SBI Arbitrage Fund
This is the Direct plan of SBI Arbitrage Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★★☆☆3/5 vs 26 of 39 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 39 Arbitrage Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +7.27% · ranks 13 of 26 Arbitrage Funds
Volatility 1.1% vs 1.3% category avg
1.5% expense vs 1.5% 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
- 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 | +0.73% | +0.72% | +0.01% |
| 3M abs | +1.55% | +1.57% | -0.02% |
| 6M abs | +3.17% | +3.18% | -0.01% |
| 1Y CAGR | +6.61% | +6.65% | -0.04% |
| 3Y CAGR | +7.27% | +7.20% | +0.07% |
| 5Y CAGR | +6.83% | +6.65% | +0.18% |
Category average across peers in Arbitrage Fund (up to 39 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 39 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 SBI 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 | +4.96% | |
| 2025 | +7.05% | |
| 2024 | +8.11% | |
| 2023 | +7.98% | |
| 2022 | +5.09% | |
| 2021 | +4.43% | |
| 2020 | +3.98% | |
| 2019 | +6.53% | |
| 2018 | +6.93% | |
| 2017 | +5.78% |
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- Equity77.19%
- Other16.21%
- Debt3.97%
- Cash & Equivalents2.63%
Cash & cash-like: 15.91% — the 2.63% 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
SBI Mutual Fund is a joint venture between the State Bank of India and Amundi of France, and was set up in 1987 as the first fund house in India outside UTI. It is the largest by assets, helped by managing a share of the EPFO's ETF investments.
Fund Managers
ABArdhendu BhattacharyaManaging since 27 Dec 2024
Fixed Income Dealer Fund Manager
PGDM-Goa Institute of Management
Mr. Ardhendu Bhattacharya (Fixed Income Dealer) joined SBIFML in April 2019. He has over 12 years of experience in finance sector. Prior to joining SBIFML, he was previously associated with following entities. ICICI Bank Limited (June 2014 – April 2019) - Primarily involved in trading in money markets and short term corporate bonds Citibank N.A. (April 2010 – June 2013) - Principally handled currency and trade sales Currently he is managing debt portion of SBI Retirement Benefit Fund - Aggressive Plan, SBI Retirement Benefit Fund - Aggressive Hybrid Plan, SBI Retirement Benefit Fund - Conservative Hybrid Plan and SBI Retirement Benefit Fund - Conservative Plan, SBI Floating Rate Debt Fund and Co-Fund Manager of SBI Corporate Bond Fund, SBI Banking & PSU Fund, SBI Arbitrage Opportunities Fund, SBI Long Duration Fund, SBI Income Plus Arbitrage Active FOF, and SBI Dynamic Asset Allocation Active FOF.
- SBI BANKING & PSU DEBT FUND
- SBI Corporate Bond Fund
- SBI Income Plus Arbitrage Active FOF
- SBI Long Term Fund
- SBI Retirement Benefit Fund - Aggressive Hybrid Plan
- SBI Retirement Benefit Fund - Aggressive Plan
- SBI Retirement Benefit Fund - Conservative Hybrid Plan
- SBI Retirement Benefit Fund - Conservative Plan
NKNeeraj KumarStart date not disclosed
Dealer (Equity) Fund Manager
B Com (H), ACA
Mr. Neeraj Kumar has over 25 years of experience in equity dealing, equity research & Finance & Accounts Dept. Past Assignments: • Equity Dealer - SBI Funds Management Limited - from 26/10/2006 till date. • Equity Dealer, Equity Research Analyst & AAO (F&A)- Life Insurance Corporation of India- September 1996 to October 2006. Presently, he is managing SBI Arbitrage Opportunities Fund (Equity) and SBI Equity Savings Fund (Arbitrage Portion).
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
SBI 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 SBI Arbitrage Fund?
As of 05 Oct 2026, the NAV of SBI Arbitrage Fund is ₹38.92 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has SBI Arbitrage Fund delivered?
SBI Arbitrage Fund has returned +6.61% over 1 year, +7.27% per year over 3 years, +6.83% per year over 5 years and +6.84% 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 SBI Arbitrage Fund?
SBI Arbitrage Fund charges an expense ratio of 1.48% 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 SBI Arbitrage Fund?
SBI Arbitrage Fund's largest holdings are SBI Money Market Fund - Direct Plan - Growth Option (10.4%), SBI Liquid Fund - DIRECT PLAN -Growth Option (5.5%), HDFC Bank Ltd. (5.1%), Reliance Industries Ltd. (4.3%) and State Bank of India (3.8%). Holdings are disclosed monthly and change over time.
How risky is SBI Arbitrage Fund?
SBI 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 -0.6%. 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 0.70 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI Arbitrage Fund's 0.70 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of SBI Arbitrage Fund?
SBI Arbitrage Fund is benchmarked against the NIFTY 50 Arbitrage index. Its alpha and beta on this page are measured against that index.
Who manages SBI Arbitrage Fund?
SBI Arbitrage Fund is managed by Ardhendu Bhattacharya and Neeraj Kumar at SBI.
How is SBI Arbitrage Fund taxed?
SBI 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.