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Top 5 Best Tax Saving ELSS Mutual Funds for FY 21 - 22

Updated on September 22, 2021 , 3450 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 21 - 22

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2020 (%)
BOI AXA Tax Advantage Fund Growth ₹102.79
↓ -0.26
₹51216.532.977.227.22031.2
Invesco India Tax Plan Growth ₹83.76
↑ 0.15
₹1,84213.325.763.419.216.319.2
HDFC Long Term Advantage Fund Growth ₹561.864
↑ 0.20
₹1,3631225.772.918.315.811.5
PGIM India Tax Savings Fund Growth ₹23.19
↑ 0.05
₹35811.326.573.3191517.9
Principal Tax Savings Fund Growth ₹326.39
↓ -1.06
₹58312.625.970.916.814.718.9
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Sep 21
*List of ELSS Tax saving mutual funds having net assets > 250 Crore and haing best CAGR returns in last 5 yr

1. 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 20.4% since its launch.  Ranked 13 in ELSS category.  Return for 2020 was 31.2% , 2019 was 14.6% and 2018 was -16.3% .

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund
Growth
Launch Date 25 Feb 09
NAV (24 Sep 21) ₹102.79 ↓ -0.26   (-0.25 %)
Net Assets (Cr) ₹512 on 31 Aug 21
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.56
Sharpe Ratio 4.47
Information Ratio 0.69
Alpha Ratio 22.44
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Aug 16₹10,000
31 Aug 17₹12,118
31 Aug 18₹13,858
31 Aug 19₹11,934
31 Aug 20₹14,357
31 Aug 21₹24,318

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 ₹505,644.
Net Profit of ₹205,644
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 24 Sep 21

DurationReturns
1 Month 7.9%
3 Month 16.5%
6 Month 32.9%
1 Year 77.2%
3 Year 27.2%
5 Year 20%
10 Year
15 Year
Since launch 20.4%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2011 -24.1%
Fund Manager information for BOI AXA Tax Advantage Fund
NameSinceTenure
Aakash Manghani15 Jul 192.05 Yr.

Data below for BOI AXA Tax Advantage Fund as on 31 Aug 21

Equity Sector Allocation
SectorValue
Financial Services23.77%
Basic Materials21.46%
Technology16.22%
Health Care14.72%
Consumer Cyclical9.84%
Consumer Defensive3.49%
Communication Services3.41%
Industrials3.22%
Energy1.75%
Utility1.49%
Asset Allocation
Asset ClassValue
Cash0.63%
Equity99.37%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
5%₹25 Cr361,176
↑ 30,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
4%₹21 Cr145,982
↓ -18,168
Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY
4%₹19 Cr118,505
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB
4%₹19 Cr38,259
Laurus Labs Ltd (Healthcare)
Equity, Since 30 Jun 20 | 540222
3%₹15 Cr236,350
↓ -30,000
PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND
3%₹15 Cr51,325
Coforge Ltd Shs Dematerialised (Technology)
Equity, Since 31 Jul 20 | 532541
3%₹15 Cr28,640
↑ 1,000
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 18 | 500034
3%₹14 Cr22,229
↑ 2,780
Navin Fluorine International Ltd (Basic Materials)
Equity, Since 31 Jul 19 | 532504
2%₹12 Cr31,892
↓ -1,100
Deepak Nitrite Ltd (Basic Materials)
Equity, Since 31 Aug 20 | 506401
2%₹11 Cr54,523
↑ 2,200

2. 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 15.5% since its launch.  Ranked 17 in ELSS category.  Return for 2020 was 19.2% , 2019 was 9.4% and 2018 was -1.3% .

Below is the key information for Invesco India Tax Plan

Invesco India Tax Plan
Growth
Launch Date 29 Dec 06
NAV (24 Sep 21) ₹83.76 ↑ 0.15   (0.18 %)
Net Assets (Cr) ₹1,842 on 31 Aug 21
Category Equity - ELSS
AMC Invesco Asset Management (India) Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.08
Sharpe Ratio 3.2
Information Ratio -0.18
Alpha Ratio 6.89
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Aug 16₹10,000
31 Aug 17₹11,379
31 Aug 18₹13,705
31 Aug 19₹12,416
31 Aug 20₹13,369
31 Aug 21₹20,344

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 ₹458,689.
Net Profit of ₹158,689
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 24 Sep 21

DurationReturns
1 Month 7.7%
3 Month 13.3%
6 Month 25.7%
1 Year 63.4%
3 Year 19.2%
5 Year 16.3%
10 Year
15 Year
Since launch 15.5%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2011 -18.9%
Fund Manager information for Invesco India Tax Plan
NameSinceTenure
Amit Nigam3 Sep 200.91 Yr.
Dhimant Kothari29 Mar 183.35 Yr.

