JioBlackRock Arbitrage Fund vs SBI BSE 100 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
JioBlackRock Arbitrage Fund is an Arbitrage fund and SBI BSE 100 ETF is a mutual fund. JioBlackRock Arbitrage Fund charges 1.99% a year and SBI BSE 100 ETF 0.16%. Their portfolios overlap 40.9%: they hold 71 of the same securities.
Which is better, JioBlackRock Arbitrage or SBI BSE 100 ETF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- SBI BSE 100 ETF costs less: 0.16% a year against 1.99%.
- JioBlackRock Arbitrage fell less in its worst fall since 19-12-2025: −0.4% against −15.0%.
- SBI BSE 100 ETF holds more in large companies: 90.2% of the fund in large caps against 56.6%.
- JioBlackRock Arbitrage is the larger fund: ₹558 Cr against ₹9 Cr.
- Their portfolios overlap 40.9%: 71 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 BSE 100 ETF |
|---|---|---|
| Fund house | Jio BlackRock Mutual Fund | SBI Mutual Fund |
| Category | Arbitrage | Not available |
| AUM | ₹558 Cr (30-09-2026) | ₹9 Cr (30-09-2026) |
| NAV | ₹10.61 (Direct) | ₹272.01 (Regular) |
| Expense ratio (Direct) | 1.99% | Not available |
| Expense ratio (Regular) | 3.26% | 0.16% |
| Riskometer | Low | Not available |
| Benchmark | Nifty 50 Arbitrage TRI | Not available |
| Launch date | 21-08-2026 | Not available |
| Minimum investment | ₹500 | Not available |
| Lock in | None | Not available |
| Fund managers | Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R | Not available |
| Exit load | Nil | Not available |
JioBlackRock Arbitrage vs SBI BSE 100 ETF: 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 BSE 100 ETF (Regular) | +0.93% | −5.53% | −2.97% | −9.05% | +8.78% | +7.62% | +11.52% |
| Arbitrage average | +0.56% | +1.52% | +3.20% | -- | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
JioBlackRock Arbitrage vs SBI BSE 100 ETF: Year-wise Returns
| Year | JioBlackRock ArbitrageJioBlackRock Arbitrage | SBI BSE 100 ETFSBI BSE 100 ETF |
|---|---|---|
| 2026to date | +5.76% | −9.80% |
| 2025 | -- | +10.33% |
| 2024 | -- | +13.11% |
| 2023 | -- | +23.07% |
| 2022 | -- | +5.85% |
| 2021 | -- | +26.33% |
JioBlackRock Arbitrage vs SBI BSE 100 ETF: Rolling Returns
Every holding period of both funds, against BSE 100 TRI, the benchmark of SBI BSE 100 ETF
JioBlackRock Arbitrage vs SBI BSE 100 ETF: 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 BSE 100 ETF (Regular) |
|---|---|---|
| Return (CAGR) | +7.01% | +10.40% |
| Standard deviation | 1.50% | 15.99% |
| Sharpe ratio | 1.19 | 0.30 |
| Sortino ratio | 1.84 | 0.40 |
| Maximum drawdown | −0.4% (06-08-2026) | −38.2% (23-03-2020) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.44% |
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 BSE 100 ETF (Regular)
BSE 100 TRI
| 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 BSE 100 ETF (Regular) | −15.0% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.6% |
| BSE 100 TRI | −15.0% | 02-01-2026 | 30-03-2026 | Not yet | -- | −10.4% |
From daily values since 19-12-2025, the first day every fund has.
