Jm Arbitrage Fund Overview | ||||||
---|---|---|---|---|---|---|
Category | Arbitrage Fund | |||||
BMSMONEY Rank | 18 | |||||
BMSMONEY Rating | ||||||
Growth Option | As On: | 25-04-2024 | ||||
NAV | ₹30.24 (R) | -0.08% | ₹31.99 (D) | -0.08% | ||
Returns Gro. Opt. | 1Y | 3Y | 5Y | 7Y | 10Y | |
LumpSum Reg. P | 7.06% | 5.07% | 4.36% | 4.66% | 5.37% | |
LumpSum Dir. P | 7.83% | 5.72% | 4.91% | 5.17% | 5.9% | |
SIP Reg. P | 7.29% | 5.99% | 4.96% | 4.76% | 4.9% | |
SIP Dir. P | 8.06% | 6.7% | 5.58% | 5.33% | 5.44% | |
Ratio | Sharpe Ratio | Sortino Ratio | Sterling Ratio | Jensen's Alpha | Treynor Ratio | |
- | - | - | -% | - | ||
Risk | STD. Dev | VaR 1Y95% | Max DD | Beta | Semi Devi. | |
-% | -% | -% | - | -% |
NAV Date: 25-04-2024
Scheme Name | NAV | Rupee Change | Percent Change |
---|---|---|---|
JM Arbitrage Fund (Regular) - Monthly IDCW | 11.89 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Direct) - Monthly IDCW | 12.92 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Regular) - Annual IDCW | 13.36 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Regular) - Half Yearly IDCW | 13.46 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Regular) - Quarterly IDCW | 13.66 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Regular) - IDCW | 14.04 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Direct) - Annual IDCW | 14.56 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Direct) - Half Yearly IDCW | 14.8 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Direct)- IDCW | 15.08 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Direct) - Quarterly IDCW | 15.2 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Direct) - Annual Bonus Option - Principal Units | 16.43 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Regular) - Bonus Option - Principal Units | 16.44 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Direct) - Bonus Option - Principal Units | 17.12 |
-0.0100
|
-0.0800%
|
JM Arbitrage Fund (Regular) - Growth Option | 30.24 |
-0.0200
|
-0.0800%
|
JM Arbitrage Fund (Regular) - Annual Bonus Option - Principal Units | 30.53 |
-0.0200
|
-0.0800%
|
JM Arbitrage Fund (Regular) - Half Yearly Bonus Option - Principal Units | 30.58 |
-0.0200
|
-0.0800%
|
JM Arbitrage Fund (Regular) - Quarterly Bonus Option - Principal Units | 30.58 |
-0.0200
|
-0.0800%
|
JM Arbitrage Fund (Direct) - Growth Option | 31.99 |
-0.0200
|
-0.0800%
|
JM Arbitrage Fund (Direct) - Half Yearly Bonus Option - Principal Units | 32.04 |
-0.0200
|
-0.0800%
|
JM Arbitrage Fund (Direct) - Quarterly Bonus Option - Principal Units | 32.05 |
-0.0200
|
-0.0800%
|
Review Date: March 28, 2024
The Arbitrage Fund category has 23 funds. Performance of the JM Arbitrage Fund has been analyzed on eight performance parameters. Out of eight return parameters, the fund has zero return parameters in first quartile; whereas zero risk parameters (out of zero) in first quartile. Similarly zero risk-adjusted performance parameters are in first quartile, the performance on different parameters provides has achieved 18th (out of 23 funds), which is ok rank in the Arbitrage Fund category.KPIs* | Fund | Benchmark | Cat. Avg | Min | Max | Rank (In Cat.) | Better Than Cat. Avg | In 1st Quartile | In 4th Quartile |
