Axis Income Plus Arbitrage Passive FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Axis Income Plus Arbitrage Passive FOF Direct Growth Plan has an NAV of ₹10.5331 as of 15 Sep 2026 and scheme AUM of ₹109 Cr. Its 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available, and the fund sits in the Balanced Risk category. Our view is that this is still an early-stage hybrid fund, so the main question is less about long history and more about whether its current structure and near-term behaviour suit a measured investor profile.
It has no exit load and a low expense ratio of 0.0%, while the portfolio is dominated by fund-of-fund exposure rather than direct stock or bond lines. That makes it more appropriate for investors who want a hybrid-style allocation with a relatively steady risk label, but who can also accept that there is not yet a longer public return track record to assess.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.5331 as of 15 Sep 2026 |
| AUM | ₹109 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 12 Nov 2025 |
| Min SIP | ₹100 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | No exit load |
| Fund Managers | Devang Shah, Aditya Pagaria, Hardik Satra |
The fund is managed by Devang Shah, Aditya Pagaria and Hardik Satra.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.47% | -4.41% |
| 3M | 1.71% | -3.6% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
In the near term, the fund has held up better than the benchmark. Over 1 month and 3 months, the fund’s returns stayed positive while the benchmark was negative, which points to a smoother short-run path than the equity index.
That short-term resilience matters because the portfolio is built around another mutual fund and an arbitrage fund, not a direct market-heavy equity basket. This kind of setup can mute day-to-day swings, although it also means the return path is shaped by the underlying funds rather than by a broad direct-market call from the scheme itself.
We do not yet have a long public 1-year, 3-year or 5-year return trail to judge compounding through a full cycle. For that reason, the recent numbers are the main guide today, and they suggest a steadier profile than the benchmark rather than a high-octane return pattern.
The benchmark contrast is also clear: the index has been weak over both the 1-month and 3-month windows, while this fund stayed slightly positive. That is a supportive sign for downside control in the short run, but it is not enough on its own to establish how the fund behaves across a full market cycle.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Axis Income Plus Arbitrage Passive FOF?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Axis Income Plus Arbitrage Passive FOF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Axis Income Plus Arbitrage Passive FOF Direct Growth Plan | Data not available | Data not available | Data not available |
| Quant Arbitrage Fund Direct Growth Plan | 7.61% | Data not available | Data not available |
| WOC Arbitrage Fund Direct Growth Plan | 7.17% | Data not available | Data not available |
| Franklin India Arbitrage Fund Direct Growth Plan | 7.03% | Data not available | Data not available |
| Motilal Oswal Arbitrage Fund Direct Growth Plan | 6.94% | Data not available | Data not available |
| Invesco India Arbitrage Fund Direct Growth Plan | 6.84% | 7.49% | 7.02% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the available return numbers, the fund trails the listed peer set on a 1-year basis because its 1-year figure is not yet available while the peer funds with data are all positive. In longer horizons, the picture is still incomplete for this fund, so the comparison leans more on the peer data than on this scheme’s own long-run record.
Among peers with longer history, Invesco India Arbitrage Fund Direct Growth Plan shows 7.49% over 3 years and 7.02% over 5 years, which gives a useful reference point for what a mature arbitrage-style fund can deliver. By contrast, this scheme does not yet offer comparable 3-year or 5-year figures, so its current story is much more about structure and early behaviour than about completed-cycle outcomes.
That creates two different messages. Short-term behaviour looks steadier than the benchmark, but peer comparison on 1-year performance is not yet complete enough to say this fund has matched the return delivery of the better-known arbitrage options.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Axis Crisil-Ibx Aaa Bond NBFC – Jun 2027 Index Fund – Direct Plan – Growth Option | Domestic Mutual Funds Units | 63.13% |
| Axis Arbitrage Fund Direct Plan Growth | Domestic Mutual Funds Units | 35.94% |
| Clearing Corporation of India Ltd | Cash & Cash Equivalents and Net Assets | 0.94% |
The largest holding is 63.13%, so the portfolio is heavily shaped by one underlying fund. That position alone is likely to have a greater influence on day-to-day movement than the smaller cash line, while the second holding at 35.94% also carries substantial weight.
The gap from the largest holding to the next is meaningful, but the overall spread is still very narrow because only three disclosed holdings are present. With the top three together accounting for 100% of the disclosed portfolio, the structure looks highly concentrated within a small set of underlying exposures.
That concentration is not the same as a single-stock risk story, because the two main positions are themselves mutual funds. Even so, the portfolio can still be sensitive to how those two underlying funds behave, and there is little room for smaller positions to change the overall profile.
Source data date: as of 15 Sep 2026
Who should invest
This fund suits investors who are comfortable with a Balanced Risk profile and who prefer a hybrid-style allocation rather than a pure equity approach. The short-term numbers have been steadier than the benchmark, but the absence of a longer public return record means the main trade-off is limited history versus a structure that has so far behaved more calmly than the index.
It may fit a medium-term holding period better than a very short trading horizon, because the portfolio is built around underlying mutual funds and an arbitrage sleeve rather than direct market bets. Investors should be comfortable with the fact that the current evidence base is recent and that the long-run return picture is still forming.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Axis Income Plus Arbitrage Passive FOF Direct Growth Plan?
The current NAV is ₹10.5331 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available.
How has the fund performed against Nifty 50 recently?
It has done better than Nifty 50 over both 1 month and 3 months. The fund was positive in each window, while the benchmark was negative.
How does it compare with peer funds on available return data?
Peer funds with available 1-year figures show positive returns, while this fund does not yet have a 1-year figure available. One peer also has 3-year and 5-year figures available, which gives a longer-history comparison point that this fund does not yet match.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Devang Shah, Aditya Pagaria and Hardik Satra. The exit load is nil.
Bottom line
Axis Income Plus Arbitrage Passive FOF Direct Growth Plan has shown a steadier short-term path than Nifty 50, but it does not yet have a long public return record to confirm how it behaves across full market cycles. Compared with peers that have available figures, the absence of a 1-year, 3-year and 5-year trail makes the comparison incomplete. The fund’s Balanced Risk label, no exit load and concentrated two-fund structure make it a measured hybrid-style option rather than a broad market bet.
Published on 17 September 2026 at 12:18 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.