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Best Arbitrage Mutual Funds

Arbitrage·10 Arbitrage schemes ranked by a 5Y / 3Y / 1Y composite percentile. Top-ranked: Invesco India Arbitrage Fund - Regular Plan - Growth Option.

Long-Term Ranking10 SchemesUpdated 4 Nov 2026

Top Ranked

Invesco India Arbitrage Fund - Regular Plan - Growth Option

#1

Best 1Y Return

Invesco India Arbitrage Fund - Regular Plan - Growth Option

6.22%

Best 3Y Return

Kotak Arbitrage Fund - Regular Plan - Growth

6.81%

Best 5Y Return

Invesco India Arbitrage Fund - Regular Plan - Growth Option

6.47%

Arbitrage — At a Glance

CategoryArbitrage
View TypeLong-Term Ranking
Funds Ranked10
MethodologyFunds are ranked using a composite of 5-year (45%), 3-year (35%) and 1-year (20%) percentile performance within their category. Rankings are a research aid and not investment advice.
Data SourceNAV history sourced from AMFI data feeds
Last Updated4 Nov 2026
NotInvestment advice, buy/sell recommendation, guaranteed returns

What Are Arbitrage Mutual Funds?

The Arbitrage funds below are ranked by a composite of 5-year (45%), 3-year (35%) and 1-year (20%) percentile performance within their own category. Longer horizons are weighted higher so that a single strong year does not dominate the ranking. This is a research aid, not investment advice.

Regulatory framework for Indian mutual funds is governed by SEBI, with industry data published by AMFI.

Which Are the Best Arbitrage Mutual Funds?

10 funds
RankFundFund House1Y3Y5Y
1Invesco India Arbitrage Fund - Regular Plan - Growth OptionInvesco Mutual Fund6.22%6.75%6.47%
2Kotak Arbitrage Fund - Regular Plan - GrowthKotak Mahindra Mutual Fund6.17%6.81%6.38%
3SBI Arbitrage Fund - Regular Plan - GrSBI Mutual Fund6.17%6.73%6.35%
4UTI Arbitrage Fund - Regular Plan - Growth OptionUTI Mutual Fund6.12%6.78%6.22%
5ICICI Prudential Arbitrage Fund - GrowthICICI Prudential Mutual Fund6.17%6.73%6.22%
6HDFC ARBITRAGE FUND - Regular Plan -Growth OptionHDFC Mutual Fund6.18%6.73%6.21%
7Edelweiss Arbitrage Fund- Regular Plan- Growth OptionEdelweiss Mutual Fund6.04%6.68%6.23%
8HDFC ARBITRAGE FUND - Retail Growth OptionHDFC Mutual Fund6.15%6.73%6.04%
9Aditya BIRLA SUN LIFE ARBITRAGE FUND - REGULAR PLAN - GROWTHAditya Birla Sun Life Mutual Fund6.06%6.66%6.14%
10Axis Arbitrage Fund - Regular Plan - GrowthAxis Mutual Fund6.03%6.63%6.15%

Data reflects trailing returns as of 4 Nov 2026. Past performance does not guarantee future results.

Explore Other Views of Arbitrage

This page shows the long-term ranking view. The same Arbitrage funds can also be seen through a different lens — pick whichever answers your question.

Top Performing

Arbitrage — Top Performing

Recent momentum screen — weighted toward the last 3, 6 and 9 months.

Return Comparison

Arbitrage — Return Comparison

Raw trailing returns across all six periods, side-by-side, no composite ranking.

Scheme-by-Scheme Breakdown

10 funds analysed

Below is a fund-by-fund analysis of the Arbitrage schemes listed on this page. Each entry covers the fund's position, its trailing returns, and a short characterisation of its return profile within the category.

Top Performer
#1

Invesco India Arbitrage Fund - Regular Plan - Growth Option

Invesco Mutual Fund

1Y:6.22%3Y:6.75%5Y:6.47%

Invesco India Arbitrage Fund - Regular Plan - Growth Option from Invesco Mutual Fund holds the #1 position on this Arbitrage long-term composite ranking, out of 10 funds evaluated.

As of the latest snapshot, the fund has delivered a 5-year return of 6.47%, a 3-year return of 6.75%, a 1-year return of 6.22%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by Invesco Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

#2

Kotak Arbitrage Fund - Regular Plan - Growth

Kotak Mahindra Mutual Fund

1Y:6.17%3Y:6.81%5Y:6.38%

Kotak Arbitrage Fund - Regular Plan - Growth from Kotak Mahindra Mutual Fund sits in the top 3 on this Arbitrage long-term composite ranking, at #2 of 10.

