Franklin India Arbitrage Fund vs Franklin India Income Plus Arbitrage Active Fund of Funds
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India Arbitrage Fund is an Arbitrage fund and Franklin India Income Plus Arbitrage Active Fund of Funds is a Fund of Funds fund. In the year to 30-10-2026, Franklin India Arbitrage Fund (Direct) returned 7.1% and Franklin India Income Plus Arbitrage Active Fund of Funds (Direct) returned 5.7%. Franklin India Arbitrage Fund charges 1.20% a year and Franklin India Income Plus Arbitrage Active Fund of Funds 0.20% (Direct plans). Their portfolios overlap 12.0%: they hold 1 of the same security.
Franklin India Arbitrage Fund
Arbitrage
- 1 year return
- 7.1%
- Expense ratio
- 1.20%
- NAV
- ₹11.42
Franklin India Income Plus Arbitrage Active Fund of Funds
Fund of Funds
- 1 year return
- 5.7%
- Expense ratio
- 0.20%
- NAV
- ₹25.48
Which is better, Franklin India Arbitrage or Franklin India Income Plus Arbitrage Active Fund of Funds? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Franklin India Arbitrage returned more over 1 year: 7.1% against 5.7%.
- Franklin India Income Plus Arbitrage Active Fund of Funds costs less: 0.20% a year against 1.20% (Direct plans).
- Franklin India Arbitrage fell less in its worst fall since 19-11-2024: −0.4% against −1.9%.
- Franklin India Arbitrage is the larger fund: ₹1,921 Cr against ₹142 Cr.
- Their portfolios overlap 12.0%: 1 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 | Franklin India Arbitrage Fund | Franklin India Income Plus Arbitrage Active Fund of Funds |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Franklin Templeton Mutual Fund |
| Category | Arbitrage | Fund of Funds |
| AUM | ₹1,921 Cr (30-09-2026) | ₹142 Cr (30-09-2026) |
| NAV | ₹11.42 (Direct) | ₹25.48 (Direct) |
| Expense ratio (Direct) | 1.20% | 0.20% |
| Expense ratio (Regular) | 1.97% | 0.53% |
| Riskometer | Not available | Not available |
| Benchmark | Not available | (65%) NIFTY Short Duration Debt Index + (35%) NIFTY 50 Arbitrage Index |
| Launch date | Not available | 28-11-2014 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Rohan Maru, Rahul Goswami |
| Exit load | Not available | Nil |
Franklin India Arbitrage vs Franklin India Income Plus Arbitrage Active Fund of Funds: 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 |
|---|---|---|---|---|---|---|---|
| Franklin India Arbitrage Fund (Direct) | +0.58% | +1.71% | +3.51% | +7.13% | -- | -- | -- |
| Franklin India Income Plus Arbitrage Active Fund of Funds (Direct) | +0.27% | +0.94% | +2.75% | +5.65% | +13.05% | +10.50% | +8.24% |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Franklin India Arbitrage vs Franklin India Income Plus Arbitrage Active Fund of Funds: Year-wise Returns
| Year | ArbitrageFranklin India Arbitrage | Income Plus Arbitrage Active Fund of FundsFranklin India Income Plus Arbitrage Active Fund of Funds |
|---|---|---|
| 2026to date | +5.84% | +4.57% |
| 2025 | +7.19% | +14.84% |
| 2024 | -- | +12.75% |
| 2023 | -- | +16.08% |
| 2022 | -- | +4.77% |
| 2021 | -- | +26.71% |
Franklin India Arbitrage vs Franklin India Income Plus Arbitrage Active Fund of Funds: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 233 of them, one for each trading day from 19-11-2025 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.
Franklin India Arbitrage Fund (Direct)
Franklin India Income Plus Arbitrage Active Fund of Funds (Direct)
to
Dec 2025Feb 2025
to
Feb 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin India Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 7.0% | 6.5% | 7.7% |
| Franklin India Income Plus Arbitrage Active Fund of Funds | 0.0 | 0.0 | 58.7 | 41.3 | 0.0 | 0.0 | 0.0 | 9.3% | 6.8% | 5.6% | 15.0% |
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 19-11-2024. Past returns do not promise future returns.
Franklin India Arbitrage vs Franklin India Income Plus Arbitrage Active Fund of Funds: 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 19-11-2024 to 30-10-2026: 24 instalments, ₹2,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin India ArbitrageFranklin India Arbitrage Fund (Direct) | ₹2,40,000 | ₹2,57,663 | ₹17,663 | 7.0% |
| Franklin India Income Plus Arbitrage Active Fund of FundsFranklin India Income Plus Arbitrage Active Fund of Funds (Direct) | ₹2,40,000 | ₹2,59,188 | ₹19,188 | 7.6% |
Franklin India ArbitrageFranklin India Arbitrage Fund (Direct)
Franklin India Income Plus Arbitrage Active Fund of FundsFranklin India Income Plus Arbitrage Active Fund of Funds (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.
Franklin India Arbitrage vs Franklin India Income Plus Arbitrage Active Fund of Funds: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Franklin India Arbitrage Fund (Direct) | Franklin India Income Plus Arbitrage Active Fund of Funds (Direct) |
|---|---|---|
| Return (CAGR) | +7.13% | +5.65% |
| Standard deviation | 1.42% | 0.81% |
| Sharpe ratio | 1.33 | 0.52 |
| Sortino ratio | 2.08 | 0.79 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.3% (02-04-2026) |
| 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 | Franklin India Arbitrage Fund (Direct) | Franklin India Income Plus Arbitrage Active Fund of Funds (Direct) |
|---|---|---|
| Return (CAGR) | +7.09% | +8.17% |
| Standard deviation | 1.17% | 8.61% |
| Sharpe ratio | 1.25 | 0.29 |
| Sortino ratio | 1.93 | 0.33 |
| Maximum drawdown | −0.4% (06-08-2026) | −27.6% (19-05-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 19-11-2024 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.
