Kotak Arbitrage Fund vs Old Bridge Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Kotak Arbitrage Fund and Old Bridge Arbitrage Fund are both Arbitrage funds. Kotak Arbitrage Fund charges 2.31% a year and Old Bridge Arbitrage Fund 1.09% (Direct plans). Their portfolios overlap 38.6%: they hold 86 of the same securities.
Which is better, Kotak Arbitrage or Old Bridge Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Old Bridge Arbitrage costs less: 1.09% a year against 2.31% (Direct plans).
- Kotak Arbitrage fell less in its worst fall since 14-11-2025: −0.5% against −0.7%.
- Old Bridge Arbitrage holds more in large companies: 64.1% of the fund in large caps against 52.1%.
- Kotak Arbitrage is the larger fund: ₹75,275 Cr against ₹254 Cr.
- Their portfolios overlap 38.6%: 86 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 | Kotak Arbitrage Fund | Old Bridge Arbitrage Fund |
|---|---|---|
| Fund house | Kotak Mahindra Mutual Fund | Old Bridge Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹75,275 Cr (30-09-2026) | ₹254 Cr (30-09-2026) |
| NAV | ₹43.60 (Direct) | ₹10.62 (Direct) |
| Expense ratio (Direct) | 2.31% | 1.09% |
| Expense ratio (Regular) | 2.89% | 1.94% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage Index | Nifty 50 Arbitrage TRI |
| Launch date | 29-09-2005 | 13-11-2025 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Hiten Shah | Kenneth Joseph Andrade |
| Exit load | Exit load of 0.25% if redeemed within 30 days | Exit load of 0.25%, if redeemed within 7 Days. |
Kotak Arbitrage vs Old Bridge 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 |
|---|---|---|---|---|---|---|---|
| Kotak Arbitrage Fund (Direct) | +0.55% | +1.55% | +3.29% | +6.75% | +7.43% | +6.98% | +6.46% |
| Old Bridge Arbitrage Fund (Direct) | +0.55% | +1.49% | +3.19% | -- | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | -- | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Kotak Arbitrage vs Old Bridge Arbitrage: Year-wise Returns
| Year | KotakKotak Arbitrage | Old BridgeOld Bridge Arbitrage |
|---|---|---|
| 2026to date | +5.53% | +5.31% |
| 2025 | +7.06% | -- |
| 2024 | +8.47% | -- |
| 2023 | +8.01% | -- |
| 2022 | +5.14% | -- |
| 2021 | +4.56% | -- |
Kotak Arbitrage vs Old Bridge Arbitrage: Rolling Returns
Every holding period of both funds
Kotak Arbitrage vs Old Bridge Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Kotak Arbitrage Fund (Direct) | Old Bridge Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.07% | +6.43% |
| Standard deviation | 1.02% | 1.68% |
| Sharpe ratio | 1.00 | 0.71 |
| Sortino ratio | 1.52 | 1.06 |
| Maximum drawdown | −0.6% (03-06-2020) | −0.7% (29-05-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 07-01-2013 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.
Kotak Arbitrage Fund (Direct)
Old Bridge Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Kotak Arbitrage Fund (Direct) | −0.5% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.0% |
| Old Bridge Arbitrage Fund (Direct) | −0.7% | 18-05-2026 | 29-05-2026 | 04-06-2026 | 6 days | −0.1% |
From daily values since 14-11-2025, the first day every fund has.
