Summary Info Fund Name : HDFC Mutual Fund Scheme Name : HDFC Arbitrage Fund - WP - Direct (IDCW-M) AMC : HDFC Mutual Fund Type : Open Category : Arbitrage Funds Launch Date : 28-Mar-2014 Fund Manager : Arun Agarwal Net Assets:(Rs cr) 25407.18

NAV Details

NAV Date : 16-Oct-2026 NAV [Rs]: 11.37 Buy/Resale Price [Rs] : 0.00 Sell/Repurchase Price [Rs] : 0.00 Entry Load % : NIL Exit Load % : In respect of each purchase / switch-in of Units, an Exit load of 0.25% is payable if Units are redeemed / switched-out within 15 days from the date of allotment of units. No Exit Load is payable if Units are redeemed/switched-out after 15 days from the date of allotment.

NAV Chart

1 Week 1 Month 3 Months 6 Months 1 Year 3 Years 5 Years Since Inception

Latest Payouts

Dividends Bonus Ratio 0.5 % NA Date 21-Oct-2026 NA

Investment Details
Tax benefits :	NA
Min. Investment(Rs) :	100
Increm.Investment(Rs) :	100

Performance(%)	Date : 16-Oct-2026
1 Week 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year Since Inception Scheme Return 0.21 0.64 1.67 3.18 6.67 7.29 6.73 6.25 Category Avg 0.20 0.60 1.54 2.96 6.27 6.84 6.29 5.74 Category Best 0.37 0.72 1.80 3.63 7.57 7.60 7.13 7.40 Category Worst 0.10 0.46 0.84 1.79 3.85 5.59 5.04 0.12

