ITI Arbitrage Fund vs UTI - BSE Sensex Next 50 Exchange Traded Fund
Direct Plan, Growth option · Data as on 30-10-2026
ITI Arbitrage Fund is an Arbitrage fund and UTI - BSE Sensex Next 50 Exchange Traded Fund is an Index fund. In the 3 years to 30-10-2026, ITI Arbitrage Fund (Direct) returned 7.3% a year and UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct) returned 14.7% a year. Their portfolios overlap 19.6%: they hold 11 of the same securities.
UTI - BSE Sensex Next 50 Exchange Traded Fund
Index
- 3 year return
- 14.7%
- NAV
- ₹87.26
Which is better, ITI Arbitrage or UTI - BSE Sensex Next 50 Exchange Traded? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI - BSE Sensex Next 50 Exchange Traded returned more over 5 years: 12.3% a year against 6.3%.
- UTI - BSE Sensex Next 50 Exchange Traded returned more over 3 years: 14.7% a year against 7.3%.
- ITI Arbitrage swung less over 3 years: a standard deviation of 1.2% a year against 16.9%.
- ITI Arbitrage fell less in its worst fall since 12-09-2019: −0.6% against −38.4%.
- UTI - BSE Sensex Next 50 Exchange Traded holds more in large companies: 58.1% of the fund in large caps against 35.4%.
- ITI Arbitrage is the larger fund: ₹65 Cr against ₹32 Cr.
- Their portfolios overlap 19.6%: 11 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 | ITI Arbitrage Fund | UTI - BSE Sensex Next 50 Exchange Traded Fund |
|---|---|---|
| Fund house | ITI Mutual Fund | UTI Mutual Fund |
| Category | Arbitrage | Index |
| AUM | ₹65 Cr (30-09-2026) | ₹32 Cr (30-09-2026) |
| NAV | ₹14.70 (Direct) | ₹87.26 (Direct) |
| Expense ratio (Direct) | 1.10% | 0.00% |
| Expense ratio (Regular) | 1.80% | Not available |
| Riskometer | Low | Very High |
| Benchmark | Nifty 50 Arbitrage Index | BSE SENSEX Next 50 TRI |
| Launch date | 09-09-2019 | 08-03-2019 |
| Minimum investment | ₹5,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Vikas Nathani, Animesh Singh, Laukik Bagwe | Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3 |
| Exit load | Exit Load for units in excess of 10% of the investment,0.25% will be charged for redemption within 15 days. | Not available |
ITI Arbitrage vs UTI - BSE Sensex Next 50 Exchange Traded: 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 |
|---|---|---|---|---|---|---|---|
| ITI Arbitrage Fund (Direct) | +0.57% | +1.46% | +2.92% | +6.38% | +7.25% | +6.26% | -- |
| UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct) | −2.79% | −7.72% | −3.43% | −6.59% | +14.65% | +12.27% | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
ITI Arbitrage vs UTI - BSE Sensex Next 50 Exchange Traded: Year-wise Returns
| Year | ITI ArbitrageITI Arbitrage | UTI - BSE Sensex Next 50 Exchange TradedUTI - BSE Sensex Next 50 Exchange Traded |
|---|---|---|
| 2026to date | +5.21% | −6.51% |
| 2025 | +7.32% | +7.81% |
| 2024 | +8.03% | +26.24% |
| 2023 | +7.15% | +34.52% |
| 2022 | +3.23% | +4.97% |
| 2021 | +3.15% | +30.65% |
ITI Arbitrage vs UTI - BSE Sensex Next 50 Exchange Traded: Rolling Returns
Every holding period of both funds, against BSE SENSEX Next 50 TRI, the benchmark of UTI - BSE Sensex Next 50 Exchange Traded Fund
Rolling returns
Every 3-year holding period, 1,016 of them, one for each trading day from 12-09-2022 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.
ITI Arbitrage Fund (Direct)
UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct)
BSE SENSEX Next 50 TRI
to
Jan 2023Sept 2020
to
Sept 2023Jun 2021
to
Jun 2024Feb 2022
to
Feb 2025Nov 2022
to
Nov 2025Jul 2023
to
Jul 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ITI Arbitrage | 0.0 | 37.1 | 62.9 | 0.0 | 0.0 | 0.0 | 0.0 | 5.6% | 5.8% | 3.2% | 7.8% | 0% |
| UTI - BSE Sensex Next 50 Exchange Traded | 0.0 | 0.0 | 0.0 | 4.4 | 30.5 | 47.9 | 17.2 | 21.4% | 21.7% | 13.6% | 32.8% | 0% |
| BSE SENSEX Next 50 TRI | 0.0 | 0.0 | 0.0 | 2.5 | 30.1 | 48.0 | 19.4 | 21.8% | 22.0% | 13.8% | 33.2% | -- |
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. The benchmark is BSE SENSEX Next 50 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 12-09-2019. Past returns do not promise future returns.
