Invesco India Arbitrage Fund vs Sundaram Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Arbitrage Fund and Sundaram Arbitrage Fund are both Arbitrage funds. In the 3 years to 30-10-2026, Invesco India Arbitrage Fund (Direct) returned 7.5% a year and Sundaram Arbitrage Fund (Direct) returned 7.2% a year. Invesco India Arbitrage Fund charges 2.20% a year and Sundaram Arbitrage Fund 0.97% (Direct plans). Their portfolios overlap 28.3%: they hold 45 of the same securities.
Invesco India Arbitrage Fund
Arbitrage
- 3 year return
- 7.5%
- Expense ratio
- 2.20%
- NAV
- ₹37.63
Sundaram Arbitrage Fund
Arbitrage
- 3 year return
- 7.2%
- Expense ratio
- 0.97%
- NAV
- ₹16.60
Which is better, Invesco India Arbitrage or Sundaram Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Invesco India Arbitrage returned more over 3 years: 7.5% a year against 7.2%.
- Invesco India Arbitrage returned more over 1 year: 6.9% against 6.8%.
- Sundaram Arbitrage costs less: 0.97% a year against 2.20% (Direct plans).
- Invesco India Arbitrage swung less over 3 years: a standard deviation of 1.1% a year against 1.2%.
- Invesco India Arbitrage fell less in its worst fall since 03-01-2022: −0.4% against −0.5%.
- Invesco India Arbitrage is the larger fund: ₹30,396 Cr against ₹539 Cr.
- Their portfolios overlap 28.3%: 45 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 | Sundaram Arbitrage Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Sundaram Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹30,396 Cr (30-09-2026) | ₹539 Cr (30-09-2026) |
| NAV | ₹37.63 (Direct) | ₹16.60 (Direct) |
| Expense ratio (Direct) | 2.20% | 0.97% |
| Expense ratio (Regular) | 2.87% | 1.70% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage Index | Nifty 50 Arbitrage Index |
| Launch date | 30-04-2007 | 01-04-2016 |
| Minimum investment | Not available | "New Investor/Existing – Rs.100/- for both Monthly IDCW and Growth Option and any amount thereafter under each Plan/ option." |
| Lock in | None | None |
| Fund managers | Deepak Gupta, Pradeep Sukte | Rohit Seksaria, Kumaresh Ramakrishnan |
| Exit load | Exit load of 0.50% if redeemed within 15 days | W.E.F Dec 31, 2021 Upto 25% of Units purchased/ switchin - NIL In excess of the above: 0.25% if redeemed/ SWP/STP within 15 days from the date of allotment. NIL if redeemed /SWP/STP after 15 days from the date of allotment. For redemption or withdrawal by way of SWP after 365 days from the date of allotment - Nil.Generally, the exit load will be calculated on First in First out (FIFO) basis. |
Invesco India Arbitrage vs Sundaram 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% |
| Sundaram Arbitrage Fund (Direct) | +0.59% | +1.56% | +3.29% | +6.83% | +7.22% | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Invesco India Arbitrage vs Sundaram Arbitrage: Year-wise Returns
| Year | Invesco IndiaInvesco India Arbitrage | SundaramSundaram Arbitrage |
|---|---|---|
| 2026to date | +5.60% | +5.57% |
| 2025 | +7.17% | +7.15% |
| 2024 | +8.32% | +7.81% |
| 2023 | +8.07% | +7.38% |
| 2022 | +5.85% | -- |
| 2021 | +4.15% | -- |
Invesco India Arbitrage vs Sundaram Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 449 of them, one for each trading day from 03-01-2025 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)
Sundaram Arbitrage Fund (Direct)
to
Feb 2025Jun 2022
to
Jun 2025Oct 2022
to
Oct 2025Jan 2023
to
Jan 2026May 2023
to
May 2026Sept 2023
to
Sept 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 | 7.7% | 7.7% | 7.3% | 8.0% |
| Sundaram Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.3% | 7.4% | 6.5% | 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 03-01-2022. Past returns do not promise future returns.
