Helios Arbitrage Fund vs Invesco India Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Helios Arbitrage Fund and Invesco India Arbitrage Fund are both Arbitrage funds. Helios Arbitrage Fund charges 1.76% a year and Invesco India Arbitrage Fund 2.20% (Direct plans). Their portfolios overlap 32.4%: they hold 29 of the same securities.
Which is better, Helios Arbitrage 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.
- Helios Arbitrage costs less: 1.76% a year against 2.20% (Direct plans).
- Invesco India Arbitrage fell less in its worst fall since 23-03-2026: −0.4% against −0.5%.
- Helios Arbitrage holds more in large companies: 68.6% of the fund in large caps against 53.9%.
- Invesco India Arbitrage is the larger fund: ₹30,396 Cr against ₹133 Cr.
- Their portfolios overlap 32.4%: 29 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 | Helios Arbitrage Fund | Invesco India Arbitrage Fund |
|---|---|---|
| Fund house | Helios Mutual Fund | Invesco Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹133 Cr (30-09-2026) | ₹30,396 Cr (30-09-2026) |
| NAV | ₹10.36 (Direct) | ₹37.63 (Direct) |
| Expense ratio (Direct) | 1.76% | 2.20% |
| Expense ratio (Regular) | 2.28% | 2.87% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 20-03-2026 | 30-04-2007 |
| Minimum investment | ₹5,000 | Not available |
| Lock in | None | None |
| Fund managers | Alok Bahl, Pratik Singh | Deepak Gupta, Pradeep Sukte |
| Exit load | Exit load of 0.25%, if redeemed within 7 Days. | Exit load of 0.50% if redeemed within 15 days |
Helios Arbitrage 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.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Helios Arbitrage Fund (Direct) | +0.58% | +1.37% | +2.98% | -- | -- | -- | -- |
| 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.
Helios Arbitrage vs Invesco India Arbitrage: Year-wise Returns
| Year | HeliosHelios Arbitrage | Invesco IndiaInvesco India Arbitrage |
|---|---|---|
| 2026to date | -- | +5.60% |
| 2025 | -- | +7.17% |
| 2024 | -- | +8.32% |
| 2023 | -- | +8.07% |
| 2022 | -- | +5.85% |
| 2021 | -- | +4.15% |
Helios Arbitrage vs Invesco India Arbitrage: Rolling Returns
Every holding period of both funds
Helios Arbitrage vs Invesco India Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Helios Arbitrage Fund (Direct) | Invesco India Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.84% | +6.95% |
| Standard deviation | 1.99% | 1.04% |
| Sharpe ratio | 0.29 | 0.87 |
| Sortino ratio | 0.43 | 1.29 |
| Maximum drawdown | −0.5% (04-09-2026) | −0.5% (03-06-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 23-03-2026 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.
Helios Arbitrage Fund (Direct)
Invesco India Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Helios Arbitrage Fund (Direct) | −0.5% | 31-08-2026 | 04-09-2026 | 10-09-2026 | 6 days | −0.1% |
| Invesco India Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | −0.0% |
From daily values since 23-03-2026, the first day every fund has.
Helios Arbitrage vs Invesco India Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Helios Arbitrage Fund, September 2026; Invesco India Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 32.4%
- Held by both
- 29
- Only in Helios Arbitrage
- 6
- Only in Invesco India Arbitrage
- 165
| Security | % of Helios Arbitrage | % of Invesco India Arbitrage |
|---|---|---|
| HDFC Bank Ltd. | 6.93% | 5.58% |
| ICICI Bank Ltd. | 5.78% | 4.55% |
| Reliance Industries Ltd. | 5.80% | 3.48% |
| Axis Bank Ltd. | 5.59% | 2.20% |
| State Bank of India | 4.22% | 1.99% |
| Bharti Airtel Ltd. | 1.95% | 2.16% |
| Tata Steel Ltd. | 4.77% | 1.57% |
| Canara Bank | 3.64% | 1.52% |
| Jio Financial Services Ltd. | 1.80% | 1.46% |
| Multi Commodity Exchange of India Ltd. | 1.34% | 1.55% |
| Punjab National Bank | 0.95% | 1.03% |
| Indus Towers Ltd. | 0.81% | 0.77% |
