ICICI Prudential Arbitrage Fund
This is the Regular plan of ICICI Prudential Arbitrage Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★★★★5/5 vs 26 of 38 Arbitrage Fund peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Arbitrage Fund (same plan and option). 26 of the 38 Arbitrage Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +6.72% · ranks 6 of 26 Arbitrage Funds
Volatility 1.1% vs 1.3% category avg
2.2% expense vs 2.2% category avg
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Ranks #6 of 34 on 1-year return in its Arbitrage Fund cohort
- Less volatile than its Arbitrage Fund peers (1.1% vs 1.3%)
- Consistent — positive in 100% of rolling 3-year windows
Concerns
No significant concerns identified.
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Arbitrage Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.67% | +0.66% | +0.01% |
| 3M abs | +1.45% | +1.37% | +0.08% |
| 6M abs | +3.00% | +2.81% | +0.19% |
| 1Y CAGR | +6.13% | +5.91% | +0.22% |
| 3Y CAGR | +6.72% | +6.48% | +0.24% |
| 5Y CAGR | +6.18% | +5.95% | +0.23% |
Category average across peers in Arbitrage Fund (up to 38 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 38 peers in Arbitrage Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into ICICI Prudential Arbitrage Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +4.61% | |
| 2025 | +6.45% | |
| 2024 | +7.58% | |
| 2023 | +7.13% | |
| 2022 | +4.19% | |
| 2021 | +3.85% | |
| 2020 | +4.30% | |
| 2019 | +5.93% | |
| 2018 | +6.22% | |
| 2017 | +5.49% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity72.86%
- Other15.21%
- Debt10.17%
- Cash & Equivalents1.74%
Cash & cash-like: 15.21% — the 1.74% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹32,559Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
ICICI Prudential Mutual Fund is a joint venture between ICICI Bank and Prudential plc of the UK, in business since 1993. It is among India's largest houses by assets and runs one of the industry's widest scheme line-ups across equity, debt and hybrid.
Fund Managers
ANArchana NairManaging since 01 Feb 2024
Associate Vice President - MF Equity Dealing
Chartered Accountant and B.Com
7 Ms. Archana Nair joined ICICI Prudential Asset Management Company Limited in March 2018. Past Experience: ~ ICICI Prudential Asset Management Company Limited- Business Intelligence Unit- Analysis – March 2018 to February 2019.
NKNikhil KabraManaging since 01 Jan 2021
Fund Manager – Fixed Income
Over 11 years
Chartered Accountant, B.Com and Chartered Financial Analyst (CFA)
Mr. Nikhil Kabra is associated with ICICI Prudential Asset Management Company Limited since September 2013. Past Experience: ~ Sumedha Fiscal Services Limited from ICICI Prudential Money Market Fund October 2012 to September 2013. ~ Haribhakti & Co. from September 2010 to October 2012
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ASAjaykumar SolankiManaging since 23 Aug 2024
Associate Vice President - MF Equity Dealing
Over 10 years
Chartered Accountant, Chartered Financial Management Analyst (CFA) and B.Com from Mumbai University
Mr. Ajaykumar Solanki was appointed as dealer in the Investments Department of ICICI Prudential Asset Company Limited w.e.f August 7, 2022. He was appointed as a fund manager for certain schemes of the Fund in August 2024. ~ ICICI Prudential Asset Management Company Limited – in MF Operations - December 2, 2014 to August 6, 2023. • • ICICI Prudential Nifty Next
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DDDarshil DedhiaManaging since 13 Sep 2024
Fund Manager – Fixed Income
Chartered Accountant, Chartered Financial Analyst (CFA) and B.Com
He started his career with ICICI Prudential Asset in January 2013 and has experience of over 12 years. Past Experience: ~ ICICI Prudential Asset Management Company Limited – Investments – Mutual Fund Debt – August 9, 2018 till date. ~ ICICI Prudential Asset Management Company Limited – Fund Accounting – February 9, 2016 till August 8, 2018. ~ ICICI Prudential Asset Management Company Limited – Investments – Fixed Income – May 25, 2015 to Feb 8, 2016. ~ ICICI Prudential Asset Management Company Limited – Fund Accounting – January 22, 2013 to May 24, 2015.
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Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
Explore from here
ICICI Prudential in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Arbitrage funds
Arbitrage funds profit from small price gaps between the cash and futures markets rather than from market direction. Returns are usually modest and cash-like, but they are taxed as equity.
Frequently asked questions
What is the NAV of ICICI Prudential Arbitrage Fund?
As of 05 Oct 2026, the NAV of ICICI Prudential Arbitrage Fund is ₹36.92 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has ICICI Prudential Arbitrage Fund delivered?
ICICI Prudential Arbitrage Fund has returned +6.13% over 1 year, +6.72% per year over 3 years, +6.18% per year over 5 years and +6.83% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of ICICI Prudential Arbitrage Fund?
ICICI Prudential Arbitrage Fund charges an expense ratio of 2.16% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of ICICI Prudential Arbitrage Fund?
ICICI Prudential Arbitrage Fund's largest holdings are ICICI Prudential Money Market Fund - Direct Plan - Growth (15.2%), Reliance Industries Ltd. (4.0%), Bharti Airtel Ltd. (3.9%), Axis Bank Ltd. (3.6%) and Vodafone Idea Ltd. (3.5%). Holdings are disclosed monthly and change over time.
How risky is ICICI Prudential Arbitrage Fund?
ICICI Prudential Arbitrage Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.1% and its worst peak-to-trough fall in our sample was -1.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.20 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. ICICI Prudential Arbitrage Fund's 0.20 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of ICICI Prudential Arbitrage Fund?
ICICI Prudential Arbitrage Fund is benchmarked against the Nifty 50 Arbitrage Index. Its alpha and beta on this page are measured against that index.
Who manages ICICI Prudential Arbitrage Fund?
ICICI Prudential Arbitrage Fund is managed by Archana Nair, Nikhil Kabra, Ajaykumar Solanki and Darshil Dedhia at ICICI Prudential.
How is ICICI Prudential Arbitrage Fund taxed?
ICICI Prudential Arbitrage Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.