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Top 5 Best Tax Saving ELSS Mutual Funds for FY 24 - 25
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 5 ELSS Funds To Invest In FY 24 - 25
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) BOI AXA Tax Advantage Fund Growth ₹171.69
↑ 1.56 ₹1,428 10 24.2 53 22.2 29 34.8 Mahindra Mutual Fund Kar Bachat Yojana Growth ₹28.5
↑ 0.10 ₹867 11.6 18.4 31.6 18.4 20.9 25.8 Principal Tax Savings Fund Growth ₹492.217
↑ 0.81 ₹1,355 8.7 19.1 29.7 18.5 19.8 24.5 Edelweiss Long Term Equity Fund Growth ₹108.01
↑ 0.18 ₹380 12.6 19.1 35.1 18 19.4 26.8 BNP Paribas Long Term Equity Fund (ELSS) Growth ₹91.4676
↑ 0.34 ₹929 10.1 19.7 40.7 17.8 19.4 31.3 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 24
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 The investment objective of the Scheme is to generate long-term capital appreciation through a diversified portfolio of equity and equity related securities. The Scheme does not guarantee or assure any returns. Mahindra Mutual Fund Kar Bachat Yojana is a Equity - ELSS fund was launched on 18 Oct 16. It is a fund with Moderately High risk and has given a Below is the key information for Mahindra Mutual Fund Kar Bachat Yojana Returns up to 1 year are on 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 Below is the key information for Principal Tax Savings Fund Returns up to 1 year are on (Erstwhile Edelweiss ELSS Fund) The primary objective of the scheme is to generate long-term capital appreciation with an option of periodic payouts at the end of lock in periods from a portfolio that invests predominantly in equity and equity related instruments. Edelweiss Long Term Equity Fund is a Equity - ELSS fund was launched on 30 Dec 08. It is a fund with Moderately High risk and has given a Below is the key information for Edelweiss Long Term Equity Fund Returns up to 1 year are on The investment objective of the Scheme is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities along with income tax rebate, as may be prevalent fromtime to time. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns. BNP Paribas Long Term Equity Fund (ELSS) is a Equity - ELSS fund was launched on 5 Jan 06. It is a fund with Moderately High risk and has given a Below is the key information for BNP Paribas Long Term Equity Fund (ELSS) Returns up to 1 year are on 1. BOI AXA Tax Advantage Fund
CAGR/Annualized return of 20.3% since its launch. Ranked 13 in ELSS category. Return for 2023 was 34.8% , 2022 was -1.3% and 2021 was 41.5% . BOI AXA Tax Advantage Fund
Growth Launch Date 25 Feb 09 NAV (24 Jul 24) ₹171.69 ↑ 1.56 (0.92 %) Net Assets (Cr) ₹1,428 on 30 Jun 24 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.49 Sharpe Ratio 3.05 Information Ratio 0.71 Alpha Ratio 11.3 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Jun 19 ₹10,000 30 Jun 20 ₹10,045 30 Jun 21 ₹17,570 30 Jun 22 ₹16,756 30 Jun 23 ₹21,185 30 Jun 24 ₹33,488 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Jul 24 Duration Returns 1 Month 0.8% 3 Month 10% 6 Month 24.2% 1 Year 53% 3 Year 22.2% 5 Year 29% 10 Year 15 Year Since launch 20.3% Historical performance (Yearly) on absolute basis
Year Returns 2023 34.8% 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% Fund Manager information for BOI AXA Tax Advantage Fund
Name Since Tenure Alok Singh 27 Apr 22 2.18 Yr. Data below for BOI AXA Tax Advantage Fund as on 30 Jun 24
Equity Sector Allocation
Sector Value Financial Services 26.16% Industrials 20.51% Basic Materials 15.71% Consumer Cyclical 11.96% Energy 6.05% Technology 5.54% Utility 4.25% Consumer Defensive 3.95% Health Care 3.52% Real Estate 1.93% Asset Allocation
