JioBlackRock Large Cap Fund vs Zerodha Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
JioBlackRock Large Cap Fund is a Large Cap fund and Zerodha Arbitrage Fund is an Arbitrage fund. JioBlackRock Large Cap Fund charges 1.33% a year and Zerodha Arbitrage Fund 2.31% (Direct plans). Their portfolios overlap 34.9%: they hold 28 of the same securities.
Which is better, JioBlackRock Large Cap or Zerodha 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 Large Cap costs less: 1.33% a year against 2.31% (Direct plans).
- Zerodha Arbitrage fell less in its worst fall since 20-08-2026: −0.3% against −8.8%.
- JioBlackRock Large Cap holds more in large companies: 82.5% of the fund in large caps against 47.0%.
- Zerodha Arbitrage is the larger fund: ₹47 Cr against ₹47 Cr.
- Their portfolios overlap 34.9%: 28 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 Large Cap Fund | Zerodha Arbitrage Fund |
|---|---|---|
| Fund house | Jio BlackRock Mutual Fund | Zerodha Mutual Fund |
| Category | Large Cap | Arbitrage |
| AUM | ₹47 Cr (30-09-2026) | ₹47 Cr (30-09-2026) |
| NAV | ₹9.42 (Direct) | ₹10.12 (Direct) |
| Expense ratio (Direct) | 1.33% | 2.31% |
| Expense ratio (Regular) | 2.41% | Not available |
| Riskometer | Very High | Low |
| Benchmark | BSE 100 TRI | Nifty 50 Arbitrage TRI |
| Launch date | 10-04-2026 | 18-08-2026 |
| Minimum investment | ₹500 | Lumpsum: ?5000 and in multiples of ‘any amount’ thereafter SIP: ?1000 and in multiples of ‘any amount’ thereafter. |
| Lock in | None | None |
| Fund managers | Sahil Chaudhary, Tanvi Kacheria | Kedarnath Mirajkar |
| Exit load | Nil | Nil |
JioBlackRock Large Cap vs Zerodha 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 Large Cap Fund (Direct) | −0.26% | −6.44% | −5.00% | -- | -- | -- | -- |
| Zerodha Arbitrage Fund (Direct) | +0.62% | -- | -- | -- | -- | -- | -- |
| Large Cap average | +0.62% | −4.36% | −1.05% | -- | -- | -- | -- |
| Arbitrage average | +0.56% | -- | -- | -- | -- | -- | -- |
Category average: the average of the 35 Large Cap funds and the 39 Arbitrage funds, same plan type.
JioBlackRock Large Cap vs Zerodha Arbitrage: Rolling Returns
Every holding period of both funds, against BSE 100 TRI, the benchmark of JioBlackRock Large Cap Fund
JioBlackRock Large Cap vs Zerodha Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JioBlackRock Large Cap Fund (Direct) | Zerodha Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −11.53% | +6.28% |
| Standard deviation | 11.36% | 1.82% |
| Sharpe ratio | -1.48 | 0.56 |
| Sortino ratio | -1.94 | 0.82 |
| Maximum drawdown | −9.8% (08-10-2026) | −0.3% (04-09-2026) |
| Beta | 0.94 | -- |
| Alpha | −5.89% | -- |
From daily NAVs, 16-04-2026 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 Large Cap Fund (Direct)
Zerodha Arbitrage Fund (Direct)
BSE 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JioBlackRock Large Cap Fund (Direct) | −8.8% | 25-08-2026 | 08-10-2026 | Not yet | -- | −7.2% |
| Zerodha Arbitrage Fund (Direct) | −0.3% | 31-08-2026 | 04-09-2026 | 18-09-2026 | 14 days | −0.0% |
| BSE 100 TRI | −8.7% | 25-08-2026 | 08-10-2026 | Not yet | -- | −6.0% |
From daily values since 20-08-2026, the first day every fund has.
