Bandhan Nifty 50 Index Fund vs LIC MF Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Nifty 50 Index Fund is an Index fund and LIC MF Arbitrage Fund is an Arbitrage fund. In the 3 years to 30-10-2026, Bandhan Nifty 50 Index Fund (Direct) returned 7.4% a year and LIC MF Arbitrage Fund (Direct) returned 7.1% a year. Bandhan Nifty 50 Index Fund charges 0.16% a year and LIC MF Arbitrage Fund 1.04% (Direct plans). Their portfolios overlap 45.4%: they hold 23 of the same securities.
Bandhan Nifty 50 Index Fund
Index
- 3 year return
- 7.4%
- Expense ratio
- 0.16%
- NAV
- ₹51.67
Which is better, Bandhan Nifty 50 Index or LIC MF Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- LIC MF Arbitrage returned more over 5 years: 6.6% a year against 6.5%.
- Bandhan Nifty 50 Index returned more over 3 years: 7.4% a year against 7.1%.
- Bandhan Nifty 50 Index costs less: 0.16% a year against 1.04% (Direct plans).
- LIC MF Arbitrage swung less over 3 years: a standard deviation of 1.1% a year against 13.2%.
- LIC MF Arbitrage fell less in its worst fall since 28-01-2019: −0.7% against −37.6%.
- Bandhan Nifty 50 Index holds more in large companies: 98.5% of the fund in large caps against 64.0%.
- Bandhan Nifty 50 Index is the larger fund: ₹2,813 Cr against ₹305 Cr.
- Their portfolios overlap 45.4%: 23 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Bandhan Nifty 50 Index Fund | LIC MF Arbitrage Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | LIC Mutual Fund |
| Category | Index | Arbitrage |
| AUM | ₹2,813 Cr (31-08-2026) | ₹305 Cr (30-09-2026) |
| NAV | ₹51.67 (Direct) | ₹15.71 (Direct) |
| Expense ratio (Direct) | 0.16% | 1.04% |
| Expense ratio (Regular) | 0.66% | 1.62% |
| Riskometer | Very High | Low |
| Benchmark | Nifty 50 TRI | Nifty 50 Arbitrage Index |
| Launch date | 30-04-2010 | 25-01-2019 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Abhishek Jain | Sumit Bhatnagar, Sasikant Aravamuthan, Pratik Harish Shroff |
| Exit load | Nil | Exit load of 0.25% if redeemed within 1 months. |
Bandhan Nifty 50 Index vs LIC MF Arbitrage: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Bandhan Nifty 50 Index Fund (Direct) | +1.94% | −5.04% | −3.19% | −10.13% | +7.41% | +6.55% | +11.43% |
| LIC MF Arbitrage Fund (Direct) | +0.59% | +1.54% | +3.30% | +6.72% | +7.08% | +6.64% | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Bandhan Nifty 50 Index vs LIC MF Arbitrage: Year-wise Returns
| Year | Bandhan Nifty 50 IndexBandhan Nifty 50 Index | LIC MF ArbitrageLIC MF Arbitrage |
|---|---|---|
| 2026to date | −11.02% | +5.53% |
| 2025 | +11.73% | +6.82% |
| 2024 | +9.74% | +7.81% |
| 2023 | +21.09% | +7.41% |
| 2022 | +5.76% | +4.96% |
| 2021 | +25.00% | +3.93% |
Bandhan Nifty 50 Index vs LIC MF Arbitrage: Rolling Returns
Every holding period of both funds, against Nifty 50 TRI, the benchmark of Bandhan Nifty 50 Index Fund
Rolling returns
Every 3-year holding period, 1,179 of them, one for each trading day from 28-01-2022 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Bandhan Nifty 50 Index Fund (Direct)
LIC MF Arbitrage Fund (Direct)
Nifty 50 TRI
to
Jun 2022Apr 2020
to
Apr 2023Jan 2021
to
Jan 2024Nov 2021
to
Nov 2024Sept 2022
to
Sept 2025Jun 2023
to
Jun 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Nifty 50 Index | 0.0 | 0.0 | 10.3 | 39.9 | 38.1 | 7.8 | 4.0 | 15.2% | 15.0% | 5.2% | 31.8% | 1% |
| LIC MF Arbitrage | 0.0 | 33.2 | 66.8 | 0.0 | 0.0 | 0.0 | 0.0 | 5.9% | 6.1% | 4.2% | 7.5% | 2% |
| Nifty 50 TRI | 0.0 | 0.0 | 9.8 | 38.8 | 39.4 | 7.8 | 4.2 | 15.4% | 15.1% | 5.4% | 32.4% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty 50 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 28-01-2019. Past returns do not promise future returns.
