HDFC Income Plus Arbitrage Omni FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

HDFC Income Plus Arbitrage Omni FOF Direct Growth Plan is priced at ₹10.3916 as of 16 Sep 2026, with scheme AUM of ₹30 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the risk category is Medium Risk. In our view, the fund fits investors looking for a relatively steady, mixed-income style allocation rather than a high-octane equity outcome, especially because the portfolio is built mainly around domestic mutual fund units.

The early return record is still short, so we read the fund more as a structure-and-composition story than a long performance history. The low expense ratio and concentrated portfolio may appeal to investors who want a simple wrapper, but the benchmark comparison and peer set suggest that the near-term return pattern needs more time before it can be judged meaningfully.

Quick facts

Particular	Details
NAV	₹10.3916 as of 16 Sep 2026
AUM	₹30 Cr
Expense Ratio	0.0%
Launch Date	12 Mar 2026
Min SIP	₹100
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 18M, Nil after 18M
Fund Managers	Bhavyesh Divecha, Praveen Jain

The fund is managed by Bhavyesh Divecha and Praveen Jain.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.24%	-4.41%
3M	1.89%	-3.6%
1Y	0%	Data not available
3Y	0%	Data not available
5Y	0%	Data not available

Recent behaviour is calm rather than dramatic. Over one month and three months, the fund stayed mildly positive while the benchmark was negative in both windows, which points to better short-term resilience than the index backdrop.

The longer-horizon picture is still limited because the fund launched only in March 2026, so the 1-year, 3-year and 5-year readings do not yet represent a mature track record. For now, we treat the zero return figures as a sign that the fund has not built a long compounding record rather than as a judgement on its eventual capability.

What matters more at this stage is the pattern beneath the headline numbers. The fund has held near a stable level over the observed periods, while the benchmark has moved around more sharply. That makes the current profile look more defensive than growth-oriented, with modest upside participation so far.

Because the history is short, our view is that investors should read this as an early-stage portfolio outcome, not as a settled long-term performance story. The near-term edge over the benchmark is encouraging, but it is not enough on its own to define the fund’s place across a full market cycle.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD HDFC Income Plus Arbitrage Omni 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
HDFC Income Plus Arbitrage Omni FOF Direct Growth Plan	0%	0%	0%
Axis Gold and Silver Passive FoF Direct Growth Plan	Data not available	Data not available	Data not available
HSBC Gold ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Bandhan Silver ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
The Wealth Company Gold ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The current fund’s near-term return is modest, while the peer list mostly lacks usable return history for the same periods. That means the comparison is less about outperformance and more about the absence of a long published track record across the set. On the available numbers, the fund’s short-term steadiness looks cleaner than the benchmark’s recent movement, but the peer table does not yet give us a strong long-horizon contrast.

In practical terms, the fund looks more established on portfolio construction than on performance depth. If an investor is comparing it with other domestic fund-of-fund style options, the present evidence supports a cautious reading: there is some short-term resilience, but not enough history to claim a durable edge over the available peer universe.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Credit Risk Fund – Growth Option – Direct Plan	Domestic Mutual Funds Units	59.81%
HDFC Arbitrage Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	36.5%
HDFC Crisil-Ibx Financial Services 3-6 Months Debt Index Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	3.37%

The largest holding, HDFC Credit Risk Fund – Growth Option – Direct Plan, carries a weight of 59.81%, so it is likely to have the greatest influence on the portfolio’s day-to-day behaviour. The second holding is also large at 36.5%, which means the first two positions together account for almost the entire portfolio shown here.

Weight drops sharply after those two positions. The third holding is just 3.37%, so the disclosed structure is highly concentrated rather than evenly spread. That kind of pattern may make the fund’s outcome depend heavily on the performance of a small number of underlying fund units.

Because only three holdings are disclosed and the top three together account for 99.68% of the portfolio, there is very little visible tail beyond the main positions. In our view, that suggests a compact portfolio design where the broad result is more likely to be shaped by the core allocations than by a long list of smaller positions.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with Medium Risk and want an allocation that does not rely on aggressive equity-style behaviour. The short record and the flat 1-year, 3-year and 5-year figures mean it is better approached with patience than with expectations of fast compounding.

The benchmark comparison shows some short-term resilience, but the fund does not yet have a deep history that proves consistency across market cycles. That makes it more suitable for investors with a moderate horizon who can accept a trade-off between steadiness and the possibility of muted returns while the track record develops.

The main trade-off is concentration: the portfolio is built around a few large underlying fund units, so outcomes may depend heavily on those positions. Investors who prefer a clearer long-run performance record or broader diversification may want to wait for more history.

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: 1% if units are sold within 18 months; nil after 18 months.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of HDFC Income Plus Arbitrage Omni FOF Direct Growth Plan?
The current NAV is ₹10.3916 as of 16 Sep 2026.

What are the fund’s recent returns?
The fund’s 1-year, 3-year and 5-year returns are 0%, 0% and 0%. Its 1-month return is 0.24% and its 3-month return is 1.89%.

How has it done against the benchmark recently?
It has been ahead of the benchmark over both the 1-month and 3-month windows. The benchmark returns for those periods are -4.41% and -3.6%.

Which funds are the main peers in the comparison?
The comparison includes Axis Gold and Silver Passive FoF Direct Growth Plan, HSBC Gold ETF FOF Direct Growth Plan, Bandhan Silver ETF FOF Direct Growth Plan, The Wealth Company Gold ETF FOF Direct Growth Plan and Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan. Their return fields are not available for the periods shown.

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 Bhavyesh Divecha and Praveen Jain. The exit load is 1% if units are sold within 18 months, and nil after 18 months.

Bottom line

This fund’s recent behaviour looks steadier than its benchmark, but the long-horizon return record is still too short to read as a finished performance story. The peer set does not yet provide much usable return history, so the main takeaway is the portfolio structure: a very concentrated mix built mostly around domestic mutual fund units. That makes it a Medium Risk option for investors who can tolerate limited track-record depth and who value a compact, simple allocation more than a long public history.

Published on 17 September 2026 at 3:42 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.