Franklin India Arbitrage Fund vs Motilal Oswal Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India Arbitrage Fund and Motilal Oswal Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, Franklin India Arbitrage Fund (Direct) returned 7.1% and Motilal Oswal Arbitrage Fund (Direct) returned 7.0%. Franklin India Arbitrage Fund charges 1.20% a year and Motilal Oswal Arbitrage Fund 0.99% (Direct plans). Their portfolios overlap 42.6%: they hold 99 of the same securities.
Franklin India Arbitrage Fund
Arbitrage
- 1 year return
- 7.1%
- Expense ratio
- 1.20%
- NAV
- ₹11.42
Motilal Oswal Arbitrage Fund
Arbitrage
- 1 year return
- 7.0%
- Expense ratio
- 0.99%
- NAV
- ₹11.37
Which is better, Franklin India Arbitrage or Motilal Oswal Arbitrage? 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 7.0%.
- Motilal Oswal Arbitrage costs less: 0.99% a year against 1.20% (Direct plans).
- Motilal Oswal Arbitrage fell less in its worst fall since 27-12-2024: −0.4% against −0.4%.
- Motilal Oswal Arbitrage is the larger fund: ₹3,434 Cr against ₹1,921 Cr.
- Their portfolios overlap 42.6%: 99 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 | Motilal Oswal Arbitrage Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹1,921 Cr (30-09-2026) | ₹3,434 Cr (30-09-2026) |
| NAV | ₹11.42 (Direct) | ₹11.37 (Direct) |
| Expense ratio (Direct) | 1.20% | 0.99% |
| Expense ratio (Regular) | 1.97% | 1.98% |
| Riskometer | Not available | Low |
| Benchmark | Not available | Nifty 50 Arbitrage TRI |
| Launch date | Not available | 23-12-2024 |
| Minimum investment | Not available | ₹500 |
| Lock in | Not available | None |
| Fund managers | Not available | Vishal Ashar, Atul Mehra, Rakesh Shetty |
| Exit load | Not available | 0.25% - If redeemed within 30 days from the day of allotment. Nil - If redeemed after 30 days from the date of allotment. |
Franklin India Arbitrage vs Motilal Oswal 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 |
|---|---|---|---|---|---|---|---|
| Franklin India Arbitrage Fund (Direct) | +0.58% | +1.71% | +3.51% | +7.13% | -- | -- | -- |
| Motilal Oswal Arbitrage Fund (Direct) | +0.48% | +1.54% | +3.30% | +6.98% | -- | -- | -- |
| 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 Motilal Oswal Arbitrage: Year-wise Returns
| Year | Franklin IndiaFranklin India Arbitrage | Motilal OswalMotilal Oswal Arbitrage |
|---|---|---|
| 2026to date | +5.84% | +5.62% |
| 2025 | +7.19% | +7.46% |
Franklin India Arbitrage vs Motilal Oswal Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 206 of them, one for each trading day from 29-12-2025 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)
Motilal Oswal Arbitrage Fund (Direct)
to
Jan 2026Mar 2025
to
Mar 2026May 2025
to
May 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% |
| Motilal Oswal Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.2% | 7.2% | 6.7% | 7.6% |
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 27-12-2024. Past returns do not promise future returns.
Franklin India Arbitrage vs Motilal Oswal 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 02-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin India ArbitrageFranklin India Arbitrage Fund (Direct) | ₹2,30,000 | ₹2,46,239 | ₹16,239 | 7.0% |
| Motilal Oswal ArbitrageMotilal Oswal Arbitrage Fund (Direct) | ₹2,30,000 | ₹2,45,995 | ₹15,995 | 6.9% |
Franklin India ArbitrageFranklin India Arbitrage Fund (Direct)
Motilal Oswal ArbitrageMotilal Oswal 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.