Data below for Invesco India Tax Plan as on 31 Aug 21

Equity Sector Allocation
SectorValue
Financial Services31.54%
Technology16.72%
Consumer Cyclical12.43%
Industrials10.18%
Basic Materials10.15%
Energy7.99%
Health Care4.44%
Utility3.86%
Consumer Defensive1.41%
Asset Allocation
Asset ClassValue
Cash1.29%
Equity98.71%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 Mar 17 | RELIANCE
8%₹142 Cr696,659
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
8%₹139 Cr2,031,464
Infosys Ltd (Technology)
Equity, Since 31 Dec 19 | INFY
7%₹133 Cr824,204
HDFC Bank Ltd (Financial Services)
Equity, Since 28 Feb 09 | HDFCBANK
7%₹130 Cr913,263
Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 532215
4%₹72 Cr1,016,758
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jul 19 | KOTAKBANK
3%₹62 Cr373,623
Tech Mahindra Ltd (Technology)
Equity, Since 31 Oct 20 | 532755
3%₹54 Cr448,931
L&T Technology Services Ltd (Technology)
Equity, Since 31 Aug 20 | LTTS
3%₹49 Cr131,842
Tata Steel Ltd (Basic Materials)
Equity, Since 30 Apr 21 | TATASTEEL
2%₹43 Cr299,503
↓ -56,005
Bajaj Auto Ltd (Consumer Cyclical)
Equity, Since 31 Mar 20 | 532977
2%₹40 Cr105,755
↓ -27,862

3. 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 21.5% since its launch.  Ranked 23 in ELSS category.  Return for 2020 was 11.5% , 2019 was 10.1% and 2018 was -3.9% .

Below is the key information for HDFC Long Term Advantage Fund

HDFC Long Term Advantage Fund
Growth
Launch Date 2 Jan 01
NAV (24 Sep 21) ₹561.864 ↑ 0.20   (0.03 %)
Net Assets (Cr) ₹1,363 on 31 Aug 21
Category Equity - ELSS
AMC HDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.25
Sharpe Ratio 2.51
Information Ratio -0.1
Alpha Ratio 8.34
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Aug 16₹10,000
31 Aug 17₹11,926
31 Aug 18₹13,427
31 Aug 19₹12,682
31 Aug 20₹12,863
31 Aug 21₹20,367

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 ₹447,579.
Net Profit of ₹147,579
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 24 Sep 21

DurationReturns
1 Month 6.3%
3 Month 12%
6 Month 25.7%
1 Year 72.9%
3 Year 18.3%
5 Year 15.8%
10 Year
15 Year
Since launch 21.5%
Historical performance (Yearly) on absolute basis
YearReturns
2020 11.5%
2019 10.1%
2018 -3.9%
2017 36.2%
2016 13%
2015 -2.4%
2014 44.7%
2013 11%
2012 28.8%
2011 -23.5%
Fund Manager information for HDFC Long Term Advantage Fund
NameSinceTenure
Chirag Setalvad2 Apr 0714.34 Yr.

Data below for HDFC Long Term Advantage Fund as on 31 Aug 21

Equity Sector Allocation
SectorValue
Financial Services35.68%
Industrials17.76%
Technology14.97%
Energy11.53%
Consumer Defensive4.5%
Basic Materials4.47%
Health Care2.8%
Utility2.61%
Consumer Cyclical2.35%
Communication Services2.21%
Asset Allocation
Asset ClassValue
Cash1.12%
Equity98.88%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
10%₹130 Cr1,900,000
↓ -100,000
Infosys Ltd (Technology)
Equity, Since 30 Nov 06 | INFY
9%₹121 Cr750,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Jun 13 | HDFCBANK
9%₹114 Cr800,000
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 Jul 05 | RELIANCE
8%₹106 Cr520,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFC
7%₹98 Cr400,000
Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Oct 07 | LT
7%₹97 Cr607,500
State Bank of India (Financial Services)
Equity, Since 31 Jan 03 | SBIN
7%₹91 Cr2,100,000
Carborundum Universal Ltd (Industrials)
Equity, Since 30 Jun 03 | 513375
5%₹68 Cr1,010,413
↓ -16,354
Redington (India) Ltd (Technology)
Equity, Since 31 Jul 15 | 532805
5%₹64 Cr1,951,513
ITC Ltd (Consumer Defensive)
Equity, Since 31 Oct 05 | ITC
4%₹58 Cr2,822,910

4. 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 15.6% since its launch.  Return for 2020 was 17.9% , 2019 was 8.2% and 2018 was -6.4% .

Below is the key information for PGIM India Tax Savings Fund

PGIM India Tax Savings Fund
Growth
Launch Date 11 Dec 15
NAV (24 Sep 21) ₹23.19 ↑ 0.05   (0.22 %)
Net Assets (Cr) ₹358 on 31 Aug 21
Category Equity - ELSS
AMC Pramerica Asset Managers Private Limited
Rating Not Rated
Risk Moderately High
Expense Ratio 2.46
Sharpe Ratio 3.01
Information Ratio 0.02
Alpha Ratio 4.61
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Aug 16₹10,000
31 Aug 17₹11,671
31 Aug 18₹12,861
31 Aug 19₹11,977
31 Aug 20₹12,388
31 Aug 21₹19,589

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 ₹436,710.
Net Profit of ₹136,710
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 24 Sep 21

DurationReturns
1 Month 6.5%
3 Month 11.3%
6 Month 26.5%
1 Year 73.3%
3 Year 19%
5 Year 15%
10 Year
15 Year
Since launch 15.6%
Historical performance (Yearly) on absolute basis
YearReturns
2020 17.9%
2019 8.2%
2018 -6.4%
2017 39.3%
2016 1.7%
2015
2014
2013
2012
2011
Fund Manager information for PGIM India Tax Savings Fund
NameSinceTenure
Srinivas Ravuri14 Sep 191.88 Yr.
Utkarsh Katkoria1 Jun 210.17 Yr.

