Parag Parikh Arbitrage Fund vs Tata Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Parag Parikh Arbitrage Fund and Tata Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, Parag Parikh Arbitrage Fund (Direct) returned 6.5% and Tata Arbitrage Fund (Direct) returned 6.8%. Parag Parikh Arbitrage Fund charges 0.99% a year and Tata Arbitrage Fund 1.57% (Direct plans). Their portfolios overlap 35.5%: they hold 69 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 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.
- Tata Arbitrage returned more over 1 year: 6.8% against 6.5%.
- Parag Parikh Arbitrage costs less: 0.99% a year against 1.57% (Direct plans).
- Tata Arbitrage fell less in its worst fall since 03-11-2023: −0.4% against −0.6%.
- Tata Arbitrage is the larger fund: ₹24,539 Cr against ₹2,750 Cr.
- Their portfolios overlap 35.5%: 69 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 | Tata Arbitrage Fund |
|---|---|---|
| Fund house | PPFAS Mutual Fund | Tata Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹2,750 Cr (30-09-2026) | ₹24,539 Cr (30-09-2026) |
| NAV | ₹12.24 (Direct) | ₹16.46 (Direct) |
| Expense ratio (Direct) | 0.99% | 1.57% |
| Expense ratio (Regular) | 1.39% | 2.25% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 02-11-2023 | 18-12-2018 |
| Minimum investment | ₹1,000 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar | Sailesh Jain |
| 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. | Exit load of 0.25%, if redeemed within 15 days. |
Parag Parikh 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 |
|---|---|---|---|---|---|---|---|
| Parag Parikh Arbitrage Fund (Direct) | +0.57% | +1.50% | +3.18% | +6.52% | -- | -- | -- |
| 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.
Parag Parikh Arbitrage vs Tata Arbitrage: Year-wise Returns
| Year | Parag ParikhParag Parikh Arbitrage | TataTata Arbitrage |
|---|---|---|
| 2026to date | +5.31% | +5.46% |
| 2025 | +6.62% | +7.26% |
| 2024 | +7.77% | +8.36% |
| 2023 | -- | +7.93% |
| 2022 | -- | +4.86% |
| 2021 | -- | +4.54% |
Parag Parikh Arbitrage vs Tata Arbitrage: Rolling Returns
Every holding period of both funds
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)
Tata Arbitrage Fund (Direct)
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% |
| Tata Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.4% | 7.3% | 6.3% | 8.5% |
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 03-11-2023. Past returns do not promise future returns.
Parag Parikh 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 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% |
| Tata ArbitrageTata Arbitrage Fund (Direct) | ₹3,60,000 | ₹4,00,376 | ₹40,376 | 7.0% |
Parag Parikh ArbitrageParag Parikh 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.
Parag Parikh Arbitrage vs Tata Arbitrage: 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) | Tata Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.52% | +6.77% |
| Standard deviation | 1.43% | 1.26% |
| Sharpe ratio | 0.89 | 1.21 |
| Sortino ratio | 1.37 | 1.89 |
| Maximum drawdown | −0.6% (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 | Parag Parikh Arbitrage Fund (Direct) | Tata Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.94% | +6.55% |
| Standard deviation | 1.11% | 1.01% |
| Sharpe ratio | 0.83 | 1.32 |
| Sortino ratio | 1.25 | 2.01 |
| Maximum drawdown | −0.6% (06-08-2026) | −0.6% (03-06-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
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)
