Groww NIFTY 200 ETF vs JioBlackRock 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 JioBlackRock Arbitrage Fund is an Arbitrage fund. Groww NIFTY 200 ETF charges 0.43% a year and JioBlackRock Arbitrage Fund 1.99%. Their portfolios overlap 41.9%: they hold 107 of the same securities.
Which is better, Groww NIFTY 200 ETF or JioBlackRock Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Groww NIFTY 200 ETF costs less: 0.43% a year against 1.99%.
- JioBlackRock Arbitrage fell less in its worst fall since 19-12-2025: −0.4% against −14.8%.
- Groww NIFTY 200 ETF holds more in large companies: 79.6% of the fund in large caps against 56.6%.
- JioBlackRock Arbitrage is the larger fund: ₹558 Cr against ₹16 Cr.
- Their portfolios overlap 41.9%: 107 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 | Groww NIFTY 200 ETF | JioBlackRock Arbitrage Fund |
|---|---|---|
| Fund house | Groww Mutual Fund | Jio BlackRock Mutual Fund |
| Category | ETF | Arbitrage |
| AUM | ₹16 Cr (30-09-2026) | ₹558 Cr (30-09-2026) |
| NAV | ₹10.72 | ₹10.61 (Direct) |
| Expense ratio (Direct) | Not available | 1.99% |
| Expense ratio (Regular) | Not available | 3.26% |
| Riskometer | Very High | Low |
| Benchmark | Nifty 200 TRI | Nifty 50 Arbitrage TRI |
| Launch date | 25-02-2025 | 21-08-2026 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | None | None |
| Fund managers | Nikhil Satam, Aakash Chauhan, Shashi Kumar | Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R |
| Exit load | Nil | Nil |
Groww NIFTY 200 ETF vs JioBlackRock 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 |
|---|---|---|---|---|---|---|---|
| Groww NIFTY 200 ETF | +0.13% | −6.00% | −3.35% | −8.21% | -- | -- | -- |
| JioBlackRock Arbitrage Fund (Direct) | +0.67% | +1.65% | +3.38% | -- | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | -- | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Groww NIFTY 200 ETF vs JioBlackRock Arbitrage: Year-wise Returns
| Year | Groww NIFTY 200 ETFGroww NIFTY 200 ETF | JioBlackRock ArbitrageJioBlackRock Arbitrage |
|---|---|---|
| 2026to date | −8.79% | +5.76% |
Groww NIFTY 200 ETF vs JioBlackRock Arbitrage: Rolling Returns
Every holding period of both funds, against Nifty 200 TRI, the benchmark of Groww NIFTY 200 ETF
Groww NIFTY 200 ETF vs JioBlackRock Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Groww NIFTY 200 ETF | JioBlackRock Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.51% | +7.01% |
| Standard deviation | 13.84% | 1.50% |
| Sharpe ratio | -0.07 | 1.19 |
| Sortino ratio | -0.09 | 1.84 |
| Maximum drawdown | −14.8% (31-03-2026) | −0.4% (06-08-2026) |
| Beta | 1.00 | -- |
| Alpha | −0.43% | -- |
From daily NAVs, 27-02-2025 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.
Groww NIFTY 200 ETF
JioBlackRock Arbitrage Fund (Direct)
Nifty 200 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Groww NIFTY 200 ETF | −14.8% | 02-01-2026 | 31-03-2026 | Not yet | -- | −9.7% |
| JioBlackRock Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | 0.0% |
| Nifty 200 TRI | −14.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −9.4% |
From daily values since 19-12-2025, the first day every fund has.