Asset Allocation

Bar Chart Pie Chart 3D Bar Chart 3D Pie Chart

Sector Allocation

Bar Chart Pie Chart 3D Bar Chart 3D Pie Chart

Holdings

30-Sep-2026

Company Name Sector Market Value No. Of Shares Hold     Rs Cr.   % HDFC Bank Banks 1280.85 18073250 5.04 ICICI Bank Banks 1280.00 9684500 5.04 Reliance Industr Refineries 861.29 7256000 3.39 Bharti Airtel Telecom-Service 839.75 4779450 3.31 Axis Bank Banks 728.40 5941250 2.87 JSW Steel Steel 590.45 4710825 2.32 SBI Banks 585.20 6099000 2.30 Bajaj Finance Finance 456.48 4758000 1.80 Tata Steel Steel 393.70 21362000 1.55 Canara Bank Banks 386.10 32325750 1.52 Kotak Mah. Bank Banks 366.46 8788000 1.44 Hind. Unilever FMCG 363.55 1934700 1.43 Punjab Natl.Bank Banks 323.89 28648000 1.27 Divi's Lab. Pharmaceuticals 320.28 344700 1.26 TVS Motor Co. Automobile 279.16 679875 1.10 Vodafone Idea Telecom-Service 262.78 202917525 1.03 IDFC First Bank Banks 241.79 29689275 0.95 Coal India Mining & Mineral products 221.41 5209650 0.87 Indus Towers Telecom Equipment & Infra Services 205.69 5511400 0.81 NTPC Power Generation & Distribution 187.36 5805000 0.74 Bank of Baroda Banks 188.15 8160750 0.74 Hindalco Inds. Non Ferrous Metals 186.18 1976800 0.73 NMDC Mining & Mineral products 171.06 22349250 0.67 Cholaman.Inv.&Fn Finance 157.34 971250 0.62 Interglobe Aviat Air Transport Service 157.00 315000 0.62 S A I L Steel 152.69 8413000 0.60 ITC FMCG 150.39 5723550 0.59 Apollo Hospitals Healthcare 148.71 182125 0.59 Eicher Motors Automobile 146.65 205100 0.58 Infosys IT - Software 145.93 1468000 0.57 Marico FMCG 143.84 1830000 0.57 Varun Beverages FMCG 142.38 3295875 0.56 Larsen & Toubro Infrastructure Developers & Operators 137.59 365925 0.54 Tata Consumer FMCG 125.65 1323300 0.49 Adani Enterp. Trading 124.35 428274 0.49 LIC Housing Fin. Finance 122.53 2311000 0.48 I O C L Refineries 121.76 9023625 0.48 Glenmark Pharma. Pharmaceuticals 115.74 495750 0.46 B H E L Capital Goods - Electrical Equipment 117.90 2837625 0.46 Bharat Electron Aerospace & Defence 116.53 3001050 0.46 Ambuja Cements Cement 111.12 2971200 0.44 Multi Comm. Exc. Financial Services 111.54 337950 0.44 M & M Automobile 108.50 367800 0.43 Maruti Suzuki Automobile 107.88 90150 0.42 Power Fin.Corpn. Finance 103.93 3192800 0.41 Life Insurance Insurance 102.19 2585800 0.40 Kalyan Jewellers Diamond, Gems and Jewellery 98.65 1783350 0.39 HDFC Life Insur. Insurance 95.34 1829300 0.38 Info Edg.(India) E-Commerce/App based Aggregator 94.37 773850 0.37 Biocon Pharmaceuticals 93.69 2530000 0.37 Tata Motors PVeh Automobile 90.40 3188800 0.36 Bharat Forge Castings, Forgings & Fasteners 89.75 466000 0.35 Aditya Birla Cap Finance 82.83 2176200 0.33 H P C L Refineries 80.45 2296350 0.32 Jio Financial Finance 79.10 3647200 0.31 Tata Power Co. Power Generation & Distribution 75.06 2090900 0.30 Ashok Leyland Automobile 74.09 4805000 0.29 Cummins India Capital Goods-Non Electrical Equipment 72.54 152400 0.29 Yes Bank Banks 74.86 35733900 0.29 Hind.Aeronautics Aerospace & Defence 72.68 155700 0.29 Asian Paints Paints/Varnish 72.32 301000 0.28 GE Vernova T&D Capital Goods - Electrical Equipment 67.69 161125 0.27 Indian Hotels Co Hotels & Restaurants 68.27 937000 0.27 Bank of India Banks 65.63 5038800 0.26 Godrej Propert. Realty 66.21 406575 0.26 Indian Energy Ex Financial Services 65.86 6155250 0.26 Titan Company Diamond, Gems and Jewellery 62.21 135625 0.24 B P C L Refineries 57.37 1892050 0.23 Pidilite Inds. Chemicals 59.12 403500 0.23 Adani Power Power Generation & Distribution 57.65 2825800 0.23 Coforge IT - Software 59.24 338675 0.23 APL Apollo Tubes Capital Goods-Non Electrical Equipment 59.25 270550 0.23 UltraTech Cem. Cement 52.70 48100 0.21 Voltas Consumer Durables 52.92 494625 0.21 Grasim Inds Textiles 47.46 155000 0.19 C D S L Financial Services 47.49 375725 0.19 Adani Energy Sol Power Generation & Distribution 47.92 364500 0.19 Adani Green Power Generation & Distribution 46.16 361200 0.18 Bajaj Auto Automobile 45.26 41625 0.18 Alkem Lab Pharmaceuticals 44.86 86875 0.18 Aurobindo Pharma Pharmaceuticals 42.39 253550 0.17 Eternal E-Commerce/App based Aggregator 43.22 1350725 0.17 Inox Wind Capital Goods - Electrical Equipment 40.79 5868800 0.16 Torrent Pharma. Pharmaceuticals 40.74 84875 0.16 UPL Agro Chemicals 40.30 746605 0.16 Lupin Pharmaceuticals 39.00 192100 0.15 Bajaj Finserv Finance 37.55 216900 0.15 Samvardh. Mothe. Auto Ancillaries 35.74 2189400 0.14 Radico Khaitan Alcoholic Beverages 33.73 77250 0.13 Cipla Pharmaceuticals 32.44 240975 0.13 Patanjali Foods FMCG 34.03 937400 0.13 