Invesco India Arbitrage Fund vs Motilal Oswal Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Arbitrage Fund and Motilal Oswal Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, Invesco India Arbitrage Fund (Direct) returned 6.9% and Motilal Oswal Arbitrage Fund (Direct) returned 7.0%. Invesco India Arbitrage Fund charges 2.20% a year and Motilal Oswal Arbitrage Fund 0.99% (Direct plans). Their portfolios overlap 34.3%: they hold 115 of the same securities.
Invesco India Arbitrage Fund
Arbitrage
- 1 year return
- 6.9%
- Expense ratio
- 2.20%
- NAV
- ₹37.63
Motilal Oswal Arbitrage Fund
Arbitrage
- 1 year return
- 7.0%
- Expense ratio
- 0.99%
- NAV
- ₹11.37
Which is better, Invesco India Arbitrage or Motilal Oswal Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Motilal Oswal Arbitrage returned more over 1 year: 7.0% against 6.9%.
- Motilal Oswal Arbitrage costs less: 0.99% a year against 2.20% (Direct plans).
- Motilal Oswal Arbitrage fell less in its worst fall since 27-12-2024: −0.4% against −0.4%.
- Invesco India Arbitrage is the larger fund: ₹30,396 Cr against ₹3,434 Cr.
- Their portfolios overlap 34.3%: 115 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 | Motilal Oswal Arbitrage Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Motilal Oswal Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹30,396 Cr (30-09-2026) | ₹3,434 Cr (30-09-2026) |
| NAV | ₹37.63 (Direct) | ₹11.37 (Direct) |
| Expense ratio (Direct) | 2.20% | 0.99% |
| Expense ratio (Regular) | 2.87% | 1.98% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage Index | Nifty 50 Arbitrage TRI |
| Launch date | 30-04-2007 | 23-12-2024 |
| Minimum investment | Not available | ₹500 |
| Lock in | None | None |
| Fund managers | Deepak Gupta, Pradeep Sukte | Vishal Ashar, Atul Mehra, Rakesh Shetty |
| Exit load | Exit load of 0.50% if redeemed within 15 days | 0.25% - If redeemed within 30 days from the day of allotment. Nil - If redeemed after 30 days from the date of allotment. |
Invesco India Arbitrage vs Motilal Oswal 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% |
| Motilal Oswal Arbitrage Fund (Direct) | +0.48% | +1.54% | +3.30% | +6.98% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Invesco India Arbitrage vs Motilal Oswal Arbitrage: Year-wise Returns
| Year | Invesco IndiaInvesco India Arbitrage | Motilal OswalMotilal Oswal Arbitrage |
|---|---|---|
| 2026to date | +5.60% | +5.62% |
| 2025 | +7.17% | +7.46% |
| 2024 | +8.32% | -- |
| 2023 | +8.07% | -- |
| 2022 | +5.85% | -- |
| 2021 | +4.15% | -- |
Invesco India Arbitrage vs Motilal Oswal Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 206 of them, one for each trading day from 29-12-2025 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.
Invesco India Arbitrage Fund (Direct)
Motilal Oswal Arbitrage Fund (Direct)
to
Jan 2026Mar 2025
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.8% | 6.8% | 6.3% | 7.2% |
| Motilal Oswal Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.2% | 7.2% | 6.7% | 7.6% |
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. Every fund is measured over the days all of them have, from 27-12-2024. Past returns do not promise future returns.
Invesco India Arbitrage vs Motilal Oswal 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 02-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India ArbitrageInvesco India Arbitrage Fund (Direct) | ₹2,30,000 | ₹2,45,768 | ₹15,768 | 6.8% |
| Motilal Oswal ArbitrageMotilal Oswal Arbitrage Fund (Direct) | ₹2,30,000 | ₹2,45,995 | ₹15,995 | 6.9% |
Invesco India ArbitrageInvesco India Arbitrage Fund (Direct)
Motilal Oswal ArbitrageMotilal Oswal 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.
