HealthyDirect · GrowthFit for a long SIP
SBI Arbitrage Fund
SBI Mutual FundHybrid Schemes - Arbitrage Fund13.8 years
The scheme will invest 65 to 85 per cent of its assets in equities and equity derivatives and the rest in debt and money market instruments. It will invest in stocks and would offset its investment in stocks by simultaneous equivalent investment in equity derivatives.
- NAV
- 39.0396
- 28 Oct 2026
- 1Y
- +6.5%
- Trailing CAGR
- AUM
- ₹46,309.13 Cr
- 30 Sept 2026
- Volatility
- Low
- 1.1% annualized
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 28 Oct 2026
Stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
In three lines
Fits if · Risk-adjusted return sits above the documented risk-free proxy.
Fits if · Peak-to-trough drawdown has stayed shallower than 15%.
Buy checklist
History depth
Pass
13.8 years of path to read.
Engine status
Pass
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Expense ratio
Pass
1.47% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -0.6%. Ask whether you can hold through a similar fall.
Vs category
Fail
35% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Watch
Ardhendu Bhattacharya · 1.8 years on the scheme.
Exit load
n/a
No exit-load summary on file.
Tax / wrapper
Pass
Direct Growth, no ELSS lock flagged. Equity LTCG rules still apply after one year - not tax advice.
Portfolio concentration
Watch
Top 10 holdings ≈ 116.2% of the portfolio.
Evidence supports a shortlist - confirm with peers before you buy elsewhere.
Before you buy or SIP
Behaviour and wrappers - the usual India MF failure modes - not a buy instruction.
Drawdown rehearsal
This scheme’s worst fall on file is about 1%. Before you SIP, ask whether you would keep contributing through a similar drop - pausing on fear is the usual India MF failure mode.
SIP discipline
If you start a SIP here, diary a 90-day check and an annual review - don’t react to every NAV print.
NAV
Path not in current snapshots
n/a
Returns
Trailing CAGR and simulated monthly SIP XIRR from daily NAV. Category comparison uses the median of comparable share classes in the peer set.
Trailing CAGR
Point-to-point, calendar-day annualized
- 1Y+6.5%
- 3Y+7.2%
- 5Y+6.8%
- 10Y+6.2%
- SI+6.8%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y+6.4%
- 3Y+6.9%
- 5Y+7.1%
- 10Y+6.4%
- Since inception
- +6.8%
- Calendar-day CAGR
- Excess 1Y
- -0.0%
- Category median, same plan and option
- 3Y win rate
- +35%
- Windows beating the median
- 3Y percentile
- 44
- Vs comparable share classes
- SIP 3Y XIRR
- +6.9%
- Simulated monthly SIP
- Worst rolling 3Y
- +4.2%
- 2652 daily-ending windows
- Median rolling 3Y
- +6.6%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 2159 daily-ending windows
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -0.6%
- Worst peak-to-trough
- Current
- -0.2%
- Below last peak
- Current spell
- 5 days
- Days below latest peak
- Time below peak
- +47%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 2 days
- 786 recovered episodes
- Longest recovery
- 97 days
- Trough to prior peak
16 Mar 2020 – 15 Apr 2020
Trough 25 Mar 2020 · recovered in 21 days
-0.6%
29 May 2020 – 8 Sept 2020
Trough 3 Jun 2020 · recovered in 97 days
-0.6%
3 Aug 2026 – 1 Sept 2026
Trough 6 Aug 2026 · recovered in 26 days
-0.5%
1 Sept 2026 – 10 Sept 2026
Trough 4 Sept 2026 · recovered in 6 days
-0.4%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
44
Vs category
50
Consistency
43
Risk-adjusted
64
Drawdown
98
Mean
60
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Healthy
Buying stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Why this status
- No material deterioration, cost shock, or persistent category underperformance in the current evidence set.
Supporting reads
- Risk-adjusted return sits above the documented risk-free proxy.
- Peak-to-trough drawdown has stayed shallower than 15%.
Portfolio
30 Sept 2026 · 196 holdings · top 10 are 116.2%.
- Top 5
- 102.5%
- Top 10
- 116.2%
- Largest holding
- 77.6%
- Effective holdings
- 1.6
Cash Margin
Unspecified
77.6%
SBI Premier Liquid Direct Plan-Growth
Unspecified
7.2%
SBI Money Market Fund Direct-Growth
Unspecified
7.1%
Reliance Industries Ltd
Energy & Utilities
5.6%
HDFC Bank Ltd
Financial
4.9%
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Axis Arbitrage Fund
Axis Mutual Fund
- 1Y
- +6.6%
- 3Y
- +7.3%
- Vol
- 1.0%
- Max DD
- -0.6%
- Sharpe
- 0.67
- 3Y win
- +88%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
ICICI Prudential Arbitrage Fund
ICICI Prudential Mutual Fund
- 1Y
- +6.5%
- 3Y
- +7.2%
- Vol
- 1.1%
- Max DD
- -0.6%
- Sharpe
- 0.97
- 3Y win
- +73%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
Invesco India Arbitrage Fund
Invesco Mutual Fund
- 1Y
- +6.8%
- 3Y
- +7.4%
- Vol
- 1.0%
- Max DD
- -0.5%
- Sharpe
- 0.93
- 3Y win
- +63%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
Mirae Asset Arbitrage Fund
Mirae Asset Mutual Fund
- 1Y
- +6.7%
- 3Y
- +7.3%
- Vol
- 1.0%
- Max DD
- -0.4%
- Sharpe
- 0.23
- 3Y win
- +82%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
UTI - Arbitrage Fund
UTI Mutual Fund
- 1Y
- +6.5%
- 3Y
- +7.3%
- Vol
- 1.0%
- Max DD
- -0.7%
- Sharpe
- 0.78
- 3Y win
- +52%
- Lower volatility
- Higher win rate vs category
- Lower TER
- Higher trailing returns
Caveat: Deeper drawdown