TRUSTMF Arbitrage Fund is an Arbitrage fund run by Trust Mutual Fund. On 30-09-2026, it managed ₹138 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned 6.5% and its Regular plan returned 5.7%.
NAV on 30-10-2026: Direct Plan Growth ₹10.76 (up 0.12% that day); Regular Plan Growth ₹10.66 (up 0.11% 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) | +0.56% | +1.52% | +3.18% | +6.53% | -- | -- | -- |
| This fund (Regular) | +0.50% | +1.32% | +2.78% | +5.70% | -- | -- | -- |
| Arbitrage average | +0.56% | +1.52% | +3.20% | +6.62% | -- | -- | -- |
| Best in Arbitrage | +0.73% | +1.71% | +3.63% | +7.56% | -- | -- | -- |
| Worst in Arbitrage | +0.45% | +1.28% | +2.60% | +5.24% | -- | -- | -- |
| Rank in Arbitrage | 16/39 | 18/38 | 22/38 | 22/33 | -- | -- | -- |
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 | +5.30% | +4.62% |
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 1-year holding period, plotted on the day it ended. There are 39 periods, one for each trading day from 01-09-2026 to 30-10-2026.
TRUSTMF 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 | 39 | 6.5% | 6.2% | 6.7% | 0% | 6.6% | 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 | TRUSTMF Arbitrage Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +6.53% | +6.61% |
| Standard deviation | 1.41% | 1.35% |
| Sharpe ratio | 0.91 | 1.01 |
| Sortino ratio | 1.37 | 1.54 |
| Maximum drawdown | −0.41% (17-08-2026) | −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 | TRUSTMF Arbitrage Fund (Direct)This fund | Category average |
|---|---|---|
| Return (CAGR) | +6.47% | +6.55% |
| Standard deviation | 1.33% | 1.28% |
| Sharpe ratio | 0.89 | 0.98 |
| Sortino ratio | 1.34 | 1.50 |
| Maximum drawdown | −0.41% (17-08-2026) | −0.45% (06-08-2026) |
From daily NAVs, 01-09-2025 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.
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.
TRUSTMF 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 | |
|---|---|---|---|---|---|---|
| TRUSTMF Arbitrage Fund (Direct) | −0.41% | 03-08-2026 | 17-08-2026 | 24-08-2026 | 7 days | −0.08% |
| 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 01-09-2025, 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 |
| TRUSTMF Arbitrage Fund | 22/33 | 138 | 1.42% | +6.53% | -- | -- | -- | -- | -- |
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 | 0.17% | 0.21% | 0.00% | 1.04% | 1.42% | 1.45% | 18/39 |
| Regular | 0.85% | 0.21% | 0.00% | 1.13% | 2.19% | 2.08% | 23/38 |
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 | 5.70% | 6.53% | 0.83% | ₹1,05,700 | ₹1,06,530 |
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 01-09-2025 to 30-10-2026: 14 instalments, ₹1,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Direct planTRUSTMF Arbitrage Fund (Direct) | ₹1,40,000 | ₹1,45,491 | ₹5,491 | 6.4% |
| Regular planTRUSTMF Arbitrage Fund (Regular) | ₹1,40,000 | ₹1,44,781 | ₹4,781 | 5.5% |
| Category averageCategory average, 39 Arbitrage funds | ₹1,40,000 | ₹1,45,572 | ₹5,572 | 6.5% |
Direct planTRUSTMF Arbitrage Fund (Direct)
Regular planTRUSTMF 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
77.0%Equity
| Asset | Fund | Category |
|---|---|---|
| Equity | 77.0% | 71.6% |
| Cash and others | 23.0% | 19.5% |
| Market cap | Fund | Category |
|---|---|---|
| Large Cap | 61.3% | 54.0% |
| Mid Cap | 10.7% | 14.1% |
| Small Cap | 5.0% | 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.
Sector allocation of the fund's stocks as on 30-09-2026
Banks29.5%
Telecom - Services8.2%
Automobiles5.6%
Finance4.5%
Consumer Durables4.3%
Petroleum Products3.9%
Ferrous Metals2.3%
Industrial Products2.2%
Construction2.2%
Capital Markets2.1%
The ten largest of 26 sectors. The other 16 add up to 12.2%.
