HybridArbitrage FundRegularGrowthModerately High

Bandhan Arbitrage Fund

Q: What is the NAV of Bandhan Arbitrage Fund?

As of 05 Oct 2026, the NAV of Bandhan Arbitrage Fund is ₹34.78 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Bandhan Arbitrage Fund delivered?

Bandhan Arbitrage Fund has returned +5.81% over 1 year, +6.53% per year over 3 years, +6.02% per year over 5 years and +6.32% 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 Bandhan Arbitrage Fund?

Bandhan Arbitrage Fund charges an expense ratio of 2.35% 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 Bandhan Arbitrage Fund?

Bandhan Arbitrage Fund's largest holdings are Bandhan Money Market Fund -Direct Plan-Growth (13.4%), Bandhan Ultra Short to Short Term Fund-DR GR (8.8%), HDFC Bank Limited (4.8%), Bandhan Ultra Short Term Fund - DR Plan GR (3.6%) and Vodafone Idea Limited (2.9%). Holdings are disclosed monthly and change over time.

Q: How risky is Bandhan Arbitrage Fund?

Bandhan Arbitrage Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -0.8%. 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 0.03 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Bandhan Arbitrage Fund's 0.03 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Bandhan Arbitrage Fund?

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

Q: Who manages Bandhan Arbitrage Fund?

Bandhan Arbitrage Fund is managed by Brijesh Shah, Harshal Joshi, Abhishek Jain, Gaurav Satra, Ritika Behera and Kapil Kankonkar at Bandhan.

Q: How is Bandhan Arbitrage Fund taxed?

Bandhan 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.

Bandhan Mutual Fund · Best Arbitrage Mutual Funds

NAV

₹34.78

+0.14% 1D

as of 05 Oct 2026

This is the Regular plan of Bandhan 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.

Compare SIP calculator

NAV history

+5.79%absolute

52-week rangePrev NAV ₹34.73

Latest ₹34.78

Low ₹32.87100th percentile of its 52-week rangeHigh ₹34.78

Scorecard

★★★☆☆3/5 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.

PerformanceAverage

3Y CAGR +6.53% · ranks 14 of 26 Arbitrage Funds

RiskLow

Volatility 1.0% vs 1.3% category avg

CostAverage

2.4% expense vs 2.2% category avg

ConsistencyHigh

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

Less volatile than its Arbitrage Fund peers (1.0% vs 1.3%)
Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.35%

Category 2.19%▲0.16%

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

14.85

Category —

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

0.03

Category -0.01▲0.04

Scheme Info

Definitions

Plan

Regular · Growth

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

None

W.e.f 01-Jul-2016 Entry Load: Nil - Exit Load: 0.25% if redeemed / switched out within 1 month from the date of allotment, for all investments (including SIP/STP-in registered) from the effective date. Please refer the scheme information document / addend

0.25%

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 Index

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.

02 Jun 2008

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.65%

Absolute return over the last 3 months (not annualized)

+1.37%

Absolute return over the last 6 months (not annualized)

+2.83%

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

+4.32%

Annualized returns (≥1Y — CAGR)

Definitions

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

+5.81%

3-year annualized return (CAGR)

+6.53%

5-year annualized return (CAGR)

+6.02%

10-year annualized return (CAGR)

+5.61%

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.

+6.32%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.05%

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

0.03

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

0.05

Largest peak-to-trough decline over full history

-0.77%

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	+0.65%	+0.66%	-0.01%
3M abs	+1.37%	+1.37%	0.00%
6M abs	+2.83%	+2.81%	+0.02%
1Y CAGR	+5.81%	+5.92%	-0.11%
3Y CAGR	+6.53%	+6.48%	+0.05%
5Y CAGR	+6.02%	+5.96%	+0.06%

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

1Y return

+5.81%

Beats 24.2% · rank #26

3Y return

+6.53%

Beats 48% · rank #14

5Y return

+6.02%

Beats 45% · rank #12

Sharpe

0.03

Beats 48% · rank #14

Sortino

0.05

Beats 48% · rank #14

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

₹7.01L

Absolute

+16.81%

XIRR

+6.35%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Bandhan 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	+4.32%
2025	+6.24%
2024	+7.53%
2023	+7.13%
2022	+4.11%
2021	+3.55%
2020	+3.82%
2019	+6.15%
2018	+6.26%
2017	+5.54%

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

4,521

Expense ratio

2.35%

AUM

₹8,114Cr

Exit load

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

14.8

P/B ratio

3.3

Avg market cap

₹3,50,854Cr

P/E & P/B are portfolio-weighted harmonic means across 145 of 154 equity holdings (70% of the portfolio); loss-making companies are excluded.

