Baroda BNP Paribas Large and Mid Cap fund vs ITI Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Baroda BNP Paribas Large and Mid Cap fund is a Large & Mid Cap fund and ITI Arbitrage Fund is an Arbitrage fund. In the 3 years to 30-10-2026, Baroda BNP Paribas Large and Mid Cap fund (Direct) returned 13.5% a year and ITI Arbitrage Fund (Direct) returned 7.3% a year. Baroda BNP Paribas Large and Mid Cap fund charges 1.09% a year and ITI Arbitrage Fund 1.10% (Direct plans). Their portfolios overlap 20.5%: they hold 11 of the same securities.
Baroda BNP Paribas Large and Mid Cap fund
Large & Mid Cap
- 3 year return
- 13.5%
- Expense ratio
- 1.09%
- NAV
- ₹28.50
Which is better, Baroda BNP Paribas Large and Mid Cap fund or ITI Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Baroda BNP Paribas Large and Mid Cap fund returned more over 5 years: 10.9% a year against 6.3%.
- Baroda BNP Paribas Large and Mid Cap fund returned more over 3 years: 13.5% a year against 7.3%.
- Baroda BNP Paribas Large and Mid Cap fund costs less: 1.09% a year against 1.10% (Direct plans).
- ITI Arbitrage swung less over 3 years: a standard deviation of 1.2% a year against 14.9%.
- ITI Arbitrage fell less in its worst fall since 11-09-2020: −0.6% against −20.6%.
- Baroda BNP Paribas Large and Mid Cap fund holds more in large companies: 46.6% of the fund in large caps against 35.4%.
- Baroda BNP Paribas Large and Mid Cap fund is the larger fund: ₹1,762 Cr against ₹65 Cr.
- Their portfolios overlap 20.5%: 11 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 | Baroda BNP Paribas Large and Mid Cap fund | ITI Arbitrage Fund |
|---|---|---|
| Fund house | Baroda BNP Paribas Mutual Fund | ITI Mutual Fund |
| Category | Large & Mid Cap | Arbitrage |
| AUM | ₹1,762 Cr (30-09-2026) | ₹65 Cr (30-09-2026) |
| NAV | ₹28.50 (Direct) | ₹14.70 (Direct) |
| Expense ratio (Direct) | 1.09% | 1.10% |
| Expense ratio (Regular) | 2.30% | 1.80% |
| Riskometer | Not available | Low |
| Benchmark | Not available | Nifty 50 Arbitrage Index |
| Launch date | Not available | 09-09-2019 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Vikas Nathani, Animesh Singh, Laukik Bagwe |
| Exit load | Not available | Exit Load for units in excess of 10% of the investment,0.25% will be charged for redemption within 15 days. |
Baroda BNP Paribas Large and Mid Cap fund vs ITI 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 |
|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Large and Mid Cap fund (Direct) | −0.99% | −4.52% | −0.10% | −4.15% | +13.51% | +10.94% | -- |
| ITI Arbitrage Fund (Direct) | +0.57% | +1.46% | +2.92% | +6.38% | +7.25% | +6.26% | -- |
| Large & Mid Cap average | −1.78% | −5.20% | −0.43% | −3.99% | +13.28% | +11.36% | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | -- |
Category average: the average of the 36 Large & Mid Cap funds and the 39 Arbitrage funds, same plan type.
Baroda BNP Paribas Large and Mid Cap fund vs ITI Arbitrage: Year-wise Returns
| Year | Baroda BNP Paribas Large and Mid Cap fundBaroda BNP Paribas Large and Mid Cap fund | ITI ArbitrageITI Arbitrage |
|---|---|---|
| 2026to date | −4.91% | +5.21% |
| 2025 | +1.74% | +7.32% |
| 2024 | +29.56% | +8.03% |
| 2023 | +31.59% | +7.15% |
| 2022 | −0.06% | +3.23% |
| 2021 | +45.29% | +3.15% |
Baroda BNP Paribas Large and Mid Cap fund vs ITI Arbitrage: Rolling Returns
Every holding period of both funds, against BSE 250 LargeMidCap Index TRI, the benchmark of Baroda BNP Paribas Large and Mid Cap fund
Rolling returns
Every 3-year holding period, 770 of them, one for each trading day from 11-09-2023 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.
Baroda BNP Paribas Large and Mid Cap fund (Direct)
ITI Arbitrage Fund (Direct)
BSE 250 LargeMidCap Index TRI
to
Dec 2023Jun 2021
to
Jun 2024Jan 2022
to
Jan 2025Jul 2022
to
Jul 2025Jan 2023
to
Jan 2026Jul 2023
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas Large and Mid Cap fund | 0.0 | 0.0 | 0.0 | 5.6 | 41.9 | 41.2 | 11.3 | 20.5% | 20.1% | 12.3% | 27.3% | 100% |
| ITI Arbitrage | 0.0 | 16.9 | 83.1 | 0.0 | 0.0 | 0.0 | 0.0 | 6.3% | 6.6% | 4.1% | 7.8% | 0% |
| BSE 250 LargeMidCap Index TRI | 0.0 | 0.0 | 3.9 | 32.2 | 54.7 | 9.2 | 0.0 | 16.2% | 16.1% | 8.1% | 24.3% | -- |
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 BSE 250 LargeMidCap Index 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 11-09-2020. Past returns do not promise future returns.
