Motilal Oswal Arbitrage Fund vs Tata Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Motilal Oswal Arbitrage Fund and Tata Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, Motilal Oswal Arbitrage Fund (Direct) returned 7.0% and Tata Arbitrage Fund (Direct) returned 6.8%. Motilal Oswal Arbitrage Fund charges 0.99% a year and Tata Arbitrage Fund 1.57% (Direct plans). Their portfolios overlap 35.6%: they hold 106 of the same securities.
Motilal Oswal Arbitrage Fund
Arbitrage
- 1 year return
- 7.0%
- Expense ratio
- 0.99%
- NAV
- ₹11.37
Which is better, Motilal Oswal Arbitrage or Tata Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Motilal Oswal Arbitrage returned more over 1 year: 7.0% against 6.8%.
- Motilal Oswal Arbitrage costs less: 0.99% a year against 1.57% (Direct plans).
- Motilal Oswal Arbitrage fell less in its worst fall since 27-12-2024: −0.4% against −0.4%.
- Tata Arbitrage is the larger fund: ₹24,539 Cr against ₹3,434 Cr.
- Their portfolios overlap 35.6%: 106 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 | Motilal Oswal Arbitrage Fund | Tata Arbitrage Fund |
|---|---|---|
| Fund house | Motilal Oswal Mutual Fund | Tata Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹3,434 Cr (30-09-2026) | ₹24,539 Cr (30-09-2026) |
| NAV | ₹11.37 (Direct) | ₹16.46 (Direct) |
| Expense ratio (Direct) | 0.99% | 1.57% |
| Expense ratio (Regular) | 1.98% | 2.25% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 23-12-2024 | 18-12-2018 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Vishal Ashar, Atul Mehra, Rakesh Shetty | Sailesh Jain |
| Exit load | 0.25% - If redeemed within 30 days from the day of allotment. Nil - If redeemed after 30 days from the date of allotment. | Exit load of 0.25%, if redeemed within 15 days. |
Motilal Oswal Arbitrage vs Tata 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 |
|---|---|---|---|---|---|---|---|
| Motilal Oswal Arbitrage Fund (Direct) | +0.48% | +1.54% | +3.30% | +6.98% | -- | -- | -- |
| Tata Arbitrage Fund (Direct) | +0.50% | +1.52% | +3.24% | +6.77% | +7.43% | +6.90% | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Motilal Oswal Arbitrage vs Tata Arbitrage: Year-wise Returns
| Year | Motilal OswalMotilal Oswal Arbitrage | TataTata Arbitrage |
|---|---|---|
| 2026to date | +5.62% | +5.46% |
| 2025 | +7.46% | +7.26% |
| 2024 | -- | +8.36% |
| 2023 | -- | +7.93% |
| 2022 | -- | +4.86% |
| 2021 | -- | +4.54% |
Motilal Oswal Arbitrage vs Tata Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 206 of them, one for each trading day from 29-12-2025 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.
Motilal Oswal Arbitrage Fund (Direct)
Tata Arbitrage Fund (Direct)
to
Jan 2026Mar 2025
to
Mar 2026May 2025
to
May 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Motilal Oswal Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.2% | 7.2% | 6.7% | 7.6% |
| Tata Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.9% | 6.8% | 6.3% | 7.3% |
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 27-12-2024. Past returns do not promise future returns.
Motilal Oswal Arbitrage vs Tata 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 27-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Motilal Oswal ArbitrageMotilal Oswal Arbitrage Fund (Direct) | ₹2,30,000 | ₹2,45,995 | ₹15,995 | 6.9% |
| Tata ArbitrageTata Arbitrage Fund (Direct) | ₹2,30,000 | ₹2,45,524 | ₹15,524 | 6.7% |
Motilal Oswal ArbitrageMotilal Oswal Arbitrage Fund (Direct)
Tata ArbitrageTata 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.