Invesco India Arbitrage vs Sundaram 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 03-01-2022 to 30-10-2026: 58 instalments, ₹5,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India ArbitrageInvesco India Arbitrage Fund (Direct) | ₹5,80,000 | ₹6,93,619 | ₹1,13,619 | 7.4% |
| Sundaram ArbitrageSundaram Arbitrage Fund (Direct) | ₹5,80,000 | ₹6,88,780 | ₹1,08,780 | 7.1% |
Invesco India ArbitrageInvesco India Arbitrage Fund (Direct)
Sundaram ArbitrageSundaram 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 Sundaram 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) | Sundaram Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.88% | +6.83% |
| Standard deviation | 1.35% | 1.59% |
| Sharpe ratio | 1.21 | 1.00 |
| Sortino ratio | 1.82 | 1.55 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.5% (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) | Sundaram Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.46% | +7.22% |
| Standard deviation | 1.09% | 1.19% |
| Sharpe ratio | 1.32 | 1.01 |
| Sortino ratio | 2.01 | 1.55 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.5% (06-08-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 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) | Sundaram Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.95% | +6.67% |
| Standard deviation | 1.04% | 1.09% |
| Sharpe ratio | 0.87 | 0.72 |
| Sortino ratio | 1.29 | 1.09 |
| Maximum drawdown | −0.5% (03-06-2020) | −0.5% (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)
Sundaram 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% |
| Sundaram Arbitrage Fund (Direct) | −0.5% | 03-08-2026 | 06-08-2026 | 01-09-2026 | 26 days | −0.0% |
From daily values since 03-01-2022, 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)
Sundaram Arbitrage Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Invesco India Arbitrage Fund (Direct)
Sundaram Arbitrage Fund (Direct)
Invesco India Arbitrage vs Sundaram Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Arbitrage Fund, September 2026; Sundaram Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 28.3%
- Held by both
- 45
- Only in Invesco India Arbitrage
- 149
- Only in Sundaram Arbitrage
- 11
| Security | % of Invesco India Arbitrage | % of Sundaram Arbitrage |
|---|---|---|
| HDFC Bank Limited | 5.58% | 7.96% |
| ICICI Bank Limited | 4.55% | 5.27% |
| Reliance Industries Limited | 3.48% | 7.56% |
| Axis Bank Limited | 2.20% | 2.87% |
| Bharti Airtel Limited | 2.16% | 4.42% |
| NMDC Limited | 0.71% | 2.80% |
| Power Finance Corporation Limited | 1.77% | 0.70% |
| Tata Steel Limited | 1.57% | 0.70% |
| ITC Limited | 0.61% | 1.84% |
| The Indian Hotels Company Limited | 0.60% | 0.78% |
| Kotak Mahindra Bank Ltd | 0.52% | 1.21% |
| Jio Financial Services Limited | 1.46% | 0.49% |
| Bank of Baroda | 0.50% | 0.44% |
| Marico Limited | 0.38% | 1.17% |
| RBL Bank Limited | 0.38% | 0.36% |
| Swiggy Limited | 0.34% | 0.69% |
| Tech Mahindra Limited | 0.34% | 0.56% |
| Divi's Laboratories Limited | 1.08% | 0.33% |
| Bajaj Finance Ltd | 0.32% | 6.16% |
| Fortis Healthcare Limited | 0.31% | 0.33% |
| Astral Limited | 0.28% | 0.35% |
| UPL Limited | 0.27% | 2.20% |
| Bandhan Bank Limited | 0.25% | 0.42% |
| Maruti Suzuki India Limited | 0.37% | 0.23% |
| Mahindra & Mahindra Limited | 0.23% | 1.40% |
| TVS Motor Company Limited | 0.23% | 1.84% |
| Hindalco Industries Limited | 0.22% | 1.42% |
| Ashok Leyland Limited | 0.20% | 6.28% |
| One 97 Communications Limited | 0.20% | 0.68% |
| Coal India Limited | 1.47% | 0.19% |
| ICICI Lombard General Insurance Company Limited | 0.18% | 0.78% |
| Ambuja Cements Limited | 1.26% | 0.14% |
| Larsen & Toubro Limited | 0.12% | 2.46% |
| Adani Green Energy Limited | 0.11% | 0.20% |
| KPIT Technologies Limited | 0.09% | 0.29% |
| Adani Ports and Special Economic Zone Limited | 0.04% | 0.40% |
| Dabur India Limited | 0.03% | 0.18% |
