Parag Parikh Arbitrage Fund vs SBI BSE 100 ETF
Direct Plan where a fund has one, Growth option · Data as on 30-10-2026
Parag Parikh Arbitrage Fund is an Arbitrage fund and SBI BSE 100 ETF is a mutual fund. In the year to 30-10-2026, Parag Parikh Arbitrage Fund (Direct) returned 6.5% and SBI BSE 100 ETF (Regular) returned −9.1%. Parag Parikh Arbitrage Fund charges 0.99% a year and SBI BSE 100 ETF 0.16%. Their portfolios overlap 42.2%: they hold 50 of the same securities.
Parag Parikh Arbitrage Fund
Arbitrage
- 1 year return
- 6.5%
- Expense ratio
- 0.99%
- NAV
- ₹12.24
Which is better, Parag Parikh Arbitrage or SBI BSE 100 ETF? 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 returned more over 1 year: 6.5% against −9.1%.
- SBI BSE 100 ETF costs less: 0.16% a year against 0.99%.
- Parag Parikh Arbitrage fell less in its worst fall since 03-11-2023: −0.6% against −16.7%.
- SBI BSE 100 ETF holds more in large companies: 90.2% of the fund in large caps against 57.5%.
- Parag Parikh Arbitrage is the larger fund: ₹2,750 Cr against ₹9 Cr.
- Their portfolios overlap 42.2%: 50 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 | Parag Parikh Arbitrage Fund | SBI BSE 100 ETF |
|---|---|---|
| Fund house | PPFAS Mutual Fund | SBI Mutual Fund |
| Category | Arbitrage | Not available |
| AUM | ₹2,750 Cr (30-09-2026) | ₹9 Cr (30-09-2026) |
| NAV | ₹12.24 (Direct) | ₹272.01 (Regular) |
| Expense ratio (Direct) | 0.99% | Not available |
| Expense ratio (Regular) | 1.39% | 0.16% |
| Riskometer | Low | Not available |
| Benchmark | Nifty 50 Arbitrage TRI | Not available |
| Launch date | 02-11-2023 | Not available |
| Minimum investment | ₹1,000 | Not available |
| Lock in | None | Not available |
| Fund managers | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar | Not available |
| Exit load | 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. | Not available |
Parag Parikh Arbitrage vs SBI BSE 100 ETF: 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 |
|---|---|---|---|---|---|---|---|
| Parag Parikh Arbitrage Fund (Direct) | +0.57% | +1.50% | +3.18% | +6.52% | -- | -- | -- |
| SBI BSE 100 ETF (Regular) | +0.93% | −5.53% | −2.97% | −9.05% | +8.78% | +7.62% | +11.52% |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
Category average: the average of the 39 Arbitrage funds, same plan type.
Parag Parikh Arbitrage vs SBI BSE 100 ETF: Year-wise Returns
| Year | Parag Parikh ArbitrageParag Parikh Arbitrage | SBI BSE 100 ETFSBI BSE 100 ETF |
|---|---|---|
| 2026to date | +5.31% | −9.80% |
| 2025 | +6.62% | +10.33% |
| 2024 | +7.77% | +13.11% |
| 2023 | -- | +23.07% |
| 2022 | -- | +5.85% |
| 2021 | -- | +26.33% |
Parag Parikh Arbitrage vs SBI BSE 100 ETF: Rolling Returns
Every holding period of both funds, against BSE 100 TRI, the benchmark of SBI BSE 100 ETF
Rolling returns
Every 1-year holding period, 490 of them, one for each trading day from 04-11-2024 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.
Parag Parikh Arbitrage Fund (Direct)
SBI BSE 100 ETF (Regular)
BSE 100 TRI
to
Jan 2025May 2024
to
May 2025Sept 2024
to
Sept 2025Jan 2025
to
Jan 2026May 2025
to
May 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Parag Parikh Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.9% | 6.7% | 6.0% | 7.9% | 60% |
| SBI BSE 100 ETF | 26.9 | 24.4 | 26.1 | 14.4 | 2.4 | 2.6 | 3.2 | 5.3% | 4.8% | −10.5% | 31.1% | 1% |
| BSE 100 TRI | 25.9 | 24.5 | 26.1 | 15.3 | 2.2 | 2.7 | 3.3 | 5.4% | 5.0% | −10.3% | 31.4% | -- |
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. The benchmark is BSE 100 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 03-11-2023. Past returns do not promise future returns.
Parag Parikh Arbitrage vs SBI BSE 100 ETF: 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 03-11-2023 to 30-10-2026: 36 instalments, ₹3,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Parag Parikh ArbitrageParag Parikh Arbitrage Fund (Direct) | ₹3,60,000 | ₹3,97,973 | ₹37,973 | 6.6% |
| SBI BSE 100 ETFSBI BSE 100 ETF (Regular) | ₹3,60,000 | ₹3,60,128 | ₹128 | 0.0% |
Parag Parikh ArbitrageParag Parikh Arbitrage Fund (Direct)
SBI BSE 100 ETFSBI BSE 100 ETF (Regular)
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.
