HSBC Arbitrage Fund is an Arbitrage fund run by HSBC Mutual Fund. On 30-09-2026, it managed ₹3,633 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.2% a year and its Regular plan returned 6.5% a year.
NAV on 30-10-2026: Direct Plan Growth ₹22.08 (up 0.19% that day); Regular Plan Growth ₹20.47 (up 0.19% that day).
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Period | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| This fund (Direct) | +0.45% | +1.44% | +3.16% | +6.54% | +7.17% | -- | -- |
| This fund (Regular) | +0.40% | +1.29% | +2.84% | +5.97% | +6.50% | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | -- | -- |
| Best in Arbitrage | +0.73% | +1.71% | +3.63% | +7.56% | +7.46% | -- | -- |
| Worst in Arbitrage | +0.45% | +1.28% | +2.60% | +5.24% | +6.42% | -- | -- |
| Rank in Arbitrage | 39/39 | 35/38 | 25/38 | 21/33 | 18/25 | -- | -- |
Category rows compare the Direct plans of 39 Arbitrage funds. Rank 1 is the highest return. This fund's benchmark is Nifty 50 Arbitrage Index. Returns of that index are not available to us, so the category average is the comparison.
| Year | Direct | Regular |
|---|---|---|
| 2026to date | +5.31% | +4.86% |
| 2025 | +6.93% | +6.23% |
| 2024 | +8.05% | +7.33% |
| 2023 | +7.79% | +7.07% |
The return of every holding period in the fund's history, not only the one that ends today
Rolling returns
Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 226 periods, one for each trading day from 28-11-2025 to 30-10-2026.
HSBC Arbitrage Fund (Direct)
Category average, 39 Arbitrage funds
Every holding period at a glance
| Period | Periods | Median | Lowest | Highest | With a loss | Category median | Beat category |
|---|---|---|---|---|---|---|---|
| 1 year | 720 | 7.6% | 6.0% | 8.7% | 0% | 7.6% | 53% |
| 2 years | 474 | 7.5% | 6.7% | 8.1% | 0% | 7.5% | 62% |
| 3 years | 226 | 7.4% | 7.1% | 7.7% | 0% | 7.4% | 92% |
Every SIP holding period at a glance
| Period | Periods | Median | Lowest | Highest | With a loss | Category median | Beat category |
|---|---|---|---|---|---|---|---|
| 1 year | 36 | 7.5% | 6.1% | 8.4% | 0% | 7.6% | 50% |
| 2 years | 24 | 7.2% | 6.5% | 8.0% | 0% | 7.2% | 58% |
Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat category" counts the periods in which the fund did better than the average of the 39 Arbitrage funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.
How much it swings, and the falls an investor had to sit through
Risk and return
| Measure | HSBC Arbitrage Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +6.54% | +6.61% |
| Standard deviation | 1.35% | 1.35% |
| Sharpe ratio | 0.96 | 1.01 |
| Sortino ratio | 1.45 | 1.54 |
| Maximum drawdown | −0.32% (26-08-2026) | −0.45% (06-08-2026) |
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.
| Measure | HSBC Arbitrage Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +7.17% | +7.18% |
| Standard deviation | 1.10% | 1.07% |
| Sharpe ratio | 1.04 | 1.08 |
| Sortino ratio | 1.56 | 1.65 |
| Maximum drawdown | −0.32% (26-08-2026) | −0.45% (06-08-2026) |
From daily NAVs, 30-10-2023 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.
| Measure | HSBC Arbitrage Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +7.37% | +7.35% |
| Standard deviation | 1.04% | 1.01% |
| Sharpe ratio | 1.15 | 1.17 |
| Sortino ratio | 1.72 | 1.79 |
| Maximum drawdown | −0.32% (26-08-2026) | −0.45% (06-08-2026) |
From daily NAVs, 28-11-2022 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.
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.
HSBC Arbitrage Fund (Direct)
Category average, 39 Arbitrage funds
| Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today | |
|---|---|---|---|---|---|---|
| HSBC Arbitrage Fund (Direct) | −0.32% | 24-08-2026 | 26-08-2026 | 01-09-2026 | 6 days | −0.06% |
| Category average | −0.45% | 03-08-2026 | 06-08-2026 | 24-08-2026 | 18 days | −0.04% |
From the Direct plan's daily NAV since 28-11-2022, adjusted for unit splits, and the average of the 39 Arbitrage funds (Direct plans, each weighted the same) over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.
