Parag Parikh Arbitrage Fund
- NAV as on 24 Sep 2026
- ₹12.03-0.10%1 day
- Return since launch
- 6.6%
- 52-week range
- ₹11.34 — ₹12.04
- AUM
- ₹2,799 Cr
Parag Parikh Arbitrage Fund is a Arbitrage hybrid fund from PPFAS Mutual Fund with ₹2,799 Cr under management, launched in 2023. The expense ratio is 1.40% and the SEBI riskometer reading is Low.
Performance
Parag Parikh Arbitrage Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +6.1% against +6.0% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 5.9% | 0.0 pts | 5.9% | 5.8% |
| 2Y | 6.0% | +0.1 pts | 5.9% | 6.0% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.3% | 0.0 pts | 0.3% | 0.3% |
| 3M | 1.3% | 0.0 pts | 1.3% | 1.3% |
| 6M | 2.8% | +0.1 pts | 2.7% | 2.8% |
| 1Y | 6.0% | +0.2 pts | 5.9% | 6.0% |
| 2Y | 6.2% | +0.1 pts | 6.1% | 6.2% |
Since launch (23 Oct 2023): 6.6%
Calendar-year returns
Category averageShow as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 6.2% | −0.6 pts | 6.9% |
| 2024 | 7.3% | −0.7 pts | 8.0% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
1.39%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.53%
- Brokerage
- 0.10%
- Transaction charges
- 0.09%
- Statutory levies
- 0.67%
- Exit load
- Exit load of 0.25%, if redeemed within 30 days.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY 50 Arbitrage TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Your principal is treated as being at low risk — typically overnight and very short duration debt schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | — | — | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.50 | 0.62 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | — | 1.88 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | — | 2.31 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | — | 0.51 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 4 category peers | |||
Portfolio
Parag Parikh Arbitrage Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Debt26.0%
- Other74.2%
Market cap split
- Large85.9%
- Mid11.3%
- Small2.8%
- P/E
- 16.08
- P/B
- 2.10
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Others | Others | 73.77% | ₹2,065 Cr | +203.04% | +197.69% | +200.48% |
| Parag Parikh Liquid Fund Direct - Growth | Unclassified | 10.47% | ₹293 Cr | +15.25% | +12.80% | +13.05% |
| Small Industries Devp. Bank of India Ltd. | Financial | 5.11% | ₹143 Cr | +3.76% | +4.41% | +5.12% |
| Canara Bank | Financial | 1.76% | ₹49.20 Cr | -0.66% | +6.41% | -5.43% |
| Indian Bank | Financial | 1.74% | ₹48.80 Cr | +1.90% | +2.14% | +1.32% |
| National Bank For Agriculture & Rural Development | Financial | 1.74% | ₹48.65 Cr | +1.89% | +1.11% | +1.28% |
| HDFC Bank Ltd. | Financial | 1.70% | ₹47.59 Cr | -4.33% | -2.69% | -11.04% |
| Bank Of Baroda | Financial | 0.88% | ₹24.64 Cr | -0.26% | -4.27% | -3.57% |
| The Indian Hotels Company Ltd. | Services | 0.58% | ₹16.16 Cr | -0.05% | +0.43% | +0.18% |
| Ultratech Cement Ltd. | Materials | 0.54% | ₹15.15 Cr | -1.52% | -2.83% | -3.47% |
