JioBlackRock Arbitrage Fund vs Kotak Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
JioBlackRock Arbitrage Fund and Kotak Arbitrage Fund are both Arbitrage funds. JioBlackRock Arbitrage Fund charges 1.99% a year and Kotak Arbitrage Fund 2.31% (Direct plans). Their portfolios overlap 35.6%: they hold 111 of the same securities.
Which is better, JioBlackRock Arbitrage or Kotak Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- JioBlackRock Arbitrage costs less: 1.99% a year against 2.31% (Direct plans).
- JioBlackRock Arbitrage fell less in its worst fall since 19-12-2025: −0.4% against −0.5%.
- Kotak Arbitrage is the larger fund: ₹75,275 Cr against ₹558 Cr.
- Their portfolios overlap 35.6%: 111 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 | JioBlackRock Arbitrage Fund | Kotak Arbitrage Fund |
|---|---|---|
| Fund house | Jio BlackRock Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹558 Cr (30-09-2026) | ₹75,275 Cr (30-09-2026) |
| NAV | ₹10.61 (Direct) | ₹43.60 (Direct) |
| Expense ratio (Direct) | 1.99% | 2.31% |
| Expense ratio (Regular) | 3.26% | 2.89% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 21-08-2026 | 29-09-2005 |
| Minimum investment | ₹500 | ₹100 |
| Lock in | None | None |
| Fund managers | Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R | Hiten Shah |
| Exit load | Nil | Exit load of 0.25% if redeemed within 30 days |
JioBlackRock Arbitrage vs Kotak 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 |
|---|---|---|---|---|---|---|---|
| JioBlackRock Arbitrage Fund (Direct) | +0.67% | +1.65% | +3.38% | -- | -- | -- | -- |
| Kotak Arbitrage Fund (Direct) | +0.55% | +1.55% | +3.29% | +6.75% | +7.43% | +6.98% | +6.46% |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | +6.31% |
Category average: the average of the 39 Arbitrage funds, same plan type.
JioBlackRock Arbitrage vs Kotak Arbitrage: Year-wise Returns
| Year | JioBlackRockJioBlackRock Arbitrage | KotakKotak Arbitrage |
|---|---|---|
| 2026to date | +5.76% | +5.53% |
| 2025 | -- | +7.06% |
| 2024 | -- | +8.47% |
| 2023 | -- | +8.01% |
| 2022 | -- | +5.14% |
| 2021 | -- | +4.56% |
JioBlackRock Arbitrage vs Kotak Arbitrage: Rolling Returns
Every holding period of both funds
JioBlackRock Arbitrage vs Kotak Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JioBlackRock Arbitrage Fund (Direct) | Kotak Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.01% | +7.07% |
| Standard deviation | 1.50% | 1.02% |
| Sharpe ratio | 1.19 | 1.00 |
| Sortino ratio | 1.84 | 1.52 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.6% (03-06-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 19-12-2025 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.
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.
JioBlackRock Arbitrage Fund (Direct)
Kotak Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JioBlackRock Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | 0.0% |
| Kotak Arbitrage Fund (Direct) | −0.5% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.0% |
From daily values since 19-12-2025, the first day every fund has.
JioBlackRock Arbitrage vs Kotak Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: JioBlackRock Arbitrage Fund, September 2026; Kotak Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 35.6%
- Held by both
- 111
- Only in JioBlackRock Arbitrage
- 10
- Only in Kotak Arbitrage
- 83
| Security | % of JioBlackRock Arbitrage | % of Kotak Arbitrage |
|---|---|---|
| ICICI Bank Ltd | 7.14% | 4.17% |
| Reliance Industries Ltd | 6.48% | 3.06% |
| HDFC Bank Ltd | 6.97% | 2.03% |
| Tata Steel Ltd | 1.74% | 1.53% |
| State Bank of India | 2.14% | 1.35% |
| Vodafone Idea Ltd | 5.24% | 1.30% |
| Axis Bank Ltd | 1.22% | 2.94% |
| Adani Power Ltd | 1.00% | 1.43% |