The five Arbitrage funds with the best three year return, and this fund. Direct plans.
| Fund name | Rank | AUM (Cr) | Exp. ratio | 1Y return | 3Y return | 3Y alpha | 3Y beta | 3Y Sharpe | 3Y Sortino | |
|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Arbitrage Fund | 1/25 | 30,396 | 2.20% | +6.88% | +7.46% | -- | -- | 1.32 | 2.01 | Compare |
| Kotak Arbitrage Fund | 2/25 | 75,275 | 2.31% | +6.75% | +7.43% | -- | -- | 1.28 | 1.96 | Compare |
| Tata Arbitrage Fund | 2/25 | 24,539 | 1.57% | +6.77% | +7.43% | -- | -- | 1.39 | 2.16 | Compare |
| Aditya Birla Sun Life Arbitrage Fund | 4/25 | 26,933 | 1.23% | +6.75% | +7.40% | -- | -- | 1.29 | 2.00 | Compare |
| Edelweiss Arbitrage Fund | 5/25 | 14,250 | 1.53% | +6.66% | +7.37% | -- | -- | 1.27 | 1.98 | Compare |
| HSBC Arbitrage Fund | 18/25 | 3,633 | 1.45% | +6.54% | +7.17% | -- | -- | 1.04 | 1.56 |
AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.
What each plan charges a year, in force from 01-10-2026
| Plan | Base expense ratio | Brokerage | Transaction costs | Levies and GST | Total expense ratio | Arbitrage median | Cost rank (1 = cheapest) |
|---|---|---|---|---|---|---|---|
| Direct | 0.22% | 0.14% | 0.05% | 1.04% | 1.45% | 1.45% | 20/39 |
| Regular | 0.75% | 0.14% | 0.05% | 1.13% | 2.07% | 2.08% | 18/38 |
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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Arbitrage funds' plans of the same type are sorted from the lowest total expense ratio to the highest.
Direct vs Regular: what the gap cost
Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.
| Over the last | Regular | Direct | Direct earned more by | ₹1 lakh became (Regular) | ₹1 lakh became (Direct) |
|---|---|---|---|---|---|
| 1 year | 5.97% | 6.54% | 0.57% | ₹1,05,970 | ₹1,06,540 |
| 3 years | 6.50% | 7.17% | 0.67% a year | ₹1,20,795 | ₹1,23,089 |
Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.
What a one-time or monthly investment in this fund would be worth today, from its own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 28-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Direct planHSBC Arbitrage Fund (Direct) | ₹4,80,000 | ₹5,52,835 | ₹72,835 | 7.0% |
| Regular planHSBC Arbitrage Fund (Regular) | ₹4,80,000 | ₹5,45,681 | ₹65,681 | 6.4% |
| Category averageCategory average, 39 Arbitrage funds | ₹4,80,000 | ₹5,53,058 | ₹73,058 | 7.0% |
Direct planHSBC Arbitrage Fund (Direct)
Regular planHSBC Arbitrage Fund (Regular)
Category averageCategory average, 39 Arbitrage funds
Amount invested
From each plan's published NAV (Growth option) and the category average, 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.
Asset allocation as on 30-09-2026
69.0%Equity
| Asset | Fund | Category |
|---|---|---|
| Equity | 69.0% | 71.6% |
| Cash and others | 18.3% | 19.5% |
| Debt | 12.7% | 9.0% |
| Market cap | Fund | Category |
|---|---|---|
| Large Cap | 43.9% | 54.0% |
| Mid Cap | 16.1% | 14.1% |
| Small Cap | 9.0% | 3.5% |
Share of the whole fund. Category: the average of the Arbitrage funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Bonds and money market papers by credit rating, % of the fund. Category: the average of 39 Arbitrage funds.
| Rating | Fund | Category |
|---|---|---|
| AAA and A1+ | 12.7% | 5.8% |
Sector allocation of the fund's stocks as on 30-09-2026
Banks25.0%
Ferrous Metals5.5%
Petroleum Products5.0%
Finance4.8%
Power4.0%
Pharmaceuticals & Biotechnology3.4%
Consumer Durables2.9%
Insurance1.8%
Beverages1.7%
Telecom - Services1.5%
The ten largest of 41 sectors. The other 31 add up to 13.4%.
| Sector | July 2026 | August 2026 | September 2026 | Change |
|---|---|---|---|---|
| Banks | 25.1% | 25.1% | 25.0% | −0.1% |
| Ferrous Metals | 3.5% | 6.1% | 5.5% | +2.0% |
| Petroleum Products | 2.7% | 1.9% | 5.0% | +2.3% |
| Finance | 3.5% | 4.7% | 4.8% | +1.3% |
| Power | 6.6% | 4.5% | 4.0% | −2.6% |
Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.
