ITI Arbitrage Fund is an Arbitrage fund run by ITI Mutual Fund. On 30-09-2026, it managed ₹65 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.3% a year and its Regular plan returned 6.5% a year.
NAV on 30-10-2026: Direct Plan Growth ₹14.70 (up 0.19% that day); Regular Plan Growth ₹13.95 (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) | +0.57% | +1.46% | +2.92% | +6.38% | +7.25% | +6.26% | -- |
| This fund (Regular) | +0.51% | +1.28% | +2.57% | +5.64% | +6.48% | +5.48% | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | +7.18% | +6.68% | -- |
| Best in Arbitrage | +0.73% | +1.71% | +3.63% | +7.56% | +7.46% | +7.14% | -- |
| Worst in Arbitrage | +0.45% | +1.28% | +2.60% | +5.24% | +6.42% | +5.89% | -- |
| Rank in Arbitrage | 14/39 | 32/38 | 37/38 | 30/33 | 13/25 | 18/20 | -- |
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 | +5.21% | +4.59% |
| 2025 | +7.32% | +6.55% |
| 2024 | +8.03% | +7.24% |
| 2023 | +7.15% | +6.35% |
| 2022 | +3.23% | +2.44% |
| 2021 | +3.15% | +2.38% |
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 1,016 periods, one for each trading day from 12-09-2022 to 30-10-2026.
ITI 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 | 1,509 | 6.2% | 2.5% | 8.7% | 0% | 6.5% | 34% |
| 2 years | 1,263 | 6.0% | 2.9% | 8.2% | 0% | 6.7% | 32% |
| 3 years | 1,016 | 5.8% | 3.2% | 7.8% | 0% | 6.5% | 18% |
| 5 years | 525 | 5.6% | 4.9% | 6.3% | 0% | 6.1% | 0% |
| 7 years | 30 | 5.5% | 5.5% | 5.6% | 0% | 6.0% | 0% |
Every SIP holding period at a glance
| Period | Periods | Median | Lowest | Highest | With a loss | Category median | Beat category |
|---|---|---|---|---|---|---|---|
| 1 year | 74 | 6.4% | 2.7% | 8.4% | 0% | 6.6% | 34% |
| 2 years | 62 | 6.7% | 3.0% | 8.1% | 0% | 6.9% | 29% |
| 3 years | 50 | 6.9% | 3.1% | 7.7% | 0% | 7.1% | 28% |
| 5 years | 26 | 6.6% | 5.7% | 7.0% | 0% | 6.9% | 0% |
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 | ITI Arbitrage Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +6.38% | +6.61% |
| Standard deviation | 1.57% | 1.35% |
| Sharpe ratio | 0.73 | 1.01 |
| Sortino ratio | 1.06 | 1.54 |
| Maximum drawdown | −0.57% (29-09-2026) | −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 | ITI Arbitrage Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +7.25% | +7.18% |
| Standard deviation | 1.23% | 1.07% |
| Sharpe ratio | 1.00 | 1.08 |
| Sortino ratio | 1.48 | 1.65 |
| Maximum drawdown | −0.57% (29-09-2026) | −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 | ITI Arbitrage Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +6.26% | +6.65% |
| Standard deviation | 1.10% | 0.98% |
| Sharpe ratio | 0.42 | 0.87 |
| Sortino ratio | 0.61 | 1.32 |
| Maximum drawdown | −0.57% (29-09-2026) | −0.45% (06-08-2026) |
From daily NAVs, 29-10-2021 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 | ITI Arbitrage Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +5.53% | +6.02% |
| Standard deviation | 1.12% | 1.00% |
| Sharpe ratio | 0.36 | 0.89 |
| Sortino ratio | 0.51 | 1.32 |
| Maximum drawdown | −0.58% (07-04-2020) | −0.53% (03-06-2020) |
From daily NAVs, 12-09-2019 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.
