HybridArbitrage FundRegularIDCWModerately High

Kotak Arbitrage Fund

Q: What is the NAV of Kotak Arbitrage Fund?

As of 01 Oct 2026, the NAV of Kotak Arbitrage Fund is ₹10.72 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Kotak Arbitrage Fund delivered?

Kotak Arbitrage Fund has returned 0.00% over 1 year, -0.03% per year over 3 years, +0.04% per year over 5 years and +0.11% 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.

Q: What is the expense ratio of Kotak Arbitrage Fund?

Kotak Arbitrage Fund charges an expense ratio of 2.91% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Kotak Arbitrage Fund?

Kotak Arbitrage Fund's largest holdings are Kotak Money Market Fund Direct Growth (9.7%), Kotak Savings Fund Direct Growth (4.5%), AXIS BANK LTD. (3.5%), HDFC BANK LTD. (2.9%) and Kotak Low Duration Fund Direct Growth (2.8%). Holdings are disclosed monthly and change over time.

Q: How risky is Kotak Arbitrage Fund?

Kotak Arbitrage Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 2.3% and its worst peak-to-trough fall in our sample was -2.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of -2.90 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Kotak Arbitrage Fund's -2.90 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of Kotak Arbitrage Fund?

Kotak Arbitrage Fund is benchmarked against the Nifty 50 Arbitrage. Its alpha and beta on this page are measured against that index.

Q: Who manages Kotak Arbitrage Fund?

Kotak Arbitrage Fund is managed by Hiten Shah at Kotak Mahindra.

Q: How is Kotak Arbitrage Fund taxed?

Kotak 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.

Kotak Mahindra Mutual Fund · Best Arbitrage Mutual Funds

NAV

₹10.72

+0.03% 1D

as of 01 Oct 2026

This is the Regular plan of Kotak Arbitrage Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed and reinvested in more units, which is why this NAV sits below the growth plan of the same fund.

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This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

NAV history

+0.05%CAGR

52-week rangePrev NAV ₹10.72

Latest ₹10.72

Low ₹10.6745th percentile of its 52-week rangeHigh ₹10.78

Scorecard

Not rated

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. Not rated — too few comparable Hybrid funds (same plan and option) to rank against yet.

Performance—

Not enough Arbitrage Fund peers to rank yet

Risk—

Volatility 2.3% (no category average yet)

Cost—

2.9% expense (no category average yet)

ConsistencyLow

60% 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

No standout strengths identified.

Concerns

Positive in only 60% of rolling 3-year windows

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.91%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

-2.90

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

For redemptions / switch outs (including STP/SWP) within 30 days from the date of allotment of units, irrespective of the amount of the investment - 0.25% For redemptions / switch outs (including STP/SWP) after 30 days from the date of allotment of units, irrespective of the amount of the investment: Nil Units issued on reinvestment of IDCWs shall not be subject to entry and exit load.

Up to 0.25%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

Nifty 50 Arbitrage

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

18 Jun 2007

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-0.42%

Absolute return over the last 3 months (not annualized)

-0.01%

Absolute return over the last 6 months (not annualized)

+0.04%

Absolute return since 1 Jan of this year (not annualized)

-0.07%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

0.00%

3-year annualized return (CAGR)

-0.03%

5-year annualized return (CAGR)

+0.04%

10-year annualized return (CAGR)

-0.03%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+0.11%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

2.25%

Excess return per unit of total volatility (rf = 6.5%)

-2.90

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

-3.04

Largest peak-to-trough decline over full history

-2.92%

Benchmark ratios

Not shown for Arbitrage Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Arbitrage Fund)

Period	Fund	Category avg.	Diff
1M abs	-0.42%	—	—
3M abs	-0.01%	—	—
6M abs	+0.04%	—	—
1Y CAGR	0.00%	—	—
3Y CAGR	-0.03%	—	—
5Y CAGR	+0.04%	—	—

Category average across peers in Arbitrage Fund, 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.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹6.00L

Absolute

-0.04%

XIRR

-0.01%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Kotak 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	-0.07%
2025	-0.07%
2024	+0.05%
2023	-0.17%
2022	+0.43%
2021	+0.13%
2020	-0.04%
2019	0.00%
2018	-0.42%
2017	-0.03%

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.

