Invesco India Arbitrage Fund vs TRUSTMF Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Arbitrage Fund and TRUSTMF Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, Invesco India Arbitrage Fund (Direct) returned 6.9% and TRUSTMF Arbitrage Fund (Direct) returned 6.5%. Invesco India Arbitrage Fund charges 2.20% a year and TRUSTMF Arbitrage Fund 1.42% (Direct plans). Their portfolios overlap 38.0%: they hold 56 of the same securities.
Invesco India Arbitrage Fund
Arbitrage
- 1 year return
- 6.9%
- Expense ratio
- 2.20%
- NAV
- ₹37.63
TRUSTMF Arbitrage Fund
Arbitrage
- 1 year return
- 6.5%
- Expense ratio
- 1.42%
- NAV
- ₹10.76
Which is better, Invesco India Arbitrage or TRUSTMF 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 1 year: 6.9% against 6.5%.
- TRUSTMF Arbitrage costs less: 1.42% a year against 2.20% (Direct plans).
- Invesco India Arbitrage fell less in its worst fall since 01-09-2025: −0.4% against −0.4%.
- Invesco India Arbitrage is the larger fund: ₹30,396 Cr against ₹138 Cr.
- Their portfolios overlap 38.0%: 56 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 | TRUSTMF Arbitrage Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Trust Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹30,396 Cr (30-09-2026) | ₹138 Cr (30-09-2026) |
| NAV | ₹37.63 (Direct) | ₹10.76 (Direct) |
| Expense ratio (Direct) | 2.20% | 1.42% |
| Expense ratio (Regular) | 2.87% | 2.19% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage Index | Nifty 50 Arbitrage Index |
| Launch date | 30-04-2007 | 28-08-2025 |
| Minimum investment | Not available | ₹1,000 |
| Lock in | None | None |
| Fund managers | Deepak Gupta, Pradeep Sukte | Mihir Vora, Sachin Parekh |
| Exit load | Exit load of 0.50% if redeemed within 15 days | 0.25% If redeemed / switched out within 7 days from the date of allotment. Nil - if redeemed/switched out after 7 days from the date of allotment. |
Invesco India Arbitrage vs TRUSTMF 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% |
| TRUSTMF Arbitrage Fund (Direct) | +0.56% | +1.52% | +3.18% | +6.53% | -- | -- | -- |
| 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 TRUSTMF Arbitrage: Year-wise Returns
| Year | Invesco IndiaInvesco India Arbitrage | TRUSTMFTRUSTMF Arbitrage |
|---|---|---|
| 2026to date | +5.60% | +5.30% |
| 2025 | +7.17% | -- |
| 2024 | +8.32% | -- |
| 2023 | +8.07% | -- |
| 2022 | +5.85% | -- |
| 2021 | +4.15% | -- |
Invesco India Arbitrage vs TRUSTMF Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 39 of them, one for each trading day from 01-09-2026 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)
TRUSTMF Arbitrage Fund (Direct)
to
Sept 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 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 | 6.9% | 6.9% | 6.5% | 7.1% |
| TRUSTMF Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.5% | 6.2% | 6.7% |
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 01-09-2025. Past returns do not promise future returns.