Groww NIFTY 200 ETF vs JioBlackRock Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Groww NIFTY 200 ETF, September 2026; JioBlackRock Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 41.9%
- Held by both
- 107
- Only in Groww NIFTY 200 ETF
- 93
- Only in JioBlackRock Arbitrage
- 14
| Security | % of Groww NIFTY 200 ETF | % of JioBlackRock Arbitrage |
|---|---|---|
| HDFC Bank Limited | 6.72% | 6.97% |
| ICICI Bank Limited | 5.86% | 7.14% |
| Reliance Industries Limited | 4.91% | 6.48% |
| State Bank of India | 2.45% | 2.14% |
| ITC Limited | 1.57% | 1.62% |
| Axis Bank Limited | 2.18% | 1.22% |
| Tata Steel Limited | 0.95% | 1.74% |
| Infosys Limited | 2.17% | 0.87% |
| HCL Technologies Limited | 0.80% | 0.66% |
| Adani Enterprises Limited | 0.61% | 1.57% |
| Bharti Airtel Limited | 3.31% | 0.54% |
| Adani Power Limited | 0.53% | 1.00% |
| Multi Commodity Exchange of India Ltd. | 0.52% | 0.60% |
| Coal India Limited | 0.63% | 0.51% |
| The Federal Bank Limited | 0.48% | 1.09% |
| Torrent Pharmaceuticals Limited | 0.43% | 0.72% |
| Hindalco Industries Limited | 0.84% | 0.41% |
| Bajaj Finance Limited | 1.62% | 0.40% |
| Divi's Laboratories Limited | 0.73% | 0.40% |
| Cummins India Limited | 0.40% | 0.72% |
| IndusInd Bank Limited | 0.37% | 0.70% |
| Bharat Electronics Limited | 0.86% | 0.37% |
| Varun Beverages Limited | 0.37% | 0.93% |
| BSE Ltd | 0.78% | 0.34% |
| Mahindra & Mahindra Limited | 1.63% | 0.34% |
| IDFC First Bank Limited | 0.33% | 0.62% |
| Life Insurance Corporation Of India | 0.31% | 3.72% |
| Sun Pharmaceutical Industries Limited | 1.19% | 0.31% |
| Power Finance Corporation Limited | 0.29% | 0.64% |
| Tata Consultancy Services Limited | 1.29% | 0.29% |
| Kotak Mahindra Bank Limited | 1.90% | 0.27% |
| Maruti Suzuki India Limited | 0.96% | 0.27% |
| Bank of Baroda | 0.26% | 1.22% |
| Lupin Limited | 0.31% | 0.26% |
| Ashok Leyland Limited | 0.27% | 0.25% |
| Canara Bank | 0.25% | 4.85% |
| APL Apollo Tubes Limited | 0.25% | 0.33% |
| SWIGGY LIMITED | 0.23% | 1.19% |
| Yes Bank Ltd | 0.23% | 2.42% |
| SRF Limited | 0.22% | 0.40% |
| Vodafone Idea Limited | 0.22% | 5.24% |
| Hindustan Aeronautics Limited | 0.55% | 0.21% |
| Oil & Natural Gas Corporation Limited | 0.54% | 0.21% |
| National Aluminium Company Limited | 0.19% | 0.29% |
| Titan Company Limited | 1.17% | 0.19% |
| The Indian Hotels Company Limited | 0.40% | 0.18% |
| KEI Industries Limited | 0.17% | 0.77% |
| Radico Khaitan Limited | 0.21% | 0.16% |
| NMDC Limited | 0.16% | 0.93% |
| Aditya Birla Capital Limited | 0.20% | 0.15% |
| NTPC Limited | 0.95% | 0.15% |
| JSW Energy Limited | 0.19% | 0.14% |
| Power Grid Corporation of India Limited | 0.73% | 0.14% |
| Jio Financial Services Limited | 0.44% | 0.14% |
| Godrej Properties Limited | 0.14% | 0.70% |
| Marico Limited | 0.26% | 0.14% |
| Biocon Limited | 0.16% | 0.13% |
| KALYAN JEWELLERS INDIA LIMITED | 0.13% | 0.31% |
| Tech Mahindra Limited | 0.60% | 0.13% |
| Indian Oil Corporation Limited | 0.31% | 0.13% |
| Hindustan Unilever Limited | 1.03% | 0.12% |
| Bharat Heavy Electricals Limited | 0.37% | 0.12% |
| Punjab National Bank | 0.24% | 0.11% |
| The Tata Power Company Limited | 0.37% | 0.11% |
| SBI Cards and Payment Services Limited | 0.11% | 0.12% |
| Astral Limited | 0.10% | 0.43% |
| Aurobindo Pharma Limited | 0.29% | 0.10% |
| LIC Housing Finance Limited | 0.10% | 0.11% |
| Container Corporation of India Limited | 0.10% | 0.34% |
| Indus Towers Limited | 0.30% | 0.09% |
| AU Small Finance Bank Limited | 0.36% | 0.09% |
| Bajaj Holdings & Investment.Ltd | 0.29% | 0.09% |
| Asian Paints Limited | 0.67% | 0.09% |
| Union Bank of India | 0.20% | 0.08% |
| Hindustan Petroleum Corporation Limited | 0.21% | 0.08% |
| Bajaj Auto Limited | 0.73% | 0.07% |
| Hero MotoCorp Limited | 0.42% | 0.07% |
| Steel Authority of India Limited | 0.16% | 0.06% |
| Info Edge (India) Limited | 0.29% | 0.06% |
| Tata Motors Passenger Vehicles Limited | 0.37% | 0.06% |
| GE Vernova T&D India Limited | 0.32% | 0.06% |
| Bajaj Finserv Limited | 0.62% | 0.06% |
| Cholamandalam Invest & Finance Co Ltd | 0.43% | 0.05% |
| GAIL (India) Limited | 0.28% | 0.05% |
| InterGlobe Aviation Limited | 0.70% | 0.05% |
