Invesco India Arbitrage Fund vs Old Bridge Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Arbitrage Fund and Old Bridge Arbitrage Fund are both Arbitrage funds. Invesco India Arbitrage Fund charges 2.20% a year and Old Bridge Arbitrage Fund 1.09% (Direct plans). Their portfolios overlap 45.6%: they hold 91 of the same securities.
Which is better, Invesco India Arbitrage or Old Bridge Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Old Bridge Arbitrage costs less: 1.09% a year against 2.20% (Direct plans).
- Invesco India Arbitrage fell less in its worst fall since 14-11-2025: −0.4% against −0.7%.
- Old Bridge Arbitrage holds more in large companies: 64.1% of the fund in large caps against 53.9%.
- Invesco India Arbitrage is the larger fund: ₹30,396 Cr against ₹254 Cr.
- Their portfolios overlap 45.6%: 91 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 | Old Bridge Arbitrage Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Old Bridge Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹30,396 Cr (30-09-2026) | ₹254 Cr (30-09-2026) |
| NAV | ₹37.63 (Direct) | ₹10.62 (Direct) |
| Expense ratio (Direct) | 2.20% | 1.09% |
| Expense ratio (Regular) | 2.87% | 1.94% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage Index | Nifty 50 Arbitrage TRI |
| Launch date | 30-04-2007 | 13-11-2025 |
| Minimum investment | Not available | ₹5,000 |
| Lock in | None | None |
| Fund managers | Deepak Gupta, Pradeep Sukte | Kenneth Joseph Andrade |
| Exit load | Exit load of 0.50% if redeemed within 15 days | Exit load of 0.25%, if redeemed within 7 Days. |
Invesco India Arbitrage vs Old Bridge 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% |
| Old Bridge Arbitrage Fund (Direct) | +0.55% | +1.49% | +3.19% | -- | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | -- | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Invesco India Arbitrage vs Old Bridge Arbitrage: Year-wise Returns
| Year | Invesco IndiaInvesco India Arbitrage | Old BridgeOld Bridge Arbitrage |
|---|---|---|
| 2026to date | +5.60% | +5.31% |
| 2025 | +7.17% | -- |
| 2024 | +8.32% | -- |
| 2023 | +8.07% | -- |
| 2022 | +5.85% | -- |
| 2021 | +4.15% | -- |
Invesco India Arbitrage vs Old Bridge Arbitrage: Rolling Returns
Every holding period of both funds
Invesco India Arbitrage vs Old Bridge 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) | Old Bridge Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.95% | +6.43% |
| Standard deviation | 1.04% | 1.68% |
| Sharpe ratio | 0.87 | 0.71 |
| Sortino ratio | 1.29 | 1.06 |
| Maximum drawdown | −0.5% (03-06-2020) | −0.7% (29-05-2026) |
| 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)
Old Bridge 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% |
| Old Bridge Arbitrage Fund (Direct) | −0.7% | 18-05-2026 | 29-05-2026 | 04-06-2026 | 6 days | −0.1% |
From daily values since 14-11-2025, the first day every fund has.