| Sector | July 2026 | August 2026 | September 2026 | Change |
|---|---|---|---|---|
| Banks | 29.4% | 32.5% | 29.5% | +0.1% |
| Telecom - Services | 4.7% | 8.2% | 8.2% | +3.5% |
| Automobiles | 7.2% | 4.8% | 5.6% | −1.6% |
| Finance | 5.7% | 4.2% | 4.5% | −1.2% |
| Consumer Durables | 5.2% | 4.4% | 4.3% | −0.9% |
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 · 57 holdings · from the fund house's monthly portfolio
| Holdings | Sector | Weight% | Holdings trend | 1M change |
|---|---|---|---|---|
| TRUSTMF Liquid Fund-Direct Plan-Growth | 18.59% | |||
| Canara Bank | Banks | 6.38% | −0.9% | |
| Axis Bank Limited | Banks | 5.61% | 0.0% | |
| ICICI Bank Limited | Banks | 4.09% | +103.3% | |
| HDFC Bank Limited | Banks | 4.08% | −38.1% | |
| Maruti Suzuki India Limited | Automobiles | 3.95% | +42.2% | |
| Reliance Industries Limited | Petroleum Products | 3.83% | +117.1% | |
| Bharti Airtel Limited | Telecom - Services | 3.15% | +26.8% | |
| Kalyan Jewellers India Limited | Consumer Durables | 2.93% | 0.0% | |
| Bajaj Finance Limited | Finance | 2.61% | 0.0% | |
| Vodafone Idea Limited | Telecom - Services | 2.55% | 0.0% | |
| Indus Towers Limited | Telecom - Services | 2.53% | 0.0% | |
| Tata Steel Limited | Ferrous Metals | 2.28% | +77.1% | |
| Larsen & Toubro Limited | Construction | 2.20% | +109.1% | |
| Bandhan Bank Limited | Banks | 1.91% | 0.0% | |
| Yes Bank Limited | Banks | 1.75% | 0.0% | |
| Astral Limited | Industrial Products | 1.73% | New | |
| Nestle India Limited | Food Products | 1.57% | +1000.0% | |
| State Bank of India | Banks | 1.51% | 0.0% | |
| Indian Energy Exchange Limited | Capital Markets | 1.49% | 0.0% | |
| Apollo Hospitals Enterprise Limited | Healthcare Services | 1.33% | 0.0% | |
| Punjab National Bank | Banks | 1.31% | 0.0% | |
| ITC Limited | Diversified FMCG | 1.25% | 0.0% | |
| Mahindra & Mahindra Limited | Automobiles | 1.07% | +212.5% | |
| Adani Energy Solutions Limited | Power | 0.97% | 0.0% | |
| The Indian Hotels Company Limited | Leisure Services | 0.95% | 0.0% | |
| Ambuja Cements Limited | Cement & Cement Products | 0.91% | 0.0% | |
| Kotak Mahindra Bank Limited | Banks | 0.85% | −33.3% | |
| UltraTech Cement Limited | Cement & Cement Products | 0.83% | 0.0% | |
| IDFC First Bank Limited | Banks | 0.82% | 0.0% | |
| Patanjali Foods Limited | Agricultural Food & other Products | 0.79% | 0.0% | |
| Cholamandalam Investment and Finance Company Ltd | Finance | 0.66% | 0.0% | |
| HDFC Asset Management Company Limited | Capital Markets | 0.65% | 0.0% | |
| Bank of Baroda | Banks | 0.64% | 0.0% | |
| Glenmark Pharmaceuticals Limited | Pharmaceuticals & Biotechnology | 0.64% | 0.0% | |
| Eicher Motors Limited | Automobiles | 0.62% | −36.8% | |
| Varun Beverages Limited | Beverages | 0.60% | 0.0% | |
| IndusInd Bank Limited | Banks | 0.55% | 0.0% | |
| Crompton Greaves Consumer Electricals Limited | Consumer Durables | 0.52% | 0.0% | |
| Cummins India Limited | Industrial Products | 0.48% | 0.0% | |
| Manappuram Finance Limited | Finance | 0.48% | New | |
| Titan Company Limited | Consumer Durables | 0.47% | New | |
| LIC Housing Finance Limited | Finance | 0.46% | 0.0% | |
| HDFC Life Insurance Company Limited | Insurance | 0.46% | 0.0% | |
| Info Edge (India) Limited | Retailing | 0.44% | 0.0% | |
| InterGlobe Aviation Limited | Transport Services | 0.38% | New | |
| Hindalco Industries Limited | Non - Ferrous Metals | 0.38% | +700.0% | |
| Asian Paints Limited | Consumer Durables | 0.35% | −20.0% | |
| Sun Pharmaceutical Industries Limited | Pharmaceuticals & Biotechnology | 0.23% | New | |
| Power Finance Corporation Limited | Finance | 0.21% | New | |
| Inox Wind Limited | Electrical Equipment | 0.13% | 0.0% | |
| Adani Ports and Special Economic Zone Limited | Transport Infrastructure | 0.12% | 0.0% | |
| Eternal Limited | Retailing | 0.11% | New | |
| SBI Cards and Payment Services Limited | Finance | 0.07% | New | |
| The Phoenix Mills Limited | Realty | 0.05% | 0.0% | |
| Indian Oil Corporation Limited | Petroleum Products | 0.05% | 0.0% | |
| Power Grid Corporation of India Limited | Power | 0.04% | 0.0% |
All changes are between August 2026 and September 2026
