FoFFoF DomesticRegularGrowthVery High

HDFC Income Plus Arbitrage Active FOF

Q: What is the NAV of HDFC Income Plus Arbitrage Active FOF?

As of 01 Oct 2026, the NAV of HDFC Income Plus Arbitrage Active FOF is ₹41.37 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HDFC Income Plus Arbitrage Active FOF delivered?

HDFC Income Plus Arbitrage Active FOF has returned +5.06% over 1 year, +8.07% per year over 3 years, +9.50% per year over 5 years and +10.44% 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 HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF charges an expense ratio of 0.34% 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 HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF's largest holdings are HDFC Corporate Bond Fund - Growth Option - Direct Plan (45.1%), HDFC ARBITRAGE FUND - Direct Plan - Growth Option (36.9%) and HDFC Money Market Fund - Direct Plan - Growth Option (17.0%). Holdings are disclosed monthly and change over time.

Q: How risky is HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 4.9% and its worst peak-to-trough fall in our sample was -23.3%. 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 0.32 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Income Plus Arbitrage Active FOF's 0.32 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF is benchmarked against the 40% NIFTY 50 Arbitrage Index + 60% NIFTY Composite Debt Index. Its alpha and beta on this page are measured against that index.

Q: Who manages HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF is managed by Anil Bamboli at HDFC.

Q: How is HDFC Income Plus Arbitrage Active FOF taxed?

HDFC Income Plus Arbitrage Active FOF is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

HDFC Mutual Fund · Best Domestic Fund of Funds

NAV

₹41.37

0.00% 1D

as of 01 Oct 2026

This is the Regular plan of HDFC Income Plus Arbitrage Active FOF — 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.

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NAV history

+5.14%CAGR

52-week rangePrev NAV ₹41.37

Latest ₹41.37

Low ₹39.3897th percentile of its 52-week rangeHigh ₹41.42

Scorecard

★★★☆☆3/5 vs 75 of 152 FoF Domestic 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 FoF Domestic (same plan and option). 75 of the 152 FoF Domestic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceBelow avg

3Y CAGR +8.07% · ranks 54 of 75 FoF Domestic funds

RiskLow

Volatility 4.9% vs 17.5% category avg

CostLow

0.3% expense vs 0.7% category avg

ConsistencyHigh

99% 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 FoF Domestic peers (4.9% vs 17.5%)
Low expense ratio (0.34%) vs the FoF Domestic average of 0.69%
Consistent — positive in 99% of rolling 3-year windows

Concerns

1-year return (+5.06%) trails the FoF Domestic average (+11.36%)
3-year return (+8.07%) trails the FoF Domestic average (+18.91%)
5-year return (+9.50%) trails the FoF Domestic average (+12.71%)
Weaker risk-adjusted returns — Sharpe 0.32 below the FoF Domestic average of 0.63

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.34%

Category 0.69%▼0.35%

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

—

Category —

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

0.32

Category 0.63▼0.31

Scheme Info

Definitions

Plan

Regular · Growth

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

None

Exit Load

None

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

40% NIFTY 50 Arbitrage Index + 60% NIFTY Composite Debt 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.

30 Jun 2014

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.06%

Absolute return over the last 3 months (not annualized)

+0.66%

Absolute return over the last 6 months (not annualized)

+2.97%

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

+3.61%

Annualized returns (≥1Y — CAGR)

Definitions

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

+5.06%

3-year annualized return (CAGR)

+8.07%

5-year annualized return (CAGR)

+9.50%

10-year annualized return (CAGR)

+10.47%

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.

+10.44%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

4.94%

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

0.32

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

0.41

Largest peak-to-trough decline over full history

-23.26%

Benchmark ratios

Not shown for FoF Domestic — 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 (FoF Domestic)

Period	Fund	Category avg.	Diff
1M abs	+0.06%	-3.28%	+3.34%
3M abs	+0.66%	-0.40%	+1.06%
6M abs	+2.97%	+3.71%	-0.74%
1Y CAGR	+5.06%	+11.36%	-6.30%
3Y CAGR	+8.07%	+18.91%	-10.84%
5Y CAGR	+9.50%	+12.71%	-3.21%

Category average across peers in FoF Domestic (151 of 152 carry a figure for at least one period), 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 152 peers in FoF Domestic

