HybridArbitrage FundRegularGrowthModerately High

PGIM India Arbitrage Fund

Q: What is the NAV of PGIM India Arbitrage Fund?

As of 05 Oct 2026, the NAV of PGIM India Arbitrage Fund is ₹19.67 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has PGIM India Arbitrage Fund delivered?

PGIM India Arbitrage Fund has returned +5.81% over 1 year, +6.31% per year over 3 years, +5.76% per year over 5 years and +5.44% 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 PGIM India Arbitrage Fund?

PGIM India Arbitrage Fund charges an expense ratio of 1.90% 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 PGIM India Arbitrage Fund?

PGIM India Arbitrage Fund's largest holdings are HDFC Bank Ltd. (9.5%), ICICI Bank Ltd. (9.3%), Reliance Industries Ltd. (6.1%), Axis Bank Ltd. (5.7%) and Vodafone Idea Ltd. (5.5%). Holdings are disclosed monthly and change over time.

Q: How risky is PGIM India Arbitrage Fund?

PGIM India 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 -0.7%. 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 -0.17 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. PGIM India Arbitrage Fund's -0.17 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of PGIM India Arbitrage Fund?

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

Q: Who manages PGIM India Arbitrage Fund?

PGIM India Arbitrage Fund is managed by Chetan Chavan and Puneet Pal at PGIM India.

Q: How is PGIM India Arbitrage Fund taxed?

PGIM India 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.

PGIM India Mutual Fund · Best Arbitrage Mutual Funds

NAV

₹19.67

+0.11% 1D

as of 05 Oct 2026

This is the Regular plan of PGIM India 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.

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NAV history

+5.85%absolute

52-week rangePrev NAV ₹19.65

Latest ₹19.67

Low ₹18.58100th percentile of its 52-week rangeHigh ₹19.67

Scorecard

★★☆☆☆2/5 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.

PerformanceBelow avg

3Y CAGR +6.31% · ranks 21 of 26 Arbitrage Funds

RiskModerate

Volatility 1.1% vs 1.3% category avg

CostLow

1.9% 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

Low expense ratio (1.90%) vs the Arbitrage Fund average of 2.20%
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

1.90%

Category 2.20%▼0.30%

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

12.74

Category —

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

-0.17

Category 0.00▼0.17

Scheme Info

Definitions

Plan

Regular · Growth

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

None

For each purchase of units through Lumpsum / switch‐in / Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP), exit load will be as follows: For exits within 30 days from the date of allotment of units: 0.25% • For exits beyond 30 days from the date of allotment of units: Nil • The entire exit load (net of Goods and Service Tax), charged, if any, shall be credited to the Scheme.

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

₹1,000

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

Nifty 50 Arbitrage TR 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.

08 Mar 2016

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.67%

Absolute return over the last 3 months (not annualized)

+1.39%

Absolute return over the last 6 months (not annualized)

+2.85%

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

+4.47%

Annualized returns (≥1Y — CAGR)

Definitions

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

+5.81%

3-year annualized return (CAGR)

+6.31%

5-year annualized return (CAGR)

+5.76%

10-year annualized return (CAGR)

+5.42%

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.

+5.44%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.14%

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

-0.17

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

-0.24

Largest peak-to-trough decline over full history

-0.73%

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	+0.67%	+0.66%	+0.01%
3M abs	+1.39%	+1.37%	+0.02%
6M abs	+2.85%	+2.81%	+0.04%
1Y CAGR	+5.81%	+5.92%	-0.11%
3Y CAGR	+6.31%	+6.49%	-0.18%
5Y CAGR	+5.76%	+5.97%	-0.21%

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 30.3% · rank #24

3Y return

+6.31%

Beats 20% · rank #21

5Y return

+5.76%

Beats 20% · rank #17

Sharpe

-0.17

Beats 20% · rank #21

Sortino

-0.24

Beats 20% · rank #21

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

₹6.97L

Absolute

+16.16%

XIRR

+6.12%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into PGIM India 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	+4.47%
2025	+5.93%
2024	+7.08%
2023	+6.61%
2022	+3.77%
2021	+3.56%
2020	+3.87%
2019	+5.93%
2018	+5.58%
2017	+5.89%

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

2,605

Expense ratio

1.90%

AUM

₹95.26Cr

Portfolio turnover

133%

Exit load

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

P/E ratio

12.7

P/B ratio

2.9

Avg market cap

₹5,71,396Cr

P/E & P/B are portfolio-weighted harmonic means across 25 of 26 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


PGIM India Arbitrage FundThis fund PGIM India · Regular · Growth	★★☆☆☆	+5.81%	+6.31%	+5.76%	—	1.90%	₹95.26Cr
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 — 97% of the equity sleeve priced.

