Two funds walk into a table. Only the numbers talk.
ICICI Prudential Arbitrage Fund vs Invesco India Arbitrage Fund
Pick two or three funds. We’ll tell you in plain words which grew faster, which was calmer, which costs less and what your money would have become. Figures are for the Direct plan, Growth option, where a fund has one.
- AICICI Prudential Arbitrage Fund
ICICI Prudential Mutual Fund- Arbitrage Fund
- Direct plan
- Low Risk
NAV ₹40.09 on 13 Nov 2026
- BInvesco India Arbitrage Fund
Invesco Mutual Fund- Arbitrage Fund
- Direct plan
- Low Risk
NAV ₹37.72 on 13 Nov 2026
The short version
Who comes out ahead on each measure, over the 10 years all of them have been around.
Grew faster
BInvesco India Arbitrage Fund
Invesco India Arbitrage Fund returned 6.5% a year over 10 years, against 6.3% for ICICI Prudential Arbitrage Fund. ₹1 lakh invested 10 years ago would be about ₹1.87 Lakh today, against ₹1.85 Lakh.
Costs less
AICICI Prudential Arbitrage Fund
ICICI Prudential Arbitrage Fund charges 1.63% a year, against 2.25% for Invesco India Arbitrage Fund. On ₹1 lakh that's ₹1,630 a year against ₹2,250, taken quietly from the NAV.
What your money would have become
The same amount, put into each fund on the same day.
The dashed line is the ₹10,000 you put in. Above it is profit, below it is loss.
- AICICI Prudential Arbitrage Fund₹13,871 from ₹10,000(6.8% a year)
- BInvesco India Arbitrage Fund₹14,120 from ₹10,000(7.2% a year)
A one-time ₹10,000 put in 5 years ago, valued at the latest NAV. This is what happened, not what will.
Strengths and watch-outs
Each fund judged against its own category, and against a 5-year SBI FD at 6.05%.
AICICI Prudential Arbitrage Fund
- Strength: Swings less than most funds in its category
- Watch out: Fell harder than its category in the worst crash
- Watch out: High cost: 1.63% a year
BInvesco India Arbitrage Fund
- Strength: In the top quarter of its category over 5 years (#1 of 20)
- Strength: Beat a 5-year SBI FD: 7.2% a year over 5 years, against 6.05%
- Strength: Swings less than most funds in its category
- Watch out: High cost: 2.25% a year
All the numbers
The stronger figure in each row is marked Best. Under each return is the fund’s rank in its category and the category average.
| Measure | AICICI Prudential Arbitrage Fund | BInvesco India Arbitrage Fund |
|---|---|---|
| ReturnsHow much the fund grew. Beyond a year, this is per year (annualised). | ||
| 1 yearLast 12 months, the most noisy figure | 6.6%#17 of 33 · avg 6.6% | 6.8%Best#5 of 33 · avg 6.6% |
| 3 yearsPer year, over a full market mood swing | 7.3%#10 of 26 · avg 7.2% | 7.4%Best#1 of 26 · avg 7.2% |
| 5 yearsPer year, the fairest single test | 6.8%#11 of 20 · avg 6.7% | 7.2%Best#1 of 20 · avg 6.7% |
| 10 yearsPer year, across bull and bear markets | 6.3%#7 of 12 · avg 6.3% | 6.5%Best#3 of 12 · avg 6.3% |
| RiskHow bumpy the ride was. This is what decides whether you stay invested. | ||
| Ups and downsVolatility: how far it swings in a typical year. Lower is calmer | 1.1%category avg 1.3% | 1.1%Bestcategory avg 1.3% |
| Worst fallThe biggest drop from a peak in 10 years. Lower is better | −0.6%category avg −0.5% | −0.5%Bestcategory avg −0.5% |
| Best 12 monthsIts strongest year | 8.7% | 8.9%Best |
| Worst 12 monthsIts weakest year | 3.4% | 3.6%Best |
| Odds of a gainShare of all 1-year holding periods that ended in profit | 100% | 100% |
| Cost and sizeThe fee comes out of your returns every year, whether the fund does well or not. | ||
| Expense ratioYearly fee. Lower keeps more for you | 1.63%Best | 2.25% |
| Fund sizeMoney managed (AUM). Neither better nor worse | ₹35,576 Cr | ₹30,396 Cr |
| Minimum SIPSmallest monthly amount | ₹500 | ₹500 |
| Lock-inTime before you can withdraw | None | None |
| What it holdsWhere the money sits. Equity is shares, debt is bonds, cash is waiting to be invested. | ||
| In sharesEquity | 71.1% | – |
| In bondsDebt | 10.9% | – |
| In cashNot yet invested | 2.6% | – |
| HoldingsNumber of investments | 183 | – |
“Best” is not a recommendation: a fund that returned more usually took more risk to do it.
Top 10 holdings
Marked Both where another fund here holds it too.
AICICI Prudential Arbitrage Fund
- ICICI Prudential Money Market Fund - Direct Plan - Growth15.4%
- Bharti Airtel Ltd4.3%
- Reliance Industries Ltd3.6%
- Vodafone Idea Ltd3.3%
- Axis Bank Ltd3.1%
- HDFC Bank Ltd2.4%
- Union Bank Of India **1.8%
- Bharat Electronics Ltd1.8%
- State Bank Of India1.8%
- Kotak Mahindra Bank Ltd1.7%
As on 31 Jul 2026
BInvesco India Arbitrage Fund
Holdings are not available for this fund yet.
Which one fits you?
There is no best fund, only a better fit for what you need the money to do.
AICICI Prudential Arbitrage Fund
Might suit you if…
- you care about keeping costs low, which adds up over decades
BInvesco India Arbitrage Fund
Might suit you if…
- you want the stronger long-run growth and can sit through sharper falls