| Infosys Ltd | 0.87% | 1.25% |
| ITC Ltd | 1.62% | 0.85% |
| Swiggy Ltd | 1.19% | 0.75% |
| Cummins India Ltd | 0.72% | 0.82% |
| Bank of Baroda | 1.22% | 0.69% |
| Power Finance Corporation Ltd | 0.64% | 0.80% |
| Torrent Pharmaceuticals Ltd | 0.72% | 0.63% |
| Yes Bank Ltd | 2.42% | 0.56% |
| Canara Bank | 4.85% | 0.55% |
| Bharti Airtel Ltd | 0.54% | 1.45% |
| Coal India Ltd | 0.51% | 1.18% |
| IDFC First Bank Ltd | 0.62% | 0.47% |
| Varun Beverages Ltd | 0.93% | 0.46% |
| Hindalco Industries Ltd | 0.41% | 1.31% |
| NMDC Ltd | 0.93% | 0.41% |
| Godrej Properties Ltd | 0.70% | 0.40% |
| Bajaj Finance Ltd | 0.40% | 1.20% |
| Divi's Laboratories Ltd | 0.40% | 0.96% |
| Delhivery Ltd | 0.44% | 0.36% |
| Mahindra & Mahindra Ltd | 0.34% | 0.46% |
| APL Apollo Tubes Ltd | 0.33% | 0.61% |
| Adani Enterprises Ltd | 1.57% | 0.32% |
| Tata Consultancy Services Ltd | 0.29% | 0.53% |
| Kotak Mahindra Bank Ltd | 0.27% | 0.47% |
| Maruti Suzuki India Ltd | 0.27% | 0.66% |
| Lupin Ltd | 0.26% | 0.59% |
| Kalyan Jewellers India Ltd | 0.31% | 0.25% |
| Ashok Leyland Ltd | 0.25% | 0.35% |
| Crompton Greaves Consumer Electricals Ltd | 1.67% | 0.23% |
| SRF Ltd | 0.40% | 0.22% |
| Hindustan Aeronautics Ltd | 0.21% | 0.35% |
| Manappuram Finance Ltd | 0.64% | 0.21% |
| Life Insurance Corporation Of India | 3.72% | 0.20% |
| Astral Ltd | 0.43% | 0.19% |
| Titan Co Ltd | 0.19% | 0.31% |
| Indian Hotels Co Ltd | 0.18% | 0.52% |
| Sun Pharmaceutical Industries Ltd | 0.31% | 0.17% |
| National Aluminium Co Ltd | 0.29% | 0.17% |
| Radico Khaitan Ltd | 0.16% | 0.24% |
| HCL Technologies Ltd | 0.66% | 0.15% |
| Aditya Birla Capital Ltd | 0.15% | 0.30% |
| NTPC Ltd | 0.15% | 0.64% |
| JSW Energy Ltd | 0.14% | 0.27% |
| PG Electroplast Ltd | 0.82% | 0.14% |
| KEI Industries Ltd | 0.77% | 0.14% |
| Container Corporation Of India Ltd | 0.34% | 0.14% |
| Jio Financial Services Ltd | 0.14% | 0.34% |
| Marico Ltd | 0.14% | 0.34% |
| Biocon Ltd | 0.13% | 0.32% |
| Tech Mahindra Ltd | 0.13% | 0.69% |
| Indian Oil Corporation Ltd | 0.13% | 0.69% |
| Hindustan Unilever Ltd | 0.12% | 0.57% |
| Bharat Electronics Ltd | 0.37% | 0.12% |
| BSE Ltd | 0.34% | 0.12% |
| Bharat Heavy Electricals Ltd | 0.12% | 0.18% |
| SBI Cards and Payment Services Ltd | 0.12% | 0.15% |
| LIC Housing Finance Ltd | 0.11% | 0.27% |
| Punjab National Bank | 0.11% | 0.17% |
| Tata Power Co Ltd | 0.11% | 0.25% |
| Oil & Natural Gas Corporation Ltd | 0.21% | 0.11% |
| Aurobindo Pharma Ltd | 0.10% | 0.39% |
| Indus Towers Ltd | 0.09% | 0.65% |
| Computer Age Management Services Ltd | 0.09% | 0.12% |
| Union Bank Of India | 0.08% | 0.25% |
| Asian Paints Ltd | 0.09% | 0.08% |
| Hindustan Petroleum Corporation Ltd | 0.08% | 0.44% |
| Bajaj Auto Ltd | 0.07% | 0.52% |
| Steel Authority of India Ltd | 0.06% | 0.35% |
| Info Edge (India) Ltd | 0.06% | 0.59% |
| Tata Motors Passenger Vehicles Ltd | 0.06% | 0.43% |
| Ge Vernova T&D India Ltd | 0.06% | 0.55% |
| Bajaj Finserv Ltd | 0.06% | 0.25% |
| Cholamandalam Investment and Finance Co Ltd | 0.05% | 0.88% |
| GAIL (India) Ltd | 0.05% | 0.44% |
| Interglobe Aviation Ltd | 0.05% | 0.34% |
| Fortis Healthcare Ltd | 0.05% | 0.22% |
| UPL Ltd | 0.05% | 0.27% |
| HDFC Life Insurance Co Ltd | 0.05% | 0.33% |
| Bajaj Holdings & Investment Ltd | 0.09% | 0.05% |
| L&T Finance Ltd | 0.05% | 0.05% |
| HDFC Asset Management Co Ltd | 0.05% | 0.28% |
| Coforge Ltd | 0.04% | 0.78% |
| Mphasis Ltd | 0.04% | 0.27% |
| Samvardhana Motherson International Ltd | 0.04% | 0.62% |
| Larsen & Toubro Ltd | 0.04% | 0.29% |
| Oil India Ltd | 0.03% | 0.05% |
| Indian Energy Exchange Ltd | 0.03% | 0.12% |
| Canara Bank (28-Jan-2027) | 4.38% | 0.03% |
| Tata Consumer Products Ltd | 0.03% | 0.67% |
| Sagility Ltd | 0.03% | 0.16% |
