Kotak Arbitrage Fund vs Invesco India Arbitrage Fund
Kotak Arbitrage Fund (Direct) and Invesco India Arbitrage Fund (Direct) head to head: growth of ₹100, returns across every window, risk, cost, and portfolio overlap — every figure computed from AMFI NAV history, nothing supplied by a fund house. Both are Arbitrage Fund schemes — see the best arbitrage mutual funds for the full ranking.
Head to head
NAVs as of 05 Oct 2026
Growth of ₹100 (rebased over the selected window)
Common period 07 Jan 2013 – 05 Oct 2026, limited by Kotak Arbitrage Fund. Every series is rebased to ₹100 at the start of this window.
View as table
| Date | Kotak Arbitrage Fund | Invesco India Arbitrage Fund |
|---|---|---|
| 07 Jan 2013 | ₹100.00 | ₹100.00 |
| 01 Mar 2014 | ₹111.28 | ₹110.20 |
| 24 Apr 2015 | ₹123.48 | ₹121.71 |
| 15 Jun 2016 | ₹133.59 | ₹131.55 |
| 07 Aug 2017 | ₹144.01 | ₹141.54 |
| 29 Sep 2018 | ₹155.36 | ₹152.60 |
| 22 Nov 2019 | ₹167.61 | ₹164.29 |
| 13 Jan 2021 | ₹176.49 | ₹173.12 |
| 07 Mar 2022 | ₹186.30 | ₹182.26 |
| 29 Apr 2023 | ₹198.91 | ₹195.78 |
| 21 Jun 2024 | ₹218.79 | ₹215.05 |
| 13 Aug 2025 | ₹237.52 | ₹233.53 |
| 05 Oct 2026 | ₹255.80 | ₹251.82 |
Portfolio overlap (same stocks held through more than one fund)
Some overlap is structural: SEBI defines large cap as the top 100 stocks by market capitalisation, so two large-cap funds are fishing the same pond by regulation. The bands below are measured per sleeve pairing rather than against one blanket threshold. How this is measured →
- 13 stocks only in Kotak Arbitrage Fund
- 161 stocks in both — 68.5% of each portfolio by weight
- 8 stocks only in Invesco India Arbitrage Fund
The more the circles overlap, the more the funds hold the same stocks.
Kotak Arbitrage Fund and Invesco India Arbitrage Fund duplicate 69% of their equity book — holding both adds concentration, not diversification.
Shared holdings — Kotak Arbitrage Fund vs Invesco India Arbitrage Fund
| Stock | Kotak Arbitrage Fund | Invesco India Arbitrage Fund | |
|---|---|---|---|
| AXIS BANK LTD. | 4.73% | 4.46% | 4.46% |
| HDFC BANK LTD. | 3.84% | 7.74% | 3.84% |
| ICICI BANK LTD. | 3.33% | 4.41% | 3.33% |
| RELIANCE INDUSTRIES LTD. | 2.68% | 3.30% | 2.68% |
| Vodafone Idea Ltd | 2.24% | 3.11% | 2.24% |
| BHARTI AIRTEL LTD. | 2.17% | 4.41% | 2.17% |
| ADANI POWER LTD | 1.74% | 1.66% | 1.66% |
| STATE BANK OF INDIA. | 2.03% | 1.59% | 1.59% |
| Coal India Limited | 1.90% | 1.56% | 1.56% |
| Tata Steel Ltd. | 1.48% | 1.42% | 1.42% |
| INDIAN OIL CORPORATION LTD. | 1.10% | 1.11% | 1.10% |
| Indus Towers Ltd. | 1.08% | 1.33% | 1.08% |
| ITC Ltd. | 1.39% | 1.03% | 1.03% |
| Adani Ports and Special Economic Zone Limited | 1.20% | 1.03% | 1.03% |
| Power Finance Corporation Ltd. | 1.01% | 0.97% | 0.97% |
146 more stocks in common. 161 shared of 174 / 169 positions. Weights are shown as a share of each fund's equity book.
