DSP Arbitrage fund vs TRUSTMF Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Arbitrage fund and TRUSTMF Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, DSP Arbitrage fund (Direct) returned 6.5% and TRUSTMF Arbitrage Fund (Direct) returned 6.5%. DSP Arbitrage fund charges 1.17% a year and TRUSTMF Arbitrage Fund 1.42% (Direct plans). Their portfolios overlap 39.1%: they hold 55 of the same securities.
TRUSTMF Arbitrage Fund
Arbitrage
- 1 year return
- 6.5%
- Expense ratio
- 1.42%
- NAV
- ₹10.76
Which is better, DSP Arbitrage fund or TRUSTMF Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- TRUSTMF Arbitrage returned more over 1 year: 6.5% against 6.5%.
- DSP Arbitrage fund costs less: 1.17% a year against 1.42% (Direct plans).
- DSP Arbitrage fund fell less in its worst fall since 01-09-2025: −0.4% against −0.4%.
- TRUSTMF Arbitrage holds more in large companies: 61.3% of the fund in large caps against 50.0%.
- DSP Arbitrage fund is the larger fund: ₹6,720 Cr against ₹138 Cr.
- Their portfolios overlap 39.1%: 55 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 | DSP Arbitrage fund | TRUSTMF Arbitrage Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | Trust Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹6,720 Cr (30-09-2026) | ₹138 Cr (30-09-2026) |
| NAV | ₹16.99 (Direct) | ₹10.76 (Direct) |
| Expense ratio (Direct) | 1.17% | 1.42% |
| Expense ratio (Regular) | 1.81% | 2.19% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage Index | Nifty 50 Arbitrage Index |
| Launch date | 25-01-2018 | 28-08-2025 |
| Minimum investment | ₹100 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Kaivalya Nadkarni, Karan Mundhra | Mihir Vora, Sachin Parekh |
| Exit load | Exit Load for units in excess of 10% of the investment,0.25% will be charged for redemption within 15 days. | 0.25% If redeemed / switched out within 7 days from the date of allotment. Nil - if redeemed/switched out after 7 days from the date of allotment. |
DSP Arbitrage fund vs TRUSTMF 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 |
|---|---|---|---|---|---|---|---|
| DSP Arbitrage fund (Direct) | +0.49% | +1.47% | +3.15% | +6.49% | +7.18% | +6.68% | -- |
| TRUSTMF Arbitrage Fund (Direct) | +0.56% | +1.52% | +3.18% | +6.53% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
DSP Arbitrage fund vs TRUSTMF Arbitrage: Year-wise Returns
| Year | DSP Arbitrage fundDSP Arbitrage fund | TRUSTMF ArbitrageTRUSTMF Arbitrage |
|---|---|---|
| 2026to date | +5.29% | +5.30% |
| 2025 | +6.88% | -- |
| 2024 | +8.18% | -- |
| 2023 | +7.80% | -- |
| 2022 | +4.68% | -- |
| 2021 | +4.02% | -- |
DSP Arbitrage fund vs TRUSTMF Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 39 of them, one for each trading day from 01-09-2026 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.
DSP Arbitrage fund (Direct)
TRUSTMF Arbitrage Fund (Direct)
to
Sept 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Arbitrage fund | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.5% | 6.3% | 6.7% |
| TRUSTMF Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.5% | 6.2% | 6.7% |
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. Every fund is measured over the days all of them have, from 01-09-2025. Past returns do not promise future returns.
DSP Arbitrage fund vs TRUSTMF 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 01-09-2025 to 30-10-2026: 14 instalments, ₹1,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Arbitrage fundDSP Arbitrage fund (Direct) | ₹1,40,000 | ₹1,45,473 | ₹5,473 | 6.4% |
| TRUSTMF ArbitrageTRUSTMF Arbitrage Fund (Direct) | ₹1,40,000 | ₹1,45,491 | ₹5,491 | 6.4% |
DSP Arbitrage fundDSP Arbitrage fund (Direct)
TRUSTMF ArbitrageTRUSTMF 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.
