Tata Arbitrage Fund vs TRUSTMF Arbitrage Fund
Direct Plan, Growth option · Data as on 30-10-2026
Tata Arbitrage Fund and TRUSTMF Arbitrage Fund are both Arbitrage funds. In the year to 30-10-2026, Tata Arbitrage Fund (Direct) returned 6.8% and TRUSTMF Arbitrage Fund (Direct) returned 6.5%. Tata Arbitrage Fund charges 1.57% a year and TRUSTMF Arbitrage Fund 1.42% (Direct plans). Their portfolios overlap 33.8%: they hold 51 of the same securities.
TRUSTMF Arbitrage Fund
Arbitrage
- 1 year return
- 6.5%
- Expense ratio
- 1.42%
- NAV
- ₹10.76
Which is better, Tata 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.
- Tata Arbitrage returned more over 1 year: 6.8% against 6.5%.
- TRUSTMF Arbitrage costs less: 1.42% a year against 1.57% (Direct plans).
- TRUSTMF Arbitrage fell less in its worst fall since 01-09-2025: −0.4% against −0.4%.
- TRUSTMF Arbitrage holds more in large companies: 61.3% of the fund in large caps against 50.0%.
- Tata Arbitrage is the larger fund: ₹24,539 Cr against ₹138 Cr.
- Their portfolios overlap 33.8%: 51 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 | Tata Arbitrage Fund | TRUSTMF Arbitrage Fund |
|---|---|---|
| Fund house | Tata Mutual Fund | Trust Mutual Fund |
| Category | Arbitrage | Arbitrage |
| AUM | ₹24,539 Cr (30-09-2026) | ₹138 Cr (30-09-2026) |
| NAV | ₹16.46 (Direct) | ₹10.76 (Direct) |
| Expense ratio (Direct) | 1.57% | 1.42% |
| Expense ratio (Regular) | 2.25% | 2.19% |
| Riskometer | Low | Low |
| Benchmark | Nifty 50 Arbitrage Index | Nifty 50 Arbitrage Index |
| Launch date | 18-12-2018 | 28-08-2025 |
| Minimum investment | ₹5,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Sailesh Jain | Mihir Vora, Sachin Parekh |
| Exit load | Exit load of 0.25%, if redeemed within 15 days. | 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. |
Tata 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 |
|---|---|---|---|---|---|---|---|
| Tata Arbitrage Fund (Direct) | +0.50% | +1.52% | +3.24% | +6.77% | +7.43% | +6.90% | -- |
| 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.
Tata Arbitrage vs TRUSTMF Arbitrage: Year-wise Returns
| Year | TataTata Arbitrage | TRUSTMFTRUSTMF Arbitrage |
|---|---|---|
| 2026to date | +5.46% | +5.30% |
| 2025 | +7.26% | -- |
| 2024 | +8.36% | -- |
| 2023 | +7.93% | -- |
| 2022 | +4.86% | -- |
| 2021 | +4.54% | -- |
Tata 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.
Tata 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Arbitrage | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.8% | 6.8% | 6.5% | 7.0% |
| 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.
Tata 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 |
|---|---|---|---|---|
| Tata ArbitrageTata Arbitrage Fund (Direct) | ₹1,40,000 | ₹1,45,669 | ₹5,669 | 6.6% |
| TRUSTMF ArbitrageTRUSTMF Arbitrage Fund (Direct) | ₹1,40,000 | ₹1,45,491 | ₹5,491 | 6.4% |
Tata ArbitrageTata 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.
Tata Arbitrage vs TRUSTMF Arbitrage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Tata Arbitrage Fund (Direct) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.77% | +6.53% |
| Standard deviation | 1.26% | 1.41% |
| Sharpe ratio | 1.21 | 0.91 |
| Sortino ratio | 1.89 | 1.37 |
| Maximum drawdown | −0.4% (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 | Tata Arbitrage Fund (Direct) | TRUSTMF Arbitrage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.55% | +6.47% |
| Standard deviation | 1.01% | 1.33% |
| Sharpe ratio | 1.32 | 0.89 |
| Sortino ratio | 2.01 | 1.34 |
| Maximum drawdown | −0.6% (03-06-2020) | −0.4% (17-08-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 19-12-2018 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.
