January 3, 2024

Best ELSS Mutual Funds

Best ELSS Mutual Fund

The table below shows the best ELSS Mutual fund based on AUM, NAV and Minimum Investment.

ELSS Mutual FundsAUMNAVMinimum Investment
Axis Long Term Equity Fund32,325.0677.55500.00
Mirae Asset Tax Saver Fund16,633.9838.81500.00
SBI Long Term Equity Fund15,374.28300.36500
Aditya Birla SL ELSS Tax Relief 9614,252.7048.58500.00
Nippon India Tax Saver (ELSS) Fund12,634.3897.23500.00
DSP Tax Saver Fund11,804.88101.81500.00
HDFC TaxSaver11,296.28988.03500
ICICI Pru LT Equity Fund (Tax Saving)11,256.69727.67500.00
Canara Rob Equity Tax Saver Fund5,978.94139.34500.00
Franklin India Taxshield5,249.731,119.94500.00

Content:

Best Performing ELSS Mutual Funds

The table below shows the best performing  ELSS Mutual funds based on AUM.

ELSS Mutual FundsAUM
Axis Long Term Equity Fund32,325.06
Mirae Asset Tax Saver Fund16,633.98
SBI Long Term Equity Fund15,374.28
Aditya Birla SL ELSS Tax Relief 9614,252.70
Nippon India Tax Saver (ELSS) Fund12,634.38
DSP Tax Saver Fund11,804.88
HDFC TaxSaver11,296.28
ICICI Pru LT Equity Fund (Tax Saving)11,256.69
Canara Rob Equity Tax Saver Fund5,978.94
Franklin India Taxshield5,249.73

Top Performing ELSS Funds

The table below shows the top performing ELSS funds based on lowest to highest expense ratio.

ELSS Mutual FundsExpense Ratio (%)
Navi ELSS Tax Saver Nifty 50 Index Fund0.11
360 ONE ELSS Nifty 50 Tax Saver Index Fund0.27
Navi ELSS Tax Saver Fund0.4
Mirae Asset Tax Saver Fund0.49
ITI Long Term Equity Fund0.5
Quant Tax Plan0.57
Kotak Tax Saver Fund0.57
Canara Rob Equity Tax Saver Fund0.57
NJ ELSS Tax Saver Scheme0.61
WOC Tax Saver Fund0.64

Best ELSS Mutual Fund

The table below shows the best ELSS Mutual fund based on Absolute Return.

ELSS Mutual FundsAbsolute Return (%)
SBI LT Advantage Fund-VI26.62
Sundaram LT Micro Cap Tax Adv Fund-Sr IV26.03
Sundaram LT Micro Cap Tax Adv Fund-Sr III25.88
Sundaram LT Tax Adv Fund-Sr IV25.42
Sundaram LT Micro Cap Tax Adv Fund-Sr VI25.24
Sundaram LT Tax Adv Fund-Sr III24.99
Sundaram LT Micro Cap Tax Adv Fund-Sr V23.68
SBI Long Term Equity Fund23.17
Bandhan Tax Advt(ELSS) Fund18.75
Motilal Oswal Long Term Equity Fu18.36

Top 10 ELSS Mutual Funds

The table below shows the top 10  ELSS Mutual funds based on CAGR 3-Year Return.

ELSS Mutual FundsCAGR 3Y
Sundaram LT Micro Cap Tax Adv Fund-Sr VI44.81
Sundaram LT Micro Cap Tax Adv Fund-Sr IV43.79
Sundaram LT Micro Cap Tax Adv Fund-Sr V43.27
Sundaram LT Tax Adv Fund-Sr III43.02
Sundaram LT Micro Cap Tax Adv Fund-Sr III42.91
Sundaram LT Tax Adv Fund-Sr IV42.82
Quant Tax Plan36.94
SBI LT Advantage Fund-IV34.9
Bandhan Tax Advt(ELSS) Fund32.39
SBI Tax Advantage Fund-III31.45

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Best ELSS Mutual Fund – FAQs  

1. Which platform is best for ELSS?

The most convenient method is by using an Alice Blue  Investment Services Account. While the tax benefit is limited to INR 1.5 lakh, there are no restrictions on the amount you can invest.

2. Are ELSS funds worth it?

ELSS funds are an attractive choice for investors with a long-term investment horizon who aim to participate in the stock markets and avail tax benefits. There are multiple ELSS funds, so conducting thorough research and selecting a fund that aligns with your financial goals while effectively reducing your tax burden is crucial.

3. Which type of mutual fund is best for tax savers?

ELSS mutual funds are an attractive tax-saving option as they have the shortest lock-in period of just three years among all Section 80C investment choices under the Income Tax Act, 1961.