As on 30-09-2026 · 157 holdings · from the fund house's monthly portfolio
| Holdings | Sector / Rating | Weight% | Holdings trend | 1M change |
|---|---|---|---|---|
| HSBC Money Market Fund - Direct Growth | Internal - Mutual Fund Units | 14.34% | ||
| ICICI Bank Limited | Banks | 5.32% | +65.7% | |
| Reliance Industries Limited | Petroleum Products | 4.84% | +336.2% | |
| HDFC Bank Limited | Banks | 4.78% | +6.7% | |
| Steel Authority of India Limited | Ferrous Metals | 3.24% | −2.0% | |
| Canara Bank | Banks | 3.04% | +1.3% | |
| Adani Power Limited | Power | 2.55% | +2.8% | |
| Bandhan Bank Limited | Banks | 2.36% | −13.9% | |
| HDFC Bank Limited · Certificate of deposit | CRISIL A1+ | 2.01% | ||
| NABARD · Certificate of deposit | CRISIL A1+ | 2.00% | ||
| Crompton Greaves Consumer Electrical Ltd | Consumer Durables | 2.00% | +51.7% | |
| Yes Bank Ltd | Banks | 1.83% | +3.9% | |
| HSBC Ultra Short Term Fund - Direct Growth | Internal - Mutual Fund Units | 1.76% | ||
| Varun Beverages Limited | Beverages | 1.74% | +8.5% | |
| IDFC First Bank Limited | Banks | 1.47% | +27.0% | |
| Punjab National Bank | Banks | 1.45% | −10.6% | |
| Axis Bank Limited | CRISIL A1+ | 1.35% | ||
| Bank of Baroda · Certificate of deposit | IND A1+ | 1.34% | ||
| Bank of Baroda · Certificate of deposit | IND A1+ | 1.34% | ||
| Union Bank of India · Certificate of deposit | ICRA A1+ | 1.34% | ||
| Godrej Properties Limited | Realty | 1.28% | +4.5% | |
| Axis Bank Limited | Banks | 1.26% | −9.7% | |
| HDFC Life Insurance Company Limited | Insurance | 1.26% | −13.0% | |
| Adani Energy Solutions Limited | Power | 1.24% | +5.4% | |
| NMDC Limited | Minerals & Mining | 1.17% | 0.0% | |
| JSW Steel Limited | Ferrous Metals | 1.11% | −1.0% | |
| Manappuram Finance Limited | Finance | 1.05% | +13.2% | |
| Indian Energy Exchange Limited | Capital Markets | 1.04% | −5.5% | |
| Bajaj Finance Limited | Finance | 0.98% | +180.2% | |
| Glenmark Pharmaceuticals Limited | Pharmaceuticals & Biotechnology | 0.97% | −6.1% | |
| Jio Financial Services Limited | Finance | 0.94% | −26.5% | |
| Tata Steel Limited | Ferrous Metals | 0.88% | +7.2% | |
| Divi''s Laboratories Limited | Pharmaceuticals & Biotechnology | 0.83% | +4542.9% | |
| State Bank of India | Banks | 0.82% | +52.4% | |
| Infosys Limited | IT - Software | 0.80% | +3.9% | |
| Ambuja Cements Limited | Cement & Cement Products | 0.79% | −2.0% | |
| ITC Limited | Diversified FMCG | 0.78% | −10.4% | |
| KALYAN JEWELLERS INDIA LIMITED | Consumer Durables | 0.78% | −25.3% | |
| LIC Housing Finance Limited | Finance | 0.75% | +3.6% | |
| Sun Pharmaceutical Industries Limited | Pharmaceuticals & Biotechnology | 0.73% | New | |
| AU Small Finance Bank Limited | Banks | 0.73% | −16.5% | |
| Axis Bank Limited | CRISIL A1+ | 0.68% | ||
| Punjab National Bank · Certificate of deposit | CRISIL A1+ | 0.67% | ||
| SIDBI · Certificate of deposit | CRISIL A1+ | 0.67% | ||
| The Federal Bank Limited | Banks | 0.66% | +130.8% | |
| Indian Bank · Certificate of deposit | CRISIL A1+ | 0.66% | ||
| Inox Wind Limited | Electrical Equipment | 0.65% | −1.7% | |
| SIDBI · Certificate of deposit | CARE A1+ | 0.65% | ||
| Indus Towers Limited | Telecom - Services | 0.64% | −26.1% | |
| NBCC (India) Limited | Construction | 0.62% | −4.3% | |
| Vodafone Idea Limited | Telecom - Services | 0.57% | −0.9% | |
| Container Corporation of India Limited | Transport Services | 0.56% | +5.2% | |
| Bharat Heavy Electricals Limited | Electrical Equipment | 0.52% | −1.1% | |
| Power Finance Corporation Limited | Finance | 0.51% | +20.3% | |
| Adani Enterprises Limited | Metals & Minerals Trading | 0.49% | +9.4% | |
| Life Insurance Corporation Of India | Insurance | 0.46% | +102.7% | |