Invesco India Arbitrage vs Motilal Oswal 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) | Motilal Oswal Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.88% | +6.98% |
| Standard deviation | 1.35% | 1.39% |
| Sharpe ratio | 1.21 | 1.24 |
| Sortino ratio | 1.82 | 1.88 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.4% (06-08-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
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 | Invesco India Arbitrage Fund (Direct) | Motilal Oswal Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.95% | +7.14% |
| Standard deviation | 1.04% | 1.16% |
| Sharpe ratio | 0.87 | 1.37 |
| Sortino ratio | 1.29 | 2.08 |
| 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)
Motilal Oswal 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% |
| Motilal Oswal Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | −0.0% |
From daily values since 27-12-2024, 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.
Invesco India Arbitrage Fund (Direct)
Motilal Oswal Arbitrage Fund (Direct)
Invesco India Arbitrage vs Motilal Oswal Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Arbitrage Fund, September 2026; Motilal Oswal Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 34.3%
- Held by both
- 115
- Only in Invesco India Arbitrage
- 79
- Only in Motilal Oswal Arbitrage
- 23
| Security | % of Invesco India Arbitrage | % of Motilal Oswal Arbitrage |
|---|---|---|
| HDFC Bank Limited | 5.58% | 5.41% |
| Reliance Industries Limited | 3.48% | 4.58% |
| ICICI Bank Limited | 4.55% | 2.28% |
| Axis Bank Limited | 2.20% | 2.53% |
| Bharti Airtel Limited | 2.16% | 3.63% |
| Vodafone Idea Limited | 2.20% | 1.34% |
| State Bank of India | 1.99% | 1.11% |
| Jio Financial Services Limited | 1.46% | 0.68% |
| Kotak Mahindra Bank Ltd | 0.52% | 2.39% |
| ITC Limited | 0.61% | 0.50% |
| PNB Housing Finance Limited | 0.39% | 0.63% |
| RBL Bank Limited | 0.38% | 0.77% |
| Maruti Suzuki India Limited | 0.37% | 1.73% |
| Tata Steel Limited | 1.57% | 0.35% |
| Yes Bank Limited | 1.38% | 0.34% |
| Indus Towers Limited | 0.77% | 0.34% |
| HDFC Bank Limited 2027 | 0.32% | 0.71% |
| Bajaj Finance Ltd | 0.32% | 1.72% |
| Adani Enterprises Limited | 0.32% | 1.11% |
| Infosys Limited | 1.01% | 0.30% |
| Samvardhana Motherson International Limited | 0.30% | 0.88% |
| Patanjali Foods Limited | 0.48% | 0.28% |
| PG Electroplast Limited | 0.28% | 0.54% |
| Cummins India Limited | 0.77% | 0.26% |
| NMDC Limited | 0.71% | 0.26% |
| Swiggy Limited | 0.34% | 0.26% |
| Divi's Laboratories Limited | 1.08% | 0.25% |
| Bank of Baroda | 0.50% | 0.25% |
| Multi Commodity Exchange of India Limited | 1.55% | 0.24% |
| Suzlon Energy Limited | 0.24% | 0.37% |
| Bharat Heavy Electricals Limited | 0.24% | 0.52% |
| Jindal Steel Limited | 0.39% | 0.23% |
| Mahindra & Mahindra Limited | 0.23% | 1.53% |
| TVS Motor Company Limited | 0.23% | 3.37% |
| Steel Authority of India Limited | 0.22% | 1.23% |
| Shriram Finance Limited | 0.22% | 0.69% |
| Bharat Electronics Limited | 0.21% | 0.53% |
| Muthoot Finance Limited | 0.21% | 0.27% |
| Ashok Leyland Limited | 0.20% | 0.97% |
| One 97 Communications Limited | 0.20% | 1.10% |
| Hindustan Unilever Limited | 0.78% | 0.19% |
| Eicher Motors Limited | 0.19% | 0.21% |
| Central Depository Services (India) Limited | 0.19% | 0.40% |