Kotak Arbitrage vs Old Bridge Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Kotak Arbitrage Fund, September 2026; Old Bridge Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 38.6%
- Held by both
- 86
- Only in Kotak Arbitrage
- 108
- Only in Old Bridge Arbitrage
- 11
| Security | % of Kotak Arbitrage | % of Old Bridge Arbitrage |
|---|---|---|
| ICICI BANK LTD. | 4.17% | 5.25% |
| RELIANCE INDUSTRIES LTD. | 3.06% | 5.43% |
| AXIS BANK LTD. | 2.94% | 2.36% |
| HDFC BANK LTD. | 2.03% | 4.76% |
| Tata Steel Ltd. | 1.53% | 2.44% |
| BHARTI AIRTEL LTD. | 1.45% | 3.72% |
| STATE BANK OF INDIA. | 1.35% | 1.33% |
| Hindalco Industries Ltd. | 1.31% | 1.22% |
| Divis Laboratories Ltd. | 0.96% | 1.28% |
| Power Finance Corporation Ltd. | 0.80% | 0.88% |
| Coal India Limited | 1.18% | 0.79% |
| JSW Steel Ltd. | 0.74% | 1.47% |
| BANK OF BARODA | 0.69% | 0.90% |
| TATA CONSUMER PRODUCTS LTD. | 0.67% | 1.30% |
| SWIGGY LTD | 0.75% | 0.65% |
| Indus Towers Ltd. | 0.65% | 3.73% |
| APL Apollo Tubes Ltd | 0.61% | 0.88% |
| SHRIRAM FINANCE LIMITED | 0.59% | 2.97% |
| Hindustan Unilever Ltd. | 0.57% | 0.56% |
| CANARA BANK | 0.55% | 1.18% |
| INDIAN HOTELS CO LTD | 0.52% | 0.83% |
| BAJAJ FINANCE LTD. | 1.20% | 0.48% |
| IDFC FIRST BANK LIMITED | 0.47% | 2.23% |
| KOTAK MAHINDRA BANK LTD. | 0.47% | 0.59% |
| Varun Beverages Limited | 0.46% | 0.96% |
| AMBUJA CEMENTS LTD. | 0.44% | 0.44% |
| GAIL (India) Ltd. | 0.44% | 0.48% |
| NTPC LTD | 0.64% | 0.42% |
| Jindal Steel & Power Ltd | 0.41% | 0.48% |
| YES BANK LTD. | 0.56% | 0.39% |
| ITC Ltd. | 0.85% | 0.38% |
| BHARAT FORGE LTD. | 0.36% | 0.49% |
| Hindustan Aeronautics Ltd. | 0.35% | 1.21% |
| Apollo Hospitals Enterprise Ltd. | 0.35% | 1.05% |
| JIO FINANCIAL SERVICES LTD | 0.34% | 1.23% |
| HDFC Life Insurance Company Ltd | 0.33% | 0.84% |
| BIOCON LTD. | 0.32% | 0.55% |
| Glenmark Pharmaceuticals Ltd | 0.30% | 1.76% |
| NMDC Ltd. | 0.41% | 0.29% |
| Larsen and Toubro Ltd. | 0.29% | 0.80% |
| HDFC ASSET MANAGEMENT COMPANY LTD. | 0.28% | 1.89% |
| LIC HOUSING FINANCE LTD. | 0.27% | 1.11% |
| GODREJ PROPERTIES LIMITED | 0.40% | 0.25% |
| Tata Power Company Ltd. | 0.25% | 1.52% |
| UNION BANK OF INDIA | 0.25% | 0.27% |
| Bajaj Finserv Ltd. | 0.25% | 0.80% |
| Crompton Greaves Consumer Electricals Limited | 0.23% | 0.64% |
| Fortis Healthcare India Ltd | 0.22% | 0.42% |
| UPL Ltd | 0.27% | 0.20% |
| MARICO LTD. | 0.34% | 0.19% |
| BANK OF INDIA | 0.19% | 0.51% |
| Bharat Heavy Electricals Ltd. | 0.18% | 1.93% |
| SUN PHARMACEUTICAL INDUSTRIES LTD. | 0.17% | 0.58% |
| PUNJAB NATIONAL BANK | 0.17% | 1.46% |
| Ultratech Cement Ltd. | 0.16% | 1.36% |
| Ashok Leyland Ltd. | 0.35% | 0.15% |
| Infosys Ltd. | 1.25% | 0.14% |
| DELHIVERY LTD | 0.36% | 0.13% |
| ETERNAL LIMITED | 0.13% | 0.18% |
| Bharat Electronics Ltd. | 0.12% | 0.24% |
| Info Edge India Ltd. | 0.59% | 0.11% |
| Oil And Natural Gas Corporation Ltd. | 0.11% | 0.14% |
| Grasim Industries Ltd. | 0.09% | 0.21% |
| GMR AIRPORTS LIMITED | 0.09% | 0.39% |
| United Spirits Ltd | 0.09% | 0.09% |
| SRF LTD. | 0.22% | 0.08% |
| Asian Paints(India) Ltd. | 0.08% | 0.43% |
| Pidilite Industries Ltd. | 0.08% | 0.20% |
| Maruti Suzuki India Limited | 0.66% | 0.07% |
| Mahindra & Mahindra Ltd. | 0.46% | 0.07% |
| Container Corporation of India Ltd. | 0.14% | 0.07% |
| PHOENIX MILLS LTD. | 0.07% | 0.08% |
| Colgate- Palmolive (India) Ltd. | 0.07% | 0.11% |
| SBI Life Insurance Company Ltd | 0.15% | 0.05% |
| CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD. | 0.88% | 0.04% |
| Aurobindo Pharma Ltd. | 0.39% | 0.04% |
| INOX WIND LIMITED | 0.04% | 0.05% |
