Franklin India Arbitrage Fund vs Groww NIFTY 200 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Franklin India Arbitrage Fund is an Arbitrage fund and Groww NIFTY 200 ETF is an ETF fund. In the year to 30-10-2026, Franklin India Arbitrage Fund (Direct) returned 7.1% and Groww NIFTY 200 ETF returned −8.2%. Franklin India Arbitrage Fund charges 1.20% a year and Groww NIFTY 200 ETF 0.43%. Their portfolios overlap 51.2%: they hold 120 of the same securities.
Franklin India Arbitrage Fund
Arbitrage
- 1 year return
- 7.1%
- Expense ratio
- 1.20%
- NAV
- ₹11.42
Which is better, Franklin India Arbitrage or Groww NIFTY 200 ETF? 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 −8.2%.
- Groww NIFTY 200 ETF costs less: 0.43% a year against 1.20%.
- Franklin India Arbitrage fell less in its worst fall since 27-02-2025: −0.4% against −14.8%.
- Groww NIFTY 200 ETF holds more in large companies: 79.6% of the fund in large caps against 51.9%.
- Franklin India Arbitrage is the larger fund: ₹1,921 Cr against ₹16 Cr.
- Their portfolios overlap 51.2%: 120 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 | Groww NIFTY 200 ETF |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Groww Mutual Fund |
| Category | Arbitrage | ETF |
| AUM | ₹1,921 Cr (30-09-2026) | ₹16 Cr (30-09-2026) |
| NAV | ₹11.42 (Direct) | ₹10.72 |
| Expense ratio (Direct) | 1.20% | Not available |
| Expense ratio (Regular) | 1.97% | Not available |
| Riskometer | Not available | Very High |
| Benchmark | Not available | Nifty 200 TRI |
| Launch date | Not available | 25-02-2025 |
| Minimum investment | Not available | ₹500 |
| Lock in | Not available | None |
| Fund managers | Not available | Nikhil Satam, Aakash Chauhan, Shashi Kumar |
| Exit load | Not available | Nil |
Franklin India Arbitrage vs Groww NIFTY 200 ETF: 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% | -- | -- | -- |
| Groww NIFTY 200 ETF | +0.13% | −6.00% | −3.35% | −8.21% | -- | -- | -- |
| 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 Groww NIFTY 200 ETF: Year-wise Returns
| Year | Franklin India ArbitrageFranklin India Arbitrage | Groww NIFTY 200 ETFGroww NIFTY 200 ETF |
|---|---|---|
| 2026to date | +5.84% | −8.79% |
| 2025 | +7.19% | -- |
Franklin India Arbitrage vs Groww NIFTY 200 ETF: Rolling Returns
Every holding period of both funds, against Nifty 200 TRI, the benchmark of Groww NIFTY 200 ETF
Rolling returns
Every 1-year holding period, 164 of them, one for each trading day from 27-02-2026 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.
Franklin India Arbitrage Fund (Direct)
Groww NIFTY 200 ETF
Nifty 200 TRI
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 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 | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin India Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0% | 6.9% | 6.5% | 7.7% | 90% |
| Groww NIFTY 200 ETF | 46.3 | 37.8 | 11.6 | 3.7 | 0.6 | 0.0 | 0.0 | 0.8% | 0.3% | −9.9% | 15.6% | 0% |
| Nifty 200 TRI | 42.1 | 40.2 | 13.4 | 3.0 | 1.2 | 0.0 | 0.0 | 1.2% | 0.7% | −9.6% | 16.1% | -- |
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 Nifty 200 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 27-02-2025. Past returns do not promise future returns.
