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    Groww NIFTY 200 ETF vs Invesco India Arbitrage Fund

    Direct Plan where a fund has one, Growth option · Data as on 30-10-2026

    Groww NIFTY 200 ETF is an ETF fund and Invesco India Arbitrage Fund is an Arbitrage fund. In the year to 30-10-2026, Groww NIFTY 200 ETF returned −8.2% and Invesco India Arbitrage Fund (Direct) returned 6.9%. Groww NIFTY 200 ETF charges 0.43% a year and Invesco India Arbitrage Fund 2.20%. Their portfolios overlap 51.1%: they hold 160 of the same securities.

    Groww NIFTY 200 ETF

    ETF

    1 year return
    −8.2%
    Expense ratio
    0.43%
    NAV
    ₹10.72
    See Groww NIFTY 200 ETF

    Invesco India Arbitrage Fund

    Arbitrage

    1 year return
    6.9%
    Expense ratio
    2.20%
    NAV
    ₹37.63
    See Invesco India Arbitrage Fund

    Which is better, Groww NIFTY 200 ETF or Invesco India Arbitrage? Key differences

    It depends on what you want from the fund. These are the differences in numbers, from the data on this page.

    • Invesco India Arbitrage returned more over 1 year: 6.9% against −8.2%.
    • Groww NIFTY 200 ETF costs less: 0.43% a year against 2.20%.
    • Invesco 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 53.9%.
    • Invesco India Arbitrage is the larger fund: ₹30,396 Cr against ₹16 Cr.
    • Their portfolios overlap 51.1%: 160 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

    FactGroww NIFTY 200 ETFInvesco India Arbitrage Fund
    Fund houseGroww Mutual FundInvesco Mutual Fund
    CategoryETFArbitrage
    AUM₹16 Cr (30-09-2026)₹30,396 Cr (30-09-2026)
    NAV₹10.72₹37.63 (Direct)
    Expense ratio (Direct)Not available2.20%
    Expense ratio (Regular)Not available2.87%
    RiskometerVery HighLow
    BenchmarkNifty 200 TRINifty 50 Arbitrage Index
    Launch date25-02-202530-04-2007
    Minimum investment₹500Not available
    Lock inNoneNone
    Fund managersNikhil Satam, Aakash Chauhan, Shashi KumarDeepak Gupta, Pradeep Sukte
    Exit loadNilExit load of 0.50% if redeemed within 15 days

    Groww NIFTY 200 ETF vs Invesco India Arbitrage: Returns Comparison

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Fund1M3M6M1Y3Y5Y10Y
    Groww NIFTY 200 ETF+0.13%−6.00%−3.35%−8.21%------
    Invesco India Arbitrage Fund (Direct)+0.63%+1.62%+3.40%+6.88%+7.46%+7.14%+6.46%
    Arbitrage average+0.56%+1.52%+3.20%+6.62%+7.18%+6.68%+6.31%

    Category average: the average of the 39 Arbitrage funds, same plan type.

    Groww NIFTY 200 ETF vs Invesco India Arbitrage: Year-wise Returns

    YearGroww NIFTY 200 ETFGroww NIFTY 200 ETFInvesco India ArbitrageInvesco India Arbitrage
    2026to date−8.79%+5.60%
    2025--+7.17%
    2024--+8.32%
    2023--+8.07%
    2022--+5.85%
    2021--+4.15%

    Groww NIFTY 200 ETF vs Invesco India Arbitrage: 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.

    −10%−5%0%5%10%15%20%
    Mar 2025
    to
    Mar 2026
    Apr 2025
    to
    Apr 2026
    Jun 2025
    to
    Jun 2026
    Jul 2025
    to
    Jul 2026
    Sept 2025
    to
    Sept 2026
    Oct 2025
    to
    Oct 2026
    Groww NIFTY 200 ETFInvesco India Arbitrage Fund (Direct)Nifty 200 TRI

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighestBeat benchmark
    Groww NIFTY 200 ETF46.337.811.63.70.60.00.00.8%0.3%−9.9%15.6%0%
    Invesco India Arbitrage0.00.0100.00.00.00.00.06.8%6.8%6.3%7.1%88%
    Nifty 200 TRI42.140.213.43.01.20.00.01.2%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.

    Groww NIFTY 200 ETF vs Invesco India 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

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 27-02-2025 to 30-10-2026: 21 instalments, ₹2,10,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Groww NIFTY 200 ETFGroww NIFTY 200 ETF ₹2,10,000 ₹2,04,546 −₹5,454 −2.9%
    Invesco India ArbitrageInvesco India Arbitrage Fund (Direct) ₹2,10,000 ₹2,23,070 ₹13,070 6.8%
    ₹0₹50,000₹1.0 L₹1.5 L₹2.0 L₹2.5 L
    2026
    Groww NIFTY 200 ETFGroww NIFTY 200 ETFInvesco India ArbitrageInvesco India 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.

    Groww NIFTY 200 ETF vs Invesco India Arbitrage: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureGroww NIFTY 200 ETFInvesco India Arbitrage Fund (Direct)
    Return (CAGR)−8.21%+6.88%
    Standard deviation14.33%1.35%
    Sharpe ratio-0.941.21
    Sortino ratio-1.241.82
    Maximum drawdown−14.8% (31-03-2026)−0.4% (06-08-2026)
    Beta1.00--
    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.

    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.