Parag Parikh Arbitrage vs SBI BSE 100 ETF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Parag Parikh Arbitrage Fund (Direct) | SBI BSE 100 ETF (Regular) |
|---|---|---|
| Return (CAGR) | +6.52% | −9.05% |
| Standard deviation | 1.43% | 13.91% |
| Sharpe ratio | 0.89 | -1.03 |
| Sortino ratio | 1.37 | -1.36 |
| Maximum drawdown | −0.6% (06-08-2026) | −15.0% (31-03-2026) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.16% |
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 | Parag Parikh Arbitrage Fund (Direct) | SBI BSE 100 ETF (Regular) |
|---|---|---|
| Return (CAGR) | +6.94% | +10.40% |
| Standard deviation | 1.11% | 15.99% |
| Sharpe ratio | 0.83 | 0.30 |
| Sortino ratio | 1.25 | 0.40 |
| Maximum drawdown | −0.6% (06-08-2026) | −38.2% (23-03-2020) |
| Beta | -- | 1.00 |
| Alpha | -- | −0.44% |
From daily NAVs, 03-11-2023 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.
Parag Parikh Arbitrage Fund (Direct)
SBI BSE 100 ETF (Regular)
BSE 100 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Parag Parikh Arbitrage Fund (Direct) | −0.6% | 03-08-2026 | 06-08-2026 | 01-09-2026 | 26 days | 0.0% |
| SBI BSE 100 ETF (Regular) | −16.7% | 26-09-2024 | 28-02-2025 | 20-11-2025 | 9 months | −10.6% |
| BSE 100 TRI | −16.7% | 26-09-2024 | 28-02-2025 | 20-11-2025 | 9 months | −10.4% |
From daily values since 03-11-2023, 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.
Parag Parikh Arbitrage Fund (Direct)
SBI BSE 100 ETF (Regular)
BSE 100 TRI
Against BSE 100 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Parag Parikh Arbitrage Fund (Direct) | 20% | -15% | 14.49% |
| SBI BSE 100 ETF (Regular) | 99% | 100% | 0.02% |
From month-end values since 03-11-2023. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Parag Parikh Arbitrage vs SBI BSE 100 ETF: Portfolio Overlap
From each fund's latest monthly portfolio: Parag Parikh Arbitrage Fund, September 2026; SBI BSE 100 ETF, September 2026
Holdings in common
- Overlap
- 42.2%
- Held by both
- 50
- Only in Parag Parikh Arbitrage
- 34
- Only in SBI BSE 100 ETF
- 50
| Security | % of Parag Parikh Arbitrage | % of SBI BSE 100 ETF |
|---|---|---|
| HDFC Bank Limited | 6.38% | 8.26% |
| ICICI Bank Limited | 6.17% | 7.24% |
| Reliance Industries Limited | 4.80% | 6.01% |
| Bharti Airtel Limited | 4.40% | 4.18% |
| Axis Bank Limited | 4.51% | 2.68% |
| State Bank of India | 2.38% | 3.04% |
| Kotak Mahindra Bank Limited | 3.75% | 2.34% |
| Tata Steel Limited | 2.06% | 1.16% |
| Bharat Electronics Limited | 1.72% | 1.07% |
| Sun Pharmaceutical Industries Limited | 0.99% | 1.50% |
| UltraTech Cement Limited | 1.69% | 0.98% |
| Eicher Motors Limited | 1.16% | 0.75% |
| Hindustan Aeronautics Limited | 0.95% | 0.66% |
| Bajaj Finance Limited | 0.66% | 1.96% |
| Mahindra & Mahindra Limited | 0.54% | 2.01% |
| The Indian Hotels Company Limited | 0.58% | 0.49% |
| NTPC Limited | 0.44% | 1.17% |
| Coal India Limited | 0.42% | 0.78% |
| IDFC First Bank Limited | 2.24% | 0.41% |
| Jio Financial Services Limited | 0.40% | 0.55% |
| Varun Beverages Limited | 0.38% | 0.45% |
| Indus Towers Limited | 0.39% | 0.37% |
| Bank of Baroda | 0.78% | 0.33% |
| ITC Limited | 0.33% | 1.94% |
| Canara Bank | 5.28% | 0.31% |
| Punjab National Bank | 1.04% | 0.30% |
| DLF Limited | 0.29% | 0.33% |
| JSW Steel Limited | 0.26% | 0.91% |
| Tata Power Company Limited | 0.22% | 0.46% |
| Hindalco Industries Limited | 0.22% | 1.03% |
| Cipla Limited | 0.21% | 0.58% |
| Divi's Laboratories Limited | 0.15% | 0.90% |
| Coforge Limited | 0.10% | 0.46% |
| Infosys Limited | 0.09% | 2.68% |
| The Federal Bank Limited | 0.08% | 0.60% |
| ICICI Lombard General Insurance Company Limited | 0.08% | 0.30% |
| Oil & Natural Gas Corporation Limited | 0.07% | 0.67% |
| Tata Motors Passenger Vehicles Limited | 0.06% | 0.46% |
