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HDFC Mutual Fund · #106796

HDFC ARBITRAGE FUND - Retail Growth Option

Hybrid · Arbitrage Fund · Regular · Growth

Regular TER: 2.09% · as of

5-year NAV · change the window using the controls in the rolling-returns card below ↓

2021-10-25 → 2026-05-20

min ₹23.92 change +30.6% max ₹31.25

Latest NAV

₹31.2300

as of 2026-05-20 · -0.07% vs 2026-05-19

Earliest NAV in archive

2007-10-29

AMFI archive begins Apr 2006

Worst peak-to-trough drawdown

-0.82%

trough 2019-07-29 (since archive start)

Trailing CAGR vs assigned benchmark

Window Scheme CAGR Benchmark CAGR Excess Period
1y +6.16% -12.41%* +18.57% 2025-10-23 → today · 0.6y
3y +6.71% +5.58%* +1.13% 2023-10-23 → today · 2.6y
5y +6.01% — — 2021-10-22 → today · 4.6y
10y +5.41% — — 2016-10-21 → today · 9.6y

Benchmark assignment is mapped by category and sub-category from public sources.
* The total-return version of this benchmark is no longer published, so starred rows use its price index, which excludes dividends. That understates the benchmark by roughly its dividend yield (about 1.2% a year) and overstates Excess by the same.
"Since inception (in archive)" uses the earliest NAV in the AMFI archive (April 2006 onward).

Rolling 1-year returns distribution · 1124 daily entry points · last 5 years

Imagine buying this fund on any day in this period and holding for exactly one year. Each bar counts how often that ended with a given return: green bars made money, red bars lost money even after a full year. Taller bar = more common outcome.

+2.9% to +3.0%: 20 windows +3.0% to +3.2%: 39 windows +3.2% to +3.4%: 32 windows +3.4% to +3.6%: 89 windows +3.6% to +3.7%: 73 windows +3.7% to +3.9%: 30 windows +3.9% to +4.1%: 11 windows +4.1% to +4.2%: 14 windows +4.2% to +4.4%: 11 windows +4.4% to +4.6%: 19 windows +4.6% to +4.7%: 12 windows +4.7% to +4.9%: 14 windows +4.9% to +5.1%: 14 windows +5.1% to +5.3%: 20 windows +5.3% to +5.4%: 14 windows +5.4% to +5.6%: 6 windows +5.6% to +5.8%: 9 windows +5.8% to +5.9%: 17 windows +5.9% to +6.1%: 30 windows +6.1% to +6.3%: 65 windows +6.3% to +6.4%: 88 windows +6.4% to +6.6%: 37 windows +6.6% to +6.8%: 50 windows +6.8% to +7.0%: 69 windows +7.0% to +7.1%: 63 windows +7.1% to +7.3%: 72 windows +7.3% to +7.5%: 57 windows +7.5% to +7.6%: 83 windows +7.6% to +7.8%: 58 windows +7.8% to +8.0%: 8 windows +3% +8%

Median 1y return

+6.3%

Mean 1y return

+5.8%

Best / worst 1y

+8.0% / +2.9%

Windows positive

100%

5th %ile +3.2%
25th %ile +3.8%
75th %ile +7.1%
95th %ile +7.6%

Longer rolling windows · annualised

Same idea over longer holding periods. Returns are CAGR (annualised) so they're directly comparable to the trailing-CAGR table above.

Period Median Mean Worst Best % positive Windows
3y rolling +5.6% +5.5% +3.5% +7.4% 100% 2358
5y rolling +6.2% +6.2% +4.4% +8.2% 100% 3334
10y rolling +6.2% +6.2% +5.5% +7.1% 100% 2109

Beat-benchmark consistency · vs assigned benchmark, across overlapping windows

Of all the rolling windows we observed, how often did this fund's return exceed the benchmark's over the same window. A higher fraction means more consistent outperformance, but says nothing about future windows.

Period Windows beat Total windows % beat Avg excess
(annualised)
1y rolling 279 1124 25% -7.8%
3y rolling 103 2358 4% -8.1%
5y rolling 403 3334 12% -6.5%

Windows ending up to 20 May 2026, the benchmark's last published value.

