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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.

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 ₹88.42
↑ 1.66
₹596-7.3-14.2720.514.841.5
PGIM India Tax Savings Fund Growth ₹22.2
↑ 0.49
₹388-5.4-6.112.115.411.837.5
Invesco India Tax Plan Growth ₹72.27
↑ 1.57
₹1,829-9.9-15.53.112.511.332.6
Principal Tax Savings Fund Growth ₹302.727
↑ 7.10
₹920-6.6-10.111.913.310.332.1
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.

DateValue
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

   
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 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.

DateValue
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

   
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 -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
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
Aakash Manghani15 Jul 192.8 Yr.
Alok Singh27 Apr 220.01 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services31.31%
Technology13.96%
Consumer Cyclical13.9%
Basic Materials12.71%
Health Care7.42%
Industrials6.93%
Consumer Defensive3.58%
Energy3.31%
Communication Services2.66%
Real Estate1.01%
Asset Allocation
Asset ClassValue
Cash3.12%
Equity96.79%
Debt0.09%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
6%₹39 Cr519,840
↑ 46,659
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
5%₹28 Cr202,169
↓ -8,457
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
4%₹25 Cr87,880
↑ 13,500
Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY
4%₹24 Cr155,489
↓ -4,381
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 18 | BAJFINANCE
3%₹19 Cr28,188
↓ -4,398
State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN
3%₹16 Cr330,426
↑ 56,427
Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Jan 18 | CHOLAFIN
3%₹16 Cr212,404
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK
2%₹13 Cr75,364
↓ -4,000
Varun Beverages Ltd (Consumer Defensive)
Equity, Since 28 Feb 22 | VBL
2%₹11 Cr104,928
↑ 26,533
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | AXISBANK
2%₹11 Cr154,028
↑ 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.

DateValue
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

   
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 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 -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
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 192.63 Yr.
Puneet Pal1 Dec 210.41 Yr.
Utkarsh Katkoria1 Jun 210.91 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services25.44%
Technology13.48%
Industrials11.26%
Health Care9.24%
Consumer Cyclical7.55%
Utility6.82%
Basic Materials6.35%
Energy5.99%
Communication Services5.96%
Consumer Defensive2.94%
Asset Allocation
Asset ClassValue
Cash4.98%
Equity95.02%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY
7%₹28 Cr147,129
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Jan 16 | ICICIBANK
7%₹27 Cr370,500
Bharti Airtel Ltd (Communication Services)
Equity, Since 28 Feb 19 | BHARTIARTL
5%₹18 Cr240,805
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Sep 17 | LT
4%₹17 Cr95,664
Reliance Industries Ltd (Energy)
Equity, Since 31 Aug 17 | RELIANCE
4%₹15 Cr58,250
Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 21 | 532215
4%₹15 Cr195,000
↑ 25,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
4%₹15 Cr100,200
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
4%₹15 Cr294,174
GAIL (India) Ltd (Utilities)
Equity, Since 31 Jan 22 | 532155
3%₹12 Cr790,000
↑ 100,000
Chemplast Sanmar Ltd (Basic Materials)
Equity, Since 31 Dec 21 | 543336
3%₹12 Cr178,018
↑ 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.

DateValue
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

   
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 -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
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 201.66 Yr.
Dhimant Kothari29 Mar 184.09 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services30.05%
Consumer Cyclical14.57%
Technology13.67%
Industrials11.29%
Basic Materials6.68%
Energy6.56%
Consumer Defensive5.17%
Communication Services4.47%
Health Care4.02%
Utility1.52%
Asset Allocation
Asset ClassValue
Cash1.99%
Equity98.01%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
7%₹133 Cr1,790,424
↓ -316,809
Infosys Ltd (Technology)
Equity, Since 31 Dec 19 | INFY
7%₹128 Cr815,817
Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 17 | RELIANCE
7%₹120 Cr430,369
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Apr 22 | HDFC
6%₹110 Cr494,045
↑ 494,045
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jul 19 | KOTAKBANK
5%₹84 Cr471,261
Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | AXISBANK
4%₹67 Cr917,340
↓ -253,328
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 21 | BHARTIARTL
3%₹56 Cr758,989
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 Jul 21 | BAJFINANCE
3%₹52 Cr78,137
KEI Industries Ltd (Industrials)
Equity, Since 30 Apr 21 | KEI
3%₹50 Cr412,280
Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Jul 21 | CHOLAFIN
3%₹49 Cr662,654

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.

DateValue
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

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual 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

DurationReturns
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
YearReturns
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
NameSinceTenure
Sudhir Kedia29 Oct 192.51 Yr.
Rohit Seksaria1 Jan 220.33 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services35.88%
Consumer Cyclical16.01%
Technology14.87%
Industrials12.04%
Health Care6.42%
Energy3.88%
Consumer Defensive3.31%
Basic Materials2.78%
Communication Services2.09%
Real Estate0.83%
Asset Allocation
Asset ClassValue
Cash1.87%
Equity98.13%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
8%₹76 Cr1,044,215
Infosys Ltd (Technology)
Equity, Since 31 Jan 09 | INFY
7%₹66 Cr346,446
↓ -20,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 09 | HDFCBANK
5%₹49 Cr335,117
Polycab India Ltd (Industrials)
Equity, Since 30 Nov 20 | POLYCAB
4%₹41 Cr172,375
State Bank of India (Financial Services)
Equity, Since 30 Apr 05 | SBIN
4%₹39 Cr787,020
↑ 77,425
Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 21 | RELIANCE
4%₹36 Cr137,512
Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 17 | 532215
3%₹31 Cr410,005
↑ 30,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 14 | TCS
3%₹31 Cr83,073
↓ -821
Ashok Leyland Ltd (Industrials)
Equity, Since 31 Aug 20 | 500477
3%₹28 Cr2,405,310
↑ 90,000
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 31 Oct 19 | MARUTI
3%₹24 Cr31,194

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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.
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