JioBlackRock Large Cap vs Zerodha Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: JioBlackRock Large Cap Fund, September 2026; Zerodha Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 34.9%
- Held by both
- 28
- Only in JioBlackRock Large Cap
- 46
- Only in Zerodha Arbitrage
- 23
| Security | % of JioBlackRock Large Cap | % of Zerodha Arbitrage |
|---|---|---|
| HDFC Bank Ltd | 7.38% | 8.18% |
| ICICI Bank Ltd | 7.64% | 4.36% |
| Bharti Airtel Ltd | 6.25% | 2.50% |
| Reliance Industries Ltd | 4.49% | 2.16% |
| Tata Steel Ltd | 3.53% | 2.06% |
| Infosys Ltd | 2.01% | 1.96% |
| Life Insurance Corporation Of India | 2.34% | 1.89% |
| Coal India Ltd | 1.79% | 2.21% |
| Axis Bank Ltd | 1.45% | 2.30% |
| GAIL (India) Ltd | 1.25% | 1.30% |
| ITC Ltd | 1.15% | 2.04% |
| Bajaj Finance Ltd | 1.70% | 1.08% |
| HCL Technologies Ltd | 1.40% | 1.05% |
| State Bank of India | 5.56% | 0.92% |
| Tata Consultancy Services Ltd | 1.82% | 0.79% |
| TVS Motor Co Ltd | 0.89% | 0.62% |
| Federal Bank Ltd | 0.47% | 3.91% |
| IDFC First Bank Ltd | 0.43% | 2.59% |
| HDFC Asset Management Co Ltd | 0.84% | 0.29% |
| Divi's Laboratories Ltd | 0.22% | 0.40% |
| Marico Ltd | 0.79% | 0.20% |
| Coforge Ltd | 0.18% | 1.07% |
| Hero MotoCorp Ltd | 1.27% | 0.17% |
| Adani Power Ltd | 0.34% | 0.16% |
| Nestle India Ltd | 1.98% | 0.14% |
| Indus Towers Ltd | 0.13% | 2.31% |
| Power Finance Corporation Ltd | 1.22% | 0.09% |
| Pidilite Industries Ltd | 0.05% | 0.16% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 34.9% means 34.9% 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 Large Cap Fund
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Ltd | 3.84% |
| Oil & Natural Gas Corporation Ltd | 2.71% |
| Larsen & Toubro Ltd | 2.45% |
| Titan Co Ltd | 2.41% |
| Lupin Ltd | 2.08% |
Largest holdings only in Zerodha Arbitrage Fund
| Security | % of fund |
|---|---|
| HSBC Liquid Fund - Direct Growth | 12.88% |
| 364 Days Treasury Bill 12-Aug-2027 | 10.17% |
| Crompton Greaves Consumer Electricals Limited | 2.78% |
| Bank of Baroda | 2.45% |
| PNB Housing Finance Limited | 2.34% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JioBlackRock Large Cap | Zerodha Arbitrage |
|---|---|---|
| Equity | 99.6% | 68.5% |
| Debt | 0.0% | 10.2% |
| Cash and others | 0.4% | 21.4% |
Market cap of stocks
| Market cap | JioBlackRock Large Cap | Zerodha Arbitrage |
|---|---|---|
| Large Cap | 82.5% | 47.0% |
| Mid Cap | 15.9% | 16.4% |
| Small Cap | 1.2% | 5.1% |
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 Large Cap | Zerodha Arbitrage |
|---|---|---|
| Banks | 26.1% | 28.2% |
| Telecom - Services | 6.4% | 4.8% |
| IT - Software | 6.4% | 5.4% |
| Automobiles | 6.3% | 2.9% |
| Petroleum Products | 6.2% | 2.2% |
| Ferrous Metals | 5.1% | 2.1% |
| Finance | 4.1% | 3.8% |
| Retailing | 0.3% | 3.0% |
The six largest sectors of each fund's stocks, % of the fund.
JioBlackRock Large Cap vs Zerodha Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JioBlackRock Large Cap Fund | Zerodha Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.33% | 2.31% |
| Base expense ratio (Direct) | 0.50% | 0.20% |
| Total expense ratio (Regular) | 2.41% | Not available |
| Base expense ratio (Regular) | 1.61% | 0.00% |
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 Large Cap with
JioBlackRock Large Cap Fund vs Zerodha Arbitrage Fund: Frequently Asked Questions
What is the difference between JioBlackRock Large Cap Fund and Zerodha Arbitrage Fund?
JioBlackRock Large Cap Fund is a Large Cap fund, Zerodha Arbitrage Fund is an Arbitrage fund, run by Jio BlackRock Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 34.9%. JioBlackRock Large Cap Fund charges 1.33% a year and Zerodha Arbitrage Fund 2.31%.
Which has the lower expense ratio, JioBlackRock Large Cap Fund or Zerodha Arbitrage Fund?
JioBlackRock Large Cap Fund charges less: 1.33% a year against 2.31%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JioBlackRock Large Cap Fund and Zerodha Arbitrage Fund overlap?
34.9%. They hold 28 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, JioBlackRock Large Cap Fund or Zerodha Arbitrage Fund?
On SEBI's riskometer, JioBlackRock Large Cap Fund is rated Very High and Zerodha Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 11.36% and 1.82% a year.
Can I invest in both JioBlackRock Large Cap Fund and Zerodha Arbitrage Fund?
Yes. 34.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JioBlackRock Large Cap Fund and Zerodha Arbitrage Fund?
JioBlackRock Large Cap Fund: Sahil Chaudhary, Tanvi Kacheria. Zerodha Arbitrage Fund: Kedarnath Mirajkar.
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.