Groww NIFTY 200 ETF vs Nippon 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 Nippon India Arbitrage Fund is an Arbitrage fund. In the year to 30-10-2026, Groww NIFTY 200 ETF returned −8.2% and Nippon India Arbitrage Fund (Direct) returned 6.7%. Groww NIFTY 200 ETF charges 0.43% a year and Nippon India Arbitrage Fund 1.35%. Their portfolios overlap 50.4%: they hold 139 of the same securities.
Nippon India Arbitrage Fund
Arbitrage
- 1 year return
- 6.7%
- Expense ratio
- 1.35%
- NAV
- ₹31.21
Which is better, Groww NIFTY 200 ETF or Nippon 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.
- Nippon India Arbitrage returned more over 1 year: 6.7% against −8.2%.
- Groww NIFTY 200 ETF costs less: 0.43% a year against 1.35%.
- Nippon India Arbitrage fell less in its worst fall since 27-02-2025: −0.5% against −14.8%.
- Groww NIFTY 200 ETF holds more in large companies: 79.6% of the fund in large caps against 51.7%.
- Nippon India Arbitrage is the larger fund: ₹17,216 Cr against ₹16 Cr.
- Their portfolios overlap 50.4%: 139 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 | Nippon India Arbitrage Fund |
|---|---|---|
| Fund house | Groww Mutual Fund | Nippon India Mutual Fund |
| Category | ETF | Arbitrage |
| AUM | ₹16 Cr (30-09-2026) | ₹17,216 Cr (30-09-2026) |
| NAV | ₹10.72 | ₹31.21 (Direct) |
| Expense ratio (Direct) | Not available | 1.35% |
| Expense ratio (Regular) | Not available | 2.04% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 200 TRI | Not available |
| Launch date | 25-02-2025 | Not available |
| Minimum investment | ₹500 | Not available |
| Lock in | None | Not available |
| Fund managers | Nikhil Satam, Aakash Chauhan, Shashi Kumar | Not available |
| Exit load | Nil | Not available |
Groww NIFTY 200 ETF vs Nippon 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.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Groww NIFTY 200 ETF | +0.13% | −6.00% | −3.35% | −8.21% | -- | -- | -- |
| Nippon India Arbitrage Fund (Direct) | +0.52% | +1.54% | +3.29% | +6.71% | +7.28% | +6.83% | +6.47% |
| 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 Nippon India Arbitrage: Year-wise Returns
| Year | Groww NIFTY 200 ETFGroww NIFTY 200 ETF | Nippon India ArbitrageNippon India Arbitrage |
|---|---|---|
| 2026to date | −8.79% | +5.47% |
| 2025 | -- | +6.94% |
| 2024 | -- | +8.23% |
| 2023 | -- | +7.85% |
| 2022 | -- | +4.94% |
| 2021 | -- | +4.54% |
Groww NIFTY 200 ETF vs Nippon 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.
Groww NIFTY 200 ETF
Nippon India Arbitrage Fund (Direct)
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% |
| Nippon India Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.6% | 6.6% | 6.2% | 7.0% | 88% |
| 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.
Groww NIFTY 200 ETF vs Nippon 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
₹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.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Groww NIFTY 200 ETFGroww NIFTY 200 ETF | ₹2,10,000 | ₹2,04,546 | −₹5,454 | −2.9% |
| Nippon India ArbitrageNippon India Arbitrage Fund (Direct) | ₹2,10,000 | ₹2,22,705 | ₹12,705 | 6.6% |
Groww NIFTY 200 ETFGroww NIFTY 200 ETF
Nippon India ArbitrageNippon 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 Nippon India 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 | Nippon India Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.21% | +6.71% |
| Standard deviation | 14.33% | 1.33% |
| Sharpe ratio | -0.94 | 1.10 |
| Sortino ratio | -1.24 | 1.71 |
| Maximum drawdown | −14.8% (31-03-2026) | −0.5% (06-08-2026) |
| 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 | Groww NIFTY 200 ETF | Nippon India Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.51% | +7.06% |
| Standard deviation | 13.84% | 1.07% |
| Sharpe ratio | -0.07 | 0.95 |
| Sortino ratio | -0.09 | 1.44 |
| Maximum drawdown | −14.8% (31-03-2026) | −0.6% (25-03-2020) |
| 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
Nippon India 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% |
| Nippon India Arbitrage Fund (Direct) | −0.5% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.0% |
| 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.