ITI Arbitrage vs UTI - BSE Sensex Next 50 Exchange Traded: 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 12-09-2019 to 30-10-2026: 86 instalments, ₹8,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ITI ArbitrageITI Arbitrage Fund (Direct) | ₹8,60,000 | ₹10,79,521 | ₹2,19,521 | 6.3% |
| UTI - BSE Sensex Next 50 Exchange TradedUTI - BSE Sensex Next 50 Exchange Traded Fund (Direct) | ₹8,60,000 | ₹14,64,786 | ₹6,04,786 | 14.6% |
ITI ArbitrageITI Arbitrage Fund (Direct)
UTI - BSE Sensex Next 50 Exchange TradedUTI - BSE Sensex Next 50 Exchange Traded 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.
ITI Arbitrage vs UTI - BSE Sensex Next 50 Exchange Traded: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ITI Arbitrage Fund (Direct) | UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.38% | −6.59% |
| Standard deviation | 1.57% | 16.34% |
| Sharpe ratio | 0.73 | -0.72 |
| Sortino ratio | 1.06 | -0.95 |
| Maximum drawdown | −0.6% (29-09-2026) | −14.9% (30-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.16% |
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 | ITI Arbitrage Fund (Direct) | UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.25% | +14.65% |
| Standard deviation | 1.23% | 16.89% |
| Sharpe ratio | 1.00 | 0.51 |
| Sortino ratio | 1.48 | 0.69 |
| Maximum drawdown | −0.6% (29-09-2026) | −20.7% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.18% |
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 | ITI Arbitrage Fund (Direct) | UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.26% | +12.27% |
| Standard deviation | 1.10% | 16.91% |
| Sharpe ratio | 0.42 | 0.38 |
| Sortino ratio | 0.61 | 0.51 |
| Maximum drawdown | −0.6% (29-09-2026) | −20.7% (28-02-2025) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.17% |
From daily NAVs, 29-10-2021 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 | ITI Arbitrage Fund (Direct) | UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.53% | +13.37% |
| Standard deviation | 1.12% | 18.81% |
| Sharpe ratio | 0.36 | 0.44 |
| Sortino ratio | 0.51 | 0.58 |
| Maximum drawdown | −0.6% (07-04-2020) | −40.0% (23-03-2020) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.47% |
From daily NAVs, 12-09-2019 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.
ITI Arbitrage Fund (Direct)
UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct)
BSE SENSEX Next 50 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ITI Arbitrage Fund (Direct) | −0.6% | 16-03-2020 | 07-04-2020 | 30-04-2020 | 23 days | 0.0% |
| UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct) | −38.4% | 07-02-2020 | 23-03-2020 | 17-11-2020 | 8 months | −9.9% |
| BSE SENSEX Next 50 TRI | −37.4% | 07-02-2020 | 23-03-2020 | 11-11-2020 | 8 months | −10.0% |
From daily values since 12-09-2019, 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.
ITI Arbitrage Fund (Direct)
UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct)
BSE SENSEX Next 50 TRI
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.
ITI Arbitrage Fund (Direct)
UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct)
BSE SENSEX Next 50 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
ITI Arbitrage Fund (Direct)
UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct)
BSE SENSEX Next 50 TRI
Against BSE SENSEX Next 50 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ITI Arbitrage Fund (Direct) | 11% | -10% | 19.85% |
| UTI - BSE Sensex Next 50 Exchange Traded Fund (Direct) | 99% | 101% | 0.45% |
From month-end values since 12-09-2019. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
ITI Arbitrage vs UTI - BSE Sensex Next 50 Exchange Traded: Portfolio Overlap
From each fund's latest monthly portfolio: ITI Arbitrage Fund, September 2026; UTI - BSE Sensex Next 50 Exchange Traded Fund, September 2026
Holdings in common
- Overlap
- 19.6%
- Held by both
- 11
- Only in ITI Arbitrage
- 19
- Only in UTI - BSE Sensex Next 50 Exchange Traded
- 39
| Security | % of ITI Arbitrage | % of UTI - BSE Sensex Next 50 Exchange Traded |
|---|---|---|
| One 97 Communications Limited | 8.83% | 2.66% |
| Cummins India Limited | 4.56% | 2.39% |
| Varun Beverages Limited | 3.06% | 2.16% |
| IndusInd Bank Limited | 2.14% | 2.17% |
| AU Small Finance Bank Limited | 2.34% | 2.11% |
| Power Finance Corporation Limited | 4.44% | 1.75% |
| Persistent Systems Limited | 1.53% | 2.13% |