Invesco India Arbitrage vs Old Bridge Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Arbitrage Fund, September 2026; Old Bridge Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 45.6%
- Held by both
- 91
- Only in Invesco India Arbitrage
- 103
- Only in Old Bridge Arbitrage
- 6
| Security | % of Invesco India Arbitrage | % of Old Bridge Arbitrage |
|---|---|---|
| HDFC Bank Limited | 5.58% | 4.76% |
| ICICI Bank Limited | 4.55% | 5.25% |
| Reliance Industries Limited | 3.48% | 5.43% |
| Axis Bank Limited | 2.20% | 2.36% |
| Bharti Airtel Limited | 2.16% | 3.72% |
| IDFC First Bank Limited | 1.77% | 2.23% |
| Tata Steel Limited | 1.57% | 2.44% |
| State Bank of India | 1.99% | 1.33% |
| Jio Financial Services Limited | 1.46% | 1.23% |
| Canara Bank | 1.52% | 1.18% |
| Divi's Laboratories Limited | 1.08% | 1.28% |
| Punjab National Bank | 1.03% | 1.46% |
| Power Finance Corporation Limited | 1.77% | 0.88% |
| APL Apollo Tubes Limited | 1.77% | 0.88% |
| Multi Commodity Exchange of India Limited | 1.55% | 0.82% |
| Varun Beverages Ltd | 0.80% | 0.96% |
| Coal India Limited | 1.47% | 0.79% |
| Indus Towers Limited | 0.77% | 3.73% |
| The Federal Bank Limited | 0.78% | 0.72% |
| LIC Housing Finance Limited | 0.64% | 1.11% |
| The Indian Hotels Company Limited | 0.60% | 0.83% |
| Hindustan Unilever Limited | 0.78% | 0.56% |
| Biocon Limited | 0.64% | 0.55% |
| Crompton Greaves Consumer Electricals Limited | 0.55% | 0.64% |
| Kotak Mahindra Bank Ltd | 0.52% | 0.59% |
| Bank of Baroda | 0.50% | 0.90% |
| Ambuja Cements Limited | 1.26% | 0.44% |
| Yes Bank Limited | 1.38% | 0.39% |
| Jindal Steel Limited | 0.39% | 0.48% |
| ITC Limited | 0.61% | 0.38% |
| Tata Consumer Products Limited | 0.36% | 1.30% |
| Swiggy Limited | 0.34% | 0.65% |
| Bharat Forge Limited | 0.33% | 0.49% |
| HDFC Asset Management Company Limited | 0.32% | 1.89% |
| Bajaj Finance Ltd | 0.32% | 0.48% |
| Fortis Healthcare Limited | 0.31% | 0.42% |
| NMDC Limited | 0.71% | 0.29% |
| Hindustan Aeronautics Limited | 0.28% | 1.21% |
| Union Bank of India | 0.32% | 0.27% |
| Bank of India | 0.26% | 0.51% |
| Godrej Properties Limited | 0.45% | 0.25% |
| Bharat Heavy Electricals Limited | 0.24% | 1.93% |
| NTPC Limited | 0.24% | 0.42% |
| Hindalco Industries Limited | 0.22% | 1.22% |
| Shriram Finance Limited | 0.22% | 2.97% |
| Tata Power Company Limited | 0.21% | 1.52% |
| Bharat Electronics Limited | 0.21% | 0.24% |
| UPL Limited | 0.27% | 0.20% |
| Marico Limited | 0.38% | 0.19% |
| Asian Paints Limited | 0.18% | 0.43% |
| HDFC Life Insurance Company Limited | 0.18% | 0.84% |
| Glenmark Pharmaceuticals Limited | 0.18% | 1.76% |
| Ashok Leyland Limited | 0.20% | 0.15% |
| Infosys Limited | 1.01% | 0.14% |
| Delhivery Limited | 0.31% | 0.13% |
| Larsen & Toubro Limited | 0.12% | 0.80% |
| GAIL (India) Limited | 0.12% | 0.48% |
| Pidilite Industries Limited | 0.12% | 0.20% |
| Colgate Palmolive (India) Limited | 0.25% | 0.11% |
| Info Edge India Ltd | 0.23% | 0.11% |
| Oil & Natural Gas Corporation Limited | 0.09% | 0.14% |
| The Phoenix Mills Limited | 0.13% | 0.08% |
| SRF Limited | 0.09% | 0.08% |
| JSW Steel Limited | 0.08% | 1.47% |
| UltraTech Cement Limited | 0.08% | 1.36% |
| Container Corporation of India Limited | 0.58% | 0.07% |
| Maruti Suzuki India Limited | 0.37% | 0.07% |
| Mahindra & Mahindra Limited | 0.23% | 0.07% |
| Power Grid Corporation of India Limited | 0.06% | 0.60% |
| GMR Airports Limited | 0.06% | 0.39% |
| Bajaj Finserv Limited | 0.06% | 0.80% |
| Inox Wind Limited | 0.14% | 0.05% |
| SBI Life Insurance Company Limited | 0.08% | 0.05% |
| United Spirits Limited | 0.05% | 0.09% |
| AU Small Finance Bank Limited | 0.19% | 0.04% |
