Which ELSS funds have given the best returns over 3 years?

Over a 3-year period, the best performing ELSS funds are Quant ELSS Tax Saver Fund - Direct Plan with a 23.69% CAGR, Sundaram Long Term Tax Advantage Fund Series IV - Direct Plan with 19.50% CAGR, and Sundaram Long Term Tax Advantage Fund Series III - Direct Plan with 19.27% CAGR. The category average 3-year return stands at 14.01% CAGR.

Which ELSS funds have given the best returns over 5 years?

Over a 5-year period, the top ELSS funds are Quant ELSS Tax Saver Fund - Direct Plan with a 20.48% CAGR, Sundaram Long Term Tax Advantage Fund Series IV - Direct Plan with 20.33% CAGR, and Sundaram Long Term Tax Advantage Fund Series III - Direct Plan with 20.02% CAGR. The category average 5-year return is 13.17% CAGR.

What are the largest ELSS mutual funds by assets?

The largest ELSS funds by Assets Under Management (AUM) are Axis ELSS Tax Saver Fund - Direct Plan with ₹ 31,566.10 crore, SBI ELSS Tax Saver Fund - Direct Plan with ₹ 31,093.90 crore, and Mirae Asset ELSS Tax Saver Fund - Direct Plan with ₹ 25,266.70 crore. Together, there are 52 ELSS funds available in India.

What is the minimum amount to invest in ELSS funds?

You can start investing in ELSS funds with a minimum SIP of ₹500 per month or a minimum lumpsum of ₹500. The minimum investment varies across fund houses — some funds allow even lower entry points.

How are ELSS fund returns taxed?

Gains from ELSS funds held for less than 12 months are taxed at 20% (Short-Term Capital Gains). Gains on units held for 12 months or more are taxed at 12.5% (Long-Term Capital Gains), with ₹1.25 lakh per year being exempt per financial year. Dividends (IDCW) are taxed at your applicable income tax slab rate.

Which ELSS funds have the lowest expense ratio?

Among ELSS funds, Navi ELSS Tax Saver Nifty 50 Index Fund - Direct Plan has the lowest expense ratio at 0.27% (Direct Plan), followed by 360 ONE ELSS Tax Saver Nifty 50 Index Fund - Direct Plan at 0.36%. Lower expense ratios directly improve your net returns over the long term.

How many ELSS mutual funds are available in India?

There are currently 52 ELSS mutual funds available in India across different fund houses. You can compare all 52 funds on Sharpely based on returns, risk, AUM, and expense ratio to find the one that suits your investment goals.

What is the lock-in period for ELSS funds?

ELSS funds have a mandatory lock-in of 3 years per unit from the date of investment. For SIP investments, each monthly instalment has its own 3-year lock-in. The top performing ELSS funds currently are Quant ELSS Tax Saver Fund - Direct Plan, Sundaram Long Term Tax Advantage Fund Series IV - Direct Plan, and Sundaram Long Term Tax Advantage Fund Series III - Direct Plan.

mutual funds category

Elss

ELSS Funds

Q: What are the top performing ELSS funds?

Based on 1-year returns, the top performing ELSS funds are Quant ELSS Tax Saver Fund - Direct Plan with 11.73% return, Sundaram Long Term Tax Advantage Fund Series IV - Direct Plan with 9.96% return, and Sundaram Long Term Tax Advantage Fund Series III - Direct Plan with 9.36% return. The category average 1-year return is -1.43%.

Equity-Linked Savings Schemes (ELSS) funds allow investors to reduce their taxable income up to Rs. 1.5 lakh under Section 80C of the Income Tax Act. According to SEBI, they must invest 80% of their total funds in equities and have a lock-in period of 3 years.