Groww NIFTY 200 ETF
Nippon India Arbitrage Fund (Direct)
Nifty 200 TRI
Against Nifty 200 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Groww NIFTY 200 ETF | 99% | 101% | 0.06% |
| Nippon India Arbitrage Fund (Direct) | 18% | -15% | 15.77% |
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 Nippon India Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Groww NIFTY 200 ETF, September 2026; Nippon India Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 50.4%
- Held by both
- 139
- Only in Groww NIFTY 200 ETF
- 61
- Only in Nippon India Arbitrage
- 30
| Security | % of Groww NIFTY 200 ETF | % of Nippon India Arbitrage |
|---|---|---|
| Reliance Industries Limited | 4.91% | 4.83% |
| HDFC Bank Limited | 6.72% | 4.62% |
| ICICI Bank Limited | 5.86% | 4.21% |
| Axis Bank Limited | 2.18% | 2.45% |
| State Bank of India | 2.45% | 2.02% |
| Bajaj Finance Limited | 1.62% | 1.71% |
| Larsen & Toubro Limited | 2.72% | 1.31% |
| Kotak Mahindra Bank Limited | 1.90% | 1.09% |
| Maruti Suzuki India Limited | 0.96% | 1.42% |
| Tata Steel Limited | 0.95% | 1.35% |
| Bharti Airtel Limited | 3.31% | 0.91% |
| Hindalco Industries Limited | 0.84% | 0.76% |
| JSW Steel Limited | 0.75% | 1.81% |
| Infosys Limited | 2.17% | 0.68% |
| Coal India Limited | 0.63% | 0.92% |
| Adani Enterprises Limited | 0.61% | 1.32% |
| TVS Motor Company Limited | 0.60% | 0.72% |
| Mahindra & Mahindra Limited | 1.63% | 0.51% |
| Eicher Motors Limited | 0.61% | 0.48% |
| ITC Limited | 1.57% | 0.46% |
| UltraTech Cement Limited | 0.80% | 0.45% |
| One 97 Communications Limited | 0.45% | 0.49% |
| Jio Financial Services Limited | 0.44% | 1.03% |
| The Federal Bank Limited | 0.48% | 0.44% |
| Sun Pharmaceutical Industries Limited | 1.19% | 0.41% |
| Cummins India Limited | 0.40% | 0.76% |
| The Indian Hotels Company Limited | 0.40% | 0.38% |
| Bharat Heavy Electricals Limited | 0.37% | 0.44% |
| IndusInd Bank Limited | 0.37% | 0.60% |
| AU Small Finance Bank Limited | 0.36% | 0.96% |
| Hindustan Unilever Limited | 1.03% | 0.36% |
| Coforge Limited | 0.38% | 0.36% |
| IDFC First Bank Limited | 0.33% | 0.41% |
| Asian Paints Limited | 0.67% | 0.33% |
| Varun Beverages Limited | 0.37% | 0.33% |
| Divi's Laboratories Limited | 0.73% | 0.32% |
| Tata Consumer Products Limited | 0.38% | 0.32% |
| GE Vernova T&D India Limited | 0.32% | 0.32% |
| Indian Oil Corporation Limited | 0.31% | 0.32% |
| Life Insurance Corporation Of India | 0.31% | 0.47% |
| Grasim Industries Limited | 0.71% | 0.31% |
| Indus Towers Limited | 0.30% | 0.60% |
| Power Finance Corporation Limited | 0.29% | 0.30% |
| Info Edge (India) Limited | 0.29% | 0.56% |
| Adani Power Limited | 0.53% | 0.29% |
| Cipla Limited | 0.47% | 0.29% |
| SBI Life Insurance Company Limited | 0.47% | 0.27% |
| Bank of Baroda | 0.26% | 0.45% |
| Adani Energy Solutions Limited | 0.26% | 1.04% |
| Adani Green Energy Limited | 0.26% | 0.46% |
| HDFC Life Insurance Company Limited | 0.35% | 0.26% |
| Marico Limited | 0.26% | 0.45% |
| Canara Bank | 0.25% | 1.17% |
| Fortis Healthcare Limited | 0.25% | 0.26% |
| APL Apollo Tubes Limited | 0.25% | 0.56% |
| Punjab National Bank | 0.24% | 0.47% |
| HDFC Asset Management Company Limited | 0.29% | 0.24% |
| Bosch Limited | 0.24% | 0.23% |
| Yes Bank Ltd | 0.23% | 0.50% |
