JM Arbitrage Fund vs quant Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Arbitrage Fund and quant Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, JM Arbitrage Fund (Direct) returned 6.4% and quant Arbitrage Fund (Direct) returned 7.6%. JM Arbitrage Fund charges 1.42% a year and quant Arbitrage Fund 1.60% (Direct plans). Their portfolios overlap 34.9%: they hold 71 of the same securities.
Which is better, JM Arbitrage or quant Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- quant Arbitrage returned more over 1 year: 7.6% against 6.4%.
- JM Arbitrage costs less: 1.42% a year against 1.60% (Direct plans).
- quant Arbitrage fell less in its worst fall since 07-04-2025: −0.4% against −0.5%.
- quant Arbitrage is the larger fund: ₹1,007 Cr against ₹341 Cr.
- Their portfolios overlap 34.9%: 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 | JM Arbitrage Fund | quant Arbitrage Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | quant Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹341 Cr (30-09-2026) | ₹1,007 Cr (30-09-2026) |
| NAV | ₹37.71 (Direct) | ₹11.19 (Direct) |
| Expense ratio (Direct) | 1.42% | 1.60% |
| Expense ratio (Regular) | 2.07% | 2.25% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage Index | Nifty 50 Arbitrage TRI |
| Launch date | 18-07-2006 | 04-04-2025 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar | Sameer Kate, Yug Tibrewal, Sanjeev Sharma |
| Exit load | 0.5% of NAV on all investment (including SIP/STP/SWP) transactions, if redeemed / switched - out within 30 days of transfer / allotment of units in normal transactions / allotment of units of respective installments in SIP/STP/SWP transactions. | Exit load of 0.25%, if redeemed within 1 month. |
JM Arbitrage vs quant 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 |
|---|---|---|---|---|---|---|---|
| JM Arbitrage Fund (Direct) | +0.52% | +1.53% | +3.14% | +6.43% | +6.94% | +6.44% | +5.63% |
| quant Arbitrage Fund (Direct) | +0.51% | +1.68% | +3.63% | +7.56% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
JM Arbitrage vs quant Arbitrage: Year-wise Returns
| Year | JMJM Arbitrage | quantquant Arbitrage |
|---|---|---|
| 2026to date | +5.21% | +6.22% |
| 2025 | +6.61% | -- |
| 2024 | +7.96% | -- |
| 2023 | +7.39% | -- |
| 2022 | +4.62% | -- |
| 2021 | +3.16% | -- |
JM Arbitrage vs quant Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 140 of them, one for each trading day from 07-04-2026 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
JM Arbitrage Fund (Direct)
quant Arbitrage Fund (Direct)
to
Apr 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JM Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.3% | 6.3% | 5.9% | 6.7% |
| quant Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.5% | 7.5% | 7.1% | 7.9% |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. Every fund is measured over the days all of them have, from 07-04-2025. Past returns do not promise future returns.
JM Arbitrage vs quant Arbitrage: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-04-2025 to 30-10-2026: 19 instalments, ₹1,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM ArbitrageJM Arbitrage Fund (Direct) | ₹1,90,000 | ₹1,99,930 | ₹9,930 | 6.3% |
| quant Arbitragequant Arbitrage Fund (Direct) | ₹1,90,000 | ₹2,01,679 | ₹11,679 | 7.4% |
JM ArbitrageJM Arbitrage Fund (Direct)
quant Arbitragequant Arbitrage Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
JM Arbitrage vs quant Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JM Arbitrage Fund (Direct) | quant Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.43% | +7.56% |
| Standard deviation | 1.45% | 1.46% |
| Sharpe ratio | 0.82 | 1.59 |
| Sortino ratio | 1.24 | 2.43 |
| Maximum drawdown | −0.5% (06-08-2026) | −0.4% (26-08-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2025 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.
| Measure | JM Arbitrage Fund (Direct) | quant Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.41% | +7.37% |
| Standard deviation | 1.05% | 1.29% |
| Sharpe ratio | 0.34 | 1.55 |
| Sortino ratio | 0.50 | 2.35 |
| Maximum drawdown | −0.5% (09-07-2020) | −0.4% (26-08-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 03-01-2013 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.