Franklin India Arbitrage vs Motilal Oswal Arbitrage: 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) | Motilal Oswal Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.13% | +6.98% |
| Standard deviation | 1.42% | 1.39% |
| Sharpe ratio | 1.33 | 1.24 |
| Sortino ratio | 2.08 | 1.88 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.4% (06-08-2026) |
| 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 | Franklin India Arbitrage Fund (Direct) | Motilal Oswal Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.09% | +7.14% |
| Standard deviation | 1.17% | 1.16% |
| Sharpe ratio | 1.25 | 1.37 |
| Sortino ratio | 1.93 | 2.08 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.4% (06-08-2026) |
| 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)
Motilal Oswal Arbitrage Fund (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% |
| Motilal Oswal Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | −0.0% |
From daily values since 27-12-2024, 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)
Motilal Oswal Arbitrage Fund (Direct)
Franklin India Arbitrage vs Motilal Oswal Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Arbitrage Fund, September 2026; Motilal Oswal Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 42.6%
- Held by both
- 99
- Only in Franklin India Arbitrage
- 45
- Only in Motilal Oswal Arbitrage
- 39
| Security | % of Franklin India Arbitrage | % of Motilal Oswal Arbitrage |
|---|---|---|
| HDFC Bank Ltd | 5.79% | 5.41% |
| Reliance Industries Ltd | 4.13% | 4.58% |
| Bharti Airtel Ltd | 2.55% | 3.63% |
| Axis Bank Ltd | 3.37% | 2.53% |
| ICICI Bank Ltd | 6.04% | 2.28% |
| Maruti Suzuki India Ltd | 1.38% | 1.73% |
| Vodafone Idea Ltd | 2.41% | 1.34% |
| Larsen & Toubro Ltd | 1.88% | 1.19% |
| State Bank of India | 1.78% | 1.11% |
| Adani Enterprises Ltd | 1.44% | 1.11% |
| Bajaj Finance Ltd | 1.03% | 1.72% |
| Mahindra & Mahindra Ltd | 0.92% | 1.53% |
| IndusInd Bank Ltd | 1.22% | 0.75% |
| Sun Pharmaceutical Industries Ltd | 0.98% | 0.74% |
| Indian Bank (10-Dec-2026) | 1.29% | 0.72% |
| Union Bank of India (16-Mar-2027) | 2.52% | 0.71% |
| National Bank For Agriculture & Rural Development (17-Mar-2027) | 2.52% | 0.71% |
| AU Small Finance Bank Ltd | 0.70% | 3.07% |
| Steel Authority of India Ltd | 0.69% | 1.23% |
| Small Industries Development Bank of India (11-Jun-2027) | 1.24% | 0.69% |
| Kotak Mahindra Bank Ltd | 0.63% | 2.39% |
| TVS Motor Co Ltd | 0.60% | 3.37% |
| HDFC Life Insurance Co Ltd | 1.82% | 0.57% |
| Bharat Electronics Ltd | 1.33% | 0.53% |
| One 97 Communications Ltd | 0.52% | 1.10% |
| Jio Financial Services Ltd | 0.44% | 0.68% |
| Ashok Leyland Ltd | 0.43% | 0.97% |
| Eternal Ltd | 0.54% | 0.43% |
| ITC Ltd | 0.40% | 0.50% |
| Bajaj Finserv Ltd | 0.34% | 0.43% |
| Yes Bank Ltd | 0.56% | 0.34% |
| Indus Towers Ltd | 0.48% | 0.34% |
| JSW Steel Ltd | 0.33% | 0.31% |
| Bank of Baroda | 0.29% | 0.25% |
| Cipla Ltd | 0.24% | 0.32% |
| Multi Commodity Exchange Of India Ltd | 0.58% | 0.24% |
| Eicher Motors Ltd | 0.75% | 0.21% |
| Hindustan Unilever Ltd | 0.71% | 0.19% |
| Infosys Ltd | 0.18% | 0.30% |
| Adani Green Energy Ltd | 0.18% | 0.29% |
| Patanjali Foods Ltd | 0.17% | 0.28% |
| Marico Ltd | 0.95% | 0.17% |
| Godrej Properties Ltd | 0.41% | 0.17% |
| Shriram Finance Ltd | 0.17% | 0.69% |
| Angel One Ltd | 0.17% | 0.36% |
| NMDC Ltd | 0.16% | 0.26% |
| PNB Housing Finance Ltd | 0.16% | 0.63% |
| Canara Bank | 0.35% | 0.16% |
| Vedanta Ltd | 0.30% | 0.16% |
| Ultratech Cement Ltd | 0.24% | 0.16% |
| Bharat Heavy Electricals Ltd | 0.16% | 0.52% |
| Apollo Hospitals Enterprise Ltd | 0.22% | 0.15% |
| IDFC First Bank Ltd | 2.11% | 0.14% |
| Samvardhana Motherson International Ltd | 0.13% | 0.88% |
| Bandhan Bank Ltd | 0.20% | 0.12% |
| Divi's Laboratories Ltd | 0.11% | 0.25% |
| Adani Ports and Special Economic Zone Ltd | 0.58% | 0.10% |
| Aurobindo Pharma Ltd | 0.41% | 0.10% |
| Ambuja Cements Ltd | 0.11% | 0.10% |
| Swiggy Ltd | 0.10% | 0.26% |
| NBCC (India) Ltd | 0.12% | 0.09% |
| Kalyan Jewellers India Ltd | 0.09% | 0.39% |
| SBI Cards and Payment Services Ltd | 0.08% | 0.27% |
| Hindalco Industries Ltd | 1.79% | 0.08% |
| Coforge Ltd | 0.70% | 0.08% |
| Indian Hotels Co Ltd | 0.28% | 0.08% |
| Lupin Ltd | 0.11% | 0.08% |
| Cummins India Ltd | 0.08% | 0.26% |
