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

Updated on April 12, 2021 , 2516 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 ₹78.24
↑ 0.56
₹3993.52563.610.81731.2
Canara Robeco Equity Tax Saver Growth ₹92.42
↑ 0.83
₹1,7250.522.760.315.41627.4
Kotak Tax Saver Fund Growth ₹58.438
↑ 0.48
₹1,6793.925.762.212.614.714.9
HDFC Long Term Advantage Fund Growth ₹448.369
↑ 7.96
₹1,3402.528.167.19.714.211.5
Invesco India Tax Plan Growth ₹66.4
↑ 0.68
₹1,461021.255.610.514.119.2
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 13 Apr 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 18.5% 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 (13 Apr 21) ₹78.24 ↑ 0.56   (0.72 %)
Net Assets (Cr) ₹399 on 28 Feb 21
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.67
Sharpe Ratio 1
Information Ratio 0.05
Alpha Ratio 2.82
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹10,000
31 Mar 17₹12,211
31 Mar 18₹15,601
31 Mar 19₹14,341
31 Mar 20₹12,887
31 Mar 21₹22,489

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 ₹470,047.
Net Profit of ₹170,047
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 13 Apr 21

DurationReturns
1 Month -2.3%
3 Month 3.5%
6 Month 25%
1 Year 63.6%
3 Year 10.8%
5 Year 17%
10 Year
15 Year
Since launch 18.5%
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 191.72 Yr.

Data below for BOI AXA Tax Advantage Fund as on 28 Feb 21

Equity Sector Allocation
SectorValue
Financial Services29.87%
Basic Materials17.62%
Technology14.56%
Health Care10.22%
Consumer Cyclical9.97%
Industrials4.63%
Communication Services3.92%
Energy3.48%
Consumer Defensive2.11%
Utility0.72%
Asset Allocation
Asset ClassValue
Cash2.91%
Equity97.09%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
7%₹27 Cr173,358
↑ 4,949
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
5%₹19 Cr320,694
↑ 68,381
Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY
4%₹16 Cr129,655
↓ -3,093
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 30 Nov 18 | RELIANCE
3%₹14 Cr66,440
↓ -11,189
PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND
3%₹13 Cr58,142
↓ -6,500
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB
3%₹12 Cr35,659
↑ 1,040
Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Jan 18 | CHOLAFIN
3%₹12 Cr223,507
↑ 22,736
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 May 19 | HDFC
3%₹11 Cr42,848
↑ 5,037
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK
3%₹11 Cr59,554
↑ 2,085
Laurus Labs Ltd (Healthcare)
Equity, Since 30 Jun 20 | 540222
2%₹10 Cr278,350

2. Canara Robeco Equity Tax Saver

(ELSS Scheme) Seeking to provide long term capital appreciation by predominantly investing in equities and to facilitate the subscribers to seek tax benefits as provided under Section 80 C of the Income Tax Act, 1961. However, there can be no assurance that the investment objective of the scheme will be realized.

Canara Robeco Equity Tax Saver is a Equity - ELSS fund was launched on 2 Feb 09. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 20% since its launch.  Ranked 36 in ELSS category.  Return for 2020 was 27.4% , 2019 was 10.7% and 2018 was 2.7% .

Below is the key information for Canara Robeco Equity Tax Saver

Canara Robeco Equity Tax Saver
Growth
Launch Date 2 Feb 09
NAV (13 Apr 21) ₹92.42 ↑ 0.83   (0.91 %)
Net Assets (Cr) ₹1,725 on 28 Feb 21
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.32
Sharpe Ratio 0.99
Information Ratio 0.7
Alpha Ratio 3.71
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹10,000
31 Mar 17₹11,850
31 Mar 18₹13,400
31 Mar 19₹15,236
31 Mar 20₹12,618
31 Mar 21₹21,905

Canara Robeco Equity Tax Saver 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 Canara Robeco Equity Tax Saver

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Apr 21

DurationReturns
1 Month -4.3%
3 Month 0.5%
6 Month 22.7%
1 Year 60.3%
3 Year 15.4%
5 Year 16%
10 Year
15 Year
Since launch 20%
Historical performance (Yearly) on absolute basis
YearReturns
2020 27.4%
2019 10.7%
2018 2.7%
2017 32%
2016 0%
2015 0.6%
2014 45.2%
2013 5.3%
2012 30%
2011 -16.3%
Fund Manager information for Canara Robeco Equity Tax Saver
NameSinceTenure
Shridatta Bhandwaldar1 Oct 191.5 Yr.
Cheenu Gupta12 Mar 183.06 Yr.