ITI 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 | |
|---|---|---|---|---|---|---|
| ITI Arbitrage Fund (Direct) | −0.58% | 16-03-2020 | 07-04-2020 | 30-04-2020 | 23 days | 0.0% |
| Category average | −0.53% | 29-05-2020 | 03-06-2020 | 14-08-2020 | 2 months | −0.04% |
From the Direct plan's daily NAV since 12-09-2019, 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 |
| ITI Arbitrage Fund | 13/25 | 65 | 1.10% | +6.38% | +7.25% | -- | -- | 1.00 | 1.48 |
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 | 0.21% | 0.21% | 0.00% | 0.68% | 1.10% | 1.45% | 8/39 |
| Regular | 0.81% | 0.21% | 0.00% | 0.78% | 1.80% | 2.08% | 5/38 |
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 | 5.64% | 6.38% | 0.74% | ₹1,05,640 | ₹1,06,380 |
| 3 years | 6.48% | 7.25% | 0.77% a year | ₹1,20,727 | ₹1,23,365 |
| 5 years | 5.48% | 6.26% | 0.78% a year | ₹1,30,572 | ₹1,35,472 |
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 12-09-2019 to 30-10-2026: 86 instalments, ₹8,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Direct planITI Arbitrage Fund (Direct) | ₹8,60,000 | ₹10,79,521 | ₹2,19,521 | 6.3% |
| Regular planITI Arbitrage Fund (Regular) | ₹8,60,000 | ₹10,49,724 | ₹1,89,724 | 5.5% |
| Category averageCategory average, 39 Arbitrage funds | ₹8,60,000 | ₹10,91,809 | ₹2,31,809 | 6.6% |
Direct planITI Arbitrage Fund (Direct)
Regular planITI 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
65.4%Equity
| Asset | Fund | Category |
|---|---|---|
| Equity | 65.4% | 71.6% |
| Cash and others | 34.6% | 19.5% |
| Market cap | Fund | Category |
|---|---|---|
| Large Cap | 35.4% | 54.0% |
| Mid Cap | 27.1% | 14.1% |
| Small Cap | 2.9% | 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.
Sector allocation of the fund's stocks as on 30-09-2026
Banks15.3%
Financial Technology (Fintech)8.8%
Finance8.3%
Industrial Products4.6%
Insurance4.5%
Transport Infrastructure3.6%
Non - Ferrous Metals3.3%
Telecom - Services3.2%
Beverages3.1%
Consumer Durables2.0%
The ten largest of 17 sectors. The other 7 add up to 8.8%.
| Sector | July 2026 | August 2026 | September 2026 | Change |
|---|---|---|---|---|
| Banks | 17.3% | 17.7% | 15.3% | −2.0% |
| Financial Technology (Fintech) | 6.4% | 9.3% | 8.8% | +2.4% |
| Finance | 13.7% | 10.0% | 8.3% | −5.4% |
| Industrial Products | 4.8% | 5.0% | 4.6% | −0.2% |
| Insurance | 2.9% | 3.9% | 4.5% | +1.6% |
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 · 30 holdings · from the fund house's monthly portfolio
| Holdings | Sector | Weight% | Holdings trend | 1M change |
|---|---|---|---|---|
| ITI Liquid Fund - Direct Plan - Growth Option | 14.82% | |||
| One 97 Communications Limited | Financial Technology (Fintech) | 8.83% | 0.0% | |
| HDFC Bank Limited | Banks | 5.69% | 0.0% | |
| Cummins India Limited | Industrial Products | 4.56% | 0.0% | |
| Power Finance Corporation Limited | Finance | 4.44% | 0.0% | |
| Adani Ports and Special Economic Zone Limited | Transport Infrastructure | 3.56% | 0.0% | |
| Bharti Airtel Limited | Telecom - Services | 3.22% | 0.0% | |
| Varun Beverages Limited | Beverages | 3.06% | 0.0% | |
| AU Small Finance Bank Limited | Banks | 2.34% | +50.0% | |
| Shriram Finance Limited | Finance | 2.25% | 0.0% | |
| IndusInd Bank Limited | Banks | 2.14% | 0.0% | |
| RBL Bank Limited | Banks | 1.98% | 0.0% | |
| Godfrey Phillips India Limited | Cigarettes & Tobacco Products | 1.93% | +71.4% | |
| ICICI Lombard General Insurance Company Limited | Insurance | 1.92% | +71.4% | |
| National Aluminium Company Limited | Non - Ferrous Metals | 1.78% | +80.0% | |
| Hindustan Petroleum Corporation Limited | Petroleum Products | 1.64% | New | |
| Aditya Birla Capital Limited | Finance | 1.64% | 0.0% | |
| Persistent Systems Limited | IT - Software | 1.53% | 0.0% | |
| HDFC Life Insurance Company Limited | Insurance | 1.51% | 0.0% | |
