Parag Parikh Arbitrage Fund
NAV history
Scorecard
★★★★☆4/5 vs 35 of 37 Arbitrage Fund peers1Y- 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). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 35 of the 37 Arbitrage Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
Not enough Arbitrage Fund peers to rank yet
Volatility 1.0% vs 1.1% category avg
1.4% expense vs 2.2% category avg
Not enough history for a rolling 3Y view
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Low expense ratio (1.40%) vs the Arbitrage Fund average of 2.24%
Concerns
No significant concerns identified.
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Risk (trailing 3Y)
DefinitionsBenchmark 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 | +0.47% | +0.49% | -0.02% |
| 3M abs | +1.51% | +1.49% | +0.02% |
| 6M abs | +2.87% | +2.77% | +0.10% |
| 1Y CAGR | +5.93% | +5.78% | +0.15% |
| 3Y CAGR | — | +6.57% | — |
| 5Y CAGR | — | +5.84% | — |
Category average across peers in Arbitrage Fund (up to 37 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 37 peers in Arbitrage Fund
Rolling returns
Return for every possible 1Y holding period, not just today’s
22 overlapping 1Y windows, sampled monthly across the fund’s history.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +3.79% | |
| 2025 | +6.24% | |
| 2024 | +7.39% | |
| 2023part | +0.94% |
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.
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹2,418Cr in April - June 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.
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
12 monthly installments of ₹10,000 into Parag Parikh Arbitrage Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
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.
PPFAS 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.
Parag Parikh Flexi Cap's Rajeev Thakkar Explains 'Underperformance' And Says Cash Levels Are Down
NDTV Profit · 3d ago
PPFAS Mutual Fund among 6 MFs holding over Rs 10,000 crore in cash in July
The Economic Times · 5d ago
Mutual funds increase cash allocation by over Rs 7,800 crore in July to Rs 1.90 lakh crore
The Economic Times · 8d ago
Equity markets have remained range-bound for over 2 years: What PPFAS’ Rajeev Thakkar wants investors to know
livemint.com · 12d ago
'If equities delivered predictable returns, there would be no concept of bank FD': PPFAS' Rajeev Thakkar
Upstox · 12d ago
Rajeev Thakkar Backs PPFAS Investment Style Amid New Equity Openings
Business Outreach Magazine · 13d ago
Rajeev Thakkar defends PPFAS strategy, says equity opportunities are improving
Moneycontrol.com · 13d ago
Parag Parikh Flexi Cap current underperformance not noteworthy; cash at 14-15%, HDFC Bank outlook unchange
The Economic Times · 13d 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 Parag Parikh Arbitrage Fund?
As of 20 Aug 2026, the NAV of Parag Parikh Arbitrage Fund is ₹11.97 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Parag Parikh Arbitrage Fund delivered?
Parag Parikh Arbitrage Fund has returned +5.93% over 1 year and +6.59% 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 Parag Parikh Arbitrage Fund?
Parag Parikh Arbitrage Fund charges an expense ratio of 1.40% 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 Parag Parikh Arbitrage Fund?
Its largest holdings are PPFAS Liquid Fund Direct - Growth (11.0%), ICICI Bank Ltd (6.0%), HDFC Bank Ltd (6.0%), Axis Bank Ltd (5.0%) and Reliance Industries Ltd (4.8%). Holdings are disclosed monthly and change over time.
How risky is Parag Parikh Arbitrage Fund?
It is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% 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 -0.56 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Parag Parikh Arbitrage Fund's -0.56 means it has not compensated investors for its volatility over the window. Higher is better.
What is the benchmark of Parag Parikh Arbitrage Fund?
Parag Parikh Arbitrage Fund is benchmarked against the NIFTY 50 Arbitrage Total Return Index . Its alpha and beta on this page are measured against that index.
Who manages Parag Parikh Arbitrage Fund?
Parag Parikh Arbitrage Fund is managed by Raj Mehta, Rajeev Thakkar, Raunak Onkar and Rukun Tarachandani at PPFAS.
How is Parag Parikh Arbitrage Fund taxed?
Parag Parikh 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.