Data below for Canara Robeco Equity Tax Saver as on 28 Feb 21

Equity Sector Allocation
SectorValue
Financial Services31.77%
Technology18.31%
Industrials12.9%
Consumer Cyclical12.12%
Basic Materials10.76%
Health Care4.18%
Consumer Defensive3.44%
Communication Services2.84%
Utility1.02%
Energy0.41%
Asset Allocation
Asset ClassValue
Cash2.24%
Equity97.76%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
8%₹163 Cr1,191,310
↑ 116,810
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
7%₹146 Cr2,506,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
6%₹115 Cr767,184
↑ 75,000
State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN
6%₹108 Cr2,975,000
Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Dec 20 | LT
5%₹96 Cr680,000
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
3%₹68 Cr132,450
↑ 7,500
Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 532215
3%₹65 Cr928,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS
3%₹61 Cr192,815
↑ 70,000
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
2%₹43 Cr119,000
↑ 13,500
Voltas Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Jul 20 | VOLTAS
2%₹42 Cr420,000

3. Kotak Tax Saver Fund

The investment objective of the scheme is to generate longterm capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail the income tax rebate, as permitted from time to time.

Kotak Tax Saver Fund is a Equity - ELSS fund was launched on 23 Nov 05. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 12.2% since its launch.  Ranked 19 in ELSS category.  Return for 2020 was 14.9% , 2019 was 12.7% and 2018 was -3.8% .

Below is the key information for Kotak Tax Saver Fund

Kotak Tax Saver Fund
Growth
Launch Date 23 Nov 05
NAV (13 Apr 21) ₹58.438 ↑ 0.48   (0.82 %)
Net Assets (Cr) ₹1,679 on 28 Feb 21
Category Equity - ELSS
AMC Kotak Mahindra Asset Management Co Ltd
Rating
Risk Moderately High
Expense Ratio 2.34
Sharpe Ratio 0.77
Information Ratio 0.32
Alpha Ratio -3.9
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹10,000
31 Mar 17₹12,978
31 Mar 18₹13,789
31 Mar 19₹15,193
31 Mar 20₹11,938
31 Mar 21₹20,457

Kotak Tax Saver 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 Kotak Tax Saver Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Apr 21

DurationReturns
1 Month -2.3%
3 Month 3.9%
6 Month 25.7%
1 Year 62.2%
3 Year 12.6%
5 Year 14.7%
10 Year
15 Year
Since launch 12.2%
Historical performance (Yearly) on absolute basis
YearReturns
2020 14.9%
2019 12.7%
2018 -3.8%
2017 33.8%
2016 7.5%
2015 1.5%
2014 56.6%
2013 -6.3%
2012 36.2%
2011 -26%
Fund Manager information for Kotak Tax Saver Fund
NameSinceTenure
Harsha Upadhyaya25 Aug 155.6 Yr.

Data below for Kotak Tax Saver Fund as on 28 Feb 21

Equity Sector Allocation
SectorValue
Financial Services24.97%
Basic Materials18.07%
Industrials17.52%
Technology11.81%
Consumer Cyclical7.89%
Health Care6.53%
Energy3.73%
Utility3.47%
Communication Services2.98%
Consumer Defensive1.59%
Asset Allocation
Asset ClassValue
Cash1.44%
Equity98.55%
Other0.01%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
8%₹140 Cr2,350,000
↑ 850,000
Infosys Ltd (Technology)
Equity, Since 31 Dec 05 | INFY
6%₹100 Cr800,000
↓ -25,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 18 | TCS
4%₹65 Cr225,000
↓ -46,027
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 30 Jun 06 | RELIANCE
4%₹63 Cr300,000
↓ -100,000
State Bank of India (Financial Services)
Equity, Since 28 Feb 21 | SBIN
4%₹60 Cr1,550,000
↑ 1,550,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
3%₹58 Cr380,000
SRF Ltd (Basic Materials)
Equity, Since 30 Apr 16 | SRF
3%₹54 Cr100,000
↓ -5,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Mar 13 | 532215
3%₹53 Cr725,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 28 Feb 21 | BHARTIARTL
3%₹50 Cr900,000
↑ 900,000
Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 28 Feb 14 | LT
3%₹47 Cr325,000
↑ 25,000

