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Zerodha CASE Arbitrage Fund - Regular Plan - Growth

NAVs of 8 Nov 2026

Zerodha CASE Mutual Fund · Hybrid fund · Regular plan · Growth

ArbitrageRegular · GrowthRisk: Low
NAV · 6 Nov 2026
₹10.1428 ▲ 0.14%
Zerodha CASE Mutual Fund
Fund size₹19.03 crJuly - September 2026
1-month range₹10.08 – 10.14
1 year–
Expense ratio0.00%regular plan, a year
5 years–a year

What the fund does

The investment objective of the Scheme is to generate income and capital appreciation by investing in arbitrage opportunities in the cash and derivatives segments of the equity market, including opportunities within the derivatives segment, and by investing the remaining portion in debt and money market instruments. There is no assurance that the investment objective of the Scheme will be achieved.

BenchmarkNifty 50 Arbitrage Index TRI - As per AMFI Tier I Benchmark
Launched18 Aug 2026
Fund houseZerodha CASE Mutual Fund
Fund managersKedarnath Mirajkarsince 12 Aug 2026

NAV history

101010 2026-08-202026-09-012026-09-112026-09-242026-10-072026-10-192026-10-30

Returns

1 week
+0.23%avg 0.2%
1 month
+0.59%avg 0.5%

Bars: this plan; the thin mark is the Arbitrage average (regular plans, growth option). Over a year: yearly averages (CAGR). Past returns do not guarantee future returns. Information only, not investment advice.

Monthly returns (%)

YearJanFebMarAprMayJunJulAugSepOctNovDec
2026+0.5+0.1+0.6+0.2

Each month's change in NAV (the current month to the latest NAV).

What if you had invested?

Worked out from this plan's actual NAVs. SIP: invested on the first NAV of each month. Taxes and exit loads are not included. Past returns do not guarantee future returns. Information only, not investment advice.

Portfolio as on 30 Sept 2026

Stocks held49102 lines in all
Top 10 stocks33.7%of the fund
Short positions-75.8%sold through derivatives
Net equity-7.3%long stocks and derivatives minus shorts

Where the money is

Equity 68.5%Money market 10.2%Cash & others 21.4%Short -75.8%

Sectors (stocks held)

Banks
28.2%
IT - Software
5.4%
Telecom - Services
4.8%
Finance
3.8%
Retailing
3.0%
Automobiles
2.9%
Consumer Durables
2.8%
Consumable Fuels
2.2%

Changes since 31 Aug 2026

Share of fund30 Sept 202631 Aug 2026Change
Stocks held68.5%67.6%+0.85
Short positions-75.8%-67.6%-8.16
Money market10.2%13.7%-3.48
Cash & others21.4%18.7%+2.64
Top 10 stocks33.7%35.7%-2.01
Number of stocks4927+22
New stocks 26
  • PNB Housing Finance Limited2.34%
  • ITC Limited2.04%
  • Trent Limited2.02%
  • Infosys Limited1.96%
  • GAIL (India) Limited1.30%
  • Astral Limited1.12%
  • IndusInd Bank Limited1.08%
  • Coforge Limited1.07%
  • HCL Technologies Limited1.05%
  • SWIGGY LIMITED0.98%
  • Tata Consultancy Services Limited0.79%
  • PERSISTENT SYSTEMS LTD0.56%
  • Container Corporation of India Limited0.48%
  • Divi's Laboratories Limited0.40%
  • Marico Limited0.20%
  • Bajaj Auto Limited0.17%
  • Canara Bank0.17%
  • Hero MotoCorp Limited0.17%
  • Union Bank of India0.16%
  • Multi Commodity Exchange of India Limited0.16%
  • Pidilite Industries Limited0.16%
  • Adani Power Limited0.16%
  • Bank of India0.14%
  • Nestle India Limited0.14%
  • Oberoi Realty Limited0.13%
  • Power Finance Corporation Limited0.09%
Stocks sold off 4
  • SBI Life Insurance Company Limitedwas 2.82%
  • ICICI Lombard General Insurance Company Limitedwas 1.32%
  • Dabur India Limitedwas 1.10%
  • Titan Company Limitedwas 0.26%
Bought more 5
  • HDFC Bank Limited+2.21
  • ICICI Bank Limited+1.14
  • The Federal Bank Limited+1.09
  • Reliance Industries Limited+0.69
  • Bharti Airtel Limited+0.52
Cut back 16
  • HDFC Asset Management Company Limited-2.65
  • State Bank of India-2.06
  • Bajaj Finance Limited-1.89
  • Crompton Greaves Consumer Electricals Limited-1.45
  • AU Small Finance Bank Limited-1.18
  • IDFC First Bank Limited-1.08
  • Godrej Properties Limited-1.05
  • Tata Steel Limited-1.00
  • Cummins India Limited-0.98
  • Axis Bank Limited-0.97
  • Indus Towers Limited-0.92
  • Tata Motors Passenger Vehicles Limited-0.91
  • Life Insurance Corporation Of India-0.81
  • Coal India Limited-0.60
  • Bank of Baroda-0.36
  • The Tata Power Company Limited-0.27

