Old Bridge Arbitrage Fund vs Parag Parikh Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Old Bridge Arbitrage Fund and Parag Parikh Arbitrage Fund are both Arbitrage funds. Old Bridge Arbitrage Fund charges 1.09% a year and Parag Parikh Arbitrage Fund 0.99% (Direct plans). Their portfolios overlap 42.9%: they hold 57 of the same securities.
Which is better, Old Bridge Arbitrage or Parag Parikh Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Parag Parikh Arbitrage costs less: 0.99% a year against 1.09% (Direct plans).
- Parag Parikh Arbitrage fell less in its worst fall since 14-11-2025: −0.6% against −0.7%.
- Parag Parikh Arbitrage is the larger fund: ₹2,750 Cr against ₹254 Cr.
- Their portfolios overlap 42.9%: 57 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 | Old Bridge Arbitrage Fund | Parag Parikh Arbitrage Fund |
|---|---|---|
| Fund house | Old Bridge Mutual Fund | PPFAS Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹254 Cr (30-09-2026) | ₹2,750 Cr (30-09-2026) |
| NAV | ₹10.62 (Direct) | ₹12.24 (Direct) |
| Expense ratio (Direct) | 1.09% | 0.99% |
| Expense ratio (Regular) | 1.94% | 1.39% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage TRI |
| Launch date | 13-11-2025 | 02-11-2023 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Kenneth Joseph Andrade | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar |
| Exit load | Exit load of 0.25%, if redeemed within 7 Days. | In respect of each purchase / switch-in of units, an Exit Load of 0.25% is payable if Units are redeemed/ switched-out within 30 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 30 days from the date of allotment. Any exit load charged (net off GST, if any) shall be credited back to the Scheme. |
Old Bridge Arbitrage vs Parag Parikh 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 |
|---|---|---|---|---|---|---|---|
| Old Bridge Arbitrage Fund (Direct) | +0.55% | +1.49% | +3.19% | -- | -- | -- | -- |
| Parag Parikh Arbitrage Fund (Direct) | +0.57% | +1.50% | +3.18% | +6.52% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Old Bridge Arbitrage vs Parag Parikh Arbitrage: Year-wise Returns
| Year | Old BridgeOld Bridge Arbitrage | Parag ParikhParag Parikh Arbitrage |
|---|---|---|
| 2026to date | +5.31% | +5.31% |
| 2025 | -- | +6.62% |
| 2024 | -- | +7.77% |
Old Bridge Arbitrage vs Parag Parikh Arbitrage: Rolling Returns
Every holding period of both funds
Old Bridge Arbitrage vs Parag Parikh Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Old Bridge Arbitrage Fund (Direct) | Parag Parikh Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.43% | +6.94% |
| Standard deviation | 1.68% | 1.11% |
| Sharpe ratio | 0.71 | 0.83 |
| Sortino ratio | 1.06 | 1.25 |
| Maximum drawdown | −0.7% (29-05-2026) | −0.6% (06-08-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 14-11-2025 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.
Old Bridge Arbitrage Fund (Direct)
Parag Parikh Arbitrage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Old Bridge Arbitrage Fund (Direct) | −0.7% | 18-05-2026 | 29-05-2026 | 04-06-2026 | 6 days | −0.1% |
| Parag Parikh Arbitrage Fund (Direct) | −0.6% | 03-08-2026 | 06-08-2026 | 01-09-2026 | 26 days | 0.0% |
From daily values since 14-11-2025, the first day every fund has.
Old Bridge Arbitrage vs Parag Parikh Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Old Bridge Arbitrage Fund, September 2026; Parag Parikh Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 42.9%
- Held by both
- 57
- Only in Old Bridge Arbitrage
- 40
- Only in Parag Parikh Arbitrage
- 27
| Security | % of Old Bridge Arbitrage | % of Parag Parikh Arbitrage |
|---|---|---|
| ICICI Bank Limited | 5.25% | 6.17% |
| Reliance Industries Limited | 5.43% | 4.80% |
| HDFC Bank Limited | 4.76% | 6.38% |
| Bharti Airtel Limited | 3.72% | 4.40% |
| Axis Bank Limited | 2.36% | 4.51% |
| IDFC First Bank Limited | 2.23% | 2.24% |
| Tata Steel Limited | 2.44% | 2.06% |
| Bharat Heavy Electricals Limited | 1.93% | 2.97% |
| UltraTech Cement Limited | 1.36% | 1.69% |
| State Bank of India | 1.33% | 2.38% |
| Canara Bank | 1.18% | 5.28% |
| Punjab National Bank | 1.46% | 1.04% |
| Hindustan Aeronautics Limited | 1.21% | 0.95% |
| Bank of Baroda | 0.90% | 0.78% |
| Kotak Mahindra Bank Ltd | 0.59% | 3.75% |
| The Indian Hotels Company Limited | 0.83% | 0.58% |
| Sun Pharmaceutical Industries Limited | 0.58% | 0.99% |
| Bajaj Finance Ltd | 0.48% | 0.66% |
| Glenmark Pharmaceuticals Limited | 1.76% | 0.47% |
| Biocon Limited | 0.55% | 0.44% |
| Coal India Limited | 0.79% | 0.42% |
| NTPC Limited | 0.42% | 0.44% |
| Jio Financial Services Limited | 1.23% | 0.40% |
| Indus Towers Limited | 3.73% | 0.39% |
| GMR Airports Limited | 0.39% | 0.47% |
| Varun Beverages Ltd | 0.96% | 0.38% |