Bandhan Nifty 50 Index vs LIC MF Arbitrage: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-01-2019 to 30-10-2026: 94 instalments, ₹9,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Nifty 50 IndexBandhan Nifty 50 Index Fund (Direct) | ₹9,40,000 | ₹13,73,227 | ₹4,33,227 | 9.5% |
| LIC MF ArbitrageLIC MF Arbitrage Fund (Direct) | ₹9,40,000 | ₹12,12,855 | ₹2,72,855 | 6.4% |
Bandhan Nifty 50 IndexBandhan Nifty 50 Index Fund (Direct)
LIC MF ArbitrageLIC MF Arbitrage Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Bandhan Nifty 50 Index vs LIC MF Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Nifty 50 Index Fund (Direct) | LIC MF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −10.13% | +6.72% |
| Standard deviation | 13.61% | 1.43% |
| Sharpe ratio | -1.13 | 1.03 |
| Sortino ratio | -1.51 | 1.61 |
| Maximum drawdown | −15.1% (30-03-2026) | −0.4% (06-08-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.15% | -- |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Bandhan Nifty 50 Index Fund (Direct) | LIC MF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.41% | +7.08% |
| Standard deviation | 13.19% | 1.09% |
| Sharpe ratio | 0.10 | 0.97 |
| Sortino ratio | 0.15 | 1.49 |
| Maximum drawdown | −15.5% (04-03-2025) | −0.4% (06-08-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.22% | -- |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Bandhan Nifty 50 Index Fund (Direct) | LIC MF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.55% | +6.64% |
| Standard deviation | 13.65% | 1.02% |
| Sharpe ratio | 0.05 | 0.82 |
| Sortino ratio | 0.08 | 1.24 |
| Maximum drawdown | −15.7% (17-06-2022) | −0.4% (06-08-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.15% | -- |
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Bandhan Nifty 50 Index Fund (Direct) | LIC MF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.31% | +5.98% |
| Standard deviation | 15.72% | 1.07% |
| Sharpe ratio | 0.34 | 0.73 |
| Sortino ratio | 0.46 | 1.07 |
| Maximum drawdown | −37.6% (23-03-2020) | −0.7% (03-06-2020) |
| Beta | 0.99 | -- |
| Alpha | −0.21% | -- |
From daily NAVs, 02-01-2013 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Bandhan Nifty 50 Index Fund (Direct)
LIC MF Arbitrage Fund (Direct)
Nifty 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Nifty 50 Index Fund (Direct) | −37.6% | 14-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −11.7% |
| LIC MF Arbitrage Fund (Direct) | −0.7% | 29-05-2020 | 03-06-2020 | 08-09-2020 | 3 months | −0.1% |
| Nifty 50 TRI | −38.3% | 14-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −11.6% |
From daily values since 28-01-2019, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Nifty 50 Index Fund (Direct)
LIC MF Arbitrage Fund (Direct)
Nifty 50 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Nifty 50 Index Fund (Direct)
LIC MF Arbitrage Fund (Direct)
Nifty 50 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Nifty 50 Index Fund (Direct)
LIC MF Arbitrage Fund (Direct)
Nifty 50 TRI
Against Nifty 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Nifty 50 Index Fund (Direct) | 99% | 100% | 0.28% |
| LIC MF Arbitrage Fund (Direct) | 12% | -16% | 17.36% |
From month-end values since 28-01-2019. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Bandhan Nifty 50 Index vs LIC MF Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Nifty 50 Index Fund, August 2026; LIC MF Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 45.4%
- Held by both
- 23
- Only in Bandhan Nifty 50 Index
- 27
- Only in LIC MF Arbitrage
- 12
| Security | % of Bandhan Nifty 50 Index | % of LIC MF Arbitrage |
|---|---|---|
| HDFC Bank Limited | 9.84% | 8.80% |
| ICICI Bank Limited | 9.44% | 7.23% |
| Reliance Industries Limited | 7.82% | 5.98% |
| Bharti Airtel Limited | 4.99% | 4.96% |
| State Bank of India | 3.97% | 6.33% |
| Axis Bank Limited | 3.38% | 3.22% |
| Kotak Mahindra Bank Limited | 2.80% | 1.59% |
| Mahindra & Mahindra Limited | 2.66% | 1.59% |
| Tata Steel Limited | 1.38% | 4.94% |
| Bharat Electronics Limited | 1.35% | 2.52% |
| Hindalco Industries Limited | 1.33% | 6.66% |
| Hindustan Unilever Limited | 1.58% | 1.11% |
| NTPC Limited | 1.41% | 0.72% |
| Jio Financial Services Limited | 0.72% | 2.28% |