JioBlackRock Arbitrage vs SBI BSE 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: JioBlackRock Arbitrage Fund, September 2026; SBI BSE 100 ETF, September 2026
Holdings in common
- Overlap
- 40.9%
- Held by both
- 71
- Only in JioBlackRock Arbitrage
- 50
- Only in SBI BSE 100 ETF
- 29
| Security | % of JioBlackRock Arbitrage | % of SBI BSE 100 ETF |
|---|---|---|
| ICICI Bank Ltd | 7.14% | 7.24% |
| HDFC Bank Ltd | 6.97% | 8.26% |
| Reliance Industries Ltd | 6.48% | 6.01% |
| State Bank of India | 2.14% | 3.04% |
| ITC Ltd | 1.62% | 1.94% |
| Axis Bank Ltd | 1.22% | 2.68% |
| Tata Steel Ltd | 1.74% | 1.16% |
| Infosys Ltd | 0.87% | 2.68% |
| Adani Enterprises Ltd | 1.57% | 0.75% |
| HCL Technologies Ltd | 0.66% | 0.99% |
| Adani Power Ltd | 1.00% | 0.66% |
| Federal Bank Ltd | 1.09% | 0.60% |
| Bharti Airtel Ltd | 0.54% | 4.18% |
| Coal India Ltd | 0.51% | 0.78% |
| Cummins India Ltd | 0.72% | 0.49% |
| Varun Beverages Ltd | 0.93% | 0.45% |
| IndusInd Bank Ltd | 0.70% | 0.45% |
| Hindalco Industries Ltd | 0.41% | 1.03% |
| IDFC First Bank Ltd | 0.62% | 0.41% |
| Bajaj Finance Ltd | 0.40% | 1.96% |
| Divi's Laboratories Ltd | 0.40% | 0.90% |
| Bharat Electronics Ltd | 0.37% | 1.07% |
| Power Finance Corporation Ltd | 0.64% | 0.36% |
| Mahindra & Mahindra Ltd | 0.34% | 2.01% |
| Bank of Baroda | 1.22% | 0.33% |
| Canara Bank | 4.85% | 0.31% |
| Sun Pharmaceutical Industries Ltd | 0.31% | 1.50% |
| Tata Consultancy Services Ltd | 0.29% | 1.58% |
| Yes Bank Ltd | 2.42% | 0.28% |
| SRF Ltd | 0.40% | 0.27% |
| Kotak Mahindra Bank Ltd | 0.27% | 2.34% |
| Maruti Suzuki India Ltd | 0.27% | 1.18% |
| Lupin Ltd | 0.26% | 0.38% |
| Ashok Leyland Ltd | 0.25% | 0.33% |
| Hindustan Aeronautics Ltd | 0.21% | 0.66% |
| Oil & Natural Gas Corporation Ltd | 0.21% | 0.67% |
| Titan Co Ltd | 0.19% | 1.43% |
| Indian Hotels Co Ltd | 0.18% | 0.49% |
| NTPC Ltd | 0.15% | 1.17% |
| Power Grid Corporation of India Ltd | 0.14% | 0.91% |
| Jio Financial Services Ltd | 0.14% | 0.55% |
| Marico Ltd | 0.14% | 0.32% |
| Tech Mahindra Ltd | 0.13% | 0.75% |
| Indian Oil Corporation Ltd | 0.13% | 0.38% |
| Hindustan Unilever Ltd | 0.12% | 1.28% |
| Punjab National Bank | 0.11% | 0.30% |
| Tata Power Co Ltd | 0.11% | 0.46% |
| Indus Towers Ltd | 0.09% | 0.37% |
| AU Small Finance Bank Ltd | 0.09% | 0.44% |
| Bajaj Holdings & Investment Ltd | 0.09% | 0.35% |
| Asian Paints Ltd | 0.09% | 0.83% |
| Bajaj Auto Ltd | 0.07% | 0.88% |
| Hero MotoCorp Ltd | 0.07% | 0.51% |
| Info Edge (India) Ltd | 0.06% | 0.36% |
| Tata Motors Passenger Vehicles Ltd | 0.06% | 0.46% |
| Bajaj Finserv Ltd | 0.06% | 0.74% |
| Cholamandalam Investment and Finance Co Ltd | 0.05% | 0.54% |
| GAIL (India) Ltd | 0.05% | 0.35% |
| Interglobe Aviation Ltd | 0.05% | 0.85% |
| HDFC Life Insurance Co Ltd | 0.05% | 0.42% |
| HDFC Asset Management Co Ltd | 0.05% | 0.35% |
| Coforge Ltd | 0.04% | 0.46% |
| Samvardhana Motherson International Ltd | 0.04% | 0.55% |