As of the latest snapshot, the fund has delivered a 5-year return of 6.38%, a 3-year return of 6.81%, a 1-year return of 6.17%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by Kotak Mahindra Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

#3

SBI Arbitrage Fund - Regular Plan - Gr

SBI Mutual Fund

1Y:6.17%3Y:6.73%5Y:6.35%

SBI Arbitrage Fund - Regular Plan - Gr from SBI Mutual Fund sits in the top 3 on this Arbitrage long-term composite ranking, at #3 of 10.

As of the latest snapshot, the fund has delivered a 5-year return of 6.35%, a 3-year return of 6.73%, a 1-year return of 6.17%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by SBI Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

#4

UTI Arbitrage Fund - Regular Plan - Growth Option

UTI Mutual Fund

1Y:6.12%3Y:6.78%5Y:6.22%

UTI Arbitrage Fund - Regular Plan - Growth Option from UTI Mutual Fund appears at #4 of 10 on this Arbitrage long-term composite ranking — a position in the upper half of the funds tracked on this page.

As of the latest snapshot, the fund has delivered a 5-year return of 6.22%, a 3-year return of 6.78%, a 1-year return of 6.12%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by UTI Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

#5

ICICI Prudential Arbitrage Fund - Growth

ICICI Prudential Mutual Fund

1Y:6.17%3Y:6.73%5Y:6.22%

ICICI Prudential Arbitrage Fund - Growth from ICICI Prudential Mutual Fund appears at #5 of 10 on this Arbitrage long-term composite ranking — a position in the upper half of the funds tracked on this page.

As of the latest snapshot, the fund has delivered a 5-year return of 6.22%, a 3-year return of 6.73%, a 1-year return of 6.17%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by ICICI Prudential Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

#6

HDFC ARBITRAGE FUND - Regular Plan -Growth Option

HDFC Mutual Fund

1Y:6.18%3Y:6.73%5Y:6.21%

HDFC ARBITRAGE FUND - Regular Plan -Growth Option from HDFC Mutual Fund is included on this Arbitrage screen at #6 of 10. Its presence here reflects that its returns are part of the current set the ranking is drawn from.

As of the latest snapshot, the fund has delivered a 5-year return of 6.21%, a 3-year return of 6.73%, a 1-year return of 6.18%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by HDFC Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

#7

Edelweiss Arbitrage Fund- Regular Plan- Growth Option

Edelweiss Mutual Fund

1Y:6.04%3Y:6.68%5Y:6.23%

Edelweiss Arbitrage Fund- Regular Plan- Growth Option from Edelweiss Mutual Fund is included on this Arbitrage screen at #7 of 10. Its presence here reflects that its returns are part of the current set the ranking is drawn from.

As of the latest snapshot, the fund has delivered a 5-year return of 6.23%, a 3-year return of 6.68%, a 1-year return of 6.04%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by Edelweiss Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

#8

HDFC ARBITRAGE FUND - Retail Growth Option

HDFC Mutual Fund

1Y:6.15%3Y:6.73%5Y:6.04%

HDFC ARBITRAGE FUND - Retail Growth Option from HDFC Mutual Fund is included on this Arbitrage screen at #8 of 10. Its presence here reflects that its returns are part of the current set the ranking is drawn from.

As of the latest snapshot, the fund has delivered a 5-year return of 6.04%, a 3-year return of 6.73%, a 1-year return of 6.15%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by HDFC Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

#9

Aditya BIRLA SUN LIFE ARBITRAGE FUND - REGULAR PLAN - GROWTH

Aditya Birla Sun Life Mutual Fund

1Y:6.06%3Y:6.66%5Y:6.14%

Aditya BIRLA SUN LIFE ARBITRAGE FUND - REGULAR PLAN - GROWTH from Aditya Birla Sun Life Mutual Fund is included on this Arbitrage screen at #9 of 10. Its presence here reflects that its returns are part of the current set the ranking is drawn from.

As of the latest snapshot, the fund has delivered a 5-year return of 6.14%, a 3-year return of 6.66%, a 1-year return of 6.06%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by Aditya Birla Sun Life Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

#10

Axis Arbitrage Fund - Regular Plan - Growth

Axis Mutual Fund

1Y:6.03%3Y:6.63%5Y:6.15%

Axis Arbitrage Fund - Regular Plan - Growth from Axis Mutual Fund is included on this Arbitrage screen at #10 of 10. Its presence here reflects that its returns are part of the current set the ranking is drawn from.

As of the latest snapshot, the fund has delivered a 5-year return of 6.15%, a 3-year return of 6.63%, a 1-year return of 6.03%.

Its 1-year and 5-year returns are closely aligned, indicating steady compounding rather than dramatic swings. For investors who prioritise consistency over episodic outperformance, this return profile is often easier to hold through market cycles.

The scheme is managed by Axis Mutual Fund, one of the asset management companies offering Arbitrage funds in India.

How Are These Arbitrage Funds Ranked?