| HDFC Asset Management Company Limited | Capital Markets | 0.43% | −19.0% | |
| Cummins India Limited | Industrial Products | 0.42% | +12.0% | |
| MphasiS Limited | IT - Software | 0.41% | +35.3% | |
| Coal India Limited | Consumable Fuels | 0.41% | −18.6% | |
| Biocon Limited | Pharmaceuticals & Biotechnology | 0.39% | +4.8% | |
| Laurus Labs Limited | Pharmaceuticals & Biotechnology | 0.38% | New | |
| IndusInd Bank Limited | Banks | 0.30% | New | |
| Bharti Airtel Limited | Telecom - Services | 0.30% | −50.9% | |
| Hindustan Unilever Limited | Diversified FMCG | 0.29% | −32.6% | |
| Bank of India | Banks | 0.29% | −28.5% | |
| Jindal Steel Limited | Ferrous Metals | 0.28% | +914.3% | |
| Kotak Mahindra Bank Limited | Banks | 0.26% | +151.1% | |
| The Indian Hotels Company Limited | Leisure Services | 0.25% | +43.7% | |
| Tata Motors Passenger Vehicles Limited | Automobiles | 0.21% | −19.2% | |
| Muthoot Finance Limited | Finance | 0.21% | +112.8% | |
| Bank of Baroda | Banks | 0.19% | −3.9% | |
| RBL Bank Limited | Banks | 0.18% | +64.5% | |
| Tata Consumer Products Limited | Agricultural Food & other Products | 0.17% | +3.4% | |
| APL Apollo Tubes Limited | Industrial Products | 0.17% | +300.0% | |
| GE Vernova T&D India Limited | Electrical Equipment | 0.16% | +11.1% | |
| Indian Oil Corporation Limited | Petroleum Products | 0.14% | −32.5% | |
| GAIL (India) Limited | Gas | 0.13% | +64.6% | |
| Colgate Palmolive (India) Limited | Personal Products | 0.13% | New | |
| Adani Green Energy Limited | Power | 0.13% | −40.0% | |
| PB Fintech Limited | Financial Technology (Fintech) | 0.13% | New | |
| Apollo Hospitals Enterprise Limited | Healthcare Services | 0.12% | −35.4% | |
| PNB Housing Finance Limited | Finance | 0.10% | +5000.0% | |
| Fortis Healthcare Limited | Healthcare Services | 0.09% | −3.4% | |
| Bharat Forge Limited | Auto Components | 0.09% | +16.7% | |
| Bajaj Holdings & Investment.Ltd | Finance | 0.08% | 0.0% | |
| Eternal Limited | Retailing | 0.08% | +1700.0% | |
| Hindalco Industries Limited | Non - Ferrous Metals | 0.07% | −39.3% | |
| Suzlon Energy Limited | Electrical Equipment | 0.07% | −4.0% | |
| Sagility Limited | IT - Services | 0.07% | +71.0% | |
| Delhivery Limited | Transport Services | 0.07% | +1500.0% | |
| Vedanta Limited | Diversified Metals | 0.07% | +68.8% | |
| Aditya Birla Capital Limited | Finance | 0.07% | −31.3% | |
| Hindustan Aeronautics Limited | Aerospace & Defense | 0.06% | +23.1% | |
| Maruti Suzuki India Limited | Automobiles | 0.06% | −60.4% | |
| Dabur India Limited | Personal Products | 0.05% | −4.7% | |
| Ashok Leyland Limited | Agricultural, Commercial & Construction Vehicles | 0.05% | +1150.0% | |
| Voltas Limited | Consumer Durables | 0.05% | −81.1% | |
| Tech Mahindra Limited | IT - Software | 0.05% | +133.3% | |
| TUBE INVESTMENTS OF INDIA LTD | Auto Components | 0.05% | +21.9% | |
| Larsen & Toubro Limited | Construction | 0.04% | +130.0% | |
| Hindustan Petroleum Corporation Limited | Petroleum Products | 0.04% | −88.5% | |
| SBI Life Insurance Company Limited | Insurance | 0.04% | −70.9% | |
| Marico Limited | Agricultural Food & other Products | 0.04% | +16.7% | |
| The Tata Power Company Limited | Power | 0.04% | −33.3% | |
| PG Electroplast Limited | Consumer Durables | 0.04% | +262.5% | |
| Coforge Limited | IT - Software | 0.04% | +260.0% | |
| Bajaj Finserv Limited | Finance | 0.04% | +2400.0% | |
| Hitachi Energy India Limited | Electrical Equipment | 0.03% | −81.1% | |
| Cholamandalam Invest & Finance Co Ltd | Finance | 0.03% | New | |
| Avenue Supermarts Limited | Retailing | 0.03% | New | |
| Bharat Electronics Limited | Aerospace & Defense | 0.03% | −73.5% | |
| Lupin Limited | Pharmaceuticals & Biotechnology | 0.03% | +600.0% | |