Total Schemes

No. of schemes

Total AUM

₹ 2.39Lakh Cr

As on latest

Category Return (5Y)

13.17 %

CAGR

Benchmark

12.29%

NIFTY 500 TRI

Category Returns (%)

Period	1M	6M	1Y	3Y CAGR	5Y CAGR	10Y CAGR	YTD
ELSS	-1.12 %	-6.10 %	-1.43 %	14.01 %	13.17 %	14.48 %	-5.50 %
Benchmark	-0.98 %	-5.95 %	-0.83 %	13.55 %	12.29 %	13.90 %	-5.75 %

Top ELSS Funds (by AUM)

Fund Name	AUM (₹ Cr)	1Y Return	3Y CAGR	5Y CAGR	Expense Ratio
Axis ELSS Tax Saver Fund - Direct PlanNAV: ₹103.09	31,566.10 Cr	-3.63%	10.71%	7.93%	0.87%
SBI ELSS Tax Saver Fund - Direct PlanNAV: ₹458.25	31,093.90 Cr	-2.06%	19.27%	17.35%	0.93%
Mirae Asset ELSS Tax Saver Fund - Direct PlanNAV: ₹54.86	25,266.70 Cr	2.04%	15.19%	13.18%	0.66%
DSP ELSS Tax Saver Fund - Direct PlanNAV: ₹149.18	16,336.60 Cr	-2.54%	16.78%	14.38%	0.87%
HDFC ELSS Tax Saver Fund - Direct PlanNAV: ₹1,421.37	15,559.50 Cr	-4.83%	16.27%	16.72%	1.11%
Nippon India ELSS Tax Saver Fund - Direct PlanNAV: ₹140.55	14,742.50 Cr	1.11%	16.45%	14.68%	1.02%
Aditya Birla Sun Life ELSS Tax Saver - Direct PlanNAV: ₹66.55	14,378.20 Cr	1.13%	13.91%	9.37%	0.98%
ICICI Prudential ELSS Tax Saver - Direct PlanNAV: ₹992.08	13,911.40 Cr	-2.32%	13.27%	12.41%	1.09%
Quant ELSS Tax Saver Fund - Direct PlanNAV: ₹444.58	12,505.70 Cr	11.73%	19.05%	17.47%	1.25%
Canara Robeco ELSS Tax Saver Fund - Direct PlanNAV: ₹192.51	8,529.18 Cr	-0.59%	13.42%	12.42%	0.66%
Bandhan ELSS Tax Saver Fund - Direct PlanNAV: ₹172.50	6,835.31 Cr	0.62%	12.73%	13.74%	0.69%
Kotak ELSS Tax Saver - Direct PlanNAV: ₹129.89	6,112.43 Cr	-2.36%	12.99%	13.30%	0.70%
Franklin India ELSS Tax Saver Fund - Direct PlanNAV: ₹1,537.23	6,106.17 Cr	-5.71%	14.57%	13.66%	1.51%
Parag Parikh ELSS Tax Saver Fund - Direct PlanNAV: ₹31.34	5,617.03 Cr	-6.75%	12.29%	14.19%	0.63%
Motilal Oswal ELSS Tax Saver Fund - Direct PlanNAV: ₹61.51	4,658.52 Cr	3.70%	23.69%	19.29%	0.89%

About ELSS Funds

What is it?

Objective

The objective of the ELSS funds is to promote saving and investing habits among individuals. They aim to generate maximum return for investors by investing majorly in equity instruments.

Suitability and opinion

ELSS funds are most suitable for investors looking to reduce their tax liabilities. We feel investors can take advantage of tax benefits and capital appreciation. We believe that investors should understand the risks involved in this category and should not invest blindly for tax advantages as these funds are market-linked. Also, you should invest in these funds only if you have a time horizon of at least 3 years as these funds have a lock-in period of 3 years.

ELSS vs Other Categories

5Y CAGR Return Comparison

14.08%

13.21%

13.17%

12.85%

12.07%

Thematic-Quant

Thematic-Consumption

ELSS

Flexi Cap

Sectoral-Banking

Key Insights

ELSS delivered 13.17% CAGR over the last 5 years.