Funds are ranked using a composite of 5-year (45%), 3-year (35%) and 1-year (20%) percentile performance within their category. Rankings are a research aid and not investment advice.

Who Should Consider This Category?

  • →Investors whose risk profile and time horizon align with the Arbitrage mandate.
  • →Investors looking for professionally managed exposure rather than picking individual securities.
  • →Investors comfortable with the volatility typical of this category and able to stay invested through cycles.
  • →Advisors and researchers using this page as a starting point before deeper due diligence.

Factors to Consider Before Investing

Four signals worth checking before you commit.

Track Record

Look at consistency across 1-year, 3-year and 5-year windows. A single strong year rarely tells the whole story — the longer the history, the more reliable the signal.

Expense Ratio

Small differences in expense ratio compound meaningfully over long horizons. Compare funds within the same plan type (Direct vs Regular) before judging.

Fund Manager Tenure

A change in fund manager can change investment style. Confirm the current manager has been in place for a meaningful portion of the track record you're relying on.

Portfolio Overlap

If you already hold funds in adjacent categories, check for overlap. Holding three funds that own the same 40 stocks doesn't diversify anything.

Why Multi-Period Ranking Matters

A single strong year is not a track record. Markets rotate. A fund that dominates one calendar year can lag the next. Ranking on a single window rewards funds that happen to be positioned well for a specific stretch — not funds that compound reliably.

Percentile within category, not raw percentage. Comparing an 18% return in Large Cap to an 18% return in Small Cap makes no sense — different risk, different universe. On this page, every fund is scored against its direct peers, in the same category, on the same period. Only then are the numbers combined.

Longer horizons carry more weight. For the long-term ranking (Best), 5-year performance is weighted at 45%, 3-year at 35%, 1-year at 20%. This structure is designed to favour funds that have delivered over full market cycles rather than over the last twelve months.

💡 Pro Tip: Use the Returns page to see the raw numbers, the Top page for recent momentum, and the Best page for a longer-horizon ranking. Different questions need different views.

Three Views — One Category

Each page type answers a different question about the same funds.

Page TypeQuestion AnsweredPeriods UsedBest For
BestStrongest sustained performance1Y (20%), 3Y (35%), 5Y (45%)Long-term investors
TopRecent momentum within category3M (40%), 6M (30%), 9M (20%), 1Y (10%)Short-to-medium horizon
ReturnsWhat returns were actually deliveredAll six periods, no rankingSide-by-side comparison

Data Sources

  • →NAV history sourced from AMFI data feeds.
  • →Trailing returns computed from adjusted NAV, accounting for dividends and splits.
  • →Rankings recalculated nightly. Page regenerated automatically.
  • →Every fund on this page is only ever compared to funds in the same SEBI category.

What Makes This Different

  • Multi-period composite — not a single-window ranking.
  • Percentile-based scoring so categories are compared fairly.
  • Explicit methodology — weights published, no black box.
  • Daily refresh — the page is regenerated from scratch each night.
⚡ Rankings are a research aid — always do your own due diligence.

Frequently Asked Questions

How are these Arbitrage funds ranked?

Funds are ranked using a composite of 5-year (45%), 3-year (35%) and 1-year (20%) percentile performance within their category. Rankings are a research aid and not investment advice.

How often is this page updated?

Underlying fund data is refreshed nightly. The page is regenerated automatically after each refresh, and the "Last updated" date at the top of this page reflects the most recent generation. You are always seeing the latest snapshot.

Is this investment advice?

No. Rankings on this page are a research aid only. They do not constitute investment advice or a recommendation to buy or sell any scheme. Read the Scheme Information Document and consult a SEBI-registered adviser before investing.

Why isn't every Arbitrage fund listed here?

This page shows the top 10 funds in the category based on the ranking methodology above. The full universe of Arbitrage schemes is larger — this snapshot is designed to surface the strongest candidates for further research, not to be an exhaustive directory.

What's the difference between Best, Top, and Returns pages?

Best ranks by long-term composite performance (weighted toward 3Y and 5Y). Top ranks by recent momentum (weighted toward 3M, 6M and 9M). Returns shows raw numbers across all six periods with no composite ranking, so you can compare funds on whatever metric you care about.

How do I use these rankings in a client conversation?

Treat them as a starting point. Use the Returns page to show the raw numbers, the Best page to explain why a longer horizon matters, and the Top page when discussing recent momentum. Rankings are most useful when paired with a conversation about the client's time horizon, existing portfolio, and risk profile.

Disclaimer: Mutual Fund investments are subject to market risks. Read all scheme-related documents carefully before investing. Past performance is not indicative of future results. The rankings on this page are based on historical return data and are provided for research purposes only. They do not constitute investment advice or a recommendation to buy or sell any scheme.