| Computer Age Management Services Limited | Capital Markets | 0.03% | −68.3% | |
| InterGlobe Aviation Limited | Transport Services | 0.03% | New | |
| ICICI Lombard General Insurance Company | Insurance | 0.03% | −41.9% | |
| Cipla Limited | Pharmaceuticals & Biotechnology | 0.02% | +87.5% | |
| Amber Enterprises India Limited | Consumer Durables | 0.02% | New | |
| Aurobindo Pharma Limited | Pharmaceuticals & Biotechnology | 0.02% | −77.8% | |
| Torrent Pharmaceuticals Limited | Pharmaceuticals & Biotechnology | 0.02% | +44.4% | |
| Union Bank of India | Banks | 0.02% | +60.0% | |
| Shriram Finance Limited | Finance | 0.02% | New | |
| One 97 Communications Limited | Financial Technology (Fintech) | 0.02% | New | |
| Zydus Lifesciences Limited | Pharmaceuticals & Biotechnology | 0.01% | +25.0% | |
| SBI Cards and Payment Services Limited | Finance | 0.01% | New | |
| National Aluminium Company Limited | Non - Ferrous Metals | 0.01% | New | |
| Supreme Industries Limited | Industrial Products | 0.01% | +600.0% | |
| Bosch Limited | Auto Components | 0.01% | New | |
| UNO Minda Limited | Auto Components | 0.01% | New | |
| TVS Motor Company Limited | Automobiles | 0.01% | New | |
| Alkem Laboratories Limited | Pharmaceuticals & Biotechnology | 0.01% | +66.7% | |
| SRF Limited | Chemicals & Petrochemicals | 0.01% | −61.5% | |
| NTPC Limited | Power | 0.01% | −86.7% | |
| Adani Port & Special Economic Zone Ltd | Transport Infrastructure | 0.01% | −95.0% | |
| Power Grid Corporation of India Limited | Power | 0.01% | −68.4% | |
| Astral Limited | Industrial Products | 0.00% | New | |
| SWIGGY LIMITED | Retailing | 0.00% | New | |
| Vishal Mega Mart Limited | Retailing | 0.00% | +200.0% | |
| Bharat Petroleum Corporation Limited | Petroleum Products | 0.00% | New | |
| CG Power And Industrial Solutions Ltd | Electrical Equipment | 0.00% | New | |
| Mahindra & Mahindra Limited | Automobiles | 0.00% | New | |
| JSW Energy Limited | Power | 0.00% | New | |
| Max Financial Services Limited | Insurance | 0.00% | −98.1% | |
| Oil & Natural Gas Corporation Limited | Oil | 0.00% | New | |
| Nestle India Limited | Food Products | 0.00% | New | |
| Hindustan Zinc Limited | Non - Ferrous Metals | 0.00% | −60.0% | |
| Pidilite Industries Limited | Chemicals & Petrochemicals | 0.00% | New | |
| Motilal Oswal Financial Services Limited | Capital Markets | 0.00% | +100.0% | |
| Bank of Maharashtra | Banks | 0.00% | New | |
| UltraTech Cement Limited | Cement & Cement Products | 0.00% | 0.0% | |
| Patanjali Foods Limited | Agricultural Food & other Products | 0.00% | −93.1% | |
| UPL Limited | Fertilizers & Agrochemicals | 0.00% | −94.1% | |
| Info Edge (India) Limited | Retailing | 0.00% | New | |
| Samvardhana Motherson International Ltd | Auto Components | 0.00% | −80.0% | |
| United Spirits Limited | Beverages | 0.00% | −76.9% | |
| HCL Technologies Limited | IT - Software | 0.00% | 0.0% | |
| Bajaj Auto Limited | Automobiles | 0.00% | −33.3% |
All changes are between August 2026 and September 2026
| ICICI Bank Limited | Added | +65.7% | 5.32% |
|---|---|---|---|
| HDFC Bank Limited | Added | +6.7% | 4.78% |
| Reliance Industries Limited | Added | +336.2% | 4.84% |
| Steel Authority of India Limited | Reduced | −2.0% | 3.24% |
| Canara Bank | Added | +1.3% | 3.04% |
| Bandhan Bank Limited | Reduced | −13.9% | 2.36% |
| Adani Power Limited | Added | +2.8% | 2.55% |
| Yes Bank Ltd | Added | +3.9% | 1.83% |
| Crompton Greaves Consumer Electrical Ltd | Added | +51.7% | 2.00% |
| Punjab National Bank | Reduced | −10.6% | 1.45% |
| Varun Beverages Limited | Added | +8.5% | 1.74% |
| Godrej Properties Limited | Added | +4.5% | 1.28% |