4. 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 20.6% 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 (13 Apr 21) ₹448.369 ↑ 7.96   (1.81 %)
Net Assets (Cr) ₹1,340 on 28 Feb 21
Category Equity - ELSS
AMC HDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.17
Sharpe Ratio 0.83
Information Ratio -0.7
Alpha Ratio 0.75
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹10,000
31 Mar 17₹13,009
31 Mar 18₹14,495
31 Mar 19₹16,072
31 Mar 20₹11,350
31 Mar 21₹20,188

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 ₹436,710.
Net Profit of ₹136,710
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 13 Apr 21

DurationReturns
1 Month -4.5%
3 Month 2.5%
6 Month 28.1%
1 Year 67.1%
3 Year 9.7%
5 Year 14.2%
10 Year
15 Year
Since launch 20.6%
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 0714.01 Yr.
Anand Laddha21 Oct 200.44 Yr.

Data below for HDFC Long Term Advantage Fund as on 28 Feb 21

Equity Sector Allocation
SectorValue
Financial Services36.16%
Industrials18.71%
Energy11.45%
Technology9.99%
Basic Materials5.72%
Consumer Defensive4.3%
Health Care3.19%
Utility2.4%
Communication Services2.13%
Consumer Cyclical1.96%
Asset Allocation
Asset ClassValue
Cash2.31%
Equity96%
Other1.69%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Jun 13 | HDFCBANK
10%₹130 Cr850,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
9%₹120 Cr2,000,000
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 Jul 05 | RELIANCE
8%₹108 Cr520,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFC
8%₹102 Cr400,000
State Bank of India (Financial Services)
Equity, Since 31 Jan 03 | SBIN
8%₹101 Cr2,600,000
Infosys Ltd (Technology)
Equity, Since 30 Nov 06 | INFY
7%₹94 Cr750,000
Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Oct 07 | LT
7%₹88 Cr607,500
Carborundum Universal Ltd (Industrials)
Equity, Since 30 Jun 03 | 513375
5%₹62 Cr1,229,000
ITC Ltd (Consumer Defensive)
Equity, Since 31 Oct 05 | ITC
4%₹58 Cr2,822,910
Bharat Petroleum Corp Ltd (Energy)
Equity, Since 30 Sep 12 | 500547
3%₹45 Cr1,000,000

5. 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 14.2% 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 (13 Apr 21) ₹66.4 ↑ 0.68   (1.03 %)
Net Assets (Cr) ₹1,461 on 28 Feb 21
Category Equity - ELSS
AMC Invesco Asset Management (India) Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.21
Sharpe Ratio 0.73
Information Ratio -0.15
Alpha Ratio -6.07
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹10,000
31 Mar 17₹12,091
31 Mar 18₹13,969
31 Mar 19₹15,241
31 Mar 20₹12,017
31 Mar 21₹19,947

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 ₹436,710.
Net Profit of ₹136,710
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 13 Apr 21

DurationReturns
1 Month -4.1%
3 Month 0%
6 Month 21.2%
1 Year 55.6%
3 Year 10.5%
5 Year 14.1%
10 Year
15 Year
Since launch 14.2%
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 200.57 Yr.
Dhimant Kothari29 Mar 183.01 Yr.

Data below for Invesco India Tax Plan as on 28 Feb 21

Equity Sector Allocation
SectorValue
Financial Services34.53%
Technology16.82%
Consumer Cyclical10.26%
Industrials9.02%
Basic Materials7.28%
Energy5.68%
Consumer Defensive4.97%
Health Care4.4%
Utility3.13%
Communication Services2.77%
Asset Allocation
Asset ClassValue
Cash1.14%
Equity98.86%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 28 Feb 09 | HDFCBANK
10%₹145 Cr948,078
Infosys Ltd (Technology)
Equity, Since 31 Dec 19 | INFY
9%₹135 Cr1,076,677
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
8%₹121 Cr2,031,464
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 Mar 17 | RELIANCE
6%₹83 Cr397,743
Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 532215
4%₹64 Cr883,988
↑ 192,701
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jul 19 | KOTAKBANK
4%₹56 Cr316,379
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 30 Jun 19 | 500696
4%₹54 Cr254,612
L&T Technology Services Ltd (Technology)
Equity, Since 31 Aug 20 | LTTS
3%₹43 Cr167,264
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 19 | BHARTIARTL
3%₹41 Cr728,066
SBI Cards and Payment Services Ltd Ordinary Shares (Financial Services)
Equity, Since 30 Apr 20 | 543066
3%₹37 Cr348,092

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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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