Motilal Oswal Arbitrage vs Tata Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Motilal Oswal Arbitrage Fund (Direct) | Tata Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.98% | +6.77% |
| Standard deviation | 1.39% | 1.26% |
| Sharpe ratio | 1.24 | 1.21 |
| Sortino ratio | 1.88 | 1.89 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.4% (06-08-2026) |
| 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 | Motilal Oswal Arbitrage Fund (Direct) | Tata Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.14% | +6.55% |
| Standard deviation | 1.16% | 1.01% |
| Sharpe ratio | 1.37 | 1.32 |
| Sortino ratio | 2.08 | 2.01 |
| Maximum drawdown | −0.4% (06-08-2026) | −0.6% (03-06-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 27-12-2024 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.
Motilal Oswal Arbitrage Fund (Direct)
Tata Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Motilal Oswal Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 21-08-2026 | 15 days | −0.0% |
| Tata Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.0% |
From daily values since 27-12-2024, 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.
Motilal Oswal Arbitrage Fund (Direct)
Tata Arbitrage Fund (Direct)
Motilal Oswal Arbitrage vs Tata Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Motilal Oswal Arbitrage Fund, September 2026; Tata Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 35.6%
- Held by both
- 106
- Only in Motilal Oswal Arbitrage
- 32
- Only in Tata Arbitrage
- 75
| Security | % of Motilal Oswal Arbitrage | % of Tata Arbitrage |
|---|---|---|
| HDFC Bank Limited | 5.41% | 7.89% |
| Reliance Industries Limited | 4.58% | 4.28% |
| Axis Bank Limited | 2.53% | 2.36% |
| ICICI Bank Limited | 2.28% | 4.34% |
| Vodafone Idea Limited | 1.34% | 1.50% |
| Bharti Airtel Limited | 3.63% | 1.27% |
| Steel Authority of India Limited | 1.23% | 1.31% |
| State Bank of India | 1.11% | 1.21% |
| National Bank For Agriculture and Rural Development 2027 | 0.71% | 0.80% |
| National Bank For Agriculture and Rural Development 2027 | 0.71% | 1.09% |
| Jio Financial Services Limited | 0.68% | 1.20% |
| TVS Motor Company Limited | 3.37% | 0.63% |
| Kotak Mahindra Bank Ltd | 2.39% | 0.60% |
| Adani Enterprises Limited | 1.11% | 0.59% |
| HDFC Life Insurance Company Limited | 0.57% | 0.56% |
| Bharat Electronics Limited | 0.53% | 0.68% |
| IndusInd Bank Limited | 0.75% | 0.52% |
| Bharat Heavy Electricals Limited | 0.52% | 0.90% |
| Tata Steel Limited | 0.35% | 0.74% |
| Indus Towers Limited | 0.34% | 1.21% |
| Yes Bank Limited | 0.34% | 0.40% |
| Ashok Leyland Limited | 0.97% | 0.31% |
| JSW Steel Limited | 0.31% | 0.84% |
| Kalyan Jewellers India Limited | 0.39% | 0.30% |
| Adani Green Energy Limited | 0.29% | 0.87% |
| Infosys Limited | 0.30% | 0.28% |
| Bajaj Finance Ltd | 1.72% | 0.27% |
| ITC Limited | 0.50% | 0.26% |
| Cummins India Limited | 0.26% | 0.91% |
| NMDC Limited | 0.26% | 0.74% |
| Bank of Baroda | 0.25% | 0.40% |
| Divi's Laboratories Limited | 0.25% | 0.92% |
| Multi Commodity Exchange of India Limited | 0.24% | 0.43% |
| Samvardhana Motherson International Limited | 0.88% | 0.22% |
| Patanjali Foods Limited | 0.28% | 0.22% |
| HDFC Bank Limited 2027 | 0.71% | 0.20% |
| Shriram Finance Limited | 0.69% | 0.19% |
| Hindustan Unilever Limited | 0.19% | 0.83% |