Tata Arbitrage Fund (Direct)
| 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% |
| Tata Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.0% |
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)
Tata Arbitrage Fund (Direct)
Parag Parikh Arbitrage vs Tata Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Parag Parikh Arbitrage Fund, September 2026; Tata Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 35.5%
- Held by both
- 69
- Only in Parag Parikh Arbitrage
- 15
- Only in Tata Arbitrage
- 112
| Security | % of Parag Parikh Arbitrage | % of Tata Arbitrage |
|---|---|---|
| HDFC Bank Limited | 6.38% | 7.89% |
| ICICI Bank Limited | 6.17% | 4.34% |
| Reliance Industries Limited | 4.80% | 4.28% |
| Axis Bank Limited | 4.51% | 2.36% |
| Bharti Airtel Limited | 4.40% | 1.27% |
| State Bank of India | 2.38% | 1.21% |
| Canara Bank | 5.28% | 1.09% |
| Bharat Heavy Electricals Limited | 2.97% | 0.90% |
| IDFC First Bank Limited | 2.24% | 0.75% |
| Tata Steel Limited | 2.06% | 0.74% |
| NMDC Limited | 1.54% | 0.74% |
| Bharat Electronics Limited | 1.72% | 0.68% |
| Bandhan Bank Limited | 1.46% | 0.67% |
| Hindustan Aeronautics Limited | 0.95% | 0.61% |
| Kotak Mahindra Bank Limited | 3.75% | 0.60% |
| Punjab National Bank | 1.04% | 0.46% |
| Biocon Limited | 0.44% | 0.47% |
| NTPC Limited | 0.44% | 0.50% |
| Glenmark Pharmaceuticals Limited | 0.47% | 0.43% |
| Life Insurance Corporation Of India | 0.93% | 0.42% |
| Coal India Limited | 0.42% | 1.00% |
| Steel Authority of India Limited | 0.41% | 1.31% |
| Bank of Baroda | 0.78% | 0.40% |
| Jio Financial Services Limited | 0.40% | 1.20% |
| Indus Towers Limited | 0.39% | 1.21% |
| Varun Beverages Limited | 0.38% | 0.85% |
| The Indian Hotels Company Limited | 0.58% | 0.36% |
| LIC Housing Finance Limited | 0.35% | 0.29% |
| Bajaj Finance Limited | 0.66% | 0.27% |
| ITC Limited | 0.33% | 0.26% |
| JSW Steel Limited | 0.26% | 0.84% |
| Tata Power Company Limited | 0.22% | 0.36% |
| Hindalco Industries Limited | 0.22% | 1.08% |
| NBCC (India) Limited | 0.57% | 0.16% |
| Mahindra & Mahindra Limited | 0.54% | 0.15% |
| Crompton Greaves Consumer Electricals Limited | 0.15% | 0.39% |
| Divi's Laboratories Limited | 0.15% | 0.92% |
| GMR Airports Limited | 0.47% | 0.14% |
| Aurobindo Pharma Limited | 0.14% | 0.30% |
| National Bank For Agriculture and Rural Development (27/01/2027) | 1.78% | 0.10% |
| Coforge Limited | 0.10% | 0.58% |
| UltraTech Cement Limited | 1.69% | 0.09% |
| Multi Commodity Exchange of India Limited | 0.09% | 0.43% |
| Infosys Limited | 0.09% | 0.28% |
| Aditya Birla Capital Limited | 0.32% | 0.08% |
| The Federal Bank Limited | 0.08% | 0.33% |
| ICICI Lombard General Insurance Company Limited | 0.08% | 0.28% |
| Godrej Properties Limited | 0.07% | 0.49% |
| Oil & Natural Gas Corporation Limited | 0.07% | 0.17% |
| Tata Motors Passenger Vehicles Limited | 0.06% | 0.67% |
| Bajaj Finserv Limited | 0.06% | 0.08% |
| Cipla Limited | 0.21% | 0.05% |
| Hindustan Unilever Limited | 0.05% | 0.83% |
| Yes Bank Limited | 0.05% | 0.40% |
| Power Finance Corporation Limited | 0.05% | 0.62% |
| Tata Consumer Products Limited | 0.05% | 0.09% |
| Indian Oil Corporation Limited | 0.05% | 0.74% |
| DLF Limited | 0.29% | 0.03% |
| Dabur India Limited | 0.17% | 0.03% |
| Solar Industries India Limited | 0.03% | 0.05% |
| Marico Limited | 0.03% | 0.25% |
| Eicher Motors Limited | 1.16% | 0.02% |
| PNB Housing Finance Limited | 0.10% | 0.02% |
| Asian Paints Limited | 0.02% | 0.06% |
