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Top 5 Best Tax Saving ELSS Mutual Funds for FY 22 - 23

Updated on October 4, 2022 , 6557 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.

Tax-Savings

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Top 5 ELSS Funds To Invest In FY 22 - 23

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2021 (%)
HDFC Long Term Advantage Fund Growth ₹595.168
↑ 0.28
₹1,3181.215.435.520.617.4
BOI AXA Tax Advantage Fund Growth ₹99.68
↑ 0.70
₹64513.40.5-2.6251441.5
PGIM India Tax Savings Fund Growth ₹23.88
↑ 0.15
₹4168.7-2.93.619.612.137.5
Invesco India Tax Plan Growth ₹77.43
↑ 0.19
₹1,9038.9-4.5-6.81611.432.6
LIC MF Tax Plan Growth ₹101.113
↑ 0.38
₹42511.60.7014.111.226.2
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 14 Jan 22
*List of ELSS Tax saving mutual funds having net assets > 250 Crore and haing best CAGR returns in last 5 yr

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
30 Sep 17₹10,000
30 Sep 18₹10,744
30 Sep 19₹11,412
30 Sep 20₹10,757
30 Sep 21₹17,891

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
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
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. 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 18.4% since its launch.  Ranked 13 in ELSS category.  Return for 2021 was 41.5% , 2020 was 31.2% and 2019 was 14.6% .

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund
Growth
Launch Date 25 Feb 09
NAV (06 Oct 22) ₹99.68 ↑ 0.70   (0.71 %)
Net Assets (Cr) ₹645 on 31 Aug 22
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.56
Sharpe Ratio -0.21
Information Ratio 0.68
Alpha Ratio -7.28
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 17₹10,000
30 Sep 18₹9,611
30 Sep 19₹10,457
30 Sep 20₹12,154
30 Sep 21₹20,152
30 Sep 22₹19,635

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 ₹436,710.
Net Profit of ₹136,710
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 -0.5%
3 Month 13.4%
6 Month 0.5%
1 Year -2.6%
3 Year 25%
5 Year 14%
10 Year
15 Year
Since launch 18.4%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2012 24.8%
Fund Manager information for BOI AXA Tax Advantage Fund
NameSinceTenure
Alok Singh27 Apr 220.35 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services32.19%
Consumer Cyclical19.21%
Basic Materials10.48%
Consumer Defensive8.2%
Industrials7.53%
Health Care5.97%
Energy3.72%
Technology3.69%
Utility3.2%
Real Estate2.23%
Communication Services0.72%
Asset Allocation
Asset ClassValue
Cash2.86%
Equity97.14%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
7%₹47 Cr529,340
State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN
6%₹36 Cr671,000
↑ 51,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
5%₹32 Cr214,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
4%₹24 Cr91,009
↓ -6,000
NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | 532555
3%₹21 Cr1,260,000
↑ 282,141
Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 May 22 | M&M
3%₹19 Cr142,000
↑ 17,000
Varun Beverages Ltd (Consumer Defensive)
Equity, Since 28 Feb 22 | VBL
3%₹17 Cr168,692
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK
3%₹17 Cr87,607
Schaeffler India Ltd (Consumer Cyclical)
Equity, Since 31 Jan 22 | SCHAEFFLER
3%₹17 Cr55,000
↑ 4,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | 532215
2%₹15 Cr204,000
↑ 41,972

3. PGIM India Tax Savings Fund

"The primary objective of the Scheme is to generate long-term capital appreciation by predominantly investing in equity & equity related instruments and to enable eligible investors to avail deduction from total income, as permitted under the Income Tax Act, 1961 as amended from time to time. However, there is no assurance that the investment objective shall be realize"

PGIM India Tax Savings Fund is a Equity - ELSS fund was launched on 11 Dec 15. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 13.6% since its launch.  Return for 2021 was 37.5% , 2020 was 17.9% and 2019 was 8.2% .

