JioBlackRock Arbitrage Fund vs SBI Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
JioBlackRock Arbitrage Fund and SBI Arbitrage Fund are both Arbitrage funds. JioBlackRock Arbitrage Fund charges 1.99% a year and SBI Arbitrage Fund 1.47% (Direct plans). Their portfolios overlap 44.4%: they hold 117 of the same securities.
Which is better, JioBlackRock Arbitrage or SBI Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI Arbitrage costs less: 1.47% a year against 1.99% (Direct plans).
- JioBlackRock Arbitrage fell less in its worst fall since 19-12-2025: −0.4% against −0.5%.
- SBI Arbitrage is the larger fund: ₹46,309 Cr against ₹558 Cr.
- Their portfolios overlap 44.4%: 117 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 | SBI Arbitrage Fund |
|---|---|---|
| Fund house | Jio BlackRock Mutual Fund | SBI Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹558 Cr (30-09-2026) | ₹46,309 Cr (30-09-2026) |
| NAV | ₹10.61 (Direct) | ₹39.08 (Direct) |
| Expense ratio (Direct) | 1.99% | 1.47% |
| Expense ratio (Regular) | 3.26% | 1.99% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 21-08-2026 | 03-11-2006 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R | Neeraj Kumar - Equity, Ardhendu Bhattacharya |
| Exit load | Nil | Exit load of 0.25%, if redeemed within 15 Days. |
JioBlackRock Arbitrage vs SBI 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% | -- | -- | -- | -- |
| SBI Arbitrage Fund (Direct) | +0.56% | +1.53% | +3.22% | +6.59% | +7.24% | +6.83% | +6.24% |
| 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 SBI Arbitrage: Year-wise Returns
| Year | JioBlackRockJioBlackRock Arbitrage | SBISBI Arbitrage |
|---|---|---|
| 2026to date | +5.76% | +5.39% |
| 2025 | -- | +7.05% |
| 2024 | -- | +8.11% |
| 2023 | -- | +7.98% |
| 2022 | -- | +5.09% |
| 2021 | -- | +4.43% |
JioBlackRock Arbitrage vs SBI Arbitrage: Rolling Returns
Every holding period of both funds
JioBlackRock Arbitrage vs SBI 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) | SBI Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.01% | +6.84% |
| Standard deviation | 1.50% | 1.07% |
| Sharpe ratio | 1.19 | 0.74 |
| Sortino ratio | 1.84 | 1.11 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.7% (25-03-2020) |
| 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)
SBI 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% |
| SBI Arbitrage Fund (Direct) | −0.5% | 03-08-2026 | 06-08-2026 | 01-09-2026 | 26 days | −0.1% |
From daily values since 19-12-2025, the first day every fund has.
JioBlackRock Arbitrage vs SBI Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: JioBlackRock Arbitrage Fund, September 2026; SBI Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 44.4%
- Held by both
- 117
- Only in JioBlackRock Arbitrage
- 4
- Only in SBI Arbitrage
- 79
| Security | % of JioBlackRock Arbitrage | % of SBI Arbitrage |
|---|---|---|
| Reliance Industries Ltd | 6.48% | 5.58% |
| HDFC Bank Ltd | 6.97% | 4.92% |
| ICICI Bank Ltd | 7.14% | 2.75% |
| HDFC Bank Ltd (18-Jan-2027) | 4.39% | 2.54% |
| State Bank of India | 2.14% | 3.68% |
| Tata Steel Ltd | 1.74% | 1.59% |
| Adani Enterprises Ltd | 1.57% | 1.41% |
| Axis Bank Ltd | 1.22% | 2.31% |
| Vodafone Idea Ltd | 5.24% | 1.10% |
| Adani Power Ltd | 1.00% | 1.03% |
| ITC Ltd | 1.62% | 0.93% |
| Canara Bank | 4.85% | 0.89% |
| Bank of Baroda | 1.22% | 0.78% |
| Varun Beverages Ltd | 0.93% | 0.76% |
| Federal Bank Ltd | 1.09% | 0.74% |
| Power Finance Corporation Ltd | 0.64% | 0.88% |
| IDFC First Bank Ltd | 0.62% | 0.73% |
| Infosys Ltd | 0.87% | 0.59% |
| Bharti Airtel Ltd | 0.54% | 2.39% |
