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

Updated on May 18, 2022 , 6030 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 5 ELSS Funds To Invest In FY 22 - 23

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	5 YR (%)	2021 (%)
HDFC Long Term Advantage Fund Growth	₹595.168 ↑ 0.28	₹1,318	1.2	15.4	35.5	20.6	17.4
BOI AXA Tax Advantage Fund Growth	₹88.42 ↑ 1.66	₹596	-7.3	-14.2	7	20.5	14.8	41.5
PGIM India Tax Savings Fund Growth	₹22.2 ↑ 0.49	₹388	-5.4	-6.1	12.1	15.4	11.8	37.5
Invesco India Tax Plan Growth	₹72.27 ↑ 1.57	₹1,829	-9.9	-15.5	3.1	12.5	11.3	32.6
Principal Tax Savings Fund Growth	₹302.727 ↑ 7.10	₹920	-6.6	-10.1	11.9	13.3	10.3	32.1
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.

Date	Value
30 Apr 17	₹10,000
30 Apr 18	₹11,443
30 Apr 19	₹12,077
30 Apr 20	₹9,802
30 Apr 21	₹15,152

HDFC Long Term Advantage Fund SIP 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

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
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012

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. 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 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 (20 May 22)	₹88.42 ↑ 1.66 (1.91 %)
Net Assets (Cr)	₹596 on 30 Apr 22
Category	Equity - ELSS
AMC	BOI AXA Investment Mngrs Private Ltd
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	2.56
Sharpe Ratio	1.03
Information Ratio	0.94
Alpha Ratio	-0.83
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Apr 17	₹10,000
30 Apr 18	₹13,257
30 Apr 19	₹11,300
30 Apr 20	₹11,490
30 Apr 21	₹18,481
30 Apr 22	₹21,652

BOI AXA Tax Advantage Fund SIP 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

Duration	Returns
1 Month	-8%
3 Month	-7.3%
6 Month	-14.2%
1 Year	7%
3 Year	20.5%
5 Year	14.8%
10 Year
15 Year
Since launch	17.9%

Historical performance (Yearly) on absolute basis

Year	Returns
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

Name	Since	Tenure
Aakash Manghani	15 Jul 19	2.8 Yr.
Alok Singh	27 Apr 22	0.01 Yr.

Data below for BOI AXA Tax Advantage Fund as on 30 Apr 22

Equity Sector Allocation

Sector	Value
Financial Services	31.31%
Technology	13.96%
Consumer Cyclical	13.9%
Basic Materials	12.71%
Health Care	7.42%
Industrials	6.93%
Consumer Defensive	3.58%
Energy	3.31%
Communication Services	2.66%
Real Estate	1.01%

Asset Allocation

Asset Class	Value
Cash	3.12%
Equity	96.79%
Debt	0.09%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 18 \| ICICIBANK	6%	₹39 Cr	519,840 ↑ 46,659
HDFC Bank Ltd (Financial Services) Equity, Since 31 Dec 10 \| HDFCBANK	5%	₹28 Cr	202,169 ↓ -8,457
Reliance Industries Ltd (Energy) Equity, Since 30 Nov 18 \| RELIANCE	4%	₹25 Cr	87,880 ↑ 13,500
Infosys Ltd (Technology) Equity, Since 30 Jun 20 \| INFY	4%	₹24 Cr	155,489 ↓ -4,381
Bajaj Finance Ltd (Financial Services) Equity, Since 31 May 18 \| BAJFINANCE	3%	₹19 Cr	28,188 ↓ -4,398
State Bank of India (Financial Services) Equity, Since 31 Oct 21 \| SBIN	3%	₹16 Cr	330,426 ↑ 56,427
Cholamandalam Investment and Finance Co Ltd (Financial Services) Equity, Since 31 Jan 18 \| CHOLAFIN	3%	₹16 Cr	212,404
Kotak Mahindra Bank Ltd (Financial Services) Equity, Since 30 Sep 18 \| KOTAKBANK	2%	₹13 Cr	75,364 ↓ -4,000
Varun Beverages Ltd (Consumer Defensive) Equity, Since 28 Feb 22 \| VBL	2%	₹11 Cr	104,928 ↑ 26,533
Axis Bank Ltd (Financial Services) Equity, Since 31 Jan 22 \| AXISBANK	2%	₹11 Cr	154,028 ↑ 9,000

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 13.2% 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 (20 May 22)	₹22.2 ↑ 0.49 (2.26 %)
Net Assets (Cr)	₹388 on 30 Apr 22
Category	Equity - ELSS
AMC	Pramerica Asset Managers Private Limited
Rating	Not Rated
Risk	Moderately High
Expense Ratio	2.46
Sharpe Ratio	1.57
Information Ratio	0.32
Alpha Ratio	3.84
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Apr 17	₹10,000
30 Apr 18	₹11,334
30 Apr 19	₹11,365
30 Apr 20	₹9,629
30 Apr 21	₹14,925
30 Apr 22	₹18,579

