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Top 3 Best performing ELSS (Tax Saving) Mutual Funds for 2023 | Fincash.com

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Top 3 Best Tax Saving ELSS Mutual Funds for 2023

Updated on February 5, 2023 , 4615 views

Best elss Funds or Equity Linked Savings Schemes (Tax Saving) are equity diversified Mutual Funds that majorly invest in equity-linked instruments (like shares and stocks) to provide Market-linked returns. Typically, 80% of the fund corpus is invested in equity and the remaining in debt instruments. Best ELSS funds are also known as the tax saving Mutual Funds as they offer tax benefits under Section 80C of the income tax Act. Moreover, the ELSS Mutual Funds are open-ended, which means that the investors can subscribe in these funds as and when they want. However, before Investing in these tax saving Mutual Funds, it is suggested to consider a list of best ELSS funds.

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Top 3 ELSS Funds To Invest In 2023

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2022 (%)
IDFC Tax Advantage (ELSS) Fund Growth ₹100.13
↑ 0.01
₹4,026-2.53.61.120.611.74.2
Principal Tax Savings Fund Growth ₹335.061
↓ -0.50
₹965-3.82.21.416.89.64.3
DSP BlackRock Tax Saver Fund Growth ₹82.396
↓ -0.17
₹10,445-1.82.71.315.912.24.5
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 7 Feb 23

1. HDFC Long Term Advantage Fund

To generate long term capital appreciation from a portfolio that is predominantly in equity and equity related instruments

HDFC Long Term Advantage Fund is a Equity - ELSS fund was launched on 2 Jan 01. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 21.4% since its launch.  Ranked 23 in ELSS category. .

Below is the key information for HDFC Long Term Advantage Fund

HDFC Long Term Advantage Fund
Growth
Launch Date 2 Jan 01
NAV (14 Jan 22) ₹595.168 ↑ 0.28   (0.05 %)
Net Assets (Cr) ₹1,318 on 30 Nov 21
Category Equity - ELSS
AMC HDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.25
Sharpe Ratio 2.27
Information Ratio -0.15
Alpha Ratio 1.75
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jan 18₹10,000
31 Jan 19₹9,371
31 Jan 20₹10,280
31 Jan 21₹11,480

HDFC Long Term Advantage Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹470,047.
Net Profit of ₹170,047
Invest Now

Purchase not allowed

Returns for HDFC Long Term Advantage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Jan 22

DurationReturns
1 Month 4.4%
3 Month 1.2%
6 Month 15.4%
1 Year 35.5%
3 Year 20.6%
5 Year 17.4%
10 Year
15 Year
Since launch 21.4%
Historical performance (Yearly) on absolute basis
YearReturns
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
Fund Manager information for HDFC Long Term Advantage Fund
NameSinceTenure

Data below for HDFC Long Term Advantage Fund as on 30 Nov 21

Equity Sector Allocation
SectorValue
Asset Allocation
Asset ClassValue
Top Securities Holdings / Portfolio
NameHoldingValueQuantity

2. IDFC Tax Advantage (ELSS) Fund

The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realised.

IDFC Tax Advantage (ELSS) Fund is a Equity - ELSS fund was launched on 26 Dec 08. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 17.7% since its launch.  Ranked 3 in ELSS category.  Return for 2022 was 4.2% , 2021 was 49.2% and 2020 was 18.7% .

Below is the key information for IDFC Tax Advantage (ELSS) Fund

IDFC Tax Advantage (ELSS) Fund
Growth
Launch Date 26 Dec 08
NAV (07 Feb 23) ₹100.13 ↑ 0.01   (0.01 %)
Net Assets (Cr) ₹4,026 on 31 Dec 22
Category Equity - ELSS
AMC IDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 1.95
Sharpe Ratio 0.03
Information Ratio 0.72
Alpha Ratio -0.51
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jan 18₹10,000
31 Jan 19₹8,614
31 Jan 20₹9,289
31 Jan 21₹10,943
31 Jan 22₹16,319
31 Jan 23₹16,535

IDFC Tax Advantage (ELSS) Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹405,518.
Net Profit of ₹105,518
Invest Now

Returns for IDFC Tax Advantage (ELSS) Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Jan 22

DurationReturns
1 Month -0.7%
3 Month -2.5%
6 Month 3.6%
1 Year 1.1%
3 Year 20.6%
5 Year 11.7%
10 Year
15 Year
Since launch 17.7%
Historical performance (Yearly) on absolute basis
YearReturns
2022 4.2%
2021 49.2%
2020 18.7%
2019 1.9%
2018 -9.4%
2017 53.4%
2016 0.4%
2015 6.9%
2014 42.2%
2013 15%
Fund Manager information for IDFC Tax Advantage (ELSS) Fund
NameSinceTenure
Daylynn Pinto20 Oct 166.2 Yr.

