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NAVs as of 20 Aug 2026
Growth of ₹100 (rebased over the selected window)
Common period 25 Aug 2020 – 20 Aug 2026, limited by Mahindra Manulife Arbitrage Fund. Every series is rebased to ₹100 at the start of this window.
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| Date | Mahindra Manulife Arbitrage Fund | Tata Arbitrage Fund | Tata Arbitrage Fund | Invesco India Arbitrage Fund |
|---|---|---|---|---|
| 25 Aug 2020 | ₹100.00 | ₹100.00 | ₹100.00 | ₹100.00 |
| 23 Feb 2021 | ₹101.56 | ₹102.27 | ₹102.27 | ₹101.17 |
| 24 Aug 2021 | ₹103.78 | ₹104.98 | ₹104.98 | ₹103.31 |
| 23 Feb 2022 | ₹105.51 | ₹107.08 | ₹107.08 | ₹105.59 |
| 24 Aug 2022 | ₹107.24 | ₹109.12 | ₹109.12 | ₹108.06 |
| 22 Feb 2023 | ₹110.29 | ₹113.07 | ₹113.07 | ₹112.05 |
| 23 Aug 2023 | ₹113.82 | ₹117.44 | ₹117.44 | ₹116.48 |
| 21 Feb 2024 | ₹117.85 | ₹122.35 | ₹122.35 | ₹121.37 |
| 21 Aug 2024 | ₹121.82 | ₹127.25 | ₹127.25 | ₹126.19 |
| 20 Feb 2025 | ₹125.70 | ₹132.09 | ₹132.09 | ₹131.05 |
| 21 Aug 2025 | ₹129.44 | ₹136.98 | ₹136.98 | ₹135.73 |
| 19 Feb 2026 | ₹133.54 | ₹141.59 | ₹141.59 | ₹140.32 |
| 20 Aug 2026 | ₹131.31 | ₹146.11 | ₹146.11 | ₹144.77 |
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 →
| Overlap | Mahindra Manulife Arbitrage Fund | Tata Arbitrage Fund | Tata Arbitrage Fund | Invesco India Arbitrage Fund |
|---|---|---|---|---|
| Mahindra Manulife Arbitrage Fund | ||||
| Tata Arbitrage Fund | ||||
| Tata Arbitrage Fund | ||||
| Invesco India Arbitrage Fund |
Tata Arbitrage Fund and Tata Arbitrage Fund duplicate 100% of their equity book — holding both adds concentration, not diversification.
Shared holdings — Tata Arbitrage Fund vs Tata Arbitrage Fund
| Stock | Tata Arbitrage Fund | Tata Arbitrage Fund | |
|---|---|---|---|
| HDFC Bank Ltd | 12.05% | 12.05% | 12.05% |
| Reliance Industries Ltd | 3.80% | 3.80% | 3.80% |
| ICICI Bank Ltd | 2.65% | 2.65% | 2.65% |
| Vodafone Idea Ltd | 2.37% | 2.37% | 2.37% |
| JSW Steel Ltd | 2.08% | 2.08% | 2.08% |
| TVS Motor Company Ltd | 1.98% | 1.98% | 1.98% |
| Jio Financial Services Limited | 1.95% | 1.95% | 1.95% |
| Shriram Transport Finance Company Ltd | 1.91% | 1.91% | 1.91% |
| Bajaj Finance Ltd | 1.86% | 1.86% | 1.86% |
| Zomato Ltd | 1.76% | 1.76% | 1.76% |
| HDFC Life Insurance Co Ltd | 1.74% | 1.74% | 1.74% |
| Adani Green Energy Ltd | 1.68% | 1.68% | 1.68% |
| Bharat Electronics Ltd | 1.67% | 1.67% | 1.67% |
| Kotak Mahindra Bank Ltd | 1.62% | 1.62% | 1.62% |
| State Bank of India | 1.61% | 1.61% | 1.61% |
139 more stocks in common. 154 shared of 154 / 154 positions. Weights are shown as a share of each fund's equity book.
| Metric | Mahindra Manulife · Direct · IDCW NAV ₹13.13 Moderately High risk ★★★☆☆ | Tata · Direct · IDCW NAV ₹15.63 Moderately High risk ★★★★★ | Tata · Direct · IDCW NAV ₹15.63 Moderately High risk ★★★★★ | Invesco · Direct · IDCW NAV ₹20.17 Moderately High risk ★★★★☆ | Category median Arbitrage Fund · 49 funds |
|---|---|---|---|---|---|
| +1.53% | +6.71% | +6.71% | +6.70% | +6.01% | |
| +4.89% | +7.56% | +7.56% | +7.52% | +6.80% | |
| +4.80% | +6.82% | +6.82% | +6.97%Best in row | +6.30% | |
| — | — | — | +4.28% | +3.12% | |
| +4.66% | +5.87% | +6.00%Best in row | +3.78% | +3.94% | |
| +4.44% | +7.31% | +7.31% | +7.35% | — | |
| +5.83% | +6.35%Best in row | +6.12% | +3.41% | +3.52% | |
| +5.50% | +6.29%Best in row | +6.11% | +3.15% | +3.66% | |
| — | — | — | +3.30% | +2.91% | |
| Risk | |||||
| 2.77% | 0.93% | 0.93% | 0.97% | 1.08% | |
| -0.58 | 1.14 | 1.14 | 1.06 | 0.29 | |
| -0.61 | 1.79 | 1.79 | 1.64 | 0.42 | |
| -4.38% | -1.35% | -1.40% | -3.78% | -3.35% | |
| 1.16%Best in row | 1.70% | 1.70% | 2.31% | 1.46% | |
| ₹116.74Cr | ₹22,684Cr | ₹22,684Cr | ₹27,818Cr | ₹1,250Cr | |
| Up to 0.25% | 0.25% | 0.25% | 0.50% | — | |
| ₹500 | ₹150 | ₹150 | ₹500 | — | |
| ₹1.00K | ₹5.00K | ₹5.00K | ₹1.00K | — | |
| 1030% | 1312% | 1312% | 455% | 907% | |
| Rahul Pal · 6y | Sailesh Jain · 7.7y | Sailesh Jain · 7.7y | Deepak Gupta · 4.8y | — | |
| 25 Aug 2020 | 14 Jun 2019 | 19 Dec 2018 | 02 Jan 2013 | — | |
| 29 | 154 | 154 | 175 | — | |
| 45.7% | 21.9% | 21.9% | 22.3% | — | |
| 78.7% | 68.8% | 68.8% | 77.4% | — | |
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.