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5 Best ELSS Mutual Funds Investments in India for 2024
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
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 Below is the key information for SBI Magnum Tax Gain Fund Returns up to 1 year are on 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 Below is the key information for HDFC Tax Saver Fund Returns up to 1 year are on (Erstwhile Motilal Oswal MOSt Focused Long Term Fund) The investment objective of the Scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. Motilal Oswal Long Term Equity Fund is a Equity - ELSS fund was launched on 21 Jan 15. It is a fund with Moderately High risk and has given a Below is the key information for Motilal Oswal Long Term Equity Fund Returns up to 1 year are on The investment objective is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities and to enable investors a deduction from total income, as permitted under the Income Tax Act, 1961 from time to time. However, there can be no assurance that the investment objectives of the Scheme will be realized. The Scheme does not guarantee/indicate any returns. JM Tax Gain Fund is a Equity - ELSS fund was launched on 31 Mar 08. It is a fund with Moderately High risk and has given a Below is the key information for JM Tax Gain Fund Returns up to 1 year are on The primary objective for Franklin IndiaTaxshield is to provide medium to long term growth of capital along with income tax rebate Franklin India Taxshield is a Equity - ELSS fund was launched on 10 Apr 99. It is a fund with Moderately High risk and has given a Below is the key information for Franklin India Taxshield Returns up to 1 year are on Assets >= 100 Crore & Sorted on 3 Year CAGR Return.
1. SBI Magnum Tax Gain Fund
CAGR/Annualized return of 14.1% since its launch. Ranked 31 in ELSS category. Return for 2023 was 40% , 2022 was 6.9% and 2021 was 31% . SBI Magnum Tax Gain Fund
Growth Launch Date 7 May 07 NAV (06 Sep 24) ₹441.674 ↓ -5.06 (-1.13 %) Net Assets (Cr) ₹27,527 on 31 Jul 24 Category Equity - ELSS AMC SBI Funds Management Private Limited Rating ☆☆ Risk Moderately High Expense Ratio 1.72 Sharpe Ratio 3.23 Information Ratio 0 Alpha Ratio 0 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,736 31 Aug 21 ₹16,317 31 Aug 22 ₹17,485 31 Aug 23 ₹21,587 31 Aug 24 ₹33,995 Returns for SBI Magnum Tax Gain Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 6 Sep 24 Duration Returns 1 Month 3.4% 3 Month 11.5% 6 Month 18% 1 Year 52.5% 3 Year 26.4% 5 Year 27.4% 10 Year 15 Year Since launch 14.1% Historical performance (Yearly) on absolute basis
Year Returns 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
Name Since Tenure Dinesh Balachandran 10 Sep 16 7.89 Yr. Data below for SBI Magnum Tax Gain Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 22.87% Industrials 14.18% Consumer Cyclical 10.79% Energy 9.33% Technology 7.54% Health Care 7.29% Basic Materials 6.89% Utility 5.65% Consumer Defensive 3.92% Communication Services 3.01% Real Estate 0.95% Asset Allocation
Asset Class Value Cash 7.38% Equity 92.62% Top Securities Holdings / Portfolio
Name Holding Value Quantity GE T&D India Ltd (Industrials)
Equity, Since 30 Sep 16 | 5222755% ₹1,269 Cr 8,003,896
↓ -1,101,726 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Jun 07 | HDFCBANK4% ₹1,235 Cr 7,643,253 Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Dec 16 | M&M4% ₹993 Cr 3,415,083 Torrent Power Ltd (Utilities)