| Reserve Bank of India | Financial | 0.35% | ₹9.80 Cr | +0.38% | +0.43% | +0.53% |
| Axis Bank Ltd. | Financial | 0.10% | ₹2.92 Cr | -4.74% | -7.95% | -6.52% |
| Bharat Heavy Electricals Ltd. | Capital Goods | 0.05% | ₹1.50 Cr | -6.62% | -4.77% | -0.01% |
| NMDC Ltd. | Metals & Mining | 0.04% | ₹0.99 Cr | -0.07% | -4.11% | -4.22% |
| IDFC First Bank Ltd. | Financial | 0.03% | ₹0.86 Cr | -2.71% | -4.09% | -4.99% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 0.03% | ₹0.73 Cr | -1.87% | -0.39% | -0.35% |
| DLF Ltd. | Construction | 0.02% | ₹0.59 Cr | -1.74% | -2.37% | -3.39% |
| State Bank of India | Financial | 0.02% | ₹0.45 Cr | -0.49% | -0.86% | -5.49% |
| Tata Steel Ltd. | Metals & Mining | 0.01% | ₹0.34 Cr | -0.03% | -4.82% | -3.35% |
| Grasim Industries Ltd. | Materials | 0.01% | ₹0.24 Cr | -0.01% | -1.47% | -0.84% |
| Biocon Ltd. | Healthcare | 0.01% | ₹0.16 Cr | -0.72% | -0.57% | — |
| Aditya Birla Capital Ltd. | Financial | 0.00% | ₹0.12 Cr | -0.03% | -0.75% | -1.19% |
| One97 Communications Ltd. | Services | 0.00% | ₹0.12 Cr | -0.05% | -0.64% | -0.84% |
| JIO Financial Services Ltd. | Financial | 0.00% | ₹0.10 Cr | -0.03% | -1.06% | -1.21% |
| NTPC Ltd. | Energy | 0.00% | ₹0.09 Cr | -0.75% | — | -0.52% |
| Indus Towers Ltd. | Communication | 0.00% | ₹0.08 Cr | — | — | — |
| Coal India Ltd. | Materials | 0.00% | ₹0.08 Cr | — | — | -0.46% |
| company:355 | Healthcare | 0.00% | ₹0.06 Cr | — | -0.22% | — |
| Divi's Laboratories Ltd. | Healthcare | 0.00% | ₹0.05 Cr | -0.18% | -0.20% | -0.19% |
| The Federal Bank Ltd. | Financial | 0.00% | ₹0.05 Cr | — | — | -0.11% |
| Indian Oil Corporation Ltd. | Energy | 0.00% | ₹0.03 Cr | — | — | -0.07% |
| Yes Bank Ltd. | Financial | 0.00% | ₹0.03 Cr | -0.13% | -0.13% | -0.04% |
| Asian Paints Ltd. | Materials | 0.00% | ₹0.02 Cr | — | — | — |
| Crompton Greaves Consumer Electricals Ltd. | Consumer Discretionary | 0.00% | ₹0.01 Cr | -0.03% | -0.34% | -0.58% |
| company:3988 | Healthcare | 0.00% | ₹0.00 Cr | — | — | -0.08% |
| Inox Wind Ltd. | Capital Goods | 0.00% | ₹0.00 Cr | -0.01% | — | — |
| Bajaj Finserv Ltd. | Financial | 0.00% | ₹0.00 Cr | -0.02% | -0.46% | — |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 0.00% | ₹0.00 Cr | -0.01% | -0.01% | — |
| Godrej Properties Ltd. | Construction | 0.00% | ₹0.00 Cr | -0.02% | -0.12% | -0.16% |
| TVS Motor Company Ltd. | Automobile | -0.00% | ₹-0.00 Cr | — | — | — |
| HDFC Life Insurance Co Ltd. | Insurance | -0.00% | ₹-0.00 Cr | — | — | -0.09% |
| AU Small Finance Bank Ltd. | Financial | -0.00% | ₹-0.00 Cr | — | — | — |
| company:14386 | Insurance | -0.00% | ₹-0.00 Cr | — | — | — |
| Zydus Lifesciences Ltd. | Healthcare | -0.00% | ₹-0.00 Cr | -0.51% | — | — |
| company:8372 | Healthcare | -0.00% | ₹-0.00 Cr | — | — | -0.13% |
| Power Grid Corporation Of India Ltd. | Energy | -0.00% | ₹-0.00 Cr | -0.01% | — | -0.84% |
| SBI Life Insurance Company Ltd. | Insurance | -0.00% | ₹-0.00 Cr | -0.01% | -0.15% | — |
| Larsen & Toubro Ltd. | Construction | -0.00% | ₹-0.00 Cr | -0.29% | — | -1.36% |
