HDFC Arbitrage Fund vs ICICI Prudential BSE 500 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
HDFC Arbitrage Fund is an Arbitrage fund and ICICI Prudential BSE 500 ETF is an ETF fund. In the 3 years to 30-10-2026, HDFC Arbitrage Fund (Direct) returned 7.3% a year and ICICI Prudential BSE 500 ETF returned 9.5% a year. HDFC Arbitrage Fund charges 1.48% a year and ICICI Prudential BSE 500 ETF 0.33%. Their portfolios overlap 49.7%: they hold 150 of the same securities.
ICICI Prudential BSE 500 ETF
ETF
- 3 year return
- 9.5%
- Expense ratio
- 0.33%
- NAV
- ₹37.06
Which is better, HDFC Arbitrage or ICICI Prudential BSE 500 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- ICICI Prudential BSE 500 ETF returned more over 5 years: 8.3% a year against 6.7%.
- ICICI Prudential BSE 500 ETF returned more over 3 years: 9.5% a year against 7.3%.
- ICICI Prudential BSE 500 ETF costs less: 0.33% a year against 1.48%.
- HDFC Arbitrage swung less over 3 years: a standard deviation of 1.1% a year against 14.2%.
- HDFC Arbitrage fell less in its worst fall since 11-05-2018: −0.7% against −38.0%.
- ICICI Prudential BSE 500 ETF holds more in large companies: 67.1% of the fund in large caps against 55.6%.
- HDFC Arbitrage is the larger fund: ₹25,407 Cr against ₹347 Cr.
- Their portfolios overlap 49.7%: 150 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 | HDFC Arbitrage Fund | ICICI Prudential BSE 500 ETF |
|---|---|---|
| Fund house | HDFC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | Arbitrage | ETF |
| AUM | ₹25,407 Cr (30-09-2026) | ₹347 Cr (30-09-2026) |
| NAV | ₹21.93 (Direct) | ₹37.06 |
| Expense ratio (Direct) | 1.48% | Not available |
| Expense ratio (Regular) | 2.02% | Not available |
| Riskometer | Low | Not available |
| Benchmark | Nifty 50 Arbitrage TRI | BSE 500 TRI |
| Launch date | 23-10-2007 | 09-05-2018 |
| Minimum investment | ₹100 | During Ongoing/Continuous Offer: On Stock Exchanges: Investors can buy/sell units of the Scheme in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Investors can buy or sell units of the scheme in creation unit size and its mul |
| Lock in | None | None |
| Fund managers | Nandita Menezes, Arun Agarwal, Anil Bamboli, Gopal Agrawal | Nishit Patel, Ajaykumar Solanki, Ashwini Shinde |
| Exit load | • In respect of each purchase / switch-in of Units, an Exit load of 0.25% is payable if Units are redeemed / switched-out within 15 days from the date of allotment of units. • No Exit Load is payable if Units are redeemed/switched-out after 15 days from the date of allotment. | There will be no exit load for units sold through the secondary market on the stock exchanges where the Scheme will be listed. Currently, the Scheme is proposed to be listed on BSE and NSE. Investors shall note that the brokerage on sales of the units of the scheme on the stock exchanges shall be borne by the investors. |
HDFC Arbitrage vs ICICI Prudential BSE 500 ETF: 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 |
|---|---|---|---|---|---|---|---|
| HDFC Arbitrage Fund (Direct) | +0.55% | +1.55% | +3.25% | +6.66% | +7.26% | +6.73% | +6.13% |
| ICICI Prudential BSE 500 ETF | −0.90% | −6.15% | −3.10% | −7.94% | +9.53% | +8.30% | -- |
| 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.