Equity, Since 31 Jul 19 | 5327793% ₹917 Cr 4,910,813
↓ -257,766 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Jan 17 | ICICIBANK3% ₹901 Cr 7,416,237 Oil & Natural Gas Corp Ltd (Energy)
Equity, Since 31 Jan 23 | 5003123% ₹836 Cr 25,000,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Mar 17 | BHARTIARTL3% ₹830 Cr 5,563,576 State Bank of India (Financial Services)
Equity, Since 31 May 06 | SBIN3% ₹814 Cr 9,335,639 Reliance Industries Ltd (Energy)
Equity, Since 30 Apr 06 | RELIANCE3% ₹734 Cr 2,437,574 ITC Ltd (Consumer Defensive)
Equity, Since 29 Feb 12 | ITC3% ₹714 Cr 14,414,825
↑ 5,578,714 2. HDFC Tax Saver Fund
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% . HDFC Tax Saver Fund
Growth Launch Date 31 Mar 96 NAV (05 Sep 24) ₹1,378.17 ↓ -3.50 (-0.25 %) Net Assets (Cr) ₹16,145 on 31 Jul 24 Category Equity - ELSS AMC HDFC Asset Management Company Limited Rating ☆☆ Risk Moderately High Expense Ratio 1.75 Sharpe Ratio 3.06 Information Ratio 1.61 Alpha Ratio 7.77 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹9,873 31 Aug 21 ₹14,770 31 Aug 22 ₹16,582 31 Aug 23 ₹19,604 31 Aug 24 ₹28,998 Returns for HDFC Tax Saver Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 6 Sep 24 Duration Returns 1 Month 5.1% 3 Month 11.8% 6 Month 17.9% 1 Year 45.3% 3 Year 24.5% 5 Year 23.7% 10 Year 15 Year Since launch Historical performance (Yearly) on absolute basis
Year Returns 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
Name Since Tenure Roshi Jain 13 Jan 22 2.55 Yr. Dhruv Muchhal 22 Jun 23 1.11 Yr. Data below for HDFC Tax Saver Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 40.39% Health Care 12.8% Technology 11.59% Consumer Cyclical 9.56% Industrials 5.61% Communication Services 5.53% Real Estate 2.14% Utility 1.51% Consumer Defensive 0.96% Energy 0.81% Basic Materials 0.72% Asset Allocation
Asset Class Value Cash 8.07% Equity 91.61% Debt 0.31% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK10% ₹1,567 Cr 12,900,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 15 | HDFCBANK9% ₹1,503 Cr 9,300,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | 5322157% ₹1,166 Cr 10,000,000 Cipla Ltd (Healthcare)
Equity, Since 31 Oct 09 | 5000875% ₹834 Cr 5,400,000 HCL Technologies Ltd (Technology)
Equity, Since 30 Sep 20 | HCLTECH5% ₹821 Cr 5,000,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 19 | BHARTIARTL5% ₹791 Cr 5,300,000 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 31 Jan 22 | SBILIFE5% ₹754 Cr 4,300,000 Infosys Ltd (Technology)
Equity, Since 30 Sep 08 | INFY4% ₹691 Cr 3,700,000 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Dec 23 | KOTAKBANK4% ₹633 Cr 3,500,000 State Bank of India (Financial Services)
Equity, Since 31 Dec 06 | SBIN3% ₹515 Cr 5,900,000 3. Motilal Oswal Long Term Equity Fund
CAGR/Annualized return of 18.8% since its launch. Return for 2023 was 37% , 2022 was 1.8% and 2021 was 32.1% . Motilal Oswal Long Term Equity Fund
Growth Launch Date 21 Jan 15 NAV (05 Sep 24) ₹52.5197 ↑ 0.30 (0.57 %) Net Assets (Cr) ₹3,835 on 31 Jul 24 Category Equity - ELSS AMC Motilal Oswal Asset Management Co. Ltd Rating Risk Moderately High Expense Ratio 0.74 Sharpe Ratio 3.45 Information Ratio 0.66 Alpha Ratio 15.46 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹9,964 31 Aug 21 ₹16,313 31 Aug 22 ₹15,950 31 Aug 23 ₹19,302 31 Aug 24 ₹31,307 Returns for Motilal Oswal Long Term Equity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 6 Sep 24 Duration Returns 1 Month 9.7% 3 Month 19.8% 6 Month 30.5% 1 Year 62.4% 3 Year 24.2% 5 Year 26.5% 10 Year 15 Year Since launch 18.8% Historical performance (Yearly) on absolute basis