| AU Small Finance Bank Limited | 0.19% | 3.07% |
| Asian Paints Limited | 0.18% | 0.18% |
| HDFC Life Insurance Company Limited | 0.18% | 0.57% |
| Godrej Properties Limited | 0.45% | 0.17% |
| Marico Limited | 0.38% | 0.17% |
| Aditya Birla Capital Limited | 0.17% | 2.15% |
| Canara Bank | 1.52% | 0.16% |
| Vedanta Limited | 0.18% | 0.16% |
| InterGlobe Aviation Limited | 0.16% | 1.74% |
| LIC Housing Finance Limited | 0.64% | 0.15% |
| Crompton Greaves Consumer Electricals Limited | 0.55% | 0.15% |
| IDFC First Bank Limited | 1.77% | 0.14% |
| Life Insurance Corporation Of India | 0.43% | 0.14% |
| Hindustan Aeronautics Limited | 0.28% | 0.14% |
| Inox Wind Limited | 0.14% | 0.87% |
| Tata Consultancy Services Limited | 0.67% | 0.13% |
| Bajaj Auto Limited | 0.31% | 0.13% |
| Cholamandalam Investment and Finance Company Limited | 0.13% | 3.49% |
| Bandhan Bank Limited | 0.25% | 0.12% |
| Larsen & Toubro Limited | 0.12% | 1.19% |
| Supreme Industries Limited | 0.12% | 0.33% |
| The Federal Bank Limited | 0.78% | 0.11% |
| Kalyan Jewellers India Limited | 0.11% | 0.39% |
| Adani Green Energy Limited | 0.11% | 0.29% |
| Ambuja Cements Limited | 1.26% | 0.10% |
| Biocon Limited | 0.64% | 0.10% |
| HDFC Asset Management Company Limited | 0.32% | 0.10% |
| Aurobindo Pharma Limited | 0.16% | 0.10% |
| SBI Cards and Payment Services Limited | 0.10% | 0.27% |
| Pidilite Industries Limited | 0.12% | 0.09% |
| NBCC (India) Limited | 0.09% | 0.09% |
| The Indian Hotels Company Limited | 0.60% | 0.08% |
| Coforge Limited | 0.46% | 0.08% |
| Lupin Limited | 0.30% | 0.08% |
| Hindalco Industries Limited | 0.22% | 0.08% |
| JSW Steel Limited | 0.08% | 0.31% |
| UltraTech Cement Limited | 0.08% | 0.16% |
| Varun Beverages Ltd | 0.80% | 0.07% |
| Indian Energy Exchange Limited | 0.28% | 0.07% |
| Info Edge India Ltd | 0.23% | 0.07% |
| APL Apollo Tubes Limited | 1.77% | 0.06% |
| SBI Life Insurance Company Limited | 0.08% | 0.06% |
| Bajaj Finserv Limited | 0.06% | 0.43% |
| Tata Motors Passenger Vehicles Limited | 0.55% | 0.05% |
| GAIL (India) Limited | 0.12% | 0.05% |
| Adani Energy Solutions Limited | 0.21% | 0.04% |
| Sun Pharmaceutical Industries Limited | 0.04% | 0.74% |
| Grasim Industries Limited | 0.04% | 0.29% |
| Apollo Hospitals Enterprise Limited | 0.04% | 0.15% |
| Adani Ports and Special Economic Zone Limited | 0.04% | 0.10% |
| Tata Consumer Products Limited | 0.36% | 0.03% |
| Bharat Forge Limited | 0.33% | 0.03% |
| Bharat Petroleum Corporation Limited | 0.12% | 0.03% |
| Oil & Natural Gas Corporation Limited | 0.09% | 0.03% |
| Cipla Limited | 0.03% | 0.32% |
| CG Power and Industrial Solutions Limited | 0.03% | 2.37% |
| IndusInd Bank Limited | 0.03% | 0.75% |
| Eternal Limited | 0.03% | 0.43% |
| Hindustan Petroleum Corporation Limited | 0.21% | 0.02% |
| Alkem Laboratories Limited | 0.19% | 0.02% |
| Tube Investments Of India Limited | 0.09% | 0.02% |
| Zydus Lifesciences Limited | 0.02% | 0.06% |
| Max Financial Services Limited | 0.02% | 0.05% |
| Polycab India Limited | 0.02% | 0.04% |
| Angel One Limited | 0.02% | 0.36% |
| NTPC Limited | 0.24% | 0.01% |
| Glenmark Pharmaceuticals Limited | 0.18% | 0.01% |
| Titan Company Limited | 0.14% | 0.01% |
| Radico Khaitan Limited | 0.13% | 0.01% |
| United Spirits Limited | 0.05% | 0.01% |