HDFC Arbitrage vs ICICI Prudential BSE 500 ETF: Year-wise Returns
| Year | HDFC ArbitrageHDFC Arbitrage | ICICI Prudential BSE 500 ETFICICI Prudential BSE 500 ETF |
|---|---|---|
| 2026to date | +5.43% | −8.04% |
| 2025 | +6.93% | +7.27% |
| 2024 | +8.22% | +15.40% |
| 2023 | +7.78% | +26.14% |
| 2022 | +4.73% | +4.44% |
| 2021 | +4.17% | +31.29% |
HDFC Arbitrage vs ICICI Prudential BSE 500 ETF: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of ICICI Prudential BSE 500 ETF
Rolling returns
Every 3-year holding period, 1,349 of them, one for each trading day from 11-05-2021 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.
HDFC Arbitrage Fund (Direct)
ICICI Prudential BSE 500 ETF
BSE 500 TRI
to
Oct 2021Sept 2019
to
Sept 2022Aug 2020
to
Aug 2023Aug 2021
to
Aug 2024Jul 2022
to
Jul 2025May 2023
to
May 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Arbitrage | 0.0 | 29.1 | 70.9 | 0.0 | 0.0 | 0.0 | 0.0 | 6.0% | 5.8% | 4.2% | 7.8% | 0% |
| ICICI Prudential BSE 500 ETF | 0.0 | 0.0 | 2.2 | 27.0 | 48.4 | 17.1 | 5.3 | 17.5% | 17.1% | 8.1% | 33.4% | 0% |
| BSE 500 TRI | 0.0 | 0.0 | 1.8 | 22.6 | 48.7 | 20.4 | 6.5 | 17.9% | 17.5% | 8.4% | 33.9% | -- |
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 BSE 500 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 11-05-2018. Past returns do not promise future returns.
HDFC Arbitrage vs ICICI Prudential BSE 500 ETF: 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 02-05-2018 to 30-10-2026: 102 instalments, ₹10,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC ArbitrageHDFC Arbitrage Fund (Direct) | ₹10,20,000 | ₹13,49,932 | ₹3,29,932 | 6.5% |
| ICICI Prudential BSE 500 ETFICICI Prudential BSE 500 ETF | ₹10,20,000 | ₹16,90,612 | ₹6,70,612 | 11.6% |
HDFC ArbitrageHDFC Arbitrage Fund (Direct)
ICICI Prudential BSE 500 ETFICICI Prudential BSE 500 ETF
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.
HDFC Arbitrage vs ICICI Prudential BSE 500 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Arbitrage Fund (Direct) | ICICI Prudential BSE 500 ETF |
|---|---|---|
| Return (CAGR) | +6.66% | −7.94% |
| Standard deviation | 1.39% | 14.35% |
| Sharpe ratio | 1.01 | -0.92 |
| Sortino ratio | 1.55 | -1.21 |
| Maximum drawdown | −0.5% (06-08-2026) | −14.8% (31-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.28% |
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 | HDFC Arbitrage Fund (Direct) | ICICI Prudential BSE 500 ETF |
|---|---|---|
| Return (CAGR) | +7.26% | +9.53% |
| Standard deviation | 1.10% | 14.18% |
| Sharpe ratio | 1.12 | 0.25 |
| Sortino ratio | 1.71 | 0.33 |
| Maximum drawdown | −0.5% (06-08-2026) | −18.8% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.36% |
From daily NAVs, 30-10-2023 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 | HDFC Arbitrage Fund (Direct) | ICICI Prudential BSE 500 ETF |
|---|---|---|
| Return (CAGR) | +6.73% | +8.30% |
| Standard deviation | 1.01% | 14.28% |
| Sharpe ratio | 0.92 | 0.18 |
| Sortino ratio | 1.39 | 0.24 |
| Maximum drawdown | −0.5% (06-08-2026) | −18.8% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.35% |
From daily NAVs, 29-10-2021 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 | HDFC Arbitrage Fund (Direct) | ICICI Prudential BSE 500 ETF |
|---|---|---|
| Return (CAGR) | +6.43% | +11.33% |
| Standard deviation | 1.02% | 16.66% |
| Sharpe ratio | 0.60 | 0.36 |
| Sortino ratio | 0.87 | 0.48 |
| Maximum drawdown | −0.7% (25-03-2020) | −38.0% (23-03-2020) |
| Beta | -- | 0.99 |
| Alpha | -- | −0.29% |
From daily NAVs, 27-03-2014 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.
