HybridArbitrage FundRegularGrowthModerately High

WhiteOak Capital Arbitrage Fund

Q: What is the NAV of WhiteOak Capital Arbitrage Fund?

As of 01 Oct 2026, the NAV of WhiteOak Capital Arbitrage Fund is ₹11.38 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has WhiteOak Capital Arbitrage Fund delivered?

WhiteOak Capital Arbitrage Fund has returned +6.36% over 1 year and +6.42% 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 WhiteOak Capital Arbitrage Fund?

WhiteOak Capital Arbitrage Fund charges an expense ratio of 3.13% 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 WhiteOak Capital Arbitrage Fund?

WhiteOak Capital Arbitrage Fund's largest holdings are WhiteOak Capital Liquid Fund- Direct plan-GR (5.4%), Vodafone Idea Limited (4.6%), HDFC Bank Limited (3.3%), Reliance Industries Limited (3.3%) and Bharti Airtel Limited (2.8%). Holdings are disclosed monthly and change over time.

Q: How risky is WhiteOak Capital Arbitrage Fund?

WhiteOak Capital 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 is the benchmark of WhiteOak Capital Arbitrage Fund?

WhiteOak Capital Arbitrage Fund is benchmarked against the NIFTY 50 Arbitrage. Its alpha and beta on this page are measured against that index.

Q: Who manages WhiteOak Capital Arbitrage Fund?

WhiteOak Capital Arbitrage Fund is managed by Piyush Baranwal, Ashish Agrawal, Ramesh Mantri and Bhavin Patadia at WhiteOak Capital.

Q: How is WhiteOak Capital Arbitrage Fund taxed?

WhiteOak Capital 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.

WhiteOak Capital Mutual Fund · Best Arbitrage Mutual Funds

NAV

₹11.38

+0.04% 1D

as of 01 Oct 2026

This is the Regular plan of WhiteOak Capital 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.

Compare SIP calculator

NAV history

+6.38%CAGR

52-week rangePrev NAV ₹11.37

Latest ₹11.38

Low ₹10.70100th percentile of its 52-week rangeHigh ₹11.38

Scorecard

★★★★★5/5 vs 34 of 38 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. 34 of the 38 Arbitrage Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Arbitrage Fund peers to rank yet

RiskLow

Volatility 1.1% vs 1.3% category avg

CostHigh

3.1% expense vs 2.2% category avg

Consistency—

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

1-year return (+6.36%) beats the Arbitrage Fund average (+5.85%)
Ranks #2 of 34 on 1-year return in its Arbitrage Fund cohort
Less volatile than its Arbitrage Fund peers (1.1% vs 1.3%)

Concerns

High expense ratio (3.13%) vs the Arbitrage Fund average of 2.17%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

3.13%

Category 2.17%▲0.96%

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

14.13

Category —

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

—

Category -0.01

Scheme Info

Definitions

Plan

Regular · Growth

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

None

Nil Exit load for 10% of the units purchased or switched-in on or before 7 days from the date of allotment; All units redeemed /switched out in excess of the 10% load free units will be subject to - 0.25% exit load, if Units are redeemed/switched-out on or before 30 days from the date of allotment; Nil exit load, if redeemed after 7 days from the date of allotment.

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

₹500

NIFTY 50 Arbitrage

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.

10 Sep 2024

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.26%

Absolute return over the last 3 months (not annualized)

+1.53%

Absolute return over the last 6 months (not annualized)

+3.13%

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

+4.71%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.36%

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

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.

