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5 Best Performing ELSS Mutual Funds 2024 | Fincash.com

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5 Best ELSS Mutual Funds Investments in India for 2024

Updated on March 14, 2024 , 59993 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 2024 - 2025

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

1. SBI Magnum Tax Gain Fund

To deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investment made in the scheme under section 80C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to avail Section 80C benefits.

SBI Magnum Tax Gain Fund is a Equity - ELSS fund was launched on 7 May 07. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 13.1% since its launch.  Ranked 31 in ELSS category.  Return for 2023 was 40% , 2022 was 6.9% and 2021 was 31% .

Below is the key information for SBI Magnum Tax Gain Fund

SBI Magnum Tax Gain Fund
Growth
Launch Date 7 May 07
NAV (15 Mar 24) ₹361.809 ↓ -2.51   (-0.69 %)
Net Assets (Cr) ₹20,085 on 31 Jan 24
Category Equity - ELSS
AMC SBI Funds Management Private Limited
Rating
Risk Moderately High
Expense Ratio 1.79
Sharpe Ratio 2.75
Information Ratio 1.16
Alpha Ratio 12.31
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
28 Feb 19₹10,000
29 Feb 20₹10,138
28 Feb 21₹13,429
28 Feb 22₹15,572
28 Feb 23₹17,245
29 Feb 24₹27,256

SBI Magnum Tax Gain Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹505,644.
Net Profit of ₹205,644
Invest Now

Returns for SBI Magnum Tax Gain 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 Mar 24

DurationReturns
1 Month -0.7%
3 Month 11%
6 Month 21.5%
1 Year 56.9%
3 Year 25.1%
5 Year 20.5%
10 Year
15 Year
Since launch 13.1%
Historical performance (Yearly) on absolute basis
YearReturns
2023 40%
2022 6.9%
2021 31%
2020 18.9%
2019 4%
2018 -8.3%
2017 33%
2016 2.1%
2015 3.2%
2014 49.1%
Fund Manager information for SBI Magnum Tax Gain Fund
NameSinceTenure
Dinesh Balachandran10 Sep 167.48 Yr.

Data below for SBI Magnum Tax Gain Fund as on 31 Jan 24

Equity Sector Allocation
SectorValue
Financial Services22.62%
Industrials15.34%
Consumer Cyclical9.81%
Health Care8.58%
Energy8.36%
Basic Materials7.81%
Technology7.67%
Utility6%
Communication Services3.24%
Consumer Defensive3.1%
Real Estate0.83%
Asset Allocation
Asset ClassValue
Cash6.63%
Equity93.37%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
GE T&D India Ltd (Industrials)
Equity, Since 30 Sep 16 | 522275
4%₹906 Cr9,944,328
↓ -1,250,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Jan 17 | ICICIBANK
4%₹780 Cr7,416,237
Cummins India Ltd (Industrials)
Equity, Since 28 Feb 19 | 500480
4%₹757 Cr2,763,190
Torrent Power Ltd (Utilities)
Equity, Since 31 Jul 19 | 532779
3%₹674 Cr6,252,617
Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Dec 16 | M&M
3%₹660 Cr3,415,083
State Bank of India (Financial Services)
Equity, Since 31 May 06 | SBIN
3%₹654 Cr8,735,639
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Mar 17 | BHARTIARTL
3%₹625 Cr5,563,576
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Jun 07 | HDFCBANK
3%₹595 Cr4,243,253
GAIL (India) Ltd (Utilities)
Equity, Since 30 Nov 21 | 532155
3%₹587 Cr32,193,555
Reliance Industries Ltd (Energy)
Equity, Since 30 Apr 06 | RELIANCE
3%₹566 Cr1,937,574

2. HDFC Tax Saver Fund

The fund plans to provide long term growth of capital.

HDFC Tax Saver 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 since its launch.  Ranked 27 in ELSS category.  Return for 2023 was 33.2% , 2022 was 10.5% and 2021 was 35.3% .

Below is the key information for HDFC Tax Saver Fund

HDFC Tax Saver Fund
Growth
Launch Date 31 Mar 96
NAV (15 Mar 24) ₹1,144.85 ↓ -7.59   (-0.66 %)
Net Assets (Cr) ₹13,441 on 31 Jan 24
Category Equity - ELSS
AMC HDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 1.84
Sharpe Ratio 2.41
Information Ratio 1.5
Alpha Ratio 5.75
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
28 Feb 19₹10,000
29 Feb 20₹9,639
28 Feb 21₹12,010
28 Feb 22₹14,463
28 Feb 23₹16,349
29 Feb 24₹23,706

HDFC 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 ₹470,047.
Net Profit of ₹170,047
Invest Now

