Returns as of: 27 October 2026
- ₹10,000 put in three years ago is worth ₹12,333 now
- 1-year return: 6.60%, lower than the category average of 6.64%
- 3-year return: 7.23% a year, higher than the category average of 7.17%
- Expense ratio (Direct plan): 1.48%, lower than the category average of 1.56%
- Assets: ₹46,309 crore at 30 September 2026
- Largest holding: SBI Liquid Fund – DIRECT PLAN -Growth Option, 7.25% of the fund; the top ten are 40.07%
- Volatility over three years: 1.13% a year
A ₹10,000 investment in the SBI Arbitrage Fund three years ago is worth ₹12,333 today. The fund delivered a 1-year return of 6.60% within the Hybrid – Arbitrage Fund category. The expense ratio is 1.48%. Total assets were ₹46,309 crore at 30 September 2026.
SBI Arbitrage Fund: key details
| Fund house | SBI Mutual Fund |
| Category | Hybrid – Arbitrage Fund |
| Benchmark | Nifty 50 Arbitrage |
| Expense ratio (Direct plan) | 1.48% |
| Assets | ₹46,309 crore (30 September 2026) |
| Minimum investment | ₹5,000 |
| Minimum SIP | ₹500 |
| Exit load | 0.25% on or before 15D, Nil after 15D 0.25% on or before 1M, Nil after 1M |
| Fund managers | Neeraj Kumar, Ardhendu Bhattacharya |
SBI Arbitrage Fund: returns
| Period | Fund return | Category average | Rank in category |
|---|---|---|---|
| 1 week | 0.18% | – | – |
| 1 month | 0.56% | – | – |
| 3 months | 1.64% | – | – |
| 6 months | 3.21% | – | – |
| 1 year (a year) | 6.60% | 6.64% (34 funds) | 18 of 34 |
| 3 years (a year) | 7.23% | 7.17% (26 funds) | 15 of 26 |
| 5 years (a year) | 6.84% | – | – |
The 1-year return of 6.60% is lower than the category average of 6.64%. Over three years, the fund returned 7.23% a year. This performance is higher than the category average of 7.17%.
Assets over recent months
| Month | Assets (₹ crore) |
|---|---|
| 30 April 2026 | 42,847 |
| 31 May 2026 | 43,266 |
| 30 June 2026 | 45,923 |
| 31 July 2026 | 46,803 |
| 31 August 2026 | 47,283 |
| 30 September 2026 | 46,309 |
Volatility and largest fall
| Measure | Fund | Category median |
|---|---|---|
| Volatility (annualised) | 1.13% | 1.11% |
| Largest fall from a high (3 August 2026 to 6 August 2026) | −0.49% | −0.44% |
The fund experienced a volatility of 1.13% a year over the three years ending 27 October 2026. This figure is higher than the category median of 1.11%. The largest fall of the NAV from a high was −0.49%, which is larger than the category median of −0.44%.
