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Up to six funds side by side, and how much of each is the same portfolio as the others. Overlap is Σ min(weight) over the stocks both hold, from the latest disclosures.

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Overlap

share of the portfolio the two funds hold in common

HDFC ArbitrageSBI Arbitrage
HDFC Arbitrage
itself
57%
SBI Arbitrage
57%
itself

Most alike: HDFC Arbitrage Fund and SBI Arbitrage Fund share 57% of their portfolios. Holding both is closer to holding one twice than to diversifying.

Side by side

record, cost, returns, drawdown, size

MeasureHDFC ArbitrageSBI Arbitrage
CategoryArbitrageArbitrage
Share of three-year stretches it beat its category P428% of 10938% of 109
Regular plan costs more than Direct by, a year P50.53%not measured
Portfolio turned over a year P1117%98%
Run by P7not knownArdhendu Bhattacharya · ≥ 3 mo
1-year return6.7%6.5%
3 years p.a.7.3%7.3%
5 years p.a.6.7%6.9%
Deepest fall (max drawdown)−0.5%−0.5%
Assets (AUM)₹25,229 Cr₹38,447 Cr
Disclosed history2.4 yrs5.8 yrs
Holdings · top ten weight191 · 39%208 · 41%

Funds in different categories are not comparable on returns — a category error is the first thing the postulates refuse to make. Compare each to its own category on its fund page.