DSP Arbitrage fund vs TRUSTMF Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Arbitrage fund (Direct) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.49% | +6.53% |
| Standard deviation | 1.33% | 1.41% |
| Sharpe ratio | 0.93 | 0.91 |
| Sortino ratio | 1.46 | 1.37 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.4% (17-08-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | DSP Arbitrage fund (Direct) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.22% | +6.47% |
| Standard deviation | 1.06% | 1.33% |
| Sharpe ratio | 0.85 | 0.89 |
| Sortino ratio | 1.25 | 1.34 |
| Maximum drawdown | −0.6% (25-03-2020) | −0.4% (17-08-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-01-2018 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.
DSP Arbitrage fund (Direct)
TRUSTMF Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Arbitrage fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | −0.1% |
| TRUSTMF Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 17-08-2026 | 24-08-2026 | 7 days | −0.1% |
From daily values since 01-09-2025, 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.
DSP Arbitrage fund (Direct)
TRUSTMF Arbitrage Fund (Direct)
DSP Arbitrage fund vs TRUSTMF Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Arbitrage fund, September 2026; TRUSTMF Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 39.1%
- Held by both
- 55
- Only in DSP Arbitrage fund
- 125
- Only in TRUSTMF Arbitrage
- 2
| Security | % of DSP Arbitrage fund | % of TRUSTMF Arbitrage |
|---|---|---|
| HDFC Bank Limited | 4.76% | 4.08% |
| Reliance Industries Limited | 4.63% | 3.83% |
| ICICI Bank Limited | 2.73% | 4.09% |
| Vodafone Idea Limited | 3.05% | 2.55% |
| Axis Bank Limited | 2.16% | 5.61% |
| Bharti Airtel Limited | 1.62% | 3.15% |
| State Bank of India | 1.55% | 1.51% |
| Punjab National Bank | 1.62% | 1.31% |
| ITC Limited | 1.69% | 1.25% |
| Canara Bank | 1.21% | 6.38% |
| Yes Bank Limited | 1.03% | 1.75% |
| Adani Energy Solutions Limited | 1.12% | 0.97% |
| Indus Towers Limited | 0.97% | 2.53% |
| Bajaj Finance Limited | 0.94% | 2.61% |
| Kotak Mahindra Bank Limited | 1.38% | 0.85% |
| Bandhan Bank Limited | 0.79% | 1.91% |
| Tata Steel Limited | 0.78% | 2.28% |
| IDFC First Bank Limited | 0.78% | 0.82% |
| Glenmark Pharmaceuticals Limited | 0.74% | 0.64% |
| Bank of Baroda | 0.71% | 0.64% |
| Indian Hotels Co Limited | 0.56% | 0.95% |
| Mahindra & Mahindra Limited | 0.52% | 1.07% |
| Larsen & Toubro Limited | 0.47% | 2.20% |
| Manappuram Finance Limited | 0.47% | 0.48% |
| LIC Housing Finance Limited | 0.70% | 0.46% |
| Crompton Greaves Consumer Electricals Limited | 0.46% | 0.52% |
| HDFC Life Insurance Co Limited | 0.43% | 0.46% |
| Info Edge (India) Limited | 0.39% | 0.44% |
| Hindalco Industries Limited | 0.59% | 0.38% |
| Cholamandalam Investment and Finance Co Limited | 0.38% | 0.66% |
| Eicher Motors Limited | 0.37% | 0.62% |
| Varun Beverages Limited | 0.28% | 0.60% |
| Titan Co Limited | 0.27% | 0.47% |
| Cummins India Limited | 0.27% | 0.48% |
| Asian Paints Limited | 0.26% | 0.35% |
| Ultratech Cement Limited | 0.26% | 0.83% |
| Astral Limited | 0.24% | 1.73% |
| Sun Pharmaceutical Industries Limited | 0.26% | 0.23% |
| Power Finance Corporation Limited | 0.39% | 0.21% |
| Indian Energy Exchange Limited | 0.21% | 1.49% |
| Apollo Hospitals Enterprise Limited | 0.20% | 1.33% |
| IndusInd Bank Limited | 0.18% | 0.55% |
| HDFC Asset Management Co Limited | 0.14% | 0.65% |
| Patanjali Foods Limited | 0.13% | 0.79% |
| Adani Ports and Special Economic Zone Limited | 0.25% | 0.12% |