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


Bandhan Arbitrage FundThis fund Bandhan · Regular · Growth	★★★☆☆	+5.81%	+6.53%	+6.02%	—	2.35%	₹8,114Cr
Kotak Arbitrage Fund Kotak Mahindra · Regular · Growth	★★★★☆	+6.14%	+6.82%	+6.34%	—	2.91%	₹70,783Cr
UTI - Arbitrage Fund UTI · Regular · Growth	★★★★★	+6.12%	+6.78%	+6.17%	—	1.81%	₹10,939Cr
Invesco India Arbitrage Fund Invesco · Regular · Growth	★★★★☆	+6.22%	+6.75%	+6.39%	—	2.87%	₹27,818Cr
SBI Arbitrage Fund SBI · Regular · Growth	★★★★☆	+6.07%	+6.72%	+6.30%	—	2.00%	—
HDFC Arbitrage Fund HDFC · Regular · Growth	★★★☆☆	+6.11%	+6.72%	+6.15%	—	2.04%	₹24,544Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap71.4%
Mid cap24.4%
Small cap4.2%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity72.75%
Other25.80%
Cash & Equivalents1.32%
Debt0.13%

Cash & cash-like: 13.36% — the 1.32% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Bandhan Ultra Short to Short Term Fund-DR GR

8.85%

HDFC Bank Limited

4.76%

Bandhan Ultra Short Term Fund - DR Plan GR

3.59%

Vodafone Idea Limited

2.94%

Axis Bank Limited

2.41%

ICICI Bank Limited

2.30%

Reliance Industries Limited

2.11%

Kotak Mahindra Bank Limited

1.72%

State Bank of India

1.66%

Bharti Airtel Limited

1.63%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Tata Arbitrage Fund Tata · Arbitrage Fund	72.4% of 66% equity	★★★★☆	1.57%	+7.47%
Invesco India Arbitrage Fund Invesco · Arbitrage Fund	72.3% of 78% equity	★★★★★	2.20%	+7.47%
DSP Arbitrage fund DSP · Arbitrage Fund	71.8% of 69% equity	★★★☆☆	1.17%	+7.21%
SBI Arbitrage Fund SBI · Arbitrage Fund	71.8% of 77% equity	★★★☆☆	1.48%	+7.27%
Axis Arbitrage Fund Axis · Arbitrage Fund	71.7% of 68% equity	★★★☆☆	1.40%	+7.35%
Edelweiss Arbitrage Fund Edelweiss · Arbitrage Fund	71.1% of 70% equity	★★★★☆	1.58%	+7.40%
Nippon India Arbitrage Fund Nippon India · Arbitrage Fund	71.0% of 69% equity	★★★★☆	1.34%	+7.31%
ICICI Prudential Arbitrage Fund ICICI Prudential · Arbitrage Fund	70.2% of 73% equity	★★★☆☆	1.63%	+7.31%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 0.03% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

PB Fintech LimitedShort-term · Stage I0.03%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Fund size over time

Quarterly average AUM · AMFI

₹8,114Cr

April - June 2026

-6%

since January - March 2026

−₹617.47Cr

est. net flow, last quarter

Down +6% from its peak of ₹8,615Cr 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

Bandhan Mutual Fund is the former IDFC Mutual Fund, bought in 2022 by a consortium of Bandhan Financial Holdings, ChrysCapital and GIC and renamed the following year. It carries a long-established debt franchise alongside its equity and index schemes.

Launched

19 Dec 1999

Total AUM

₹2,04,046Cr+4.5% QoQ

Avg AUM · April - June 2026

Website

bandhanmutual.com

Fund Managers

BSBrijesh ShahStart date not disclosed

Role

Senior Vice President – Fixed Income

Education

Post Graduate Diploma in Finance

Experience

Mr Shah is associated with Bandhan AMC since August 2015 as part of the Fixed Income Team and will now be handling investments and fixed income Bandhan US Treasury Bond 0-1 year – fund management. Prior experience: · IDBI Asset Management Ltd. – Dealing in Fixed income (Jan.2013 to Aug.2015) · India Bulls Asset Management Ltd. – Dealing in Fixed income (Jun.2011 to Dec.2012) · Mata Securities - Relationship Manager, Wholesale Debt Market (Jun.2010 to Jun.2011) · Twenty First Century - Relationship Manager, Wholesale Debt Market (Jan.2009 to May2010) (Total experience – 15 years)

Funds managed (42)

All schemes Brijesh Shah runs →

HJHarshal JoshiStart date not disclosed

Role

Senior Vice President - Fund Management

Education

PGDBM Senior Vice President – Fixed Income

Experience

He has been associated with Bandhan Multi Cap Fund - Debt portion, Bandhan AMC since December 2008 with Fixed Income Investment team. Prior to the same he was associated with ICAP India Pvt. Ltd. (2006 to 2007). Managing the Fund since September 15, 2015. (Total Experience – years)

Funds managed (25)