| NBCC (India) Ltd. | Construction | -0.00% | ₹-0.01 Cr | -0.04% | -0.04% | -0.05% |
| company:7684 | Chemicals | -0.00% | ₹-0.01 Cr | — | — | — |
| Tata Consumer Products Ltd. | Consumer Staples | -0.00% | ₹-0.01 Cr | -0.13% | -0.28% | -0.31% |
| LIC Housing Finance Ltd. | Financial | -0.00% | ₹-0.02 Cr | -0.01% | -0.16% | -0.19% |
| PNB Housing Finance Ltd. | Financial | -0.00% | ₹-0.03 Cr | -0.21% | -0.22% | -0.23% |
| Hindustan Unilever Ltd. | Consumer Staples | -0.00% | ₹-0.03 Cr | — | — | -0.37% |
| Oil And Natural Gas Corporation Ltd. | Energy | -0.00% | ₹-0.03 Cr | -0.50% | -1.14% | -2.09% |
| company:5765 | Insurance | -0.00% | ₹-0.04 Cr | — | — | — |
| Tata Motors Passenger Vehicles Ltd. | Automobile | -0.00% | ₹-0.06 Cr | — | -0.04% | -2.86% |
| Tata Power Company Ltd. | Energy | -0.00% | ₹-0.06 Cr | -0.13% | -1.64% | -2.91% |
| Dabur India Ltd. | Consumer Staples | -0.00% | ₹-0.06 Cr | 0.00% | -0.05% | -0.06% |
| Bharat Electronics Ltd. | Capital Goods | -0.00% | ₹-0.07 Cr | -0.05% | -3.10% | -3.48% |
| Hindalco Industries Ltd. | Metals & Mining | -0.00% | ₹-0.09 Cr | -0.47% | -1.37% | -0.95% |
| JSW Steel Ltd. | Metals & Mining | -0.00% | ₹-0.11 Cr | -0.15% | -0.68% | -0.17% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | -0.01% | ₹-0.14 Cr | -0.01% | -0.01% | -0.14% |
| Punjab National Bank | Financial | -0.01% | ₹-0.19 Cr | -0.12% | -3.10% | -3.02% |
| Cipla Ltd. | Healthcare | -0.01% | ₹-0.19 Cr | -0.01% | — | -0.40% |
| ICICI Bank Ltd. | Financial | -0.01% | ₹-0.20 Cr | -0.04% | -9.17% | -6.09% |
| Varun Beverages Ltd. | Consumer Staples | -0.01% | ₹-0.20 Cr | -0.01% | -0.60% | -0.75% |
| Hindustan Aeronautics Ltd. | Capital Goods | -0.01% | ₹-0.24 Cr | -0.45% | -2.87% | -3.79% |
| Bandhan Bank Ltd. | Financial | -0.01% | ₹-0.25 Cr | -0.02% | -1.88% | -1.87% |
| Steel Authority Of India Ltd. | Metals & Mining | -0.01% | ₹-0.25 Cr | -0.84% | -0.77% | -2.74% |
| Bajaj Finance Ltd. | Financial | -0.01% | ₹-0.26 Cr | -0.03% | -1.58% | -2.04% |
| ITC Ltd. | Consumer Staples | -0.01% | ₹-0.34 Cr | -0.01% | -1.01% | -0.18% |
| Eicher Motors Ltd. | Automobile | -0.02% | ₹-0.43 Cr | -0.06% | — | — |
| GMR Airports Ltd. | Construction | -0.02% | ₹-0.53 Cr | -0.03% | -2.53% | -2.76% |
| Mahindra & Mahindra Ltd. | Automobile | -0.04% | ₹-1.17 Cr | -1.99% | -5.68% | -4.47% |
| Kotak Mahindra Bank Ltd. | Financial | -0.07% | ₹-1.96 Cr | -7.88% | -7.28% | -3.73% |
| Reliance Industries Ltd. | Energy | -0.08% | ₹-2.33 Cr | -0.59% | -6.67% | -7.51% |
| Bharti Airtel Ltd. | Communication | -0.15% | ₹-4.20 Cr | -8.94% | -7.18% | -4.36% |
| company:17623 | Services | -0.57% | ₹-15.85 Cr | — | -0.44% | -0.18% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Axis Bank Ltd. | -1.42% | -4.60% | -3.18% |
| Others | 74.16% | 71.04% | -3.13% |
| Shriram Finance Ltd | -1.77% | 0.00% | +1.77% |
| The Indian Hotels Company Ltd. | -0.59% | 0.58% | +1.16% |
| Tata Steel Ltd. | -1.07% | -1.99% | -0.92% |
| company:5765 | 0.00% | -0.79% | -0.79% |
| Ultratech Cement Ltd. | -1.86% | -1.20% | +0.66% |