History points

4,747

Expense ratio

2.91%

Portfolio turnover

1701%

Exit load

Taxation

Taxed as equity

This 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.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

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.

Peer comparison · Arbitrage Fund

Compare all


Kotak Arbitrage FundThis fund Kotak Mahindra · Regular · IDCW	—	0.00%	-0.03%	+0.04%	—	—	—
UTI - Arbitrage Fund UTI · Regular · IDCW	—	+6.04%	+6.76%	+6.14%	—	1.81%	₹10,939Cr
Invesco India Arbitrage Fund Invesco · Regular · IDCW	—	+6.17%	+6.75%	+6.37%	—	2.87%	₹27,818Cr
SBI Arbitrage Fund SBI · Regular · IDCW	—	+6.00%	+6.70%	+6.33%	—	2.00%	—
Edelweiss Arbitrage Fund Edelweiss · Regular · IDCW	—	+5.96%	+6.66%	+6.17%	—	2.25%	₹14,863Cr
Tata Arbitrage Fund Tata · Regular · Monthly IDCW	—	+5.96%	+6.64%	+6.02%	—	2.25%	₹22,684Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity74.26%
Other18.17%
Debt6.92%
Cash & Equivalents0.65%

Cash & cash-like: 9.68% — the 0.65% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

AMC Profile

Kotak Mahindra Mutual Fund is run by Kotak Mahindra Asset Management, part of the Kotak Mahindra Bank group, and has been in the business since 1998. It was the first Indian fund house to launch a dedicated gilt scheme, and today runs one of the country's larger equity and debt line-ups.

Launched

04 Aug 1994

Total AUM

₹5,90,460Cr+1.6% QoQ

Avg AUM · April - June 2026

Website

kotakmf.com

Fund Managers

HSHiten ShahStart date not disclosed

Role

Equity Fund Manager and Dealer

Education

Master of Management studies from Mumbai University & BCOM

Experience

Mr. Hiten Shah, is a MMS in Finance with over 16 years of work experience. Prior to joining Kotak Mahindra Mutual fund, he was associated with Edelweiss Asset Management for more than 8 years as a Co-Fund manager and Chief dealer in equities segment. Mr. Hiten Shah was also associated with Edelweiss securities Ltd. as low risk arbitrage trader for more than

Funds managed (5)

All schemes Hiten Shah runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. 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

Fund managers

Hiten Shah

Kotak Mahindra 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 Kotak Arbitrage Fund?

As of 01 Oct 2026, the NAV of Kotak Arbitrage Fund is ₹10.72 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Kotak Arbitrage Fund delivered?

Kotak Arbitrage Fund has returned 0.00% over 1 year, -0.03% per year over 3 years, +0.04% per year over 5 years and +0.11% 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 Kotak Arbitrage Fund?

Kotak Arbitrage Fund charges an expense ratio of 2.91% 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 Kotak Arbitrage Fund?

Kotak Arbitrage Fund's largest holdings are Kotak Money Market Fund Direct Growth (9.7%), Kotak Savings Fund Direct Growth (4.5%), AXIS BANK LTD. (3.5%), HDFC BANK LTD. (2.9%) and Kotak Low Duration Fund Direct Growth (2.8%). Holdings are disclosed monthly and change over time.

How risky is Kotak Arbitrage Fund?

Kotak Arbitrage Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 2.3% and its worst peak-to-trough fall in our sample was -2.9%. 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 -2.90 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Kotak Arbitrage Fund's -2.90 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of Kotak Arbitrage Fund?

Kotak Arbitrage Fund is benchmarked against the Nifty 50 Arbitrage. Its alpha and beta on this page are measured against that index.

Who manages Kotak Arbitrage Fund?

Kotak Arbitrage Fund is managed by Hiten Shah at Kotak Mahindra.

How is Kotak Arbitrage Fund taxed?

Kotak 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.