4. Can I invest 1 lakh in ELSS?

Although there is no cap on the investment amount, only up to Rs. 1.5 lakh is eligible for tax deduction as per the IT Act.

5. Is ELSS risk-free?

ELSS is an equity-oriented mutual fund with similar risks to other equity fund schemes. Market, volatility, and concentration risks can impact all ELSS mutual funds.

6. Is PPF better than ELSS?

Over an extended investment period, ELSS tends to yield significantly higher returns compared to PPF. PPF provides favourable tax benefits and excellent capital safety, while ELSS offers the potential for better returns.

Introduction to Best ELSS Mutual Fund

Best Performing ELSS Mutual Funds – AUM

Axis Long Term Equity Fund

Axis Long Term Equity Fund is a tax-saving mutual fund under the ELSS (Equity Linked Savings Scheme) category. The fund aims to provide long-term capital growth along with tax benefits to investors by investing primarily in equities.

Mirae Asset Tax Saver Fund

Mirae Asset Tax Saver Fund is an ELSS mutual fund that seeks capital appreciation along with tax benefits. The fund invests predominantly in equities across market capitalizations.

SBI Long Term Equity Fund

SBI Long Term Equity Fund is an ELSS mutual fund that aims to provide long-term capital appreciation and tax benefits. The fund primarily invests in equities with the goal of generating sustainable growth.

Top Performing Elss Funds – Expense ratio

Navi ELSS Tax Saver Nifty 50 Index Fund

Navi ELSS Tax Saver Nifty 50 Index Fund is a tax-saving mutual fund that tracks the Nifty 50 Index’s performance while offering potential tax benefits to investors under the ELSS scheme.

360 ONE ELSS Nifty 50 Tax Saver Index Fund

360 ONE ELSS Nifty 50 Tax Saver Index Fund is an Equity Linked Savings Scheme (ELSS) that invests in the Nifty 50 Index stocks, offering potential tax advantages to investors.

Navi ELSS Tax Saver Fund

Navi ELSS Tax Saver Fund is an Equity Linked Savings Scheme (ELSS) mutual fund that aims to provide long-term capital growth along with tax benefits. The fund predominantly invests in equities, offering investors an opportunity to grow their investments while availing tax deductions under Section 80C of the Income Tax Act. It combines potential capital appreciation with tax savings, making it a popular choice for investors seeking both growth and tax advantages.

Best ELSS Mutual Fund – Absolute Return

SBI LT Advantage Fund-VI

SBI LT Advantage Fund-VI is an ELSS scheme offered by SBI Mutual Fund. The fund’s investment objective is to provide long-term capital appreciation and tax benefits. It invests predominantly in equity and equity-related instruments, focusing on growth opportunities in the market.

Sundaram LT Micro Cap Tax Adv Fund-Sr IV

Sundaram LT Micro Cap Tax Adv Fund-Sr IV is a series of the Sundaram Long Term Micro Cap Tax Advantage Fund. The fund focuses on investing in micro-cap stocks with the intention of capital appreciation along with tax benefits.

Sundaram LT Micro Cap Tax Adv Fund-Sr III

Sundaram LT Micro Cap Tax Adv Fund-Sr III is another series of the Sundaram Long Term Micro Cap Tax Advantage Fund. The fund aims to achieve long-term growth by investing in micro-cap stocks while providing tax benefits.

Top 10 Elss Mutual Funds – CAGR 3-Year Return

Sundaram LT Micro Cap Tax Adv Fund-Sr VI

Sundaram Long Term Micro Cap Tax Advantage Fund – Series VI is an ELSS scheme offered by Sundaram Mutual Fund. The fund aims for long-term capital appreciation and tax benefits under Section 80C. Sundaram LT Micro Cap Tax Adv Fund-Sr VI

Sundaram LT Micro Cap Tax Adv Fund-Sr IV

Sundaram LT Micro Cap Tax Adv Fund-Sr IV is a series of the Sundaram Long Term Micro Cap Tax Advantage Fund. The fund focuses on investing in micro-cap stocks with the intention of capital appreciation along with tax benefits.

Sundaram LT Micro Cap Tax Adv Fund-Sr V

Sundaram LT Micro Cap Tax Adv Fund-Sr V is yet another series of the Sundaram Long Term Micro Cap Tax Advantage Fund. The fund emphasizes investing in micro-cap stocks to attain capital appreciation and tax advantages.

Disclaimer: Please note that mutual fund performances are subject to market risks, and it’s always essential to review the latest scheme-related documents and consult with a financial advisor before making any investment decisions.

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