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5 Best Performing ELSS Mutual Funds 2023 | Fincash.com

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5 Best ELSS Mutual Funds Investments in India for 2023

Updated on January 25, 2023 , 45463 views

Best elss Funds or Equity Linked Savings Schemes 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 & have lock-in of 3 Years on investments.

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Top 5 Best Performing ELSS Mutual Funds 2023 - 2024

*List for Funds based on Assets >= 100 Crore & Sorted on 3 Year CAGR Return.

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
31 Dec 17₹10,000
31 Dec 18₹9,610
31 Dec 19₹10,581
31 Dec 20₹11,798
31 Dec 21₹15,911

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
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
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. IDFC Tax Advantage (ELSS) Fund

The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realised.

IDFC Tax Advantage (ELSS) Fund is a Equity - ELSS fund was launched on 26 Dec 08. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 17.6% since its launch.  Ranked 3 in ELSS category.  Return for 2022 was 4.2% , 2021 was 49.2% and 2020 was 18.7% .

Below is the key information for IDFC Tax Advantage (ELSS) Fund

IDFC Tax Advantage (ELSS) Fund
Growth
Launch Date 26 Dec 08
NAV (27 Jan 23) ₹98.588 ↓ -1.52   (-1.51 %)
Net Assets (Cr) ₹4,026 on 31 Dec 22
Category Equity - ELSS
AMC IDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 1.95
Sharpe Ratio 0.03
Information Ratio 0.72
Alpha Ratio -0.51
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 17₹10,000
31 Dec 18₹9,060
31 Dec 19₹9,236
31 Dec 20₹10,963
31 Dec 21₹16,357
31 Dec 22₹17,044

IDFC Tax Advantage (ELSS) 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 IDFC Tax Advantage (ELSS) 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 -2.4%
3 Month -2.3%
6 Month 5.3%
1 Year 2.6%
3 Year 20.1%
5 Year 10%
10 Year
15 Year
Since launch 17.6%
Historical performance (Yearly) on absolute basis
YearReturns
2022 4.2%
2021 49.2%
2020 18.7%
2019 1.9%
2018 -9.4%
2017 53.4%
2016 0.4%
2015 6.9%
2014 42.2%
2013 15%
Fund Manager information for IDFC Tax Advantage (ELSS) Fund
NameSinceTenure
Daylynn Pinto20 Oct 166.2 Yr.

Data below for IDFC Tax Advantage (ELSS) Fund as on 31 Dec 22

Equity Sector Allocation
SectorValue
Financial Services27.43%
Consumer Cyclical15.81%
Industrials11.96%
Basic Materials10.03%
Technology9.87%
Health Care6.4%
Energy3.67%
Consumer Defensive3.24%
Communication Services2.9%
Utility1.26%
Asset Allocation
Asset ClassValue
Cash7.42%
Equity92.58%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK
9%₹362 Cr3,800,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY
5%₹221 Cr1,350,000
↓ -50,000
State Bank of India (Financial Services)
Equity, Since 30 Jun 20 | SBIN
5%₹211 Cr3,500,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK
4%₹169 Cr1,050,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE
4%₹150 Cr550,000
Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 21 | 532215
3%₹126 Cr1,400,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL
3%₹119 Cr1,400,000
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 20 | TATAMOTORS
3%₹114 Cr2,600,000
Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Jul 20 | M&M
3%₹104 Cr800,000
Jindal Steel & Power Ltd (Basic Materials)
Equity, Since 31 Mar 18 | 532286
2%₹94 Cr1,750,000
↓ -50,000

3. 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 17.7% since its launch.  Ranked 13 in ELSS category.  Return for 2022 was -1.3% , 2021 was 41.5% and 2020 was 31.2% .