| LIC Housing Finance Limited | 1.11% | 0.35% |
| ITC Limited | 0.38% | 0.33% |
| DLF Limited | 0.33% | 0.29% |
| NMDC Limited | 0.29% | 1.54% |
| JSW Steel Limited | 1.47% | 0.26% |
| Bharat Electronics Limited | 0.24% | 1.72% |
| Tata Power Company Limited | 1.52% | 0.22% |
| Hindalco Industries Limited | 1.22% | 0.22% |
| Dabur India Limited | 0.47% | 0.17% |
| Divi's Laboratories Limited | 1.28% | 0.15% |
| Crompton Greaves Consumer Electricals Limited | 0.64% | 0.15% |
| Multi Commodity Exchange of India Limited | 0.82% | 0.09% |
| Infosys Limited | 0.14% | 0.09% |
| The Federal Bank Limited | 0.72% | 0.08% |
| Godrej Properties Limited | 0.25% | 0.07% |
| Oil & Natural Gas Corporation Limited | 0.14% | 0.07% |
| Mahindra & Mahindra Limited | 0.07% | 0.54% |
| Bajaj Finserv Limited | 0.80% | 0.06% |
| Tata Consumer Products Limited | 1.30% | 0.05% |
| Power Finance Corporation Limited | 0.88% | 0.05% |
| Hindustan Unilever Limited | 0.56% | 0.05% |
| Yes Bank Limited | 0.39% | 0.05% |
| Inox Wind Limited | 0.05% | 0.09% |
| Aurobindo Pharma Limited | 0.04% | 0.14% |
| Marico Limited | 0.19% | 0.03% |
| Asian Paints Limited | 0.43% | 0.02% |
| Eternal Limited | 0.18% | 0.02% |
| AU Small Finance Bank Limited | 0.04% | 0.02% |
| Power Grid Corporation of India Limited | 0.60% | 0.01% |
| Fortis Healthcare Limited | 0.42% | 0.01% |
| SBI Life Insurance Company Limited | 0.05% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.9% means 42.9% 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 Old Bridge Arbitrage Fund
| Security | % of fund |
|---|---|
| 364 Days Tbill (MD 13/05/2027) | 5.70% |
| Shriram Finance Limited | 2.97% |
| 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% |
Largest holdings only in Parag Parikh Arbitrage Fund
| Security | % of fund |
|---|---|
| Parag Parikh Liquid Fund- Direct Plan- Growth | 10.70% |
| Small Industries Dev Bank of India (11/06/2027) | 3.46% |
| Canara Bank (08/12/2026) | 1.80% |
| HDFC Bank Limited (21/12/2026) | 1.79% |
| Canara Bank (08/01/2027) | 1.79% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Old Bridge Arbitrage | Parag Parikh Arbitrage |
|---|---|---|
| Equity | 79.4% | 67.5% |
| Debt | 11.5% | 18.0% |
| Cash and others | 9.1% | 14.5% |
Market cap of stocks
| Market cap | Old Bridge Arbitrage | Parag Parikh Arbitrage |
|---|---|---|
| Large Cap | 64.1% | 57.5% |
| Mid Cap | 13.3% | 7.4% |
| Small Cap | 1.9% | 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 | Old Bridge Arbitrage | Parag Parikh Arbitrage |
|---|---|---|
| Banks | 22.2% | 34.1% |
| Finance | 7.5% | 1.9% |
| Telecom - Services | 7.5% | 4.8% |
| Petroleum Products | 5.5% | 4.8% |
| Ferrous Metals | 4.4% | 2.7% |
| Pharmaceuticals & Biotechnology | 4.2% | 2.4% |
| Electrical Equipment | 2.3% | 3.1% |
| Aerospace & Defense | 1.4% | 2.7% |
The six largest sectors of each fund's stocks, % of the fund.
Old Bridge Arbitrage vs Parag Parikh Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Old Bridge Arbitrage Fund | Parag Parikh Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.09% | 0.99% |
| Base expense ratio (Direct) | 0.12% | 0.19% |
| Total expense ratio (Regular) | 1.94% | 1.39% |
| Base expense ratio (Regular) | 0.84% | 0.53% |
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 Old Bridge Arbitrage with
Old Bridge Arbitrage Fund vs Parag Parikh Arbitrage Fund: Frequently Asked Questions
What is the difference between Old Bridge Arbitrage Fund and Parag Parikh Arbitrage Fund?
Both are Arbitrage funds, run by Old Bridge Mutual Fund and PPFAS Mutual Fund. Their portfolios overlap 42.9%. Old Bridge Arbitrage Fund charges 1.09% a year and Parag Parikh Arbitrage Fund 0.99%.
Which has the lower expense ratio, Old Bridge Arbitrage Fund or Parag Parikh Arbitrage Fund?
Parag Parikh Arbitrage Fund charges less: 0.99% a year against 1.09%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Old Bridge Arbitrage Fund and Parag Parikh Arbitrage Fund overlap?
42.9%. They hold 57 of the same securities, the largest shared ones being ICICIBANK, RELIANCE, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, Old Bridge Arbitrage Fund or Parag Parikh Arbitrage Fund?
On SEBI's riskometer, Old Bridge Arbitrage Fund is rated Low and Parag Parikh Arbitrage Fund Low. Over their common history, the standard deviation of daily returns was 1.68% and 1.11% a year.
Can I invest in both Old Bridge Arbitrage Fund and Parag Parikh Arbitrage Fund?
Yes. 42.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Old Bridge Arbitrage Fund and Parag Parikh Arbitrage Fund?
Old Bridge Arbitrage Fund: Kenneth Joseph Andrade. Parag Parikh Arbitrage Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar.
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.