| Vodafone Idea Limited | 0.22% | 1.34% |
| NTPC Limited | 0.95% | 0.22% |
| The Tata Power Company Limited | 0.37% | 0.22% |
| Glenmark Pharmaceuticals Limited | 0.22% | 0.95% |
| Hero MotoCorp Limited | 0.42% | 0.20% |
| Tata Motors Passenger Vehicles Limited | 0.37% | 0.20% |
| Solar Industries India Limited | 0.29% | 0.19% |
| Muthoot Finance Limited | 0.18% | 0.37% |
| Cholamandalam Invest & Finance Co Ltd | 0.43% | 0.18% |
| Ashok Leyland Limited | 0.27% | 0.18% |
| HCL Technologies Limited | 0.80% | 0.17% |
| Hindustan Zinc Limited | 0.17% | 0.46% |
| NMDC Limited | 0.16% | 0.52% |
| Steel Authority of India Limited | 0.16% | 1.11% |
| Laurus Labs Limited | 0.48% | 0.16% |
| Biocon Limited | 0.16% | 0.33% |
| Eternal Limited | 1.43% | 0.15% |
| Hitachi Energy India Limited | 0.23% | 0.15% |
| Ambuja Cements Limited | 0.14% | 0.77% |
| Apollo Hospitals Enterprise Limited | 0.51% | 0.14% |
| Torrent Pharmaceuticals Limited | 0.43% | 0.14% |
| Voltas Limited | 0.15% | 0.14% |
| Supreme Industries Limited | 0.14% | 0.30% |
| Godrej Properties Limited | 0.14% | 0.38% |
| KALYAN JEWELLERS INDIA LIMITED | 0.13% | 0.26% |
| Titan Company Limited | 1.17% | 0.13% |
| Bharat Petroleum Corporation Limited | 0.38% | 0.13% |
| Aurobindo Pharma Limited | 0.29% | 0.13% |
| Hindustan Aeronautics Limited | 0.55% | 0.12% |
| Aditya Birla Capital Limited | 0.20% | 0.12% |
| JSW Energy Limited | 0.19% | 0.12% |
| Tata Consultancy Services Limited | 1.29% | 0.11% |
| Bajaj Auto Limited | 0.73% | 0.11% |
| Shriram Finance Limited | 0.85% | 0.10% |
| InterGlobe Aviation Limited | 0.70% | 0.10% |
| Oil & Natural Gas Corporation Limited | 0.54% | 0.10% |
| Trent Limited | 0.54% | 0.10% |
| The Phoenix Mills Limited | 0.22% | 0.10% |
| LIC Housing Finance Limited | 0.10% | 0.19% |
| Bank of India | 0.10% | 0.13% |
| Container Corporation of India Limited | 0.10% | 0.27% |
| ICICI Lombard General Insurance Company | 0.24% | 0.09% |
| Union Bank of India | 0.20% | 0.09% |
| Bajaj Finserv Limited | 0.62% | 0.08% |
| Lupin Limited | 0.31% | 0.08% |
| SWIGGY LIMITED | 0.23% | 0.08% |
| Dabur India Limited | 0.14% | 0.08% |
| SBI Cards and Payment Services Limited | 0.11% | 0.08% |
| Patanjali Foods Limited | 0.08% | 0.38% |
| Bharat Electronics Limited | 0.86% | 0.07% |
| Samvardhana Motherson International Ltd | 0.45% | 0.07% |
| SRF Limited | 0.22% | 0.07% |
| Adani Port & Special Economic Zone Ltd | 0.87% | 0.06% |
| Nestle India Limited | 0.58% | 0.06% |
| Colgate Palmolive (India) Limited | 0.14% | 0.06% |
| Bank of Maharashtra | 0.10% | 0.06% |
| Tech Mahindra Limited | 0.60% | 0.05% |
| Bharat Forge Limited | 0.33% | 0.05% |
| Bajaj Holdings & Investment.Ltd | 0.29% | 0.05% |
| GAIL (India) Limited | 0.28% | 0.05% |
| Vedanta Limited | 0.28% | 0.05% |
| Jindal Steel Limited | 0.26% | 0.05% |
| Prestige Estates Projects Limited | 0.15% | 0.05% |
| Suzlon Energy Limited | 0.30% | 0.04% |
| TUBE INVESTMENTS OF INDIA LTD | 0.16% | 0.04% |
| Avenue Supermarts Limited | 0.38% | 0.03% |
| FSN E-Commerce Ventures Limited | 0.27% | 0.03% |
| PB Fintech Limited | 0.23% | 0.03% |
| Radico Khaitan Limited | 0.21% | 0.03% |
| Hindustan Petroleum Corporation Limited | 0.21% | 0.03% |
| Page Industries Limited | 0.14% | 0.03% |