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund
Growth
Launch Date 25 Feb 09
NAV (27 Jan 23) ₹97.13 ↓ -1.68   (-1.70 %)
Net Assets (Cr) ₹693 on 31 Dec 22
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.54
Sharpe Ratio -0.3
Information Ratio 0.6
Alpha Ratio -5.83
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 17₹10,000
31 Dec 18₹8,366
31 Dec 19₹9,588
31 Dec 20₹12,579
31 Dec 21₹17,793
31 Dec 22₹17,570

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 ₹395,578.
Net Profit of ₹95,578
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 -4%
3 Month -3.8%
6 Month 5.7%
1 Year 0.7%
3 Year 19.3%
5 Year 10.6%
10 Year
15 Year
Since launch 17.7%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2013 9.1%
Fund Manager information for BOI AXA Tax Advantage Fund
NameSinceTenure
Alok Singh27 Apr 220.68 Yr.

Data below for BOI AXA Tax Advantage Fund as on 31 Dec 22

Equity Sector Allocation
SectorValue
Financial Services37.06%
Consumer Cyclical14.92%
Basic Materials9.62%
Consumer Defensive8.46%
Industrials7.68%
Health Care6.4%
Energy4.45%
Technology3.67%
Utility3.12%
Real Estate1.7%
Communication Services0.78%
Asset Allocation
Asset ClassValue
Cash2.07%
Equity97.86%
Debt0.08%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
7%₹50 Cr529,340
State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN
7%₹46 Cr770,000
↓ -20,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
6%₹39 Cr244,000
↑ 19,000
Canara Bank (Financial Services)
Equity, Since 31 Aug 22 | 532483
4%₹28 Cr895,000
↑ 25,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
4%₹25 Cr91,009
NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | 532555
3%₹22 Cr1,260,000
Varun Beverages Ltd (Consumer Defensive)
Equity, Since 28 Feb 22 | VBL
3%₹19 Cr154,000
↓ -14,692
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | 532215
3%₹18 Cr204,000
ITC Ltd (Consumer Defensive)
Equity, Since 31 May 22 | ITC
2%₹16 Cr473,223
Balrampur Chini Mills Ltd (Consumer Defensive)
Equity, Since 30 Apr 22 | 500038
2%₹15 Cr396,000
↑ 91,000

4. 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 18.9% since its launch.  Ranked 36 in ELSS category.  Return for 2022 was -0.2% , 2021 was 35.1% and 2020 was 27.4% .

Below is the key information for Canara Robeco Equity Tax Saver

Canara Robeco Equity Tax Saver
Growth
Launch Date 2 Feb 09
NAV (27 Jan 23) ₹112.93 ↓ -1.54   (-1.35 %)
Net Assets (Cr) ₹4,559 on 31 Dec 22
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.11
Sharpe Ratio -0.26
Information Ratio 0.31
Alpha Ratio -4.89
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 17₹10,000
31 Dec 18₹10,268
31 Dec 19₹11,371
31 Dec 20₹14,482
31 Dec 21₹19,569
31 Dec 22₹19,536

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 ₹426,080.
Net Profit of ₹126,080
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 14 Jan 22

DurationReturns
1 Month -3.9%
3 Month -3.8%
6 Month 2.5%
1 Year -1.3%
3 Year 17.7%
5 Year 13.1%
10 Year
15 Year
Since launch 18.9%
Historical performance (Yearly) on absolute basis
YearReturns
2022 -0.2%
2021 35.1%
2020 27.4%
2019 10.7%
2018 2.7%
2017 32%
2016 0%
2015 0.6%
2014 45.2%
2013 5.3%
Fund Manager information for Canara Robeco Equity Tax Saver
NameSinceTenure
Vishal Mishra26 Jun 211.52 Yr.
Shridatta Bhandwaldar1 Oct 193.25 Yr.