| Cipla Limited | 0.03% | 0.06% |
| Eternal Limited | 0.03% | 1.38% |
| Bharat Electronics Limited | 0.21% | 0.02% |
| Max Financial Services Limited | 0.02% | 0.36% |
| Angel One Limited | 0.02% | 0.36% |
| Indian Energy Exchange Limited | 0.28% | 0.02% |
| Amber Enterprises India Limited | 0.01% | 0.17% |
| Lodha Developers Limited | 0.01% | 0.36% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.3% means 28.3% 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% |
| Vodafone Idea Limited | 2.20% |
| Adani Power Limited | 2.11% |
| State Bank of India | 1.99% |
Largest holdings only in Sundaram Arbitrage Fund
| Security | % of fund |
|---|---|
| Sundaram Money Market Fund-Direct Plan - Growth | 9.58% |
| Sundaram Liquid Fund - Direct Growth | 5.61% |
| 364 Days - T Bill - 25/02/2027 | 5.44% |
| 7.38% Central Government Securities 20/06/2027 | 1.87% |
| 360 ONE WAM Ltd (Prev IIFL Wealth Management Ltd) - 21/01/2027 | 1.81% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Arbitrage | Sundaram Arbitrage |
|---|---|---|
| Equity | 79.6% | 70.0% |
| Debt | 5.8% | 11.8% |
| Cash and others | 14.6% | 18.1% |
Market cap of stocks
| Market cap | Invesco India Arbitrage | Sundaram Arbitrage |
|---|---|---|
| Large Cap | 53.9% | 50.3% |
| Mid Cap | 20.6% | 17.7% |
| Small Cap | 5.0% | 2.1% |
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 | Invesco India Arbitrage | Sundaram Arbitrage |
|---|---|---|
| Banks | 23.3% | 18.5% |
| Petroleum Products | 4.4% | 7.6% |
| Finance | 6.1% | 7.3% |
| Agricultural, Commercial & Construction Vehicles | 0.2% | 6.3% |
| Telecom - Services | 5.1% | 4.4% |
| Automobiles | 1.9% | 3.8% |
| IT - Software | 3.6% | 0.0% |
| Pharmaceuticals & Biotechnology | 3.2% | 0.4% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Arbitrage vs Sundaram Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Arbitrage Fund | Sundaram Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.20% | 0.97% |
| Base expense ratio (Direct) | 0.34% | 0.19% |
| Total expense ratio (Regular) | 2.87% | 1.70% |
| Base expense ratio (Regular) | 0.91% | 0.82% |
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 Sundaram Arbitrage Fund: Frequently Asked Questions
What is the difference between Invesco India Arbitrage Fund and Sundaram Arbitrage Fund?
Both are Arbitrage funds, run by Invesco Mutual Fund and Sundaram Mutual Fund. Their portfolios overlap 28.3%. Invesco India Arbitrage Fund charges 2.20% a year and Sundaram Arbitrage Fund 0.97%.
Which has given higher returns, Invesco India Arbitrage Fund or Sundaram Arbitrage Fund?
Over 1 year: Invesco India Arbitrage Fund +6.88%, Sundaram Arbitrage Fund +6.83%. Over 3 years: Invesco India Arbitrage Fund +7.46% a year, Sundaram Arbitrage Fund +7.22% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Arbitrage Fund or Sundaram Arbitrage Fund?
Sundaram Arbitrage Fund charges less: 0.97% a year against 2.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Arbitrage Fund and Sundaram Arbitrage Fund overlap?
28.3%. They hold 45 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 Sundaram Arbitrage Fund?
On SEBI's riskometer, Invesco India Arbitrage Fund is rated Low and Sundaram Arbitrage Fund Low. Over 3 years, the standard deviation of daily returns was 1.09% and 1.19% a year.
Which is better for SIP, Invesco India Arbitrage Fund or Sundaram Arbitrage Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,13,168 in Invesco India Arbitrage Fund (XIRR 7.1% a year) and ₹4,12,372 in Sundaram Arbitrage Fund (XIRR 7.0% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Invesco India Arbitrage Fund and Sundaram Arbitrage Fund?
Yes. 28.3% 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 Sundaram Arbitrage Fund?
Invesco India Arbitrage Fund: Deepak Gupta, Pradeep Sukte. Sundaram Arbitrage Fund: Rohit Seksaria, Kumaresh Ramakrishnan.
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.