    −15%−10%−5%0%
    2026
    Groww NIFTY 200 ETFInvesco India Arbitrage Fund (Direct)Nifty 200 TRI
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Groww NIFTY 200 ETF−14.8%02-01-202631-03-2026Not yet--−9.7%
    Invesco India Arbitrage Fund (Direct)−0.4%03-08-202606-08-202621-08-202615 days−0.0%
    Nifty 200 TRI−14.8%02-01-202630-03-2026Not 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.

    0%5%10%15%
    Groww NIFTY 200 ETFInvesco India Arbitrage Fund (Direct)Nifty 200 TRI

    Against Nifty 200 TRI

    FundUp captureDown captureTracking error
    Groww NIFTY 200 ETF99%101%0.06%
    Invesco India Arbitrage Fund (Direct)19%-15%15.73%

    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.

    Groww NIFTY 200 ETF vs Invesco India Arbitrage: Portfolio Overlap

    From each fund's latest monthly portfolio: Groww NIFTY 200 ETF, September 2026; Invesco India Arbitrage Fund, September 2026

    Holdings in common

    Overlap
    51.1%
    Held by both
    160
    Only in Groww NIFTY 200 ETF
    40
    Only in Invesco India Arbitrage
    34
    Security% of Groww NIFTY 200 ETF% of Invesco India Arbitrage
    HDFC Bank Limited6.72%5.58%
    ICICI Bank Limited5.86%4.55%
    Reliance Industries Limited4.91%3.48%
    Axis Bank Limited2.18%2.20%
    Bharti Airtel Limited3.31%2.16%
    State Bank of India2.45%1.99%
    Infosys Limited2.17%1.01%
    Tata Steel Limited0.95%1.57%
    Hindustan Unilever Limited1.03%0.78%
    Divi's Laboratories Limited0.73%1.08%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 51.1% means 51.1% 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 Groww NIFTY 200 ETF

    Security% of fund
    Tata Motors Limited0.55%
    Dr. Reddy's Laboratories Limited0.46%
    Vedanta Aluminium Metal Limited0.43%
    Britannia Industries Limited0.35%
    Dixon Technologies (India) Limited0.33%

    Largest holdings only in Invesco India Arbitrage Fund

    Security% of fund
    Invesco India Money Market Fund - Direct Plan - Growth5.52%
    Invesco India Liquid Fund - Direct Plan - Growth5.22%
    HDFC Bank Limited 20271.28%
    Bank of Baroda 20270.96%
    Small Industries Dev Bank of India 20270.96%

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetGroww NIFTY 200 ETFInvesco India Arbitrage
    Equity99.9%79.6%
    Debt0.0%5.8%
    Cash and others0.1%14.6%

    Market cap of stocks

    Market capGroww NIFTY 200 ETFInvesco India Arbitrage
    Large Cap79.6%53.9%
    Mid Cap19.9%20.6%
    Small Cap0.3%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

    SectorGroww NIFTY 200 ETFInvesco India Arbitrage
    Banks22.2%23.3%
    IT - Software6.4%3.6%
    Finance5.9%6.1%
    Petroleum Products5.8%4.4%
    Automobiles5.5%1.9%
    Telecom - Services3.9%5.1%
    Pharmaceuticals & Biotechnology5.1%3.2%

    The six largest sectors of each fund's stocks, % of the fund.

    Groww NIFTY 200 ETF vs Invesco India Arbitrage: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeGroww NIFTY 200 ETFInvesco India Arbitrage Fund
    Total expense ratio (Direct)Not available2.20%
    Base expense ratio (Direct)0.35%0.34%
    Total expense ratio (Regular)Not available2.87%
    Base expense ratio (Regular)0.00%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

    Groww NIFTY 200 ETF vs Invesco India Arbitrage Fund: Frequently Asked Questions

    What is the difference between Groww NIFTY 200 ETF and Invesco India Arbitrage Fund?

    Groww NIFTY 200 ETF is an ETF fund, Invesco India Arbitrage Fund is an Arbitrage fund, run by Groww Mutual Fund and Invesco Mutual Fund. Their portfolios overlap 51.1%. Groww NIFTY 200 ETF charges 0.43% a year and Invesco India Arbitrage Fund 2.20%.

    Which has given higher returns, Groww NIFTY 200 ETF or Invesco India Arbitrage Fund?

    Over 1 year: Groww NIFTY 200 ETF −8.21%, Invesco India Arbitrage Fund +6.88%. As on 30-10-2026. Past returns do not promise future returns.

    Which has the lower expense ratio, Groww NIFTY 200 ETF or Invesco India Arbitrage Fund?

    Groww NIFTY 200 ETF charges less: 0.43% a year against 2.20%. These are the total expense ratios reported to AMFI.

    How much do Groww NIFTY 200 ETF and Invesco India Arbitrage Fund overlap?

    51.1%. They hold 160 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.

    Which is riskier, Groww NIFTY 200 ETF or Invesco India Arbitrage Fund?

    On SEBI's riskometer, Groww NIFTY 200 ETF is rated Very High and Invesco India Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 14.33% and 1.35% a year.

    Can I invest in both Groww NIFTY 200 ETF and Invesco India Arbitrage Fund?

    Yes. 51.1% of each fund's money sits in the same holdings, so a large part of the two investments would move together.

    Who manages Groww NIFTY 200 ETF and Invesco India Arbitrage Fund?

    Groww NIFTY 200 ETF: Nikhil Satam, Aakash Chauhan, Shashi Kumar. Invesco India Arbitrage Fund: Deepak Gupta, Pradeep Sukte.

    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.

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