Returns for HDFC 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 Mar 24

DurationReturns
1 Month 0.1%
3 Month 5.9%
6 Month 17.2%
1 Year 45.8%
3 Year 24.4%
5 Year 17.2%
10 Year
15 Year
Since launch
Historical performance (Yearly) on absolute basis
YearReturns
2023 33.2%
2022 10.5%
2021 35.3%
2020 5.8%
2019 3.7%
2018 -10.9%
2017 38.7%
2016 7.6%
2015 -6.2%
2014 56.4%
Fund Manager information for HDFC Tax Saver Fund
NameSinceTenure
Roshi Jain13 Jan 222.13 Yr.
Dhruv Muchhal22 Jun 230.69 Yr.

Data below for HDFC Tax Saver Fund as on 31 Jan 24

Equity Sector Allocation
SectorValue
Financial Services36.53%
Health Care12.53%
Technology10.28%
Industrials9.39%
Consumer Cyclical6.94%
Utility5.62%
Communication Services5.35%
Real Estate2.54%
Energy1.71%
Basic Materials0.71%
Asset Allocation
Asset ClassValue
Cash8.39%
Equity91.61%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
10%₹1,285 Cr12,500,000
↑ 500,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 15 | HDFCBANK
9%₹1,250 Cr8,550,000
↑ 1,250,000
HCL Technologies Ltd (Technology)
Equity, Since 30 Sep 20 | HCLTECH
5%₹725 Cr4,600,000
Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 31 Jan 22 | HAL
5%₹720 Cr2,400,000
↓ -300,000
Cipla Ltd (Healthcare)
Equity, Since 31 Oct 09 | 500087
5%₹703 Cr5,200,000
State Bank of India (Financial Services)
Equity, Since 31 Dec 06 | SBIN
5%₹641 Cr10,000,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 19 | BHARTIARTL
5%₹620 Cr5,300,000
↓ -1,200,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | 532215
5%₹609 Cr5,700,000
↑ 1,200,000
SBI Life Insurance Company Limited (Financial Services)
Equity, Since 31 Jan 22 | SBILIFE
4%₹602 Cr4,300,000
↑ 92,237
Apollo Hospitals Enterprise Ltd (Healthcare)
Equity, Since 30 Sep 22 | APOLLOHOSP
4%₹476 Cr750,000

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 19.4% since its launch.  Ranked 13 in ELSS category.  Return for 2023 was 34.8% , 2022 was -1.3% and 2021 was 41.5% .

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund
Growth
Launch Date 25 Feb 09
NAV (15 Mar 24) ₹144.89 ↓ -0.34   (-0.23 %)
Net Assets (Cr) ₹1,090 on 31 Jan 24
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.49
Sharpe Ratio 2.25
Information Ratio 0.67
Alpha Ratio 6.21
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
28 Feb 19₹10,000
29 Feb 20₹12,243
28 Feb 21₹16,531
28 Feb 22₹20,178
28 Feb 23₹20,760
29 Feb 24₹31,625

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 ₹556,833.
Net Profit of ₹256,833
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 Mar 24

DurationReturns
1 Month -1.6%
3 Month 6.3%
6 Month 19.6%
1 Year 51.7%
3 Year 22.2%
5 Year 24.1%
10 Year
15 Year
Since launch 19.4%
Historical performance (Yearly) on absolute basis
YearReturns
2023 34.8%
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%
Fund Manager information for BOI AXA Tax Advantage Fund
NameSinceTenure
Alok Singh27 Apr 221.85 Yr.

Data below for BOI AXA Tax Advantage Fund as on 31 Jan 24

Equity Sector Allocation
SectorValue
Financial Services30.56%
Consumer Cyclical9.5%
Industrials9.36%
Basic Materials8.78%
Health Care7.64%
Energy7.21%
Technology5.24%
Utility4.87%
Consumer Defensive2.59%
Real Estate1.43%
Asset Allocation
Asset ClassValue
Cash10.21%
Equity87.18%
Debt2.61%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN
4%₹46 Cr620,000
↓ -160,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
3%₹39 Cr280,000
Canara Bank (Financial Services)
Equity, Since 31 Aug 22 | 532483
3%₹39 Cr695,000
↓ -200,000
Oil India Ltd (Energy)
Equity, Since 31 Mar 23 | OIL
3%₹38 Cr702,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
3%₹38 Cr130,000
Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 30 Jun 22 | SUNPHARMA
3%₹34 Cr217,000
Bank of Baroda (Financial Services)
Equity, Since 31 Oct 22 | 532134
3%₹33 Cr1,236,338
↓ -413,662
NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | 532555
3%₹31 Cr920,000
↓ -118,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Dec 22 | LT
3%₹29 Cr82,800
Kotak Mahindra Bank Ltd.
Debentures | -
2%₹28 Cr3,000,000

4. 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 18.6% since its launch.  Ranked 3 in ELSS category.  Return for 2023 was 28.3% , 2022 was 4.2% and 2021 was 49.2% .

