JioBlackRock Arbitrage Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

JioBlackRock Arbitrage Fund Direct Growth Plan currently has a NAV of ₹10.517 as of 16 September 2026 and an AUM of ₹586 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the scheme sits in the Low Risk bucket. Our view is that this is best understood as an arbitrage-style fund with a conservative risk profile, modest recent progress and a portfolio that is still building its history, rather than as a long-track-record return compounder.

The current numbers suggest a suitable fit for investors who want low-volatility exposure and can accept that the return history is still very short. The portfolio has meaningful exposure to cash-like and arbitrage-related positions, along with banking and telecom holdings, which supports a steadier profile than an equity-oriented fund.

Quick facts

Particular	Details
NAV	₹10.517 as of 16 Sep 2026
AUM	₹586 Cr
Expense Ratio	0.0%
Launch Date	16 Dec 2025
Min SIP	₹500
Risk Category	Low Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	0.25% on or before 15D, Nil after 15D
Fund Managers	Anand Shah, Arun Ramachandran, Siddharth Deb, Haresh Mehta

The fund is managed by Anand Shah, Arun Ramachandran, Siddharth Deb and Haresh Mehta.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.62%	-4.41%
3M	1.63%	-3.6%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Recent performance has been steady rather than dramatic. Over 1 month and 3 months, the fund was positive while the benchmark was negative, which points to a more defensive pattern in the latest stretch. That is consistent with an arbitrage-oriented approach, where the objective is usually to reduce volatility rather than chase sharp upside.

The time pattern also matters here. The fund held close to flat for long stretches before edging higher, while the benchmark had a more uneven path. That tells us the fund’s recent gains have been gradual, not explosive, and the ride has been comparatively calm. For investors who care more about stability than about fast capital appreciation, that is a meaningful trait.

The longer-history figures are not available because the scheme was launched on 16 Dec 2025, so we should not read the current short-term edge as proof of a mature track record. In our view, the key takeaway is that the fund has shown better recent resilience than the benchmark, but the evidence base is still limited by age.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD JioBlackRock 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
JioBlackRock Arbitrage Fund 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 recent returns, the fund trails the named peer set on the 1-year figures that are available, while its own 1-year figure is not available because the scheme is still very young. Among peers with longer history, Invesco India Arbitrage Fund Direct Growth Plan is the only one here with 3-year and 5-year figures, and those are stronger than what is currently available for this fund simply because this fund does not yet have a comparable history. The short-term peer picture therefore looks more developed than the long-term one.

That difference matters for interpretation. The newer fund has shown positive short-term behaviour, but the peer table also shows that several older arbitrage funds have established 1-year records in the 7% range. So the immediate comparison is not about a completed long-term record; it is about a young fund showing calm early behaviour against peers with more history. For investors, that makes the current evidence more useful for understanding style than for judging a full cycle.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Jioblackrock Money Market Fund – Direct Plan – Growth Option	Domestic Mutual Funds Units	10.57%
HDFC Bank Ltd	Bank	8.19%
Canara Bank	Bank	6.18%
Vodafone Idea Ltd	Telecom	6.02%
TREPS	Cash & Cash Equivalents and Net Assets	4.62%
Canara Bank (28-Jan-2027) **	Certificate of Deposit	4.15%
Reliance Industries Ltd	Crude Oil	3.53%
Life Insurance Corporation of India	Insurance	3.4%
ICICI Bank Ltd	Bank	3.18%
Bharti Airtel Ltd	Telecom	3.05%

The top 10 holdings account for approximately 52.89% of the portfolio.

To see all holdings, visit the JioBlackRock Arbitrage Fund Direct Growth Plan page

The largest disclosed holding is 10.57% in a money-market fund unit, which is substantial enough to matter but not so dominant that it overwhelms the rest of the mix. The drop from the first holding to the tenth is fairly measured, moving from 10.57% to 3.05%, so the portfolio does not look like a one-position structure.

That said, the top 10 still make up about 52.89% of the portfolio, while 37 holdings are disclosed in total. Our view is that this points to moderate concentration at the visible top of the book, with a longer tail beyond the first 10 positions. The combination of banking, telecom, cash-like exposure and fund units is consistent with a structure that may help keep day-to-day movement comparatively contained.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with low-risk positioning and who want a steadier return path than a typical equity fund may provide. The early performance profile is positive, but it is still short in duration, so a patient horizon makes more sense than a quick-return mindset.

The main trade-off is straightforward: lower volatility and benchmark resilience can come with more modest upside. Investors who want an instrument that may help park money with some return potential, and who can accept that the history is still developing, are likely to find the fit more relevant than investors seeking strong long-term growth signals.

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% on or before 15D, Nil after 15D.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of JioBlackRock Arbitrage Fund Direct Growth Plan?

The current NAV is ₹10.517 as of 16 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available because the scheme’s history is still very short.

How has the fund done against the benchmark recently?

Over 1 month and 3 months, the fund has returned 0.62% and 1.63%, while the NIFTY 50 has returned -4.41% and -3.6%. That shows a steadier recent path than the benchmark.

How does it compare with peer funds on available return data?

On the 1-year figures available in the peer set, several older arbitrage funds show returns in the 6.84% to 7.61% range. This fund does not yet have a comparable 1-year history, so the peer comparison is more useful for style context than for a long-run verdict.

Is there a minimum SIP amount?

The minimum SIP amount is ₹500.

What risk profile, managers and exit load does the fund have?

The scheme is in the Low Risk category and is managed by Anand Shah, Arun Ramachandran, Siddharth Deb and Haresh Mehta. The exit load is 0.25% on or before 15D, and nil after 15D.

Bottom line

This fund has shown a steadier recent pattern than the benchmark, but its longer history is too short to treat the current return path as a full-cycle record. Compared with the available peer figures, the fund still lacks the longer track record that older arbitrage funds bring, while its portfolio mix and Low Risk label point to a more conservative profile. The visible holdings are moderately concentrated at the top, with cash-like and banking exposure playing an important role. It suits investors who value stability and a developing arbitrage-style return pattern more than aggressive growth.

Published on 17 September 2026 at 1:31 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.