Asset Class Value Cash 0.38% Equity 99.59% Debt 0.04% Top Securities Holdings / Portfolio
Name Holding Value Quantity State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN4% ₹64 Cr 752,000 Vedanta Ltd (Basic Materials)
Equity, Since 31 Mar 24 | 5002954% ₹55 Cr 1,211,000 Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 31 Jul 23 | HAL4% ₹53 Cr 99,900 Oil India Ltd (Energy)
Equity, Since 31 Mar 23 | OIL4% ₹51 Cr 702,000 Canara Bank (Financial Services)
Equity, Since 31 Aug 22 | CANBK3% ₹42 Cr 3,500,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK3% ₹38 Cr 223,000 NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | NTPC3% ₹36 Cr 955,000 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE2% ₹36 Cr 114,000 Bank of Baroda (Financial Services)
Equity, Since 31 Oct 22 | BANKBARODA2% ₹35 Cr 1,286,338 UNO Minda Ltd (Consumer Cyclical)
Equity, Since 31 Aug 22 | UNOMINDA2% ₹32 Cr 290,000 2. Mahindra Mutual Fund Kar Bachat Yojana
CAGR/Annualized return of 14.4% since its launch. Return for 2023 was 25.8% , 2022 was 2% and 2021 was 39.4% . Mahindra Mutual Fund Kar Bachat Yojana
Growth Launch Date 18 Oct 16 NAV (24 Jul 24) ₹28.5 ↑ 0.10 (0.35 %) Net Assets (Cr) ₹867 on 31 May 24 Category Equity - ELSS AMC Mahindra Asset Management Company Pvt. Ltd. Rating Risk Moderately High Expense Ratio 2.48 Sharpe Ratio 1.93 Information Ratio -0.17 Alpha Ratio -2.57 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Jun 19 ₹10,000 30 Jun 20 ₹8,815 30 Jun 21 ₹14,443 30 Jun 22 ₹14,465 30 Jun 23 ₹18,195 30 Jun 24 ₹23,914 Returns for Mahindra Mutual Fund Kar Bachat Yojana
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Jul 24 Duration Returns 1 Month 4% 3 Month 11.6% 6 Month 18.4% 1 Year 31.6% 3 Year 18.4% 5 Year 20.9% 10 Year 15 Year Since launch 14.4% Historical performance (Yearly) on absolute basis
Year Returns 2023 25.8% 2022 2% 2021 39.4% 2020 14.1% 2019 4.5% 2018 -9.8% 2017 24.8% 2016 2015 2014 Fund Manager information for Mahindra Mutual Fund Kar Bachat Yojana
Name Since Tenure Manish Lodha 21 Dec 20 3.53 Yr. Fatema Pacha 16 Oct 20 3.71 Yr. Data below for Mahindra Mutual Fund Kar Bachat Yojana as on 31 May 24
Equity Sector Allocation
Sector Value Financial Services 28.66% Industrials 15.85% Consumer Cyclical 11.39% Technology 9.81% Consumer Defensive 9.2% Basic Materials 7.45% Energy 6.4% Health Care 3.29% Communication Services 2.71% Utility 2.47% Real Estate 0.8% Asset Allocation
Asset Class Value Cash 1.97% Equity 98.03% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 16 | HDFCBANK8% ₹72 Cr 472,876
↑ 41,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 19 | ICICIBANK8% ₹66 Cr 585,620
↑ 45,000 Infosys Ltd (Technology)
Equity, Since 29 Feb 20 | INFY5% ₹40 Cr 285,807 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Aug 18 | LT4% ₹36 Cr 97,771
↑ 19,200 Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 18 | RELIANCE4% ₹35 Cr 122,154
↓ -18,000 State Bank of India (Financial Services)
Equity, Since 29 Feb 24 | SBIN3% ₹25 Cr 304,000 Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 28 Feb 18 | MARUTI3% ₹25 Cr 20,039
↑ 1,963 Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 30 Apr 20 | HINDUNILVR3% ₹25 Cr 106,000
↑ 47,000 IndusInd Bank Ltd (Financial Services)
Equity, Since 30 Jun 22 | INDUSINDBK3% ₹24 Cr 165,300 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 May 19 | TCS3% ₹24 Cr 65,651 3. Principal Tax Savings Fund
CAGR/Annualized return of 16.4% since its launch. Ranked 8 in ELSS category. Return for 2023 was 24.5% , 2022 was 4.3% and 2021 was 32.1% . Principal Tax Savings Fund
