Helios Arbitrage Fund vs LIC MF Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Helios Arbitrage Fund and LIC MF Arbitrage Fund are both Arbitrage funds. Helios Arbitrage Fund charges 1.76% a year and LIC MF Arbitrage Fund 1.04% (Direct plans). Their portfolios overlap 38.2%: they hold 16 of the same securities.
Which is better, Helios Arbitrage or LIC MF Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- LIC MF Arbitrage costs less: 1.04% a year against 1.76% (Direct plans).
- LIC MF Arbitrage fell less in its worst fall since 23-03-2026: −0.4% against −0.5%.
- LIC MF Arbitrage is the larger fund: ₹305 Cr against ₹133 Cr.
- Their portfolios overlap 38.2%: 16 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 | LIC MF Arbitrage Fund |
|---|---|---|
| Fund house | Helios Mutual Fund | LIC Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹133 Cr (30-09-2026) | ₹305 Cr (30-09-2026) |
| NAV | ₹10.36 (Direct) | ₹15.71 (Direct) |
| Expense ratio (Direct) | 1.76% | 1.04% |
| Expense ratio (Regular) | 2.28% | 1.62% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 20-03-2026 | 25-01-2019 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Alok Bahl, Pratik Singh | Sumit Bhatnagar, Sasikant Aravamuthan, Pratik Harish Shroff |
| Exit load | Exit load of 0.25%, if redeemed within 7 Days. | Exit load of 0.25% if redeemed within 1 months. |
Helios Arbitrage vs LIC MF 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% | -- | -- | -- | -- |
| LIC MF Arbitrage Fund (Direct) | +0.59% | +1.54% | +3.30% | +6.72% | +7.08% | +6.64% | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Helios Arbitrage vs LIC MF Arbitrage: Year-wise Returns
| Year | HeliosHelios Arbitrage | LIC MFLIC MF Arbitrage |
|---|---|---|
| 2026to date | -- | +5.53% |
| 2025 | -- | +6.82% |
| 2024 | -- | +7.81% |
| 2023 | -- | +7.41% |
| 2022 | -- | +4.96% |
| 2021 | -- | +3.93% |
Helios Arbitrage vs LIC MF Arbitrage: Rolling Returns
Every holding period of both funds
Helios Arbitrage vs LIC MF 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) | LIC MF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.84% | +5.98% |
| Standard deviation | 1.99% | 1.07% |
| Sharpe ratio | 0.29 | 0.73 |
| Sortino ratio | 0.43 | 1.07 |
| Maximum drawdown | −0.5% (04-09-2026) | −0.7% (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)
LIC MF 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% |
| LIC MF Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.1% |
From daily values since 23-03-2026, the first day every fund has.
Helios Arbitrage vs LIC MF Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Helios Arbitrage Fund, September 2026; LIC MF Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 38.2%
- Held by both
- 16
- Only in Helios Arbitrage
- 19
- Only in LIC MF Arbitrage
- 19
| Security | % of Helios Arbitrage | % of LIC MF Arbitrage |
|---|---|---|
| HDFC Bank Ltd. | 6.93% | 8.80% |
| Reliance Industries Ltd. | 5.80% | 5.98% |
| ICICI Bank Ltd. | 5.78% | 7.23% |
| Tata Steel Ltd. | 4.77% | 4.94% |
| State Bank of India | 4.22% | 6.33% |
| Axis Bank Ltd. | 5.59% | 3.22% |
| Bharti Airtel Ltd. | 1.95% | 4.96% |
| Jio Financial Services Ltd. | 1.80% | 2.28% |
| Hindalco Industries Ltd. | 1.74% | 6.66% |
| Punjab National Bank | 0.95% | 0.80% |
| Bank of Baroda | 2.13% | 0.60% |
| Indus Towers Ltd. | 0.81% | 0.40% |
| Crompton Greaves Consumer Electricals Ltd. | 1.62% | 0.12% |
| Asian Paints Ltd. | 0.41% | 0.04% |
| Power Finance Corporation Ltd. | 0.64% | 0.03% |
| Larsen & Toubro Ltd. | 3.51% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.2% means 38.2% 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 |
|---|---|
| Life Insurance Corporation of India | 5.58% |
| Eicher Motors Ltd. | 4.36% |
| 364 DAY T-BILL 28.01.27 | 3.69% |
| 364 DAY T-BILL 11.03.27 | 3.67% |
| Canara Bank | 3.64% |
Largest holdings only in LIC MF Arbitrage Fund
| Security | % of fund |
|---|---|
| LIC MF ULTRA SHRT DUR FD -DIRECT PLAN | 15.63% |
| LIC MF MONEY MARKET FUND-DIRECT PLAN-GR | 13.24% |
| HDFC Life Insurance Company Ltd. | 2.75% |
| Bharat Electronics Ltd. | 2.52% |
| GMR Airports Ltd. | 2.24% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Helios Arbitrage | LIC MF Arbitrage |
|---|---|---|
| Equity | 75.3% | 67.4% |
| Debt | 21.8% | 0.0% |
| Cash and others | 2.9% | 32.6% |
Market cap of stocks
| Market cap | Helios Arbitrage | LIC MF Arbitrage |
|---|---|---|
| Large Cap | 68.6% | 64.0% |
| Mid Cap | 5.1% | 3.4% |
| Small Cap | 1.6% | 0.1% |
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 | LIC MF Arbitrage |
|---|---|---|
| Banks | 31.1% | 29.2% |
| Ferrous Metals | 7.5% | 5.3% |
| Non - Ferrous Metals | 1.7% | 6.7% |
| Petroleum Products | 5.8% | 6.0% |
| Insurance | 5.6% | 2.8% |
| Telecom - Services | 2.8% | 5.4% |
| Automobiles | 4.5% | 1.6% |
| Finance | 4.5% | 2.3% |
The six largest sectors of each fund's stocks, % of the fund.
Helios Arbitrage vs LIC MF Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Helios Arbitrage Fund | LIC MF Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.76% | 1.04% |
| Base expense ratio (Direct) | 0.42% | 0.24% |
| Total expense ratio (Regular) | 2.28% | 1.62% |
| Base expense ratio (Regular) | 0.87% | 0.74% |
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 LIC MF Arbitrage Fund: Frequently Asked Questions
What is the difference between Helios Arbitrage Fund and LIC MF Arbitrage Fund?
Both are Arbitrage funds, run by Helios Mutual Fund and LIC Mutual Fund. Their portfolios overlap 38.2%. Helios Arbitrage Fund charges 1.76% a year and LIC MF Arbitrage Fund 1.04%.
Which has the lower expense ratio, Helios Arbitrage Fund or LIC MF Arbitrage Fund?
LIC MF Arbitrage Fund charges less: 1.04% a year against 1.76%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Helios Arbitrage Fund and LIC MF Arbitrage Fund overlap?
38.2%. They hold 16 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, Helios Arbitrage Fund or LIC MF Arbitrage Fund?
On SEBI's riskometer, Helios Arbitrage Fund is rated Low and LIC MF Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.99% and 1.07% a year.
Can I invest in both Helios Arbitrage Fund and LIC MF Arbitrage Fund?
Yes. 38.2% 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 LIC MF Arbitrage Fund?
Helios Arbitrage Fund: Alok Bahl, Pratik Singh. LIC MF Arbitrage Fund: Sumit Bhatnagar, Sasikant Aravamuthan, Pratik Harish Shroff.
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.