Monthly returns · since inception (Oct 2007)

How each calendar month went: green months gained, red months lost. Deeper colour = bigger move.

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2026 +0.6 +0.4 +0.5 +0.4 +0.2 · · · · · · · +2.3
2025 +0.6 +0.4 +0.7 +0.6 +0.3 +0.6 +0.5 +0.4 +0.4 +0.5 +0.5 +0.6 +6.3
2024 +0.8 +0.5 +0.6 +0.7 +0.6 +0.6 +0.6 +0.6 +0.5 +0.6 +0.5 +0.6 +7.5
2023 +0.4 +0.7 +0.6 +0.2 +0.5 +0.7 +0.5 +0.7 +0.6 +0.6 +0.4 +0.6 +6.8
2022 +0.4 +0.4 +0.1 +0.3 +0.3 +0.3 -0.1 +0.5 +0.4 +0.4 +0.4 +0.6 +4.1
2021 +0.1 +0.3 +0.4 +0.4 +0.4 +0.4 +0.3 +0.3 +0.1 +0.3 +0.3 +0.1 +3.5
2020 +0.6 +0.7 +0.1 +0.3 +0.7 -0.2 -0.1 +0.3 +0.3 +0.4 +0.0 +0.4 +3.6
2019 +0.5 +0.3 +0.6 +0.7 +0.8 +0.2 +0.7 +0.4 +0.3 +0.7 +0.4 +0.3 +5.8
2018 +0.6 +0.3 +0.6 +0.3 +0.4 +0.6 +0.5 +0.3 +0.6 +0.6 +0.4 +0.3 +5.5
2017 +0.3 +0.4 +0.5 +0.3 +0.5 +0.6 +0.4 +0.5 +0.5 +0.4 +0.4 +0.4 +5.2
2016 +0.4 +0.3 +0.7 +0.4 +0.5 +0.6 +0.5 +0.6 +0.6 +0.5 +0.6 +0.5 +6.5
2015 +0.7 +0.6 +0.8 +0.5 +0.7 +0.7 +0.5 +0.6 +0.5 +0.6 +0.3 +0.7 +7.4
2014 +0.9 +0.6 +0.6 +0.8 +0.7 +0.4 +0.8 +0.5 +0.6 +0.6 +0.4 +0.7 +7.8
2013 +0.7 +0.6 +0.6 +0.8 +0.5 +0.5 +0.4 +0.9 +0.7 +0.7 +0.7 +0.8 +8.2
2012 +0.6 +0.6 +0.9 +1.0 +0.8 +0.7 +0.9 +0.5 +0.6 +0.6 +0.7 +0.6 +8.7
2011 +0.7 +0.7 +0.4 +0.7 +0.6 +0.5 +0.6 +0.5 +0.6 +0.3 +0.9 +0.7 +7.5
2010 +0.5 +0.2 +0.2 +0.4 +0.5 +0.2 +0.8 +0.5 +0.7 +0.9 +0.8 +0.6 +6.5
2009 +0.5 +0.6 +0.2 +0.3 +0.3 +0.5 +0.2 +0.3 +0.4 +0.6 +0.1 +0.1 +4.4
2008 +1.7 +0.8 +0.5 +0.2 +0.8 +0.8 -0.1 +0.7 +1.0 +0.9 +0.3 +1.1 +9.1
2007 · · · · · · · · · · +0.2 +0.5 +0.8
Avg +0.6 +0.5 +0.5 +0.5 +0.5 +0.5 +0.4 +0.5 +0.5 +0.6 +0.4 +0.5 +6.4

All values in %. Each cell compares the last NAV of the month with the last NAV of the month before. The latest month is month-to-date; the Year column compounds the months shown on that row. The Avg row is the plain average of each column across the years shown (18 complete calendar years in the last column); the running month is left out of it.

Portfolio mix · asset class breakdown as of 2026-09-30

Equity 67.5%
ETF / FoF 18.4%
Other / unclassified 14.1%
Equity split: Large 55.6% Mid 10.2% Small 1.7%

Size axis (Style Box) · Large / Mid / Small split of latest disclosed holdings

Per AMFI's semi-annual Categorisation of Stocks (top 100 = Large, 101-250 = Mid, 251+ = Small).