Change is in percentage points. Bought more and cut back list stocks whose share of the fund moved by at least 0.25 points. A share can also move because the price changed, not only because the fund traded.

Stocks held 49

HoldingSector / type% of fund
HDFC Bank Limited
INE040A01034		Banks8.18%
ICICI Bank Limited
INE090A01021		Banks4.36%
The Federal Bank Limited
INE171A01029		Banks3.91%
Crompton Greaves Consumer Electricals Limited
INE299U01018		Consumer Durables2.78%
IDFC First Bank Limited
INE092T01019		Banks2.59%
Bharti Airtel Limited
INE397D01024		Telecom - Services2.50%
Bank of Baroda
INE028A01039		Banks2.45%
PNB Housing Finance Limited
INE572E01012		Finance2.34%
Indus Towers Limited
INE121J01017		Telecom - Services2.31%
Axis Bank Limited
INE238A01034		Banks2.30%
Coal India Limited
INE522F01014		Consumable Fuels2.21%
Reliance Industries Limited
INE002A01018		Petroleum Products2.16%
Tata Steel Limited
INE081A01020		Ferrous Metals2.06%
ITC Limited
INE154A01025		Diversified FMCG2.04%
Trent Limited
INE849A01020		Retailing2.02%
Infosys Limited
INE009A01021		IT - Software1.96%
AU Small Finance Bank Limited
INE949L01017		Banks1.95%
Tata Motors Passenger Vehicles Limited
INE155A01022		Automobiles1.94%
Life Insurance Corporation Of India
INE0J1Y01017		Insurance1.89%
Godrej Properties Limited
INE484J01027		Realty1.59%
GAIL (India) Limited
INE129A01019		Gas1.30%
Astral Limited
INE006I01046		Industrial Products1.12%
IndusInd Bank Limited
INE095A01012		Banks1.08%
Bajaj Finance Limited
INE296A01032		Finance1.08%
Coforge Limited
INE591G01025		IT - Software1.07%
HCL Technologies Limited
INE860A01027		IT - Software1.05%
SWIGGY LIMITED
INE00H001014		Retailing0.98%
State Bank of India
INE062A01020		Banks0.92%
The Tata Power Company Limited
INE245A01021		Power0.89%
Tata Consultancy Services Limited
INE467B01029		IT - Software0.79%
TVS Motor Company Limited
INE494B01023		Automobiles0.62%
PERSISTENT SYSTEMS LTD
INE262H01021		IT - Software0.56%
Container Corporation of India Limited
INE111A01025		Transport Services0.48%
Divi's Laboratories Limited
INE361B01024		Pharmaceuticals & Biotechnology0.40%
HDFC Asset Management Company Limited
INE127D01025		Capital Markets0.29%
Aditya Birla Capital Limited
INE674K01013		Finance0.25%
Cummins India Limited
INE298A01020		Industrial Products0.20%
Marico Limited
INE196A01026		Agricultural Food & other Products0.20%
Bajaj Auto Limited
INE917I01010		Automobiles0.17%
Canara Bank
INE476A01022		Banks0.17%
Hero MotoCorp Limited
INE158A01026		Automobiles0.17%
Union Bank of India
INE692A01016		Banks0.16%
Multi Commodity Exchange of India Limited
INE745G01043		Capital Markets0.16%
Pidilite Industries Limited
INE318A01026		Chemicals & Petrochemicals0.16%
Adani Power Limited
INE814H01029		Power0.16%
Bank of India
INE084A01016		Banks0.14%
Nestle India Limited
INE239A01024		Food Products0.14%
Oberoi Realty Limited
INE093I01010		Realty0.13%
Power Finance Corporation Limited
INE134E01011		Finance0.09%