Franklin India Arbitrage vs Groww NIFTY 200 ETF: 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 03-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin India ArbitrageFranklin India Arbitrage Fund (Direct) | ₹2,10,000 | ₹2,23,496 | ₹13,496 | 7.0% |
| Groww NIFTY 200 ETFGroww NIFTY 200 ETF | ₹2,10,000 | ₹2,04,546 | −₹5,454 | −2.9% |
Franklin India ArbitrageFranklin India Arbitrage Fund (Direct)
Groww NIFTY 200 ETFGroww NIFTY 200 ETF
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 Groww NIFTY 200 ETF: 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) | Groww NIFTY 200 ETF |
|---|---|---|
| Return (CAGR) | +7.13% | −8.21% |
| Standard deviation | 1.42% | 14.33% |
| Sharpe ratio | 1.33 | -0.94 |
| Sortino ratio | 2.08 | -1.24 |
| Maximum drawdown | −0.4% (06-08-2026) | −14.8% (31-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.38% |
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) | Groww NIFTY 200 ETF |
|---|---|---|
| Return (CAGR) | +7.09% | +4.51% |
| Standard deviation | 1.17% | 13.84% |
| Sharpe ratio | 1.25 | -0.07 |
| Sortino ratio | 1.93 | -0.09 |
| Maximum drawdown | −0.4% (06-08-2026) | −14.8% (31-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.43% |
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)
Groww NIFTY 200 ETF
Nifty 200 TRI
| 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% |
| Groww NIFTY 200 ETF | −14.8% | 02-01-2026 | 31-03-2026 | Not yet | -- | −9.7% |
| Nifty 200 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.4% |
From daily values since 27-02-2025, 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.
Franklin India Arbitrage Fund (Direct)
Groww NIFTY 200 ETF
Nifty 200 TRI
Against Nifty 200 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Franklin India Arbitrage Fund (Direct) | 19% | -16% | 15.77% |
| Groww NIFTY 200 ETF | 99% | 101% | 0.06% |
From month-end values since 27-02-2025. 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.
Franklin India Arbitrage vs Groww NIFTY 200 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Arbitrage Fund, September 2026; Groww NIFTY 200 ETF, September 2026
Holdings in common
- Overlap
- 51.2%
- Held by both
- 120
- Only in Franklin India Arbitrage
- 24
- Only in Groww NIFTY 200 ETF
- 80
| Security | % of Franklin India Arbitrage | % of Groww NIFTY 200 ETF |
|---|---|---|
| ICICI Bank Ltd | 6.04% | 5.86% |
| HDFC Bank Ltd | 5.79% | 6.72% |
| Reliance Industries Ltd | 4.13% | 4.91% |
| Bharti Airtel Ltd | 2.55% | 3.31% |
| Axis Bank Ltd | 3.37% | 2.18% |
| Larsen & Toubro Ltd | 1.88% | 2.72% |
| State Bank of India | 1.78% | 2.45% |
| Bajaj Finance Ltd | 1.03% | 1.62% |
| Sun Pharmaceutical Industries Ltd | 0.98% | 1.19% |
| Maruti Suzuki India Ltd | 1.38% | 0.96% |
| Mahindra & Mahindra Ltd | 0.92% | 1.63% |
| Bharat Electronics Ltd | 1.33% | 0.86% |
| Hindalco Industries Ltd | 1.79% | 0.84% |
| Hindustan Unilever Ltd | 0.71% | 1.03% |
| Kotak Mahindra Bank Ltd | 0.63% | 1.90% |
| Eicher Motors Ltd | 0.75% | 0.61% |
| Adani Enterprises Ltd | 1.44% | 0.61% |
| TVS Motor Co Ltd | 0.60% | 0.60% |
| Adani Ports and Special Economic Zone Ltd | 0.58% | 0.87% |
| Eternal Ltd | 0.54% | 1.43% |
| Multi Commodity Exchange Of India Ltd | 0.58% | 0.52% |
| Adani Power Ltd | 0.51% | 0.53% |
| Laurus Labs Ltd | 0.81% | 0.48% |
| One 97 Communications Ltd | 0.52% | 0.45% |
| Jio Financial Services Ltd | 0.44% | 0.44% |
| ITC Ltd | 0.40% | 1.57% |
