Groww NIFTY 200 ETF vs Parag Parikh 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 Parag Parikh Arbitrage Fund is an Arbitrage fund. In the year to 30-10-2026, Groww NIFTY 200 ETF returned −8.2% and Parag Parikh Arbitrage Fund (Direct) returned 6.5%. Groww NIFTY 200 ETF charges 0.43% a year and Parag Parikh Arbitrage Fund 0.99%. Their portfolios overlap 41.1%: they hold 67 of the same securities.
Parag Parikh Arbitrage Fund
Arbitrage
- 1 year return
- 6.5%
- Expense ratio
- 0.99%
- NAV
- ₹12.24
Which is better, Groww NIFTY 200 ETF or Parag Parikh Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Parag Parikh Arbitrage returned more over 1 year: 6.5% against −8.2%.
- Groww NIFTY 200 ETF costs less: 0.43% a year against 0.99%.
- Parag Parikh Arbitrage fell less in its worst fall since 27-02-2025: −0.6% against −14.8%.
- Groww NIFTY 200 ETF holds more in large companies: 79.6% of the fund in large caps against 57.5%.
- Parag Parikh Arbitrage is the larger fund: ₹2,750 Cr against ₹16 Cr.
- Their portfolios overlap 41.1%: 67 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 | Parag Parikh Arbitrage Fund |
|---|---|---|
| Fund house | Groww Mutual Fund | PPFAS Mutual Fund |
| Category | ETF | Arbitrage |
| AUM | ₹16 Cr (30-09-2026) | ₹2,750 Cr (30-09-2026) |
| NAV | ₹10.72 | ₹12.24 (Direct) |
| Expense ratio (Direct) | Not available | 0.99% |
| Expense ratio (Regular) | Not available | 1.39% |
| Riskometer | Very High | Low |
| Benchmark | Nifty 200 TRI | Nifty 50 Arbitrage TRI |
| Launch date | 25-02-2025 | 02-11-2023 |
| Minimum investment | ₹500 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Nikhil Satam, Aakash Chauhan, Shashi Kumar | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar |
| Exit load | Nil | In respect of each purchase / switch-in of units, an Exit Load of 0.25% is payable if Units are redeemed/ switched-out within 30 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 30 days from the date of allotment. Any exit load charged (net off GST, if any) shall be credited back to the Scheme. |
Groww NIFTY 200 ETF vs Parag Parikh 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% | -- | -- | -- |
| Parag Parikh Arbitrage Fund (Direct) | +0.57% | +1.50% | +3.18% | +6.52% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Groww NIFTY 200 ETF vs Parag Parikh Arbitrage: Year-wise Returns
| Year | Groww NIFTY 200 ETFGroww NIFTY 200 ETF | Parag Parikh ArbitrageParag Parikh Arbitrage |
|---|---|---|
| 2026to date | −8.79% | +5.31% |
| 2025 | -- | +6.62% |
| 2024 | -- | +7.77% |
Groww NIFTY 200 ETF vs Parag Parikh 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
Parag Parikh 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% |
| Parag Parikh Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.4% | 6.4% | 6.0% | 6.9% | 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 Parag Parikh 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% |
| Parag Parikh ArbitrageParag Parikh Arbitrage Fund (Direct) | ₹2,10,000 | ₹2,22,242 | ₹12,242 | 6.4% |
Groww NIFTY 200 ETFGroww NIFTY 200 ETF
Parag Parikh ArbitrageParag Parikh 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 Parag Parikh 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 | Parag Parikh Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.21% | +6.52% |
| Standard deviation | 14.33% | 1.43% |
| Sharpe ratio | -0.94 | 0.89 |
| Sortino ratio | -1.24 | 1.37 |
| Maximum drawdown | −14.8% (31-03-2026) | −0.6% (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 | Parag Parikh Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +4.51% | +6.94% |
| Standard deviation | 13.84% | 1.11% |
| Sharpe ratio | -0.07 | 0.83 |