---|---|---|---|---|---|---|---|---|
1M Return % | 0.72 |
0.76
|
0.65 | 0.84 | 19 | 23 |
No
|
No
|
Yes
|
|
3M Return % | 1.64 |
1.70
|
1.43 | 1.86 | 19 | 23 |
No
|
No
|
Yes
|
|
6M Return % | 3.57 |
3.62
|
2.99 | 3.89 | 17 | 23 |
No
|
No
|
No
|
|
1Y Return % | 7.06 |
7.34
|
6.02 | 7.86 | 19 | 23 |
No
|
No
|
Yes
|
|
3Y Return % | 5.07 |
5.26
|
4.29 | 5.81 | 17 | 21 |
No
|
No
|
Yes
|
|
5Y Return % | 4.36 |
5.03
|
4.03 | 5.38 | 17 | 18 |
No
|
No
|
Yes
|
|
7Y Return % | 4.66 |
5.35
|
4.66 | 5.64 | 13 | 13 |
No
|
No
|
Yes
|
|
10Y Return % | 5.37 |
5.86
|
5.37 | 6.12 | 10 | 10 |
No
|
No
|
Yes
|
|
15Y Return % | 6.08 |
6.37
|
6.08 | 6.65 | 8 | 8 |
No
|
No
|
Yes
|
|
1Y SIP Return % | 7.29 |
7.48
|
6.24 | 8.07 | 18 | 23 |
No
|
No
|
Yes
|
|
3Y SIP Return % | 5.99 |
6.16
|
5.09 | 6.69 | 16 | 21 |
No
|
No
|
Yes
|
|
5Y SIP Return % | 4.96 |
5.42
|
4.43 | 5.82 | 17 | 18 |
No
|
No
|
Yes
|
|
7Y SIP Return % | 4.76 |
5.38
|
4.76 | 5.68 | 13 | 13 |
No
|
No
|
Yes
|
|
10Y SIP Return % | 4.90 |
5.49
|
4.90 | 5.76 | 10 | 10 |
No
|
No
|
Yes
|
|
15Y SIP Return % | 5.62 |
6.05
|
5.62 | 6.34 | 8 | 8 |
No
|
No
|
Yes
|
KPIs* | Fund | Benchmark | Cat. Avg | Min | Max | Rank (In Cat.) | Better Than Cat. Avg | In 1st Quartile | In 4th Quartile |
---|---|---|---|---|---|---|---|---|
1M Return % | 0.78 | 0.82 | 0.71 | 0.89 | 18 | 23 |
No
|
No
|
Yes
|
|
3M Return % | 1.82 | 1.86 | 1.62 | 2.00 | 18 | 23 |
No
|
No
|
Yes
|
|
6M Return % | 3.94 | 3.96 | 3.40 | 4.21 | 17 | 23 |
No
|
No
|
No
|
|
1Y Return % | 7.83 | 8.05 | 6.87 | 8.50 | 18 | 23 |
No
|
No
|
Yes
|
|
3Y Return % | 5.72 | 5.96 | 4.85 | 6.47 | 18 | 21 |
No
|
No
|
Yes
|
|
5Y Return % | 4.91 | 5.70 | 4.67 | 6.14 | 17 | 18 |
No
|
No
|
Yes
|
|
7Y Return % | 5.17 | 6.00 | 5.17 | 6.29 | 13 | 13 |
No
|
No
|
Yes
|
|
10Y Return % | 5.90 | 6.48 | 5.90 | 6.72 | 10 | 10 |
No
|
No
|
Yes
|
|
1Y SIP Return % | 8.06 | 8.20 | 7.09 | 8.70 | 18 | 23 |
No
|
No
|
Yes
|
|
3Y SIP Return % | 6.70 | 6.88 | 5.92 | 7.39 | 17 | 21 |
No
|
No
|
Yes
|
|
5Y SIP Return % | 5.58 | 6.10 | 5.03 | 6.50 | 17 | 18 |
No
|
No
|
Yes
|
|
7Y SIP Return % | 5.33 | 6.05 | 5.33 | 6.31 | 13 | 13 |
No
|
No
|
Yes
|
|
10Y SIP Return % | 5.44 | 6.13 | 5.44 | 6.36 | 10 | 10 |
No
|
No
|
Yes
|
Investment Period | Regular | Direct | ||
---|---|---|---|---|
Return % | Current Value of ₹ 10000 | Return % | Current Value of ₹ 10000 | |
1D | -0.08 | ₹ 9992.0 | -0.08 | ₹ 9992.0 |
1W | -0.1 | ₹ 9990.0 | -0.09 | ₹ 9991.0 |
1M | 0.72 | ₹ 10072.0 | 0.78 | ₹ 10078.0 |
3M | 1.64 | ₹ 10164.0 | 1.82 | ₹ 10182.0 |
6M | 3.57 | ₹ 10357.0 | 3.94 | ₹ 10394.0 |
1Y | 7.06 | ₹ 10706.0 | 7.83 | ₹ 10783.0 |
3Y | 5.07 | ₹ 11600.0 | 5.72 | ₹ 11815.0 |
5Y | 4.36 | ₹ 12377.0 | 4.91 | ₹ 12707.0 |
7Y | 4.66 | ₹ 13751.0 | 5.17 | ₹ 14229.0 |
10Y | 5.37 | ₹ 16875.0 | 5.9 | ₹ 17733.0 |
15Y | 6.08 | ₹ 24255.0 | - | ₹ - |
Disclaimer: Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Returns for periods above 1 year are annualised.