JM Arbitrage Fund (Direct)
quant Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| JM Arbitrage Fund (Direct) | −0.5% | 03-08-2026 | 06-08-2026 | 01-09-2026 | 26 days | −0.1% |
| quant Arbitrage Fund (Direct) | −0.4% | 24-08-2026 | 26-08-2026 | 01-09-2026 | 6 days | −0.1% |
From daily values since 07-04-2025, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
JM Arbitrage Fund (Direct)
quant Arbitrage Fund (Direct)
JM Arbitrage vs quant Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: JM Arbitrage Fund, September 2026; quant Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 34.9%
- Held by both
- 71
- Only in JM Arbitrage
- 42
- Only in quant Arbitrage
- 38
| Security | % of JM Arbitrage | % of quant Arbitrage |
|---|---|---|
| Reliance Industries Limited | 4.13% | 4.80% |
| Indus Towers Limited | 1.97% | 2.10% |
| State Bank of India | 2.60% | 1.81% |
| Varun Beverages Limited | 1.65% | 1.56% |
| Vodafone Idea Limited | 3.40% | 1.29% |
| Bharat Heavy Electricals Limited | 1.76% | 1.18% |
| Yes Bank Ltd | 1.55% | 1.18% |
| Adani Port & Special Economic Zone Ltd | 0.95% | 1.46% |
| LIC Housing Finance Limited | 0.95% | 1.44% |
| NBCC (India) Limited | 0.93% | 2.12% |
| Axis Bank Limited | 3.89% | 0.88% |
| ICICI Bank Limited | 4.54% | 0.87% |
| Maruti Suzuki India Limited | 1.28% | 0.87% |
| Bharti Airtel Limited | 0.81% | 0.86% |
| ITC Limited | 0.79% | 1.41% |
| Canara Bank | 0.88% | 0.78% |
| Adani Power Limited | 0.77% | 0.85% |
| HDFC Bank Limited | 0.70% | 2.45% |
| Bajaj Finance Limited | 1.33% | 0.69% |
| Life Insurance Corporation Of India | 1.02% | 0.66% |
| Kotak Mahindra Bank Limited | 2.94% | 0.58% |
| Manappuram Finance Limited | 0.56% | 0.77% |
| Biocon Limited | 0.54% | 1.15% |
| JSW Steel Limited | 0.67% | 0.48% |
| NMDC Limited | 1.37% | 0.45% |
| Adani Enterprises Limited | 1.92% | 0.44% |
| Glenmark Pharmaceuticals Limited | 0.41% | 0.68% |
| Divi's Laboratories Limited | 0.41% | 0.43% |
| Bajaj Finserv Limited | 0.81% | 0.41% |
| Eicher Motors Limited | 1.76% | 0.39% |
| Hindustan Unilever Limited | 0.38% | 0.83% |
| Jio Financial Services Limited | 0.87% | 0.34% |
| Adani Energy Solutions Limited | 1.09% | 0.33% |
| Aurobindo Pharma Limited | 0.32% | 0.82% |
| Info Edge (India) Limited | 0.32% | 3.03% |
| NTPC Limited | 0.27% | 1.87% |
| Punjab National Bank | 0.27% | 1.62% |
| Tata Consumer Products Limited | 0.31% | 0.25% |
| Asian Paints Limited | 1.09% | 0.24% |
| Shriram Finance Limited | 0.24% | 0.59% |
| UPL Limited | 0.24% | 1.37% |
| HDFC Asset Management Company Limited | 0.28% | 0.22% |
| Hitachi Energy India Limited | 0.63% | 0.21% |
| Steel Authority of India Limited | 1.18% | 0.20% |
| Ashok Leyland Limited | 0.27% | 0.19% |
| HDFC Life Insurance Company Limited | 0.19% | 3.19% |
| Adani Green Energy Limited | 0.18% | 0.52% |
| APL Apollo Tubes Limited | 0.18% | 0.21% |
| Bandhan Bank Limited | 1.90% | 0.18% |
| Godrej Properties Limited | 0.98% | 0.17% |
| Bharat Petroleum Corporation Limited | 0.14% | 0.50% |
| Cummins India Limited | 0.14% | 0.28% |
| Torrent Pharmaceuticals Limited | 0.12% | 0.31% |
| Tata Steel Limited | 3.27% | 0.12% |
| Larsen & Toubro Limited | 0.77% | 0.12% |
| The Tata Power Company Limited | 0.11% | 0.43% |
| Hindustan Aeronautics Limited | 0.10% | 0.86% |
| Bharat Electronics Limited | 0.10% | 0.17% |
| Hindustan Petroleum Corporation Limited | 0.08% | 0.80% |
| Ambuja Cements Limited | 0.47% | 0.07% |
| Union Bank of India | 0.07% | 0.62% |
| Cholamandalam Invest & Finance Co Ltd | 0.06% | 1.61% |
| GMR Airports Limited | 0.06% | 0.51% |