HDFC Arbitrage Fund (Direct)
ICICI Prudential BSE 500 ETF
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Arbitrage Fund (Direct) | −0.7% | 16-03-2020 | 25-03-2020 | 03-04-2020 | 9 days | −0.1% |
| ICICI Prudential BSE 500 ETF | −38.0% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −10.0% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 11-05-2018, 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.
HDFC Arbitrage Fund (Direct)
ICICI Prudential BSE 500 ETF
BSE 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Arbitrage Fund (Direct)
ICICI Prudential BSE 500 ETF
BSE 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Arbitrage Fund (Direct)
ICICI Prudential BSE 500 ETF
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC Arbitrage Fund (Direct) | 12% | -15% | 17.86% |
| ICICI Prudential BSE 500 ETF | 99% | 100% | 0.18% |
From month-end values since 11-05-2018. 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.
HDFC Arbitrage vs ICICI Prudential BSE 500 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Arbitrage Fund, September 2026; ICICI Prudential BSE 500 ETF, September 2026
Holdings in common
- Overlap
- 49.7%
- Held by both
- 150
- Only in HDFC Arbitrage
- 19
- Only in ICICI Prudential BSE 500 ETF
- 351
| Security | % of HDFC Arbitrage | % of ICICI Prudential BSE 500 ETF |
|---|---|---|
| HDFC Bank Ltd. | 5.04% | 5.73% |
| ICICI Bank Ltd. | 5.04% | 5.02% |
| Reliance Industries Ltd. | 3.39% | 4.17% |
| Bharti Airtel Ltd. | 3.31% | 2.90% |
| State Bank of India | 2.30% | 2.11% |
| Axis Bank Ltd. | 2.87% | 1.86% |
| Kotak Mahindra Bank Limited | 1.44% | 1.63% |
| Bajaj Finance Ltd. | 1.80% | 1.36% |
| Hindustan Unilever Ltd. | 1.43% | 0.89% |
| Tata Steel Ltd. | 1.55% | 0.81% |
| NTPC Limited | 0.74% | 0.81% |
| Hindalco Industries Ltd. | 0.73% | 0.72% |
| JSW Steel Ltd. | 2.32% | 0.63% |
| Divis Laboratories Ltd. | 1.26% | 0.63% |
| InterGlobe Aviation Ltd. | 0.62% | 0.59% |
| ITC LIMITED | 0.59% | 1.35% |
| Infosys Limited | 0.57% | 1.86% |
| Larsen and Toubro Ltd. | 0.54% | 2.32% |
| Coal India Ltd. | 0.87% | 0.54% |
| Eicher Motors Ltd. | 0.58% | 0.52% |
| TVS Motor Company Ltd. | 1.10% | 0.51% |
| ADANI ENTERPRISES LIMTIED | 0.49% | 0.52% |
| Bharat Electronics Ltd. | 0.46% | 0.74% |
| Multi Commodity Exchange of India L | 0.44% | 0.45% |
| Apollo Hospitals Enterprise Ltd. | 0.59% | 0.44% |
| Mahindra & Mahindra Ltd. | 0.43% | 1.40% |
| Maruti Suzuki India Limited | 0.42% | 0.82% |
| Cholamandalam Investment & Finance Co. Ltd. | 0.62% | 0.37% |
| Tata Consumer Products Limited | 0.49% | 0.32% |
| Bharat Heavy Electricals Ltd. | 0.46% | 0.32% |
| Tata Motors Passenger Vehicles Limited | 0.36% | 0.32% |
| Jio Financial Services Limited | 0.31% | 0.38% |
| Varun Beverages Ltd | 0.56% | 0.31% |
| The Tata Power Company Ltd. | 0.30% | 0.32% |
| HDFC Life Insurance Company Limited | 0.38% | 0.29% |
