Capitalmind Arbitrage Fund vs Parag Parikh Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Capitalmind Arbitrage Fund and Parag Parikh Arbitrage Fund are both Arbitrage funds. Capitalmind Arbitrage Fund charges 1.18% a year and Parag Parikh Arbitrage Fund 0.99% (Direct plans). Their portfolios overlap 35.8%: they hold 31 of the same securities.
Which is better, Capitalmind Arbitrage or Parag Parikh Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Parag Parikh Arbitrage costs less: 0.99% a year against 1.18% (Direct plans).
- Capitalmind Arbitrage fell less in its worst fall since 20-03-2026: −0.6% against −0.6%.
- Parag Parikh Arbitrage is the larger fund: ₹2,750 Cr against ₹23 Cr.
- Their portfolios overlap 35.8%: 31 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 | Parag Parikh Arbitrage Fund |
|---|---|---|
| Fund house | Capitalmind Mutual Fund | PPFAS Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹23 Cr (30-09-2026) | ₹2,750 Cr (30-09-2026) |
| NAV | ₹10.39 (Direct) | ₹12.24 (Direct) |
| Expense ratio (Direct) | 1.18% | 0.99% |
| Expense ratio (Regular) | 1.96% | 1.39% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage TRI |
| Launch date | 16-03-2026 | 02-11-2023 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Prateek Jain, Anoop Vijaykumar | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar |
| Exit load | Exit load of 0.25%, if redeemed within 15 days | In respect of each purchase / switch-in of units, an Exit Load of 0.25% is payable if Units are redeemed/ switched-out within 30 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 30 days from the date of allotment. Any exit load charged (net off GST, if any) shall be credited back to the Scheme. |
Capitalmind Arbitrage vs Parag Parikh 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% | -- | -- | -- | -- |
| Parag Parikh Arbitrage Fund (Direct) | +0.57% | +1.50% | +3.18% | +6.52% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Capitalmind Arbitrage vs Parag Parikh Arbitrage: Year-wise Returns
| Year | CapitalmindCapitalmind Arbitrage | Parag ParikhParag Parikh Arbitrage |
|---|---|---|
| 2026to date | -- | +5.31% |
| 2025 | -- | +6.62% |
| 2024 | -- | +7.77% |
Capitalmind Arbitrage vs Parag Parikh Arbitrage: Rolling Returns
Every holding period of both funds
Capitalmind Arbitrage vs Parag Parikh 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) | Parag Parikh Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.19% | +6.94% |
| Standard deviation | 1.94% | 1.11% |
| Sharpe ratio | 0.47 | 0.83 |
| Sortino ratio | 0.70 | 1.25 |
| Maximum drawdown | −0.6% (29-09-2026) | −0.6% (06-08-2026) |
| 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)
Parag Parikh 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% |
| Parag Parikh Arbitrage Fund (Direct) | −0.6% | 03-08-2026 | 06-08-2026 | 01-09-2026 | 26 days | 0.0% |
From daily values since 20-03-2026, the first day every fund has.
Capitalmind Arbitrage vs Parag Parikh Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Capitalmind Arbitrage Fund, September 2026; Parag Parikh Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 35.8%
- Held by both
- 31
- Only in Capitalmind Arbitrage
- 19
- Only in Parag Parikh Arbitrage
- 53
| Security | % of Capitalmind Arbitrage | % of Parag Parikh Arbitrage |
|---|---|---|
| Canara Bank | 5.64% | 5.28% |
| Reliance Industries Limited | 5.45% | 4.80% |
| ICICI Bank Limited | 4.45% | 6.17% |
| Axis Bank Limited | 3.35% | 4.51% |
| Bharti Airtel Limited | 2.92% | 4.40% |
| HDFC Bank Limited | 2.42% | 6.38% |
| NMDC Limited | 4.74% | 1.54% |
| Eicher Motors Limited | 1.88% | 1.16% |
| Bharat Electronics Limited | 0.97% | 1.72% |
| Hindustan Aeronautics Limited | 2.14% | 0.95% |
| State Bank of India | 0.94% | 2.38% |
| Life Insurance Corporation Of India | 0.97% | 0.93% |
| Punjab National Bank | 0.79% | 1.04% |
| Bank of Baroda | 1.18% | 0.78% |
| Bajaj Finance Limited | 0.94% | 0.66% |