Year Returns 2023 37% 2022 1.8% 2021 32.1% 2020 8.8% 2019 13.2% 2018 -8.7% 2017 44% 2016 12.5% 2015 2014 Fund Manager information for Motilal Oswal Long Term Equity Fund
Name Since Tenure Ajay Khandelwal 11 Dec 23 0.64 Yr. Niket Shah 17 Oct 23 0.79 Yr. Rakesh Shetty 22 Nov 22 1.69 Yr. Data below for Motilal Oswal Long Term Equity Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Industrials 35.43% Consumer Cyclical 21.53% Financial Services 20.51% Real Estate 8.4% Health Care 5.59% Technology 2.77% Basic Materials 2.73% Communication Services 2.31% Asset Allocation
Asset Class Value Cash 0.74% Equity 99.26% Top Securities Holdings / Portfolio
Name Holding Value Quantity Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Oct 23 | 5433208% ₹288 Cr 12,550,000 Trent Ltd (Consumer Cyclical)
Equity, Since 31 Aug 22 | 5002517% ₹257 Cr 439,590 Prestige Estates Projects Ltd (Real Estate)
Equity, Since 31 Oct 23 | PRESTIGE5% ₹192 Cr 1,055,205 Kalyan Jewellers India Ltd (Consumer Cyclical)
Equity, Since 31 Oct 23 | KALYANKJIL5% ₹191 Cr 3,296,932 Suzlon Energy Ltd (Industrials)
Equity, Since 31 Jan 24 | SUZLON4% ₹167 Cr 24,068,813
↑ 3,259,929 Inox Wind Ltd (Industrials)
Equity, Since 31 Dec 23 | INOXWIND4% ₹146 Cr 7,946,960
↑ 894,432 Bharat Dynamics Ltd Ordinary Shares (Industrials)
Equity, Since 31 Dec 23 | BDL4% ₹145 Cr 992,768 CG Power & Industrial Solutions Ltd (Industrials)
Equity, Since 30 Nov 23 | 5000934% ₹138 Cr 1,875,000 Apar Industries Ltd (Industrials)
Equity, Since 31 Dec 23 | APARINDS4% ₹137 Cr 148,305 Kaynes Technology India Ltd (Industrials)
Equity, Since 30 Jun 23 | KAYNES3% ₹133 Cr 298,614
↓ -2,386 4. JM Tax Gain Fund
CAGR/Annualized return of 10.5% since its launch. Ranked 18 in ELSS category. Return for 2023 was 30.9% , 2022 was 0.5% and 2021 was 32.2% . JM Tax Gain Fund
Growth Launch Date 31 Mar 08 NAV (06 Sep 24) ₹51.2987 ↓ -0.49 (-0.95 %) Net Assets (Cr) ₹173 on 31 Jul 24 Category Equity - ELSS AMC JM Financial Asset Management Limited Rating ☆☆☆ Risk Moderately High Expense Ratio 2.4 Sharpe Ratio 2.79 Information Ratio 0.71 Alpha Ratio 10.16 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,374 31 Aug 21 ₹16,596 31 Aug 22 ₹17,115 31 Aug 23 ₹20,445 31 Aug 24 ₹31,271 Returns for JM Tax Gain Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 6 Sep 24 Duration Returns 1 Month 6.5% 3 Month 15.1% 6 Month 26.8% 1 Year 49.1% 3 Year 22.3% 5 Year 25.5% 10 Year 15 Year Since launch 10.5% Historical performance (Yearly) on absolute basis
Year Returns 2023 30.9% 2022 0.5% 2021 32.2% 2020 18.3% 2019 14.9% 2018 -4.6% 2017 42.6% 2016 5.2% 2015 -0.6% 2014 54.9% Fund Manager information for JM Tax Gain Fund
Name Since Tenure Asit Bhandarkar 31 Dec 21 2.58 Yr. Gurvinder Wasan 1 Dec 22 1.67 Yr. Chaitanya Choksi 18 Jul 14 10.04 Yr. Data below for JM Tax Gain Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Industrials 25.28% Financial Services 16.54% Basic Materials 16.4% Consumer Cyclical 13.31% Technology 11.01% Consumer Defensive 6.93% Communication Services 3.85% Health Care 2.45% Real Estate 1.94% Utility 1.92% Asset Allocation
