Capitalmind Arbitrage Fund vs Invesco India Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Capitalmind Arbitrage Fund and Invesco India Arbitrage Fund are both Arbitrage funds. Capitalmind Arbitrage Fund charges 1.18% a year and Invesco India Arbitrage Fund 2.20% (Direct plans). Their portfolios overlap 31.3%: they hold 48 of the same securities.
Which is better, Capitalmind Arbitrage or Invesco India Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Capitalmind Arbitrage costs less: 1.18% a year against 2.20% (Direct plans).
- Invesco India Arbitrage fell less in its worst fall since 20-03-2026: −0.4% against −0.6%.
- Invesco India Arbitrage is the larger fund: ₹30,396 Cr against ₹23 Cr.
- Their portfolios overlap 31.3%: 48 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 | Capitalmind Arbitrage Fund | Invesco India Arbitrage Fund |
|---|---|---|
| Fund house | Capitalmind Mutual Fund | Invesco Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹23 Cr (30-09-2026) | ₹30,396 Cr (30-09-2026) |
| NAV | ₹10.39 (Direct) | ₹37.63 (Direct) |
| Expense ratio (Direct) | 1.18% | 2.20% |
| Expense ratio (Regular) | 1.96% | 2.87% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 16-03-2026 | 30-04-2007 |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | None |
| Fund managers | Prateek Jain, Anoop Vijaykumar | Deepak Gupta, Pradeep Sukte |
| Exit load | Exit load of 0.25%, if redeemed within 15 days | Exit load of 0.50% if redeemed within 15 days |
Capitalmind Arbitrage vs Invesco India 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 |
|---|---|---|---|---|---|---|---|
| Capitalmind Arbitrage Fund (Direct) | +0.66% | +1.51% | +3.07% | -- | -- | -- | -- |
| Invesco India Arbitrage Fund (Direct) | +0.63% | +1.62% | +3.40% | +6.88% | +7.46% | +7.14% | +6.46% |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | +6.31% |
Category average: the average of the 39 Arbitrage funds, same plan type.
Capitalmind Arbitrage vs Invesco India Arbitrage: Year-wise Returns
| Year | CapitalmindCapitalmind Arbitrage | Invesco IndiaInvesco India Arbitrage |
|---|---|---|
| 2026to date | -- | +5.60% |
| 2025 | -- | +7.17% |
| 2024 | -- | +8.32% |
| 2023 | -- | +8.07% |
| 2022 | -- | +5.85% |
| 2021 | -- | +4.15% |
Capitalmind Arbitrage vs Invesco India Arbitrage: Rolling Returns
Every holding period of both funds
Capitalmind Arbitrage vs Invesco India Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Capitalmind Arbitrage Fund (Direct) | Invesco India Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.19% | +6.95% |
| Standard deviation | 1.94% | 1.04% |
| Sharpe ratio | 0.47 | 0.87 |
| Sortino ratio | 0.70 | 1.29 |
| Maximum drawdown | −0.6% (29-09-2026) | −0.5% (03-06-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 20-03-2026 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.
Capitalmind Arbitrage Fund (Direct)
Invesco India Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Capitalmind Arbitrage Fund (Direct) | −0.6% | 18-09-2026 | 29-09-2026 | 05-10-2026 | 6 days | 0.0% |
| Invesco India Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | −0.0% |
From daily values since 20-03-2026, the first day every fund has.
Capitalmind Arbitrage vs Invesco India Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Capitalmind Arbitrage Fund, September 2026; Invesco India Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 31.3%
- Held by both
- 48
- Only in Capitalmind Arbitrage
- 2
- Only in Invesco India Arbitrage
- 146
| Security | % of Capitalmind Arbitrage | % of Invesco India Arbitrage |
|---|---|---|
| ICICI Bank Limited | 4.45% | 4.55% |
| Reliance Industries Limited | 5.45% | 3.48% |
| HDFC Bank Limited | 2.42% | 5.58% |
| Axis Bank Limited | 3.35% | 2.20% |
| Bharti Airtel Limited | 2.92% | 2.16% |
| Canara Bank | 5.64% | 1.52% |
| State Bank of India | 0.94% | 1.99% |
| Vodafone Idea Limited | 0.81% | 2.20% |
| Punjab National Bank | 0.79% | 1.03% |
| Indus Towers Limited | 1.11% | 0.77% |
| NMDC Limited | 4.74% | 0.71% |
| LIC Housing Finance Limited | 0.70% | 0.64% |
| Indian Oil Corporation Limited | 1.44% | 0.60% |
| GE Vernova T&D India Limited | 1.84% | 0.58% |
| Manappuram Finance Limited | 2.90% | 0.53% |
| PB Fintech Limited | 0.81% | 0.52% |
| Bank of Baroda | 1.18% | 0.50% |
| Coforge Limited | 5.45% | 0.46% |
| Life Insurance Corporation Of India | 0.97% | 0.43% |
| Cummins India Limited | 0.42% | 0.77% |
| Torrent Pharmaceuticals Limited | 2.10% | 0.40% |
