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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

TRUSTMF ARBITRAGEADITYA BIRLA SUN LIFE ARBITRAGE
TRUSTMF ARBITRAGE
itself
35%
ADITYA BIRLA SUN LIFE ARBITRAGE
35%
itself

Most alike: TRUSTMF ARBITRAGE FUND and ADITYA BIRLA SUN LIFE ARBITRAGE FUND share 35% of their portfolios. Two funds this different are doing different things; whether that is what you want is a separate question.

Side by side

record, cost, returns, drawdown, size

MeasureTRUSTMF ARBITRAGEADITYA BIRLA SUN LIFE ARBITRAGE
CategoryArbitrageArbitrage
Share of three-year stretches it beat its category P4not measured100% of 109
Regular plan costs more than Direct by, a year P50.81%0.68%
Portfolio turned over a year P1260%86%
Run by P7Mihir Vora · 1.1 yrsKrina Mehta · ≥ 6 mo
1-year return6.5%6.8%
3 years p.a.—7.5%
5 years p.a.—6.8%
Deepest fall (max drawdown)−0.4%−0.5%
Assets (AUM)₹145 Cr₹26,997 Cr
Disclosed history1.1 yrs8.3 yrs
Holdings · top ten weight62 · 58%208 · 35%

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.