| Power Finance Corporation Ltd. | 0.64% | 1.77% |
| Crompton Greaves Consumer Electricals Ltd. | 1.62% | 0.55% |
| Bank of Baroda | 2.13% | 0.50% |
| Life Insurance Corporation of India | 5.58% | 0.43% |
| Jindal Steel Ltd. | 2.72% | 0.39% |
| HDFC Asset Management Co. Ltd. | 1.24% | 0.32% |
| Union Bank of India | 0.68% | 0.32% |
| Bajaj Finance Ltd. | 0.65% | 0.32% |
| Bank of India | 1.17% | 0.26% |
| Hindalco Industries Ltd. | 1.74% | 0.22% |
| Muthoot Finance Ltd. | 1.36% | 0.21% |
| Ashok Leyland Ltd. | 2.55% | 0.20% |
| Eicher Motors Ltd. | 4.36% | 0.19% |
| Asian Paints Ltd. | 0.41% | 0.18% |
| Maruti Suzuki India Ltd. | 0.18% | 0.37% |
| Larsen & Toubro Ltd. | 3.51% | 0.12% |
| Cipla Ltd. | 1.20% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 32.4% means 32.4% 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 Helios Arbitrage Fund
| Security | % of fund |
|---|---|
| 364 DAY T-BILL 28.01.27 | 3.69% |
| 364 DAY T-BILL 11.03.27 | 3.67% |
| 364 DAY T-BILL 13.05.27 | 3.63% |
| 364 DAY T-BILL 06.05.27 | 3.63% |
| 364 DAY T-BILL 05.08.27 | 3.58% |
Largest holdings only in Invesco India Arbitrage Fund
| Security | % of fund |
|---|---|
| Invesco India Money Market Fund - Direct Plan - Growth | 5.52% |
| Invesco India Liquid Fund - Direct Plan - Growth | 5.22% |
| Vodafone Idea Limited | 2.20% |
| Adani Power Limited | 2.11% |
| IDFC First Bank Limited | 1.77% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Helios Arbitrage | Invesco India Arbitrage |
|---|---|---|
| Equity | 75.3% | 79.6% |
| Debt | 21.8% | 5.8% |
| Cash and others | 2.9% | 14.6% |
Market cap of stocks
| Market cap | Helios Arbitrage | Invesco India Arbitrage |
|---|---|---|
| Large Cap | 68.6% | 53.9% |
| Mid Cap | 5.1% | 20.6% |
| Small Cap | 1.6% | 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
| Sector | Helios Arbitrage | Invesco India Arbitrage |
|---|---|---|
| Banks | 31.1% | 23.3% |
| Ferrous Metals | 7.5% | 2.3% |
| Finance | 4.5% | 6.1% |
| Petroleum Products | 5.8% | 4.4% |
| Insurance | 5.6% | 0.9% |
| Telecom - Services | 2.8% | 5.1% |
| Automobiles | 4.5% | 1.9% |
| IT - Software | 0.0% | 3.6% |
| Pharmaceuticals & Biotechnology | 1.2% | 3.2% |
The six largest sectors of each fund's stocks, % of the fund.
Helios Arbitrage vs Invesco India Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Helios Arbitrage Fund | Invesco India Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.76% | 2.20% |
| Base expense ratio (Direct) | 0.42% | 0.34% |
| Total expense ratio (Regular) | 2.28% | 2.87% |
| Base expense ratio (Regular) | 0.87% | 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
Compare Helios Arbitrage with
Helios Arbitrage Fund vs Invesco India Arbitrage Fund: Frequently Asked Questions
What is the difference between Helios Arbitrage Fund and Invesco India Arbitrage Fund?
Both are Arbitrage funds, run by Helios Mutual Fund and Invesco Mutual Fund. Their portfolios overlap 32.4%. Helios Arbitrage Fund charges 1.76% a year and Invesco India Arbitrage Fund 2.20%.
Which has the lower expense ratio, Helios Arbitrage Fund or Invesco India Arbitrage Fund?
Helios Arbitrage Fund charges less: 1.76% a year against 2.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Helios Arbitrage Fund and Invesco India Arbitrage Fund overlap?
32.4%. They hold 29 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Helios Arbitrage Fund or Invesco India Arbitrage Fund?
On SEBI's riskometer, Helios Arbitrage Fund is rated Low and Invesco India Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.99% and 1.04% a year.
Can I invest in both Helios Arbitrage Fund and Invesco India Arbitrage Fund?
Yes. 32.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Helios Arbitrage Fund and Invesco India Arbitrage Fund?
Helios Arbitrage Fund: Alok Bahl, Pratik Singh. 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.