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

IDFC Tax Advantage (ELSS) Fund
Growth
Launch Date 26 Dec 08
NAV (15 Mar 24) ₹134.825 ↓ -0.88   (-0.65 %)
Net Assets (Cr) ₹5,976 on 31 Jan 24
Category Equity - ELSS
AMC IDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 1.95
Sharpe Ratio 2.23
Information Ratio 0.82
Alpha Ratio 4.52
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
28 Feb 19₹10,000
29 Feb 20₹10,153
28 Feb 21₹14,343
28 Feb 22₹17,974
28 Feb 23₹18,911
29 Feb 24₹26,388

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 ₹493,520.
Net Profit of ₹193,520
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 15 Mar 24

DurationReturns
1 Month -0.5%
3 Month 4.6%
6 Month 10.7%
1 Year 39%
3 Year 20.9%
5 Year 19.3%
10 Year
15 Year
Since launch 18.6%
Historical performance (Yearly) on absolute basis
YearReturns
2023 28.3%
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%
Fund Manager information for IDFC Tax Advantage (ELSS) Fund
NameSinceTenure
Daylynn Pinto20 Oct 167.37 Yr.
Ritika Behera7 Oct 230.4 Yr.

Data below for IDFC Tax Advantage (ELSS) Fund as on 31 Jan 24

Equity Sector Allocation
SectorValue
Financial Services26.81%
Consumer Cyclical13.01%
Industrials11.04%
Technology9.13%
Basic Materials8.29%
Consumer Defensive7.89%
Health Care6.89%
Energy5.25%
Communication Services3.09%
Utility2.65%
Real Estate0.67%
Asset Allocation
Asset ClassValue
Cash5.28%
Equity94.72%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK
6%₹358 Cr3,400,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK
5%₹330 Cr2,350,000
↑ 150,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE
5%₹321 Cr1,100,000
Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 21 | 532215
4%₹237 Cr2,200,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY
4%₹234 Cr1,400,000
State Bank of India (Financial Services)
Equity, Since 30 Jun 20 | SBIN
3%₹180 Cr2,400,000
↑ 100,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL
2%₹143 Cr1,275,000
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 20 | TATAMOTORS
2%₹143 Cr1,500,000
↓ -300,000
NTPC Ltd (Utilities)
Equity, Since 30 Sep 22 | 532555
2%₹134 Cr4,000,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Oct 21 | TCS
2%₹132 Cr321,877

5. IDBI Equity Advantage Fund

The Scheme will seek to invest predominantly in a diversified portfolio of equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction(under section 80C of the Income-tax Act, 1961) on their investments. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to be eligible for income-tax benefits under Section 80C. There can be no assurance that the investment objective under the scheme will be realized.

IDBI Equity Advantage Fund is a Equity - ELSS fund was launched on 10 Sep 13. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 16% since its launch.  Ranked 21 in ELSS category. .

Below is the key information for IDBI Equity Advantage Fund

IDBI Equity Advantage Fund
Growth
Launch Date 10 Sep 13
NAV (28 Jul 23) ₹43.39 ↑ 0.04   (0.09 %)
Net Assets (Cr) ₹485 on 30 Jun 23
Category Equity - ELSS
AMC IDBI Asset Management Limited
Rating
Risk Moderately High
Expense Ratio 2.39
Sharpe Ratio 1.21
Information Ratio -1.13
Alpha Ratio 1.78
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
28 Feb 19₹10,000
29 Feb 20₹10,921
28 Feb 21₹12,738
28 Feb 22₹14,849
28 Feb 23₹15,267

IDBI Equity 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 ₹385,859.
Net Profit of ₹85,859
Invest Now

Returns for IDBI Equity 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 Mar 24

DurationReturns
1 Month 3.1%
3 Month 9.7%
6 Month 15.1%
1 Year 16.9%
3 Year 20.8%
5 Year 10%
10 Year
15 Year
Since launch 16%
Historical performance (Yearly) on absolute basis
YearReturns
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund Manager information for IDBI Equity Advantage Fund
NameSinceTenure

Data below for IDBI Equity Advantage Fund as on 30 Jun 23

Equity Sector Allocation
SectorValue
Asset Allocation
Asset ClassValue
Top Securities Holdings / Portfolio
NameHoldingValueQuantity

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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