Baroda BNP Paribas Large and Mid Cap fund vs ITI 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 11-09-2020 to 30-10-2026: 74 instalments, ₹7,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Baroda BNP Paribas Large and Mid Cap fundBaroda BNP Paribas Large and Mid Cap fund (Direct) | ₹7,40,000 | ₹10,90,463 | ₹3,50,463 | 12.5% |
| ITI ArbitrageITI Arbitrage Fund (Direct) | ₹7,40,000 | ₹9,07,208 | ₹1,67,208 | 6.5% |
Baroda BNP Paribas Large and Mid Cap fundBaroda BNP Paribas Large and Mid Cap fund (Direct)
ITI ArbitrageITI 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.
Baroda BNP Paribas Large and Mid Cap fund vs ITI Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Baroda BNP Paribas Large and Mid Cap fund (Direct) | ITI Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.15% | +6.38% |
| Standard deviation | 14.83% | 1.57% |
| Sharpe ratio | -0.63 | 0.73 |
| Sortino ratio | -0.85 | 1.06 |
| Maximum drawdown | −14.3% (31-03-2026) | −0.6% (29-09-2026) |
| Beta | 1.01 | -- |
| Alpha | +4.00% | -- |
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 | Baroda BNP Paribas Large and Mid Cap fund (Direct) | ITI Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.51% | +7.25% |
| Standard deviation | 14.92% | 1.23% |
| Sharpe ratio | 0.50 | 1.00 |
| Sortino ratio | 0.67 | 1.48 |
| Maximum drawdown | −19.5% (28-02-2025) | −0.6% (29-09-2026) |
| Beta | 1.01 | -- |
| Alpha | +3.68% | -- |
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 | Baroda BNP Paribas Large and Mid Cap fund (Direct) | ITI Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.94% | +6.26% |
| Standard deviation | 14.74% | 1.10% |
| Sharpe ratio | 0.35 | 0.42 |
| Sortino ratio | 0.47 | 0.61 |
| Maximum drawdown | −19.7% (20-06-2022) | −0.6% (29-09-2026) |
| Beta | 0.99 | -- |
| Alpha | +2.63% | -- |
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 | Baroda BNP Paribas Large and Mid Cap fund (Direct) | ITI Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +18.60% | +5.53% |
| Standard deviation | 14.72% | 1.12% |
| Sharpe ratio | 0.90 | 0.36 |
| Sortino ratio | 1.23 | 0.51 |
| Maximum drawdown | −20.6% (20-06-2022) | −0.6% (07-04-2020) |
| Beta | 0.97 | -- |
| Alpha | +3.63% | -- |
From daily NAVs, 11-09-2020 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.
Baroda BNP Paribas Large and Mid Cap fund (Direct)
ITI Arbitrage Fund (Direct)
BSE 250 LargeMidCap Index TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Baroda BNP Paribas Large and Mid Cap fund (Direct) | −20.6% | 18-10-2021 | 20-06-2022 | 05-06-2023 | 11 months | −7.7% |
| ITI Arbitrage Fund (Direct) | −0.6% | 18-09-2026 | 29-09-2026 | 12-10-2026 | 13 days | 0.0% |
| BSE 250 LargeMidCap Index TRI | −18.0% | 26-09-2024 | 28-02-2025 | 02-01-2026 | 10 months | −9.4% |
From daily values since 11-09-2020, 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.
Baroda BNP Paribas Large and Mid Cap fund (Direct)
ITI Arbitrage Fund (Direct)
BSE 250 LargeMidCap Index 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.
Baroda BNP Paribas Large and Mid Cap fund (Direct)
ITI Arbitrage Fund (Direct)
BSE 250 LargeMidCap Index 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.
Baroda BNP Paribas Large and Mid Cap fund (Direct)
ITI Arbitrage Fund (Direct)
BSE 250 LargeMidCap Index TRI
Against BSE 250 LargeMidCap Index TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Baroda BNP Paribas Large and Mid Cap fund (Direct) | 109% | 99% | 5.46% |
| ITI Arbitrage Fund (Direct) | 12% | -15% | 14.94% |
From month-end values since 11-09-2020. 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.