Bandhan Bank Banks 33.36 1872000 0.13 Federal Bank Banks 28.25 890000 0.11 IndusInd Bank Banks 24.61 273000 0.10 One 97 E-Commerce/App based Aggregator 25.18 150075 0.10 Delhivery Logistics 22.78 556100 0.09 Tube Investments Capital Goods-Non Electrical Equipment 20.47 86200 0.08 PG Electroplast Consumer Durables 20.58 417050 0.08 PNB Housing Finance 21.48 191750 0.08 Shriram Finance Finance 19.70 200475 0.08 Max Financial Finance 20.93 152400 0.08 Supreme Inds. Plastic products 16.55 47950 0.07 Sun Pharma.Inds. Pharmaceuticals 17.36 95550 0.07 JSW Energy Power Generation & Distribution 18.24 368725 0.07 Fortis Health. Healthcare 17.31 224750 0.07 Union Bank (I) Banks 17.63 1031025 0.07 O N G C Crude Oil & Natural Gas 17.17 760500 0.07 GAIL (India) Gas Distribution 18.16 1065000 0.07 DLF Realty 17.48 259350 0.07 Avenue Super. Retail 17.22 45300 0.07 AU Small Finance Banks 16.37 162000 0.06 SBI Life Insuran Insurance 15.20 89625 0.06 Solar Industries Aerospace & Defence 15.17 7700 0.06 Muthoot Finance Finance 12.12 44275 0.05 Jindal Steel Steel 13.69 120625 0.05 United Spirits Alcoholic Beverages 13.22 97600 0.05 Mphasis IT - Software 11.43 53075 0.05 Natl. Aluminium Non Ferrous Metals 12.66 371250 0.05 CG Power & Ind Capital Goods - Electrical Equipment 12.56 147050 0.05 Cams Services Financial Services 13.84 206250 0.05 Sagility IT - Software 11.65 2736000 0.05 Swiggy E-Commerce/App based Aggregator 9.77 390550 0.04 Amber Enterp. Consumer Durables 8.94 13400 0.04 Trent Retail 9.79 37350 0.04 TCS IT - Software 10.52 51300 0.04 Container Corpn. Logistics 9.96 222500 0.04 GMR Airports Miscellaneous 9.29 976500 0.04 NBCC Miscellaneous 6.68 851500 0.03 BSE Financial Services 7.73 25000 0.03 HCL Technologies IT - Software 7.48 60800 0.03 Dabur India FMCG 7.08 186250 0.03 Nestle India FMCG 7.66 58500 0.03 Britannia Inds. FMCG 7.85 16250 0.03 SRF Chemicals 8.11 32800 0.03 Oil India Crude Oil & Natural Gas 5.21 116200 0.02 Hindustan Zinc Non Ferrous Metals 5.27 93100 0.02 Manappuram Fin. Finance 5.50 174000 0.02 Page Industries Readymade Garments/Apparels 4.51 1240 0.02 Suzlon Energy Capital Goods - Electrical Equipment 5.32 1346200 0.02 Crompton Gr. Con Consumer Durables 4.53 217150 0.02 PB Fintech. E-Commerce/App based Aggregator 4.06 38150 0.02 Laurus Labs Pharmaceuticals 2.69 13600 0.01 Angel One Stock/ Commodity Brokers 2.12 77500 0.01 Hitachi Energy Capital Goods - Electrical Equipment 2.76 900 0.01 Adani Ports Marine Port & Services 3.08 17100 0.01 Zydus Lifesci. Pharmaceuticals 1.78 15300 0.01 Astral Plastic products 2.56 18700 0.01 Motil.Oswal.Fin. Stock/ Commodity Brokers 1.39 13950 0.01 Polycab India Cables 1.30 1625 0.01 RBL Bank Banks 1.28 31750 0.01 Power Grid Corpn Power Generation & Distribution 2.43 93100 0.01 Colgate-Palmoliv FMCG 1.36 7700 0.01 Vedanta Non Ferrous Metals 1.10 42550 0.00 ICICI Pru Life Insurance 1.07 24050 0.00 A B B Capital Goods - Electrical Equipment 0.85 1250 0.00 FSN E-Commerce E-Commerce/App based Aggregator 0.60 18750 0.00 Bajaj Holdings Finance 0.49 450 0.00 Lodha Developers Realty 0.43 3750 0.00 Bank of Maha Banks 0.21 26000 0.00 Phoenix Mills Realty 0.20 1050 0.00 Bosch Auto Ancillaries 0.12 25 0.00 Cochin Shipyard Aerospace & Defence 0.11 800 0.00 TREPS Debt Others 1661.30 0 6.54 Net CA & Others Debt Others -363.37 0 -1.49 HDFC Money Market Fund - Direct (G) Mutual Fund Units 2320.96 3671341 9.14 HDFC Liquid Fund - Direct (G) Mutual Fund Units 953.58 1704922 3.75 HDFC Ultra Short Term Fund - Direct (G) Mutual Fund Units 725.15 433124146 2.85 HDFC Ultra Short to Short Term Fund - Direct (G) Mutual Fund Units 670.71 99102908 2.64 Union Bank (I) Debt Others 1195.28 24500 4.71 I O B Debt Others 389.23 8000 1.53 Punjab Natl.Bank Debt Others 243.56 5000 0.96 S I D B I Debt Others 220.01 4500 0.87 Canara Bank Debt Others 72.94 1500 0.29 ICICI Bank Debt Others 73.20 1500 0.29 Kotak Mah. Bank Debt Others 73.21 1500 0.29 E X I M Bank Debt Others 24.46 500 0.10

Statistical Ratios

What is Beta ? Beta is a measure of the volatility of the portfolio to that of the index. In simple words it shows the movement of the portfolio in comparison. The Higher the Beta, higher the volatility of the scheme to the index. If its greater than1 , then the portfolio is highly volatile to the movemnts in the index. If the beta is lesser than 1 , then scheme is less volatile to the index and beta which is close to 1 implies that the scheme is closely following the index. Beta [%]* SD [%]* Sharpe Ratio [%]* Jensons Alpha [%]* ER [%]* 0.6617 0.1392 3.9724 0.5578 -1.8792