1Y return

+5.06%

Beats 52.6% · rank #55

3Y return

+8.07%

Beats 28.4% · rank #54

5Y return

+9.50%

Beats 48.1% · rank #28

Sharpe

0.32

Beats 31.1% · rank #52

Sortino

0.41

Beats 29.7% · rank #53

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

₹7.41L

Absolute

+23.53%

XIRR

+8.66%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HDFC Income Plus Arbitrage Active FOF, 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	+3.61%
2025	+1.31%
2024	+12.90%
2023	+22.81%
2022	+7.33%
2021	+21.59%
2020	+14.39%
2019	+5.97%
2018	-2.27%
2017	+23.64%

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

3,016

Expense ratio

0.34%

AUM

₹2,423Cr

Exit load

NIL

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

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 · FoF Domestic

Compare all


HDFC Income Plus Arbitrage Active FOFThis fund HDFC · Regular · Growth	★★★☆☆	+5.06%	+8.07%	+9.50%	—	0.34%	₹2,423Cr
Mirae Asset NYSE FANG + ETF Fund of Fund Mirae Asset · Regular · Growth	★★★★★	+45.76%	+58.41%	+35.98%	—	0.41%	₹2,418Cr
Mirae Asset S&P 500 Top 50 ETF Fund of Fund Mirae Asset · Regular · Growth	★★★★★	+47.60%	+45.91%	+29.33%	—	0.42%	—
Aditya Birla Sun Life Silver ETF FOF Aditya Birla Sun Life · Regular · Growth	★★★★☆	+49.17%	+44.29%	—	—	0.65%	₹1,306Cr
UTI Silver ETF Fund of Fund UTI · Regular · Growth	★★★★★	+47.56%	+42.77%	—	—	0.46%	₹620.81Cr
Axis Silver Fund of Fund Axis · Regular · Growth	★★★★☆	+48.05%	+42.65%	—	—	0.65%	₹1,209Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Other98.92%
Cash & Equivalents1.08%

Cash & cash-like: 16.99% — the 1.08% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-23.3%17 Jan 2020 → 23 Mar 2020
Fell over 2 months, back to the old high on 13 Aug 2020 — 5 months under water after the low.
-18.8%06 Aug 2015 → 25 Feb 2016
Fell over 7 months, back to the old high on 11 Jul 2016 — 5 months under water after the low.
-9.3%24 Jan 2018 → 26 Oct 2018
Fell over 9 months, back to the old high on 29 Mar 2019 — 5 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

HDFC Mutual Fund is run by HDFC Asset Management, part of the HDFC Bank group and listed on the exchanges since 2018. It has been in business since 1999, absorbed Zurich India's schemes in 2003, and is consistently among the two or three largest fund houses by assets.

Launched

09 Dec 1999

Total AUM

₹9,35,100Cr+0.8% QoQ

Avg AUM · April - June 2026

Website

hdfcfund.com

Fund Managers

ABAnil BamboliManaging since 28 Jun 2014

Role

Senior Fund Manager - Fixed Income

Education

• B. Com, Grad • CWA, • MMS (Finance), • CFA (CFA Institute)

Experience

Collectively over 31 years experience in Fund Management and Research, Fixed Income dealing • July 25, 2003 till Date: HDFC Asset Management Company Limited

Funds managed (13)

All schemes Anil Bamboli runs →

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

Fund managers

Anil Bamboli

HDFC 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.

Frequently asked questions

What is the NAV of HDFC Income Plus Arbitrage Active FOF?

As of 01 Oct 2026, the NAV of HDFC Income Plus Arbitrage Active FOF is ₹41.37 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HDFC Income Plus Arbitrage Active FOF delivered?

HDFC Income Plus Arbitrage Active FOF has returned +5.06% over 1 year, +8.07% per year over 3 years, +9.50% per year over 5 years and +10.44% 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 HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF charges an expense ratio of 0.34% 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 HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF's largest holdings are HDFC Corporate Bond Fund - Growth Option - Direct Plan (45.1%), HDFC ARBITRAGE FUND - Direct Plan - Growth Option (36.9%) and HDFC Money Market Fund - Direct Plan - Growth Option (17.0%). Holdings are disclosed monthly and change over time.

How risky is HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 4.9% and its worst peak-to-trough fall in our sample was -23.3%. 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 0.32 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HDFC Income Plus Arbitrage Active FOF's 0.32 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF is benchmarked against the 40% NIFTY 50 Arbitrage Index + 60% NIFTY Composite Debt Index. Its alpha and beta on this page are measured against that index.

Who manages HDFC Income Plus Arbitrage Active FOF?

HDFC Income Plus Arbitrage Active FOF is managed by Anil Bamboli at HDFC.

How is HDFC Income Plus Arbitrage Active FOF taxed?

HDFC Income Plus Arbitrage Active FOF is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.