| Canara Bank | Reduced | −0.9% | 6.38% |
|---|---|---|---|
| HDFC Bank Limited | Reduced | −38.1% | 4.08% |
| ICICI Bank Limited | Added | +103.3% | 4.09% |
| Maruti Suzuki India Limited | Added | +42.2% | 3.95% |
| Reliance Industries Limited | Added | +117.1% | 3.83% |
| Bharti Airtel Limited | Added | +26.8% | 3.15% |
| Tata Steel Limited | Added | +77.1% | 2.28% |
| Larsen & Toubro Limited | Added | +109.1% | 2.20% |
| Astral Limited | New | New | 1.73% |
| Nestle India Limited | Added | +1000.0% | 1.57% |
| Kotak Mahindra Bank Limited | Reduced | −33.3% | 0.85% |
| Adani Enterprises Limited | Sold out | −100% | was 1.19% |
| Multi Commodity Exchange of India Limited | Sold out | −100% | was 1.14% |
| Eicher Motors Limited | Reduced | −36.8% | 0.62% |
| Mahindra & Mahindra Limited | Added | +212.5% | 1.07% |
| Hindustan Unilever Limited | Sold out | −100% | was 0.88% |
| Steel Authority of India Limited | Sold out | −100% | was 0.55% |
| UNO Minda Limited | Sold out | −100% | was 0.52% |
| Asian Paints Limited | Reduced | −20.0% | 0.35% |
| Manappuram Finance Limited | New | New | 0.48% |
| Titan Company Limited | New | New | 0.47% |
| DLF Limited | Sold out | −100% | was 0.44% |
| Hindalco Industries Limited | Added | +700.0% | 0.38% |
| InterGlobe Aviation Limited | New | New | 0.38% |
| Grasim Industries Limited | Sold out | −100% | was 0.31% |
| Coal India Limited | Sold out | −100% | was 0.28% |
| Sun Pharmaceutical Industries Limited | New | New | 0.23% |
| Power Finance Corporation Limited | New | New | 0.21% |
| Eternal Limited | New | New | 0.11% |
| Polycab India Limited | Sold out | −100% | was 0.09% |
| One 97 Communications Limited | Sold out | −100% | was 0.09% |
| SBI Cards and Payment Services Limited | New | New | 0.07% |
| Havells India Limited | Sold out | −100% | was 0.05% |
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 | |
|---|---|---|---|
| JM Arbitrage FundArbitrage · JM Financial | 42.0% | 49 | Compare |
| HDFC Arbitrage FundArbitrage · HDFC | 40.0% | 54 | Compare |
| SBI BSE 100 ETFETF · SBI | 39.7% | 41 | Compare |
| Mirae Asset Large Cap FundLarge Cap · Mirae Asset | 39.7% | 29 | Compare |
| Nippon India Arbitrage FundArbitrage · Nippon India | 39.5% | 53 | Compare |
| Parag Parikh Arbitrage FundArbitrage · PPFAS | 39.4% | 35 | Compare |
| DSP Arbitrage fundArbitrage · DSP | 39.1% | 55 | Compare |
| Bandhan Nifty 100 Index FundIndex · Bandhan | 39.0% | 38 | 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 | ₹10.7554 | 30-10-2026 |
| regular | Growth | ₹10.6563 | 30-10-2026 |
TRUSTMF Arbitrage Fund is a mutual fund from Trust Mutual Fund. Its category is Arbitrage. It was launched on 28-08-2025. Its benchmark is Nifty 50 Arbitrage Index. At the end of September 2026 it held 57 securities.
Mihir Vora
Fund manager of TRUSTMF Arbitrage Fund
Sachin Parekh
Fund manager of TRUSTMF Arbitrage Fund
See all funds of Trust 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 ₹10.7554. The Regular plan NAV is ₹10.6563, as on 30-10-2026.
The Direct plan returned +6.53% in 1 year. The Regular plan returned +5.70% in 1 year. These figures are as on 30-10-2026.
The Direct plan charges 1.42% a year. The Regular plan charges 2.19% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.
TRUSTMF Arbitrage Fund managed ₹137.83 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
At the end of September 2026 the largest holdings were TRUSTMF Liquid Fund-Direct Plan-Growth (18.59%), CANBK (6.38%), AXISBANK (5.61%), ICICIBANK (4.09%), HDFCBANK (4.08%). The fund held 57 securities in all.
It bought 8 new stocks: Astral Limited, SBI Cards and Payment Services Limited, Sun Pharmaceutical Industries Limited, Power Finance Corporation Limited, Titan Company Limited. It sold out of 11: Hindustan Unilever Limited, Grasim Industries Limited, Steel Authority of India Limited, Havells India Limited, DLF Limited. It added shares in 9. It reduced 5.
Through Trust 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 ₹1,000. You can invest once or through a monthly SIP.
Mihir Vora, Sachin Parekh.
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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