| NTPC Ltd | 0.40% | 0.95% |
| Coforge Ltd | 0.70% | 0.38% |
| Tata Power Co Ltd | 0.60% | 0.37% |
| IndusInd Bank Ltd | 1.22% | 0.37% |
| AU Small Finance Bank Ltd | 0.70% | 0.36% |
| HDFC Life Insurance Co Ltd | 1.82% | 0.35% |
| Bajaj Finserv Ltd | 0.34% | 0.62% |
| IDFC First Bank Ltd | 2.11% | 0.33% |
| Oil & Natural Gas Corporation Ltd | 0.33% | 0.54% |
| JSW Steel Ltd | 0.33% | 0.75% |
| Indus Towers Ltd | 0.48% | 0.30% |
| Info Edge (India) Ltd | 0.53% | 0.29% |
| Coal India Ltd | 0.29% | 0.63% |
| Aurobindo Pharma Ltd | 0.41% | 0.29% |
| Indian Hotels Co Ltd | 0.28% | 0.40% |
| Vedanta Ltd | 0.30% | 0.28% |
| Ashok Leyland Ltd | 0.43% | 0.27% |
| FSN E-Commerce Ventures Ltd | 1.16% | 0.27% |
| Bank of Baroda | 0.29% | 0.26% |
| Marico Ltd | 0.95% | 0.26% |
| Canara Bank | 0.35% | 0.25% |
| APL Apollo Tubes Ltd | 0.65% | 0.25% |
| Cipla Ltd | 0.24% | 0.47% |
| Punjab National Bank | 0.41% | 0.24% |
| Ultratech Cement Ltd | 0.24% | 0.80% |
| PB Fintech Ltd | 0.98% | 0.23% |
| Solar Industries India Ltd | 0.23% | 0.29% |
| Yes Bank Ltd | 0.56% | 0.23% |
| United Spirits Ltd | 0.23% | 0.25% |
| Vodafone Idea Ltd | 2.41% | 0.22% |
| Apollo Hospitals Enterprise Ltd | 0.22% | 0.51% |
| Glenmark Pharmaceuticals Ltd | 0.26% | 0.22% |
| GAIL (India) Ltd | 0.20% | 0.28% |
| Varun Beverages Ltd | 0.20% | 0.37% |
| Tata Motors Passenger Vehicles Ltd | 0.19% | 0.37% |
| UPL Ltd | 1.00% | 0.19% |
| Infosys Ltd | 0.18% | 2.17% |
| Mphasis Ltd | 0.52% | 0.18% |
| Adani Green Energy Ltd | 0.18% | 0.26% |
| Shriram Finance Ltd | 0.17% | 0.85% |
| Hindustan Zinc Ltd | 0.33% | 0.17% |
| NMDC Ltd | 0.16% | 0.16% |
| Steel Authority of India Ltd | 0.69% | 0.16% |
| Bharat Heavy Electricals Ltd | 0.16% | 0.37% |
| National Aluminium Co Ltd | 0.16% | 0.19% |
| Godrej Properties Ltd | 0.41% | 0.14% |
| Adani Energy Solutions Ltd | 0.13% | 0.26% |
| Nestle India Ltd | 0.13% | 0.58% |
| Samvardhana Motherson International Ltd | 0.13% | 0.45% |
| Power Finance Corporation Ltd | 0.11% | 0.29% |
| Ambuja Cements Ltd | 0.11% | 0.14% |
| Jubilant Foodworks Ltd | 0.11% | 0.11% |
| Lupin Ltd | 0.11% | 0.31% |
| Divi's Laboratories Ltd | 0.11% | 0.73% |
| Titan Co Ltd | 0.10% | 1.17% |
| Astral Ltd | 0.22% | 0.10% |
| Motilal Oswal Financial Services Ltd | 0.12% | 0.10% |
| Swiggy Ltd | 0.10% | 0.23% |
| Container Corporation Of India Ltd | 0.16% | 0.10% |
| SBI Life Insurance Co Ltd | 0.09% | 0.47% |
| Power Grid Corporation of India Ltd | 0.09% | 0.73% |
| Kalyan Jewellers India Ltd | 0.09% | 0.13% |
| SBI Cards and Payment Services Ltd | 0.08% | 0.11% |
| Ge Vernova T&D India Ltd | 0.08% | 0.32% |
| Cummins India Ltd | 0.08% | 0.40% |
| Patanjali Foods Ltd | 0.17% | 0.08% |
| L&T Finance Ltd | 0.07% | 0.14% |
| Biocon Ltd | 0.07% | 0.16% |
| LIC Housing Finance Ltd | 0.07% | 0.10% |
| Tata Steel Ltd | 0.07% | 0.95% |
| Dabur India Ltd | 0.06% | 0.14% |
| Grasim Industries Ltd | 0.04% | 0.71% |
| Indian Oil Corporation Ltd | 0.04% | 0.31% |
| Cholamandalam Investment and Finance Co Ltd | 0.04% | 0.43% |
| Interglobe Aviation Ltd | 0.04% | 0.70% |
| BSE Ltd | 0.03% | 0.78% |
| Bank of India | 0.03% | 0.10% |
| JSW Energy Ltd | 0.03% | 0.19% |
| Pidilite Industries Ltd | 0.03% | 0.28% |
| Bharat Petroleum Corporation Ltd | 0.02% | 0.38% |
| Hitachi Energy India Ltd | 0.02% | 0.23% |
| 360 One Wam Ltd | 0.02% | 0.17% |
| HDFC Asset Management Co Ltd | 0.02% | 0.29% |
| ICICI Lombard General Insurance Co Ltd | 0.02% | 0.24% |
