Parag Parikh Arbitrage Fund vs TRUSTMF Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Parag Parikh Arbitrage Fund and TRUSTMF Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, Parag Parikh Arbitrage Fund (Direct) returned 6.5% and TRUSTMF Arbitrage Fund (Direct) returned 6.5%. Parag Parikh Arbitrage Fund charges 0.99% a year and TRUSTMF Arbitrage Fund 1.42% (Direct plans). Their portfolios overlap 39.4%: they hold 33 of the same securities.
Parag Parikh Arbitrage Fund
Arbitrage
- 1 year return
- 6.5%
- Expense ratio
- 0.99%
- NAV
- ₹12.24
TRUSTMF Arbitrage Fund
Arbitrage
- 1 year return
- 6.5%
- Expense ratio
- 1.42%
- NAV
- ₹10.76
Which is better, Parag Parikh Arbitrage or TRUSTMF Arbitrage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- TRUSTMF Arbitrage returned more over 1 year: 6.5% against 6.5%.
- Parag Parikh Arbitrage costs less: 0.99% a year against 1.42% (Direct plans).
- TRUSTMF Arbitrage fell less in its worst fall since 01-09-2025: −0.4% against −0.6%.
- Parag Parikh Arbitrage is the larger fund: ₹2,750 Cr against ₹138 Cr.
- Their portfolios overlap 39.4%: 33 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 | TRUSTMF Arbitrage Fund |
|---|---|---|
| Fund house | PPFAS Mutual Fund | Trust Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹2,750 Cr (30-09-2026) | ₹138 Cr (30-09-2026) |
| NAV | ₹12.24 (Direct) | ₹10.76 (Direct) |
| Expense ratio (Direct) | 0.99% | 1.42% |
| Expense ratio (Regular) | 1.39% | 2.19% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage TRI | Nifty 50 Arbitrage Index |
| Launch date | 02-11-2023 | 28-08-2025 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar | Mihir Vora, Sachin Parekh |
| 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. | 0.25% If redeemed / switched out within 7 days from the date of allotment. Nil - if redeemed/switched out after 7 days from the date of allotment. |
Parag Parikh Arbitrage vs TRUSTMF 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% | -- | -- | -- |
| TRUSTMF Arbitrage Fund (Direct) | +0.56% | +1.52% | +3.18% | +6.53% | -- | -- | -- |
| 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 TRUSTMF Arbitrage: Year-wise Returns
| Year | Parag ParikhParag Parikh Arbitrage | TRUSTMFTRUSTMF Arbitrage |
|---|---|---|
| 2026to date | +5.31% | +5.30% |
| 2025 | +6.62% | -- |
| 2024 | +7.77% | -- |
Parag Parikh Arbitrage vs TRUSTMF Arbitrage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 39 of them, one for each trading day from 01-09-2026 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)
TRUSTMF Arbitrage Fund (Direct)
to
Sept 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Parag Parikh Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.4% | 6.1% | 6.7% |
| TRUSTMF Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.5% | 6.2% | 6.7% |
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 01-09-2025. Past returns do not promise future returns.
Parag Parikh Arbitrage vs TRUSTMF 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 01-09-2025 to 30-10-2026: 14 instalments, ₹1,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Parag Parikh ArbitrageParag Parikh Arbitrage Fund (Direct) | ₹1,40,000 | ₹1,45,462 | ₹5,462 | 6.3% |
| TRUSTMF ArbitrageTRUSTMF Arbitrage Fund (Direct) | ₹1,40,000 | ₹1,45,491 | ₹5,491 | 6.4% |
Parag Parikh ArbitrageParag Parikh Arbitrage Fund (Direct)
TRUSTMF ArbitrageTRUSTMF 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 TRUSTMF 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) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.52% | +6.53% |
| Standard deviation | 1.43% | 1.41% |
| Sharpe ratio | 0.89 | 0.91 |
| Sortino ratio | 1.37 | 1.37 |
| Maximum drawdown | −0.6% (06-08-2026) | −0.4% (17-08-2026) |
| 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) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.94% | +6.47% |
| Standard deviation | 1.11% | 1.33% |
| Sharpe ratio | 0.83 | 0.89 |
| Sortino ratio | 1.25 | 1.34 |
| Maximum drawdown | −0.6% (06-08-2026) | −0.4% (17-08-2026) |
| 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)
TRUSTMF 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% |
| TRUSTMF Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 17-08-2026 | 24-08-2026 | 7 days | −0.1% |
From daily values since 01-09-2025, 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)
TRUSTMF Arbitrage Fund (Direct)
Parag Parikh Arbitrage vs TRUSTMF Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Parag Parikh Arbitrage Fund, September 2026; TRUSTMF Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 39.4%
- Held by both
- 33
- Only in Parag Parikh Arbitrage
- 51