Asset Class Value Cash 0.37% Equity 99.63% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Aug 18 | INFY4% ₹7 Cr 35,465
↑ 8,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Nov 10 | LT4% ₹6 Cr 16,750
↑ 1,250 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Mar 22 | ICICIBANK4% ₹6 Cr 50,975 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 11 | HDFCBANK4% ₹6 Cr 37,631
↓ -1,500 Tata Motors Ltd Class A (Consumer Cyclical)
Equity, Since 31 Jul 23 | TATAMTRDVR3% ₹5 Cr 57,500 Power Finance Corp Ltd (Financial Services)
Equity, Since 30 Nov 22 | 5328102% ₹4 Cr 77,625
↓ -10,000 Suzlon Energy Ltd (Industrials)
Equity, Since 31 Mar 24 | SUZLON2% ₹4 Cr 555,000
↑ 50,000 Voltas Ltd (Industrials)
Equity, Since 31 Jan 24 | VOLTAS2% ₹4 Cr 24,500 Housing & Urban Development Corp Ltd (Financial Services)
Equity, Since 29 Feb 24 | HUDCO2% ₹4 Cr 115,000 Jyothy Labs Ltd (Consumer Defensive)
Equity, Since 31 Jul 23 | 5329262% ₹4 Cr 67,038 5. Franklin India Taxshield
CAGR/Annualized return of 21.8% since its launch. Ranked 28 in ELSS category. Return for 2023 was 31.2% , 2022 was 5.4% and 2021 was 36.7% . Franklin India Taxshield
Growth Launch Date 10 Apr 99 NAV (05 Sep 24) ₹1,504.53 ↓ -2.49 (-0.17 %) Net Assets (Cr) ₹7,060 on 31 Jul 24 Category Equity - ELSS AMC Franklin Templeton Asst Mgmt(IND)Pvt Ltd Rating ☆☆ Risk Moderately High Expense Ratio 1.83 Sharpe Ratio 2.93 Information Ratio 0.7 Alpha Ratio 6.05 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹9,737 31 Aug 21 ₹15,451 31 Aug 22 ₹16,620 31 Aug 23 ₹19,445 31 Aug 24 ₹28,424 Returns for Franklin India Taxshield
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 6 Sep 24 Duration Returns 1 Month 5.4% 3 Month 13.9% 6 Month 17.7% 1 Year 43% 3 Year 22% 5 Year 23.3% 10 Year 15 Year Since launch 21.8% Historical performance (Yearly) on absolute basis
Year Returns 2023 31.2% 2022 5.4% 2021 36.7% 2020 9.8% 2019 5.1% 2018 -3% 2017 29.1% 2016 4.7% 2015 4% 2014 56.9% Fund Manager information for Franklin India Taxshield
Name Since Tenure R. Janakiraman 2 May 16 8.25 Yr. Rajasa Kakulavarapu 1 Dec 23 0.67 Yr. Data below for Franklin India Taxshield as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 27.18% Industrials 13.95% Consumer Cyclical 12.7% Technology 9.98% Consumer Defensive 6.76% Basic Materials 5.85% Communication Services 5.49% Health Care 5.04% Utility 4.83% Energy 4.21% Real Estate 0.74% Asset Allocation
Asset Class Value Cash 2.49% Equity 97.51% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK8% ₹552 Cr 4,546,914 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 07 | HDFCBANK7% ₹492 Cr 3,045,417 Infosys Ltd (Technology)
Equity, Since 29 Feb 12 | INFY5% ₹359 Cr 1,922,741 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 07 | BHARTIARTL5% ₹352 Cr 2,356,802 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Dec 19 | LT5% ₹337 Cr 883,853 Axis Bank Ltd (Financial Services)
Equity, Since 30 Jun 14 | 5322154% ₹263 Cr 2,252,948 State Bank of India (Financial Services)
Equity, Since 31 Aug 15 | SBIN4% ₹250 Cr 2,871,107
↓ -100,000 HCL Technologies Ltd (Technology)
Equity, Since 31 Oct 21 | HCLTECH3% ₹240 Cr 1,462,587
↑ 117,001 United Spirits Ltd (Consumer Defensive)
Equity, Since 31 Oct 18 | UNITDSPR3% ₹233 Cr 1,650,000 NTPC Ltd (Utilities)
Equity, Since 31 Oct 16 | 5325553% ₹212 Cr 5,086,849
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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Nice article