Franklin India Arbitrage Fund vs Tata Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India Arbitrage Fund and Tata Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, Franklin India Arbitrage Fund (Direct) returned 7.1% and Tata Arbitrage Fund (Direct) returned 6.8%. Franklin India Arbitrage Fund charges 1.20% a year and Tata Arbitrage Fund 1.57% (Direct plans). Their portfolios overlap 42.3%: they hold 113 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 Tata 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 6.8%.
- Franklin India Arbitrage costs less: 1.20% a year against 1.57% (Direct plans).
- Tata Arbitrage fell less in its worst fall since 19-11-2024: −0.4% against −0.4%.
- Tata Arbitrage is the larger fund: ₹24,539 Cr against ₹1,921 Cr.
- Their portfolios overlap 42.3%: 113 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 | Tata Arbitrage Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Tata Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹1,921 Cr (30-09-2026) | ₹24,539 Cr (30-09-2026) |
| NAV | ₹11.42 (Direct) | ₹16.46 (Direct) |
| Expense ratio (Direct) | 1.20% | 1.57% |
| Expense ratio (Regular) | 1.97% | 2.25% |
| Riskometer | Not available | Low |
| Benchmark | Not available | Nifty 50 Arbitrage Index |
| Launch date | Not available | 18-12-2018 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | Not available | None |
| Fund managers | Not available | Sailesh Jain |
| Exit load | Not available | Exit load of 0.25%, if redeemed within 15 days. |
Franklin India Arbitrage vs Tata 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% | -- | -- | -- |
| Tata Arbitrage Fund (Direct) | +0.50% | +1.52% | +3.24% | +6.77% | +7.43% | +6.90% | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Franklin India Arbitrage vs Tata Arbitrage: Year-wise Returns
| Year | Franklin IndiaFranklin India Arbitrage | TataTata Arbitrage |
|---|---|---|
| 2026to date | +5.84% | +5.46% |
| 2025 | +7.19% | +7.26% |
| 2024 | -- | +8.36% |
| 2023 | -- | +7.93% |
| 2022 | -- | +4.86% |
| 2021 | -- | +4.54% |
Franklin India Arbitrage vs Tata Arbitrage: 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)
Tata Arbitrage Fund (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% |
| Tata Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.9% | 6.8% | 6.3% | 7.3% |
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 Tata 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 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% |
| Tata ArbitrageTata Arbitrage Fund (Direct) | ₹2,40,000 | ₹2,56,960 | ₹16,960 | 6.7% |
Franklin India ArbitrageFranklin India Arbitrage Fund (Direct)
Tata ArbitrageTata 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 Tata 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) | Tata Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.13% | +6.77% |
| Standard deviation | 1.42% | 1.26% |
| Sharpe ratio | 1.33 | 1.21 |
| Sortino ratio | 2.08 | 1.89 |
| 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) | Tata Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.09% | +6.55% |
| Standard deviation | 1.17% | 1.01% |
| Sharpe ratio | 1.25 | 1.32 |
| Sortino ratio | 1.93 | 2.01 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.6% (03-06-2020) |
| 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)
Tata 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% |
| Tata Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 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)
Tata Arbitrage Fund (Direct)
Franklin India Arbitrage vs Tata Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India Arbitrage Fund, September 2026; Tata Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 42.3%
- Held by both
- 113
- Only in Franklin India Arbitrage
- 31
- Only in Tata Arbitrage