Short positions 50

HoldingSector / type% of fund
HDFC Bank Limited 27/10/2026Banks-8.26%
Net Receivable / Payable–-6.93%
ICICI Bank Limited 27/10/2026Banks-4.38%
The Federal Bank Limited 27/10/2026Banks-3.94%
Crompton Greaves Consumer Elec Ltd 27/10/2026Consumer Durables-2.81%
IDFC First Bank Limited 27/10/2026Banks-2.59%
Bharti Airtel Limited 27/10/2026Telecom - Services-2.51%
Bank of Baroda 27/10/2026Banks-2.48%
PNB Housing Finance Limited 27/10/2026Finance-2.35%
Indus Towers Limited 27/10/2026Telecom - Services-2.31%
Axis Bank Limited 27/10/2026Banks-2.30%
Coal India Ltd 27/10/2026Consumable Fuels-2.22%
Reliance Industries Limited 27/10/2026Petroleum Products-2.17%
Tata Steel Limited 27/10/2026Ferrous Metals-2.08%
Trent Ltd 27/10/2026Retailing-2.04%
ITC Limited 27/10/2026Diversified FMCG-2.04%
Infosys Limited 27/10/2026IT - Software-1.97%
AU Small Finance Bank Ltd 27/10/2026Banks-1.95%
Tata Motors Passenger Vehicles Limited 27/10/2026Automobiles-1.94%
Life Insurance Corporation Of India 27/10/2026Insurance-1.92%
Godrej Properties Limited 27/10/2026Realty-1.60%
GAIL (India) Limited 27/10/2026Gas-1.31%
Astral Limited 27/10/2026Industrial Products-1.12%
Bajaj Finance Limited 27/10/2026Finance-1.09%
Coforge Ltd. 27/10/2026IT - Software-1.08%
Indusind Bank Limited 27/10/2026Banks-1.08%
HCL Technologies Limited 27/10/2026IT - Software-1.05%
SWIGGY LIMITED 27/10/2026Retailing-0.98%
State Bank of India 27/10/2026Banks-0.93%
Tata Power Company Limited 27/10/2026Power-0.89%
Tata Consultancy Services Limited 27/10/2026IT - Software-0.79%
TVS Motor Company Ltd 27/10/2026Automobiles-0.62%
Persistent Systems Limited 27/10/2026IT - Software-0.56%
Container Corporation of India Ltd 27/10/2026Transport Services-0.48%
Divi's Laboratories Limited 27/10/2026Pharmaceuticals & Biotechnology-0.40%
HDFC Asset Management Company Ltd 27/10/2026Capital Markets-0.30%
Aditya Birla Capital Limited 27/10/2026Finance-0.25%
Cummins India Ltd. 27/10/2026Industrial Products-0.21%
Marico Limited 27/10/2026Agricultural Food & other Products-0.20%
Bajaj Auto Limited 27/10/2026Automobiles-0.18%
Hero MotoCorp Limited 27/10/2026Automobiles-0.17%
Canara Bank 27/10/2026Banks-0.17%
Pidilite Industries Ltd 27/10/2026Chemicals & Petrochemicals-0.16%
Adani Power Limited 27/10/2026Power-0.16%
Multi Commodity Exchange of India Ltd. 27/10/2026Capital Markets-0.16%
Union Bank of India 27/10/2026Banks-0.16%
Bank of India 27/10/2026Banks-0.15%
Nestle India Limited 27/10/2026Food Products-0.14%
Oberoi Realty Limited 27/10/2026Realty-0.13%
Power Finance Corporation Ltd. 27/10/2026Finance-0.09%

