Helios Arbitrage Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Helios Arbitrage Fund Direct Growth Plan currently has a NAV of ₹10.28 as of 16 Sep 2026, with an AUM of ₹134 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the scheme sits in the Low Risk category.
Our view is that this is best read as a conservative arbitrage-style allocation with limited return history rather than a long track record. The short record, low expense ratio and low-volatility positioning may suit investors who want a relatively steady hybrid fund, but the current performance profile gives little evidence yet of meaningful excess return versus the benchmark.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.28 as of 16 Sep 2026 |
| AUM | ₹134 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 20 Mar 2026 |
| Min SIP | ₹1,000 |
| Risk Category | Low Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | 0.25% on or before 7D, NIL after 7D |
| Fund Managers | Alok Bahl, Pratik Singh |
The fund is managed by Alok Bahl and Pratik Singh.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.49% | -4.41% |
| 3M | 1.38% | -3.6% |
| 1Y | 0% | Data not available |
| 3Y | 0% | Data not available |
| 5Y | 0% | Data not available |
The recent 1-month and 3-month numbers show the fund holding close to flat with a mild positive drift, which is notable because the benchmark was weaker over the same windows. That pattern suggests the fund has so far behaved more defensively than the broader market, even if the absolute gain has been small.
At the same time, the longer return fields do not yet show a compounding history that helps us judge durability. Because the scheme launched only in March 2026, the 3-year and 5-year return figures are not a meaningful operating track record for this fund, so the current read is dominated by the short run rather than a full cycle.
That makes the current picture straightforward: the fund has been steadier than the benchmark in the most recent windows, but it has not yet established a longer record of sustained excess return. For investors, the main takeaway is that the present behaviour looks relatively stable, but the evidence base is still thin.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Helios Arbitrage?
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 Helios Arbitrage? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Helios Arbitrage Fund Direct Growth Plan | 0% | 0% | 0% |
| 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 latest 1-year figure, Helios Arbitrage Fund Direct Growth Plan trails the better-known peer returns in this set by a wide margin, while the peer group itself is clustered in the high-6% to mid-7% range. That leaves the fund’s current reading looking much softer than the comparables that already have a one-year history.
For longer periods, the comparison is limited because most peers in this table do not have usable 3-year or 5-year numbers. Invesco India Arbitrage Fund Direct Growth Plan does show 3-year and 5-year figures, and those are well above the current fund’s zero reading, which reinforces the view that Helios has not yet built a comparable long-term record.
So the short-term and longer-term peer pictures tell different stories: the current fund has only a very fresh history, but where peers do show more complete records, the gap is still evident. That means the fund is easy to understand as a new launch, but it is not yet a convincing peer-comparison candidate on trailing returns alone.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Ltd. | Bank | 6.1% |
| TREPS | Cash & Cash Equivalents and Net Assets | 5.94% |
| Axis Bank Ltd. | Bank | 5.86% |
| Life Insurance Corporation of India | Insurance | 5.83% |
| Eicher Motors Ltd. | Automobile & Ancillaries | 4.79% |
| Tata Steel Ltd. | Iron & Steel | 4.71% |
| State Bank of India | Bank | 4.61% |
| Canara Bank | Bank | 3.82% |
| Larsen & Toubro Ltd. | Infrastructure | 3.74% |
| 364 Day T-Bill 28.01.27 | Treasury Bills | 3.64% |
The largest holding, HDFC Bank Ltd. at 6.1%, is not oversized on its own, which suggests the fund is not leaning on a single dominant position. The gap down to the tenth holding, at 3.64%, is fairly controlled, so the visible sleeve looks reasonably balanced rather than sharply top-heavy.
The top 10 holdings together account for approximately 49.04% of the portfolio, so roughly half the scheme sits in the disclosed leading positions while the rest is spread across 35 holdings in total. That mix may reduce dependence on any one stock, but it also means the fund’s behaviour could still be influenced by several mid-sized positions rather than just the top name.
Because the list includes banks, insurance, industrials, metals, infrastructure and treasury bills, the visible book does not look narrowly themed. In our view, that kind of spread may help the fund keep day-to-day volatility contained, although it does not by itself guarantee meaningful return generation.
To see all holdings, visit the Helios Arbitrage Fund Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund is better aligned with investors who want a low-risk hybrid allocation and can accept that the return record is still very short. The recent numbers show mild positive movement while the benchmark was weaker, but the longer return fields do not yet provide a full operating history.
That makes a medium- to longer-term horizon more sensible than a short holding period, especially for investors who value steadier behaviour over aggressive upside. The trade-off is clear: lower day-to-day volatility and a conservative profile may come with modest return expectations, and the current track record is not yet long enough to judge consistency across market cycles.
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: 0.25% if units are sold on or before 7 days; nil after 7 days.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Helios Arbitrage Fund Direct Growth Plan?
The current NAV is ₹10.28 as of 16 Sep 2026. It was down 0.1% on the day.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 0%, 0% and 0%. The scheme was launched on 20 Mar 2026, so the longer figures do not yet reflect a mature track record.
How does it compare with the benchmark?
In the recent 1-month and 3-month periods, the fund was positive while the benchmark was negative. That points to steadier short-term behaviour than the benchmark, even though the longer return fields remain unestablished.
How does it compare with the peer funds shown here?
The current fund trails the 1-year figures available for the peer funds shown here, which are mostly in the high-6% to mid-7% range. For 3-year and 5-year comparisons, most peers also show limited available data.
What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.
Who manages the fund and what is the exit load?
The fund is managed by Alok Bahl and Pratik Singh. The exit load is 0.25% if units are sold on or before 7 days, and nil after 7 days.
Bottom line
Helios Arbitrage Fund Direct Growth Plan looks like a fresh, low-risk hybrid offering with short-term behaviour that has been steadier than the benchmark, but it still lacks a meaningful long return history. On the peer set shown here, its 1-year reading is weaker than the comparables with available one-year data, while the longer peer comparisons remain limited. The portfolio is reasonably spread across several positions, with no single holding dominating the visible book, which may help keep volatility contained for investors who prioritise stability over strong upside.
Published on 17 September 2026 at 3:59 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.