| Coal India Ltd | 0.51% | 0.90% |
| Manappuram Finance Ltd | 0.64% | 0.45% |
| IndusInd Bank Ltd | 0.70% | 0.43% |
| NMDC Ltd | 0.93% | 0.42% |
| Hindalco Industries Ltd | 0.41% | 0.54% |
| Cummins India Ltd | 0.72% | 0.41% |
| Multi Commodity Exchange Of India Ltd | 0.60% | 0.41% |
| Bajaj Finance Ltd | 0.40% | 1.57% |
| Divi's Laboratories Ltd | 0.40% | 1.09% |
| Life Insurance Corporation Of India | 3.72% | 0.38% |
| Bharat Electronics Ltd | 0.37% | 1.36% |
| Mahindra & Mahindra Ltd | 0.34% | 0.44% |
| APL Apollo Tubes Ltd | 0.33% | 0.38% |
| Crompton Greaves Consumer Electricals Ltd | 1.67% | 0.32% |
| Torrent Pharmaceuticals Ltd | 0.72% | 0.32% |
| Kalyan Jewellers India Ltd | 0.31% | 0.46% |
| HCL Technologies Ltd | 0.66% | 0.27% |
| Kotak Mahindra Bank Ltd | 0.27% | 0.85% |
| Maruti Suzuki India Ltd | 0.27% | 0.60% |
| Godrej Properties Ltd | 0.70% | 0.24% |
| Sun Pharmaceutical Industries Ltd | 0.31% | 0.22% |
| Hindustan Aeronautics Ltd | 0.21% | 1.16% |
| Swiggy Ltd | 1.19% | 0.21% |
| KEI Industries Ltd | 0.77% | 0.20% |
| Tata Consultancy Services Ltd | 0.29% | 0.20% |
| SRF Ltd | 0.40% | 0.19% |
| Titan Co Ltd | 0.19% | 0.32% |
| Indian Hotels Co Ltd | 0.18% | 0.70% |
| Container Corporation Of India Ltd | 0.34% | 0.15% |
| Aditya Birla Capital Ltd | 0.15% | 0.31% |
| NTPC Ltd | 0.15% | 0.55% |
| Ashok Leyland Ltd | 0.25% | 0.14% |
| Oil & Natural Gas Corporation Ltd | 0.21% | 0.14% |
| JSW Energy Ltd | 0.14% | 0.14% |
| Jio Financial Services Ltd | 0.14% | 0.77% |
| Biocon Ltd | 0.13% | 0.37% |
| Tech Mahindra Ltd | 0.13% | 0.64% |
| Astral Ltd | 0.43% | 0.13% |
| Power Grid Corporation of India Ltd | 0.14% | 0.13% |
| Indian Oil Corporation Ltd | 0.13% | 0.56% |
| Hindustan Unilever Ltd | 0.12% | 0.56% |
| Bharat Heavy Electricals Ltd | 0.12% | 0.72% |
| LIC Housing Finance Ltd | 0.11% | 0.12% |
| Punjab National Bank | 0.11% | 0.78% |
| Tata Power Co Ltd | 0.11% | 0.64% |
| Delhivery Ltd | 0.44% | 0.11% |
| Lupin Ltd | 0.26% | 0.10% |
| Aurobindo Pharma Ltd | 0.10% | 0.34% |
| Indus Towers Ltd | 0.09% | 0.61% |
| AU Small Finance Bank Ltd | 0.09% | 0.21% |
| National Aluminium Co Ltd | 0.29% | 0.09% |
| Marico Ltd | 0.14% | 0.09% |
| Asian Paints Ltd | 0.09% | 0.09% |
| Union Bank Of India | 0.08% | 0.37% |
| Hindustan Petroleum Corporation Ltd | 0.08% | 0.12% |
| Bajaj Auto Ltd | 0.07% | 0.27% |
| BSE Ltd | 0.34% | 0.07% |
| Steel Authority of India Ltd | 0.06% | 0.46% |
| Info Edge (India) Ltd | 0.06% | 0.39% |
| Bajaj Holdings & Investment Ltd | 0.09% | 0.06% |
| Hero MotoCorp Ltd | 0.07% | 0.06% |
| Tata Motors Passenger Vehicles Ltd | 0.06% | 0.52% |
| Ge Vernova T&D India Ltd | 0.06% | 0.17% |
| Bajaj Finserv Ltd | 0.06% | 0.08% |
| Cholamandalam Investment and Finance Co Ltd | 0.05% | 0.49% |
| GAIL (India) Ltd | 0.05% | 0.06% |
| Interglobe Aviation Ltd | 0.05% | 0.10% |
| Fortis Healthcare Ltd | 0.05% | 0.16% |
| L&T Finance Ltd | 0.05% | 0.14% |
| UPL Ltd | 0.05% | 0.09% |
| HDFC Life Insurance Co Ltd | 0.05% | 0.19% |
| HDFC Asset Management Co Ltd | 0.05% | 0.36% |
| RBL Bank Ltd | 0.05% | 0.14% |
| Coforge Ltd | 0.04% | 0.32% |
| Mphasis Ltd | 0.04% | 0.15% |
| PG Electroplast Ltd | 0.82% | 0.04% |
| Radico Khaitan Ltd | 0.16% | 0.04% |
| Samvardhana Motherson International Ltd | 0.04% | 0.71% |
| Larsen & Toubro Ltd | 0.04% | 0.87% |
| Oil India Ltd | 0.03% | 0.07% |
| Indian Energy Exchange Ltd | 0.03% | 0.05% |
| SBI Cards and Payment Services Ltd | 0.12% | 0.03% |
| Tata Consumer Products Ltd | 0.03% | 0.62% |
| Hitachi Energy India Ltd | 0.03% | 0.27% |
