Mirae Asset Arbitrage Fund
This is the Direct plan of Mirae Asset 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 +7.37% · ranks 6 of 26 Arbitrage Funds
Volatility 1.1% vs 1.3% category avg
2.5% 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
- Stronger risk-adjusted returns — Sharpe 0.77 vs 0.64 Arbitrage Fund average
- Less volatile than its Arbitrage Fund peers (1.1% vs 1.3%)
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- High expense ratio (2.48%) vs the Arbitrage Fund average of 1.48%
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 | +0.69% | +0.72% | -0.03% |
| 3M abs | +1.62% | +1.56% | +0.06% |
| 6M abs | +3.27% | +3.18% | +0.09% |
| 1Y CAGR | +6.78% | +6.64% | +0.14% |
| 3Y CAGR | +7.37% | +7.19% | +0.18% |
| 5Y CAGR | +6.79% | +6.66% | +0.13% |
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 Mirae Asset 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 | +5.07% | |
| 2025 | +6.99% | |
| 2024 | +8.36% | |
| 2023 | +7.82% | |
| 2022 | +4.84% | |
| 2021 | +4.19% | |
| 2020part | +2.04% |
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.
Recent changes
Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.
- Expense ratio down: 2.57% → 2.48%02 Oct 2026
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- Equity79.03%
- Other13.73%
- Cash & Equivalents7.24%
Cash & cash-like: 13.73% — the 7.24% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹3,763Cr 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
Mirae Asset Mutual Fund is the Indian arm of Mirae Asset, the South Korean manager, and has operated here since 2008. Its growth came largely from a small number of large equity schemes rather than a wide line-up.
Fund Managers
JRJignesh RaoManaging since 19 Jun 2020
Head – Dealer and Co – Fund Manager
B.SC., PGDBA
Mr. Jignesh N Rao has more than 21 years of experience in the field of Equity dealing. Prior experience in the to this assignment, Mr. Rao was associated with Motilal Oswal Asset Management Company Ltd. as Dealer – Equity. Mr. Rao does not manage any other scheme of Mirae Asset Mutual Fund.
JSJigar ShethiaManaging since 19 Jun 2020
Dealer- Equity and Co – Fund Manager
18 years
BCOM & CFA Level 3
Mr. Jigar Bharat Shethia has more than 19 years of field of Equity dealing. Prior to this assignment, Mr. Shethia was associated with Sushil Financial Services Pvt Ltd as Assistant Manager – Equity. Mr. Shethia does not manage any other scheme of Mirae Asset Mutual Fund.
PKPranavi KulkarniManaging since 14 Aug 2026
MBA (Finance) | Symbiosis International University, B.E. (Computer Science) | Mumbai University
Ms. Pranavi Kulkarni has over 16 years of experience in the financial sector. Prior to this assignment, Ms. Kulkarni was associated with Edelweiss Asset Management Ltd as Fund Manager. Ms. Kulkarni has also worked with CRISIL Ltd and Yes Bank
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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
Mirae Asset 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.
Multi-asset allocation mutual funds: Nippon India, HDFC feature among SIP top performers and laggards
The Economic Times · 2d ago
New fund offers: 9 mutual funds and 2 SIFs are open for subscription now. Check dates and details
The Economic Times · 4d ago
Mirae Asset S&P 500 Top 50 ETF Share Price Today – MASPTOP50 (Live NSE/BSE)
INDmoney · 4d ago
Mirae Asset NYSE FANG+ ETF Share Price Today – MAFANG (Live NSE/BSE)
INDmoney · 4d ago
Mirae Asset cuts Gland Pharma stake to 2.95% after open market sale
scanx.trade · 5d ago
Mirae Asset MF introduces Life Cycle Fund 2056
Investment Guru India · 7d ago
NFO Alert: Mirae Asset Mutual Fund Launches Life Cycle Fund 2056, Check Key Details
Outlook Money · 7d ago
NFO Alert: Mirae Asset Mutual Fund launches Mirae Asset Life Cycle Fund 2056
The Economic Times · 7d ago
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 Mirae Asset Arbitrage Fund?
As of 05 Oct 2026, the NAV of Mirae Asset Arbitrage Fund is ₹14.65 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Mirae Asset Arbitrage Fund delivered?
Mirae Asset Arbitrage Fund has returned +6.78% over 1 year, +7.37% per year over 3 years, +6.79% per year over 5 years and +6.25% 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 Mirae Asset Arbitrage Fund?
Mirae Asset Arbitrage Fund charges an expense ratio of 2.48% 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 Mirae Asset Arbitrage Fund?
Mirae Asset Arbitrage Fund's largest holdings are Mirae Asset Liquid Fund-Direct Plan-Growth (9.2%), Mirae Asset Money Market Fund-Direct Plan-Growth (4.6%), BSE Ltd. (1.5%), Trent Ltd. (1.4%) and Vedanta Ltd. (1.4%). Holdings are disclosed monthly and change over time.
How risky is Mirae Asset Arbitrage Fund?
Mirae Asset 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 -0.4%. 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 0.77 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mirae Asset Arbitrage Fund's 0.77 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of Mirae Asset Arbitrage Fund?
Mirae Asset Arbitrage Fund is benchmarked against the Nifty 50 Arbitrage Index. Its alpha and beta on this page are measured against that index.
Who manages Mirae Asset Arbitrage Fund?
Mirae Asset Arbitrage Fund is managed by Jignesh Rao, Jigar Shethia and Pranavi Kulkarni at Mirae Asset.
How is Mirae Asset Arbitrage Fund taxed?
Mirae Asset 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.