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Top 5 Best Tax Saving ELSS Mutual Funds for FY 24 - 25
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.
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Top 5 ELSS Funds To Invest In FY 24 - 25
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) BOI AXA Tax Advantage Fund Growth ₹171.86
↑ 1.29 ₹1,327 14.6 25.3 59.2 24.2 27.3 34.8 Mahindra Mutual Fund Kar Bachat Yojana Growth ₹27.6989
↓ -0.05 ₹867 11.3 14.7 32.9 18.3 19 25.8 Principal Tax Savings Fund Growth ₹486.839
↓ -0.97 ₹1,280 9.9 15.1 33.4 18.5 18.4 24.5 BNP Paribas Long Term Equity Fund (ELSS) Growth ₹90.5952
↑ 0.11 ₹880 12.9 18 43.3 17.9 18.3 31.3 Edelweiss Long Term Equity Fund Growth ₹107.63 ₹351 13.6 19 39 19.2 17.9 26.8 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 28 Jun 24
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 Below is the key information for BOI AXA Tax Advantage Fund Returns up to 1 year are on The investment objective of the Scheme is to generate long-term capital appreciation through a diversified portfolio of equity and equity related securities. The Scheme does not guarantee or assure any returns. Mahindra Mutual Fund Kar Bachat Yojana is a Equity - ELSS fund was launched on 18 Oct 16. It is a fund with Moderately High risk and has given a Below is the key information for Mahindra Mutual Fund Kar Bachat Yojana Returns up to 1 year are on To build a high quality growth-oriented portfolio to provide long-term capital gains to the investors, the scheme aims at providing returns through capital appreciation. Principal Tax Savings 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 Principal Tax Savings Fund Returns up to 1 year are on The investment objective of the Scheme is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities along with income tax rebate, as may be prevalent fromtime to time. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns. BNP Paribas Long Term Equity Fund (ELSS) is a Equity - ELSS fund was launched on 5 Jan 06. It is a fund with Moderately High risk and has given a Below is the key information for BNP Paribas Long Term Equity Fund (ELSS) Returns up to 1 year are on (Erstwhile Edelweiss ELSS Fund) The primary objective of the scheme is to generate long-term capital appreciation with an option of periodic payouts at the end of lock in periods from a portfolio that invests predominantly in equity and equity related instruments. Edelweiss Long Term Equity Fund is a Equity - ELSS fund was launched on 30 Dec 08. It is a fund with Moderately High risk and has given a Below is the key information for Edelweiss Long Term Equity Fund Returns up to 1 year are on 1. BOI AXA Tax Advantage Fund
CAGR/Annualized return of 20.4% since its launch. Ranked 13 in ELSS category. Return for 2023 was 34.8% , 2022 was -1.3% and 2021 was 41.5% . BOI AXA Tax Advantage Fund
Growth Launch Date 25 Feb 09 NAV (28 Jun 24) ₹171.86 ↑ 1.29 (0.76 %) Net Assets (Cr) ₹1,327 on 31 May 24 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.49 Sharpe Ratio 2.92 Information Ratio 0.91 Alpha Ratio 10.21 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 May 19 ₹10,000 31 May 20 ₹9,392 31 May 21 ₹16,436 31 May 22 ₹17,299 31 May 23 ₹20,079 31 May 24 ₹30,939 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Jun 24 Duration Returns 1 Month 5.9% 3 Month 14.6% 6 Month 25.3% 1 Year 59.2% 3 Year 24.2% 5 Year 27.3% 10 Year 15 Year Since launch 20.4% Historical performance (Yearly) on absolute basis
Year Returns 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
Name Since Tenure Alok Singh 27 Apr 22 2.1 Yr. Data below for BOI AXA Tax Advantage Fund as on 31 May 24