| Metric | Kotak Mahindra · Direct NAV ₹43.42 Moderately High risk ★★★☆☆ | Invesco · Direct NAV ₹37.47 Moderately High risk ★★★★★ | Category median Arbitrage Fund · 40 funds |
|---|---|---|---|
| +6.79% | +6.92%Best in row | +6.69% | |
| +7.46% | +7.47% | +7.26% | |
| +6.97% | +7.10%Best in row | +6.78% | |
| +6.46% | +6.47% | +6.34% | |
| +7.07% | +6.95% | +6.62% | |
| +7.28% | +7.35% | — | |
| +6.74% | +6.69% | +6.55% | |
| +6.50% | +6.46% | +6.26% | |
| +6.63% | +6.58% | +6.52% | |
| Risk | |||
| 1.08% | 1.07% | 1.13% | |
| 0.89 | 0.90 | 0.68 | |
| 1.34 | 1.36 | 1.03 | |
| -0.57% | -0.52% | -0.57% | |
| 2.32% | 2.20%Best in row | 1.44% | |
| ₹70,783Cr | ₹27,818Cr | ₹1,159Cr | |
| Up to 0.25% | Up to 0.50% | — | |
| ₹100 | ₹500 | — | |
| ₹100 | ₹1.00K | — | |
| 1701% | 1658% | 1007% | |
| Hiten Shah | Deepak Gupta · 4.9y | — | |
| 07 Jan 2013 | 02 Jan 2013 | — | |
| 174 | 169 | — | |
| 20.1% | 28.4% | — | |
| 0.7% | — | — | |
6 rows carry the same value for every fund — show
- Benchmark
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- Alpha
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- Beta
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- Upside capture
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- Downside capture
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- Lock-in
- None
Best marks the strongest value in a row, and only where the gap is bigger than noise — a near-tie is left unmarked rather than dressed up as a result. SIP XIRR is a ₹10,000/month instalment over 5 years of real NAV history. Nothing here is supplied by a fund house. For research only — not investment advice.
Frequently asked questions
Which fund has delivered higher returns — Kotak Arbitrage Fund or Invesco India Arbitrage Fund?
Over the last 3 years, Invesco India Arbitrage Fund returned +7.47% CAGR against Kotak Arbitrage Fund's +7.46%, computed from AMFI NAV history. Over 5 years: Kotak Arbitrage Fund +6.97% vs Invesco India Arbitrage Fund +7.10% CAGR. Past returns don't guarantee future performance.
Which fund is cheaper — Kotak Arbitrage Fund or Invesco India Arbitrage Fund?
Invesco India Arbitrage Fund has the lower expense ratio: Kotak Arbitrage Fund charges 2.32% a year against Invesco India Arbitrage Fund's 2.20%. The expense ratio is deducted from the NAV daily, so a lower one compounds in the investor's favour.
Which fund is riskier — Kotak Arbitrage Fund or Invesco India Arbitrage Fund?
Kotak Arbitrage Fund has shown higher volatility (+1.08% annualized vs Invesco India Arbitrage Fund's +1.07%), measured as the annualized standard deviation of daily returns over the trailing 3 years. Worst 3-year drawdown: Kotak Arbitrage Fund -0.46% vs Invesco India Arbitrage Fund -0.40%.
Which fund manages more money — Kotak Arbitrage Fund or Invesco India Arbitrage Fund?
Kotak Arbitrage Fund is the larger fund: Kotak Arbitrage Fund manages ₹70,783Cr against Invesco India Arbitrage Fund's ₹27,818Cr in assets. Size cuts both ways — scale lowers costs, but a very large fund can find it harder to move in and out of positions.
Are Kotak Arbitrage Fund and Invesco India Arbitrage Fund in the same category?
Yes — both are Arbitrage Fund schemes, so their returns, risk and cost are directly comparable against the same peer set.
Figures update daily from AMFI NAV history; ratings and ranks are WealthTicker’s own — see the methodology. This is data, not investment advice.