  • Large Cap 55.6%
  • Mid Cap 10.2%
  • Small Cap 1.7%
  • Debt 9.0%
  • Cash & Equivalents 5.1%
  • ETF / FoF (incl. gold/silver) 18.4%

32% of the fund sits outside AMFI-classified equity: debt, cash, ETF/FoF units, REITs, foreign holdings, or unlisted/pre-IPO paper.

Index overlap

· vs · share of this fund's AUM that sits in stocks the index also includes

41.7%

47 of 169 holdings are index members

Many holdings outside the benchmark universe

As of 2026-09-30

How to read this: This number shows whether the fund invests in the same stocks as the index. It does not show whether the fund weights those stocks like the index. A low number (say below 60%) means the fund holds a meaningful share in stocks the index doesn't carry at all (typical of sectoral, small-cap-tilted or international funds vs a broad benchmark). A high number (80%+) is normal for any large-cap or flexi-cap fund, because Indian active funds mostly pick from the same large and mid-cap stocks as the Nifty 500. It does not on its own signal a closet index fund; to identify that you'd need per-stock weight comparison, which requires index constituent weights we don't currently ingest.

Top stocks held · 169 holdings as of 2026-09-30 See changes vs previous snapshot →

Stock Sector % of fund
HDFC Money Market Fund - Direct Plan - Growth Option — 9.14%
HDFC Bank Ltd.£ Banks 5.04%
ICICI Bank Ltd. Banks 5.04%
Union Bank of India ICRA A1+ 3.84%
HDFC Liquid Fund - Direct Plan - Growth Option — 3.75%
Reliance Industries Ltd. Petroleum Products 3.39%
Bharti Airtel Ltd. Telecom - Services 3.31%
Axis Bank Ltd. Banks 2.87%
HDFC Ultra Short Term Fund - Direct Plan - Growth Option — 2.85%
HDFC Ultra Short to Short Term Fund - Direct Plan - Growth Option — 2.64%
JSW Steel Ltd. Ferrous Metals 2.32%
State Bank of India Banks 2.30%
Bajaj Finance Ltd. Finance 1.80%
Tata Steel Ltd. Ferrous Metals 1.55%
Canara Bank Banks 1.52%
Kotak Mahindra Bank Limited Banks 1.44%
Hindustan Unilever Ltd. Diversified FMCG 1.43%
Punjab National Bank Banks 1.27%
Divis Laboratories Ltd. Pharmaceuticals & Biotechnology 1.26%
Indian Overseas Bank^ CRISIL-A1+ 1.15%

Sector mix

Financial Services: 30.1% ETF / FoF: 19.4% Corporate Debt: 9.5% Metals & Mining: 6.8% Oil Gas & Consumable Fuels: 5.7% Telecommunication: 5.4% Fast Moving Consumer Goods: 4.3% Other: 18.8%
  • Financial Services 30.1%
  • ETF / FoF 19.4%
  • Corporate Debt 9.5%
  • Metals & Mining 6.8%
  • Oil Gas & Consumable Fuels 5.7%
  • Telecommunication 5.4%
  • Fast Moving Consumer Goods 4.3%
  • Other 18.8%

Risk metrics, trailing 3y (628 matched daily returns, 2023-10-25 → 2026-05-20)

Sharpe

+0.59

excess return per unit of total volatility

Sortino

+0.69

excess return per unit of downside vol

Calmar

+8.23

CAGR / |max DD| in window

Beta vs benchmark

-0.01

scheme sensitivity to benchmark moves

Tracking error

+13.95%

annualised stdev of (scheme − benchmark)

Up capture

+2.9%

% of benchmark gain captured on up days

Down capture

-6.0%

% of benchmark loss participated in

Risk-free rate assumed 6.0% annualised. Benchmark = Nifty 50 TRI (assigned by category mapping).

Factual data only. No investment advice or recommendation. Read the scheme document and consult a SEBI-registered Investment Adviser for personalised guidance.