| HDFC Life Insurance Company Limited | Reduced | −13.0% | 1.26% |
| Axis Bank Limited | Reduced | −9.7% | 1.26% |
| Jio Financial Services Limited | Reduced | −26.5% | 0.94% |
| IDFC First Bank Limited | Added | +27.0% | 1.47% |
| Adani Energy Solutions Limited | Added | +5.4% | 1.24% |
| Indian Energy Exchange Limited | Reduced | −5.5% | 1.04% |
| JSW Steel Limited | Reduced | −1.0% | 1.11% |
| KALYAN JEWELLERS INDIA LIMITED | Reduced | −25.3% | 0.78% |
| Glenmark Pharmaceuticals Limited | Reduced | −6.1% | 0.97% |
| Manappuram Finance Limited | Added | +13.2% | 1.05% |
| AU Small Finance Bank Limited | Reduced | −16.5% | 0.73% |
| Indus Towers Limited | Reduced | −26.1% | 0.64% |
| Bajaj Finance Limited | Added | +180.2% | 0.98% |
| Infosys Limited | Added | +3.9% | 0.80% |
| Ambuja Cements Limited | Reduced | −2.0% | 0.79% |
| ITC Limited | Reduced | −10.4% | 0.78% |
| Tata Steel Limited | Added | +7.2% | 0.88% |
| Divi''s Laboratories Limited | Added | +4542.9% | 0.83% |
| State Bank of India | Added | +52.4% | 0.82% |
| LIC Housing Finance Limited | Added | +3.6% | 0.75% |
| NBCC (India) Limited | Reduced | −4.3% | 0.62% |
| Sun Pharmaceutical Industries Limited | New | New | 0.73% |
| Inox Wind Limited | Reduced | −1.7% | 0.65% |
| Bharti Airtel Limited | Reduced | −50.9% | 0.30% |
| Vodafone Idea Limited | Reduced | −0.9% | 0.57% |
| HDFC Asset Management Company Limited | Reduced | −19.0% | 0.43% |
| Container Corporation of India Limited | Added | +5.2% | 0.56% |
| The Federal Bank Limited | Added | +130.8% | 0.66% |
| Bharat Heavy Electricals Limited | Reduced | −1.1% | 0.52% |
| Coal India Limited | Reduced | −18.6% | 0.41% |
| Power Finance Corporation Limited | Added | +20.3% | 0.51% |
| Hindustan Unilever Limited | Reduced | −32.6% | 0.29% |
| Bank of India | Reduced | −28.5% | 0.29% |
| Adani Enterprises Limited | Added | +9.4% | 0.49% |
| Life Insurance Corporation Of India | Added | +102.7% | 0.46% |
| Biocon Limited | Added | +4.8% | 0.39% |
| Cummins India Limited | Added | +12.0% | 0.42% |
| MphasiS Limited | Added | +35.3% | 0.41% |
| Laurus Labs Limited | New | New | 0.38% |
| Hindustan Petroleum Corporation Limited | Reduced | −88.5% | 0.04% |
| Voltas Limited | Reduced | −81.1% | 0.05% |
| Tata Motors Passenger Vehicles Limited | Reduced | −19.2% | 0.21% |
| IndusInd Bank Limited | New | New | 0.30% |
| Jindal Steel Limited | Added | +914.3% | 0.28% |
| Kotak Mahindra Bank Limited | Added | +151.1% | 0.26% |
| The Indian Hotels Company Limited | Added | +43.7% | 0.25% |
| Indian Oil Corporation Limited | Reduced | −32.5% | 0.14% |
| Adani Green Energy Limited | Reduced | −40.0% | 0.13% |
| Bank of Baroda | Reduced | −3.9% | 0.19% |
| Apollo Hospitals Enterprise Limited | Reduced | −35.4% | 0.12% |
| Muthoot Finance Limited | Added | +112.8% | 0.21% |
| Max Financial Services Limited | Reduced | −98.1% | 0.00% |
| Tata Consumer Products Limited | Added | +3.4% | 0.17% |
| Hitachi Energy India Limited | Reduced | −81.1% | 0.03% |
| Maruti Suzuki India Limited | Reduced | −60.4% | 0.06% |
| RBL Bank Limited | Added | +64.5% | 0.18% |
| GE Vernova T&D India Limited | Added | +11.1% | 0.16% |
| APL Apollo Tubes Limited | Added | +300.0% | 0.17% |
| SBI Life Insurance Company Limited | Reduced | −70.9% | 0.04% |
| Adani Port & Special Economic Zone Ltd | Reduced | −95.0% | 0.01% |
| Hindalco Industries Limited | Reduced | −39.3% | 0.07% |
| Fortis Healthcare Limited | Reduced | −3.4% | 0.09% |
| GAIL (India) Limited | Added | +64.6% | 0.13% |
| Colgate Palmolive (India) Limited | New | New | 0.13% |
| PB Fintech Limited | New | New | 0.13% |
| Bharat Electronics Limited | Reduced | −73.5% | 0.03% |
| Computer Age Management Services Limited | Reduced | −68.3% | 0.03% |