Invesco India Arbitrage vs TRUSTMF 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 01-09-2025 to 30-10-2026: 14 instalments, ₹1,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Invesco India ArbitrageInvesco India Arbitrage Fund (Direct) | ₹1,40,000 | ₹1,45,835 | ₹5,835 | 6.8% |
| TRUSTMF ArbitrageTRUSTMF Arbitrage Fund (Direct) | ₹1,40,000 | ₹1,45,491 | ₹5,491 | 6.4% |
Invesco India ArbitrageInvesco India Arbitrage Fund (Direct)
TRUSTMF ArbitrageTRUSTMF 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 TRUSTMF 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) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.88% | +6.53% |
| Standard deviation | 1.35% | 1.41% |
| Sharpe ratio | 1.21 | 0.91 |
| Sortino ratio | 1.82 | 1.37 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.4% (17-08-2026) |
| 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) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.95% | +6.47% |
| Standard deviation | 1.04% | 1.33% |
| Sharpe ratio | 0.87 | 0.89 |
| Sortino ratio | 1.29 | 1.34 |
| Maximum drawdown | −0.5% (03-06-2020) | −0.4% (17-08-2026) |
| 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)
TRUSTMF 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% |
| TRUSTMF Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 17-08-2026 | 24-08-2026 | 7 days | −0.1% |
From daily values since 01-09-2025, 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)
TRUSTMF Arbitrage Fund (Direct)
Invesco India Arbitrage vs TRUSTMF Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Arbitrage Fund, September 2026; TRUSTMF Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 38.0%
- Held by both
- 56
- Only in Invesco India Arbitrage
- 138
- Only in TRUSTMF Arbitrage
- 1
| Security | % of Invesco India Arbitrage | % of TRUSTMF Arbitrage |
|---|---|---|
| ICICI Bank Limited | 4.55% | 4.09% |
| HDFC Bank Limited | 5.58% | 4.08% |
| Reliance Industries Limited | 3.48% | 3.83% |
| Axis Bank Limited | 2.20% | 5.61% |
| Vodafone Idea Limited | 2.20% | 2.55% |
| Bharti Airtel Limited | 2.16% | 3.15% |
| Tata Steel Limited | 1.57% | 2.28% |
| Canara Bank | 1.52% | 6.38% |
| State Bank of India | 1.99% | 1.51% |
| Yes Bank Limited | 1.38% | 1.75% |
| Punjab National Bank | 1.03% | 1.31% |
| Ambuja Cements Limited | 1.26% | 0.91% |
| IDFC First Bank Limited | 1.77% | 0.82% |
| Indus Towers Limited | 0.77% | 2.53% |
| ITC Limited | 0.61% | 1.25% |
| Varun Beverages Ltd | 0.80% | 0.60% |
| The Indian Hotels Company Limited | 0.60% | 0.95% |
| Crompton Greaves Consumer Electricals Limited | 0.55% | 0.52% |
| Kotak Mahindra Bank Ltd | 0.52% | 0.85% |
| Bank of Baroda | 0.50% | 0.64% |
| Cummins India Limited | 0.77% | 0.48% |
| Manappuram Finance Limited | 0.53% | 0.48% |
| Patanjali Foods Limited | 0.48% | 0.79% |
| LIC Housing Finance Limited | 0.64% | 0.46% |
| Maruti Suzuki India Limited | 0.37% | 3.95% |
| HDFC Asset Management Company Limited | 0.32% | 0.65% |
| Bajaj Finance Ltd | 0.32% | 2.61% |
| Astral Limited | 0.28% | 1.73% |
| Indian Energy Exchange Limited | 0.28% | 1.49% |
| Bandhan Bank Limited | 0.25% | 1.91% |
| Mahindra & Mahindra Limited | 0.23% | 1.07% |
| Info Edge India Ltd | 0.23% | 0.44% |
| Hindalco Industries Limited | 0.22% | 0.38% |
| Power Finance Corporation Limited | 1.77% | 0.21% |
| Adani Energy Solutions Limited | 0.21% | 0.97% |
| Eicher Motors Limited | 0.19% | 0.62% |
| Asian Paints Limited | 0.18% | 0.35% |
| HDFC Life Insurance Company Limited | 0.18% | 0.46% |
| Glenmark Pharmaceuticals Limited | 0.18% | 0.64% |
| InterGlobe Aviation Limited | 0.16% | 0.38% |
| Titan Company Limited | 0.14% | 0.47% |