| CG Power And Industrial Solutions Ltd | 0.36% | 0.02% |
| Polycab India Limited | 0.26% | 0.02% |
| Lodha Developers Limited | 0.21% | 0.02% |
| National Aluminium Company Limited | 0.19% | 0.02% |
| United Spirits Limited | 0.25% | 0.01% |
| GMR Airports Limited | 0.20% | 0.01% |
| UPL Limited | 0.19% | 0.01% |
| MphasiS Limited | 0.18% | 0.01% |
| Oberoi Realty Limited | 0.13% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 50.4% means 50.4% 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 |
|---|---|
| BSE Ltd | 0.78% |
| Power Grid Corporation of India Limited | 0.73% |
| Tata Motors Limited | 0.55% |
| Multi Commodity Exchange of India Ltd. | 0.52% |
| Dr. Reddy's Laboratories Limited | 0.46% |
Largest holdings only in Nippon India Arbitrage Fund
| Security | % of fund |
|---|---|
| Nippon India Money Market Fund Dir Pl-Growth-Gr Op | 15.46% |
| Nippon India Ultra Short Term Fund- Dr Gr Op | 8.14% |
| Small Industries Dev Bank of India | 1.14% |
| Manappuram Finance Limited | 0.86% |
| National Bank For Agriculture and Rural Development | 0.84% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww NIFTY 200 ETF | Nippon India Arbitrage |
|---|---|---|
| Equity | 99.9% | 68.0% |
| Debt | 0.0% | 4.4% |
| Cash and others | 0.1% | 27.6% |
Market cap of stocks
| Market cap | Groww NIFTY 200 ETF | Nippon India Arbitrage |
|---|---|---|
| Large Cap | 79.6% | 51.7% |
| Mid Cap | 19.9% | 13.7% |
| Small Cap | 0.3% | 2.6% |
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 | Nippon India Arbitrage |
|---|---|---|
| Banks | 22.2% | 20.1% |
| IT - Software | 6.4% | 1.4% |
| Finance | 5.9% | 5.2% |
| Petroleum Products | 5.8% | 5.3% |
| Automobiles | 5.5% | 3.7% |
| Pharmaceuticals & Biotechnology | 5.1% | 3.0% |
| Ferrous Metals | 2.1% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
Groww NIFTY 200 ETF vs Nippon India Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww NIFTY 200 ETF | Nippon India Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 1.35% |
| Base expense ratio (Direct) | 0.35% | 0.31% |
| Total expense ratio (Regular) | Not available | 2.04% |
| 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 Nippon India Arbitrage Fund: Frequently Asked Questions
What is the difference between Groww NIFTY 200 ETF and Nippon India Arbitrage Fund?
Groww NIFTY 200 ETF is an ETF fund, Nippon India Arbitrage Fund is an Arbitrage fund, run by Groww Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 50.4%. Groww NIFTY 200 ETF charges 0.43% a year and Nippon India Arbitrage Fund 1.35%.
Which has given higher returns, Groww NIFTY 200 ETF or Nippon India Arbitrage Fund?
Over 1 year: Groww NIFTY 200 ETF −8.21%, Nippon India Arbitrage Fund +6.71%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Groww NIFTY 200 ETF or Nippon India Arbitrage Fund?
Groww NIFTY 200 ETF charges less: 0.43% a year against 1.35%. These are the total expense ratios reported to AMFI.
How much do Groww NIFTY 200 ETF and Nippon India Arbitrage Fund overlap?
50.4%. They hold 139 of the same securities, the largest shared ones being RELIANCE, HDFCBANK, ICICIBANK. From each fund's latest monthly portfolio.
Can I invest in both Groww NIFTY 200 ETF and Nippon India Arbitrage Fund?
Yes. 50.4% 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.