Invesco India Arbitrage Fund vs JioBlackRock Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Arbitrage Fund and JioBlackRock Arbitrage Fund are both Arbitrage funds. Invesco India Arbitrage Fund charges 2.20% a year and JioBlackRock Arbitrage Fund 1.99% (Direct plans). Their portfolios overlap 45.9%: they hold 117 of the same securities.
Which is better, Invesco India Arbitrage or JioBlackRock Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- JioBlackRock Arbitrage costs less: 1.99% a year against 2.20% (Direct plans).
- Invesco India Arbitrage fell less in its worst fall since 19-12-2025: −0.4% against −0.4%.
- Invesco India Arbitrage is the larger fund: ₹30,396 Cr against ₹558 Cr.
- Their portfolios overlap 45.9%: 117 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 | Invesco India Arbitrage Fund | JioBlackRock Arbitrage Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Jio BlackRock Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹30,396 Cr (30-09-2026) | ₹558 Cr (30-09-2026) |
| NAV | ₹37.63 (Direct) | ₹10.61 (Direct) |
| Expense ratio (Direct) | 2.20% | 1.99% |
| Expense ratio (Regular) | 2.87% | 3.26% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage Index | Nifty 50 Arbitrage TRI |
| Launch date | 30-04-2007 | 21-08-2026 |
| Minimum investment | Not available | ₹500 |
| Lock in | None | None |
| Fund managers | Deepak Gupta, Pradeep Sukte | Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R |
| Exit load | Exit load of 0.50% if redeemed within 15 days | Nil |
Invesco India Arbitrage vs JioBlackRock 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 |
|---|---|---|---|---|---|---|---|
| Invesco India Arbitrage Fund (Direct) | +0.63% | +1.62% | +3.40% | +6.88% | +7.46% | +7.14% | +6.46% |
| JioBlackRock Arbitrage Fund (Direct) | +0.67% | +1.65% | +3.38% | -- | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | -- | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Invesco India Arbitrage vs JioBlackRock Arbitrage: Year-wise Returns
| Year | Invesco IndiaInvesco India Arbitrage | JioBlackRockJioBlackRock Arbitrage |
|---|---|---|
| 2026to date | +5.60% | +5.76% |
| 2025 | +7.17% | -- |
| 2024 | +8.32% | -- |
| 2023 | +8.07% | -- |
| 2022 | +5.85% | -- |
| 2021 | +4.15% | -- |
Invesco India Arbitrage vs JioBlackRock Arbitrage: Rolling Returns
Every holding period of both funds
Invesco India Arbitrage vs JioBlackRock Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Arbitrage Fund (Direct) | JioBlackRock Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.95% | +7.01% |
| Standard deviation | 1.04% | 1.50% |
| Sharpe ratio | 0.87 | 1.19 |
| Sortino ratio | 1.29 | 1.84 |
| Maximum drawdown | −0.5% (03-06-2020) | −0.4% (06-08-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 02-01-2013 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.
Invesco India Arbitrage Fund (Direct)
JioBlackRock Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Invesco India Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | −0.0% |
| JioBlackRock Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | 0.0% |
From daily values since 19-12-2025, the first day every fund has.
Invesco India Arbitrage vs JioBlackRock Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Arbitrage Fund, September 2026; JioBlackRock Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 45.9%
- Held by both
- 117
- Only in Invesco India Arbitrage
- 77
- Only in JioBlackRock Arbitrage
- 4
| Security | % of Invesco India Arbitrage | % of JioBlackRock Arbitrage |
|---|---|---|
| HDFC Bank Limited | 5.58% | 6.97% |
| ICICI Bank Limited | 4.55% | 7.14% |
| Reliance Industries Limited | 3.48% | 6.48% |
| Vodafone Idea Limited | 2.20% | 5.24% |
| State Bank of India | 1.99% | 2.14% |
| Tata Steel Limited | 1.57% | 1.74% |
| Canara Bank | 1.52% | 4.85% |
| Yes Bank Limited | 1.38% | 2.42% |
| Axis Bank Limited | 2.20% | 1.22% |
| Adani Power Limited | 2.11% | 1.00% |
| Infosys Limited | 1.01% | 0.87% |
| Varun Beverages Ltd | 0.80% | 0.93% |