- 68
| Security | % of Franklin India Arbitrage | % of Tata Arbitrage |
|---|---|---|
| HDFC Bank Ltd | 5.79% | 7.89% |
| ICICI Bank Ltd | 6.04% | 4.34% |
| Reliance Industries Ltd | 4.13% | 4.28% |
| Axis Bank Ltd | 3.37% | 2.36% |
| Vodafone Idea Ltd | 2.41% | 1.50% |
| Bharti Airtel Ltd | 2.55% | 1.27% |
| State Bank of India | 1.78% | 1.21% |
| National Bank For Agriculture & Rural Development (17-Mar-2027) | 2.52% | 1.09% |
| Hindalco Industries Ltd | 1.79% | 1.08% |
| IDFC First Bank Ltd | 2.11% | 0.75% |
| Hindustan Unilever Ltd | 0.71% | 0.83% |
| Steel Authority of India Ltd | 0.69% | 1.31% |
| Bharat Electronics Ltd | 1.33% | 0.68% |
| TVS Motor Co Ltd | 0.60% | 0.63% |
| Kotak Mahindra Bank Ltd | 0.63% | 0.60% |
| Adani Enterprises Ltd | 1.44% | 0.59% |
| Coforge Ltd | 0.70% | 0.58% |
| HDFC Life Insurance Co Ltd | 1.82% | 0.56% |
| APL Apollo Tubes Ltd | 0.65% | 0.53% |
| IndusInd Bank Ltd | 1.22% | 0.52% |
| Adani Power Ltd | 0.51% | 1.11% |
| Indus Towers Ltd | 0.48% | 1.21% |
| Jio Financial Services Ltd | 0.44% | 1.20% |
| Multi Commodity Exchange Of India Ltd | 0.58% | 0.43% |
| Punjab National Bank | 0.41% | 0.46% |
| Godrej Properties Ltd | 0.41% | 0.49% |
| Yes Bank Ltd | 0.56% | 0.40% |
| NTPC Ltd | 0.40% | 0.50% |
| Tata Power Co Ltd | 0.60% | 0.36% |
| Canara Bank | 0.35% | 1.09% |
| JSW Steel Ltd | 0.33% | 0.84% |
| Info Edge (India) Ltd | 0.53% | 0.31% |
| Ashok Leyland Ltd | 0.43% | 0.31% |
| Aurobindo Pharma Ltd | 0.41% | 0.30% |
| Bank of Baroda | 0.29% | 0.40% |
| Coal India Ltd | 0.29% | 1.00% |
| Indian Hotels Co Ltd | 0.28% | 0.36% |
| Bajaj Finance Ltd | 1.03% | 0.27% |
| Manappuram Finance Ltd | 0.27% | 0.70% |
| Glenmark Pharmaceuticals Ltd | 0.26% | 0.43% |
| ITC Ltd | 0.40% | 0.26% |
| Marico Ltd | 0.95% | 0.25% |
| Varun Beverages Ltd | 0.20% | 0.85% |
| Bandhan Bank Ltd | 0.20% | 0.67% |
| Tata Motors Passenger Vehicles Ltd | 0.19% | 0.67% |
| Apollo Hospitals Enterprise Ltd | 0.22% | 0.19% |
| Infosys Ltd | 0.18% | 0.28% |
| Adani Green Energy Ltd | 0.18% | 0.87% |
| Patanjali Foods Ltd | 0.17% | 0.22% |
| Oil & Natural Gas Corporation Ltd | 0.33% | 0.17% |
| Shriram Finance Ltd | 0.17% | 0.19% |
| NMDC Ltd | 0.16% | 0.74% |
| Container Corporation Of India Ltd | 0.16% | 0.25% |
| Bharat Heavy Electricals Ltd | 0.16% | 0.90% |
| Mahindra & Mahindra Ltd | 0.92% | 0.15% |
| Adani Energy Solutions Ltd | 0.13% | 0.85% |
| Samvardhana Motherson International Ltd | 0.13% | 0.22% |
| NBCC (India) Ltd | 0.12% | 0.16% |
| Power Finance Corporation Ltd | 0.11% | 0.62% |
| Ambuja Cements Ltd | 0.11% | 0.57% |
| PB Fintech Ltd | 0.98% | 0.11% |
| Mphasis Ltd | 0.52% | 0.11% |
| Lupin Ltd | 0.11% | 0.12% |
| Divi's Laboratories Ltd | 0.11% | 0.92% |
| Swiggy Ltd | 0.10% | 0.14% |
| Ultratech Cement Ltd | 0.24% | 0.09% |
| Kalyan Jewellers India Ltd | 0.09% | 0.30% |
| Ge Vernova T&D India Ltd | 0.08% | 0.19% |
| Maruti Suzuki India Ltd | 1.38% | 0.08% |
| Bajaj Finserv Ltd | 0.34% | 0.08% |
| Cummins India Ltd | 0.08% | 0.91% |
| AU Small Finance Bank Ltd | 0.70% | 0.07% |
| Biocon Ltd | 0.07% | 0.47% |
| LIC Housing Finance Ltd | 0.07% | 0.29% |
| Tata Steel Ltd | 0.07% | 0.74% |
| Larsen & Toubro Ltd | 1.88% | 0.06% |
| Crompton Greaves Consumer Electricals Ltd | 0.05% | 0.39% |
| Cipla Ltd | 0.24% | 0.05% |
| Solar Industries India Ltd | 0.23% | 0.05% |
| Computer Age Management Services Ltd | 0.18% | 0.05% |
| Indian Oil Corporation Ltd | 0.04% | 0.74% |
| Hindustan Zinc Ltd | 0.33% | 0.04% |
| National Aluminium Co Ltd | 0.16% | 0.04% |
| Cholamandalam Investment and Finance Co Ltd | 0.04% | 0.09% |
| Interglobe Aviation Ltd | 0.04% | 0.09% |
| Bank of India | 0.03% | 0.24% |
| JSW Energy Ltd | 0.03% | 0.40% |
| Dabur India Ltd | 0.06% | 0.03% |
| Indian Energy Exchange Ltd | 0.03% | 0.19% |