Tata 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 |
|---|---|---|---|---|---|---|
| Tata Arbitrage Fund (Direct) | −0.4% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 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.
Tata Arbitrage Fund (Direct)
TRUSTMF Arbitrage Fund (Direct)
Tata Arbitrage vs TRUSTMF Arbitrage: Portfolio Overlap
From each fund's latest monthly portfolio: Tata Arbitrage Fund, September 2026; TRUSTMF Arbitrage Fund, September 2026
Holdings in common
- Overlap
- 33.8%
- Held by both
- 51
- Only in Tata Arbitrage
- 130
- Only in TRUSTMF Arbitrage
- 6
| Security | % of Tata Arbitrage | % of TRUSTMF Arbitrage |
|---|---|---|
| ICICI BANK LTD | 4.34% | 4.09% |
| HDFC BANK LTD | 7.89% | 4.08% |
| RELIANCE INDUSTRIES LTD | 4.28% | 3.83% |
| AXIS BANK LTD | 2.36% | 5.61% |
| VODAFONE IDEA LTD | 1.50% | 2.55% |
| BHARTI AIRTEL LTD | 1.27% | 3.15% |
| STATE BANK OF INDIA | 1.21% | 1.51% |
| INDUS TOWERS LTD | 1.21% | 2.53% |
| CANARA BANK | 1.09% | 6.38% |
| ADANI ENERGY SOLUTIONS LTD | 0.85% | 0.97% |
| IDFC FIRST BANK LTD | 0.75% | 0.82% |
| TATA STEEL LTD | 0.74% | 2.28% |
| BANDHAN BANK LTD | 0.67% | 1.91% |
| VARUN BEVERAGES LTD | 0.85% | 0.60% |
| KOTAK MAHINDRA BANK LTD | 0.60% | 0.85% |
| AMBUJA CEMENTS LTD | 0.57% | 0.91% |
| HDFC ASSET MANAGEMENT COMPANY LTD | 0.56% | 0.65% |
| INDUSIND BANK LTD | 0.52% | 0.55% |
| CUMMINS INDIA LTD | 0.91% | 0.48% |
| MANAPPURAM FINANCE LTD | 0.70% | 0.48% |
| HDFC LIFE INSURANCE CO. LTD | 0.56% | 0.46% |
| PUNJAB NATIONAL BANK | 0.46% | 1.31% |
| GLENMARK PHARMACEUTICALS LTD | 0.43% | 0.64% |
| BANK OF BARODA | 0.40% | 0.64% |
| YES BANK LTD | 0.40% | 1.75% |
| CROMPTON GREAVES CONSUMER ELECTRICALS LTD | 0.39% | 0.52% |
| HINDALCO INDUSTRIES LTD | 1.08% | 0.38% |
| INDIAN HOTELS CO. LTD | 0.36% | 0.95% |
| INFO EDGE (INDIA) LTD | 0.31% | 0.44% |
| KALYAN JEWELLERS INDIA LTD | 0.30% | 2.93% |
| LIC HOUSING FINANCE LTD | 0.29% | 0.46% |
| BAJAJ FINANCE LTD | 0.27% | 2.61% |
| ITC LTD | 0.26% | 1.25% |
| PATANJALI FOODS LTD | 0.22% | 0.79% |
| POWER FINANCE CORPORATION LTD | 0.62% | 0.21% |
| INDIAN ENERGY EXCHANGE LTD | 0.19% | 1.49% |
| APOLLO HOSPITALS ENTERPRISE LTD | 0.19% | 1.33% |
| MAHINDRA & MAHINDRA LTD | 0.15% | 1.07% |
| CHOLAMANDALAM INVESTMENT & FINANCE CO LTD | 0.09% | 0.66% |
| ULTRATECH CEMENT LTD | 0.09% | 0.83% |
| INTERGLOBE AVIATION LTD | 0.09% | 0.38% |
| MARUTI SUZUKI INDIA LTD | 0.08% | 3.95% |
| LARSEN & TOUBRO LTD | 0.06% | 2.20% |
| ASIAN PAINTS LTD | 0.06% | 0.35% |
| INDIAN OIL CORPORATION LTD | 0.74% | 0.05% |
| THE PHOENIX MILLS LTD | 0.06% | 0.05% |
| EICHER MOTORS LTD | 0.02% | 0.62% |
| TITAN COMPANY LTD | 0.02% | 0.47% |
| SUN PHARMACEUTICAL INDUSTRIES LTD | 0.01% | 0.23% |
| NESTLE INDIA LTD | 0.01% | 1.57% |