Investment Period | Invested Amount | Regular | Direct | ||
---|---|---|---|---|---|
XIRR % | Current Value of Invested Amount | XIRR % | Current Value of Invested Amount | ||
1Y | ₹ 12000 | 7.2857 | ₹ 12468.216 | 8.0579 | ₹ 12517.272 |
3Y | ₹ 36000 | 5.9874 | ₹ 39425.976 | 6.6973 | ₹ 39846.06 |
5Y | ₹ 60000 | 4.9558 | ₹ 68015.52 | 5.5779 | ₹ 69088.62 |
7Y | ₹ 84000 | 4.7551 | ₹ 99464.064 | 5.3271 | ₹ 101512.32 |
10Y | ₹ 120000 | 4.8982 | ₹ 154190.88 | 5.4414 | ₹ 158603.28 |
15Y | ₹ 180000 | 5.6217 | ₹ 279656.1 | - | ₹ - |
Date | NAV Regular Growth | NAV Direct Growth |
---|---|---|
25-04-2024 | 30.2405 | 31.9923 |
24-04-2024 | 30.2644 | 32.017 |
23-04-2024 | 30.2668 | 32.0189 |
22-04-2024 | 30.2532 | 32.0039 |
19-04-2024 | 30.2715 | 32.0214 |
18-04-2024 | 30.2548 | 32.0031 |
16-04-2024 | 30.2295 | 31.9752 |
15-04-2024 | 30.222 | 31.9666 |
12-04-2024 | 30.2105 | 31.9525 |
09-04-2024 | 30.1924 | 31.9313 |
08-04-2024 | 30.1937 | 31.9321 |
05-04-2024 | 30.1869 | 31.9229 |
04-04-2024 | 30.1622 | 31.8968 |
03-04-2024 | 30.1489 | 31.8821 |
02-04-2024 | 30.1126 | 31.843 |
01-04-2024 | 30.1169 | 31.8469 |
28-03-2024 | 30.1024 | 31.829 |
27-03-2024 | 30.0717 | 31.7959 |
26-03-2024 | 30.0229 | 31.7436 |
22-03-2024 | 30.0378 | 31.7568 |
21-03-2024 | 30.035 | 31.7532 |
20-03-2024 | 30.0518 | 31.7703 |
19-03-2024 | 30.0367 | 31.7537 |
18-03-2024 | 30.0315 | 31.7475 |
15-03-2024 | 30.0091 | 31.7219 |
14-03-2024 | 29.9839 | 31.6946 |
13-03-2024 | 30.0097 | 31.7212 |
12-03-2024 | 29.9777 | 31.6867 |
11-03-2024 | 30.0004 | 31.7101 |
07-03-2024 | 29.998 | 31.705 |
06-03-2024 | 29.9658 | 31.6703 |
05-03-2024 | 29.9648 | 31.6685 |
04-03-2024 | 29.9531 | 31.6555 |
01-03-2024 | 29.9472 | 31.6473 |
29-02-2024 | 29.9293 | 31.6278 |
28-02-2024 | 29.9654 | 31.6653 |
27-02-2024 | 29.9299 | 31.6271 |
26-02-2024 | 29.9115 | 31.6071 |
23-02-2024 | 29.9134 | 31.6072 |
22-02-2024 | 29.8846 | 31.576 |
21-02-2024 | 29.9099 | 31.6021 |
20-02-2024 | 29.8931 | 31.5837 |
19-02-2024 | 29.8665 | 31.5549 |
16-02-2024 | 29.8617 | 31.5479 |
15-02-2024 | 29.8395 | 31.5239 |
14-02-2024 | 29.8345 | 31.5179 |
13-02-2024 | 29.8352 | 31.518 |
12-02-2024 | 29.8543 | 31.5376 |
09-02-2024 | 29.822 | 31.5015 |
08-02-2024 | 29.8214 | 31.5003 |
07-02-2024 | 29.8068 | 31.4841 |