Data below for Canara Robeco Equity Tax Saver as on 31 Dec 22

Equity Sector Allocation
SectorValue
Financial Services33.49%
Consumer Cyclical14.28%
Technology10.07%
Basic Materials9.64%
Industrials8.13%
Health Care6.15%
Consumer Defensive5.39%
Energy4.43%
Communication Services2.25%
Real Estate1.59%
Utility1.54%
Asset Allocation
Asset ClassValue
Cash3.03%
Equity96.97%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
8%₹380 Cr3,991,000
↑ 50,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
7%₹328 Cr2,037,184
↑ 145,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
7%₹320 Cr1,956,310
↑ 45,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE
4%₹203 Cr743,500
↑ 25,000
State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN
4%₹201 Cr3,330,000
↑ 550,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 532215
4%₹185 Cr2,053,000
↑ 100,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS
2%₹110 Cr323,712
UltraTech Cement Ltd (Basic Materials)
Equity, Since 30 Apr 21 | ULTRACEMCO
2%₹105 Cr149,000
↑ 17,000
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 Oct 16 | HINDUNILVR
2%₹104 Cr386,690
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 21 | BHARTIARTL
2%₹103 Cr1,215,000
↓ -50,000

5. 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 13.3% since its launch.  Return for 2022 was 4.7% , 2021 was 37.5% and 2020 was 17.9% .

Below is the key information for PGIM India Tax Savings Fund

PGIM India Tax Savings Fund
Growth
Launch Date 11 Dec 15
NAV (27 Jan 23) ₹24.29 ↓ -0.28   (-1.14 %)
Net Assets (Cr) ₹448 on 31 Dec 22
Category Equity - ELSS
AMC Pramerica Asset Managers Private Limited
Rating Not Rated
Risk Moderately High
Expense Ratio 0
Sharpe Ratio 0.05
Information Ratio 0.45
Alpha Ratio 0.31
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 17₹10,000
31 Dec 18₹9,364
31 Dec 19₹10,131
31 Dec 20₹11,943
31 Dec 21₹16,418
31 Dec 22₹17,185

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 ₹395,578.
Net Profit of ₹95,578
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 -2.3%
3 Month -0.9%
6 Month 6%
1 Year 2.2%
3 Year 17.6%
5 Year 10.7%
10 Year
15 Year
Since launch 13.3%
Historical performance (Yearly) on absolute basis
YearReturns
2022 4.7%
2021 37.5%
2020 17.9%
2019 8.2%
2018 -6.4%
2017 39.3%
2016 1.7%
2015
2014
2013
Fund Manager information for PGIM India Tax Savings Fund
NameSinceTenure
Srinivas Ravuri14 Sep 193.3 Yr.
Puneet Pal1 Dec 211.08 Yr.
Utkarsh Katkoria1 Jun 211.58 Yr.

Data below for PGIM India Tax Savings Fund as on 31 Dec 22

Equity Sector Allocation
SectorValue
Financial Services34.86%
Technology9.71%
Health Care9.04%
Industrials8.14%
Energy6.98%
Consumer Cyclical6.71%
Basic Materials6.29%
Utility4.95%
Communication Services4.51%
Consumer Defensive4.18%
Asset Allocation
Asset ClassValue
Cash4.41%
Equity95.37%
Debt0.22%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Jan 16 | ICICIBANK
8%₹35 Cr370,500
Reliance Industries Ltd (Energy)
Equity, Since 31 Aug 17 | RELIANCE
6%₹27 Cr99,750
Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY
6%₹26 Cr161,129
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
5%₹25 Cr154,200
HDFC Life Insurance Company Limited (Financial Services)
Equity, Since 31 Mar 22 | HDFCLIFE
5%₹22 Cr377,700
Bharti Airtel Ltd (Communication Services)
Equity, Since 28 Feb 19 | BHARTIARTL
5%₹20 Cr240,805
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Sep 17 | LT
4%₹20 Cr95,664
Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 21 | 532215
4%₹20 Cr218,000
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
4%₹18 Cr294,174
GAIL (India) Ltd (Utilities)
Equity, Since 31 Jan 22 | 532155
3%₹15 Cr1,546,558

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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Tulasi, posted on 4 Sep 21 7:02 AM

Nice article

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