Data below for IDFC Tax Advantage (ELSS) Fund as on 31 Dec 22

Equity Sector Allocation
SectorValue
Financial Services28.12%
Consumer Cyclical15.31%
Industrials12.65%
Basic Materials9.92%
Technology9.43%
Health Care6.36%
Energy3.8%
Consumer Defensive3.34%
Communication Services2.8%
Utility1.36%
Asset Allocation
Asset ClassValue
Cash6.9%
Equity93.1%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK
8%₹339 Cr3,800,000
State Bank of India (Financial Services)
Equity, Since 30 Jun 20 | SBIN
5%₹215 Cr3,500,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY
5%₹204 Cr1,350,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK
4%₹171 Cr1,050,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE
4%₹153 Cr600,000
↑ 50,000
Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 21 | AXISBANK
3%₹131 Cr1,400,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL
3%₹113 Cr1,400,000
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 20 | TATAMOTORS
3%₹101 Cr2,600,000
Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Jul 20 | M&M
2%₹100 Cr800,000
Jindal Steel & Power Ltd (Basic Materials)
Equity, Since 31 Mar 18 | JINDALSTEL
2%₹99 Cr1,700,000
↓ -50,000

3. BOI AXA Tax Advantage Fund

The Scheme seeks to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities across all market capitalisations. The Scheme is in the nature of diversified multi-cap fund. The Scheme is not providing any assured or guaranteed returns.(There can be no assurance that the investment objectives of the Scheme will be realized.)

BOI AXA Tax Advantage Fund is a Equity - ELSS fund was launched on 25 Feb 09. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 17.9% since its launch.  Ranked 13 in ELSS category.  Return for 2022 was -1.3% , 2021 was 41.5% and 2020 was 31.2% .

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund
Growth
Launch Date 25 Feb 09
NAV (07 Feb 23) ₹98.88 ↓ -0.05   (-0.05 %)
Net Assets (Cr) ₹693 on 31 Dec 22
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.54
Sharpe Ratio -0.3
Information Ratio 0.6
Alpha Ratio -5.83
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jan 18₹10,000
31 Jan 19₹8,154
31 Jan 20₹10,084
31 Jan 21₹12,419
31 Jan 22₹17,256
31 Jan 23₹17,207

BOI AXA Tax Advantage Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹415,684.
Net Profit of ₹115,684
Invest Now

Returns for BOI AXA Tax Advantage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Jan 22

DurationReturns
1 Month -1.8%
3 Month -4.4%
6 Month 2.9%
1 Year 1.1%
3 Year 18.6%
5 Year 12.5%
10 Year
15 Year
Since launch 17.9%
Historical performance (Yearly) on absolute basis
YearReturns
2022 -1.3%
2021 41.5%
2020 31.2%
2019 14.6%
2018 -16.3%
2017 57.7%
2016 -1.2%
2015 2.1%
2014 44%
2013 9.1%
Fund Manager information for BOI AXA Tax Advantage Fund
NameSinceTenure
Alok Singh27 Apr 220.68 Yr.

Data below for BOI AXA Tax Advantage Fund as on 31 Dec 22

Equity Sector Allocation
SectorValue
Financial Services38.39%
Consumer Cyclical13.78%
Industrials11%
Basic Materials9.71%
Consumer Defensive7.59%
Health Care6.01%
Energy4.22%
Technology3.48%
Utility3.03%
Real Estate1.88%
Communication Services0.74%
Asset Allocation
Asset ClassValue
Cash0.17%
Equity99.83%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN
7%₹47 Cr770,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
7%₹47 Cr529,340
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
6%₹43 Cr265,000
↑ 21,000
Canara Bank (Financial Services)
Equity, Since 31 Aug 22 | CANBK
4%₹30 Cr895,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
3%₹23 Cr91,009
NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | NTPC
3%₹21 Cr1,260,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | AXISBANK
3%₹19 Cr204,000
UltraTech Cement Ltd (Basic Materials)
Equity, Since 30 Apr 22 | 532538
2%₹16 Cr23,000
↑ 4,000
Balrampur Chini Mills Ltd (Consumer Defensive)
Equity, Since 30 Apr 22 | BALRAMCHIN
2%₹16 Cr396,000
ITC Ltd (Consumer Defensive)
Equity, Since 31 May 22 | ITC
2%₹16 Cr473,223

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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