Growth Launch Date 31 Mar 96 NAV (24 Jul 24) ₹492.217 ↑ 0.81 (0.16 %) Net Assets (Cr) ₹1,355 on 30 Jun 24 Category Equity - ELSS AMC Principal Pnb Asset Mgmt. Co. Priv. Ltd. Rating ☆☆☆☆ Risk Moderately High Expense Ratio 2.36 Sharpe Ratio 2.06 Information Ratio -0.35 Alpha Ratio -1.66 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Jun 19 ₹10,000 30 Jun 20 ₹8,760 30 Jun 21 ₹13,931 30 Jun 22 ₹14,282 30 Jun 23 ₹17,621 30 Jun 24 ₹23,307 Returns for Principal Tax Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Jul 24 Duration Returns 1 Month 2.2% 3 Month 8.7% 6 Month 19.1% 1 Year 29.7% 3 Year 18.5% 5 Year 19.8% 10 Year 15 Year Since launch 16.4% Historical performance (Yearly) on absolute basis
Year Returns 2023 24.5% 2022 4.3% 2021 32.1% 2020 18.9% 2019 2.5% 2018 -9.2% 2017 48.8% 2016 6.2% 2015 2.7% 2014 49.4% Fund Manager information for Principal Tax Savings Fund
Name Since Tenure Sudhir Kedia 29 Oct 19 4.68 Yr. Rohit Seksaria 1 Jan 22 2.5 Yr. Data below for Principal Tax Savings Fund as on 30 Jun 24
Equity Sector Allocation
Sector Value Financial Services 31.48% Industrials 12.04% Consumer Cyclical 10.43% Technology 9.35% Consumer Defensive 8.06% Health Care 7.35% Energy 6.77% Communication Services 5.42% Basic Materials 4.91% Real Estate 0.5% Asset Allocation
Asset Class Value Cash 3.67% Equity 96.33% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 09 | HDFCBANK8% ₹102 Cr 606,077 Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 21 | RELIANCE6% ₹86 Cr 274,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK6% ₹79 Cr 661,000 Infosys Ltd (Technology)
Equity, Since 31 Jan 09 | INFY4% ₹49 Cr 313,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 17 | AXISBANK3% ₹39 Cr 311,000 State Bank of India (Financial Services)
Equity, Since 30 Apr 05 | SBIN3% ₹38 Cr 444,000 Force Motors Ltd (Consumer Cyclical)
Equity, Since 30 Nov 21 | 5000333% ₹35 Cr 39,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Mar 13 | LT3% ₹34 Cr 96,021
↑ 7,000 Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 31 Aug 15 | SUNPHARMA2% ₹30 Cr 200,000 Bharti Airtel Ltd (Partly Paid Rs.1.25) (Communication Services)
Equity, Since 30 Nov 21 | 8901572% ₹30 Cr 283,000 4. Edelweiss Long Term Equity Fund
CAGR/Annualized return of 16.5% since its launch. Ranked 25 in ELSS category. Return for 2023 was 26.8% , 2022 was -0.1% and 2021 was 30.4% . Edelweiss Long Term Equity Fund
Growth Launch Date 30 Dec 08 NAV (24 Jul 24) ₹108.01 ↑ 0.18 (0.17 %) Net Assets (Cr) ₹380 on 30 Jun 24 Category Equity - ELSS AMC Edelweiss Asset Management Limited Rating ☆☆ Risk Moderately High Expense Ratio 2.42 Sharpe Ratio 2.22 Information Ratio -0.19 Alpha Ratio -1.06 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Jun 19 ₹10,000 30 Jun 20 ₹8,682 30 Jun 21 ₹13,425 30 Jun 22 ₹13,355 30 Jun 23 ₹16,543 30 Jun 24 ₹22,769 Returns for Edelweiss Long Term Equity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Jul 24 Duration Returns 1 Month 1.9% 3 Month 12.6% 6 Month 19.1% 1 Year 35.1% 3 Year 18% 5 Year 19.4% 10 Year 15 Year Since launch 16.5% Historical performance (Yearly) on absolute basis
Year Returns 2023 26.8% 2022 -0.1% 2021 30.4% 2020 13.7% 2019 9.2% 2018 -9.1% 2017 37.7% 2016 -1.1% 2015 6.7% 2014 40.5% Fund Manager information for Edelweiss Long Term Equity Fund
Name Since Tenure Ashwani Agarwalla 1 Aug 23 0.92 Yr. Trideep Bhattacharya 1 Aug 23 0.92 Yr. Data below for Edelweiss Long Term Equity Fund as on 30 Jun 24
Equity Sector Allocation