+6.42%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.09%

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

—

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

—

Largest peak-to-trough decline over full history

-0.43%

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	+0.26%	+0.25%	+0.01%
3M abs	+1.53%	+1.32%	+0.21%
6M abs	+3.13%	+2.78%	+0.35%
1Y CAGR	+6.36%	+5.85%	+0.51%
3Y CAGR	—	+6.48%	—
5Y CAGR	—	+5.93%	—

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

+6.36%

Beats 97% · rank #2

3Y return

—

5Y return

—

Sharpe

—

Sortino

—

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

₹1.20L

Current value

₹1.23L

Absolute

+2.86%

XIRR

+6.29%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into WhiteOak Capital 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	+4.71%
2025	+6.62%
2024part	+1.80%

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

509

Expense ratio

3.13%

AUM

₹1,351Cr

Portfolio turnover

1713%

Exit load

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

P/E ratio

14.1

P/B ratio

3.8

Avg market cap

₹3,38,083Cr

P/E & P/B are portfolio-weighted harmonic means across 129 of 142 equity holdings (69% 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


WhiteOak Capital Arbitrage FundThis fund WhiteOak Capital · Regular · Growth	★★★★★ 1Y	+6.36%	—	—	—	3.13%	₹1,351Cr
Kotak Arbitrage Fund Kotak Mahindra · Regular · Growth	★★★★☆	+6.10%	+6.81%	+6.32%	—	2.91%	₹70,783Cr
UTI - Arbitrage Fund UTI · Regular · Growth	★★★★★	+6.04%	+6.76%	+6.14%	—	1.81%	₹10,939Cr
Invesco India Arbitrage Fund Invesco · Regular · Growth	★★★★☆	+6.17%	+6.75%	+6.37%	—	2.87%	₹27,818Cr
HDFC Arbitrage Fund HDFC · Regular · Growth	★★★☆☆	+6.06%	+6.72%	+6.12%	—	2.04%	₹24,544Cr
ICICI Prudential Arbitrage Fund ICICI Prudential · Regular · Growth	★★★★★	+6.08%	+6.70%	+6.15%	—	2.16%	₹32,407Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 99% of the equity sleeve priced.

Large cap63.8%
Mid cap29.6%
Small cap6.6%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity74.49%
Debt13.08%
Other8.08%
Cash & Equivalents4.35%

Cash & cash-like: 12.02% — the 4.35% 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
Aditya Birla Sun Life Arbitrage Fund Aditya Birla Sun Life · Arbitrage Fund	61.1% of 71% equity	★★★☆☆	1.24%	+7.42%
Kotak Arbitrage Fund Kotak Mahindra · Arbitrage Fund	56.7% of 74% equity	★★★☆☆	2.32%	+7.45%
Mirae Asset Arbitrage Fund Mirae Asset · Arbitrage Fund	55.0% of 79% equity	★★★☆☆	2.48%	+7.37%
ICICI Prudential Arbitrage Fund ICICI Prudential · Arbitrage Fund	54.0% of 73% equity	★★★☆☆	1.63%	+7.29%
Nippon India Arbitrage Fund Nippon India · Arbitrage Fund	53.5% of 69% equity	★★★★☆	1.34%	+7.30%
360 ONE MSCI India ETF 360 One · Other ETFs	53.1%	—	—	—
Zerodha Life Cycle Fund 2036 Zerodha · Life Cycle Fund with Maturity of 10 Years	53.0% of 67% equity	—	1.02%	—
Edelweiss Arbitrage Fund Edelweiss · Arbitrage Fund	52.9% of 70% equity	★★★★☆	1.58%	+7.39%

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 — 0.36% 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 I0.36%

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

₹1,351Cr

April - June 2026

+39%

since January - March 2026

+₹360.87Cr

est. net flow, last quarter

At or near its largest, ₹1,351Cr 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.

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

WhiteOak Capital Mutual Fund is run by WhiteOak Capital Asset Management, founded by Prashant Khemka, previously chief investment officer of Goldman Sachs' India equity business. The house entered mutual funds by acquiring YES Mutual Fund in 2021 and now runs a broad equity and hybrid range.

