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

Updated on January 15, 2021 , 2139 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 ₹75.01
↓ -0.87
₹35121.841.632.97.716.831.2
Canara Robeco Equity Tax Saver Growth ₹90.59
↓ -1.32
₹1,33322.439.830.214.216.327.4
HDFC Long Term Advantage Fund Growth ₹435.994
↓ -3.23
₹1,23727.33814.56.715.111.5
Kotak Tax Saver Fund Growth ₹55.719
↓ -0.65
₹1,44521.733.415.68.614.714.9
Invesco India Tax Plan Growth ₹65.64
↓ -0.72
₹1,28021.934.220.49.114.719.2
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 15 Jan 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 (15 Jan 21) ₹75.01 ↓ -0.87   (-1.15 %)
Net Assets (Cr) ₹351 on 30 Nov 20
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.67
Sharpe Ratio 0.76
Information Ratio 0.04
Alpha Ratio 13.11
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 15₹10,000
31 Dec 16₹9,876
31 Dec 17₹15,571
31 Dec 18₹13,026
31 Dec 19₹14,929
31 Dec 20₹19,586

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 ₹458,689.
Net Profit of ₹158,689
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 15 Jan 21

DurationReturns
1 Month 6.6%
3 Month 21.8%
6 Month 41.6%
1 Year 32.9%
3 Year 7.7%
5 Year 16.8%
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 191.47 Yr.

Data below for BOI AXA Tax Advantage Fund as on 30 Nov 20

Equity Sector Allocation
SectorValue
Financial Services26.76%
Basic Materials17.76%
Technology14.68%
Health Care13.92%
Consumer Cyclical9.4%
Energy4.97%
Industrials4.29%
Consumer Defensive3.2%
Communication Services2.42%
Asset Allocation
Asset ClassValue
Cash2.07%
Equity97.93%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
7%₹25 Cr172,460
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
5%₹19 Cr93,975
↑ 879
Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY
4%₹16 Cr124,274
↑ 7,367
PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND
4%₹15 Cr66,804
↓ -1,518
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
4%₹14 Cr260,895
↓ -14,164
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB
4%₹13 Cr34,619
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK
3%₹12 Cr62,062
↓ -9,806
SRF Ltd (Basic Materials)
Equity, Since 30 Sep 19 | SRF
3%₹10 Cr18,641
↓ -333
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 May 19 | HDFC
3%₹10 Cr39,634
Navin Fluorine International Ltd (Basic Materials)
Equity, Since 31 Jul 19 | 532504
3%₹10 Cr37,433

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 20.3% 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 (15 Jan 21) ₹90.59 ↓ -1.32   (-1.44 %)
Net Assets (Cr) ₹1,333 on 30 Nov 20
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.32
Sharpe Ratio 0.6
Information Ratio 0.49
Alpha Ratio 9.5
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 15₹10,000
31 Dec 16₹9,996
31 Dec 17₹13,191
31 Dec 18₹13,544
31 Dec 19₹14,999
31 Dec 20₹19,102

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 15 Jan 21

DurationReturns
1 Month 8.2%
3 Month 22.4%
6 Month 39.8%
1 Year 30.2%
3 Year 14.2%
5 Year 16.3%
10 Year
15 Year
Since launch 20.3%
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 191.25 Yr.
Cheenu Gupta12 Mar 182.81 Yr.

Data below for Canara Robeco Equity Tax Saver as on 30 Nov 20

Equity Sector Allocation
SectorValue
Financial Services32.65%
Technology21.24%
Basic Materials10.6%
Consumer Cyclical10.18%
Industrials9.54%
Health Care5.24%
Energy2.95%
Communication Services2.79%
Consumer Defensive1.99%
Asset Allocation
Asset ClassValue
Cash2.82%
Equity97.18%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
9%₹135 Cr1,074,500
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
9%₹127 Cr2,381,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
7%₹99 Cr692,184
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
4%₹60 Cr112,450
↓ -6,700
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Dec 20 | LT
3%₹48 Cr375,000
↑ 375,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE
3%₹44 Cr219,500
↓ -25,000
State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN
3%₹43 Cr1,550,000
↑ 200,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Nov 20 | HDFC
3%₹42 Cr165,000
↑ 65,000
Asian Paints Ltd (Basic Materials)
Equity, Since 30 Sep 20 | 500820
3%₹37 Cr135,200
↓ -74,800
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS
3%₹37 Cr130,000
↓ -50,000

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 20.7% 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 (15 Jan 21) ₹435.994 ↓ -3.23   (-0.73 %)
Net Assets (Cr) ₹1,237 on 30 Nov 20
Category Equity - ELSS
AMC HDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.17
Sharpe Ratio 0.18
Information Ratio -1.44
Alpha Ratio -4.46
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 15₹10,000
31 Dec 16₹11,302
31 Dec 17₹15,393
31 Dec 18₹14,792
31 Dec 19₹16,287
31 Dec 20₹18,160

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 15 Jan 21

DurationReturns
1 Month 7.2%
3 Month 27.3%
6 Month 38%
1 Year 14.5%
3 Year 6.7%
5 Year 15.1%
10 Year
15 Year
Since launch 20.7%
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 0713.76 Yr.
Anand Laddha21 Oct 200.2 Yr.