| Bajaj Finserv Limited | 0.06% | 0.74% |
| Hindustan Unilever Limited | 0.05% | 1.28% |
| Yes Bank Limited | 0.05% | 0.28% |
| Power Finance Corporation Limited | 0.05% | 0.36% |
| Tata Consumer Products Limited | 0.05% | 0.47% |
| Indian Oil Corporation Limited | 0.05% | 0.38% |
| Marico Limited | 0.03% | 0.32% |
| Eternal Limited | 0.02% | 1.76% |
| Asian Paints Limited | 0.02% | 0.83% |
| AU Small Finance Bank Limited | 0.02% | 0.44% |
| SBI Life Insurance Company Limited | 0.01% | 0.58% |
| Power Grid Corporation of India Limited | 0.01% | 0.91% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 42.2% means 42.2% 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 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% |
| Bharat Heavy Electricals Limited | 2.97% |
| Canara Bank (08/12/2026) | 1.80% |
| HDFC Bank Limited (21/12/2026) | 1.79% |
Largest holdings only in SBI BSE 100 ETF
| Security | % of fund |
|---|---|
| Larsen & Toubro Ltd. | 3.35% |
| Tata Consultancy Services Ltd. | 1.58% |
| Titan Company Ltd. | 1.43% |
| Maruti Suzuki India Ltd. | 1.18% |
| Adani Ports and Special Economic Zone Ltd. | 1.07% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Parag Parikh Arbitrage | SBI BSE 100 ETF |
|---|---|---|
| Equity | 67.5% | 100.0% |
| Debt | 18.0% | 0.0% |
| Cash and others | 14.5% | 0.0% |
Market cap of stocks
| Market cap | Parag Parikh Arbitrage | SBI BSE 100 ETF |
|---|---|---|
| Large Cap | 57.5% | 90.2% |
| Mid Cap | 7.4% | 9.7% |
| Small Cap | 2.7% | 0.0% |
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 | Parag Parikh Arbitrage | SBI BSE 100 ETF |
|---|---|---|
| Banks | 34.1% | 26.7% |
| IT - Software | 0.2% | 7.5% |
| Petroleum Products | 4.8% | 6.8% |
| Automobiles | 1.8% | 6.5% |
| Finance | 1.9% | 5.8% |
| Telecom - Services | 4.8% | 4.5% |
| Electrical Equipment | 3.1% | 0.8% |
| Ferrous Metals | 2.7% | 2.1% |
| Aerospace & Defense | 2.7% | 1.7% |
The six largest sectors of each fund's stocks, % of the fund.
Parag Parikh Arbitrage vs SBI BSE 100 ETF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Parag Parikh Arbitrage Fund | SBI BSE 100 ETF |
|---|---|---|
| Total expense ratio (Direct) | 0.99% | Not available |
| Base expense ratio (Direct) | 0.19% | 0.00% |
| Total expense ratio (Regular) | 1.39% | 0.16% |
| Base expense ratio (Regular) | 0.53% | 0.12% |
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
Parag Parikh Arbitrage Fund vs SBI BSE 100 ETF: Frequently Asked Questions
What is the difference between Parag Parikh Arbitrage Fund and SBI BSE 100 ETF?
Parag Parikh Arbitrage Fund is an Arbitrage fund, SBI BSE 100 ETF is a mutual fund, run by PPFAS Mutual Fund and SBI Mutual Fund. Their portfolios overlap 42.2%. Parag Parikh Arbitrage Fund charges 0.99% a year and SBI BSE 100 ETF 0.16%.
Which has given higher returns, Parag Parikh Arbitrage Fund or SBI BSE 100 ETF?
Over 1 year: Parag Parikh Arbitrage Fund +6.52%, SBI BSE 100 ETF −9.05%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Parag Parikh Arbitrage Fund or SBI BSE 100 ETF?
SBI BSE 100 ETF charges less: 0.16% a year against 0.99%. These are the total expense ratios reported to AMFI.
How much do Parag Parikh Arbitrage Fund and SBI BSE 100 ETF overlap?
42.2%. They hold 50 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is better for SIP, Parag Parikh Arbitrage Fund or SBI BSE 100 ETF?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-11-2023 to 30-10-2026 grew to ₹3,97,973 in Parag Parikh Arbitrage Fund (XIRR 6.6% a year) and ₹3,60,128 in SBI BSE 100 ETF (XIRR 0.0% a year). Both received 36 instalments. Past returns do not promise future returns.
Can I invest in both Parag Parikh Arbitrage Fund and SBI BSE 100 ETF?
Yes. 42.2% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
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.