| Tata Consumer Products Ltd | 0.01% | 0.38% |
| Colgate Palmolive (India) Ltd | 0.01% | 0.14% |
| Federal Bank Ltd | 0.01% | 0.48% |
| Hindustan Aeronautics Ltd | 0.01% | 0.55% |
| Radico Khaitan Ltd | 0.01% | 0.21% |
| Max Healthcare Institute Ltd | 0.01% | 0.43% |
| Bajaj Auto Ltd | 0.00% | 0.73% |
| Hindustan Petroleum Corporation Ltd | 0.00% | 0.21% |
| Fortis Healthcare Ltd | 0.00% | 0.25% |
| Life Insurance Corporation Of India | 0.00% | 0.31% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 51.2% means 51.2% 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 |
|---|---|
| Franklin India Money Market Fund Direct-Growth Plan | 12.02% |
| Canara Bank (30-Nov-2026) | 2.58% |
| Union Bank of India (16-Mar-2027) | 2.52% |
| National Bank For Agriculture & Rural Development (17-Mar-2027) | 2.52% |
| Indian Bank (04-Dec-2026) | 1.29% |
Largest holdings only in Groww NIFTY 200 ETF
| Security | % of fund |
|---|---|
| Tata Consultancy Services Limited | 1.29% |
| HCL Technologies Limited | 0.80% |
| Asian Paints Limited | 0.67% |
| Tech Mahindra Limited | 0.60% |
| Tata Motors Limited | 0.55% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Arbitrage | Groww NIFTY 200 ETF |
|---|---|---|
| Equity | 71.4% | 99.9% |
| Debt | 14.5% | 0.0% |
| Cash and others | 14.1% | 0.1% |
Market cap of stocks
| Market cap | Franklin India Arbitrage | Groww NIFTY 200 ETF |
|---|---|---|
| Large Cap | 51.9% | 79.6% |
| Mid Cap | 17.7% | 19.9% |
| Small Cap | 1.8% | 0.3% |
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 | Groww NIFTY 200 ETF |
|---|---|---|
| Banks | 23.5% | 22.2% |
| IT - Software | 1.5% | 6.4% |
| Finance | 2.8% | 5.9% |
| Petroleum Products | 4.2% | 5.8% |
| Automobiles | 4.1% | 5.5% |
| Telecom - Services | 5.4% | 3.9% |
| Pharmaceuticals & Biotechnology | 3.0% | 5.1% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Arbitrage vs Groww NIFTY 200 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Arbitrage Fund | Groww NIFTY 200 ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.20% | Not available |
| Base expense ratio (Direct) | 0.23% | 0.35% |
| Total expense ratio (Regular) | 1.97% | Not available |
| Base expense ratio (Regular) | 0.89% | 0.00% |
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 Groww NIFTY 200 ETF: Frequently Asked Questions
What is the difference between Franklin India Arbitrage Fund and Groww NIFTY 200 ETF?
Franklin India Arbitrage Fund is an Arbitrage fund, Groww NIFTY 200 ETF is an ETF fund, run by Franklin Templeton Mutual Fund and Groww Mutual Fund. Their portfolios overlap 51.2%. Franklin India Arbitrage Fund charges 1.20% a year and Groww NIFTY 200 ETF 0.43%.
Which has given higher returns, Franklin India Arbitrage Fund or Groww NIFTY 200 ETF?
Over 1 year: Franklin India Arbitrage Fund +7.13%, Groww NIFTY 200 ETF −8.21%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin India Arbitrage Fund or Groww NIFTY 200 ETF?
Groww NIFTY 200 ETF charges less: 0.43% a year against 1.20%. These are the total expense ratios reported to AMFI.
How much do Franklin India Arbitrage Fund and Groww NIFTY 200 ETF overlap?
51.2%. They hold 120 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Can I invest in both Franklin India Arbitrage Fund and Groww NIFTY 200 ETF?
Yes. 51.2% of each fund's money sits in the same holdings, so a large part 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.