Data below for PGIM India Tax Savings Fund as on 31 Aug 21

Equity Sector Allocation
SectorValue
Financial Services28.82%
Technology15.48%
Industrials10.77%
Health Care9.95%
Consumer Cyclical9.51%
Energy6.11%
Consumer Defensive5.08%
Utility4.89%
Communication Services4.39%
Basic Materials3.74%
Asset Allocation
Asset ClassValue
Cash1.26%
Equity98.74%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Jan 16 | ICICIBANK
8%₹29 Cr419,500
↓ -27,000
Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY
8%₹27 Cr168,129
↓ -23,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
5%₹19 Cr133,200
↑ 11,000
Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 30 Sep 17 | LT
5%₹18 Cr113,664
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
5%₹17 Cr404,174
Bharti Airtel Ltd (Communication Services)
Equity, Since 28 Feb 19 | BHARTIARTL
4%₹15 Cr272,805
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 Aug 17 | RELIANCE
4%₹14 Cr68,250
↓ -25,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Oct 17 | HDFC
4%₹12 Cr50,700
↓ -7,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Dec 17 | TCS
3%₹12 Cr37,500
Praj Industries Ltd (Industrials)
Equity, Since 31 Oct 19 | 522205
3%₹11 Cr313,356

5. Principal Tax Savings Fund

To build a high quality growth-oriented portfolio to provide long-term capital gains to the investors, the scheme aims at providing returns through capital appreciation.

Principal Tax Savings Fund is a Equity - ELSS fund was launched on 31 Mar 96. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 16.5% since its launch.  Ranked 8 in ELSS category.  Return for 2020 was 18.9% , 2019 was 2.5% and 2018 was -9.2% .

Below is the key information for Principal Tax Savings Fund

Principal Tax Savings Fund
Growth
Launch Date 31 Mar 96
NAV (24 Sep 21) ₹326.39 ↓ -1.06   (-0.32 %)
Net Assets (Cr) ₹583 on 31 Aug 21
Category Equity - ELSS
AMC Principal Pnb Asset Mgmt. Co. Priv. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.55
Sharpe Ratio 2.94
Information Ratio -0.83
Alpha Ratio 0.01
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Aug 16₹10,000
31 Aug 17₹12,198
31 Aug 18₹13,823
31 Aug 19₹11,947
31 Aug 20₹12,605
31 Aug 21₹19,530

Principal 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 ₹436,710.
Net Profit of ₹136,710
Invest Now

Returns for Principal 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 24 Sep 21

DurationReturns
1 Month 8.2%
3 Month 12.6%
6 Month 25.9%
1 Year 70.9%
3 Year 16.8%
5 Year 14.7%
10 Year
15 Year
Since launch 16.5%
Historical performance (Yearly) on absolute basis
YearReturns
2020 18.9%
2019 2.5%
2018 -9.2%
2017 48.8%
2016 6.2%
2015 2.7%
2014 49.4%
2013 8.5%
2012 46.5%
2011 -30.4%
Fund Manager information for Principal Tax Savings Fund
NameSinceTenure
Sudhir Kedia29 Oct 191.76 Yr.

Data below for Principal Tax Savings Fund as on 31 Aug 21

Equity Sector Allocation
SectorValue
Financial Services34.14%
Technology14.28%
Consumer Cyclical12.01%
Industrials8.88%
Consumer Defensive6.81%
Basic Materials5.29%
Health Care5.02%
Communication Services4.87%
Utility1.03%
Real Estate1.02%
Energy0.9%
Asset Allocation
Asset ClassValue
Cash2.69%
Equity97.3%
Debt0.01%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
8%₹45 Cr665,990
Infosys Ltd (Technology)
Equity, Since 31 Jan 09 | INFY
7%₹40 Cr250,459
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 09 | HDFCBANK
5%₹30 Cr212,741
Polycab India Ltd (Industrials)
Equity, Since 30 Nov 20 | 542652
4%₹21 Cr112,670
State Bank of India (Financial Services)
Equity, Since 30 Apr 05 | SBIN
3%₹17 Cr396,310
Reliance Industries Ltd.
Equity, Since 30 Jun 21 | -
3%₹17 Cr118,720
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 31 Oct 19 | MARUTI
3%₹17 Cr23,703
Tata Steel Ltd (Basic Materials)
Equity, Since 30 Apr 21 | TATASTEEL
3%₹16 Cr111,372
Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 17 | 532215
3%₹16 Cr219,595
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 18 | BHARTIARTL
3%₹15 Cr269,710

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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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