Kotak Arbitrage Fund vs Mirae Asset Arbitrage Fund
Kotak Arbitrage Fund (Direct) and Mirae Asset 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 27 Aug 2026
Growth of ₹100 (rebased over the selected window)
Common period 22 Jun 2020 – 27 Aug 2026, limited by Mirae Asset Arbitrage Fund. Every series is rebased to ₹100 at the start of this window.
View as table
| Date | Kotak Arbitrage Fund | Mirae Asset Arbitrage Fund |
|---|---|---|
| 22 Jun 2020 | ₹100.00 | ₹100.00 |
| 27 Dec 2020 | ₹101.80 | ₹101.88 |
| 03 Jul 2021 | ₹104.53 | ₹104.38 |
| 07 Jan 2022 | ₹106.72 | ₹106.43 |
| 14 Jul 2022 | ₹109.19 | ₹108.67 |
| 18 Jan 2023 | ₹112.50 | ₹111.85 |
| 26 Jul 2023 | ₹117.09 | ₹116.27 |
| 30 Jan 2024 | ₹122.17 | ₹121.31 |
| 05 Aug 2024 | ₹127.52 | ₹126.54 |
| 09 Feb 2025 | ₹132.47 | ₹131.41 |
| 16 Aug 2025 | ₹137.39 | ₹136.08 |
| 20 Feb 2026 | ₹141.98 | ₹140.77 |
| 27 Aug 2026 | ₹146.67 | ₹145.28 |
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 →
Kotak Arbitrage Fund and Mirae Asset Arbitrage Fund duplicate 57% of their equity book — holding both adds concentration, not diversification.
Shared holdings — Kotak Arbitrage Fund vs Mirae Asset Arbitrage Fund
| Stock | Kotak Arbitrage Fund | Mirae Asset Arbitrage Fund | |
|---|---|---|---|
| ICICI Bank Ltd | 5.14% | 2.12% | 2.12% |
| Maruti Suzuki India Ltd | 1.54% | 1.27% | 1.27% |
| Axis Bank Ltd | 2.30% | 1.10% | 1.10% |
| Ashok Leyland Ltd | 1.07% | 1.20% | 1.07% |
| Interglobe Aviation Ltd | 0.99% | 1.14% | 0.99% |
| Coal India Ltd | 0.98% | 1.14% | 0.98% |
| One 97 Communications Ltd | 1.24% | 0.97% | 0.97% |
| Reliance Industries Ltd | 3.74% | 0.94% | 0.94% |
| Hindalco Industries Ltd | 1.81% | 0.87% | 0.87% |
| Cummins India Ltd | 1.31% | 0.85% | 0.85% |
| NTPC Ltd | 1.66% | 0.82% | 0.82% |
| Hindustan Unilever Ltd | 1.60% | 0.82% | 0.82% |
| SBI Life Insurance Company Ltd | 0.78% | 0.91% | 0.78% |
| Mahindra & Mahindra Ltd | 1.26% | 0.78% | 0.78% |
| State Bank of India | 0.77% | 0.91% | 0.77% |
139 more stocks in common. 154 shared of 176 / 166 positions. Weights are shown as a share of each fund's equity book.
| Metric | Kotak Mahindra · Direct NAV ₹43.10 Moderately High risk ★★★★☆ | Mirae Asset · Direct NAV ₹14.54 Moderately High risk ★★★☆☆ | Category median Arbitrage Fund · 40 funds |
|---|---|---|---|
| +6.55% | +6.54% | +6.38% | |
| +7.49%Best in row | +7.39% | +7.29% | |
| +6.86%Best in row | +6.69% | +6.66% | |
| +6.47% | — | +6.34% | |
| +7.07%Best in row | +6.23% | +6.59% | |
| +7.28%Best in row | +7.16% | — | |
| +6.73% | +6.79% | +6.54% | |
| +6.50% | +6.46% | +6.25% | |
| +6.63% | — | +6.51% | |
| Risk | |||
| 1.01% | 1.07% | 1.04% | |
| 0.98Best in row | 0.83 | 0.72 | |
| 1.51Best in row | 1.26 | 1.07 | |
| -0.57% | -0.44%Best in row | -0.57% | |
| 2.40%Best in row | 2.69% | 1.46% | |
| ₹70,783Cr | ₹3,657Cr | ₹1,159Cr | |
| Up to 0.25% | 0.25% | — | |
| ₹100 | ₹99 | — | |
| ₹100 | ₹5.00K | — | |
| 402% | 1730% | 903% | |
| Hiten Shah | Jigar Shethia · 6.2y | — | |
| 07 Jan 2013 | 22 Jun 2020 | — | |
| 176 | 166 | — | |
| 19.7% | 11.4% | — | |
| 73.8% | 86.7% | — | |
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 Mirae Asset Arbitrage Fund?
Over the last 3 years, Kotak Arbitrage Fund returned +7.49% CAGR against Mirae Asset Arbitrage Fund's +7.39%, computed from AMFI NAV history. Over 5 years: Kotak Arbitrage Fund +6.86% vs Mirae Asset Arbitrage Fund +6.69% CAGR. Past returns don't guarantee future performance.
Which fund is cheaper — Kotak Arbitrage Fund or Mirae Asset Arbitrage Fund?
Kotak Arbitrage Fund has the lower expense ratio: Kotak Arbitrage Fund charges 2.40% a year against Mirae Asset Arbitrage Fund's 2.69%. 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 Mirae Asset Arbitrage Fund?
Mirae Asset Arbitrage Fund has shown higher volatility (+1.07% annualized vs Kotak Arbitrage Fund's +1.01%), measured as the annualized standard deviation of daily returns over the trailing 3 years. Worst 3-year drawdown: Kotak Arbitrage Fund -0.46% vs Mirae Asset Arbitrage Fund -0.44%.
Which fund manages more money — Kotak Arbitrage Fund or Mirae Asset Arbitrage Fund?
Kotak Arbitrage Fund is the larger fund: Kotak Arbitrage Fund manages ₹70,783Cr against Mirae Asset Arbitrage Fund's ₹3,657Cr 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 Mirae Asset 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.