| Aditya Birla Capital Limited | Reduced | −31.3% | 0.07% |
| Godrej Consumer Products Limited | Sold out | −100% | was 0.11% |
| DLF Limited | Sold out | −100% | was 0.11% |
| Aurobindo Pharma Limited | Reduced | −77.8% | 0.02% |
| Bharat Forge Limited | Added | +16.7% | 0.09% |
| PNB Housing Finance Limited | Added | +5000.0% | 0.10% |
| Suzlon Energy Limited | Reduced | −4.0% | 0.07% |
| UPL Limited | Reduced | −94.1% | 0.00% |
| Eternal Limited | Added | +1700.0% | 0.08% |
| Sagility Limited | Added | +71.0% | 0.07% |
| Delhivery Limited | Added | +1500.0% | 0.07% |
| Vedanta Limited | Added | +68.8% | 0.07% |
| The Tata Power Company Limited | Reduced | −33.3% | 0.04% |
| Patanjali Foods Limited | Reduced | −93.1% | 0.00% |
| NTPC Limited | Reduced | −86.7% | 0.01% |
| Dabur India Limited | Reduced | −4.7% | 0.05% |
| Hindustan Aeronautics Limited | Added | +23.1% | 0.06% |
| Ashok Leyland Limited | Added | +1150.0% | 0.05% |
| Tech Mahindra Limited | Added | +133.3% | 0.05% |
| ICICI Lombard General Insurance Company | Reduced | −41.9% | 0.03% |
| TUBE INVESTMENTS OF INDIA LTD | Added | +21.9% | 0.05% |
| Larsen & Toubro Limited | Added | +130.0% | 0.04% |
| Marico Limited | Added | +16.7% | 0.04% |
| PG Electroplast Limited | Added | +262.5% | 0.04% |
| Coforge Limited | Added | +260.0% | 0.04% |
| Bajaj Finserv Limited | Added | +2400.0% | 0.04% |
| Cholamandalam Invest & Finance Co Ltd | New | New | 0.03% |
| Avenue Supermarts Limited | New | New | 0.03% |
| Lupin Limited | Added | +600.0% | 0.03% |
| InterGlobe Aviation Limited | New | New | 0.03% |
| Power Grid Corporation of India Limited | Reduced | −68.4% | 0.01% |
| Cipla Limited | Added | +87.5% | 0.02% |
| Amber Enterprises India Limited | New | New | 0.02% |
| SRF Limited | Reduced | −61.5% | 0.01% |
| Torrent Pharmaceuticals Limited | Added | +44.4% | 0.02% |
| Union Bank of India | Added | +60.0% | 0.02% |
| Shriram Finance Limited | New | New | 0.02% |
| Samvardhana Motherson International Ltd | Reduced | −80.0% | 0.00% |
| United Spirits Limited | Reduced | −76.9% | 0.00% |
| One 97 Communications Limited | New | New | 0.02% |
| Tata Consultancy Services Limited | Sold out | −100% | was 0.02% |
| Zydus Lifesciences Limited | Added | +25.0% | 0.01% |
| SBI Cards and Payment Services Limited | New | New | 0.01% |
| National Aluminium Company Limited | New | New | 0.01% |
| Supreme Industries Limited | Added | +600.0% | 0.01% |
| Hindustan Zinc Limited | Reduced | −60.0% | 0.00% |
| Bosch Limited | New | New | 0.01% |
| UNO Minda Limited | New | New | 0.01% |
| TVS Motor Company Limited | New | New | 0.01% |
| Alkem Laboratories Limited | Added | +66.7% | 0.01% |
| Bajaj Auto Limited | Reduced | −33.3% | 0.00% |
| Asian Paints Limited | Sold out | −100% | was 0.01% |
| Max Healthcare Institute Limited | Sold out | −100% | was 0.01% |
| Petronet LNG Limited | Sold out | −100% | was 0.01% |
| Mankind Pharma Limited | Sold out | −100% | was 0.01% |
| Astral Limited | New | New | 0.00% |
| SWIGGY LIMITED | New | New | 0.00% |
| Vishal Mega Mart Limited | Added | +200.0% | 0.00% |
| Bharat Petroleum Corporation Limited | New | New | 0.00% |
| CG Power And Industrial Solutions Ltd | New | New | 0.00% |
| Mahindra & Mahindra Limited | New | New | 0.00% |
| JSW Energy Limited | New | New | 0.00% |
| Oil & Natural Gas Corporation Limited | New | New | 0.00% |
| Nestle India Limited | New | New | 0.00% |
| Pidilite Industries Limited | New | New | 0.00% |
| Motilal Oswal Financial Services Limited | Added | +100.0% | 0.00% |
| Bank of Maharashtra | New | New | 0.00% |
| Info Edge (India) Limited | New | New | 0.00% |
| Eicher Motors Limited | Sold out | −100% | was 0.00% |
No stocks in this group for September 2026.