- Only in TRUSTMF Arbitrage
- 24
| Security | % of Parag Parikh Arbitrage | % of TRUSTMF Arbitrage |
|---|---|---|
| Canara Bank | 5.28% | 6.38% |
| Axis Bank Limited | 4.51% | 5.61% |
| ICICI Bank Limited | 6.17% | 4.09% |
| HDFC Bank Limited | 6.38% | 4.08% |
| Reliance Industries Limited | 4.80% | 3.83% |
| Bharti Airtel Limited | 4.40% | 3.15% |
| Tata Steel Limited | 2.06% | 2.28% |
| State Bank of India | 2.38% | 1.51% |
| Bandhan Bank Limited | 1.46% | 1.91% |
| Punjab National Bank | 1.04% | 1.31% |
| Kotak Mahindra Bank Limited | 3.75% | 0.85% |
| UltraTech Cement Limited | 1.69% | 0.83% |
| IDFC First Bank Limited | 2.24% | 0.82% |
| Bajaj Finance Limited | 0.66% | 2.61% |
| Bank of Baroda | 0.78% | 0.64% |
| Eicher Motors Limited | 1.16% | 0.62% |
| The Indian Hotels Company Limited | 0.58% | 0.95% |
| Mahindra & Mahindra Limited | 0.54% | 1.07% |
| Glenmark Pharmaceuticals Limited | 0.47% | 0.64% |
| Indus Towers Limited | 0.39% | 2.53% |
| Varun Beverages Limited | 0.38% | 0.60% |
| LIC Housing Finance Limited | 0.35% | 0.46% |
| ITC Limited | 0.33% | 1.25% |
| Sun Pharmaceutical Industries Limited | 0.99% | 0.23% |
| Hindalco Industries Limited | 0.22% | 0.38% |
| Crompton Greaves Consumer Electricals Limited | 0.15% | 0.52% |
| Inox Wind Limited | 0.09% | 0.13% |
| Yes Bank Limited | 0.05% | 1.75% |
| Power Finance Corporation Limited | 0.05% | 0.21% |
| Indian Oil Corporation Limited | 0.05% | 0.05% |
| Eternal Limited | 0.02% | 0.11% |
| Asian Paints Limited | 0.02% | 0.35% |
| Power Grid Corporation of India Limited | 0.01% | 0.04% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 39.4% means 39.4% 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 TRUSTMF Arbitrage Fund
| Security | % of fund |
|---|---|
| TRUSTMF Liquid Fund-Direct Plan-Growth | 18.59% |
| Maruti Suzuki India Limited | 3.95% |
| Kalyan Jewellers India Limited | 2.93% |
| Vodafone Idea Limited | 2.55% |
| Larsen & Toubro Limited | 2.20% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Parag Parikh Arbitrage | TRUSTMF Arbitrage |
|---|---|---|
| Equity | 67.5% | 77.0% |
| Debt | 18.0% | 0.0% |
| Cash and others | 14.5% | 23.0% |
Market cap of stocks
| Market cap | Parag Parikh Arbitrage | TRUSTMF Arbitrage |
|---|---|---|
| Large Cap | 57.5% | 61.3% |
| Mid Cap | 7.4% | 10.7% |
| Small Cap | 2.7% | 5.0% |
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 | TRUSTMF Arbitrage |
|---|---|---|
| Banks | 34.1% | 29.5% |
| Telecom - Services | 4.8% | 8.2% |
| Automobiles | 1.8% | 5.6% |
| Petroleum Products | 4.8% | 3.9% |
| Finance | 1.9% | 4.5% |
| Consumer Durables | 0.2% | 4.3% |
| Electrical Equipment | 3.1% | 0.1% |
| Ferrous Metals | 2.7% | 2.3% |
| Aerospace & Defense | 2.7% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Parag Parikh Arbitrage vs TRUSTMF Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Parag Parikh Arbitrage Fund | TRUSTMF Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.99% | 1.42% |
| Base expense ratio (Direct) | 0.19% | 0.17% |
| Total expense ratio (Regular) | 1.39% | 2.19% |
| Base expense ratio (Regular) | 0.53% | 0.85% |
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 TRUSTMF Arbitrage Fund: Frequently Asked Questions
What is the difference between Parag Parikh Arbitrage Fund and TRUSTMF Arbitrage Fund?
Both are Arbitrage funds, run by PPFAS Mutual Fund and Trust Mutual Fund. Their portfolios overlap 39.4%. Parag Parikh Arbitrage Fund charges 0.99% a year and TRUSTMF Arbitrage Fund 1.42%.
Which has given higher returns, Parag Parikh Arbitrage Fund or TRUSTMF Arbitrage Fund?
Over 1 year: Parag Parikh Arbitrage Fund +6.52%, TRUSTMF Arbitrage Fund +6.53%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Parag Parikh Arbitrage Fund or TRUSTMF Arbitrage Fund?
Parag Parikh Arbitrage Fund charges less: 0.99% a year against 1.42%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Parag Parikh Arbitrage Fund and TRUSTMF Arbitrage Fund overlap?
39.4%. They hold 33 of the same securities, the largest shared ones being CANBK, AXISBANK, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, Parag Parikh Arbitrage Fund or TRUSTMF Arbitrage Fund?
On SEBI's riskometer, Parag Parikh Arbitrage Fund is rated Low and TRUSTMF Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 1.43% and 1.41% a year.
Can I invest in both Parag Parikh Arbitrage Fund and TRUSTMF Arbitrage Fund?
Yes. 39.4% 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 TRUSTMF Arbitrage Fund?
Parag Parikh Arbitrage Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar. TRUSTMF Arbitrage Fund: Mihir Vora, Sachin Parekh.
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.