BANDHAN Arbitrage Fund
NAV
₹38
as of 6 Oct 2026
BANDHAN Arbitrage Fund is an open-ended Arbitrage Fund scheme from Bandhan Mutual Fund managing ₹8,011 crore (as of 31 Jul 2026). Its Direct-plan NAV is ₹38 as of 6 Oct 2026. The expense ratio is 1.67% a year. Managed by Harshal Joshi. This page is factual data only – it carries no rating and no recommendation.
Key facts
- Expense ratio
- 1.67% / yr
- as of 31 Aug 2026
- Fund size
- ₹8,011 crore
- as of 31 Jul 2026
- Exit load
- 0.25%
- SIP available
- Yes
- Launched
- 21 Dec 2006
- ISIN
- INF194K01Y60
₹100 invested, fund vs category
The category line is the average of the funds in this category, built from nyvo’s own NAV data.
Rebased to 100data to 5 Oct 2026Benchmark: NIFTY 50 Arbitrage Index
BANDHAN Arbitrage Fund
₹139
+39% on ₹100 over 5.0 yrs
Arbitrage Fund average
₹133
+33% on ₹100 over 5.0 yrs
Returns vs category
| Window | Fund | Category avg | Gap |
|---|---|---|---|
| 3 months | 1.46% | 1.56% | -0.10 |
| 6 months | 3.16% | 3.26% | -0.10 |
| 1 year | 6.56% | 6.72% | -0.16 |
| 3 years (CAGR) | 7.31% | 7.27% | +0.04 |
| 5 years (CAGR) | 6.78% | 6.72% | +0.06 |
Category average across 33 funds, as of 5 Oct 2026. Short windows are noise; the 3 and 5-year rows are the record. Past returns do not predict future returns.
A single return number depends on its start date. These are ALL the overlapping holding periods, so the worst case is visible – read that number first.
1-year holding periods
- Worst
- 4.3%
- Median
- 7.3%
- Best
- 8.5%
49 windows over the last 60 months, stepped monthly; 100% ended positive. Worst window began 1 Oct 2021. Windows overlap – this is the range of past start dates, not a probability of anything.
3-year holding periods (per year)
- Worst
- 6.6%
- Median
- 7.5%
- Best
- 7.8%
25 windows over the last 60 months, stepped monthly; 100% ended positive. Worst window began 1 Oct 2021. Windows overlap – this is the range of past start dates, not a probability of anything.
Risk, measured
- Sharpe ratio (3Y)
- 2.00
- Sharpe ratio (5Y)
- 1.35
- Sortino ratio (3Y)
- 3.86 vs category 1.76
- Standard deviation (3Y)
- 0.53%
Where the money actually is
Equity
0.2%
Bonds
9.7%
Cash
90.5%
Other
-0.4%
Whole-portfolio split, as of 31 Jul 2026. Equity here is the NET position: this fund holds shares and sells futures against them, so the two largely cancel. The holdings below are gross, before that offset.
What it owns
363 positions · top 10 = 18.4%
Market-cap mix (equity sleeve)
Large 45.6%Mid 14.2%Small 4.0%Other 36.2%
as of 31 Jul 2026
Holdings by sector
Financial Services(3 in top 10)27.3%
- HDFC Bank Ltd2.62%
- Kotak Mahindra Bank Ltd2.51%
- Axis Bank Ltd2.37%
- Basic Materials7.8%
- Industrials7.3%
- Energy5.3%
Communication Services(1 in top 10)5.2%
- Vodafone Idea Ltd2.70%
- Consumer Cyclical4.6%
- Healthcare3.9%
- Consumer Defensive3.6%
Sectors marked ▶ expand to show this fund’s top-10 holdings in that sector. Holdings as of 31 Jul 2026. Portfolio turnover 255.3% vs category 293.4% a year.
Other top holdings
- Future on BANK Indexderivative13.74%
- Bandhan Money Market Dir Gr12.93%
- Bandhan Low Duration Dir Gr10.76%
- Bandhan Ultra Short Dur Dir Gr3.48%
- Vodafone Idea Limited August 2026 Futurederivative2.71%
- Future on Cenergy Holdings SAderivative2.50%
Rows marked derivative are futures positions held against the shares listed beside them. A stock and its future largely cancel, so do not add the two together. Exposure figures are gross: funds that use derivatives (arbitrage, hedged books) hold offsetting positions, so concentration and turnover can read above 100%.
Money in, money out
- Net flow, 12 months
- −₹1,337 cr
- Net flow, 3 months
- −₹5 cr
as of 31 Jul 2026. Flows follow performance more than they predict it.
Quick answers
- What is the NAV of BANDHAN Arbitrage Fund?
- ₹38 per unit as of 6 Oct 2026 (Direct plan, growth). NAV is declared daily on working days.
- What is the expense ratio of BANDHAN Arbitrage Fund?
- 1.67% a year for the Direct plan, as of 31 Aug 2026.
- How large is BANDHAN Arbitrage Fund?
- ₹8,011 crore under management as of 31 Jul 2026, in the Arbitrage Fund category.
- How risky is BANDHAN Arbitrage Fund?
- Its SEBI Riskometer reading is "Low Risk". Cash-and-futures spreads. Debt-like behaviour, equity taxation.
- What are the 5-year returns of BANDHAN Arbitrage Fund?
- 6.78% a year over the last 5 years (Direct plan, CAGR), against a Arbitrage Fund average of 6.72%. Past returns do not predict future returns.
- What is the worst 3-year return of BANDHAN Arbitrage Fund?
- 6.6% a year – the weakest of 25 overlapping 3-year holding periods, beginning 1 Oct 2021. The median was 7.5% and 100% of those windows ended positive. Windows overlap, so this is the range of past start dates, not a probability.
- Who manages BANDHAN Arbitrage Fund?
- Harshal Joshi, managing this fund for 9.9 years.
Where this fund sits
Its shelf, all funds
Ar · Arbitrage →
Cash-and-futures spreads. Debt-like behaviour, equity taxation.
The money map
How big this shelf is in India →
The whole industry sized by real money, from AMFI’s monthly data.
Side by side
Compare this fund →
Put it next to any other fund – growth, returns, risk and cost in one table.
One bet or two?
Check its overlap →
See whether it owns the same stocks as your other funds.
Other Arbitrage Fund funds
Data: nyvo research systems; each block above states its own as-of date, and blocks with no data for this fund are omitted rather than estimated. NAV updates daily on working days. The benchmark (NIFTY 50 Arbitrage Index) is named for reference only; its values are licensed and never shown. This page is factual information about one scheme. It is not investment advice, not a recommendation, and it carries no rating of any kind. Past performance does not predict future returns. Mutual fund investments are subject to market risks; read all scheme related documents carefully.