| Sortino ratio | -0.09 | 1.25 |
| Maximum drawdown | −14.8% (31-03-2026) | −0.6% (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
Parag Parikh 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% |
| Parag Parikh Arbitrage Fund (Direct) | −0.6% | 03-08-2026 | 06-08-2026 | 01-09-2026 | 26 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
Parag Parikh 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% |
| Parag Parikh Arbitrage Fund (Direct) | 17% | -15% | 15.75% |
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 Parag Parikh Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Groww NIFTY 200 ETF, September 2026; Parag Parikh Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 41.1%
- Held by both
- 67
- Only in Groww NIFTY 200 ETF
- 133
- Only in Parag Parikh Arbitrage
- 17
| Security | % of Groww NIFTY 200 ETF | % of Parag Parikh Arbitrage |
|---|---|---|
| HDFC Bank Limited | 6.72% | 6.38% |
| ICICI Bank Limited | 5.86% | 6.17% |
| Reliance Industries Limited | 4.91% | 4.80% |
| Bharti Airtel Limited | 3.31% | 4.40% |
| State Bank of India | 2.45% | 2.38% |
| Axis Bank Limited | 2.18% | 4.51% |
| Kotak Mahindra Bank Limited | 1.90% | 3.75% |
| Sun Pharmaceutical Industries Limited | 1.19% | 0.99% |
| Tata Steel Limited | 0.95% | 2.06% |
| Bharat Electronics Limited | 0.86% | 1.72% |
| UltraTech Cement Limited | 0.80% | 1.69% |
| Bajaj Finance Limited | 1.62% | 0.66% |
| Eicher Motors Limited | 0.61% | 1.16% |
| Hindustan Aeronautics Limited | 0.55% | 0.95% |
| Mahindra & Mahindra Limited | 1.63% | 0.54% |
| NTPC Limited | 0.95% | 0.44% |
| Coal India Limited | 0.63% | 0.42% |
| Jio Financial Services Limited | 0.44% | 0.40% |
| The Indian Hotels Company Limited | 0.40% | 0.58% |
| Bharat Heavy Electricals Limited | 0.37% | 2.97% |
| Varun Beverages Limited | 0.37% | 0.38% |
| IDFC First Bank Limited | 0.33% | 2.24% |
| ITC Limited | 1.57% | 0.33% |
| Life Insurance Corporation Of India | 0.31% | 0.93% |
| Indus Towers Limited | 0.30% | 0.39% |
| DLF Limited | 0.27% | 0.29% |
| Bank of Baroda | 0.26% | 0.78% |
| JSW Steel Limited | 0.75% | 0.26% |
| Canara Bank | 0.25% | 5.28% |
| Punjab National Bank | 0.24% | 1.04% |
| Hindalco Industries Limited | 0.84% | 0.22% |
| The Tata Power Company Limited | 0.37% | 0.22% |
| Glenmark Pharmaceuticals Limited | 0.22% | 0.47% |
| Cipla Limited | 0.47% | 0.21% |
| GMR Airports Limited | 0.20% | 0.47% |
| Aditya Birla Capital Limited | 0.20% | 0.32% |
| NMDC Limited | 0.16% | 1.54% |
| Steel Authority of India Limited | 0.16% | 0.41% |
| Biocon Limited | 0.16% | 0.44% |
| Divi's Laboratories Limited | 0.73% | 0.15% |
| Aurobindo Pharma Limited | 0.29% | 0.14% |
| Dabur India Limited | 0.14% | 0.17% |
| Coforge Limited | 0.38% | 0.10% |
| LIC Housing Finance Limited | 0.10% | 0.35% |
| Infosys Limited | 2.17% | 0.09% |
| Multi Commodity Exchange of India Ltd. | 0.52% | 0.09% |
| The Federal Bank Limited | 0.48% | 0.08% |
| ICICI Lombard General Insurance Company | 0.24% | 0.08% |
| Oil & Natural Gas Corporation Limited | 0.54% | 0.07% |
| Godrej Properties Limited | 0.14% | 0.07% |
| Bajaj Finserv Limited | 0.62% | 0.06% |
| Tata Motors Passenger Vehicles Limited | 0.37% | 0.06% |
| Hindustan Unilever Limited | 1.03% | 0.05% |
| Tata Consumer Products Limited | 0.38% | 0.05% |
| Indian Oil Corporation Limited | 0.31% | 0.05% |
| Power Finance Corporation Limited | 0.29% | 0.05% |
| Yes Bank Ltd | 0.23% | 0.05% |
| Oberoi Realty Limited | 0.13% | 0.05% |
| Solar Industries India Limited | 0.29% | 0.03% |
| Marico Limited | 0.26% | 0.03% |
| Eternal Limited | 1.43% | 0.02% |
| Asian Paints Limited | 0.67% | 0.02% |