PGIM India Tax Savings Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹405,518.
Net Profit of ₹105,518 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

Duration	Returns
1 Month	-6.8%
3 Month	-5.4%
6 Month	-6.1%
1 Year	12.1%
3 Year	15.4%
5 Year	11.8%
10 Year
15 Year
Since launch	13.2%

Historical performance (Yearly) on absolute basis

Year	Returns
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

Name	Since	Tenure
Srinivas Ravuri	14 Sep 19	2.63 Yr.
Puneet Pal	1 Dec 21	0.41 Yr.
Utkarsh Katkoria	1 Jun 21	0.91 Yr.

Data below for PGIM India Tax Savings Fund as on 30 Apr 22

Equity Sector Allocation

Sector	Value
Financial Services	25.44%
Technology	13.48%
Industrials	11.26%
Health Care	9.24%
Consumer Cyclical	7.55%
Utility	6.82%
Basic Materials	6.35%
Energy	5.99%
Communication Services	5.96%
Consumer Defensive	2.94%

Asset Allocation

Asset Class	Value
Cash	4.98%
Equity	95.02%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Infosys Ltd (Technology) Equity, Since 31 Dec 15 \| INFY	7%	₹28 Cr	147,129
ICICI Bank Ltd (Financial Services) Equity, Since 31 Jan 16 \| ICICIBANK	7%	₹27 Cr	370,500
Bharti Airtel Ltd (Communication Services) Equity, Since 28 Feb 19 \| BHARTIARTL	5%	₹18 Cr	240,805
Larsen & Toubro Ltd (Industrials) Equity, Since 30 Sep 17 \| LT	4%	₹17 Cr	95,664
Reliance Industries Ltd (Energy) Equity, Since 31 Aug 17 \| RELIANCE	4%	₹15 Cr	58,250
Axis Bank Ltd (Financial Services) Equity, Since 30 Nov 21 \| 532215	4%	₹15 Cr	195,000 ↑ 25,000
HDFC Bank Ltd (Financial Services) Equity, Since 31 Dec 15 \| HDFCBANK	4%	₹15 Cr	100,200
State Bank of India (Financial Services) Equity, Since 31 Oct 18 \| SBIN	4%	₹15 Cr	294,174
GAIL (India) Ltd (Utilities) Equity, Since 31 Jan 22 \| 532155	3%	₹12 Cr	790,000 ↑ 100,000
Chemplast Sanmar Ltd (Basic Materials) Equity, Since 31 Dec 21 \| 543336	3%	₹12 Cr	178,018 ↑ 10,000

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 13.7% 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 (20 May 22)	₹72.27 ↑ 1.57 (2.22 %)
Net Assets (Cr)	₹1,829 on 30 Apr 22
Category	Equity - ELSS
AMC	Invesco Asset Management (India) Private Ltd
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	2.08
Sharpe Ratio	0.75
Information Ratio	-0.27
Alpha Ratio	-5.21
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Apr 17	₹10,000
30 Apr 18	₹12,040
30 Apr 19	₹12,132
30 Apr 20	₹10,996
30 Apr 21	₹16,235
30 Apr 22	₹18,447

Invesco India Tax Plan SIP 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

Duration	Returns
1 Month	-7.6%
3 Month	-9.9%
6 Month	-15.5%
1 Year	3.1%
3 Year	12.5%
5 Year	11.3%
10 Year
15 Year
Since launch	13.7%

Historical performance (Yearly) on absolute basis

Year	Returns
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

Name	Since	Tenure
Amit Nigam	3 Sep 20	1.66 Yr.
Dhimant Kothari	29 Mar 18	4.09 Yr.

Data below for Invesco India Tax Plan as on 30 Apr 22

Equity Sector Allocation

Sector	Value
Financial Services	30.05%
Consumer Cyclical	14.57%
Technology	13.67%
Industrials	11.29%
Basic Materials	6.68%
Energy	6.56%
Consumer Defensive	5.17%
Communication Services	4.47%
Health Care	4.02%
Utility	1.52%