| ITC Limited | 0.40% | 0.61% |
| Marico Limited | 0.41% | 0.38% |
| Tata Consumer Products Limited | 0.69% | 0.36% |
| Hindustan Zinc Limited | 1.21% | 0.35% |
| Bajaj Finance Limited | 0.94% | 0.32% |
| Fortis Healthcare Limited | 0.78% | 0.31% |
| Hindustan Aeronautics Limited | 2.14% | 0.28% |
| Indian Energy Exchange Limited | 1.42% | 0.28% |
| Bandhan Bank Limited | 0.56% | 0.25% |
| Varun Beverages Limited | 0.24% | 0.80% |
| Godrej Properties Limited | 0.23% | 0.45% |
| Steel Authority of India Limited | 3.36% | 0.22% |
| Shriram Finance Limited | 0.35% | 0.22% |
| HCL Technologies Limited | 0.22% | 0.61% |
| Suzlon Energy Limited | 0.22% | 0.24% |
| Adani Energy Solutions Limited | 1.16% | 0.21% |
| Bharat Electronics Limited | 0.97% | 0.21% |
| Crompton Greaves Consumer Electricals Limited | 0.20% | 0.55% |
| Eicher Motors Limited | 1.88% | 0.19% |
| HDFC Life Insurance Company Limited | 0.50% | 0.18% |
| InterGlobe Aviation Limited | 2.29% | 0.16% |
| Cholamandalam Investment and Finance Company Ltd | 0.89% | 0.13% |
| Pidilite Industries Limited | 1.92% | 0.12% |
| Larsen & Toubro Limited | 1.73% | 0.12% |
| NBCC (India) Limited | 1.78% | 0.09% |
| Sun Pharmaceutical Industries Limited | 0.56% | 0.04% |
| Apollo Hospitals Enterprise Limited | 0.45% | 0.04% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 31.3% means 31.3% 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 Capitalmind Arbitrage Fund
| Security | % of fund |
|---|---|
| Capitalmind Liquid Fund - Direct-Growth | 14.84% |
| 364 Days Tbill (MD 25/12/2026) | 0.65% |
Largest holdings only in Invesco India Arbitrage Fund
| Security | % of fund |
|---|---|
| Invesco India Money Market Fund - Direct Plan - Growth | 5.52% |
| Invesco India Liquid Fund - Direct Plan - Growth | 5.22% |
| Adani Power Limited | 2.11% |
| IDFC First Bank Limited | 1.77% |
| Power Finance Corporation Limited | 1.77% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Capitalmind Arbitrage | Invesco India Arbitrage |
|---|---|---|
| Equity | 77.9% | 79.6% |
| Debt | 0.7% | 5.8% |
| Cash and others | 21.4% | 14.6% |
Market cap of stocks
| Market cap | Capitalmind Arbitrage | Invesco India Arbitrage |
|---|---|---|
| Large Cap | 52.5% | 53.9% |
| Mid Cap | 17.8% | 20.6% |
| Small Cap | 7.6% | 5.0% |
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 | Capitalmind Arbitrage | Invesco India Arbitrage |
|---|---|---|
| Banks | 19.3% | 23.3% |
| Petroleum Products | 6.9% | 4.4% |
| Finance | 5.8% | 6.1% |
| IT - Software | 5.7% | 3.6% |
| Telecom - Services | 4.8% | 5.1% |
| Minerals & Mining | 4.7% | 0.7% |
| Pharmaceuticals & Biotechnology | 2.7% | 3.2% |
The six largest sectors of each fund's stocks, % of the fund.
Capitalmind Arbitrage vs Invesco India Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Capitalmind Arbitrage Fund | Invesco India Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.18% | 2.20% |
| Base expense ratio (Direct) | 0.18% | 0.34% |
| Total expense ratio (Regular) | 1.96% | 2.87% |
| Base expense ratio (Regular) | 0.86% | 0.91% |
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
Compare Capitalmind Arbitrage with
Capitalmind Arbitrage Fund vs Invesco India Arbitrage Fund: Frequently Asked Questions
What is the difference between Capitalmind Arbitrage Fund and Invesco India Arbitrage Fund?
Both are Arbitrage funds, run by Capitalmind Mutual Fund and Invesco Mutual Fund. Their portfolios overlap 31.3%. Capitalmind Arbitrage Fund charges 1.18% a year and Invesco India Arbitrage Fund 2.20%.
Which has the lower expense ratio, Capitalmind Arbitrage Fund or Invesco India Arbitrage Fund?
Capitalmind Arbitrage Fund charges less: 1.18% a year against 2.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Capitalmind Arbitrage Fund and Invesco India Arbitrage Fund overlap?
31.3%. They hold 48 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, Capitalmind Arbitrage Fund or Invesco India Arbitrage Fund?
On SEBI's riskometer, Capitalmind Arbitrage Fund is rated Low and Invesco India Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.94% and 1.04% a year.
Can I invest in both Capitalmind Arbitrage Fund and Invesco India Arbitrage Fund?
Yes. 31.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Capitalmind Arbitrage Fund and Invesco India Arbitrage Fund?
Capitalmind Arbitrage Fund: Prateek Jain, Anoop Vijaykumar. Invesco India Arbitrage Fund: Deepak Gupta, Pradeep Sukte.
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.