HybridArbitrage FundDirectIDCWModerately High

Mirae Asset Arbitrage Fund

Q: What is the NAV of Mirae Asset Arbitrage Fund?

As of 01 Oct 2026, the NAV of Mirae Asset Arbitrage Fund is ₹14.61 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mirae Asset Arbitrage Fund delivered?

Mirae Asset Arbitrage Fund has returned +6.76% over 1 year, +7.37% per year over 3 years, +6.74% per year over 5 years and +6.22% 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 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.

Q: 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.

Q: 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.

Q: What does the Sharpe ratio of 0.76 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mirae Asset Arbitrage Fund's 0.76 means it has rewarded its volatility with excess return. Higher is better.

Q: 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.

Q: Who manages Mirae Asset Arbitrage Fund?

Mirae Asset Arbitrage Fund is managed by Jignesh Rao, Jigar Shethia and Pranavi Kulkarni at Mirae Asset.

Q: 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.

Mirae Asset Mutual Fund · Best Arbitrage Mutual Funds

NAV

₹14.61

+0.09% 1D

as of 01 Oct 2026

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 distributed, which is why this NAV sits below the growth plan of the same fund.

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NAV history

+6.81%CAGR

52-week rangePrev NAV ₹14.60

Latest ₹14.61

Low ₹13.69100th percentile of its 52-week rangeHigh ₹14.61

Scorecard

Not rated

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. Not rated — too few comparable Hybrid funds (same plan and option) to rank against yet.

Performance—

Not enough Arbitrage Fund peers to rank yet

Risk—

Volatility 1.1% (no category average yet)

Cost—

2.5% expense (no category average yet)

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

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

2.48%

Category —

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

18.87

Category —

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

0.76

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

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

None

0.25% If Redeemed or Switched Out within 15 days from the date of allotment. Nil after 15 Days.

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

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

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.

22 Jun 2020

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.30%

Absolute return over the last 3 months (not annualized)

+1.61%

Absolute return over the last 6 months (not annualized)

+3.28%

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

+4.98%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.76%

3-year annualized return (CAGR)

+7.37%

5-year annualized return (CAGR)

+6.74%

10-year annualized return (CAGR)

—

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.

+6.22%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.15%

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

0.76

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

1.14

Largest peak-to-trough decline over full history

-0.44%

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	+0.30%	—	—
3M abs	+1.61%	—	—
6M abs	+3.28%	—	—
1Y CAGR	+6.76%	—	—
3Y CAGR	+7.37%	—	—
5Y CAGR	+6.74%	—	—

Category average across peers in Arbitrage Fund, 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.

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

₹7.15L

Absolute

+19.13%

XIRR

+7.16%

Value vs. invested

ValueInvested

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	+4.98%
2025	+6.99%
2024	+8.36%
2023	+7.74%
2022	+4.79%
2021	+4.17%
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

History points

1,552

Expense ratio

2.48%

AUM

₹3,657Cr

Portfolio turnover

1798%

Exit load

0.25% If Redeemed or Switched Out within 15 days from the date of allotment. Nil after 15 Days.

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

P/E ratio

18.9

P/B ratio

4.1

Avg market cap

₹1,86,871Cr

P/E & P/B are portfolio-weighted harmonic means across 169 of 185 equity holdings (72% 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


Mirae Asset Arbitrage FundThis fund Mirae Asset · Direct · IDCW	—	+6.76%	+7.37%	+6.74%	—	2.48%	₹3,657Cr
Tata Arbitrage Fund Tata · Direct · Monthly IDCW	—	+6.77%	+7.47%	+6.91%	—	1.57%	₹22,684Cr
Tata Arbitrage Fund Tata · Direct · Monthly IDCW	—	+6.77%	+7.47%	+6.91%	—	1.57%	₹22,684Cr
Invesco India Arbitrage Fund Invesco · Direct · IDCW	—	+6.88%	+7.46%	+7.08%	—	2.20%	₹27,818Cr
Edelweiss Arbitrage Fund Edelweiss · Direct · IDCW	—	+6.67%	+7.39%	+6.90%	—	1.58%	₹14,863Cr
Nippon India Arbitrage Fund Nippon India · Direct · IDCW	—	+6.73%	+7.30%	+6.79%	—	1.34%	₹16,381Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 98% of the equity sleeve priced.

Large cap48.6%
Mid cap42.8%
Small cap8.6%

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.

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Zerodha Life Cycle Fund 2041 Zerodha · Life Cycle Fund with Maturity of 15 Years	60.7% of 79% equity	—	1.14%	—
Mirae Asset Nifty LargeMidcap 250 Index Fund Mirae Asset · Index Funds	60.5%	★★☆☆☆	0.43%	—
Zerodha Nifty LargeMidcap 250 Index Fund Zerodha · Index Funds	60.5%	★★☆☆☆	0.38%	—
ICICI Prudential Nifty LargeMidcap 250 Index Fund ICICI Prudential · Index Funds	60.5%	★★☆☆☆	0.33%	—
Edelweiss NIFTY Large Midcap 250 Index Fund Edelweiss · Index Funds	60.5%	★★★★☆	0.35%	+10.05%
HDFC Nifty LargeMidcap 250 Index Fund HDFC · Index Funds	60.5%	★★★☆☆	0.25%	—
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund Zerodha · Index Funds	60.5%	★★★☆☆	0.36%	—
Aditya Birla Sun Life Arbitrage Fund Aditya Birla Sun Life · Arbitrage Fund	60.3% of 71% equity	★★★☆☆	1.24%	+7.41%

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 — 0.55% 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 I0.55%

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

₹3,657Cr

April - June 2026

-3%

since January - March 2026

−₹165.35Cr

est. net flow, last quarter

At 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.

Launched

29 Nov 2007

Total AUM

₹2,37,421Cr+5.5% QoQ

Avg AUM · July - September 2026

Website

miraeassetmf.co.in

Fund Managers

JRJignesh RaoManaging since 19 Jun 2020

Role

Head – Dealer and Co – Fund Manager

Education

B.SC., PGDBA

Experience

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.

All schemes Jignesh Rao runs →

JSJigar ShethiaManaging since 19 Jun 2020

Role

Dealer- Equity and Co – Fund Manager

Total experience

18 years

Education

BCOM & CFA Level 3

Experience

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.

All schemes Jigar Shethia runs →

PKPranavi KulkarniManaging since 14 Aug 2026

Education

MBA (Finance) | Symbiosis International University, B.E. (Computer Science) | Mumbai University

Experience

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

Funds managed (9)

All schemes Pranavi Kulkarni 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

Pranavi Kulkarni

Top holdings

BSE Ltd.Trent Ltd.Vedanta Ltd.Larsen & Toubro Ltd.Steel Authority of India Ltd.Kalyan Jewellers India Ltd.Axis Bank Ltd.Cochin Shipyard Ltd.Vodafone Idea Ltd.Bajaj Finance Ltd.APL Apollo Tubes Ltd.Titan Company Ltd.

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.

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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 Mirae Asset Arbitrage Fund?

As of 01 Oct 2026, the NAV of Mirae Asset Arbitrage Fund is ₹14.61 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 +6.76% over 1 year, +7.37% per year over 3 years, +6.74% per year over 5 years and +6.22% 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 0.76 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mirae Asset Arbitrage Fund's 0.76 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.