| Mahindra & Mahindra Ltd. | -0.91% | -1.51% | -0.60% |
| Eternal Ltd. | -0.57% | 0.00% | +0.57% |
| company:17623 | 0.00% | -0.57% | -0.57% |
| NTPC Ltd. | -0.03% | -0.57% | -0.54% |
| HDFC Bank Ltd. | -5.41% | -5.90% | -0.49% |
| Bajaj Finserv Ltd. | -0.38% | -0.01% | +0.38% |
| Bajaj Finance Ltd. | -1.04% | -0.73% | +0.31% |
| Bharti Airtel Ltd. | -4.79% | -4.48% | +0.31% |
| Kotak Mahindra Bank Ltd. | -3.82% | -4.07% | -0.25% |
| Zydus Lifesciences Ltd. | -0.24% | -0.01% | +0.24% |
| GMR Airports Ltd. | -1.13% | -0.89% | +0.23% |
| Parag Parikh Liquid Fund Direct - Growth | 10.67% | 10.47% | -0.20% |
| Indus Towers Ltd. | -0.20% | -0.39% | -0.20% |
| Sun Pharmaceutical Industries Ltd. | -0.92% | -1.08% | -0.16% |
| Reliance Industries Ltd. | -4.63% | -4.49% | +0.15% |
| company:355 | 0.00% | -0.14% | -0.14% |
| Bharat Heavy Electricals Ltd. | -2.98% | -3.09% | -0.11% |
| DLF Ltd. | -0.93% | -0.83% | +0.11% |
| State Bank of India | -2.43% | -2.54% | -0.10% |
| NBCC (India) Ltd. | -0.71% | -0.62% | +0.09% |
| Bank Of Baroda | -0.87% | -0.79% | +0.08% |
| company:14386 | 0.00% | -0.08% | -0.08% |
| The Federal Bank Ltd. | -0.01% | -0.08% | -0.07% |
| JIO Financial Services Ltd. | -0.46% | -0.40% | +0.07% |
| Canara Bank | -5.58% | -5.51% | +0.07% |
| GAIL (India) Ltd. | -0.06% | 0.00% | +0.06% |
| Steel Authority Of India Ltd. | -0.38% | -0.44% | -0.06% |
| RBL Bank Ltd. | -0.06% | 0.00% | +0.06% |
| IDFC First Bank Ltd. | -2.19% | -2.13% | +0.06% |
| Bandhan Bank Ltd. | -0.73% | -0.68% | +0.05% |
| One97 Communications Ltd. | -0.20% | -0.25% | -0.05% |
| company:7684 | 0.00% | -0.04% | -0.04% |
| Glenmark Pharmaceuticals Ltd. | -0.46% | -0.50% | -0.04% |
| ICICI Bank Ltd. | -6.02% | -5.98% | +0.04% |
| Hindustan Petroleum Corporation Ltd. | -0.04% | 0.00% | +0.04% |
| Cipla Ltd. | -0.63% | -0.59% | +0.04% |
| Biocon Ltd. | -0.51% | -0.47% | +0.04% |
| Havells India Ltd. | 0.03% | 0.00% | -0.03% |
| Indian Bank | 1.78% | 1.74% | -0.03% |
| National Bank For Agriculture & Rural Development | 1.77% | 1.74% | -0.03% |
| Small Industries Devp. Bank of India Ltd. | 1.76% | 1.73% | -0.03% |
| Varun Beverages Ltd. | -0.32% | -0.28% | +0.03% |
| ITC Ltd. | -0.36% | -0.33% | +0.03% |
| Grasim Industries Ltd. | -0.78% | -0.81% | -0.03% |
| Bharat Electronics Ltd. | -1.97% | -2.00% | -0.03% |
| Coal India Ltd. | -0.42% | -0.39% | +0.03% |
| Tata Power Company Ltd. | -0.23% | -0.21% | +0.02% |
| Crompton Greaves Consumer Electricals Ltd. | -0.19% | -0.17% | +0.02% |
| Inox Wind Ltd. | -0.12% | -0.09% | +0.02% |
| Dabur India Ltd. | -0.19% | -0.17% | +0.02% |
| Hindustan Aeronautics Ltd. | -1.00% | -1.01% | -0.02% |
| Oil And Natural Gas Corporation Ltd. | -0.22% | -0.21% | +0.01% |
| NMDC Ltd. | -1.72% | -1.70% | +0.01% |
| Punjab National Bank | -1.10% | -1.09% | +0.01% |
| Eicher Motors Ltd. | -1.54% | -1.55% | -0.01% |
| company:8372 | 0.00% | -0.01% | -0.01% |
| Aditya Birla Capital Ltd. | -0.35% | -0.34% | +0.01% |
| Divi's Laboratories Ltd. | -0.07% | -0.08% | -0.01% |
| PNB Housing Finance Ltd. | -0.10% | -0.11% | -0.01% |