Portfolio: top holdings
| Holding | Sector | Weight | Value (₹ crore) |
|---|---|---|---|
| SBI Liquid Fund – DIRECT PLAN -Growth Option | Mutual Fund/ETF | 7.25% | 3,357 |
| SBI Money Market Fund – Direct Plan – Growth Option | Mutual Fund/ETF | 7.06% | 3,271 |
| Reliance Industries Ltd. | Petroleum Products | 5.58% | 2,584 |
| HDFC Bank Ltd. | Banks | 4.92% | 2,276 |
| State Bank of India | Banks | 3.68% | 1,705 |
| ICICI Bank Ltd. | Banks | 2.75% | 1,275 |
| HDFC Bank Ltd. | – | 2.54% | 1,176 |
| Bharti Airtel Ltd. | Telecom – Services | 2.39% | 1,105 |
| Axis Bank Ltd. | Banks | 2.31% | 1,072 |
| Tata Steel Ltd. | Ferrous Metals | 1.59% | 734 |
| Sector | Weight |
|---|---|
| Banks | 20.04% |
| Mutual Fund/ETF | 14.31% |
| Petroleum Products | 6.36% |
| Finance | 5.70% |
| Power | 4.34% |
| Telecom – Services | 4.10% |
| Type | Weight |
|---|---|
| Domestic Equities | 77.22% |
| Domestic Mutual Funds Units | 14.31% |
| Certificate of Deposit | 6.40% |
| Cash & Cash Equivalents and Net Assets | 2.02% |
| Treasury Bills | 0.05% |
| Change | Holding | Weight |
|---|---|---|
| Added | Swiggy Ltd. | 0.21% |
| Added | KEI Industries Ltd. | 0.20% |
| Added | Lodha Developers Ltd. | 0.17% |
| Added | NHPC Ltd. | 0.05% |
| No longer held | Cochin Shipyard Ltd. | 0.08% before |
| No longer held | Bharat Dynamics Ltd. | 0.03% before |
| No longer held | Nippon Life India Asset Management Ltd. | 0.02% before |
| No longer held | Kfin Technologies Ltd. | 0.02% before |
| No longer held | Havells India Ltd. | 0.01% before |
| Weight rose | Reliance Industries Ltd. | 4.30% to 5.58% |
| Weight rose | Tata Steel Ltd. | 1.05% to 1.59% |
| Weight rose | Samvardhana Motherson International Ltd. | 0.33% to 0.71% |
| Weight rose | IndusInd Bank Ltd. | 0.06% to 0.43% |
| Weight fell | DLF Ltd. | 0.37% to 0.05% |
The ten largest holdings account for 40.07% of the portfolio. SBI Liquid Fund – DIRECT PLAN -Growth Option is the largest holding at 7.25%. The weight of Reliance Industries Ltd. rose from 4.30% to 5.58%, while the weight of DLF Ltd. fell from 0.37% to 0.05%.
Objective
The scheme states its objective as follows.
To provide capital appreciation and regular income for unitholders by identifying profitable arbitrage opportunities between the spot and derivative market segments as also through investment of surplus cash in debt and money market instruments.
Fund managers
| Name | Role | Experience |
|---|---|---|
| Neeraj Kumar | Fund Manager | 14 years |
| Ardhendu Bhattacharya | Fund Manager | 11 Years |
SBI Arbitrage Fund: FAQs
What would ₹10,000 in the SBI Arbitrage Fund be worth today?
₹10,000 put into the Direct Growth plan on 27 October 2023 would have been worth ₹12,333 on 27 October 2026. This is what happened over those three years, not a forecast.
What is the return of the SBI Arbitrage Fund?
The Direct Growth plan returned 6.60% over one year to 27 October 2026, lower than the category average of 6.64%. Over three years it returned 7.23% a year.
What is the expense ratio of the SBI Arbitrage Fund?
The expense ratio of the Direct plan is 1.48%; the average for 40 Direct plans in the category is 1.56%.
How large is the SBI Arbitrage Fund?
Its assets were ₹46,309 crore at 30 September 2026.
What are the top holdings of the SBI Arbitrage Fund?
At 30 September 2026 the largest holdings were SBI Liquid Fund – DIRECT PLAN -Growth Option (7.25%), SBI Money Market Fund – Direct Plan – Growth Option (7.06%), Reliance Industries Ltd. (5.58%). The top ten made up 40.07% of the fund.
Who manages the SBI Arbitrage Fund?
The fund is managed by Neeraj Kumar, Ardhendu Bhattacharya.
What is the minimum investment in the SBI Arbitrage Fund?
The minimum investment is ₹5,000. The minimum SIP is ₹500.
What is the exit load of the SBI Arbitrage Fund?
The scheme states its exit load as: 0.25% on or before 15D, Nil after 15D 0.25% on or before 1M, Nil after 1M
What is the benchmark of the SBI Arbitrage Fund?
The scheme’s benchmark is the Nifty 50 Arbitrage.
NAV, expense and portfolio data: Accord Fintech. Calculations: ThePip. For information only; not investment advice.