| HDFC Life Insurance Company Limited | 1.51% | 2.04% |
| ICICI Lombard General Insurance Company Limited | 1.92% | 1.43% |
| Canara Bank | 1.37% | 1.48% |
| Punjab National Bank | 0.56% | 1.44% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.6% means 19.6% 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 ITI Arbitrage Fund
| Security | % of fund |
|---|---|
| ITI Liquid Fund - Direct Plan - Growth Option | 14.82% |
| HDFC Bank Limited | 5.69% |
| Adani Ports and Special Economic Zone Limited | 3.56% |
| Bharti Airtel Limited | 3.22% |
| Shriram Finance Limited | 2.25% |
Largest holdings only in UTI - BSE Sensex Next 50 Exchange Traded Fund
| Security | % of fund |
|---|---|
| EQ - DIVIS LABORATORIES LTD. | 4.37% |
| EQ - ADANI ENTERPRISES LTD. | 3.63% |
| EQ - TATA MOTORS LTD | 3.27% |
| EQ - ADANI POWER LTD. | 3.19% |
| EQ - FEDERAL BANK LTD. | 2.90% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ITI Arbitrage | UTI - BSE Sensex Next 50 Exchange Traded |
|---|---|---|
| Equity | 65.4% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 34.6% | -0.0% |
Market cap of stocks
| Market cap | ITI Arbitrage | UTI - BSE Sensex Next 50 Exchange Traded |
|---|---|---|
| Large Cap | 35.4% | 58.1% |
| Mid Cap | 27.1% | 41.9% |
| Small Cap | 2.9% | 0.0% |
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 | ITI Arbitrage | UTI - BSE Sensex Next 50 Exchange Traded |
|---|---|---|
| Banks | 15.3% | 15.1% |
| Financial Technology (Fintech) | 8.8% | 4.1% |
| Finance | 8.3% | 7.4% |
| Pharmaceuticals & Biotechnology | 0.0% | 6.2% |
| IT - Software | 1.5% | 5.7% |
| Power | 0.7% | 5.4% |
| Agricultural, Commercial & Construction Vehicles | 0.0% | 4.9% |
| Industrial Products | 4.6% | 2.4% |
| Insurance | 4.5% | 3.5% |
| Transport Infrastructure | 3.6% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
ITI Arbitrage vs UTI - BSE Sensex Next 50 Exchange Traded: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ITI Arbitrage Fund | UTI - BSE Sensex Next 50 Exchange Traded Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.10% | 0.00% |
| Base expense ratio (Direct) | 0.21% | 0.00% |
| Total expense ratio (Regular) | 1.80% | Not available |
| Base expense ratio (Regular) | 0.81% | 0.20% |
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
ITI Arbitrage Fund vs UTI - BSE Sensex Next 50 Exchange Traded Fund: Frequently Asked Questions
What is the difference between ITI Arbitrage Fund and UTI - BSE Sensex Next 50 Exchange Traded Fund?
ITI Arbitrage Fund is an Arbitrage fund, UTI - BSE Sensex Next 50 Exchange Traded Fund is an Index fund, run by ITI Mutual Fund and UTI Mutual Fund. Their portfolios overlap 19.6%.
Which has given higher returns, ITI Arbitrage Fund or UTI - BSE Sensex Next 50 Exchange Traded Fund?
Over 1 year: ITI Arbitrage Fund +6.38%, UTI - BSE Sensex Next 50 Exchange Traded Fund −6.59%. Over 3 years: ITI Arbitrage Fund +7.25% a year, UTI - BSE Sensex Next 50 Exchange Traded Fund +14.65% a year. Over 5 years: ITI Arbitrage Fund +6.26% a year, UTI - BSE Sensex Next 50 Exchange Traded Fund +12.27% a year. As on 30-10-2026. Past returns do not promise future returns.
How much do ITI Arbitrage Fund and UTI - BSE Sensex Next 50 Exchange Traded Fund overlap?
19.6%. They hold 11 of the same securities, the largest shared ones being PAYTM, CUMMINSIND, VBL. From each fund's latest monthly portfolio.
Which is riskier, ITI Arbitrage Fund or UTI - BSE Sensex Next 50 Exchange Traded Fund?
On SEBI's riskometer, ITI Arbitrage Fund is rated Low and UTI - BSE Sensex Next 50 Exchange Traded Fund Very High. Over 3 years, the standard deviation of daily returns was 1.23% and 16.89% a year.
Which is better for SIP, ITI Arbitrage Fund or UTI - BSE Sensex Next 50 Exchange Traded Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,27,182 in ITI Arbitrage Fund (XIRR 6.9% a year) and ₹8,01,949 in UTI - BSE Sensex Next 50 Exchange Traded Fund (XIRR 10.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ITI Arbitrage Fund and UTI - BSE Sensex Next 50 Exchange Traded Fund?
Yes. 19.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ITI Arbitrage Fund and UTI - BSE Sensex Next 50 Exchange Traded Fund?
ITI Arbitrage Fund: Vikas Nathani, Animesh Singh, Laukik Bagwe. UTI - BSE Sensex Next 50 Exchange Traded Fund: Sharwan Kumar Goyal FM 1, Ayush Jain FM 2, Lokesh Kulthia FM 3.
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.