| Dabur India Limited | 0.03% | 0.01% |
| Hero MotoCorp Limited | 0.01% | 0.07% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.3% means 34.3% 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% |
| Adani Power Limited | 2.11% |
| Power Finance Corporation Limited | 1.77% |
| Coal India Limited | 1.47% |
Largest holdings only in Motilal Oswal Arbitrage Fund
| Security | % of fund |
|---|---|
| Motilal Oswal Liquid Fund - Direct Growth | 7.13% |
| Motilal Oswal Ultra Short Term Fund (MOFUSTF) -Direct Plan- Growth | 2.07% |
| 5.74% Government of India 2026 | 0.73% |
| 364 Days Tbill (MD 23/10/2026) | 0.73% |
| Bank of Baroda 2026 | 0.72% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Arbitrage | Motilal Oswal Arbitrage |
|---|---|---|
| Equity | 79.6% | 71.3% |
| Debt | 5.8% | 14.3% |
| Cash and others | 14.6% | 14.4% |
Market cap of stocks
| Market cap | Invesco India Arbitrage | Motilal Oswal Arbitrage |
|---|---|---|
| Large Cap | 53.9% | 53.6% |
| Mid Cap | 20.6% | 13.5% |
| Small Cap | 5.0% | 4.2% |
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 | Motilal Oswal Arbitrage |
|---|---|---|
| Banks | 23.3% | 19.4% |
| Finance | 6.1% | 10.5% |
| Automobiles | 1.9% | 7.1% |
| Telecom - Services | 5.1% | 5.3% |
| Petroleum Products | 4.4% | 4.6% |
| Electrical Equipment | 1.4% | 4.2% |
| IT - Software | 3.6% | 0.5% |
| Pharmaceuticals & Biotechnology | 3.2% | 1.7% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Arbitrage vs Motilal Oswal Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Arbitrage Fund | Motilal Oswal Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.20% | 0.99% |
| Base expense ratio (Direct) | 0.34% | 0.10% |
| Total expense ratio (Regular) | 2.87% | 1.98% |
| Base expense ratio (Regular) | 0.91% | 1.00% |
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 Motilal Oswal Arbitrage Fund: Frequently Asked Questions
What is the difference between Invesco India Arbitrage Fund and Motilal Oswal Arbitrage Fund?
Both are Arbitrage funds, run by Invesco Mutual Fund and Motilal Oswal Mutual Fund. Their portfolios overlap 34.3%. Invesco India Arbitrage Fund charges 2.20% a year and Motilal Oswal Arbitrage Fund 0.99%.
Which has given higher returns, Invesco India Arbitrage Fund or Motilal Oswal Arbitrage Fund?
Over 1 year: Invesco India Arbitrage Fund +6.88%, Motilal Oswal Arbitrage Fund +6.98%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Arbitrage Fund or Motilal Oswal Arbitrage Fund?
Motilal Oswal Arbitrage Fund charges less: 0.99% a year against 2.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Arbitrage Fund and Motilal Oswal Arbitrage Fund overlap?
34.3%. They hold 115 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Arbitrage Fund or Motilal Oswal Arbitrage Fund?
On SEBI's riskometer, Invesco India Arbitrage Fund is rated Low and Motilal Oswal Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 1.35% and 1.39% a year.
Can I invest in both Invesco India Arbitrage Fund and Motilal Oswal Arbitrage Fund?
Yes. 34.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Invesco India Arbitrage Fund and Motilal Oswal Arbitrage Fund?
Invesco India Arbitrage Fund: Deepak Gupta, Pradeep Sukte. Motilal Oswal Arbitrage Fund: Vishal Ashar, Atul Mehra, Rakesh Shetty.
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.