| LIC Housing Finance Ltd. | -0.33% | -0.33% | -0.01% |
| Reserve Bank of India | 0.36% | 0.35% | -0.01% |
| Hindalco Industries Ltd. | -0.30% | -0.31% | -0.01% |
| company:3988 | 0.00% | -0.01% | -0.01% |
| Godrej Properties Ltd. | -0.09% | -0.08% | +0.01% |
| Tata Motors Passenger Vehicles Ltd. | -0.06% | -0.06% | -0.01% |
| SBI Life Insurance Company Ltd. | -0.02% | -0.01% | 0.00% |
| Hindustan Unilever Ltd. | -0.06% | -0.05% | 0.00% |
| JSW Steel Ltd. | -0.27% | -0.28% | 0.00% |
| Asian Paints Ltd. | -0.04% | -0.03% | 0.00% |
| Indian Oil Corporation Ltd. | -0.05% | -0.05% | 0.00% |
| Yes Bank Ltd. | -0.06% | -0.05% | 0.00% |
| Power Grid Corporation Of India Ltd. | -0.03% | -0.02% | 0.00% |
| Tata Consumer Products Ltd. | -0.06% | -0.06% | 0.00% |
| TVS Motor Company Ltd. | -0.01% | -0.01% | 0.00% |
| AU Small Finance Bank Ltd. | -0.02% | -0.02% | 0.00% |
| HDFC Life Insurance Co Ltd. | -0.00% | -0.00% | 0.00% |
| Cholamandalam Investment and Finance Company Ltd. | -0.00% | -0.00% | 0.00% |
| Larsen & Toubro Ltd. | -0.08% | -0.08% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹41,186 Cr | 2.40% | 6.0% | 6.4% | 6.6% |
| ₹75,712 Cr | 2.92% | 6.0% | 6.4% | 6.6% | |
| ₹47,283 Cr | 1.98% | 5.8% | 6.3% | 6.5% | |
| ₹30,618 Cr | 2.91% | 6.0% | 6.4% | 6.6% | |
| ₹11,132 Cr | 1.80% | 5.9% | 6.4% | 6.5% |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and by investing the balance in debt and money market instruments.
Fund managers
- Aishwarya DharMBA - FinancePrior to joining the PPFAS MF, she was associated with TATA AIA Life Insurance Co. Ltd, ManipalCigna Health Insurance Co. Ltd,
- Raj MehtaMr. Mehta is a Commerce Graduate from University of Mumbai (N.M. College) ; Fellow Member of Institute of Chartered Accountants of India (ICAI) ; CFA Charter Holder.Beginning his career as an intern with PPFAS Mutual Fund in 2012, he swiftly moved up the ranks, and is currently part of the Fund Management team.
- Rajeev ThakkarMr.Thakkar is a Chartered Accountant, Cost Accountant, CFA, and CFP.He has been associated with PPFAS AMC since 2013.
- Raunak OnkarMr.Onkar is an MMS (Finance) from the University of Mumbai.He joined PPFAS as a research analyst. He was appointed as Head- research in the year 2011. He is working with the company as an Associate Fund Manager.
- Rukun TarachandaniMr. Tarachandani has done B Tech (Information Technology), PGPM (Finance), CFA and CQF.Prior to joining PPFAS Mutual Fund, he has worked with Kotak Mutual Fund, Goldman Sachs, Unnati Investment Management & Research Group.
- Tejas SomanMr. Soman has done B.Com from University of Mumbai and Post Graduate Program in Securities Markets - From ‘NISM’Prior to joining PPFAS Mutual Fund, he was associated with SBI MF, Yes Bank Limited, STCI Primary Dealership and PricewaterhouseCoopers
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months2.80% absolute | ₹60,000 | ₹61,680 | 2.80% | |
| 1 year6.05% annualised | ₹1,20,000 | ₹1,24,006 | 3.34% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.