| Adani Ports and Special Economic Zone Limited | 0.04% | 0.07% |
| Inter Globe Aviation Ltd | 0.34% | 0.03% |
| BHARAT PETROLEUM CORPORATION LTD. | 0.44% | 0.02% |
| Indian Energy Exchange Ltd. | 0.12% | 0.02% |
| CG Power and Industrial Solutions Ltd. | 0.02% | 0.29% |
| PB Fintech Ltd. | 0.67% | 0.01% |
| Dabur India Ltd. | 0.01% | 0.47% |
| GODREJ CONSUMER PRODUCTS LTD. | 0.01% | 0.25% |
| Hero MotoCorp Ltd. | 0.01% | 0.09% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.6% means 38.6% 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 Kotak Arbitrage Fund
| Security | % of fund |
|---|---|
| Kotak Money Market Fund Direct Growth | 9.78% |
| Kotak Savings Fund Direct Growth | 4.98% |
| Kotak Ultra Short to Short Term Fund | 3.86% |
| Kotak Liquid Direct Growth | 3.13% |
| HDFC BANK LTD. | 1.94% |
Largest holdings only in Old Bridge Arbitrage Fund
| Security | % of fund |
|---|---|
| 364 Days Tbill (MD 13/05/2027) | 5.70% |
| 182 Days Tbill (MD 19/11/2026) | 1.96% |
| 364 Days Tbill (MD 17/12/2026) | 1.95% |
| 182 Days Tbill (MD 04/02/2027) | 1.93% |
| Multi Commodity Exchange of India Limited | 0.82% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Kotak Arbitrage | Old Bridge Arbitrage |
|---|---|---|
| Equity | 71.1% | 79.4% |
| Debt | 5.8% | 11.5% |
| Cash and others | 23.1% | 9.1% |
Market cap of stocks
| Market cap | Kotak Arbitrage | Old Bridge Arbitrage |
|---|---|---|
| Large Cap | 52.1% | 64.1% |
| Mid Cap | 16.4% | 13.3% |
| Small Cap | 2.6% | 1.9% |
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 | Kotak Arbitrage | Old Bridge Arbitrage |
|---|---|---|
| Banks | 14.4% | 22.2% |
| Finance | 5.7% | 7.5% |
| Telecom - Services | 3.4% | 7.5% |
| Petroleum Products | 4.6% | 5.5% |
| Ferrous Metals | 3.0% | 4.4% |
| Pharmaceuticals and Biotechnology | 4.2% | 0.0% |
| Pharmaceuticals & Biotechnology | 0.0% | 4.2% |
| Power | 3.9% | 2.5% |
| IT - Software | 3.8% | 0.1% |
The six largest sectors of each fund's stocks, % of the fund.
Kotak Arbitrage vs Old Bridge Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Kotak Arbitrage Fund | Old Bridge Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 2.31% | 1.09% |
| Base expense ratio (Direct) | 0.33% | 0.12% |
| Total expense ratio (Regular) | 2.89% | 1.94% |
| Base expense ratio (Regular) | 0.83% | 0.84% |
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 Kotak Arbitrage with
Kotak Arbitrage Fund vs Old Bridge Arbitrage Fund: Frequently Asked Questions
What is the difference between Kotak Arbitrage Fund and Old Bridge Arbitrage Fund?
Both are Arbitrage funds, run by Kotak Mahindra Mutual Fund and Old Bridge Mutual Fund. Their portfolios overlap 38.6%. Kotak Arbitrage Fund charges 2.31% a year and Old Bridge Arbitrage Fund 1.09%.
Which has the lower expense ratio, Kotak Arbitrage Fund or Old Bridge Arbitrage Fund?
Old Bridge Arbitrage Fund charges less: 1.09% a year against 2.31%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Kotak Arbitrage Fund and Old Bridge Arbitrage Fund overlap?
38.6%. They hold 86 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, Kotak Arbitrage Fund or Old Bridge Arbitrage Fund?
On SEBI's riskometer, Kotak Arbitrage Fund is rated Low and Old Bridge Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.02% and 1.68% a year.
Can I invest in both Kotak Arbitrage Fund and Old Bridge Arbitrage Fund?
Yes. 38.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Kotak Arbitrage Fund and Old Bridge Arbitrage Fund?
Kotak Arbitrage Fund: Hiten Shah. Old Bridge Arbitrage Fund: Kenneth Joseph Andrade.
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.