Sector Value Financial Services 31.73% Industrials 16.55% Consumer Cyclical 12.39% Technology 9.62% Energy 5.71% Health Care 5.58% Basic Materials 5.17% Consumer Defensive 5.09% Communication Services 2.33% Utility 2.19% Real Estate 1.9% Asset Allocation
Asset Class Value Cash 1.72% Equity 98.28% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 10 | HDFCBANK6% ₹22 Cr 132,882 ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 17 | ICICIBANK5% ₹20 Cr 163,216 Reliance Industries Ltd (Energy)
Equity, Since 30 Jun 15 | RELIANCE4% ₹17 Cr 54,330 State Bank of India (Financial Services)
Equity, Since 31 May 18 | SBIN3% ₹13 Cr 149,214 Trent Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | TRENT3% ₹13 Cr 22,899 Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Sep 15 | LT3% ₹12 Cr 33,431
↓ -17,826 UltraTech Cement Ltd (Basic Materials)
Equity, Since 31 May 19 | ULTRACEMCO2% ₹9 Cr 7,910 Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY2% ₹9 Cr 57,943 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Oct 19 | BHARTIARTL2% ₹9 Cr 61,438 Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | AXISBANK2% ₹9 Cr 69,282
↓ -8,824 5. BNP Paribas Long Term Equity Fund (ELSS)
CAGR/Annualized return of 12.7% since its launch. Ranked 22 in ELSS category. Return for 2023 was 31.3% , 2022 was -2.1% and 2021 was 23.6% . BNP Paribas Long Term Equity Fund (ELSS)
Growth Launch Date 5 Jan 06 NAV (24 Jul 24) ₹91.4676 ↑ 0.34 (0.37 %) Net Assets (Cr) ₹929 on 30 Jun 24 Category Equity - ELSS AMC BNP Paribas Asset Mgmt India Pvt. Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.37 Sharpe Ratio 2.34 Information Ratio 0 Alpha Ratio 0 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Jun 19 ₹10,000 30 Jun 20 ₹9,513 30 Jun 21 ₹14,033 30 Jun 22 ₹13,303 30 Jun 23 ₹16,290 30 Jun 24 ₹23,145 Returns for BNP Paribas Long Term Equity Fund (ELSS)
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Jul 24 Duration Returns 1 Month 2.7% 3 Month 10.1% 6 Month 19.7% 1 Year 40.7% 3 Year 17.8% 5 Year 19.4% 10 Year 15 Year Since launch 12.7% Historical performance (Yearly) on absolute basis
Year Returns 2023 31.3% 2022 -2.1% 2021 23.6% 2020 17.8% 2019 14.3% 2018 -9.3% 2017 42.3% 2016 -6.6% 2015 7.7% 2014 53% Fund Manager information for BNP Paribas Long Term Equity Fund (ELSS)
Name Since Tenure Sanjay Chawla 14 Mar 22 2.3 Yr. Pratish Krishnan 14 Mar 22 2.3 Yr. Miten Vora 1 Dec 22 1.58 Yr. Data below for BNP Paribas Long Term Equity Fund (ELSS) as on 30 Jun 24
Equity Sector Allocation
Sector Value Financial Services 29.26% Industrials 13.51% Technology 12.64% Consumer Cyclical 11% Health Care 5.24% Communication Services 4.95% Basic Materials 4.89% Consumer Defensive 4.75% Energy 4.6% Utility 3.28% Real Estate 3.11% Asset Allocation
Asset Class Value Cash 2.76% Equity 97.24% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFCBANK6% ₹56 Cr 333,160
↑ 25,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 12 | ICICIBANK5% ₹48 Cr 396,000
↑ 25,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Oct 18 | RELIANCE5% ₹43 Cr 136,600
↑ 15,000 Infosys Ltd (Technology)
Equity, Since 29 Feb 24 | INFY3% ₹31 Cr 195,000
↑ 75,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | AXISBANK3% ₹28 Cr 225,000
↑ 35,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 23 | 5433203% ₹26 Cr 1,277,813
↓ -67,200 Trent Ltd (Consumer Cyclical)
Equity, Since 31 May 22 | TRENT3% ₹24 Cr 44,614
↓ -5,000 PB Fintech Ltd (Financial Services)
Equity, Since 29 Feb 24 | 5433903% ₹24 Cr 171,000
↓ -19,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jan 23 | TCS2% ₹22 Cr 55,120 Mphasis Ltd (Technology)
Equity, Since 31 Aug 23 | MPHASIS2% ₹21 Cr 84,000
↑ 35,500
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