| HDFC Life Insurance Company Limited | 0.53% | 2.75% |
| JSW Steel Limited | 1.11% | 0.36% |
| Oil & Natural Gas Corporation Limited | 0.82% | 0.20% |
| Sun Pharmaceutical Industries Limited | 1.90% | 0.15% |
| Titan Company Limited | 1.91% | 0.08% |
| ITC Limited | 2.23% | 0.07% |
| Asian Paints Limited | 1.09% | 0.04% |
| Shriram Finance Limited | 1.41% | 0.03% |
| Larsen & Toubro Limited | 4.29% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.4% means 45.4% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Bandhan Nifty 50 Index Fund
| Security | % of fund |
|---|---|
| Infosys Limited | 3.60% |
| Bajaj Finance Limited | 2.57% |
| Tata Consultancy Services Limited | 2.22% |
| Eternal Limited | 2.15% |
| Maruti Suzuki India Limited | 1.60% |
Largest holdings only in LIC MF Arbitrage Fund
| Security | % of fund |
|---|---|
| LIC MF ULTRA SHRT DUR FD -DIRECT PLAN | 15.63% |
| LIC MF MONEY MARKET FUND-DIRECT PLAN-GR | 13.24% |
| GMR Airports Ltd. | 2.24% |
| Punjab National Bank | 0.80% |
| IndusInd Bank Ltd. | 0.62% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Nifty 50 Index | LIC MF Arbitrage |
|---|---|---|
| Equity | 99.9% | 67.4% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.1% | 32.6% |
Market cap of stocks
| Market cap | Bandhan Nifty 50 Index | LIC MF Arbitrage |
|---|---|---|
| Large Cap | 98.5% | 64.0% |
| Mid Cap | 1.3% | 3.4% |
| Small Cap | 0.0% | 0.1% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Bandhan Nifty 50 Index | LIC MF Arbitrage |
|---|---|---|
| Banks | 29.4% | 29.2% |
| IT - Software | 8.5% | 0.0% |
| Petroleum Products | 7.8% | 6.0% |
| Automobiles | 7.0% | 1.6% |
| Non - Ferrous Metals | 1.3% | 6.7% |
| Finance | 5.8% | 2.3% |
| Telecom - Services | 5.0% | 5.4% |
| Ferrous Metals | 2.5% | 5.3% |
| Insurance | 1.2% | 2.8% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Nifty 50 Index vs LIC MF Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Nifty 50 Index Fund | LIC MF Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.16% | 1.04% |
| Base expense ratio (Direct) | 0.08% | 0.24% |
| Total expense ratio (Regular) | 0.66% | 1.62% |
| Base expense ratio (Regular) | 0.51% | 0.74% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Bandhan Nifty 50 Index Fund vs LIC MF Arbitrage Fund: Frequently Asked Questions
What is the difference between Bandhan Nifty 50 Index Fund and LIC MF Arbitrage Fund?
Bandhan Nifty 50 Index Fund is an Index fund, LIC MF Arbitrage Fund is an Arbitrage fund, run by Bandhan Mutual Fund and LIC Mutual Fund. Their portfolios overlap 45.4%. Bandhan Nifty 50 Index Fund charges 0.16% a year and LIC MF Arbitrage Fund 1.04%.
Which has given higher returns, Bandhan Nifty 50 Index Fund or LIC MF Arbitrage Fund?
Over 1 year: Bandhan Nifty 50 Index Fund −10.13%, LIC MF Arbitrage Fund +6.72%. Over 3 years: Bandhan Nifty 50 Index Fund +7.41% a year, LIC MF Arbitrage Fund +7.08% a year. Over 5 years: Bandhan Nifty 50 Index Fund +6.55% a year, LIC MF Arbitrage Fund +6.64% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Nifty 50 Index Fund or LIC MF Arbitrage Fund?
Bandhan Nifty 50 Index Fund charges less: 0.16% a year against 1.04%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Nifty 50 Index Fund and LIC MF Arbitrage Fund overlap?
45.4%. They hold 23 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Nifty 50 Index Fund or LIC MF Arbitrage Fund?
On SEBI's riskometer, Bandhan Nifty 50 Index Fund is rated Very High and LIC MF Arbitrage Fund Low. Over 3 years, the standard deviation of daily returns was 13.19% and 1.09% a year.
Which is better for SIP, Bandhan Nifty 50 Index Fund or LIC MF Arbitrage Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹6,93,921 in Bandhan Nifty 50 Index Fund (XIRR 5.0% a year) and ₹7,28,536 in LIC MF Arbitrage Fund (XIRR 6.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Nifty 50 Index Fund and LIC MF Arbitrage Fund?
Yes. 45.4% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bandhan Nifty 50 Index Fund and LIC MF Arbitrage Fund?
Bandhan Nifty 50 Index Fund: Abhishek Jain. LIC MF Arbitrage Fund: Sumit Bhatnagar, Sasikant Aravamuthan, Pratik Harish Shroff.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.