COMPARE
Aditya Birla Sun Life Arbitrage Fund - Growth - Direct Plan vs NJ Arbitrage Fund - Direct Plan - Growth Option
Aditya Birla Sun Life Arbitrage Fund and NJ Arbitrage Fund are both in the Arbitrage Fund category, from Aditya Birla Sun Life AMC Limited and NJ Asset Management Private Limited respectively. NJ Arbitrage Fund has posted a higher 3-year rolling CAGR. NJ Arbitrage Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
NJ Arbitrage Fund has the lower direct-plan expense ratio, by 0.17 percentage points.
| Aditya Birla Sun Life Arbitrage Fund - Growth - Direct Plan | NJ Arbitrage Fund - Direct Plan - Growth Option | |
|---|---|---|
| Category | Arbitrage Fund | Arbitrage Fund |
| AMC | Aditya Birla Sun Life AMC Limited | NJ Asset Management Private Limited |
| Benchmark | Nifty 50 Arbitrage | Nifty 50 Arbitrage |
| NAV | ₹31.1478 (2026-10-28) | ₹13.2354 (2026-10-28) |
| AUM | ₹27,505.56 Cr | ₹240.39 Cr |
| Expense Ratio (Direct) | 1.24% | 1.07% |
| Inception | 2009-07-14 | 2022-07-29 |
Returns
NJ Arbitrage Fund leads on 3-year rolling CAGR (7.1% vs Aditya Birla Sun Life Arbitrage Fund's 6.7%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Arbitrage funds target a small, steady spread rather than market returns, so beta and alpha against an equity index describe nothing useful.
Portfolio Analytics
Aditya Birla Sun Life Arbitrage Fund carries the higher portfolio YTM.
| Aditya Birla Sun Life Arbitrage Fund - Growth - Direct Plan | NJ Arbitrage Fund - Direct Plan - Growth Option | |
|---|---|---|
| P/E Ratio | 17.0284 | 15.4531 |
| P/B Ratio | 7.8176 | - |
| Dividend Yield | 1.3307% | 1.1624% |
| Active Share | - | - |
| Portfolio Turnover | 1044% | 94.8% |
| YTM | 6.93% | 5.394% |
| Duration (Macaulay) | 0.51 yrs | 0.19 yrs |
Punji Fund Health Score
Aditya Birla Sun Life Arbitrage Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Aditya Birla Sun Life Arbitrage Fund or NJ Arbitrage Fund?
NJ Arbitrage Fund's 3-year rolling CAGR of 7.1% is higher than Aditya Birla Sun Life Arbitrage Fund's 6.7%. NJ Arbitrage Fund sits in the 88th percentile of its category on this metric, versus the 54th percentile for Aditya Birla Sun Life Arbitrage Fund - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, Aditya Birla Sun Life Arbitrage Fund or NJ Arbitrage Fund?
NJ Arbitrage Fund's direct-plan expense ratio is 0.17 percentage points lower than Aditya Birla Sun Life Arbitrage Fund's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Why don't Aditya Birla Sun Life Arbitrage Fund and NJ Arbitrage Fund show risk metrics like Sharpe ratio or alpha?
Arbitrage funds target a small, steady spread rather than market returns, so beta and alpha against an equity index describe nothing useful. This is a deliberate methodology choice, not missing data - risk metrics like alpha and Sharpe ratio are most meaningful for actively-managed funds where a manager makes decisions that can add or subtract value versus a benchmark. For a fund that mechanically tracks an index, the equivalent useful metric is tracking error (how closely it follows its index), not alpha.
Which has higher AUM, Aditya Birla Sun Life Arbitrage Fund or NJ Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund has ₹27,506 Cr in assets under management, versus ₹240 Cr for NJ Arbitrage Fund. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which has a higher yield to maturity (YTM), Aditya Birla Sun Life Arbitrage Fund or NJ Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund's portfolio YTM (6.93%) is higher than NJ Arbitrage Fund's. YTM is the weighted-average return a debt fund's current bond holdings would earn if held to maturity, assuming no defaults and coupons reinvested at the same rate - a useful forward-looking yield estimate for debt funds the way rolling CAGR is for equity funds, though it's an estimate based on today's portfolio, not a guaranteed return, and can move as bonds are bought/sold or as interest rates change.
Which has longer duration (more interest-rate sensitivity), Aditya Birla Sun Life Arbitrage Fund or NJ Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund has the longer Macaulay duration of the two, meaning its NAV is more sensitive to interest-rate changes - a longer-duration debt fund tends to gain more when rates fall and lose more when rates rise, compared to a shorter-duration fund. Duration is expressed in years but isn't literally about how long you hold the fund; it's a measure of price sensitivity to rate moves. If you expect rates to fall, the longer-duration fund benefits more; if you expect rates to rise or want to minimize that swing, the shorter-duration fund is the more conservative pick.
Which fund has a longer track record, Aditya Birla Sun Life Arbitrage Fund or NJ Arbitrage Fund?
Aditya Birla Sun Life Arbitrage Fund launched on 2009-07-14, making it older than NJ Arbitrage Fund (launched 2022-07-29). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.