| Life Insurance Corporation of India | 0.40% | 0.29% |
| Hindustan Aeronautics Limited | 0.29% | 0.46% |
| Cummins India Ltd. | 0.29% | 0.34% |
| IDFC First Bank Limited | 0.95% | 0.29% |
| Asian Paints Limited | 0.28% | 0.58% |
| Bharat Forge Ltd. | 0.35% | 0.27% |
| Indian Hotels Company Ltd. | 0.27% | 0.34% |
| GE Vernova T&D India Limited | 0.27% | 0.27% |
| Indian Oil Corporation Ltd. | 0.48% | 0.26% |
| Indus Towers Limited | 0.81% | 0.26% |
| Power Finance Corporation Ltd. | 0.41% | 0.25% |
| INFO EDGE (INDIA) LIMITED | 0.37% | 0.25% |
| Titan Company Ltd. | 0.24% | 0.99% |
| Ashok Leyland Ltd | 0.29% | 0.23% |
| Bharat Petroleum Corporation Ltd. | 0.23% | 0.31% |
| Pidilite Industries Ltd. | 0.23% | 0.24% |
| Coforge Limited | 0.23% | 0.32% |
| APL Apollo Tubes Ltd. | 0.23% | 0.23% |
| Adani Power (Mundra) Limited | 0.23% | 0.46% |
| Bank of Baroda | 0.74% | 0.23% |
| Marico Ltd. | 0.57% | 0.22% |
| Canara Bank | 1.52% | 0.21% |
| UltraTech Cement Limited | 0.21% | 0.68% |
| Punjab National Bank | 1.27% | 0.21% |
| Yes Bank Ltd. | 0.29% | 0.19% |
| Grasim Industries Ltd. | 0.19% | 0.61% |
| Adani Energy Solutions Limited | 0.19% | 0.21% |
| VODAFONE IDEA LIMITED | 1.03% | 0.19% |
| Glenmark Pharmaceuticals Ltd. | 0.46% | 0.18% |
| Adani Green Energy Limited | 0.18% | 0.22% |
| Bajaj Auto Limited | 0.18% | 0.61% |
| Hindustan Petroleum Corp. Ltd. | 0.32% | 0.18% |
| Aditya Birla Capital ltd. | 0.33% | 0.17% |
| Aurobindo Pharma Ltd. | 0.17% | 0.24% |
| Eternal Limited | 0.17% | 1.22% |
| Torrent Pharmaceuticals Ltd. | 0.16% | 0.30% |
| Alkem Laboratories Ltd. | 0.18% | 0.16% |
| UPL Ltd. | 0.16% | 0.16% |
| Lupin Ltd. | 0.15% | 0.26% |
| Bajaj Finserv Ltd. | 0.15% | 0.51% |
| Samvardhana Motherson International Ltd. | 0.14% | 0.38% |
| NMDC Limited | 0.67% | 0.14% |
| Steel Authority Of India Ltd. | 0.60% | 0.14% |
| Biocon Ltd. | 0.37% | 0.14% |
| Cipla Ltd. | 0.13% | 0.40% |
| Radico Khaitan Limited | 0.13% | 0.18% |
| Voltas Ltd. | 0.21% | 0.13% |
| Ambuja Cements Ltd. | 0.44% | 0.12% |
| Kalyan Jewellers India Ltd | 0.39% | 0.11% |
| The Federal Bank Ltd. | 0.11% | 0.42% |
| Godrej Properties Ltd. | 0.26% | 0.11% |
| Indusind Bank Ltd. | 0.10% | 0.31% |
| One 97 Communications Limited | 0.10% | 0.38% |
| Bandhan Bank Ltd. | 0.13% | 0.09% |
| Delhivery Limited | 0.09% | 0.13% |
| Bank of India | 0.26% | 0.08% |
| LIC Housing Finance Ltd. | 0.48% | 0.08% |
| Max Financial Services Ltd. | 0.08% | 0.19% |
| PNB Housing Finance Ltd. | 0.08% | 0.11% |
| Shriram Finance Ltd. | 0.08% | 0.72% |
| Tube Investments of India Ltd. | 0.08% | 0.13% |
| Sun Pharmaceutical Industries Ltd. | 0.07% | 1.04% |
| Fortis Healthcare Limited | 0.07% | 0.21% |
| JSW Energy Ltd. | 0.07% | 0.16% |
| GAIL (India) Ltd. | 0.07% | 0.24% |
| Avenue Supermarts Ltd. | 0.07% | 0.33% |
| Supreme Industries Ltd. | 0.07% | 0.12% |
| Oil & Natural Gas Corporation Ltd. | 0.07% | 0.46% |