| Maruti Suzuki India Limited | 0.12% | 3.95% |
| Interglobe Aviation Limited | 0.09% | 0.38% |
| Kalyan Jewellers India Limited | 0.08% | 2.93% |
| Inox Wind Limited | 0.06% | 0.13% |
| Phoenix Mills Limited | 0.21% | 0.05% |
| Indian Oil Corporation Limited | 0.09% | 0.05% |
| SBI Cards and Payment Services Limited | 0.05% | 0.07% |
| Nestle India Limited | 0.03% | 1.57% |
| Power Grid Corporation of India Limited | 0.03% | 0.04% |
| Eternal Limited | 0.02% | 0.11% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.1% means 39.1% 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 DSP Arbitrage fund
| Security | % of fund |
|---|---|
| DSP Money Market Fund | 10.96% |
| Bank of Baroda | 2.89% |
| Indian Bank | 2.83% |
| National Bank For Agriculture & Rural Development | 1.44% |
| Steel Authority of India Limited | 1.32% |
Largest holdings only in TRUSTMF Arbitrage Fund
| Security | % of fund |
|---|---|
| TRUSTMF Liquid Fund-Direct Plan-Growth | 18.59% |
| Ambuja Cements Limited | 0.91% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Arbitrage fund | TRUSTMF Arbitrage |
|---|---|---|
| Equity | 66.9% | 77.0% |
| Debt | 19.3% | 0.0% |
| Cash and others | 13.8% | 23.0% |
Market cap of stocks
| Market cap | DSP Arbitrage fund | TRUSTMF Arbitrage |
|---|---|---|
| Large Cap | 50.0% | 61.3% |
| Mid Cap | 12.8% | 10.7% |
| Small Cap | 4.2% | 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 | DSP Arbitrage fund | TRUSTMF Arbitrage |
|---|---|---|
| Banks | 19.9% | 29.5% |
| Telecom - Services | 5.6% | 8.2% |
| Automobiles | 1.9% | 5.6% |
| Finance | 5.0% | 4.5% |
| Petroleum Products | 4.7% | 3.9% |
| Consumer Durables | 1.1% | 4.3% |
| Ferrous Metals | 3.4% | 2.3% |
| Pharmaceuticals & Biotechnology | 3.4% | 0.9% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Arbitrage fund vs TRUSTMF Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Arbitrage fund | TRUSTMF Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.17% | 1.42% |
| Base expense ratio (Direct) | 0.31% | 0.17% |
| Total expense ratio (Regular) | 1.81% | 2.19% |
| Base expense ratio (Regular) | 0.85% | 0.85% |
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 DSP Arbitrage fund with
DSP Arbitrage fund vs TRUSTMF Arbitrage Fund: Frequently Asked Questions
What is the difference between DSP Arbitrage fund and TRUSTMF Arbitrage Fund?
Both are Arbitrage funds, run by DSP Mutual Fund and Trust Mutual Fund. Their portfolios overlap 39.1%. DSP Arbitrage fund charges 1.17% a year and TRUSTMF Arbitrage Fund 1.42%.
Which has given higher returns, DSP Arbitrage fund or TRUSTMF Arbitrage Fund?
Over 1 year: DSP Arbitrage fund +6.49%, TRUSTMF Arbitrage Fund +6.53%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Arbitrage fund or TRUSTMF Arbitrage Fund?
DSP Arbitrage fund charges less: 1.17% a year against 1.42%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Arbitrage fund and TRUSTMF Arbitrage Fund overlap?
39.1%. They hold 55 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, DSP Arbitrage fund or TRUSTMF Arbitrage Fund?
On SEBI's riskometer, DSP Arbitrage fund is rated Low and TRUSTMF Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 1.33% and 1.41% a year.
Can I invest in both DSP Arbitrage fund and TRUSTMF Arbitrage Fund?
Yes. 39.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages DSP Arbitrage fund and TRUSTMF Arbitrage Fund?
DSP Arbitrage fund: Kaivalya Nadkarni, Karan Mundhra. TRUSTMF Arbitrage Fund: Mihir Vora, Sachin Parekh.
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.