Below is the key information for PGIM India Tax Savings Fund

PGIM India Tax Savings Fund
Growth
Launch Date 11 Dec 15
NAV (06 Oct 22) ₹23.88 ↑ 0.15   (0.63 %)
Net Assets (Cr) ₹416 on 31 Aug 22
Category Equity - ELSS
AMC Pramerica Asset Managers Private Limited
Rating Not Rated
Risk Moderately High
Expense Ratio 2.46
Sharpe Ratio 0.29
Information Ratio -0.05
Alpha Ratio 0.96
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 17₹10,000
30 Sep 18₹10,401
30 Sep 19₹10,809
30 Sep 20₹10,492
30 Sep 21₹17,451
30 Sep 22₹17,784

PGIM India Tax Savings 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 PGIM India Tax Savings 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 -0.9%
3 Month 8.7%
6 Month -2.9%
1 Year 3.6%
3 Year 19.6%
5 Year 12.1%
10 Year
15 Year
Since launch 13.6%
Historical performance (Yearly) on absolute basis
YearReturns
2021 37.5%
2020 17.9%
2019 8.2%
2018 -6.4%
2017 39.3%
2016 1.7%
2015
2014
2013
2012
Fund Manager information for PGIM India Tax Savings Fund
NameSinceTenure
Srinivas Ravuri14 Sep 192.96 Yr.
Puneet Pal1 Dec 210.75 Yr.
Utkarsh Katkoria1 Jun 211.25 Yr.

Data below for PGIM India Tax Savings Fund as on 31 Aug 22

Equity Sector Allocation
SectorValue
Financial Services31.24%
Industrials9.59%
Health Care9.41%
Technology9.33%
Basic Materials8.4%
Energy7.41%
Consumer Cyclical5.89%
Communication Services5.83%
Utility3.52%
Consumer Defensive3.47%
Asset Allocation
Asset ClassValue
Cash5.9%
Equity94.1%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Jan 16 | ICICIBANK
8%₹33 Cr370,500
Reliance Industries Ltd (Energy)
Equity, Since 31 Aug 17 | RELIANCE
6%₹26 Cr99,750
Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY
6%₹24 Cr161,129
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
6%₹23 Cr154,200
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Sep 17 | LT
4%₹18 Cr95,664
Bharti Airtel Ltd (Communication Services)
Equity, Since 28 Feb 19 | BHARTIARTL
4%₹17 Cr240,805
UltraTech Cement Ltd (Basic Materials)
Equity, Since 31 Dec 21 | ULTRACEMCO
4%₹17 Cr25,785
Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 21 | 532215
4%₹16 Cr218,000
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
4%₹16 Cr294,174
ITC Ltd (Consumer Defensive)
Equity, Since 31 Aug 17 | ITC
3%₹14 Cr450,000

4. Invesco India Tax Plan

The investment objective of the Scheme is to generate long term capital growth from a diversified portfolio of predominantly equity and equity-related securities.

Invesco India Tax Plan is a Equity - ELSS fund was launched on 29 Dec 06. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 13.9% since its launch.  Ranked 17 in ELSS category.  Return for 2021 was 32.6% , 2020 was 19.2% and 2019 was 9.4% .

Below is the key information for Invesco India Tax Plan

Invesco India Tax Plan
Growth
Launch Date 29 Dec 06
NAV (06 Oct 22) ₹77.43 ↑ 0.19   (0.25 %)
Net Assets (Cr) ₹1,903 on 31 Aug 22
Category Equity - ELSS
AMC Invesco Asset Management (India) Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.11
Sharpe Ratio -0.23
Information Ratio -0.74
Alpha Ratio -7.72
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 17₹10,000
30 Sep 18₹11,010
30 Sep 19₹11,409
30 Sep 20₹11,879
30 Sep 21₹18,573
30 Sep 22₹17,142

Invesco India Tax Plan 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 Invesco India Tax Plan

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 8.9%
6 Month -4.5%
1 Year -6.8%
3 Year 16%
5 Year 11.4%
10 Year
15 Year
Since launch 13.9%
Historical performance (Yearly) on absolute basis
YearReturns
2021 32.6%
2020 19.2%
2019 9.4%
2018 -1.3%
2017 35.7%
2016 3.4%
2015 5.8%
2014 54.3%
2013 10.1%
2012 30.3%
Fund Manager information for Invesco India Tax Plan
NameSinceTenure
Amit Nigam3 Sep 201.99 Yr.
Dhimant Kothari29 Mar 184.43 Yr.