Equity Sector Allocation
Sector Value Financial Services 27.42% Industrials 20.55% Basic Materials 15.94% Consumer Cyclical 11.14% Energy 5.82% Technology 5.29% Utility 4.42% Health Care 3.68% Consumer Defensive 3.57% Real Estate 2.04% Asset Allocation
Asset Class Value Cash 0.09% Equity 99.87% Debt 0.04% Top Securities Holdings / Portfolio
Name Holding Value Quantity State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN5% ₹62 Cr 752,000
↑ 57,000 Vedanta Ltd (Basic Materials)
Equity, Since 31 Mar 24 | 5002954% ₹54 Cr 1,211,000
↑ 77,000 Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 31 Jul 23 | HAL4% ₹50 Cr 99,900
↑ 13,900 Oil India Ltd (Energy)
Equity, Since 31 Mar 23 | OIL3% ₹45 Cr 702,000 Canara Bank (Financial Services)
Equity, Since 31 Aug 22 | 5324833% ₹41 Cr 3,500,000
↓ -225,000 NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | 5325553% ₹34 Cr 955,000
↑ 35,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK3% ₹34 Cr 223,000
↓ -32,000 Bank of Baroda (Financial Services)
Equity, Since 31 Oct 22 | 5321343% ₹34 Cr 1,286,338 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE2% ₹33 Cr 114,000
↓ -16,000 HEG Ltd (Industrials)
Equity, Since 31 Dec 22 | HEG2% ₹31 Cr 135,000
↑ 5,000 2. Mahindra Mutual Fund Kar Bachat Yojana
CAGR/Annualized return of 14.1% since its launch. Return for 2023 was 25.8% , 2022 was 2% and 2021 was 39.4% . Mahindra Mutual Fund Kar Bachat Yojana
Growth Launch Date 18 Oct 16 NAV (28 Jun 24) ₹27.6989 ↓ -0.05 (-0.19 %) Net Assets (Cr) ₹867 on 31 May 24 Category Equity - ELSS AMC Mahindra Asset Management Company Pvt. Ltd. Rating Risk Moderately High Expense Ratio 2.48 Sharpe Ratio 1.93 Information Ratio -0.17 Alpha Ratio -2.57 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 May 19 ₹10,000 31 May 20 ₹8,107 31 May 21 ₹13,647 31 May 22 ₹14,932 31 May 23 ₹17,025 31 May 24 ₹22,143 Returns for Mahindra Mutual Fund Kar Bachat Yojana
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Jun 24 Duration Returns 1 Month 5.1% 3 Month 11.3% 6 Month 14.7% 1 Year 32.9% 3 Year 18.3% 5 Year 19% 10 Year 15 Year Since launch 14.1% Historical performance (Yearly) on absolute basis
Year Returns 2023 25.8% 2022 2% 2021 39.4% 2020 14.1% 2019 4.5% 2018 -9.8% 2017 24.8% 2016 2015 2014 Fund Manager information for Mahindra Mutual Fund Kar Bachat Yojana
Name Since Tenure Manish Lodha 21 Dec 20 3.45 Yr. Fatema Pacha 16 Oct 20 3.63 Yr. Data below for Mahindra Mutual Fund Kar Bachat Yojana as on 31 May 24
Equity Sector Allocation
Sector Value Financial Services 28.66% Industrials 15.85% Consumer Cyclical 11.39% Technology 9.81% Consumer Defensive 9.2% Basic Materials 7.45% Energy 6.4% Health Care 3.29% Communication Services 2.71% Utility 2.47% Real Estate 0.8% Asset Allocation
Asset Class Value Cash 1.97% Equity 98.03% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 16 | HDFCBANK8% ₹72 Cr 472,876
↑ 41,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 19 | ICICIBANK8% ₹66 Cr 585,620
↑ 45,000 Infosys Ltd (Technology)
Equity, Since 29 Feb 20 | INFY5% ₹40 Cr 285,807 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Aug 18 | LT4% ₹36 Cr 97,771
↑ 19,200 Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 18 | RELIANCE4% ₹35 Cr 122,154
↓ -18,000 State Bank of India (Financial Services)
Equity, Since 29 Feb 24 | SBIN3% ₹25 Cr 304,000 Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 28 Feb 18 | MARUTI3% ₹25 Cr 20,039
↑ 1,963 Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 30 Apr 20 | HINDUNILVR3% ₹25 Cr 106,000
↑ 47,000 IndusInd Bank Ltd (Financial Services)
Equity, Since 30 Jun 22 | INDUSINDBK3% ₹24 Cr 165,300 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 May 19 | TCS3% ₹24 Cr 65,651 3. Principal Tax Savings Fund