| The Federal Bank Limited | 0.78% | 1.09% |
| Cummins India Limited | 0.77% | 0.72% |
| NMDC Limited | 0.71% | 0.93% |
| Power Finance Corporation Limited | 1.77% | 0.64% |
| IDFC First Bank Limited | 1.77% | 0.62% |
| ITC Limited | 0.61% | 1.62% |
| HCL Technologies Limited | 0.61% | 0.66% |
| Multi Commodity Exchange of India Limited | 1.55% | 0.60% |
| Crompton Greaves Consumer Electricals Limited | 0.55% | 1.67% |
| Bharti Airtel Limited | 2.16% | 0.54% |
| Manappuram Finance Limited | 0.53% | 0.64% |
| Coal India Limited | 1.47% | 0.51% |
| Bank of Baroda | 0.50% | 1.22% |
| Godrej Properties Limited | 0.45% | 0.70% |
| Life Insurance Corporation Of India | 0.43% | 3.72% |
| Torrent Pharmaceuticals Limited | 0.40% | 0.72% |
| Divi's Laboratories Limited | 1.08% | 0.40% |
| Container Corporation of India Limited | 0.58% | 0.34% |
| Swiggy Limited | 0.34% | 1.19% |
| APL Apollo Tubes Limited | 1.77% | 0.33% |
| Bajaj Finance Ltd | 0.32% | 0.40% |
| Adani Enterprises Limited | 0.32% | 1.57% |
| Canara Bank 2027 | 0.32% | 4.38% |
| Delhivery Limited | 0.31% | 0.44% |
| BSE Limited | 0.29% | 0.34% |
| Tata Consultancy Services Limited | 0.67% | 0.29% |
| Astral Limited | 0.28% | 0.43% |
| PG Electroplast Limited | 0.28% | 0.82% |
| Kotak Mahindra Bank Ltd | 0.52% | 0.27% |
| Maruti Suzuki India Limited | 0.37% | 0.27% |
| Lupin Limited | 0.30% | 0.26% |
| Mahindra & Mahindra Limited | 0.23% | 0.34% |
| Hindalco Industries Limited | 0.22% | 0.41% |
| Hindustan Aeronautics Limited | 0.28% | 0.21% |
| Bharat Electronics Limited | 0.21% | 0.37% |
| Ashok Leyland Limited | 0.20% | 0.25% |
| The Indian Hotels Company Limited | 0.60% | 0.18% |
| KEI Industries Limited | 0.15% | 0.77% |
| Aditya Birla Capital Limited | 0.17% | 0.15% |
| NTPC Limited | 0.24% | 0.15% |
| JSW Energy Limited | 0.18% | 0.14% |
| Titan Company Limited | 0.14% | 0.19% |
| Jio Financial Services Limited | 1.46% | 0.14% |
| Marico Limited | 0.38% | 0.14% |
| Biocon Limited | 0.64% | 0.13% |
| Tech Mahindra Limited | 0.34% | 0.13% |
| Radico Khaitan Limited | 0.13% | 0.16% |
| Indian Oil Corporation Limited | 0.60% | 0.13% |
| Hindustan Unilever Limited | 0.78% | 0.12% |
| Bharat Heavy Electricals Limited | 0.24% | 0.12% |
| LIC Housing Finance Limited | 0.64% | 0.11% |
| Punjab National Bank | 1.03% | 0.11% |
| Tata Power Company Limited | 0.21% | 0.11% |
| Kalyan Jewellers India Limited | 0.11% | 0.31% |
| SBI Cards and Payment Services Limited | 0.10% | 0.12% |
| Aurobindo Pharma Limited | 0.16% | 0.10% |
| Indus Towers Limited | 0.77% | 0.09% |
| AU Small Finance Bank Limited | 0.19% | 0.09% |
| National Aluminium Company Limited | 0.09% | 0.29% |
| Oil & Natural Gas Corporation Limited | 0.09% | 0.21% |
| SRF Limited | 0.09% | 0.40% |
| Computer Age Management Services Limited | 0.50% | 0.09% |
| Bajaj Holdings & Investment Limited | 0.09% | 0.09% |
| Asian Paints Limited | 0.18% | 0.09% |
| Union Bank of India | 0.32% | 0.08% |
| Hindustan Petroleum Corporation Limited | 0.21% | 0.08% |
| Bajaj Auto Limited | 0.31% | 0.07% |
| Steel Authority of India Limited | 0.22% | 0.06% |
| Info Edge India Ltd | 0.23% | 0.06% |
| Power Grid Corporation of India Limited | 0.06% | 0.14% |
| Tata Motors Passenger Vehicles Limited | 0.55% | 0.06% |
| GE Vernova T&D India Limited | 0.58% | 0.06% |
| Bajaj Finserv Limited | 0.06% | 0.06% |
| Cholamandalam Investment and Finance Company Limited | 0.13% | 0.05% |
| GAIL (India) Limited | 0.12% | 0.05% |
| InterGlobe Aviation Limited | 0.16% | 0.05% |
| Fortis Healthcare Limited | 0.31% | 0.05% |
| UPL Limited | 0.27% | 0.05% |
| HDFC Life Insurance Company Limited | 0.18% | 0.05% |
| HDFC Asset Management Company Limited | 0.32% | 0.05% |
| RBL Bank Limited | 0.38% | 0.05% |
| Coforge Limited | 0.46% | 0.04% |
| MphasiS Limited | 0.32% | 0.04% |
| Sun Pharmaceutical Industries Limited | 0.04% | 0.31% |
| Samvardhana Motherson International Limited | 0.30% | 0.04% |
| Larsen & Toubro Limited | 0.12% | 0.04% |