| Fortis Healthcare Limited | 0.25% | 0.05% |
| L&T Finance Limited | 0.14% | 0.05% |
| UPL Limited | 0.19% | 0.05% |
| HDFC Life Insurance Company Limited | 0.35% | 0.05% |
| HDFC Asset Management Company Limited | 0.29% | 0.05% |
| Coforge Limited | 0.38% | 0.04% |
| MphasiS Limited | 0.18% | 0.04% |
| Samvardhana Motherson International Ltd | 0.45% | 0.04% |
| Larsen & Toubro Limited | 2.72% | 0.04% |
| Oil India Limited | 0.15% | 0.03% |
| Tata Consumer Products Limited | 0.38% | 0.03% |
| Hitachi Energy India Limited | 0.23% | 0.03% |
| Suzlon Energy Limited | 0.30% | 0.03% |
| The Phoenix Mills Limited | 0.22% | 0.02% |
| DLF Limited | 0.27% | 0.02% |
| ICICI Lombard General Insurance Company | 0.24% | 0.02% |
| JSW Steel Limited | 0.75% | 0.02% |
| Eternal Limited | 1.43% | 0.01% |
| UltraTech Cement Limited | 0.80% | 0.01% |
| Colgate Palmolive (India) Limited | 0.14% | 0.01% |
| TUBE INVESTMENTS OF INDIA LTD | 0.16% | 0.01% |
| Voltas Limited | 0.15% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.9% means 41.9% 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 |
|---|---|
| Adani Port & Special Economic Zone Ltd | 0.87% |
| Shriram Finance Limited | 0.85% |
| Grasim Industries Limited | 0.71% |
| Eicher Motors Limited | 0.61% |
| TVS Motor Company Limited | 0.60% |
Largest holdings only in JioBlackRock Arbitrage Fund
| Security | % of fund |
|---|---|
| JioBlackRock Money Market Fund - Direct Plan - Growth Option | 11.16% |
| HDFC Bank Ltd (18-Jan-2027) | 4.39% |
| Canara Bank (28-Jan-2027) | 4.38% |
| JioBlackRock Liquid Fund - Direct Plan - Growth Option | 2.83% |
| Crompton Greaves Consumer Electricals Ltd | 1.67% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww NIFTY 200 ETF | JioBlackRock Arbitrage |
|---|---|---|
| Equity | 99.9% | 74.1% |
| Debt | 0.0% | 8.8% |
| Cash and others | 0.1% | 17.1% |
Market cap of stocks
| Market cap | Groww NIFTY 200 ETF | JioBlackRock Arbitrage |
|---|---|---|
| Large Cap | 79.6% | 56.6% |
| Mid Cap | 19.9% | 13.5% |
| Small Cap | 0.3% | 3.9% |
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 | Groww NIFTY 200 ETF | JioBlackRock Arbitrage |
|---|---|---|
| Banks | 22.2% | 29.0% |
| Petroleum Products | 5.8% | 6.7% |
| IT - Software | 6.4% | 2.0% |
| Finance | 5.9% | 2.5% |
| Telecom - Services | 3.9% | 5.9% |
| Automobiles | 5.5% | 0.8% |
| Pharmaceuticals & Biotechnology | 5.1% | 1.9% |
| Insurance | 1.6% | 3.8% |
| Consumer Durables | 2.9% | 3.1% |
The six largest sectors of each fund's stocks, % of the fund.
Groww NIFTY 200 ETF vs JioBlackRock Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww NIFTY 200 ETF | JioBlackRock Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.99% |
| Base expense ratio (Direct) | 0.35% | 0.28% |
| Total expense ratio (Regular) | Not available | 3.26% |
| Base expense ratio (Regular) | 0.00% | 0.90% |
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 JioBlackRock Arbitrage Fund: Frequently Asked Questions
What is the difference between Groww NIFTY 200 ETF and JioBlackRock Arbitrage Fund?
Groww NIFTY 200 ETF is an ETF fund, JioBlackRock Arbitrage Fund is an Arbitrage fund, run by Groww Mutual Fund and Jio BlackRock Mutual Fund. Their portfolios overlap 41.9%. Groww NIFTY 200 ETF charges 0.43% a year and JioBlackRock Arbitrage Fund 1.99%.
Which has the lower expense ratio, Groww NIFTY 200 ETF or JioBlackRock Arbitrage Fund?
Groww NIFTY 200 ETF charges less: 0.43% a year against 1.99%. These are the total expense ratios reported to AMFI.
How much do Groww NIFTY 200 ETF and JioBlackRock Arbitrage Fund overlap?
41.9%. They hold 107 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 JioBlackRock Arbitrage Fund?
On SEBI's riskometer, Groww NIFTY 200 ETF is rated Very High and JioBlackRock Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 13.84% and 1.50% a year.
Can I invest in both Groww NIFTY 200 ETF and JioBlackRock Arbitrage Fund?
Yes. 41.9% 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 JioBlackRock Arbitrage Fund?
Groww NIFTY 200 ETF: Nikhil Satam, Aakash Chauhan, Shashi Kumar. JioBlackRock Arbitrage Fund: Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R.
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.