CAGR/Annualized return of 16.4% since its launch. Ranked 8 in ELSS category. Return for 2023 was 24.5% , 2022 was 4.3% and 2021 was 32.1% . Principal Tax Savings Fund
Growth Launch Date 31 Mar 96 NAV (28 Jun 24) ₹486.839 ↓ -0.97 (-0.20 %) Net Assets (Cr) ₹1,280 on 31 May 24 Category Equity - ELSS AMC Principal Pnb Asset Mgmt. Co. Priv. Ltd. Rating ☆☆☆☆ Risk Moderately High Expense Ratio 2.36 Sharpe Ratio 2.03 Information Ratio -0.2 Alpha Ratio -0.82 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 May 19 ₹10,000 31 May 20 ₹7,969 31 May 21 ₹13,283 31 May 22 ₹14,627 31 May 23 ₹16,414 31 May 24 ₹21,475 Returns for Principal Tax Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Jun 24 Duration Returns 1 Month 5% 3 Month 9.9% 6 Month 15.1% 1 Year 33.4% 3 Year 18.5% 5 Year 18.4% 10 Year 15 Year Since launch 16.4% Historical performance (Yearly) on absolute basis
Year Returns 2023 24.5% 2022 4.3% 2021 32.1% 2020 18.9% 2019 2.5% 2018 -9.2% 2017 48.8% 2016 6.2% 2015 2.7% 2014 49.4% Fund Manager information for Principal Tax Savings Fund
Name Since Tenure Sudhir Kedia 29 Oct 19 4.59 Yr. Rohit Seksaria 1 Jan 22 2.42 Yr. Data below for Principal Tax Savings Fund as on 31 May 24
Equity Sector Allocation
Sector Value Financial Services 31.36% Industrials 11.52% Consumer Cyclical 10.43% Technology 8.93% Consumer Defensive 8.01% Health Care 7.45% Energy 6.63% Communication Services 5.28% Basic Materials 4.96% Real Estate 0.54% Asset Allocation
Asset Class Value Cash 4.88% Equity 95.12% Other 0% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 09 | HDFCBANK7% ₹93 Cr 606,077 Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 21 | RELIANCE6% ₹78 Cr 274,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK6% ₹74 Cr 661,000 Infosys Ltd (Technology)
Equity, Since 31 Jan 09 | INFY3% ₹44 Cr 313,000 State Bank of India (Financial Services)
Equity, Since 30 Apr 05 | SBIN3% ₹37 Cr 444,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 17 | 5322153% ₹36 Cr 311,000 Force Motors Ltd (Consumer Cyclical)
Equity, Since 30 Nov 21 | 5000333% ₹34 Cr 39,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Mar 13 | LT3% ₹33 Cr 89,021 Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 31 Aug 15 | SUNPHARMA2% ₹29 Cr 200,000
↓ -17,000 Bharti Airtel Ltd (Partly Paid Rs.1.25) (Communication Services)
Equity, Since 30 Nov 21 | 8901572% ₹28 Cr 283,000 4. BNP Paribas Long Term Equity Fund (ELSS)
CAGR/Annualized return of 12.7% since its launch. Ranked 22 in ELSS category. Return for 2023 was 31.3% , 2022 was -2.1% and 2021 was 23.6% . BNP Paribas Long Term Equity Fund (ELSS)
Growth Launch Date 5 Jan 06 NAV (28 Jun 24) ₹90.5952 ↑ 0.11 (0.12 %) Net Assets (Cr) ₹880 on 31 May 24 Category Equity - ELSS AMC BNP Paribas Asset Mgmt India Pvt. Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.37 Sharpe Ratio 2.29 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 May 19 ₹10,000 31 May 20 ₹8,880 31 May 21 ₹13,681 31 May 22 ₹13,868 31 May 23 ₹15,467 31 May 24 ₹21,698 Returns for BNP Paribas Long Term Equity Fund (ELSS)
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Jun 24 Duration Returns 1 Month 6.2% 3 Month 12.9% 6 Month 18% 1 Year 43.3% 3 Year 17.9% 5 Year 18.3% 10 Year 15 Year Since launch 12.7% Historical performance (Yearly) on absolute basis
Year Returns 2023 31.3% 2022 -2.1% 2021 23.6% 2020 17.8% 2019 14.3% 2018 -9.3% 2017 42.3% 2016 -6.6% 2015 7.7% 2014 53% Fund Manager information for BNP Paribas Long Term Equity Fund (ELSS)
Name Since Tenure Sanjay Chawla 14 Mar 22 2.22 Yr. Pratish Krishnan 14 Mar 22 2.22 Yr. Miten Vora 1 Dec 22 1.5 Yr. Data below for BNP Paribas Long Term Equity Fund (ELSS) as on 31 May 24