| NBCC (India) Limited | 1.78% | 0.57% |
| Bandhan Bank Limited | 0.56% | 1.46% |
| Sun Pharmaceutical Industries Limited | 0.56% | 0.99% |
| Steel Authority of India Limited | 3.36% | 0.41% |
| Indus Towers Limited | 1.11% | 0.39% |
| LIC Housing Finance Limited | 0.70% | 0.35% |
| ITC Limited | 0.40% | 0.33% |
| Varun Beverages Limited | 0.24% | 0.38% |
| Crompton Greaves Consumer Electricals Limited | 0.20% | 0.15% |
| Coforge Limited | 5.45% | 0.10% |
| Godrej Properties Limited | 0.23% | 0.07% |
| Indian Oil Corporation Limited | 1.44% | 0.05% |
| Tata Consumer Products Limited | 0.69% | 0.05% |
| Marico Limited | 0.41% | 0.03% |
| Torrent Pharmaceuticals Limited | 2.10% | 0.01% |
| Fortis Healthcare Limited | 0.78% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.8% means 35.8% 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% |
| Manappuram Finance Limited | 2.90% |
| InterGlobe Aviation Limited | 2.29% |
| Pidilite Industries Limited | 1.92% |
| GE Vernova T&D India Limited | 1.84% |
Largest holdings only in Parag Parikh Arbitrage Fund
| Security | % of fund |
|---|---|
| Parag Parikh Liquid Fund- Direct Plan- Growth | 10.70% |
| Kotak Mahindra Bank Limited | 3.75% |
| Small Industries Dev Bank of India (11/06/2027) | 3.46% |
| Bharat Heavy Electricals Limited | 2.97% |
| IDFC First Bank Limited | 2.24% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Capitalmind Arbitrage | Parag Parikh Arbitrage |
|---|---|---|
| Equity | 77.9% | 67.5% |
| Debt | 0.7% | 18.0% |
| Cash and others | 21.4% | 14.5% |
Market cap of stocks
| Market cap | Capitalmind Arbitrage | Parag Parikh Arbitrage |
|---|---|---|
| Large Cap | 52.5% | 57.5% |
| Mid Cap | 17.8% | 7.4% |
| Small Cap | 7.6% | 2.7% |
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 | Parag Parikh Arbitrage |
|---|---|---|
| Banks | 19.3% | 34.1% |
| Petroleum Products | 6.9% | 4.8% |
| Finance | 5.8% | 1.9% |
| IT - Software | 5.7% | 0.2% |
| Telecom - Services | 4.8% | 4.8% |
| Minerals & Mining | 4.7% | 1.5% |
| Ferrous Metals | 3.4% | 2.7% |
| Aerospace & Defense | 3.1% | 2.7% |
| Electrical Equipment | 2.1% | 3.1% |
The six largest sectors of each fund's stocks, % of the fund.
Capitalmind Arbitrage vs Parag Parikh Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Capitalmind Arbitrage Fund | Parag Parikh Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.18% | 0.99% |
| Base expense ratio (Direct) | 0.18% | 0.19% |
| Total expense ratio (Regular) | 1.96% | 1.39% |
| Base expense ratio (Regular) | 0.86% | 0.53% |
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 Parag Parikh Arbitrage Fund: Frequently Asked Questions
What is the difference between Capitalmind Arbitrage Fund and Parag Parikh Arbitrage Fund?
Both are Arbitrage funds, run by Capitalmind Mutual Fund and PPFAS Mutual Fund. Their portfolios overlap 35.8%. Capitalmind Arbitrage Fund charges 1.18% a year and Parag Parikh Arbitrage Fund 0.99%.
Which has the lower expense ratio, Capitalmind Arbitrage Fund or Parag Parikh Arbitrage Fund?
Parag Parikh Arbitrage Fund charges less: 0.99% a year against 1.18%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Capitalmind Arbitrage Fund and Parag Parikh Arbitrage Fund overlap?
35.8%. They hold 31 of the same securities, the largest shared ones being CANBK, RELIANCE, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, Capitalmind Arbitrage Fund or Parag Parikh Arbitrage Fund?
On SEBI's riskometer, Capitalmind Arbitrage Fund is rated Low and Parag Parikh Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.94% and 1.11% a year.
Can I invest in both Capitalmind Arbitrage Fund and Parag Parikh Arbitrage Fund?
Yes. 35.8% 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 Parag Parikh Arbitrage Fund?
Capitalmind Arbitrage Fund: Prateek Jain, Anoop Vijaykumar. Parag Parikh Arbitrage Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar.
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.