Data below for HDFC Long Term Advantage Fund as on 30 Nov 20

Equity Sector Allocation
SectorValue
Financial Services35.64%
Industrials20.94%
Technology12.34%
Energy11.2%
Basic Materials5.8%
Consumer Defensive4.73%
Health Care3.6%
Utility2.24%
Communication Services2.07%
Consumer Cyclical1.36%
Asset Allocation
Asset ClassValue
Cash0.09%
Equity99.91%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
10%₹128 Cr2,400,000
↓ -73,000
Infosys Ltd (Technology)
Equity, Since 30 Nov 06 | INFY
10%₹126 Cr1,000,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Jun 13 | HDFCBANK
9%₹122 Cr850,000
↓ -50,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 05 | RELIANCE
8%₹103 Cr520,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFC
8%₹102 Cr400,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Oct 07 | LT
6%₹78 Cr607,500
State Bank of India (Financial Services)
Equity, Since 31 Jan 03 | SBIN
6%₹71 Cr2,600,000
ITC Ltd (Consumer Defensive)
Equity, Since 31 Oct 05 | ITC
5%₹59 Cr2,822,910
Carborundum Universal Ltd (Industrials)
Equity, Since 30 Jun 03 | 513375
4%₹50 Cr1,229,000
Aurobindo Pharma Ltd (Healthcare)
Equity, Since 31 Mar 18 | AUROPHARMA
4%₹46 Cr500,000

4. 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% 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 (15 Jan 21) ₹55.719 ↓ -0.65   (-1.16 %)
Net Assets (Cr) ₹1,445 on 30 Nov 20
Category Equity - ELSS
AMC Kotak Mahindra Asset Management Co Ltd
Rating
Risk Moderately High
Expense Ratio 2.34
Sharpe Ratio 0.31
Information Ratio -0.04
Alpha Ratio -0.36
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 15₹10,000
31 Dec 16₹10,746
31 Dec 17₹14,374
31 Dec 18₹13,827
31 Dec 19₹15,579
31 Dec 20₹17,907

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 15 Jan 21

DurationReturns
1 Month 6.2%
3 Month 21.7%
6 Month 33.4%
1 Year 15.6%
3 Year 8.6%
5 Year 14.7%
10 Year
15 Year
Since launch 12%
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 155.36 Yr.

Data below for Kotak Tax Saver Fund as on 30 Nov 20

Equity Sector Allocation
SectorValue
Financial Services18.87%
Basic Materials17.41%
Industrials14.24%
Technology14.18%
Consumer Defensive8.46%
Consumer Cyclical8%
Health Care7.91%
Energy5.85%
Utility3.04%
Asset Allocation
Asset ClassValue
Cash2.03%
Equity97.95%
Other0.02%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 31 Dec 05 | INFY
7%₹104 Cr825,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
6%₹91 Cr1,700,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Jun 06 | RELIANCE
6%₹89 Cr450,000
↓ -56,666
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 18 | TCS
5%₹78 Cr271,357
↓ -28,643
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 30 Apr 20 | 500696
4%₹65 Cr270,000
SRF Ltd (Basic Materials)
Equity, Since 30 Apr 16 | SRF
4%₹59 Cr105,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
4%₹55 Cr380,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Mar 13 | 532215
3%₹45 Cr725,000
↓ -25,000
Dr Reddy's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | 500124
3%₹42 Cr80,000
Cipla Ltd (Healthcare)
Equity, Since 30 Nov 20 | 500087
3%₹41 Cr500,000
↑ 300,000

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 14.3% 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 (15 Jan 21) ₹65.64 ↓ -0.72   (-1.08 %)
Net Assets (Cr) ₹1,280 on 30 Nov 20
Category Equity - ELSS
AMC Invesco Asset Management (India) Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.21
Sharpe Ratio 0.37
Information Ratio -0.15
Alpha Ratio 1.72
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 15₹10,000
31 Dec 16₹10,342
31 Dec 17₹14,039
31 Dec 18₹13,864
31 Dec 19₹15,171
31 Dec 20₹18,078

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 15 Jan 21

DurationReturns
1 Month 7.3%
3 Month 21.9%
6 Month 34.2%
1 Year 20.4%
3 Year 9.1%
5 Year 14.7%
10 Year
15 Year
Since launch 14.3%
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 200.33 Yr.
Dhimant Kothari29 Mar 182.76 Yr.

Data below for Invesco India Tax Plan as on 30 Nov 20

Equity Sector Allocation
SectorValue
Financial Services30.62%
Technology18.04%
Consumer Cyclical10.71%
Consumer Defensive7.62%
Industrials6.87%
Basic Materials6.57%
Energy5.7%
Health Care5.55%
Utility3.18%
Communication Services2.9%
Real Estate0.9%
Asset Allocation
Asset ClassValue
Cash1.35%
Equity98.65%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 28 Feb 09 | HDFCBANK
10%₹136 Cr948,078
Infosys Ltd (Technology)
Equity, Since 31 Dec 19 | INFY
10%₹135 Cr1,076,677
↑ 105,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
8%₹109 Cr2,031,464
↑ 66,661
Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 17 | RELIANCE
6%₹79 Cr397,743
↓ -21,877
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jul 19 | KOTAKBANK
5%₹63 Cr316,379
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 30 Jun 19 | 500696
4%₹61 Cr254,612
L&T Technology Services Ltd (Technology)
Equity, Since 31 Aug 20 | LTTS
3%₹42 Cr179,214
↑ 32,921
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 19 | BHARTIARTL
3%₹40 Cr787,339
↓ -274,498
Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 532215
3%₹40 Cr638,509
↑ 638,509
Bajaj Auto Ltd (Consumer Cyclical)
Equity, Since 31 Mar 20 | 532977
3%₹38 Cr111,023
↑ 29,347

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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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