JioBlackRock Arbitrage Fund vs UTI - Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
JioBlackRock Arbitrage Fund and UTI - Arbitrage Fund are both Arbitrage funds. JioBlackRock Arbitrage Fund charges 1.99% a year and UTI - Arbitrage Fund 1.26% (Direct plans). Their portfolios overlap 42.1%: they hold 102 of the same securities.
Which is better, JioBlackRock Arbitrage or UTI - Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI - Arbitrage costs less: 1.26% a year against 1.99% (Direct plans).
- UTI - Arbitrage fell less in its worst fall since 19-12-2025: −0.4% against −0.4%.
- JioBlackRock Arbitrage holds more in large companies: 56.6% of the fund in large caps against 46.3%.
- UTI - Arbitrage is the larger fund: ₹10,900 Cr against ₹558 Cr.
- Their portfolios overlap 42.1%: 102 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 | UTI - Arbitrage Fund |
|---|---|---|
| Fund house | Jio BlackRock Mutual Fund | UTI Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹558 Cr (30-09-2026) | ₹10,900 Cr (30-09-2026) |
| NAV | ₹10.61 (Direct) | ₹40.54 (Direct) |
| Expense ratio (Direct) | 1.99% | 1.26% |
| Expense ratio (Regular) | 3.26% | 1.81% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 21-08-2026 | 22-06-2006 |
| Minimum investment | ₹500 | Regular Plan-Growth- Rs.5000, Regular Plan - Growth-CanServe- Rs.5000, Regular Plan-Reinvestment of IDCW- Rs.5000, Regular Plan-Payout of IDCW- Rs.5000, Regular Plan-Payout of IDCW (Canserve)- Rs.5000, Direct Plan-Growth- Rs.5000, Direct Plan - Growth-Can |
| Lock in | None | None |
| Fund managers | Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R | Sharwan Kumar Goyal FM 1, Monish Lotia FM 2, Amit Sharma FM 3, Not Applicable FM 4 |
| Exit load | Nil | Exit load of 0.25%, if redeemed within 15 days. |
JioBlackRock Arbitrage vs UTI - 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% | -- | -- | -- | -- |
| UTI - Arbitrage Fund (Direct) | +0.52% | +1.50% | +3.20% | +6.59% | +7.29% | +6.74% | +6.32% |
| 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 UTI - Arbitrage: Year-wise Returns
| Year | JioBlackRockJioBlackRock Arbitrage | UTI -UTI - Arbitrage |
|---|---|---|
| 2026to date | +5.76% | +5.35% |
| 2025 | -- | +7.05% |
| 2024 | -- | +8.28% |
| 2023 | -- | +7.77% |
| 2022 | -- | +4.64% |
| 2021 | -- | +4.46% |
JioBlackRock Arbitrage vs UTI - Arbitrage: Rolling Returns
Every holding period of both funds
JioBlackRock Arbitrage vs UTI - 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) | UTI - Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.01% | +6.76% |
| Standard deviation | 1.50% | 1.00% |
| Sharpe ratio | 1.19 | 0.72 |
| Sortino ratio | 1.84 | 1.06 |
| 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)
UTI - 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% |
| UTI - Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | −0.0% |
From daily values since 19-12-2025, the first day every fund has.
JioBlackRock Arbitrage vs UTI - Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: JioBlackRock Arbitrage Fund, September 2026; UTI - Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 42.1%
- Held by both
- 102
- Only in JioBlackRock Arbitrage
- 19
- Only in UTI - Arbitrage
- 54
| Security | % of JioBlackRock Arbitrage | % of UTI - Arbitrage |
|---|---|---|
| HDFC Bank Ltd | 6.97% | 5.02% |
| Reliance Industries Ltd | 6.48% | 4.78% |
| ICICI Bank Ltd | 7.14% | 4.39% |
| Canara Bank (28-Jan-2027) | 4.38% | 2.24% |
| State Bank of India | 2.14% | 3.25% |