| Aurobindo Pharma Limited | 0.16% | 0.04% |
| Cholamandalam Investment and Finance Company Limited | 0.13% | 0.04% |
| Sun Pharmaceutical Industries Limited | 0.04% | 0.58% |
| Grasim Industries Limited | 0.04% | 0.21% |
| Apollo Hospitals Enterprise Limited | 0.04% | 1.05% |
| Adani Ports and Special Economic Zone Limited | 0.04% | 0.07% |
| InterGlobe Aviation Limited | 0.16% | 0.03% |
| Dabur India Limited | 0.03% | 0.47% |
| CG Power and Industrial Solutions Limited | 0.03% | 0.29% |
| IndusInd Bank Limited | 0.03% | 0.25% |
| Eternal Limited | 0.03% | 0.18% |
| Indian Energy Exchange Limited | 0.28% | 0.02% |
| Bharat Petroleum Corporation Limited | 0.12% | 0.02% |
| Godrej Consumer Products Limited | 0.02% | 0.25% |
| PB Fintech Limited | 0.52% | 0.01% |
| Hero MotoCorp Limited | 0.01% | 0.09% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 45.6% means 45.6% 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% |
| Vodafone Idea Limited | 2.20% |
| Adani Power Limited | 2.11% |
| HDFC Bank Limited 2027 | 1.28% |
Largest holdings only in Old Bridge Arbitrage Fund
| Security | % of fund |
|---|---|
| 364 Days Tbill (MD 13/05/2027) | 5.70% |
| 182 Days Tbill (MD 19/11/2026) | 1.96% |
| 364 Days Tbill (MD 17/12/2026) | 1.95% |
| 182 Days Tbill (MD 04/02/2027) | 1.93% |
| DLF Limited | 0.33% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Arbitrage | Old Bridge Arbitrage |
|---|---|---|
| Equity | 79.6% | 79.4% |
| Debt | 5.8% | 11.5% |
| Cash and others | 14.6% | 9.1% |
Market cap of stocks
| Market cap | Invesco India Arbitrage | Old Bridge Arbitrage |
|---|---|---|
| Large Cap | 53.9% | 64.1% |
| Mid Cap | 20.6% | 13.3% |
| Small Cap | 5.0% | 1.9% |
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 | Old Bridge Arbitrage |
|---|---|---|
| Banks | 23.3% | 22.2% |
| Finance | 6.1% | 7.5% |
| Telecom - Services | 5.1% | 7.5% |
| Petroleum Products | 4.4% | 5.5% |
| Ferrous Metals | 2.3% | 4.4% |
| Pharmaceuticals & Biotechnology | 3.2% | 4.2% |
| IT - Software | 3.6% | 0.1% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Arbitrage vs Old Bridge Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Arbitrage Fund | Old Bridge Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.20% | 1.09% |
| Base expense ratio (Direct) | 0.34% | 0.12% |
| Total expense ratio (Regular) | 2.87% | 1.94% |
| Base expense ratio (Regular) | 0.91% | 0.84% |
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 Old Bridge Arbitrage Fund: Frequently Asked Questions
What is the difference between Invesco India Arbitrage Fund and Old Bridge Arbitrage Fund?
Both are Arbitrage funds, run by Invesco Mutual Fund and Old Bridge Mutual Fund. Their portfolios overlap 45.6%. Invesco India Arbitrage Fund charges 2.20% a year and Old Bridge Arbitrage Fund 1.09%.
Which has the lower expense ratio, Invesco India Arbitrage Fund or Old Bridge Arbitrage Fund?
Old Bridge Arbitrage Fund charges less: 1.09% a year against 2.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Arbitrage Fund and Old Bridge Arbitrage Fund overlap?
45.6%. They hold 91 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 Old Bridge Arbitrage Fund?
On SEBI's riskometer, Invesco India Arbitrage Fund is rated Low and Old Bridge Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.04% and 1.68% a year.
Can I invest in both Invesco India Arbitrage Fund and Old Bridge Arbitrage Fund?
Yes. 45.6% 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 Old Bridge Arbitrage Fund?
Invesco India Arbitrage Fund: Deepak Gupta, Pradeep Sukte. Old Bridge Arbitrage Fund: Kenneth Joseph Andrade.
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.