Large cap75.9%
Mid cap16.6%
Small cap7.4%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity71.99%
Cash & Equivalents12.97%
Debt12.62%
Other2.42%

Cash & cash-like: 15.04% — the 12.97% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
LIC MF Arbitrage Fund LIC · Arbitrage Fund	44.4% of 68% equity	★★★☆☆	1.04%	+7.08%
Taurus Banking & Financial Services Fund Taurus · Sectoral/ Thematic	42.6%	★★☆☆☆	1.84%	+7.08%
LIC MF BSE Sensex Index Fund LIC · Index Funds	42.6%	★★☆☆☆	0.66%	+3.99%
DSP Dynamic Asset Allocation Fund DSP · Dynamic Asset Allocation or Balanced Advantage	42.5% of 71% equity	★★★☆☆	1.04%	+9.86%
Invesco India BSE Sensex Index Fund Invesco · Index Funds	42.4%	—	0.77%	—
Nippon India Index Fund - BSE Sensex Nippon India · Index Funds	42.4%	★★☆☆☆	0.21%	+4.26%
Nippon India ETF BSE Sensex Nippon India · Other ETFs	42.4%	—	0.04%	+4.47%
UTI BSE Sensex ETF UTI · Equity ETF	42.4%	★★★☆☆	—	+4.46%

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.

Fund size over time

Quarterly average AUM · AMFI

₹95.26Cr

April - June 2026

-2%

since January - March 2026

−₹3.13Cr

est. net flow, last quarter

At or near its largest, ₹96.90Cr 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

PGIM India Mutual Fund is the Indian arm of PGIM, the global asset management business of the US insurer Prudential Financial. It was formerly DHFL Pramerica Mutual Fund; PGIM bought out DHFL's stake in 2019 and renamed the house.

Launched

12 May 2010

Total AUM

₹27,859Cr+4.6% QoQ

Avg AUM · July - September 2026

Website

pgimindia.com/mutual-funds

Fund Managers

CCChetan ChavanManaging since 29 Mar 2024

Education

B.Com

Funds managed (1)

PGIM India Flexi Cap Fund - Direct Plan - Direct Growth

All schemes Chetan Chavan runs →

PPPuneet PalManaging since 22 Apr 2022

Education

MBA (Finance) from Symbiosis Institute of Business Management, Pune Category of the Scheme Arbitrage Fund Balanced Advantage Fund Equity Savings Fund

Experience

More than 25 years of PGIM experience in the Debt markets Fund, PGIM India Flexi within the Mutual Fund space. Below are details on his past stints: • December 01, 2021 onwards – Head – Fixed Income - PGIM India Asset Fund, PGIM India Equity Management Private Savings Limited. • December 13, 2017 to November 30, 2021 Deputy Head - Fixed PGIM Income - PGIM India Asset Management Private Limited. • February 2012 to December 12, 2017 - Head - Fixed Income - BNP Paribas Asset Management India Pvt. Ltd. • July 2008 to February 2012 - Sr. Vice President & Fund Manager - UTI Asset Management Company Ltd. • August 2006 to July 2008 - Fund Manager - Tata Asset Management Ltd. • April 2004 to August 2006 - Asst. Fund Manager - UTI Asset Management Company Ltd. • June 2001 to March 2004 - Dealer - UTI Asset Management Company Ltd.

Funds managed (21)

All schemes Puneet Pal runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and 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

Chetan Chavan Puneet Pal

Top holdings

HDFC Bank Ltd.ICICI Bank Ltd.Reliance Industries Ltd.Axis Bank Ltd.Vodafone Idea Ltd.PNB Housing Finance Ltd.HDFC Asset Management Company Ltd.Bharti Airtel Ltd.VARUN BEVERAGES LIMITED The Phoenix Mills Ltd.Punjab National Bank Ambuja Cements Ltd.

PGIM India 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 PGIM India Arbitrage Fund?

As of 05 Oct 2026, the NAV of PGIM India Arbitrage Fund is ₹19.67 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has PGIM India Arbitrage Fund delivered?

PGIM India Arbitrage Fund has returned +5.81% over 1 year, +6.31% per year over 3 years, +5.76% per year over 5 years and +5.44% 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 PGIM India Arbitrage Fund?

PGIM India Arbitrage Fund charges an expense ratio of 1.90% 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 PGIM India Arbitrage Fund?

PGIM India Arbitrage Fund's largest holdings are HDFC Bank Ltd. (9.5%), ICICI Bank Ltd. (9.3%), Reliance Industries Ltd. (6.1%), Axis Bank Ltd. (5.7%) and Vodafone Idea Ltd. (5.5%). Holdings are disclosed monthly and change over time.

How risky is PGIM India Arbitrage Fund?

PGIM India 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 -0.7%. 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 -0.17 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. PGIM India Arbitrage Fund's -0.17 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of PGIM India Arbitrage Fund?

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

Who manages PGIM India Arbitrage Fund?

PGIM India Arbitrage Fund is managed by Chetan Chavan and Puneet Pal at PGIM India.

How is PGIM India Arbitrage Fund taxed?

PGIM India 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.