| Muthoot Finance Limited | 0.27% | 0.18% |
| Marico Limited | 0.17% | 0.25% |
| Godrej Properties Limited | 0.17% | 0.49% |
| Jindal Steel Limited | 0.23% | 0.16% |
| Canara Bank | 0.16% | 1.09% |
| Mahindra & Mahindra Limited | 1.53% | 0.15% |
| LIC Housing Finance Limited | 0.15% | 0.29% |
| Crompton Greaves Consumer Electricals Limited | 0.15% | 0.39% |
| Apollo Hospitals Enterprise Limited | 0.15% | 0.19% |
| Swiggy Limited | 0.26% | 0.14% |
| Hindustan Aeronautics Limited | 0.14% | 0.61% |
| IDFC First Bank Limited | 0.14% | 0.75% |
| Life Insurance Corporation Of India | 0.14% | 0.42% |
| Bandhan Bank Limited | 0.12% | 0.67% |
| The Federal Bank Limited | 0.11% | 0.33% |
| Suzlon Energy Limited | 0.37% | 0.10% |
| Ambuja Cements Limited | 0.10% | 0.57% |
| HDFC Asset Management Company Limited | 0.10% | 0.56% |
| Biocon Limited | 0.10% | 0.47% |
| Aurobindo Pharma Limited | 0.10% | 0.30% |
| Cholamandalam Investment and Finance Company Limited | 3.49% | 0.09% |
| InterGlobe Aviation Limited | 1.74% | 0.09% |
| Supreme Industries Limited | 0.33% | 0.09% |
| UltraTech Cement Limited | 0.16% | 0.09% |
| NBCC (India) Limited | 0.09% | 0.16% |
| Aditya Birla Capital Limited | 2.15% | 0.08% |
| Maruti Suzuki India Limited | 1.73% | 0.08% |
| PG Electroplast Limited | 0.54% | 0.08% |
| Bajaj Finserv Limited | 0.43% | 0.08% |
| Hindalco Industries Limited | 0.08% | 1.08% |
| The Indian Hotels Company Limited | 0.08% | 0.36% |
| Lupin Limited | 0.08% | 0.12% |
| Coforge Limited | 0.08% | 0.58% |
| AU Small Finance Bank Limited | 3.07% | 0.07% |
| Indian Energy Exchange Limited | 0.07% | 0.19% |
| Varun Beverages Ltd | 0.07% | 0.85% |
| Info Edge India Ltd | 0.07% | 0.31% |
| Larsen & Toubro Limited | 1.19% | 0.06% |
| Asian Paints Limited | 0.18% | 0.06% |
| APL Apollo Tubes Limited | 0.06% | 0.53% |
| RBL Bank Limited | 0.77% | 0.05% |
| Central Depository Services (India) Limited | 0.40% | 0.05% |
| Cipla Limited | 0.32% | 0.05% |
| Tata Motors Passenger Vehicles Limited | 0.05% | 0.67% |
| Max Financial Services Limited | 0.05% | 0.16% |
| Adani Energy Solutions Limited | 0.04% | 0.85% |
| DLF Limited | 0.04% | 0.03% |
| Bharat Petroleum Corporation Limited | 0.03% | 0.16% |
| Tata Consumer Products Limited | 0.03% | 0.09% |
| Oil & Natural Gas Corporation Limited | 0.03% | 0.17% |
| Bharat Forge Limited | 0.03% | 0.10% |
| PNB Housing Finance Limited | 0.63% | 0.02% |
| Eicher Motors Limited | 0.21% | 0.02% |
| Vedanta Limited | 0.16% | 0.02% |
| Pidilite Industries Limited | 0.09% | 0.02% |
| GAIL (India) Limited | 0.05% | 0.02% |
| Hindustan Petroleum Corporation Limited | 0.02% | 0.02% |
| Tube Investments Of India Limited | 0.02% | 0.09% |
| One 97 Communications Limited | 1.10% | 0.01% |
| Sun Pharmaceutical Industries Limited | 0.74% | 0.01% |
| Eternal Limited | 0.43% | 0.01% |
| Grasim Industries Limited | 0.29% | 0.01% |
| Tata Consultancy Services Limited | 0.13% | 0.01% |
| Dabur India Limited | 0.01% | 0.03% |
| Titan Company Limited | 0.01% | 0.02% |
| NTPC Limited | 0.01% | 0.50% |
| Glenmark Pharmaceuticals Limited | 0.01% | 0.43% |
| Radico Khaitan Limited | 0.01% | 0.03% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.6% means 35.6% 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 Motilal Oswal Arbitrage Fund
| Security | % of fund |