| Canara Bank | 4.85% | 1.95% |
| Yes Bank Ltd | 2.42% | 1.71% |
| Vodafone Idea Ltd | 5.24% | 1.52% |
| ITC Ltd | 1.62% | 1.30% |
| Life Insurance Corporation Of India | 3.72% | 1.03% |
| NMDC Ltd | 0.93% | 1.34% |
| Axis Bank Ltd | 1.22% | 0.92% |
| Infosys Ltd | 0.87% | 1.11% |
| Crompton Greaves Consumer Electricals Ltd | 1.67% | 0.75% |
| Tata Steel Ltd | 1.74% | 0.71% |
| Bank of Baroda | 1.22% | 0.69% |
| Manappuram Finance Ltd | 0.64% | 1.15% |
| IDFC First Bank Ltd | 0.62% | 0.75% |
| Bharti Airtel Ltd | 0.54% | 1.94% |
| Coal India Ltd | 0.51% | 1.02% |
| Hindalco Industries Ltd | 0.41% | 0.59% |
| Cummins India Ltd | 0.72% | 0.41% |
| Divi's Laboratories Ltd | 0.40% | 0.46% |
| Federal Bank Ltd | 1.09% | 0.36% |
| Swiggy Ltd | 1.19% | 0.35% |
| Bajaj Finance Ltd | 0.40% | 0.33% |
| IndusInd Bank Ltd | 0.70% | 0.32% |
| APL Apollo Tubes Ltd | 0.33% | 0.32% |
| Kotak Mahindra Bank Ltd | 0.27% | 1.54% |
| Ashok Leyland Ltd | 0.25% | 0.35% |
| Varun Beverages Ltd | 0.93% | 0.24% |
| Container Corporation Of India Ltd | 0.34% | 0.23% |
| Hindustan Aeronautics Ltd | 0.21% | 0.35% |
| Indian Hotels Co Ltd | 0.18% | 0.61% |
| Kalyan Jewellers India Ltd | 0.31% | 0.18% |
| Lupin Ltd | 0.26% | 0.18% |
| Maruti Suzuki India Ltd | 0.27% | 0.17% |
| Power Finance Corporation Ltd | 0.64% | 0.16% |
| Aditya Birla Capital Ltd | 0.15% | 0.54% |
| NTPC Ltd | 0.15% | 0.30% |
| JSW Energy Ltd | 0.14% | 0.16% |
| Jio Financial Services Ltd | 0.14% | 0.84% |
| Marico Ltd | 0.14% | 0.18% |
| Biocon Ltd | 0.13% | 0.38% |
| Indian Oil Corporation Ltd | 0.13% | 0.19% |
| Hindustan Unilever Ltd | 0.12% | 0.44% |
| Titan Co Ltd | 0.19% | 0.12% |
| Bharat Heavy Electricals Ltd | 0.12% | 1.28% |
| LIC Housing Finance Ltd | 0.11% | 0.71% |
| Punjab National Bank | 0.11% | 1.57% |
| Tata Power Co Ltd | 0.11% | 0.31% |
| Torrent Pharmaceuticals Ltd | 0.72% | 0.11% |
| Aurobindo Pharma Ltd | 0.10% | 0.18% |
| Indus Towers Ltd | 0.09% | 1.55% |
| AU Small Finance Bank Ltd | 0.09% | 0.51% |
| Computer Age Management Services Ltd | 0.09% | 0.09% |
| Union Bank Of India | 0.08% | 0.17% |
| Astral Ltd | 0.43% | 0.08% |
| Bajaj Auto Ltd | 0.07% | 0.13% |
| KEI Industries Ltd | 0.77% | 0.07% |
| Steel Authority of India Ltd | 0.06% | 1.81% |
| Info Edge (India) Ltd | 0.06% | 0.11% |
| Mahindra & Mahindra Ltd | 0.34% | 0.06% |
| Asian Paints Ltd | 0.09% | 0.06% |
| Ge Vernova T&D India Ltd | 0.06% | 0.31% |
| Cholamandalam Investment and Finance Co Ltd | 0.05% | 0.79% |
| Fortis Healthcare Ltd | 0.05% | 0.07% |
| UPL Ltd | 0.05% | 0.06% |
| HDFC Life Insurance Co Ltd | 0.05% | 0.31% |
| Delhivery Ltd | 0.44% | 0.05% |
| Hindustan Petroleum Corporation Ltd | 0.08% | 0.05% |
| Tata Motors Passenger Vehicles Ltd | 0.06% | 0.05% |
| HDFC Asset Management Co Ltd | 0.05% | 0.29% |
| RBL Bank Ltd | 0.05% | 0.13% |
| Coforge Ltd | 0.04% | 0.21% |
| Mphasis Ltd | 0.04% | 0.09% |
| Bharat Electronics Ltd | 0.37% | 0.04% |
| Interglobe Aviation Ltd | 0.05% | 0.04% |
| Samvardhana Motherson International Ltd | 0.04% | 0.17% |
| Larsen & Toubro Ltd | 0.04% | 0.05% |
| Sun Pharmaceutical Industries Ltd | 0.31% | 0.03% |
| National Aluminium Co Ltd | 0.29% | 0.03% |
| Radico Khaitan Ltd | 0.16% | 0.03% |
| Hero MotoCorp Ltd | 0.07% | 0.03% |
| Tata Consumer Products Ltd | 0.03% | 0.15% |
| Sagility Ltd | 0.03% | 0.03% |
| Hitachi Energy India Ltd | 0.03% | 0.04% |
| Suzlon Energy Ltd | 0.03% | 0.75% |
| Adani Power Ltd | 1.00% | 0.02% |