06-02-2024 | 29.7931 | 31.469 |
05-02-2024 | 29.8128 | 31.4893 |
02-02-2024 | 29.7835 | 31.4563 |
01-02-2024 | 29.7746 | 31.4462 |
31-01-2024 | 29.7598 | 31.4301 |
30-01-2024 | 29.7536 | 31.4228 |
29-01-2024 | 29.7514 | 31.42 |
25-01-2024 | 29.7399 | 31.4054 |
24-01-2024 | 29.6945 | 31.3568 |
23-01-2024 | 29.751 | 31.4158 |
19-01-2024 | 29.6844 | 31.3431 |
18-01-2024 | 29.6651 | 31.3221 |
17-01-2024 | 29.6972 | 31.3555 |
16-01-2024 | 29.6884 | 31.3456 |
15-01-2024 | 29.6589 | 31.3138 |
12-01-2024 | 29.6509 | 31.3035 |
11-01-2024 | 29.6417 | 31.2932 |
10-01-2024 | 29.623 | 31.2728 |
09-01-2024 | 29.6397 | 31.2899 |
08-01-2024 | 29.6179 | 31.2662 |
05-01-2024 | 29.5873 | 31.2321 |
04-01-2024 | 29.5536 | 31.196 |
03-01-2024 | 29.568 | 31.2105 |
02-01-2024 | 29.5653 | 31.207 |
01-01-2024 | 29.5483 | 31.1885 |
29-12-2023 | 29.5048 | 31.1408 |
28-12-2023 | 29.4827 | 31.1168 |
27-12-2023 | 29.4948 | 31.1291 |
26-12-2023 | 29.4728 | 31.1052 |
22-12-2023 | 29.4742 | 31.1043 |
21-12-2023 | 29.4535 | 31.0819 |
20-12-2023 | 29.4761 | 31.105 |
19-12-2023 | 29.4562 | 31.0835 |
18-12-2023 | 29.4635 | 31.0905 |
15-12-2023 | 29.4256 | 31.0487 |
14-12-2023 | 29.3835 | 31.0038 |
13-12-2023 | 29.3987 | 31.0191 |
12-12-2023 | 29.4233 | 31.0445 |
11-12-2023 | 29.4207 | 31.0412 |
08-12-2023 | 29.4246 | 31.0435 |
07-12-2023 | 29.3795 | 30.9953 |
06-12-2023 | 29.4102 | 31.0271 |
05-12-2023 | 29.3993 | 31.015 |
04-12-2023 | 29.3813 | 30.9954 |
01-12-2023 | 29.3836 | 30.996 |
30-11-2023 | 29.3434 | 30.953 |
29-11-2023 | 29.3472 | 30.9565 |
28-11-2023 | 29.3361 | 30.9441 |
24-11-2023 | 29.3766 | 30.9844 |
23-11-2023 | 29.3359 | 30.9409 |
22-11-2023 | 29.3153 | 30.9186 |
21-11-2023 | 29.3219 | 30.9249 |
20-11-2023 | 29.3202 | 30.9226 |
17-11-2023 | 29.3057 | 30.9054 |
16-11-2023 | 29.311 | 30.9105 |
15-11-2023 | 29.3032 | 30.9017 |
13-11-2023 | 29.3021 | 30.8993 |
10-11-2023 | 29.3052 | 30.9008 |
09-11-2023 | 29.276 | 30.8694 |
08-11-2023 | 29.2907 | 30.8843 |
07-11-2023 | 29.2528 | 30.8437 |
06-11-2023 | 29.2716 | 30.863 |
03-11-2023 | 29.2595 | 30.8483 |
02-11-2023 | 29.2387 | 30.8258 |
01-11-2023 | 29.268 | 30.8561 |
31-10-2023 | 29.2362 | 30.822 |
30-10-2023 | 29.2449 | 30.8306 |
27-10-2023 | 29.2361 | 30.8195 |
26-10-2023 | 29.1989 | 30.7797 |
25-10-2023 | 29.2002 | 30.7805 |