All schemes Harshal Joshi runs →

AJAbhishek JainStart date not disclosed

Role

Associate Vice President Chartered - Equity

Education

B.A. and Accountant

Experience

Mr. Abhishek Jain joined the Bandhan Nifty 50 Index Fund, equity fund management team of Bandhan AMC Limited on March 05, 2025. He has a total experience of Volatility 30 13 years. He was earlier associated Fund, Bandhan Nifty Smallcap with Groww Asset Management Co Limited from January 01, 2024 to 200 March 03, 2025 wherein he was fund manager for passive Index Fund, Bandhan Nifty 500 schemes and dealer for equity Momentum schemes. Prior to this, he was Bandhan Nifty associated with Edelweiss Tokio Life Insurance Co. Limited as Equity Dealer for Bandhan quant based active schemes from September 01, 2022 to December 27, 2023. He was associated with Acko General Fund and Bandhan Nifty Total Insurance Co. Limited Deputy General Manager – Investment from November 08, 2021 to August 30, 2022, where in he was responsible for dealing activity in equity segment. Prior to this, in Shriram Asset Management Co Limited as Manager – Equity from January 05, 2018 to November 06, 2021 he was responsible for equity research of certain sector like IT, Telcom and Life insurance sector etc. and in Edelweiss Tokio Life Insurance Co Limited Equity Dealer from January 05, 2012 to January 03, 2018 he was a dealer for quant based equity schemes

Funds managed (21)

All schemes Abhishek Jain runs →

GSGaurav SatraStart date not disclosed

Role

Deputy Manager – Accountant, Fund Management – Equity

Education

Chartered B.Com

Experience

Mr. Gaurav Satra joined the Bandhan US Equity Fund of Equity Fund Management Fund team of Bandhan AMC in having provision for investment June 2022 and was in overseas securities in equity co-managed designated as the Equity segment. Dealer.Prior to the same, he was associated with various Consultancy Firms as a CA from December 2016 to May 2022. (Total experience – 8.5 years)

Funds managed (21)

All schemes Gaurav Satra runs →

RBRitika BeheraStart date not disclosed

Role

Vice President MBA -Equities

Education

(Finance), Bcom

Experience

Ms. Ritika Behera has joined Bandhan AMC Limited as Vice President – Equity Equities on August 10, 2023 in Equity Investments team. In her role she will be US Equity responsible for research and analysis. Prior to Bandhan AMC Limited, she was associated with Ocean Dial Asset Equity portion management from April 2021 to July 2023 as Analyst. Earlier to this, she was and all other schemes associated with Elara Securities Pvt having Limited from January 2017 to March 2021 and Batlivala & Karani Securities Pvt Ltd from August 2013 to January 2017. (Total experience – 14 years)

Funds managed (21)

All schemes Ritika Behera runs →

KKKapil KankonkarStart date not disclosed

Role

Vice President Bachelor of - Equity

Education

Engineering, Master of Management Studies

Experience

Mr. Kapil Kankonkar joined the equity fund management team of Bandhan AMC Limited on June 09, 2025. In his current role, he will Bandhan Multi Asset Allocation be responsible for equity investment function for the schemes of Bandhan Mutual Fund. He has a total work experience of 19 years. Prior to this, he was associated with Kotak Securities Limited from February 20, 2023 to June 07, 2025 and with JM Financial Services Limited from June 06, 2007 to February 18, 2023, where he was responsible for fund management of Arbitrage Funds.

Funds managed (2)

All schemes Kapil Kankonkar 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

Brijesh Shah Harshal Joshi Abhishek Jain Gaurav Satra Ritika Behera Kapil Kankonkar

Top holdings

HDFC Bank Limited Vodafone Idea Limited Axis Bank Limited ICICI Bank Limited Reliance Industries Limited Kotak Mahindra Bank Limited State Bank of India Bharti Airtel Limited Larsen & Toubro Limited Adani Enterprises Limited Jio Financial Services Limited Canara Bank

Bandhan 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 Bandhan Arbitrage Fund?

As of 05 Oct 2026, the NAV of Bandhan Arbitrage Fund is ₹34.78 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Bandhan Arbitrage Fund delivered?

Bandhan Arbitrage Fund has returned +5.81% over 1 year, +6.53% per year over 3 years, +6.02% per year over 5 years and +6.32% 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 Bandhan Arbitrage Fund?

Bandhan Arbitrage Fund charges an expense ratio of 2.35% 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 Bandhan Arbitrage Fund?

Bandhan Arbitrage Fund's largest holdings are Bandhan Money Market Fund -Direct Plan-Growth (13.4%), Bandhan Ultra Short to Short Term Fund-DR GR (8.8%), HDFC Bank Limited (4.8%), Bandhan Ultra Short Term Fund - DR Plan GR (3.6%) and Vodafone Idea Limited (2.9%). Holdings are disclosed monthly and change over time.

How risky is Bandhan Arbitrage Fund?

Bandhan Arbitrage Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -0.8%. 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 0.03 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Bandhan Arbitrage Fund's 0.03 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Bandhan Arbitrage Fund?

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

Who manages Bandhan Arbitrage Fund?

Bandhan Arbitrage Fund is managed by Brijesh Shah, Harshal Joshi, Abhishek Jain, Gaurav Satra, Ritika Behera and Kapil Kankonkar at Bandhan.

How is Bandhan Arbitrage Fund taxed?

Bandhan 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.