| ETERNAL LTD | 0.01% | 0.11% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.8% means 33.8% 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 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% |
Largest holdings only in TRUSTMF Arbitrage Fund
| Security | % of fund |
|---|---|
| TRUSTMF Liquid Fund-Direct Plan-Growth | 18.59% |
| Astral Limited | 1.73% |
| Inox Wind Limited | 0.13% |
| Adani Ports and Special Economic Zone Limited | 0.12% |
| SBI Cards and Payment Services Limited | 0.07% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Tata Arbitrage | TRUSTMF Arbitrage |
|---|---|---|
| Equity | 64.8% | 77.0% |
| Debt | 21.7% | 0.0% |
| Cash and others | 13.5% | 23.0% |
Market cap of stocks
| Market cap | Tata Arbitrage | TRUSTMF Arbitrage |
|---|---|---|
| Large Cap | 50.0% | 61.3% |
| Mid Cap | 12.1% | 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 | Tata Arbitrage | TRUSTMF Arbitrage |
|---|---|---|
| Banks | 21.6% | 29.5% |
| Telecom - Services | 4.0% | 8.2% |
| Automobiles | 1.6% | 5.6% |
| Petroleum Products | 5.2% | 3.9% |
| Finance | 3.7% | 4.5% |
| Consumer Durables | 0.8% | 4.3% |
| Power | 4.1% | 1.0% |
| Ferrous Metals | 3.0% | 2.3% |
The six largest sectors of each fund's stocks, % of the fund.
Tata Arbitrage vs TRUSTMF Arbitrage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Tata Arbitrage Fund | TRUSTMF Arbitrage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.57% | 1.42% |
| Base expense ratio (Direct) | 0.26% | 0.17% |
| Total expense ratio (Regular) | 2.25% | 2.19% |
| Base expense ratio (Regular) | 0.91% | 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 Tata Arbitrage with
Tata Arbitrage Fund vs TRUSTMF Arbitrage Fund: Frequently Asked Questions
What is the difference between Tata Arbitrage Fund and TRUSTMF Arbitrage Fund?
Both are Arbitrage funds, run by Tata Mutual Fund and Trust Mutual Fund. Their portfolios overlap 33.8%. Tata Arbitrage Fund charges 1.57% a year and TRUSTMF Arbitrage Fund 1.42%.
Which has given higher returns, Tata Arbitrage Fund or TRUSTMF Arbitrage Fund?
Over 1 year: Tata Arbitrage Fund +6.77%, TRUSTMF Arbitrage Fund +6.53%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Tata Arbitrage Fund or TRUSTMF Arbitrage Fund?
TRUSTMF Arbitrage Fund charges less: 1.42% a year against 1.57%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Tata Arbitrage Fund and TRUSTMF Arbitrage Fund overlap?
33.8%. They hold 51 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Tata Arbitrage Fund or TRUSTMF Arbitrage Fund?
On SEBI's riskometer, Tata Arbitrage Fund is rated Low and TRUSTMF Arbitrage Fund Low. Over 1 years, the standard deviation of daily returns was 1.26% and 1.41% a year.
Can I invest in both Tata Arbitrage Fund and TRUSTMF Arbitrage Fund?
Yes. 33.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Tata Arbitrage Fund and TRUSTMF Arbitrage Fund?
Tata Arbitrage Fund: Sailesh Jain. 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.