Derivatives, debt, money market and cash 3

HoldingSector / type% of fund
Clearing Corporation of India Limited–15.41%
HSBC Liquid Fund - Direct Growth
INF336L01CC8		–12.88%
364 Days Treasury Bill 12-Aug-2027
IN002026Z193		Sovereign10.17%

From the fund house's monthly portfolio (assets.zerodhafundhouse.com), as on 30 Sept 2026. Percentages are of the fund's net assets; short positions are negative. Published about ten days after each month ends.

Risk

Volatility1.9%yearly, from daily NAVs
Worst fall-0.34%31 Aug 2026 → 4 Sept 2026
RiskometerLowLow

Volatility: how much the NAV moves, as a yearly figure (higher = bumpier). Worst fall: the biggest drop from a high, in the NAV history we hold (from 20 Aug 2026).

Where it can invest (limits from the scheme document)

Equity & Equity related instruments including derivatives
65–100%
Debt and Money Market Instruments*, Cash & Cash Equivalents, Including units of Mutual funds
0–35%

The ranges the fund is allowed to hold, not what it holds today.

Fund details

Fund size (average AUM, July - September 2026)₹19.03 cr across all plans
Fund houseZerodha CASE Mutual Fund
CategoryHybrid · Arbitrage
PlanRegular
OptionGrowth
Expense ratio (TER)Direct 2.14% · Regular 0.00% (6 Nov 2026)
Minimum investmentLumpsum: ?5000 and in multiples of ‘any amount’ thereafter SIP: ?1000 and in multiples of ‘any amount’ thereafter. · additional Lumpsum: ?5000 and in multiples of ‘any amount’ thereafter SIP: ?1000 and in multiples of ‘any amount’ thereafter.
Scheme code (AMFI)154619
ISININF0R8F01232
NAV date6 Nov 2026

Scheme details from the fund's scheme summary document filed with AMFI; expense ratios from AMFI's daily filings.

Top Arbitrage funds (regular plans)

Fund1 year3 years (a year)
Tata Arbitrage Fund+6.83%+7.46%
Mirae Asset Arbitrage Fund+6.77%+7.38%
Axis Arbitrage Fund+6.74%+7.34%
Sundaram Arbitrage Fund(Formerly Known as Prinicpal Arbitrage Fund)+6.97%+7.27%
PGIM India Arbitrage Fund+6.69%+7.09%
BANK OF INDIA ARBITRAGE FUND+6.55%+6.88%
Edelweiss Arbitrage Fund+6.25%+6.86%
Kotak Arbitrage Fund+6.16%+6.82%
Zerodha CASE Arbitrage Fund––

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Information only, not investment advice.

What is the NAV of Zerodha CASE Arbitrage Fund - Regular Plan - Growth today?

₹10.1428 as of 6 Nov 2026, from AMFI's official NAV data.

What are the returns of Zerodha CASE Arbitrage Fund - Regular Plan - Growth?

Returns appear once enough NAV history is available.

What is the difference between direct and regular plans?

Both invest in the same portfolio. Direct plans are bought straight from the fund house and pay no distributor commission, so their expenses are lower and their NAV grows slightly faster.