Baroda BNP Paribas Large and Mid Cap fund vs ITI Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Baroda BNP Paribas Large and Mid Cap fund, September 2026; ITI Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 20.5%
- Held by both
- 11
- Only in Baroda BNP Paribas Large and Mid Cap fund
- 41
- Only in ITI Arbitrage
- 19
| Security | % of Baroda BNP Paribas Large and Mid Cap fund | % of ITI Arbitrage |
|---|---|---|
| One 97 Communications Limited | 3.43% | 8.83% |
| HDFC Bank Limited | 2.71% | 5.69% |
| Shriram Finance Limited | 2.31% | 2.25% |
| Bharti Airtel Limited | 2.24% | 3.22% |
| IndusInd Bank Limited | 2.58% | 2.14% |
| Cummins India Limited | 1.94% | 4.56% |
| Hindustan Petroleum Corporation Limited | 1.69% | 1.64% |
| Persistent Systems Limited | 1.80% | 1.53% |
| Max Financial Services Limited | 1.61% | 1.02% |
| Larsen & Toubro Limited | 2.50% | 0.81% |
| National Aluminium Company Limited | 0.77% | 1.78% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.5% means 20.5% 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 Baroda BNP Paribas Large and Mid Cap fund
| Security | % of fund |
|---|---|
| The Federal Bank Limited | 3.24% |
| Radico Khaitan Limited | 3.12% |
| Bharat Heavy Electricals Limited | 2.84% |
| Navin Fluorine International Limited | 2.74% |
| Reliance Industries Limited | 2.67% |
Largest holdings only in ITI Arbitrage Fund
| Security | % of fund |
|---|---|
| ITI Liquid Fund - Direct Plan - Growth Option | 14.82% |
| Power Finance Corporation Limited | 4.44% |
| Adani Ports and Special Economic Zone Limited | 3.56% |
| Varun Beverages Limited | 3.06% |
| AU Small Finance Bank Limited | 2.34% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Baroda BNP Paribas Large and Mid Cap fund | ITI Arbitrage |
|---|---|---|
| Equity | 93.1% | 65.4% |
| Debt | 0.8% | 0.0% |
| Cash and others | 6.1% | 34.6% |
Market cap of stocks
| Market cap | Baroda BNP Paribas Large and Mid Cap fund | ITI Arbitrage |
|---|---|---|
| Large Cap | 46.6% | 35.4% |
| Mid Cap | 38.5% | 27.1% |
| Small Cap | 7.0% | 2.9% |
| Not on AMFI's list | 1.0% | 0.0% |
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 | Baroda BNP Paribas Large and Mid Cap fund | ITI Arbitrage |
|---|---|---|
| Banks | 18.5% | 15.3% |
| Financial Technology (Fintech) | 3.4% | 8.8% |
| Finance | 2.3% | 8.3% |
| Chemicals & Petrochemicals | 6.7% | 0.0% |
| Pharmaceuticals & Biotechnology | 5.0% | 0.0% |
| Capital Markets | 4.9% | 0.0% |
| IT - Software | 4.7% | 1.5% |
| Automobiles | 4.6% | 0.0% |
| Industrial Products | 3.3% | 4.6% |
| Insurance | 1.6% | 4.5% |
| Transport Infrastructure | 0.0% | 3.6% |
The six largest sectors of each fund's stocks, % of the fund.
Baroda BNP Paribas Large and Mid Cap fund vs ITI Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Baroda BNP Paribas Large and Mid Cap fund | ITI Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.09% | 1.10% |
| Base expense ratio (Direct) | 0.72% | 0.21% |
| Total expense ratio (Regular) | 2.30% | 1.80% |
| Base expense ratio (Regular) | 1.77% | 0.81% |
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
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Baroda BNP Paribas Large and Mid Cap fund vs ITI Arbitrage Fund: Frequently Asked Questions
What is the difference between Baroda BNP Paribas Large and Mid Cap fund and ITI Arbitrage Fund?
Baroda BNP Paribas Large and Mid Cap fund is a Large & Mid Cap fund, ITI Arbitrage Fund is an Arbitrage fund, run by Baroda BNP Paribas Mutual Fund and ITI Mutual Fund. Their portfolios overlap 20.5%. Baroda BNP Paribas Large and Mid Cap fund charges 1.09% a year and ITI Arbitrage Fund 1.10%.
Which has given higher returns, Baroda BNP Paribas Large and Mid Cap fund or ITI Arbitrage Fund?
Over 1 year: Baroda BNP Paribas Large and Mid Cap fund −4.15%, ITI Arbitrage Fund +6.38%. Over 3 years: Baroda BNP Paribas Large and Mid Cap fund +13.51% a year, ITI Arbitrage Fund +7.25% a year. Over 5 years: Baroda BNP Paribas Large and Mid Cap fund +10.94% a year, ITI Arbitrage Fund +6.26% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Baroda BNP Paribas Large and Mid Cap fund or ITI Arbitrage Fund?
Baroda BNP Paribas Large and Mid Cap fund charges less: 1.09% a year against 1.10%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Baroda BNP Paribas Large and Mid Cap fund and ITI Arbitrage Fund overlap?
20.5%. They hold 11 of the same securities, the largest shared ones being PAYTM, HDFCBANK, SHRIRAMFIN. From each fund's latest monthly portfolio.
Which is better for SIP, Baroda BNP Paribas Large and Mid Cap fund or ITI Arbitrage Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,90,351 in Baroda BNP Paribas Large and Mid Cap fund (XIRR 10.1% a year) and ₹7,27,182 in ITI Arbitrage Fund (XIRR 6.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Baroda BNP Paribas Large and Mid Cap fund and ITI Arbitrage Fund?
Yes. 20.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.