Equity Sector Allocation
Sector Value Financial Services 29.2% Industrials 15.72% Consumer Cyclical 10.24% Technology 10.18% Health Care 6.68% Energy 5.14% Consumer Defensive 4.63% Basic Materials 4.6% Communication Services 4.58% Utility 4.44% Real Estate 2.99% Asset Allocation
Asset Class Value Cash 1.61% Equity 98.39% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFCBANK5% ₹47 Cr 308,160 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 12 | ICICIBANK5% ₹42 Cr 371,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Oct 18 | RELIANCE4% ₹35 Cr 121,600 Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Apr 20 | LT3% ₹27 Cr 73,620 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 19 | BHARTIARTL3% ₹26 Cr 187,566 PB Fintech Ltd (Financial Services)
Equity, Since 29 Feb 24 | 5433903% ₹25 Cr 190,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 23 | 5433203% ₹24 Cr 1,345,013 Bharat Heavy Electricals Ltd (Industrials)
Equity, Since 31 Jan 24 | 5001033% ₹23 Cr 775,000 Trent Ltd (Consumer Cyclical)
Equity, Since 31 May 22 | 5002513% ₹23 Cr 49,614 Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | 5322153% ₹22 Cr 190,000 5. Edelweiss Long Term Equity Fund
CAGR/Annualized return of 16.6% since its launch. Ranked 25 in ELSS category. Return for 2023 was 26.8% , 2022 was -0.1% and 2021 was 30.4% . Edelweiss Long Term Equity Fund
Growth Launch Date 30 Dec 08 NAV (28 Jun 24) ₹107.63 Net Assets (Cr) ₹351 on 31 May 24 Category Equity - ELSS AMC Edelweiss Asset Management Limited Rating ☆☆ Risk Moderately High Expense Ratio 2.42 Sharpe Ratio 2.15 Information Ratio -0.28 Alpha Ratio -0.92 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 May 19 ₹10,000 31 May 20 ₹8,079 31 May 21 ₹12,992 31 May 22 ₹13,848 31 May 23 ₹15,666 31 May 24 ₹20,806 Returns for Edelweiss Long Term Equity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Jun 24 Duration Returns 1 Month 7.5% 3 Month 13.6% 6 Month 19% 1 Year 39% 3 Year 19.2% 5 Year 17.9% 10 Year 15 Year Since launch 16.6% Historical performance (Yearly) on absolute basis
Year Returns 2023 26.8% 2022 -0.1% 2021 30.4% 2020 13.7% 2019 9.2% 2018 -9.1% 2017 37.7% 2016 -1.1% 2015 6.7% 2014 40.5% Fund Manager information for Edelweiss Long Term Equity Fund
Name Since Tenure Ashwani Agarwalla 1 Aug 23 0.84 Yr. Trideep Bhattacharya 1 Aug 23 0.84 Yr. Data below for Edelweiss Long Term Equity Fund as on 31 May 24
Equity Sector Allocation
Sector Value Financial Services 31.83% Industrials 17.62% Consumer Cyclical 11.73% Technology 9% Health Care 5.85% Energy 5.79% Basic Materials 5.15% Consumer Defensive 5.1% Communication Services 2.41% Utility 2.21% Real Estate 1.86% Asset Allocation
Asset Class Value Cash 1.45% Equity 98.55% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 10 | HDFCBANK6% ₹20 Cr 132,882 Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Sep 15 | LT5% ₹19 Cr 51,257 ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 17 | ICICIBANK5% ₹18 Cr 163,216
↓ -4,461 Reliance Industries Ltd (Energy)
Equity, Since 30 Jun 15 | RELIANCE4% ₹16 Cr 54,330 State Bank of India (Financial Services)
Equity, Since 31 May 18 | SBIN4% ₹12 Cr 149,214 Trent Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | 5002513% ₹10 Cr 22,899 Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | 5322153% ₹9 Cr 78,106
↓ -8,072 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Oct 19 | BHARTIARTL2% ₹8 Cr 61,438 Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY2% ₹8 Cr 57,943
↑ 3,626 UltraTech Cement Ltd (Basic Materials)
Equity, Since 31 May 19 | ULTRACEMCO2% ₹8 Cr 7,910
↓ -1,390
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