| Suzlon Energy Ltd | 0.03% | 0.15% |
| Phoenix Mills Ltd | 0.02% | 0.09% |
| DLF Ltd | 0.02% | 0.05% |
| Computer Age Management Services Ltd | 0.09% | 0.02% |
| Sagility Ltd | 0.03% | 0.02% |
| ICICI Lombard General Insurance Co Ltd | 0.02% | 0.11% |
| JSW Steel Ltd | 0.02% | 1.58% |
| Eternal Ltd | 0.01% | 0.16% |
| Alkem Laboratories Ltd | 0.01% | 0.09% |
| Ultratech Cement Ltd | 0.01% | 0.42% |
| Colgate Palmolive (India) Ltd | 0.01% | 0.04% |
| Tube Investments of India Ltd | 0.01% | 0.06% |
| Inox Wind Ltd | 0.01% | 0.09% |
| Voltas Ltd | 0.01% | 0.09% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 44.4% means 44.4% 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% |
| Canara Bank (28-Jan-2027) | 4.38% |
| JioBlackRock Liquid Fund - Direct Plan - Growth Option | 2.83% |
| Yes Bank Ltd | 2.42% |
Largest holdings only in SBI Arbitrage Fund
| Security | % of fund |
|---|---|
| SBI Liquid Fund - DIRECT PLAN -Growth Option | 7.25% |
| SBI Money Market Fund - Direct Plan - Growth Option | 7.06% |
| Bank of Baroda | 1.06% |
| Union Bank of India | 1.06% |
| Adani Green Energy Ltd. | 0.99% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JioBlackRock Arbitrage | SBI Arbitrage |
|---|---|---|
| Equity | 74.1% | 77.2% |
| Debt | 8.8% | 6.5% |
| Cash and others | 17.1% | 16.4% |
Market cap of stocks
| Market cap | JioBlackRock Arbitrage | SBI Arbitrage |
|---|---|---|
| Large Cap | 56.6% | 61.8% |
| Mid Cap | 13.5% | 13.2% |
| Small Cap | 3.9% | 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 | JioBlackRock Arbitrage | SBI Arbitrage |
|---|---|---|
| Banks | 29.0% | 20.0% |
| Petroleum Products | 6.7% | 6.3% |
| Telecom - Services | 5.9% | 4.1% |
| Finance | 2.5% | 5.7% |
| Power | 1.5% | 4.3% |
| Insurance | 3.8% | 0.9% |
| Ferrous Metals | 1.8% | 3.8% |
| Consumer Durables | 3.1% | 1.4% |
The six largest sectors of each fund's stocks, % of the fund.
JioBlackRock Arbitrage vs SBI Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JioBlackRock Arbitrage Fund | SBI Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.99% | 1.47% |
| Base expense ratio (Direct) | 0.28% | 0.34% |
| Total expense ratio (Regular) | 3.26% | 1.99% |
| Base expense ratio (Regular) | 0.90% | 0.78% |
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 SBI Arbitrage Fund: Frequently Asked Questions
What is the difference between JioBlackRock Arbitrage Fund and SBI Arbitrage Fund?
Both are Arbitrage funds, run by Jio BlackRock Mutual Fund and SBI Mutual Fund. Their portfolios overlap 44.4%. JioBlackRock Arbitrage Fund charges 1.99% a year and SBI Arbitrage Fund 1.47%.
Which has the lower expense ratio, JioBlackRock Arbitrage Fund or SBI Arbitrage Fund?
SBI Arbitrage Fund charges less: 1.47% a year against 1.99%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JioBlackRock Arbitrage Fund and SBI Arbitrage Fund overlap?
44.4%. They hold 117 of the same securities, the largest shared ones being RELIANCE, HDFCBANK, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, JioBlackRock Arbitrage Fund or SBI Arbitrage Fund?
On SEBI's riskometer, JioBlackRock Arbitrage Fund is rated Low and SBI Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.50% and 1.07% a year.
Can I invest in both JioBlackRock Arbitrage Fund and SBI Arbitrage Fund?
Yes. 44.4% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages JioBlackRock Arbitrage Fund and SBI Arbitrage Fund?
JioBlackRock Arbitrage Fund: Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R. SBI Arbitrage Fund: Neeraj Kumar - Equity, Ardhendu Bhattacharya.
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.