| Info Edge (India) Ltd | 0.53% | 0.07% |
| Varun Beverages Ltd | 0.20% | 0.07% |
| Biocon Ltd | 0.07% | 0.10% |
| LIC Housing Finance Ltd | 0.07% | 0.15% |
| Tata Steel Ltd | 0.07% | 0.35% |
| APL Apollo Tubes Ltd | 0.65% | 0.06% |
| SBI Life Insurance Co Ltd | 0.09% | 0.06% |
| Crompton Greaves Consumer Electricals Ltd | 0.05% | 0.15% |
| GAIL (India) Ltd | 0.20% | 0.05% |
| Tata Motors Passenger Vehicles Ltd | 0.19% | 0.05% |
| Grasim Industries Ltd | 0.04% | 0.29% |
| Adani Energy Solutions Ltd | 0.13% | 0.04% |
| Cholamandalam Investment and Finance Co Ltd | 0.04% | 3.49% |
| Interglobe Aviation Ltd | 0.04% | 1.74% |
| Oil & Natural Gas Corporation Ltd | 0.33% | 0.03% |
| Indian Energy Exchange Ltd | 0.03% | 0.07% |
| Pidilite Industries Ltd | 0.03% | 0.09% |
| Bharat Petroleum Corporation Ltd | 0.02% | 0.03% |
| HDFC Asset Management Co Ltd | 0.02% | 0.10% |
| Tata Consumer Products Ltd | 0.01% | 0.03% |
| NTPC Ltd | 0.40% | 0.01% |
| Glenmark Pharmaceuticals Ltd | 0.26% | 0.01% |
| United Spirits Ltd | 0.23% | 0.01% |
| Titan Co Ltd | 0.10% | 0.01% |
| Dabur India Ltd | 0.06% | 0.01% |
| Federal Bank Ltd | 0.01% | 0.11% |
| Hindustan Aeronautics Ltd | 0.01% | 0.14% |
| Radico Khaitan Ltd | 0.01% | 0.01% |
| Bajaj Auto Ltd | 0.00% | 0.13% |
| Hindustan Petroleum Corporation Ltd | 0.00% | 0.02% |
| Life Insurance Corporation Of India | 0.00% | 0.14% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.6% means 42.6% 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% |
| Indian Bank (04-Dec-2026) | 1.29% |
| HDFC Bank Ltd (14-Dec-2026) | 1.28% |
| HDFC Bank Ltd (24-Feb-2027) | 1.27% |
Largest holdings only in Motilal Oswal Arbitrage Fund
| Security | % of fund |
|---|---|
| Motilal Oswal Liquid Fund - Direct Growth | 7.13% |
| CG Power and Industrial Solutions Limited | 2.37% |
| Aditya Birla Capital Limited | 2.15% |
| Motilal Oswal Ultra Short Term Fund (MOFUSTF) -Direct Plan- Growth | 2.07% |
| Inox Wind Limited | 0.87% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Arbitrage | Motilal Oswal Arbitrage |
|---|---|---|
| Equity | 71.4% | 71.3% |
| Debt | 14.5% | 14.3% |
| Cash and others | 14.1% | 14.4% |
Market cap of stocks
| Market cap | Franklin India Arbitrage | Motilal Oswal Arbitrage |
|---|---|---|
| Large Cap | 51.9% | 53.6% |
| Mid Cap | 17.7% | 13.5% |
| Small Cap | 1.8% | 4.2% |
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 | Motilal Oswal Arbitrage |
|---|---|---|
| Banks | 23.5% | 19.4% |
| Finance | 2.8% | 10.5% |
| Automobiles | 4.1% | 7.1% |
| Telecom - Services | 5.4% | 5.3% |
| Petroleum Products | 4.2% | 4.6% |
| Electrical Equipment | 0.3% | 4.2% |
| Pharmaceuticals & Biotechnology | 3.0% | 1.7% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Arbitrage vs Motilal Oswal Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Arbitrage Fund | Motilal Oswal Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.20% | 0.99% |
| Base expense ratio (Direct) | 0.23% | 0.10% |
| Total expense ratio (Regular) | 1.97% | 1.98% |
| Base expense ratio (Regular) | 0.89% | 1.00% |
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
Compare Franklin India Arbitrage with
Franklin India Arbitrage Fund vs Motilal Oswal Arbitrage Fund: Frequently Asked Questions
What is the difference between Franklin India Arbitrage Fund and Motilal Oswal Arbitrage Fund?
Both are Arbitrage funds, run by Franklin Templeton Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 42.6%. Franklin India Arbitrage Fund charges 1.20% a year and Motilal Oswal Arbitrage Fund 0.99%.
Which has given higher returns, Franklin India Arbitrage Fund or Motilal Oswal Arbitrage Fund?
Over 1 year: Franklin India Arbitrage Fund +7.13%, Motilal Oswal Arbitrage Fund +6.98%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin India Arbitrage Fund or Motilal Oswal Arbitrage Fund?
Motilal Oswal Arbitrage Fund charges less: 0.99% a year against 1.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India Arbitrage Fund and Motilal Oswal Arbitrage Fund overlap?
42.6%. They hold 99 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, BHARTIARTL. From each fund's latest monthly portfolio.
Can I invest in both Franklin India Arbitrage Fund and Motilal Oswal Arbitrage Fund?
Yes. 42.6% 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.