Launched

02 Jul 2018

Total AUM

₹44,845Cr+19.9% QoQ

Avg AUM · July - September 2026

Website

mf.whiteoakamc.com

Fund Managers

PBPiyush BaranwalStart date not disclosed

Role

Senior Fund Manager

Education

Bachelor of Engineering, PGDBM, clearedall 3 levels of CFA

Experience

Over 18 years' experience in Portfolio Management and trading in Fixed Income securities. WhiteOak Capital Asset Management Limited (November 01, 2021 - till date) 2. YES Asset Management (India) Limited (October 22, 2018 – October 31, 2021) 3. BOI AXA Investment Managers (July 2014 - October 19, 2018)

Funds managed (21)

All schemes Piyush Baranwal runs →

AAAshish AgrawalStart date not disclosed

Education

PGDM (Finance)

Experience

Over 18 years’ of experience in Financial market: 1. WhiteOak Capital Asset Management Limited (August 2022 - till date) 2. Motilal Oswal Asset Management Company Limited (September 2016 – July 2022) 3. Citi Group Global Markets India Pvt Ltd (October 2010 - September 2016) in the last

Funds managed (19)

All schemes Ashish Agrawal runs →

RMRamesh MantriStart date not disclosed

Role

CIO - Equities

Education

MBA, CFA

Experience

Over 20 years' experience in Financial market: 1. WhiteOak Capital Asset Management Limited (December 21, 2021 - till date) 2. White Oak Capital Management (June 2017 – December 20, 2021) 3. Ashoka Capital Advisers (February 2013 - May 2017)

Funds managed (19)

All schemes Ramesh Mantri runs →

BPBhavin PatadiaStart date not disclosed

Education

MBA in Financial

Experience

Over 16 years' experience in Portfolio Management and trading in Fixed Income securities. 1. WhiteOak Capital Asset Management Limited (November 06, 2024 - till date) 2. Edelweiss Asset Management Limited (July 2019 – November 05, 2024) 3. Bandhan Mutual Fund (previously IDFC Mutual Fund) (September 2016 – July 2019) 4. Standard Chartered Securities (July 2015 – September 2016) in the last

Funds managed (1)

WhiteOak Capital Equity Savings Fund

All schemes Bhavin Patadia runs →

Fund manager, benchmark and dealing terms from 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

Piyush Baranwal Ashish Agrawal Ramesh Mantri Bhavin Patadia

Top holdings

Vodafone Idea Limited HDFC Bank Limited Reliance Industries Limited Bharti Airtel Limited Axis Bank Limited UltraTech Cement Limited NTPC Limited Maruti Suzuki India Limited Infosys Limited TVS Motor Company Limited The Federal Bank Limited Hindalco Industries Limited

WhiteOak Capital 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 WhiteOak Capital Arbitrage Fund?

As of 01 Oct 2026, the NAV of WhiteOak Capital Arbitrage Fund is ₹11.38 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has WhiteOak Capital Arbitrage Fund delivered?

WhiteOak Capital Arbitrage Fund has returned +6.36% over 1 year and +6.42% 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 WhiteOak Capital Arbitrage Fund?

WhiteOak Capital Arbitrage Fund charges an expense ratio of 3.13% 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 WhiteOak Capital Arbitrage Fund?

WhiteOak Capital Arbitrage Fund's largest holdings are WhiteOak Capital Liquid Fund- Direct plan-GR (5.4%), Vodafone Idea Limited (4.6%), HDFC Bank Limited (3.3%), Reliance Industries Limited (3.3%) and Bharti Airtel Limited (2.8%). Holdings are disclosed monthly and change over time.

How risky is WhiteOak Capital Arbitrage Fund?

WhiteOak Capital 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 is the benchmark of WhiteOak Capital Arbitrage Fund?

WhiteOak Capital Arbitrage Fund is benchmarked against the NIFTY 50 Arbitrage. Its alpha and beta on this page are measured against that index.

Who manages WhiteOak Capital Arbitrage Fund?

WhiteOak Capital Arbitrage Fund is managed by Piyush Baranwal, Ashish Agrawal, Ramesh Mantri and Bhavin Patadia at WhiteOak Capital.

How is WhiteOak Capital Arbitrage Fund taxed?

WhiteOak Capital 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.