| DLF LIMITED | 0.07% | 0.23% |
| Union Bank of India | 0.07% | 0.17% |
| Patanjali Foods Limited | 0.13% | 0.07% |
| SBI Life Insurance Company Ltd. | 0.06% | 0.40% |
| Solar Industries India Ltd. | 0.06% | 0.25% |
| Au Small Finance Bank Ltd. | 0.06% | 0.30% |
| CG Power and Industrial Solutions Ltd. | 0.05% | 0.31% |
| Sagility Limited | 0.05% | 0.05% |
| National Aluminium Co. Ltd. | 0.05% | 0.16% |
| MphasiS Limited. | 0.05% | 0.15% |
| Muthoot Finance Ltd. | 0.05% | 0.16% |
| Computer Age Management Services | 0.05% | 0.09% |
| Jindal Steel Limited. | 0.05% | 0.22% |
| United Spirits Limited | 0.05% | 0.21% |
| Indian Energy Exchange Limited | 0.26% | 0.05% |
| PG Electroplast Limited | 0.08% | 0.04% |
| Swiggy Limited | 0.04% | 0.20% |
| Container Corporation of India Ltd. | 0.04% | 0.08% |
| Amber Enterprises India Ltd. | 0.04% | 0.08% |
| Tata Consultancy Services Ltd. | 0.04% | 1.10% |
| GMR Airports Limited | 0.04% | 0.18% |
| Trent Ltd. | 0.04% | 0.46% |
| INOX Wind Limited | 0.16% | 0.04% |
| Dabur India Ltd. | 0.03% | 0.12% |
| NBCC (India) Limited | 0.03% | 0.04% |
| Britannia Industries Ltd. | 0.03% | 0.30% |
| Nestle India Ltd. | 0.03% | 0.50% |
| SRF Ltd. | 0.03% | 0.19% |
| HCL Technologies Ltd. | 0.03% | 0.69% |
| Suzlon Energy Ltd | 0.02% | 0.25% |
| Hindustan Zinc Ltd. | 0.02% | 0.14% |
| Oil India Limited | 0.02% | 0.13% |
| Crompton Greaves Consumer Elec. Ltd. | 0.02% | 0.07% |
| PB Fintech Limited | 0.02% | 0.20% |
| Manappuram Finance Ltd. | 0.02% | 0.09% |
| Page Industries Ltd | 0.02% | 0.12% |
| Astral Limited | 0.01% | 0.09% |
| Zydus Lifesciences Limited | 0.01% | 0.15% |
| Hitachi Energy India Ltd. | 0.01% | 0.20% |
| Colgate-Palmolive ( I ) Ltd. | 0.01% | 0.12% |
| Motilal Oswal Financial Services Ltd. | 0.01% | 0.08% |
| Polycab India Limited | 0.01% | 0.22% |
| Angel One Ltd. | 0.01% | 0.08% |
| Adani Ports & Special Economic Zone | 0.01% | 0.74% |
| Power Grid Corporation of India Ltd. | 0.01% | 0.63% |
| Laurus Labs Ltd. | 0.01% | 0.41% |
| RBL Bank Ltd. | 0.01% | 0.13% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 49.7% means 49.7% 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 HDFC Arbitrage Fund
| Security | % of fund |
|---|---|
| HDFC Money Market Fund - Direct Plan - Growth Option | 9.14% |
| Union Bank of India | 3.84% |
| HDFC Liquid Fund - Direct Plan - Growth Option | 3.75% |
| HDFC Ultra Short Term Fund - Direct Plan - Growth Option | 2.85% |
| HDFC Ultra Short to Short Term Fund - Direct Plan - Growth Option | 2.64% |
Largest holdings only in ICICI Prudential BSE 500 ETF
| Security | % of fund |
|---|---|
| Tech Mahindra Ltd. | 0.52% |
| Lenskart Solutions Ltd. | 0.49% |
| TML Commercial Vehicles Ltd. | 0.47% |
| Meesho Ltd | 0.47% |
| Dr. Reddy's Laboratories Ltd. | 0.40% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Arbitrage | ICICI Prudential BSE 500 ETF |
|---|---|---|