| Inox Wind Limited | 0.14% | 0.13% |
| Cholamandalam Investment and Finance Company Limited | 0.13% | 0.66% |
| Nestle India Limited | 0.13% | 1.57% |
| Larsen & Toubro Limited | 0.12% | 2.20% |
| Kalyan Jewellers India Limited | 0.11% | 2.93% |
| UltraTech Cement Limited | 0.08% | 0.83% |
| SBI Cards and Payment Services Limited | 0.10% | 0.07% |
| Indian Oil Corporation Limited | 0.60% | 0.05% |
| The Phoenix Mills Limited | 0.13% | 0.05% |
| Power Grid Corporation of India Limited | 0.06% | 0.04% |
| Sun Pharmaceutical Industries Limited | 0.04% | 0.23% |
| Apollo Hospitals Enterprise Limited | 0.04% | 1.33% |
| Adani Ports and Special Economic Zone Limited | 0.04% | 0.12% |
| IndusInd Bank Limited | 0.03% | 0.55% |
| Eternal Limited | 0.03% | 0.11% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.0% means 38.0% 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% |
| APL Apollo Tubes Limited | 1.77% |
| Multi Commodity Exchange of India Limited | 1.55% |
Largest holdings only in TRUSTMF Arbitrage Fund
| Security | % of fund |
|---|---|
| TRUSTMF Liquid Fund-Direct Plan-Growth | 18.59% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Arbitrage | TRUSTMF Arbitrage |
|---|---|---|
| Equity | 79.6% | 77.0% |
| Debt | 5.8% | 0.0% |
| Cash and others | 14.6% | 23.0% |
Market cap of stocks
| Market cap | Invesco India Arbitrage | TRUSTMF Arbitrage |
|---|---|---|
| Large Cap | 53.9% | 61.3% |
| Mid Cap | 20.6% | 10.7% |
| Small Cap | 5.0% | 5.0% |
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 | TRUSTMF Arbitrage |
|---|---|---|
| Banks | 23.3% | 29.5% |
| Telecom - Services | 5.1% | 8.2% |
| Finance | 6.1% | 4.5% |
| Automobiles | 1.9% | 5.6% |
| Petroleum Products | 4.4% | 3.9% |
| Consumer Durables | 1.4% | 4.3% |
| IT - Software | 3.6% | 0.0% |
| Pharmaceuticals & Biotechnology | 3.2% | 0.9% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Arbitrage vs TRUSTMF Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Arbitrage Fund | TRUSTMF Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.20% | 1.42% |
| Base expense ratio (Direct) | 0.34% | 0.17% |
| Total expense ratio (Regular) | 2.87% | 2.19% |
| Base expense ratio (Regular) | 0.91% | 0.85% |
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 TRUSTMF Arbitrage Fund: Frequently Asked Questions
What is the difference between Invesco India Arbitrage Fund and TRUSTMF Arbitrage Fund?
Both are Arbitrage funds, run by Invesco Mutual Fund and Trust Mutual Fund. Their portfolios overlap 38.0%. Invesco India Arbitrage Fund charges 2.20% a year and TRUSTMF Arbitrage Fund 1.42%.
Which has given higher returns, Invesco India Arbitrage Fund or TRUSTMF Arbitrage Fund?
Over 1 year: Invesco India Arbitrage Fund +6.88%, TRUSTMF Arbitrage Fund +6.53%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Arbitrage Fund or TRUSTMF Arbitrage Fund?
TRUSTMF Arbitrage Fund charges less: 1.42% a year against 2.20%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Arbitrage Fund and TRUSTMF Arbitrage Fund overlap?
38.0%. They hold 56 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Arbitrage Fund or TRUSTMF Arbitrage Fund?
On SEBI's riskometer, Invesco India Arbitrage Fund is rated Low and TRUSTMF Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 1.35% and 1.41% a year.
Can I invest in both Invesco India Arbitrage Fund and TRUSTMF Arbitrage Fund?
Yes. 38.0% 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 TRUSTMF Arbitrage Fund?
Invesco India Arbitrage Fund: Deepak Gupta, Pradeep Sukte. TRUSTMF Arbitrage Fund: Mihir Vora, Sachin Parekh.
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.