| Indian Oil Corporation Limited | 0.06% | 0.05% |
| UltraTech Cement Limited | 0.05% | 0.28% |
| GE Vernova T&D India Limited | 0.05% | 0.70% |
| DLF Limited | 0.04% | 0.81% |
| Computer Age Management Services Limited | 0.03% | 0.10% |
| Dabur India Limited | 0.03% | 0.46% |
| Bank of India | 0.02% | 0.20% |
| KALYAN JEWELLERS INDIA LIMITED | 0.07% | 0.01% |
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 JM Arbitrage Fund
| Security | % of fund |
|---|---|
| JM Financial Mutual Fund | 7.82% |
| IDFC First Bank Limited | 1.73% |
| 364 Days Treasury Bill 06-Nov-2026 | 1.46% |
| 182 Days Treasury Bill 19-Nov-2026 | 1.46% |
| 364 Days Treasury Bill 03-Dec-2026 | 1.45% |
Largest holdings only in quant Arbitrage Fund
| Security | % of fund |
|---|---|
| TREPS 01-Oct-2026 DEPO 10 | 7.26% |
| SIDBI CD 25-Mar-2027 | 4.80% |
| Zydus Lifesciences Limited | 3.82% |
| Oil and Natural Gas Corporation Ltd. | 2.38% |
| SWIGGY LIMITED | 2.33% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Arbitrage | quant Arbitrage |
|---|---|---|
| Equity | 77.1% | 76.4% |
| Debt | 7.3% | 28.6% |
| Cash and others | 15.6% | -5.0% |
Market cap of stocks
| Market cap | JM Arbitrage | quant Arbitrage |
|---|---|---|
| Large Cap | 57.7% | 48.1% |
| Mid Cap | 13.0% | 21.4% |
| Small Cap | 6.4% | 6.9% |
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 | JM Arbitrage | quant Arbitrage |
|---|---|---|
| Banks | 23.7% | 11.2% |
| Pharmaceuticals & Biotechnology | 3.4% | 7.3% |
| Finance | 6.3% | 5.8% |
| Telecom - Services | 6.2% | 4.3% |
| Petroleum Products | 4.4% | 6.2% |
| Retailing | 0.4% | 5.5% |
| Ferrous Metals | 5.1% | 1.0% |
| Power | 2.6% | 4.4% |
| Automobiles | 4.1% | 1.3% |
The six largest sectors of each fund's stocks, % of the fund.
JM Arbitrage vs quant Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Arbitrage Fund | quant Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.42% | 1.60% |
| Base expense ratio (Direct) | 0.35% | 0.28% |
| Total expense ratio (Regular) | 2.07% | 2.25% |
| Base expense ratio (Regular) | 0.91% | 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 JM Arbitrage with
JM Arbitrage Fund vs quant Arbitrage Fund: Frequently Asked Questions
What is the difference between JM Arbitrage Fund and quant Arbitrage Fund?
Both are Arbitrage funds, run by JM Financial Mutual Fund and quant Mutual Fund. Their portfolios overlap 34.9%. JM Arbitrage Fund charges 1.42% a year and quant Arbitrage Fund 1.60%.
Which has given higher returns, JM Arbitrage Fund or quant Arbitrage Fund?
Over 1 year: JM Arbitrage Fund +6.43%, quant Arbitrage Fund +7.56%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JM Arbitrage Fund or quant Arbitrage Fund?
JM Arbitrage Fund charges less: 1.42% a year against 1.60%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Arbitrage Fund and quant Arbitrage Fund overlap?
34.9%. They hold 71 of the same securities, the largest shared ones being RELIANCE, INDUSTOWER, SBIN. From each fund's latest monthly portfolio.
Which is riskier, JM Arbitrage Fund or quant Arbitrage Fund?
On SEBI's riskometer, JM Arbitrage Fund is rated Low and quant Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 1.45% and 1.46% a year.
Can I invest in both JM Arbitrage Fund and quant 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 JM Arbitrage Fund and quant Arbitrage Fund?
JM Arbitrage Fund: Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar. quant Arbitrage Fund: Sameer Kate, Yug Tibrewal, Sanjeev Sharma.
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.