Franklin India Arbitrage Fund (Direct)
Franklin India Income Plus Arbitrage Active Fund of Funds (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Franklin India Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | 0.0% |
| Franklin India Income Plus Arbitrage Active Fund of Funds (Direct) | −1.9% | 02-04-2025 | 07-04-2025 | 11-04-2025 | 4 days | −0.0% |
From daily values since 19-11-2024, 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.
Franklin India Arbitrage Fund (Direct)
Franklin India Income Plus Arbitrage Active Fund of Funds (Direct)
Franklin India Arbitrage vs Franklin India Income Plus Arbitrage Active Fund of Funds: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Arbitrage Fund, September 2026; Franklin India Income Plus Arbitrage Active Fund of Funds, September 2026
Holdings in common
- Overlap
- 12.0%
- Held by both
- 1
- Only in Franklin India Arbitrage
- 143
- Only in Franklin India Income Plus Arbitrage Active Fund of Funds
- 9
| Security | % of Franklin India Arbitrage | % of Franklin India Income Plus Arbitrage Active Fund of Funds |
|---|---|---|
| Franklin India Money Market Fund Direct-Growth Plan | 12.02% | 19.81% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 12.0% means 12.0% 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 Franklin India Arbitrage Fund
| Security | % of fund |
|---|---|
| ICICI Bank Ltd | 6.04% |
| HDFC Bank Ltd | 5.79% |
| Reliance Industries Ltd | 4.13% |
| Axis Bank Ltd | 3.37% |
| Canara Bank (30-Nov-2026) | 2.58% |
Largest holdings only in Franklin India Income Plus Arbitrage Active Fund of Funds
| Security | % of fund |
|---|---|
| Franklin India Arbitrage Fund - Direct Plan - Growth | 19.72% |
| Franklin India Corporate Bond Fund - Direct Plan - Growth | 19.72% |
| Franklin India Gilt Fund - Direct Plan - Growth | 10.37% |
| Aditya Birla Sun Life Arbitrage Fund - Direct Plan - Growth | 7.32% |
| Kotak Arbitrage Fund - Direct Plan - Growth | 7.12% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Arbitrage | Franklin India Income Plus Arbitrage Active Fund of Funds |
|---|---|---|
| Equity | 71.4% | 0.0% |
| Debt | 14.5% | 0.0% |
| Cash and others | 14.1% | 100.0% |
Market cap of stocks
| Market cap | Franklin India Arbitrage | Franklin India Income Plus Arbitrage Active Fund of Funds |
|---|---|---|
| Large Cap | 51.9% | -- |
| Mid Cap | 17.7% | -- |
| Small Cap | 1.8% | -- |
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 | Franklin India Arbitrage | Franklin India Income Plus Arbitrage Active Fund of Funds |
|---|---|---|
| Banks | 23.5% | 0.0% |
| Telecom - Services | 5.4% | 0.0% |
| Petroleum Products | 4.2% | 0.0% |
| Automobiles | 4.1% | 0.0% |
| Pharmaceuticals & Biotechnology | 3.0% | 0.0% |
| Finance | 2.8% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Arbitrage vs Franklin India Income Plus Arbitrage Active Fund of Funds: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Arbitrage Fund | Franklin India Income Plus Arbitrage Active Fund of Funds |
|---|---|---|
| Total expense ratio (Direct) | 1.20% | 0.20% |
| Base expense ratio (Direct) | 0.23% | 0.17% |
| Total expense ratio (Regular) | 1.97% | 0.53% |
| Base expense ratio (Regular) | 0.89% | 0.45% |
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
Franklin India Arbitrage Fund vs Franklin India Income Plus Arbitrage Active Fund of Funds: Frequently Asked Questions
What is the difference between Franklin India Arbitrage Fund and Franklin India Income Plus Arbitrage Active Fund of Funds?
Franklin India Arbitrage Fund is an Arbitrage fund, Franklin India Income Plus Arbitrage Active Fund of Funds is a Fund of Funds fund, run by Franklin Templeton Mutual Fund. Their portfolios overlap 12.0%. Franklin India Arbitrage Fund charges 1.20% a year and Franklin India Income Plus Arbitrage Active Fund of Funds 0.20%.
Which has given higher returns, Franklin India Arbitrage Fund or Franklin India Income Plus Arbitrage Active Fund of Funds?
Over 1 year: Franklin India Arbitrage Fund +7.13%, Franklin India Income Plus Arbitrage Active Fund of Funds +5.65%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin India Arbitrage Fund or Franklin India Income Plus Arbitrage Active Fund of Funds?
Franklin India Income Plus Arbitrage Active Fund of Funds charges less: 0.20% a year against 1.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India Arbitrage Fund and Franklin India Income Plus Arbitrage Active Fund of Funds overlap?
12.0%. They hold 1 of the same securities, the largest shared ones being Franklin India Money Market Fund Direct-Growth Plan. From each fund's latest monthly portfolio.
Can I invest in both Franklin India Arbitrage Fund and Franklin India Income Plus Arbitrage Active Fund of Funds?
Yes. 12.0% 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.