Asset Allocation

Asset Class	Value
Cash	1.99%
Equity	98.01%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
ICICI Bank Ltd (Financial Services) Equity, Since 31 Dec 15 \| ICICIBANK	7%	₹133 Cr	1,790,424 ↓ -316,809
Infosys Ltd (Technology) Equity, Since 31 Dec 19 \| INFY	7%	₹128 Cr	815,817
Reliance Industries Ltd (Energy) Equity, Since 31 Mar 17 \| RELIANCE	7%	₹120 Cr	430,369
Housing Development Finance Corp Ltd (Financial Services) Equity, Since 30 Apr 22 \| HDFC	6%	₹110 Cr	494,045 ↑ 494,045
Kotak Mahindra Bank Ltd (Financial Services) Equity, Since 31 Jul 19 \| KOTAKBANK	5%	₹84 Cr	471,261
Axis Bank Ltd (Financial Services) Equity, Since 31 Dec 20 \| AXISBANK	4%	₹67 Cr	917,340 ↓ -253,328
Bharti Airtel Ltd (Communication Services) Equity, Since 30 Nov 21 \| BHARTIARTL	3%	₹56 Cr	758,989
Bajaj Finance Ltd (Financial Services) Equity, Since 31 Jul 21 \| BAJFINANCE	3%	₹52 Cr	78,137
KEI Industries Ltd (Industrials) Equity, Since 30 Apr 21 \| KEI	3%	₹50 Cr	412,280
Cholamandalam Investment and Finance Co Ltd (Financial Services) Equity, Since 31 Jul 21 \| CHOLAFIN	3%	₹49 Cr	662,654

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 15.7% since its launch. Ranked 8 in ELSS category. Return for 2021 was 32.1% , 2020 was 18.9% and 2019 was 2.5% .

Below is the key information for Principal Tax Savings Fund

Principal Tax Savings Fund Growth
Launch Date	31 Mar 96
NAV (20 May 22)	₹302.727 ↑ 7.10 (2.40 %)
Net Assets (Cr)	₹920 on 30 Apr 22
Category	Equity - ELSS
AMC	Principal Pnb Asset Mgmt. Co. Priv. Ltd.
Rating	☆☆☆☆
Risk	Moderately High
Expense Ratio	2.55
Sharpe Ratio	1.46
Information Ratio	-0.33
Alpha Ratio	1.92
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Apr 17	₹10,000
30 Apr 18	₹12,009
30 Apr 19	₹11,294
30 Apr 20	₹9,387
30 Apr 21	₹14,239
30 Apr 22	₹17,405

Principal Tax Savings Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹395,578.
Net Profit of ₹95,578 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 14 Jan 22

Duration	Returns
1 Month	-6.6%
3 Month	-6.6%
6 Month	-10.1%
1 Year	11.9%
3 Year	13.3%
5 Year	10.3%
10 Year
15 Year
Since launch	15.7%

Historical performance (Yearly) on absolute basis

Year	Returns
2021	32.1%
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%

Fund Manager information for Principal Tax Savings Fund

Name	Since	Tenure
Sudhir Kedia	29 Oct 19	2.51 Yr.
Rohit Seksaria	1 Jan 22	0.33 Yr.

Data below for Principal Tax Savings Fund as on 30 Apr 22

Equity Sector Allocation

Sector	Value
Financial Services	35.88%
Consumer Cyclical	16.01%
Technology	14.87%
Industrials	12.04%
Health Care	6.42%
Energy	3.88%
Consumer Defensive	3.31%
Basic Materials	2.78%
Communication Services	2.09%
Real Estate	0.83%

Asset Allocation

Asset Class	Value
Cash	1.87%
Equity	98.13%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 09 \| ICICIBANK	8%	₹76 Cr	1,044,215
Infosys Ltd (Technology) Equity, Since 31 Jan 09 \| INFY	7%	₹66 Cr	346,446 ↓ -20,000
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jul 09 \| HDFCBANK	5%	₹49 Cr	335,117
Polycab India Ltd (Industrials) Equity, Since 30 Nov 20 \| POLYCAB	4%	₹41 Cr	172,375
State Bank of India (Financial Services) Equity, Since 30 Apr 05 \| SBIN	4%	₹39 Cr	787,020 ↑ 77,425
Reliance Industries Ltd (Energy) Equity, Since 31 Dec 21 \| RELIANCE	4%	₹36 Cr	137,512
Axis Bank Ltd (Financial Services) Equity, Since 30 Sep 17 \| 532215	3%	₹31 Cr	410,005 ↑ 30,000
Tata Consultancy Services Ltd (Technology) Equity, Since 30 Apr 14 \| TCS	3%	₹31 Cr	83,073 ↓ -821
Ashok Leyland Ltd (Industrials) Equity, Since 31 Aug 20 \| 500477	3%	₹28 Cr	2,405,310 ↑ 90,000
Maruti Suzuki India Ltd (Consumer Cyclical) Equity, Since 31 Oct 19 \| MARUTI	3%	₹24 Cr	31,194

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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.