| Equity | 67.5% | 100.0% |
| Debt | 9.0% | 0.0% |
| Cash and others | 23.4% | 0.0% |
Market cap of stocks
| Market cap | HDFC Arbitrage | ICICI Prudential BSE 500 ETF |
|---|---|---|
| Large Cap | 55.6% | 67.1% |
| Mid Cap | 10.3% | 21.5% |
| Small Cap | 1.7% | 11.3% |
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 | HDFC Arbitrage | ICICI Prudential BSE 500 ETF |
|---|---|---|
| Banks | 22.2% | 19.5% |
| Finance | 4.3% | 6.4% |
| Pharmaceuticals & Biotechnology | 3.0% | 5.8% |
| It - Software | 0.0% | 5.8% |
| Telecom - Services | 5.2% | 3.6% |
| Petroleum Products | 4.4% | 5.0% |
| Automobiles | 3.1% | 4.9% |
| Ferrous Metals | 4.5% | 2.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Arbitrage vs ICICI Prudential BSE 500 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Arbitrage Fund | ICICI Prudential BSE 500 ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.48% | Not available |
| Base expense ratio (Direct) | 0.34% | 0.00% |
| Total expense ratio (Regular) | 2.02% | Not available |
| Base expense ratio (Regular) | 0.80% | 0.26% |
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
HDFC Arbitrage Fund vs ICICI Prudential BSE 500 ETF: Frequently Asked Questions
What is the difference between HDFC Arbitrage Fund and ICICI Prudential BSE 500 ETF?
HDFC Arbitrage Fund is an Arbitrage fund, ICICI Prudential BSE 500 ETF is an ETF fund, run by HDFC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 49.7%. HDFC Arbitrage Fund charges 1.48% a year and ICICI Prudential BSE 500 ETF 0.33%.
Which has given higher returns, HDFC Arbitrage Fund or ICICI Prudential BSE 500 ETF?
Over 1 year: HDFC Arbitrage Fund +6.66%, ICICI Prudential BSE 500 ETF −7.94%. Over 3 years: HDFC Arbitrage Fund +7.26% a year, ICICI Prudential BSE 500 ETF +9.53% a year. Over 5 years: HDFC Arbitrage Fund +6.73% a year, ICICI Prudential BSE 500 ETF +8.30% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Arbitrage Fund or ICICI Prudential BSE 500 ETF?
ICICI Prudential BSE 500 ETF charges less: 0.33% a year against 1.48%. These are the total expense ratios reported to AMFI.
How much do HDFC Arbitrage Fund and ICICI Prudential BSE 500 ETF overlap?
49.7%. They hold 150 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is better for SIP, HDFC Arbitrage Fund or ICICI Prudential BSE 500 ETF?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,30,981 in HDFC Arbitrage Fund (XIRR 7.1% a year) and ₹7,27,545 in ICICI Prudential BSE 500 ETF (XIRR 6.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Arbitrage Fund and ICICI Prudential BSE 500 ETF?
Yes. 49.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC Arbitrage Fund and ICICI Prudential BSE 500 ETF?
HDFC Arbitrage Fund: Nandita Menezes, Arun Agarwal, Anil Bamboli, Gopal Agrawal. ICICI Prudential BSE 500 ETF: Nishit Patel, Ajaykumar Solanki, Ashwini Shinde.
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.