| Oil India Limited | 0.16% | 0.03% |
| Indian Energy Exchange Limited | 0.28% | 0.03% |
| IndusInd Bank Limited | 0.03% | 0.70% |
| Tata Consumer Products Limited | 0.36% | 0.03% |
| Sagility Limited | 0.13% | 0.03% |
| Hitachi Energy India Limited | 0.10% | 0.03% |
| Suzlon Energy Limited | 0.24% | 0.03% |
| The Phoenix Mills Limited | 0.13% | 0.02% |
| L&T Finance Limited | 0.02% | 0.05% |
| ICICI Lombard General Insurance Company Limited | 0.18% | 0.02% |
| JSW Steel Limited | 0.08% | 0.02% |
| Eternal Limited | 0.03% | 0.01% |
| Alkem Laboratories Limited | 0.19% | 0.01% |
| Hero MotoCorp Limited | 0.01% | 0.07% |
| UltraTech Cement Limited | 0.08% | 0.01% |
| Colgate Palmolive (India) Limited | 0.25% | 0.01% |
| Tube Investments Of India Limited | 0.09% | 0.01% |
| Inox Wind Limited | 0.14% | 0.01% |
| Voltas Limited | 0.18% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.9% means 45.9% 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 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% |
| HDFC Bank Limited 2027 | 1.28% |
| Ambuja Cements Limited | 1.26% |
| Bank of Baroda 2027 | 0.96% |
Largest holdings only in JioBlackRock Arbitrage Fund
| Security | % of fund |
|---|---|
| JioBlackRock Money Market Fund - Direct Plan - Growth Option | 11.16% |
| HDFC Bank Ltd (18-Jan-2027) | 4.39% |
| JioBlackRock Liquid Fund - Direct Plan - Growth Option | 2.83% |
| DLF Ltd | 0.02% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Arbitrage | JioBlackRock Arbitrage |
|---|---|---|
| Equity | 79.6% | 74.1% |
| Debt | 5.8% | 8.8% |
| Cash and others | 14.6% | 17.1% |
Market cap of stocks
| Market cap | Invesco India Arbitrage | JioBlackRock Arbitrage |
|---|---|---|
| Large Cap | 53.9% | 56.6% |
| Mid Cap | 20.6% | 13.5% |
| Small Cap | 5.0% | 3.9% |
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 | Invesco India Arbitrage | JioBlackRock Arbitrage |
|---|---|---|
| Banks | 23.3% | 29.0% |
| Petroleum Products | 4.4% | 6.7% |
| Finance | 6.1% | 2.5% |
| Telecom - Services | 5.1% | 5.9% |
| Insurance | 0.9% | 3.8% |
| IT - Software | 3.6% | 2.0% |
| Pharmaceuticals & Biotechnology | 3.2% | 1.9% |
| Consumer Durables | 1.4% | 3.1% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Arbitrage vs JioBlackRock Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Arbitrage Fund | JioBlackRock Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.20% | 1.99% |
| Base expense ratio (Direct) | 0.34% | 0.28% |
| Total expense ratio (Regular) | 2.87% | 3.26% |
| Base expense ratio (Regular) | 0.91% | 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
Compare Invesco India Arbitrage with
Invesco India Arbitrage Fund vs JioBlackRock Arbitrage Fund: Frequently Asked Questions
What is the difference between Invesco India Arbitrage Fund and JioBlackRock Arbitrage Fund?
Both are Arbitrage funds, run by Invesco Mutual Fund and Jio BlackRock Mutual Fund. Their portfolios overlap 45.9%. Invesco India Arbitrage Fund charges 2.20% a year and JioBlackRock Arbitrage Fund 1.99%.
Which has the lower expense ratio, Invesco India Arbitrage Fund or JioBlackRock Arbitrage Fund?
JioBlackRock Arbitrage Fund charges less: 1.99% a year against 2.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Arbitrage Fund and JioBlackRock Arbitrage Fund overlap?
45.9%. They hold 117 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Arbitrage Fund or JioBlackRock Arbitrage Fund?
On SEBI's riskometer, Invesco India Arbitrage Fund is rated Low and JioBlackRock Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.04% and 1.50% a year.
Can I invest in both Invesco India Arbitrage Fund and JioBlackRock Arbitrage Fund?
Yes. 45.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Invesco India Arbitrage Fund and JioBlackRock Arbitrage Fund?
Invesco India Arbitrage Fund: Deepak Gupta, Pradeep Sukte. JioBlackRock Arbitrage Fund: Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R.
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.