| AU Small Finance Bank Limited | 0.36% | 0.02% |
| Power Grid Corporation of India Limited | 0.73% | 0.01% |
| SBI Life Insurance Company Limited | 0.47% | 0.01% |
| Torrent Pharmaceuticals Limited | 0.43% | 0.01% |
| Fortis Healthcare Limited | 0.25% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 41.1% means 41.1% 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 |
|---|---|
| Larsen & Toubro Limited | 2.72% |
| Tata Consultancy Services Limited | 1.29% |
| Titan Company Limited | 1.17% |
| Maruti Suzuki India Limited | 0.96% |
| Adani Port & Special Economic Zone Ltd | 0.87% |
Largest holdings only in Parag Parikh Arbitrage Fund
| Security | % of fund |
|---|---|
| Parag Parikh Liquid Fund- Direct Plan- Growth | 10.70% |
| Small Industries Dev Bank of India (11/06/2027) | 3.46% |
| Canara Bank (08/12/2026) | 1.80% |
| HDFC Bank Limited (21/12/2026) | 1.79% |
| Canara Bank (08/01/2027) | 1.79% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww NIFTY 200 ETF | Parag Parikh Arbitrage |
|---|---|---|
| Equity | 99.9% | 67.5% |
| Debt | 0.0% | 18.0% |
| Cash and others | 0.1% | 14.5% |
Market cap of stocks
| Market cap | Groww NIFTY 200 ETF | Parag Parikh Arbitrage |
|---|---|---|
| Large Cap | 79.6% | 57.5% |
| Mid Cap | 19.9% | 7.4% |
| Small Cap | 0.3% | 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 | Groww NIFTY 200 ETF | Parag Parikh Arbitrage |
|---|---|---|
| Banks | 22.2% | 34.1% |
| IT - Software | 6.4% | 0.2% |
| Finance | 5.9% | 1.9% |
| Petroleum Products | 5.8% | 4.8% |
| Automobiles | 5.5% | 1.8% |
| Pharmaceuticals & Biotechnology | 5.1% | 2.4% |
| Telecom - Services | 3.9% | 4.8% |
| Electrical Equipment | 2.6% | 3.1% |
| Ferrous Metals | 2.1% | 2.7% |
| Aerospace & Defense | 1.5% | 2.7% |
The six largest sectors of each fund's stocks, % of the fund.
Groww NIFTY 200 ETF vs Parag Parikh Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww NIFTY 200 ETF | Parag Parikh Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | Not available | 0.99% |
| Base expense ratio (Direct) | 0.35% | 0.19% |
| Total expense ratio (Regular) | Not available | 1.39% |
| Base expense ratio (Regular) | 0.00% | 0.53% |
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 Parag Parikh Arbitrage Fund: Frequently Asked Questions
What is the difference between Groww NIFTY 200 ETF and Parag Parikh Arbitrage Fund?
Groww NIFTY 200 ETF is an ETF fund, Parag Parikh Arbitrage Fund is an Arbitrage fund, run by Groww Mutual Fund and PPFAS Mutual Fund. Their portfolios overlap 41.1%. Groww NIFTY 200 ETF charges 0.43% a year and Parag Parikh Arbitrage Fund 0.99%.
Which has given higher returns, Groww NIFTY 200 ETF or Parag Parikh Arbitrage Fund?
Over 1 year: Groww NIFTY 200 ETF −8.21%, Parag Parikh Arbitrage Fund +6.52%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Groww NIFTY 200 ETF or Parag Parikh Arbitrage Fund?
Groww NIFTY 200 ETF charges less: 0.43% a year against 0.99%. These are the total expense ratios reported to AMFI.
How much do Groww NIFTY 200 ETF and Parag Parikh Arbitrage Fund overlap?
41.1%. They hold 67 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 Parag Parikh Arbitrage Fund?
On SEBI's riskometer, Groww NIFTY 200 ETF is rated Very High and Parag Parikh Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 14.33% and 1.43% a year.
Can I invest in both Groww NIFTY 200 ETF and Parag Parikh Arbitrage Fund?
Yes. 41.1% 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 Parag Parikh Arbitrage Fund?
Groww NIFTY 200 ETF: Nikhil Satam, Aakash Chauhan, Shashi Kumar. Parag Parikh Arbitrage Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar.
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.