| AU Small Finance Bank Limited | 0.02% | 0.07% |
| Sun Pharmaceutical Industries Limited | 0.99% | 0.01% |
| Eternal Limited | 0.02% | 0.01% |
| Fortis Healthcare Limited | 0.01% | 0.11% |
| Torrent Pharmaceuticals Limited | 0.01% | 0.17% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 35.5% means 35.5% 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% |
| Canara Bank (08/12/2026) | 1.80% |
| HDFC Bank Limited (21/12/2026) | 1.79% |
| Canara Bank (08/01/2027) | 1.79% |
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% |
| VODAFONE IDEA LTD | 1.50% |
| ** - NABARD - CD - 28/01/2027 | 1.49% |
| ** - NATIONAL BANK FOR FINANCING INFRASTRUCTURE AND DEVELOPMENT - CD - 12/03/2027 | 1.38% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Parag Parikh Arbitrage | Tata Arbitrage |
|---|---|---|
| Equity | 67.5% | 64.8% |
| Debt | 18.0% | 21.7% |
| Cash and others | 14.5% | 13.5% |
Market cap of stocks
| Market cap | Parag Parikh Arbitrage | Tata Arbitrage |
|---|---|---|
| Large Cap | 57.5% | 50.0% |
| Mid Cap | 7.4% | 12.1% |
| Small Cap | 2.7% | 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 | Parag Parikh Arbitrage | Tata Arbitrage |
|---|---|---|
| Banks | 34.1% | 21.6% |
| Petroleum Products | 4.8% | 5.2% |
| Telecom - Services | 4.8% | 4.0% |
| Power | 0.7% | 4.1% |
| Finance | 1.9% | 3.7% |
| Electrical Equipment | 3.1% | 1.2% |
| Ferrous Metals | 2.7% | 3.0% |
| Aerospace & Defense | 2.7% | 1.3% |
The six largest sectors of each fund's stocks, % of the fund.
Parag Parikh Arbitrage vs Tata Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Parag Parikh Arbitrage Fund | Tata Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.99% | 1.57% |
| Base expense ratio (Direct) | 0.19% | 0.26% |
| Total expense ratio (Regular) | 1.39% | 2.25% |
| Base expense ratio (Regular) | 0.53% | 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 Parag Parikh Arbitrage with
Parag Parikh Arbitrage Fund vs Tata Arbitrage Fund: Frequently Asked Questions
What is the difference between Parag Parikh Arbitrage Fund and Tata Arbitrage Fund?
Both are Arbitrage funds, run by PPFAS Mutual Fund and Tata Mutual Fund. Their portfolios overlap 35.5%. Parag Parikh Arbitrage Fund charges 0.99% a year and Tata Arbitrage Fund 1.57%.
Which has given higher returns, Parag Parikh Arbitrage Fund or Tata Arbitrage Fund?
Over 1 year: Parag Parikh Arbitrage Fund +6.52%, Tata Arbitrage Fund +6.77%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Parag Parikh Arbitrage Fund or Tata Arbitrage Fund?
Parag Parikh 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 Parag Parikh Arbitrage Fund and Tata Arbitrage Fund overlap?
35.5%. They hold 69 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Parag Parikh Arbitrage Fund or Tata Arbitrage Fund?
On SEBI's riskometer, Parag Parikh Arbitrage Fund is rated Low and Tata Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 1.43% and 1.26% a year.
Which is better for SIP, Parag Parikh Arbitrage Fund or Tata Arbitrage Fund?
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 ₹4,00,376 in Tata Arbitrage Fund (XIRR 7.0% a year). Both received 36 instalments. Past returns do not promise future returns.
Can I invest in both Parag Parikh Arbitrage Fund and Tata Arbitrage Fund?
Yes. 35.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Parag Parikh Arbitrage Fund and Tata Arbitrage Fund?
Parag Parikh Arbitrage Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar. 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.