23-10-2023 | 29.2165 | 30.7965 |
20-10-2023 | 29.2093 | 30.7871 |
19-10-2023 | 29.1889 | 30.765 |
18-10-2023 | 29.1686 | 30.7429 |
17-10-2023 | 29.1655 | 30.7391 |
16-10-2023 | 29.1683 | 30.7415 |
13-10-2023 | 29.1723 | 30.7439 |
12-10-2023 | 29.1379 | 30.707 |
11-10-2023 | 29.1396 | 30.7082 |
10-10-2023 | 29.1216 | 30.6887 |
09-10-2023 | 29.1478 | 30.7156 |
06-10-2023 | 29.1214 | 30.6861 |
05-10-2023 | 29.1173 | 30.6812 |
04-10-2023 | 29.1118 | 30.6748 |
03-10-2023 | 29.0716 | 30.6318 |
29-09-2023 | 29.0737 | 30.6316 |
27-09-2023 | 29.0285 | 30.5829 |
26-09-2023 | 29.0398 | 30.5942 |
25-09-2023 | 29.0221 | 30.5749 |
22-09-2023 | 29.0168 | 30.5675 |
21-09-2023 | 29.0108 | 30.5606 |
20-09-2023 | 28.9871 | 30.535 |
18-09-2023 | 29.0069 | 30.5547 |
15-09-2023 | 28.9791 | 30.5237 |
14-09-2023 | 28.9658 | 30.5091 |
13-09-2023 | 28.9694 | 30.5123 |
12-09-2023 | 28.9923 | 30.5358 |
11-09-2023 | 28.9738 | 30.5158 |
08-09-2023 | 28.9576 | 30.4969 |
07-09-2023 | 28.9327 | 30.4701 |
06-09-2023 | 28.9279 | 30.4645 |
05-09-2023 | 28.914 | 30.4492 |
04-09-2023 | 28.904 | 30.4381 |
01-09-2023 | 28.8876 | 30.4191 |
31-08-2023 | 28.8981 | 30.4295 |
30-08-2023 | 28.8996 | 30.4305 |
29-08-2023 | 28.8868 | 30.4165 |
28-08-2023 | 28.8833 | 30.4121 |
25-08-2023 | 28.8895 | 30.417 |
24-08-2023 | 28.8668 | 30.3924 |
23-08-2023 | 28.839 | 30.3626 |
22-08-2023 | 28.8473 | 30.3708 |
21-08-2023 | 28.8286 | 30.3505 |
18-08-2023 | 28.8452 | 30.3661 |
17-08-2023 | 28.8074 | 30.3258 |
16-08-2023 | 28.8134 | 30.3315 |
14-08-2023 | 28.8068 | 30.3233 |
11-08-2023 | 28.7805 | 30.2939 |
10-08-2023 | 28.7732 | 30.2857 |
09-08-2023 | 28.7585 | 30.2696 |
08-08-2023 | 28.7534 | 30.2636 |
07-08-2023 | 28.7373 | 30.2461 |
04-08-2023 | 28.7373 | 30.2444 |
03-08-2023 | 28.724 | 30.2297 |
02-08-2023 | 28.7295 | 30.235 |
01-08-2023 | 28.7081 | 30.2119 |
31-07-2023 | 28.6942 | 30.1967 |
28-07-2023 | 28.6758 | 30.1755 |
27-07-2023 | 28.6802 | 30.1796 |
26-07-2023 | 28.6748 | 30.1733 |
25-07-2023 | 28.6604 | 30.1575 |
24-07-2023 | 28.6869 | 30.1848 |
21-07-2023 | 28.676 | 30.1716 |
20-07-2023 | 28.6692 | 30.164 |
19-07-2023 | 28.6463 | 30.1392 |
18-07-2023 | 28.6593 | 30.1523 |
17-07-2023 | 28.6335 | 30.1246 |
14-07-2023 | 28.6272 | 30.1162 |
13-07-2023 | 28.6439 | 30.1332 |