| Bharat Petroleum Corporation Ltd | 0.02% | 0.16% |
| Eicher Motors Ltd | 0.75% | 0.02% |
| Vedanta Ltd | 0.30% | 0.02% |
| GAIL (India) Ltd | 0.20% | 0.02% |
| PNB Housing Finance Ltd | 0.16% | 0.02% |
| Titan Co Ltd | 0.10% | 0.02% |
| Pidilite Industries Ltd | 0.03% | 0.02% |
| HDFC Asset Management Co Ltd | 0.02% | 0.56% |
| ICICI Lombard General Insurance Co Ltd | 0.02% | 0.28% |
| Tata Consumer Products Ltd | 0.01% | 0.09% |
| Sun Pharmaceutical Industries Ltd | 0.98% | 0.01% |
| Laurus Labs Ltd | 0.81% | 0.01% |
| Eternal Ltd | 0.54% | 0.01% |
| One 97 Communications Ltd | 0.52% | 0.01% |
| Nestle India Ltd | 0.13% | 0.01% |
| Sagility Ltd | 0.08% | 0.01% |
| Grasim Industries Ltd | 0.04% | 0.01% |
| Federal Bank Ltd | 0.01% | 0.33% |
| Hindustan Aeronautics Ltd | 0.01% | 0.61% |
| Radico Khaitan Ltd | 0.01% | 0.03% |
| Max Healthcare Institute Ltd | 0.01% | 0.01% |
| Hindustan Petroleum Corporation Ltd | 0.00% | 0.02% |
| Fortis Healthcare Ltd | 0.00% | 0.11% |
| Life Insurance Corporation Of India | 0.00% | 0.42% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.3% means 42.3% 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% |
| Indian Bank (04-Dec-2026) | 1.29% |
| Indian Bank (10-Dec-2026) | 1.29% |
Largest holdings only in Tata Arbitrage Fund
| Security | % of fund |
|---|---|
| TATA MONEY MARKET FUND | 12.05% |
| ** - SMALL INDUST DEVLOP BANK OF INDIA - CD - 23/10/2026 | 2.03% |
| ** - NABARD - CD - 28/01/2027 | 1.49% |
| ** - NATIONAL BANK FOR FINANCING INFRASTRUCTURE AND DEVELOPMENT - CD - 12/03/2027 | 1.38% |
| ** - SMALL INDUST DEVLOP BANK OF INDIA - CD - 25/03/2027 | 1.38% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India Arbitrage | Tata Arbitrage |
|---|---|---|
| Equity | 71.4% | 64.8% |
| Debt | 14.5% | 21.7% |
| Cash and others | 14.1% | 13.5% |
Market cap of stocks
| Market cap | Franklin India Arbitrage | Tata Arbitrage |
|---|---|---|
| Large Cap | 51.9% | 50.0% |
| Mid Cap | 17.7% | 12.1% |
| Small Cap | 1.8% | 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 | Franklin India Arbitrage | Tata Arbitrage |
|---|---|---|
| Banks | 23.5% | 21.6% |
| Telecom - Services | 5.4% | 4.0% |
| Petroleum Products | 4.2% | 5.2% |
| Automobiles | 4.1% | 1.6% |
| Power | 1.9% | 4.1% |
| Finance | 2.8% | 3.7% |
| Ferrous Metals | 1.1% | 3.0% |
| Pharmaceuticals & Biotechnology | 3.0% | 2.5% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India Arbitrage vs Tata Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India Arbitrage Fund | Tata Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.20% | 1.57% |
| Base expense ratio (Direct) | 0.23% | 0.26% |
| Total expense ratio (Regular) | 1.97% | 2.25% |
| Base expense ratio (Regular) | 0.89% | 0.91% |
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 Tata Arbitrage Fund: Frequently Asked Questions
What is the difference between Franklin India Arbitrage Fund and Tata Arbitrage Fund?
Both are Arbitrage funds, run by Franklin Templeton Mutual Fund and Tata Mutual Fund. Their portfolios overlap 42.3%. Franklin India Arbitrage Fund charges 1.20% a year and Tata Arbitrage Fund 1.57%.
Which has given higher returns, Franklin India Arbitrage Fund or Tata Arbitrage Fund?
Over 1 year: Franklin India Arbitrage Fund +7.13%, Tata Arbitrage Fund +6.77%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin India Arbitrage Fund or Tata Arbitrage Fund?
Franklin India Arbitrage Fund charges less: 1.20% a year against 1.57%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India Arbitrage Fund and Tata Arbitrage Fund overlap?
42.3%. They hold 113 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Can I invest in both Franklin India Arbitrage Fund and Tata Arbitrage Fund?
Yes. 42.3% 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.