| Hindustan Zinc Limited | Non - Ferrous Metals | 1.50% | 0.0% | |
| Ambuja Cements Limited | Cement & Cement Products | 1.46% | 0.0% | |
| Canara Bank | Banks | 1.37% | 0.0% | |
| Bank of India | Banks | 1.25% | 0.0% | |
| Kalyan Jewellers India Limited | Consumer Durables | 1.04% | 0.0% | |
| Max Financial Services Limited | Insurance | 1.02% | 0.0% | |
| Amber Enterprises India Limited | Consumer Durables | 0.93% | 0.0% | |
| Larsen & Toubro Limited | Construction | 0.81% | New | |
| ITC Limited | Diversified FMCG | 0.70% | 0.0% | |
| Adani Energy Solutions Limited | Power | 0.69% | 0.0% | |
| Punjab National Bank | Banks | 0.56% | 0.0% |
All changes are between August 2026 and September 2026
| AU Small Finance Bank Limited | Added | +50.0% | 2.34% |
|---|---|---|---|
| Bandhan Bank Limited | Sold out | −100% | was 2.24% |
| UNO Minda Limited | Sold out | −100% | was 2.01% |
| Godfrey Phillips India Limited | Added | +71.4% | 1.93% |
| ICICI Lombard General Insurance Company Limited | Added | +71.4% | 1.92% |
| National Aluminium Company Limited | Added | +80.0% | 1.78% |
| Hindustan Petroleum Corporation Limited | New | New | 1.64% |
| Larsen & Toubro Limited | New | New | 0.81% |
| Jio Financial Services Limited | Sold out | −100% | was 0.81% |
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 | |
|---|---|---|---|
| Tata Business Cycle FundThematic · Tata | 20.9% | 12 | Compare |
| Baroda BNP Paribas Large and Mid Cap fundLarge & Mid Cap · Baroda BNP Paribas | 20.5% | 11 | Compare |
| Samco Arbitrage FundArbitrage · Samco | 20.4% | 6 | Compare |
| Helios Large & Mid Cap FundLarge & Mid Cap · Helios | 19.9% | 10 | Compare |
| LIC MF Banking and Financial Services FundThematic · LIC | 19.7% | 7 | Compare |
| UTI - BSE Sensex Next 50 Exchange Traded FundIndex · UTI | 19.6% | 11 | Compare |
| SBI BSE Sensex Next 50 ETFETF · SBI | 19.6% | 11 | Compare |
| Nippon India ETF BSE Sensex Next 50ETF · Nippon India | 19.6% | 11 | 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 | ₹14.7034 | 30-10-2026 |
| direct | IDCW | ₹14.7034 | 30-10-2026 |
| regular | Growth | ₹13.9469 | 30-10-2026 |
| regular | IDCW | ₹13.9469 | 30-10-2026 |
ITI Arbitrage Fund is a mutual fund from ITI Mutual Fund. Its category is Arbitrage. It was launched on 09-09-2019. Its benchmark is Nifty 50 Arbitrage Index. At the end of September 2026 it held 30 securities.
Vikas Nathani
Fund manager of ITI Arbitrage Fund, since 01-01-2024
Animesh Singh
Fund manager of ITI Arbitrage Fund, since 08-05-2026
Laukik Bagwe
Fund manager of ITI Arbitrage Fund, since 01-02-2025
See all funds of ITI 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 ₹14.7034. The Regular plan NAV is ₹13.9469, as on 30-10-2026.
The Direct plan returned +6.38% in 1 year, +7.25% a year over 3 years, +6.26% a year over 5 years. The Regular plan returned +5.64% in 1 year, +6.48% a year over 3 years, +5.48% a year over 5 years. These figures are as on 30-10-2026.
The Direct plan charges 1.10% a year. The Regular plan charges 1.80% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.
ITI Arbitrage Fund managed ₹64.76 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
At the end of September 2026 the largest holdings were ITI Liquid Fund - Direct Plan - Growth Option (14.82%), PAYTM (8.83%), HDFCBANK (5.69%), CUMMINSIND (4.56%), PFC (4.44%). The fund held 30 securities in all.
It bought 2 new stocks: Larsen & Toubro Limited, Hindustan Petroleum Corporation Limited. It sold out of 3: UNO Minda Limited, Bandhan Bank Limited, Jio Financial Services Limited. It added shares in 4.
Through ITI 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.
Vikas Nathani (since 01-01-2024), Animesh Singh (since 08-05-2026), Laukik Bagwe (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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