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Top 3 Best Tax Saving ELSS Mutual Funds for 2023
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
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 Below is the key information for HDFC Long Term Advantage Fund Returns up to 1 year are on 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 Below is the key information for IDFC Tax Advantage (ELSS) Fund Returns up to 1 year are on 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 Below is the key information for BOI AXA Tax Advantage Fund Returns up to 1 year are on Fund NAV Net 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 -2.5 3.6 1.1 20.6 11.7 4.2 Principal Tax Savings Fund Growth ₹335.061
↓ -0.50 ₹965 -3.8 2.2 1.4 16.8 9.6 4.3 DSP BlackRock Tax Saver Fund Growth ₹82.396
↓ -0.17 ₹10,445 -1.8 2.7 1.3 15.9 12.2 4.5 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
CAGR/Annualized return of 21.4% since its launch. Ranked 23 in ELSS category. . 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.
Date Value 31 Jan 18 ₹10,000 31 Jan 19 ₹9,371 31 Jan 20 ₹10,280 31 Jan 21 ₹11,480
Purchase not allowed Returns for HDFC Long Term Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Jan 22 Duration Returns 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
Year Returns 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 Fund Manager information for HDFC Long Term Advantage Fund
Name Since Tenure Data below for HDFC Long Term Advantage Fund as on 30 Nov 21
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 2. IDFC Tax Advantage (ELSS) Fund
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% . 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.
Date Value 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 Returns for IDFC Tax Advantage (ELSS) Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Jan 22 Duration Returns 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
Year Returns 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
Name Since Tenure Daylynn Pinto 20 Oct 16 6.2 Yr. Data below for IDFC Tax Advantage (ELSS) Fund as on 31 Dec 22
Equity Sector Allocation
Sector Value Financial Services 28.12% Consumer Cyclical 15.31% Industrials 12.65% Basic Materials 9.92% Technology 9.43% Health Care 6.36% Energy 3.8% Consumer Defensive 3.34% Communication Services 2.8% Utility 1.36% Asset Allocation
Asset Class Value Cash 6.9% Equity 93.1% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK8% ₹339 Cr 3,800,000 State Bank of India (Financial Services)
Equity, Since 30 Jun 20 | SBIN5% ₹215 Cr 3,500,000 Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY5% ₹204 Cr 1,350,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK4% ₹171 Cr 1,050,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE4% ₹153 Cr 600,000
↑ 50,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 21 | AXISBANK3% ₹131 Cr 1,400,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL3% ₹113 Cr 1,400,000 Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 20 | TATAMOTORS3% ₹101 Cr 2,600,000 Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Jul 20 | M&M2% ₹100 Cr 800,000 Jindal Steel & Power Ltd (Basic Materials)
Equity, Since 31 Mar 18 | JINDALSTEL2% ₹99 Cr 1,700,000
↓ -50,000 3. BOI AXA Tax Advantage Fund
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% . 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.
Date Value 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 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Jan 22 Duration Returns 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
Year Returns 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
Name Since Tenure Alok Singh 27 Apr 22 0.68 Yr. Data below for BOI AXA Tax Advantage Fund as on 31 Dec 22
Equity Sector Allocation
Sector Value Financial Services 38.39% Consumer Cyclical 13.78% Industrials 11% Basic Materials 9.71% Consumer Defensive 7.59% Health Care 6.01% Energy 4.22% Technology 3.48% Utility 3.03% Real Estate 1.88% Communication Services 0.74% Asset Allocation
Asset Class Value Cash 0.17% Equity 99.83% Top Securities Holdings / Portfolio
Name Holding Value Quantity State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN7% ₹47 Cr 770,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK7% ₹47 Cr 529,340 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK6% ₹43 Cr 265,000
↑ 21,000 Canara Bank (Financial Services)
Equity, Since 31 Aug 22 | CANBK4% ₹30 Cr 895,000 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE3% ₹23 Cr 91,009 NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | NTPC3% ₹21 Cr 1,260,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | AXISBANK3% ₹19 Cr 204,000 UltraTech Cement Ltd (Basic Materials)
Equity, Since 30 Apr 22 | 5325382% ₹16 Cr 23,000
↑ 4,000 Balrampur Chini Mills Ltd (Consumer Defensive)
Equity, Since 30 Apr 22 | BALRAMCHIN2% ₹16 Cr 396,000 ITC Ltd (Consumer Defensive)
Equity, Since 31 May 22 | ITC2% ₹16 Cr 473,223
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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