|---|---|
| Motilal Oswal Liquid Fund - Direct Growth | 7.13% |
| CG Power and Industrial Solutions Limited | 2.37% |
| Motilal Oswal Ultra Short Term Fund (MOFUSTF) -Direct Plan- Growth | 2.07% |
| Inox Wind Limited | 0.87% |
| 5.74% Government of India 2026 | 0.73% |
Largest holdings only in Tata Arbitrage Fund
| Security | % of fund |
|---|---|
| TATA MONEY MARKET FUND | 12.05% |
| ** - SMALL INDUST DEVLOP BANK OF INDIA - CD - 23/10/2026 | 2.03% |
| ** - NABARD - CD - 28/01/2027 | 1.49% |
| ** - NATIONAL BANK FOR FINANCING INFRASTRUCTURE AND DEVELOPMENT - CD - 12/03/2027 | 1.38% |
| ** - SMALL INDUST DEVLOP BANK OF INDIA - CD - 25/03/2027 | 1.38% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Motilal Oswal Arbitrage | Tata Arbitrage |
|---|---|---|
| Equity | 71.3% | 64.8% |
| Debt | 14.3% | 21.7% |
| Cash and others | 14.4% | 13.5% |
Market cap of stocks
| Market cap | Motilal Oswal Arbitrage | Tata Arbitrage |
|---|---|---|
| Large Cap | 53.6% | 50.0% |
| Mid Cap | 13.5% | 12.1% |
| Small Cap | 4.2% | 2.7% |
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 | Motilal Oswal Arbitrage | Tata Arbitrage |
|---|---|---|
| Banks | 19.4% | 21.6% |
| Finance | 10.5% | 3.7% |
| Automobiles | 7.1% | 1.6% |
| Telecom - Services | 5.3% | 4.0% |
| Petroleum Products | 4.6% | 5.2% |
| Electrical Equipment | 4.2% | 1.2% |
| Power | 0.3% | 4.1% |
| Ferrous Metals | 2.1% | 3.0% |
The six largest sectors of each fund's stocks, % of the fund.
Motilal Oswal Arbitrage vs Tata Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Motilal Oswal Arbitrage Fund | Tata Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.99% | 1.57% |
| Base expense ratio (Direct) | 0.10% | 0.26% |
| Total expense ratio (Regular) | 1.98% | 2.25% |
| Base expense ratio (Regular) | 1.00% | 0.91% |
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 Motilal Oswal Arbitrage with
Motilal Oswal Arbitrage Fund vs Tata Arbitrage Fund: Frequently Asked Questions
What is the difference between Motilal Oswal Arbitrage Fund and Tata Arbitrage Fund?
Both are Arbitrage funds, run by Motilal Oswal Mutual Fund and Tata Mutual Fund. Their portfolios overlap 35.6%. Motilal Oswal Arbitrage Fund charges 0.99% a year and Tata Arbitrage Fund 1.57%.
Which has given higher returns, Motilal Oswal Arbitrage Fund or Tata Arbitrage Fund?
Over 1 year: Motilal Oswal Arbitrage Fund +6.98%, Tata Arbitrage Fund +6.77%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Motilal Oswal Arbitrage Fund or Tata Arbitrage Fund?
Motilal Oswal Arbitrage Fund charges less: 0.99% a year against 1.57%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Motilal Oswal Arbitrage Fund and Tata Arbitrage Fund overlap?
35.6%. They hold 106 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, Motilal Oswal Arbitrage Fund or Tata Arbitrage Fund?
On SEBI's riskometer, Motilal Oswal Arbitrage Fund is rated Low and Tata Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 1.39% and 1.26% a year.
Can I invest in both Motilal Oswal Arbitrage Fund and Tata Arbitrage Fund?
Yes. 35.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Motilal Oswal Arbitrage Fund and Tata Arbitrage Fund?
Motilal Oswal Arbitrage Fund: Vishal Ashar, Atul Mehra, Rakesh Shetty. Tata Arbitrage Fund: Sailesh Jain.
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.