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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

Nippon India ArbitrageICICI Prudential Arbitrage
Nippon India Arbitrage
itself
50%
ICICI Prudential Arbitrage
50%
itself

Most alike: Nippon India Arbitrage Fund and ICICI Prudential Arbitrage Fund share 50% of their portfolios. Holding both is closer to holding one twice than to diversifying.

Side by side

record, cost, returns, drawdown, size

MeasureNippon India ArbitrageICICI Prudential Arbitrage
CategoryArbitrageArbitrage
Share of three-year stretches it beat its category P4100% of 109100% of 109
Regular plan costs more than Direct by, a year P50.70%0.60%
Portfolio turned over a year P1118%128%
Run by P7Rohit Hashmukh Shah · 2.3 yrsNikhil Kabra · 5.8 yrs
1-year return6.8%6.7%
3 years p.a.7.3%7.3%
5 years p.a.6.8%6.7%
Deepest fall (max drawdown)−0.4%−0.4%
Assets (AUM)₹16,560 Cr₹34,536 Cr
Disclosed history14 yrs10 yrs
Holdings · top ten weight184 · 45%205 · 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.