| Multi Commodity Exchange Of India Ltd | 0.60% | 0.02% |
| SRF Ltd | 0.40% | 0.02% |
| Tata Consultancy Services Ltd | 0.29% | 0.02% |
| SBI Cards and Payment Services Ltd | 0.12% | 0.02% |
| JSW Steel Ltd | 0.02% | 1.35% |
| Eternal Ltd | 0.01% | 0.38% |
| Alkem Laboratories Ltd | 0.01% | 0.04% |
| PG Electroplast Ltd | 0.82% | 0.01% |
| GAIL (India) Ltd | 0.05% | 0.01% |
| Ultratech Cement Ltd | 0.01% | 0.01% |
| Tube Investments of India Ltd | 0.01% | 0.02% |
| Inox Wind Ltd | 0.01% | 0.08% |
| Voltas Ltd | 0.01% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.1% means 42.1% 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% |
| Adani Enterprises Ltd | 1.57% |
| Godrej Properties Ltd | 0.70% |
Largest holdings only in UTI - Arbitrage Fund
| Security | % of fund |
|---|---|
| MF UNITS UTI-MONEY MARKET FUND | 19.58% |
| MF UNITS UTI - FLOATER FUND | 2.31% |
| CD - SMALL INDST. DEV. BANK OF INDIA - 09/02/2027 | 1.79% |
| EQ - GLENMARK PHARMACEUTICALS LTD. | 1.50% |
| CD - AXIS BANK LTD - 14/01/2027 | 1.35% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JioBlackRock Arbitrage | UTI - Arbitrage |
|---|---|---|
| Equity | 74.1% | 65.9% |
| Debt | 8.8% | 11.2% |
| Cash and others | 17.1% | 22.9% |
Market cap of stocks
| Market cap | JioBlackRock Arbitrage | UTI - Arbitrage |
|---|---|---|
| Large Cap | 56.6% | 46.3% |
| Mid Cap | 13.5% | 15.3% |
| Small Cap | 3.9% | 4.3% |
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 | UTI - Arbitrage |
|---|---|---|
| Banks | 29.0% | 24.3% |
| Petroleum Products | 6.7% | 5.1% |
| Telecom - Services | 5.9% | 5.0% |
| Finance | 2.5% | 5.0% |
| Ferrous Metals | 1.8% | 4.0% |
| Insurance | 3.8% | 1.6% |
| Pharmaceuticals & Biotechnology | 1.9% | 3.1% |
| Consumer Durables | 3.1% | 1.1% |
The six largest sectors of each fund's stocks, % of the fund.
JioBlackRock Arbitrage vs UTI - Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JioBlackRock Arbitrage Fund | UTI - Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.99% | 1.26% |
| Base expense ratio (Direct) | 0.28% | 0.26% |
| Total expense ratio (Regular) | 3.26% | 1.81% |
| Base expense ratio (Regular) | 0.90% | 0.73% |
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 UTI - Arbitrage Fund: Frequently Asked Questions
What is the difference between JioBlackRock Arbitrage Fund and UTI - Arbitrage Fund?
Both are Arbitrage funds, run by Jio BlackRock Mutual Fund and UTI Mutual Fund. Their portfolios overlap 42.1%. JioBlackRock Arbitrage Fund charges 1.99% a year and UTI - Arbitrage Fund 1.26%.
Which has the lower expense ratio, JioBlackRock Arbitrage Fund or UTI - Arbitrage Fund?
UTI - Arbitrage Fund charges less: 1.26% a year against 1.99%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JioBlackRock Arbitrage Fund and UTI - Arbitrage Fund overlap?
42.1%. They hold 102 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, JioBlackRock Arbitrage Fund or UTI - Arbitrage Fund?
On SEBI's riskometer, JioBlackRock Arbitrage Fund is rated Low and UTI - Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.50% and 1.00% a year.
Can I invest in both JioBlackRock Arbitrage Fund and UTI - Arbitrage Fund?
Yes. 42.1% 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 UTI - Arbitrage Fund?
JioBlackRock Arbitrage Fund: Anand Shah, Haresh Mehta, Mr, Siddharth Deb, Arun R. UTI - Arbitrage Fund: Sharwan Kumar Goyal FM 1, Monish Lotia FM 2, Amit Sharma FM 3, Not Applicable FM 4.
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.