| Hitachi Energy India Ltd | 0.03% | 0.15% |
| Suzlon Energy Ltd | 0.03% | 0.22% |
| Phoenix Mills Ltd | 0.02% | 0.07% |
| ICICI Lombard General Insurance Co Ltd | 0.02% | 0.22% |
| JSW Steel Ltd | 0.02% | 0.74% |
| Eternal Ltd | 0.01% | 0.13% |
| Alkem Laboratories Ltd | 0.01% | 0.39% |
| Hero MotoCorp Ltd | 0.07% | 0.01% |
| Ultratech Cement Ltd | 0.01% | 0.16% |
| Colgate Palmolive (India) Ltd | 0.01% | 0.07% |
| Tube Investments of India Ltd | 0.01% | 0.32% |
| Inox Wind Ltd | 0.01% | 0.04% |
| Voltas Ltd | 0.01% | 0.13% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.6% means 35.6% 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 JioBlackRock Arbitrage Fund
| Security | % of fund |
|---|---|
| JioBlackRock Money Market Fund - Direct Plan - Growth Option | 11.16% |
| HDFC Bank Ltd (18-Jan-2027) | 4.39% |
| JioBlackRock Liquid Fund - Direct Plan - Growth Option | 2.83% |
| Federal Bank Ltd | 1.09% |
| IndusInd Bank Ltd | 0.70% |
Largest holdings only in Kotak Arbitrage Fund
| Security | % of fund |
|---|---|
| Kotak Money Market Fund Direct Growth | 9.78% |
| Kotak Savings Fund Direct Growth | 4.98% |
| Kotak Ultra Short to Short Term Fund | 3.86% |
| Kotak Liquid Direct Growth | 3.13% |
| HDFC BANK LTD. | 1.94% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JioBlackRock Arbitrage | Kotak Arbitrage |
|---|---|---|
| Equity | 74.1% | 71.1% |
| Debt | 8.8% | 5.8% |
| Cash and others | 17.1% | 23.1% |
Market cap of stocks
| Market cap | JioBlackRock Arbitrage | Kotak Arbitrage |
|---|---|---|
| Large Cap | 56.6% | 52.1% |
| Mid Cap | 13.5% | 16.4% |
| Small Cap | 3.9% | 2.6% |
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 | JioBlackRock Arbitrage | Kotak Arbitrage |
|---|---|---|
| Banks | 29.0% | 14.4% |
| Petroleum Products | 6.7% | 4.6% |
| Telecom - Services | 5.9% | 3.4% |
| Finance | 2.5% | 5.7% |
| Pharmaceuticals and Biotechnology | 0.0% | 4.2% |
| Power | 1.5% | 3.9% |
| Insurance | 3.8% | 1.0% |
| IT - Software | 2.0% | 3.8% |
| Consumer Durables | 3.1% | 1.2% |
The six largest sectors of each fund's stocks, % of the fund.
JioBlackRock Arbitrage vs Kotak Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JioBlackRock Arbitrage Fund | Kotak Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.99% | 2.31% |
| Base expense ratio (Direct) | 0.28% | 0.33% |
| Total expense ratio (Regular) | 3.26% | 2.89% |
| Base expense ratio (Regular) | 0.90% | 0.83% |
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 JioBlackRock Arbitrage with
JioBlackRock Arbitrage Fund vs Kotak Arbitrage Fund: Frequently Asked Questions
What is the difference between JioBlackRock Arbitrage Fund and Kotak Arbitrage Fund?
Both are Arbitrage funds, run by Jio BlackRock Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 35.6%. JioBlackRock Arbitrage Fund charges 1.99% a year and Kotak Arbitrage Fund 2.31%.
Which has the lower expense ratio, JioBlackRock Arbitrage Fund or Kotak Arbitrage Fund?
JioBlackRock Arbitrage Fund charges less: 1.99% a year against 2.31%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JioBlackRock Arbitrage Fund and Kotak Arbitrage Fund overlap?
35.6%. They hold 111 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, JioBlackRock Arbitrage Fund or Kotak Arbitrage Fund?
On SEBI's riskometer, JioBlackRock Arbitrage Fund is rated Low and Kotak Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.50% and 1.02% a year.
Can I invest in both JioBlackRock Arbitrage Fund and Kotak Arbitrage Fund?
Yes. 35.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JioBlackRock Arbitrage Fund and Kotak Arbitrage Fund?
JioBlackRock Arbitrage Fund: Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R. Kotak Arbitrage Fund: Hiten Shah.
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.