A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.
Funds with the most similar portfolios, across every fund house and category
| Fund | Overlap | Holdings in common | |
|---|---|---|---|
| UTI - Arbitrage FundArbitrage · UTI | 46.4% | 128 | Compare |
| Invesco India Arbitrage FundArbitrage · Invesco | 45.3% | 145 | Compare |
| DSP Arbitrage fundArbitrage · DSP | 45.0% | 140 | Compare |
| Edelweiss Arbitrage FundArbitrage · Edelweiss | 44.8% | 141 | Compare |
| Nippon India Arbitrage FundArbitrage · Nippon India | 43.7% | 138 | Compare |
| Axis Arbitrage FundArbitrage · Axis | 43.4% | 135 | Compare |
| Bajaj Finserv Arbitrage FundArbitrage · Bajaj Finserv | 43.2% | 105 | Compare |
| Tata Arbitrage FundArbitrage · Tata | 42.5% | 131 | Compare |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.
Fund facts from the scheme summary document, as on 16-10-2026
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
| Plan | Option | NAV | As on |
|---|---|---|---|
| direct | Growth | ₹22.0761 | 30-10-2026 |
| direct | Monthly IDCW | ₹10.2128 | 30-10-2026 |
| direct | Quarterly IDCW | ₹10.7207 | 30-10-2026 |
| regular | Growth | ₹20.4655 | 30-10-2026 |
| regular | Monthly IDCW | ₹10.2008 | 30-10-2026 |
| regular | Quarterly IDCW | ₹10.6005 | 30-10-2026 |
HSBC Arbitrage Fund is a mutual fund from HSBC Mutual Fund. Its category is Arbitrage. It was launched on 30-06-2014. Its benchmark is Nifty 50 Arbitrage Index. At the end of September 2026 it held 157 securities.
Praveen Ayathan
Fund manager of HSBC Arbitrage Fund, since 30-06-2014
Mahesh Chhabria
Fund manager of HSBC Arbitrage Fund, since 15-07-2023
Mohd. Asif Rizwi
Fund manager of HSBC Arbitrage Fund, since 01-02-2025
See all funds of HSBC Mutual Fund
AUM moves with money invested or taken out, and with the value of what the fund holds.
Returns, risk, costs and the stocks they share, side by side
The Direct plan NAV is ₹22.0761. The Regular plan NAV is ₹20.4655, as on 30-10-2026.
The Direct plan returned +6.54% in 1 year, +7.17% a year over 3 years. The Regular plan returned +5.97% in 1 year, +6.50% a year over 3 years. These figures are as on 30-10-2026.
The Direct plan charges 1.45% a year. The Regular plan charges 2.07% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.
HSBC Arbitrage Fund managed ₹3,633.25 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
At the end of September 2026 the largest holdings were HSBC Money Market Fund - Direct Growth (14.34%), ICICIBANK (5.32%), RELIANCE (4.84%), HDFCBANK (4.78%), SAIL (3.24%). The fund held 157 securities in all.
It bought 27 new stocks: Astral Limited, SWIGGY LIMITED, SBI Cards and Payment Services Limited, Bharat Petroleum Corporation Limited, Sun Pharmaceutical Industries Limited. It sold out of 8: Asian Paints Limited, Max Healthcare Institute Limited, Eicher Motors Limited, Godrej Consumer Products Limited, DLF Limited. It added shares in 59. It reduced 54.
Through HSBC Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹5,000. You can invest once or through a monthly SIP.
Praveen Ayathan (since 30-06-2014), Mahesh Chhabria (since 15-07-2023), Mohd. Asif Rizwi (since 01-02-2025).
Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.
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.
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