Data below for Invesco India Tax Plan as on 31 Aug 22

Equity Sector Allocation
SectorValue
Financial Services33.72%
Consumer Cyclical14.59%
Industrials11.71%
Technology10.71%
Basic Materials6.45%
Energy6.44%
Consumer Defensive4.97%
Health Care4.02%
Communication Services3.36%
Utility2.02%
Asset Allocation
Asset ClassValue
Cash2.02%
Equity97.98%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Apr 22 | HDFC
9%₹175 Cr716,980
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
8%₹159 Cr1,790,424
Infosys Ltd (Technology)
Equity, Since 31 Dec 19 | INFY
7%₹137 Cr915,648
Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 17 | RELIANCE
6%₹123 Cr464,434
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jul 19 | KOTAKBANK
4%₹71 Cr372,253
Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 532215
4%₹69 Cr917,340
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 21 | BHARTIARTL
3%₹64 Cr879,708
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Apr 22 | 540376
3%₹56 Cr123,883
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 Jul 21 | 500034
3%₹50 Cr68,359
↓ -6,541
KEI Industries Ltd (Industrials)
Equity, Since 30 Apr 21 | 517569
3%₹50 Cr337,835
↓ -64,853

5. LIC MF Tax Plan

The investment objective of the scheme is to provide capital growth along with tax rebate and tax relief to our investors through prudent investments in the stock markets. However, there is no assurance that the investment objective of the Scheme will be realised.

LIC MF Tax Plan is a Equity - ELSS fund was launched on 3 Feb 99. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 10.6% since its launch.  Ranked 35 in ELSS category.  Return for 2021 was 26.2% , 2020 was 8.9% and 2019 was 11.9% .

Below is the key information for LIC MF Tax Plan

LIC MF Tax Plan
Growth
Launch Date 3 Feb 99
NAV (06 Oct 22) ₹101.113 ↑ 0.38   (0.37 %)
Net Assets (Cr) ₹425 on 31 Aug 22
Category Equity - ELSS
AMC LIC Mutual Fund Asset Mgmt Co Ltd
Rating
Risk Moderately High
Expense Ratio 2.21
Sharpe Ratio 0.01
Information Ratio -0.93
Alpha Ratio -3.31
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 17₹10,000
30 Sep 18₹10,573
30 Sep 19₹11,883
30 Sep 20₹11,118
30 Sep 21₹17,163
30 Sep 22₹17,050

LIC MF Tax Plan 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 LIC MF Tax Plan

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 -0.3%
3 Month 11.6%
6 Month 0.7%
1 Year 0%
3 Year 14.1%
5 Year 11.2%
10 Year
15 Year
Since launch 10.6%
Historical performance (Yearly) on absolute basis
YearReturns
2021 26.2%
2020 8.9%
2019 11.9%
2018 -1.1%
2017 37.3%
2016 3.3%
2015 -3%
2014 49.1%
2013 8.2%
2012 26.3%
Fund Manager information for LIC MF Tax Plan
NameSinceTenure
Amit Nadekar6 Jun 220.24 Yr.

Data below for LIC MF Tax Plan as on 31 Aug 22

Equity Sector Allocation
SectorValue
Financial Services31.6%
Consumer Cyclical17.87%
Technology11.38%
Basic Materials8.46%
Consumer Defensive8.33%
Industrials6.03%
Health Care4.44%
Communication Services3.29%
Real Estate2.16%
Asset Allocation
Asset ClassValue
Cash5.91%
Equity94.09%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Jul 18 | ICICIBANK
9%₹39 Cr444,674
Infosys Ltd (Technology)
Equity, Since 31 Oct 14 | INFY
7%₹30 Cr203,312
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 14 | HDFCBANK
6%₹27 Cr181,519
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Apr 18 | 500034
4%₹17 Cr22,606
↑ 2,995
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 28 Feb 18 | 540376
4%₹16 Cr35,520
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Mar 18 | TCS
4%₹16 Cr49,539
Titan Co Ltd (Consumer Cyclical)
Equity, Since 30 Apr 20 | TITAN
2%₹10 Cr39,892
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Dec 19 | BHARTIARTL
2%₹10 Cr140,167
↓ -29,308
Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Jul 20 | M&M
2%₹10 Cr75,923
↑ 8,295
Brigade Enterprises Ltd (Real Estate)
Equity, Since 31 Jan 15 | 532929
2%₹9 Cr179,200

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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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