12-07-2023 | 28.6177 | 30.1051 |
11-07-2023 | 28.6061 | 30.0923 |
10-07-2023 | 28.6001 | 30.0854 |
07-07-2023 | 28.5866 | 30.0694 |
06-07-2023 | 28.5759 | 30.0576 |
05-07-2023 | 28.5741 | 30.0551 |
04-07-2023 | 28.5773 | 30.0579 |
03-07-2023 | 28.5542 | 30.033 |
30-06-2023 | 28.5552 | 30.0323 |
28-06-2023 | 28.5458 | 30.0213 |
27-06-2023 | 28.5361 | 30.0105 |
26-06-2023 | 28.5242 | 29.9974 |
23-06-2023 | 28.5366 | 30.0087 |
22-06-2023 | 28.5174 | 29.9879 |
21-06-2023 | 28.4971 | 29.966 |
20-06-2023 | 28.4774 | 29.9446 |
19-06-2023 | 28.4656 | 29.9317 |
16-06-2023 | 28.4632 | 29.9274 |
15-06-2023 | 28.4751 | 29.9393 |
14-06-2023 | 28.4611 | 29.9241 |
13-06-2023 | 28.4483 | 29.91 |
12-06-2023 | 28.442 | 29.9028 |
09-06-2023 | 28.4569 | 29.9168 |
08-06-2023 | 28.4389 | 29.8972 |
07-06-2023 | 28.4171 | 29.8737 |
06-06-2023 | 28.4177 | 29.8738 |
05-06-2023 | 28.4086 | 29.8637 |
02-06-2023 | 28.4001 | 29.853 |
01-06-2023 | 28.4172 | 29.8703 |
31-05-2023 | 28.3927 | 29.844 |
30-05-2023 | 28.405 | 29.8564 |
29-05-2023 | 28.3985 | 29.849 |
26-05-2023 | 28.4021 | 29.851 |
25-05-2023 | 28.3859 | 29.8334 |
24-05-2023 | 28.3888 | 29.8359 |
23-05-2023 | 28.3892 | 29.8357 |
22-05-2023 | 28.3737 | 29.8189 |
19-05-2023 | 28.3743 | 29.8178 |
18-05-2023 | 28.3565 | 29.7984 |
17-05-2023 | 28.3479 | 29.7888 |
16-05-2023 | 28.3446 | 29.7848 |
15-05-2023 | 28.324 | 29.7626 |
12-05-2023 | 28.3192 | 29.7558 |
11-05-2023 | 28.2969 | 29.7318 |
10-05-2023 | 28.3015 | 29.7361 |
09-05-2023 | 28.2957 | 29.7294 |
08-05-2023 | 28.2763 | 29.7084 |
05-05-2023 | 28.2926 | 29.7239 |
04-05-2023 | 28.2821 | 29.7122 |
03-05-2023 | 28.2662 | 29.6949 |
02-05-2023 | 28.2606 | 29.6884 |
28-04-2023 | 28.2631 | 29.6888 |
27-04-2023 | 28.2455 | 29.6697 |
26-04-2023 | 28.2445 | 29.6682 |
25-04-2023 | 28.2292 | 29.6515 |
Fund Launch Date: 01/Jun/2006 |
Fund Category: Arbitrage Fund |
Investment Objective: To generate income through arbitrage opportunities emerging out of mis-pricing between the cash market and the derivatives market and through deployment of surplus cash in fixed income instruments. |
Fund Description: Open Ended Hybrid Arbitrage Fund |
Fund Benchmark: Nifty 50 Arbitrage Index |
Disclaimer: NO INVESTMENT ADVICE. The Content is for informational purposes only.