| Larsen & Toubro Ltd | 0.04% | 3.35% |
| Tata Consumer Products Ltd | 0.03% | 0.47% |
| Suzlon Energy Ltd | 0.03% | 0.36% |
| DLF Ltd | 0.02% | 0.33% |
| ICICI Lombard General Insurance Co Ltd | 0.02% | 0.30% |
| JSW Steel Ltd | 0.02% | 0.91% |
| Eternal Ltd | 0.01% | 1.76% |
| Ultratech Cement Ltd | 0.01% | 0.98% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.9% means 40.9% 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% |
| Vodafone Idea Ltd | 5.24% |
| HDFC Bank Ltd (18-Jan-2027) | 4.39% |
| Canara Bank (28-Jan-2027) | 4.38% |
| Life Insurance Corporation Of India | 3.72% |
Largest holdings only in SBI BSE 100 ETF
| Security | % of fund |
|---|---|
| Adani Ports and Special Economic Zone Ltd. | 1.07% |
| Shriram Finance Ltd. | 1.04% |
| Grasim Industries Ltd. | 0.87% |
| Eicher Motors Ltd. | 0.75% |
| TVS Motor Company Ltd. | 0.73% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JioBlackRock Arbitrage | SBI BSE 100 ETF |
|---|---|---|
| Equity | 74.1% | 100.0% |
| Debt | 8.8% | 0.0% |
| Cash and others | 17.1% | 0.0% |
Market cap of stocks
| Market cap | JioBlackRock Arbitrage | SBI BSE 100 ETF |
|---|---|---|
| Large Cap | 56.6% | 90.2% |
| Mid Cap | 13.5% | 9.7% |
| Small Cap | 3.9% | 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 | JioBlackRock Arbitrage | SBI BSE 100 ETF |
|---|---|---|
| Banks | 29.0% | 26.7% |
| IT - Software | 2.0% | 7.5% |
| Petroleum Products | 6.7% | 6.8% |
| Automobiles | 0.8% | 6.5% |
| Telecom - Services | 5.9% | 4.5% |
| Finance | 2.5% | 5.8% |
| Insurance | 3.8% | 1.3% |
| Consumer Durables | 3.1% | 2.9% |
The six largest sectors of each fund's stocks, % of the fund.
JioBlackRock Arbitrage vs SBI BSE 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JioBlackRock Arbitrage Fund | SBI BSE 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 1.99% | Not available |
| Base expense ratio (Direct) | 0.28% | 0.00% |
| Total expense ratio (Regular) | 3.26% | 0.16% |
| Base expense ratio (Regular) | 0.90% | 0.12% |
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
JioBlackRock Arbitrage Fund vs SBI BSE 100 ETF: Frequently Asked Questions
What is the difference between JioBlackRock Arbitrage Fund and SBI BSE 100 ETF?
JioBlackRock Arbitrage Fund is an Arbitrage fund, SBI BSE 100 ETF is a mutual fund, run by Jio BlackRock Mutual Fund and SBI Mutual Fund. Their portfolios overlap 40.9%. JioBlackRock Arbitrage Fund charges 1.99% a year and SBI BSE 100 ETF 0.16%.
Which has the lower expense ratio, JioBlackRock Arbitrage Fund or SBI BSE 100 ETF?
SBI BSE 100 ETF charges less: 0.16% a year against 1.99%. These are the total expense ratios reported to AMFI.
How much do JioBlackRock Arbitrage Fund and SBI BSE 100 ETF overlap?
40.9%. They hold 71 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Can I invest in both JioBlackRock Arbitrage Fund and SBI BSE 100 ETF?
Yes. 40.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
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.