UTI Income Plus Arbitrage Active FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI Income Plus Arbitrage Active FoF Direct Growth Plan looks like a conservative hybrid option with a current NAV of ₹10.8874 as of 15 Sep 2026 and scheme AUM of ₹166 Cr. Its 1-year, 3-year and 5-year returns are 5.73%, 0% and 0%, and the fund is tagged as Medium Risk. Our view is that it may suit investors who want a low-volatility approach, but its longer track record is still limited, so the short operating history matters as much as the return snapshot.
The fund also keeps costs tight with an expense ratio of 0.05% and a portfolio built almost entirely through domestic mutual fund units. That structure can make the return pattern steadier than many equity-heavy hybrid funds, but it also means investors should judge it on consistency and portfolio design rather than on a long performance record.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.8874 as of 15 Sep 2026 |
| AUM | ₹166 Cr |
| Expense Ratio | 0.05% |
| Launch Date | 04 Apr 2025 |
| Min SIP | ₹500 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | No exit load |
| Fund Managers | Anurag Mittal |
The fund is managed by Anurag Mittal.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.09% | -4.81% |
| 3M | 1.23% | -3.63% |
| 1Y | 5.73% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Recent behaviour has been more resilient than the benchmark. Over 1 month, 3 months and 1 year, the fund stayed in positive territory while NIFTY 50 was negative across the same windows. That tells us the fund has been comparatively defensive in the latest stretch, which fits its lower-volatility description.
At the same time, the one-year gain of 5.73% is not a stand-out result on an absolute basis, especially when viewed against a benchmark that was under pressure. The more relevant point is that the fund protected capital better than the index during a weak market phase.
The time pattern also looks steadier than a typical equity fund, with only modest movement over the short windows. That can be useful for investors who want smoother behaviour, but it also means the fund has not yet built a long visible record that would let us judge how it behaves through a full market cycle.
Because the scheme began in April 2025, the 3-year and 5-year fields are not yet available. For now, the 1-year result and the recent 1-month and 3-month resilience matter more than longer-period comparisons.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD UTI Income Plus Arbitrage Active 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 UTI Income Plus Arbitrage Active FoF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI Income Plus Arbitrage Active FoF Direct Growth Plan | 5.73% | Data not available | Data not available |
| Quant Arbitrage Fund Direct Growth Plan | 7.6% | Data not available | Data not available |
| WOC Arbitrage Fund Direct Growth Plan | 7.08% | Data not available | Data not available |
| Motilal Oswal Arbitrage Fund Direct Growth Plan | 7% | Data not available | Data not available |
| Franklin India Arbitrage Fund Direct Growth Plan | 6.99% | Data not available | Data not available |
| Invesco India Arbitrage Fund Direct Growth Plan | 6.85% | 7.5% | 7.04% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On 1-year numbers, the fund trails the stronger peer results in this group, with several comparable schemes above 6.8%. That gap is noticeable, but the fund still stays positive and has done so in a weak market backdrop, which keeps the recent picture constructive.
Longer-term comparison is less informative because the current fund does not yet have 3-year or 5-year figures, while one peer does. That means the table points more to a short-history fund than to a scheme with a fully established long-term record.
So the short-term and longer-term stories are different: the latest return pattern looks steady, but the available peer set suggests that some alternatives have already built more visible trailing data. For investors, the key question is whether they value the fund’s recent defensiveness more than the stronger 1-year numbers available elsewhere.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| MF Units Uti – Corporate Bond Fund | Domestic Mutual Funds Units | 62.37% |
| MF Units Uti – Arbitrage Fund | Domestic Mutual Funds Units | 36.52% |
| Net Current Assets | Cash & Cash Equivalents and Net Assets | 1.11% |
The largest holding is MF Units Uti – Corporate Bond Fund at 62.37%, which is a very large single position for a portfolio of only three disclosed holdings. That makes the corporate bond sleeve likely to have the strongest influence on how the fund behaves.
Weight then falls sharply to MF Units Uti – Arbitrage Fund at 36.52%, and the balance is just 1.11% in net current assets. With only three disclosed holdings and the top holdings already accounting for 100%, the portfolio is highly concentrated in structure rather than spread across a long tail.
That concentration may help keep the fund’s pattern relatively simple to follow, but it also means the portfolio outcome is driven mainly by two underlying sleeves. Investors looking for broad diversification across many separate positions will not find that here; the strategy appears to rely on a compact mix instead.
Source data date: as of 15 Sep 2026
Who should invest
This fund fits investors who are comfortable with Medium Risk and want a conservative hybrid structure rather than a high-growth equity style. The recent return pattern has been stable and positive, while the benchmark has been weaker, so the scheme may appeal to people who care more about steadier behaviour than about chasing aggressive upside.
The main trade-off is that the fund’s visible long-term history is still limited, with 3-year and 5-year figures not yet available. That makes it better suited to investors with a moderate horizon who can accept a newer track record in exchange for a low-expense, relatively simple portfolio structure.
Its small number of holdings and heavy reliance on two mutual fund sleeves may also appeal to investors who want a focused, easy-to-understand hybrid exposure. In our view, the scheme is most relevant for cautious investors who value consistency and are willing to accept that the record is still developing.
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 UTI Income Plus Arbitrage Active FoF Direct Growth Plan?
Its NAV is ₹10.8874 as of 15 Sep 2026.
What are the fund’s latest returns?
Its 1-year return is 5.73%. The 3-year and 5-year figures are not yet available.
How has it compared with the benchmark?
It has been ahead of NIFTY 50 over 1 month, 3 months and 1 year. The benchmark was negative across those same windows while the fund stayed positive.
How does it compare with peer funds on 1-year return?
Its 1-year return is below several comparable funds in the peer set, while one peer with longer history also shows 3-year and 5-year figures. The comparison is therefore stronger on short-term numbers than on long-term history.
Is there a minimum SIP amount?
Yes, the minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
Anurag Mittal manages the fund. There is no exit load.
Bottom line
UTI Income Plus Arbitrage Active FoF Direct Growth Plan has shown a steadier recent pattern than NIFTY 50, but its available long-term history is still short. On the peer data that is available, the 1-year return is lower than several comparable schemes, while the lack of 3-year and 5-year figures keeps the long-term comparison incomplete. The fund’s Medium Risk tag, very low expense ratio and concentrated two-sleeve structure make it more suitable for cautious investors who value simplicity and defensive behaviour over a long, proven track record.
Published on 16 September 2026 at 4:10 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.