It ranks #18 out of 24 categories based on 5Y performance.

Below the category average return of 15.13%.

17 categories outperform it, while 6 categories have lower returns.

Top performer: Thematic-PSU (24.47%).

Lowest performer: Sectoral-Technology (8.85%).

Let's have a closer look

Now let us jump and check about these top 15 mutual fund schemes.

Axis ELSS Tax Saver Fund - Direct Plan

Fund Performance: Axis ELSS Tax Saver Fund - Direct Plan has given 10.71% annualized returns in the past three years and 7.93% in the last 5 years. The Axis ELSS Tax Saver Fund - Direct Plan comes under the Equity category of Axis Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Axis ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 31,566.10Cr

1Y Returns

-3.63%

Expense Ratio

0.87%

SBI ELSS Tax Saver Fund - Direct Plan

Fund Performance: SBI ELSS Tax Saver Fund - Direct Plan has given 19.27% annualized returns in the past three years and 17.35% in the last 5 years. The SBI ELSS Tax Saver Fund - Direct Plan comes under the Equity category of SBI Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in SBI ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 31,093.90Cr

1Y Returns

-2.06%

Expense Ratio

0.93%

Mirae Asset ELSS Tax Saver Fund - Direct Plan

Fund Performance: Mirae Asset ELSS Tax Saver Fund - Direct Plan has given 15.19% annualized returns in the past three years and 13.18% in the last 5 years. The Mirae Asset ELSS Tax Saver Fund - Direct Plan comes under the Equity category of Mirae Asset Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Mirae Asset ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 25,266.70Cr

1Y Returns

2.04%

Expense Ratio

0.66%

DSP ELSS Tax Saver Fund - Direct Plan

Fund Performance: DSP ELSS Tax Saver Fund - Direct Plan has given 16.78% annualized returns in the past three years and 14.38% in the last 5 years. The DSP ELSS Tax Saver Fund - Direct Plan comes under the Equity category of DSP Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in DSP ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 16,336.60Cr

1Y Returns

-2.54%

Expense Ratio

0.87%

HDFC ELSS Tax Saver Fund - Direct Plan

Fund Performance: HDFC ELSS Tax Saver Fund - Direct Plan has given 16.27% annualized returns in the past three years and 16.72% in the last 5 years. The HDFC ELSS Tax Saver Fund - Direct Plan comes under the Equity category of HDFC Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in HDFC ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 15,559.50Cr

1Y Returns

-4.83%

Expense Ratio

1.11%

Nippon India ELSS Tax Saver Fund - Direct Plan

Fund Performance: Nippon India ELSS Tax Saver Fund - Direct Plan has given 16.45% annualized returns in the past three years and 14.68% in the last 5 years. The Nippon India ELSS Tax Saver Fund - Direct Plan comes under the Equity category of Nippon India Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Nippon India ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 14,742.50Cr

1Y Returns

1.11%

Expense Ratio

1.02%

Aditya Birla Sun Life ELSS Tax Saver - Direct Plan

Fund Performance: Aditya Birla Sun Life ELSS Tax Saver - Direct Plan has given 13.91% annualized returns in the past three years and 9.37% in the last 5 years. The Aditya Birla Sun Life ELSS Tax Saver - Direct Plan comes under the Equity category of Aditya Birla Sun Life Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Aditya Birla Sun Life ELSS Tax Saver - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 14,378.20Cr

1Y Returns

1.13%

Expense Ratio

0.98%

ICICI Prudential ELSS Tax Saver - Direct Plan

Fund Performance: ICICI Prudential ELSS Tax Saver - Direct Plan has given 13.27% annualized returns in the past three years and 12.41% in the last 5 years. The ICICI Prudential ELSS Tax Saver - Direct Plan comes under the Equity category of ICICI Prudential Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in ICICI Prudential ELSS Tax Saver - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 13,911.40Cr

1Y Returns

-2.32%

Expense Ratio

1.09%

Quant ELSS Tax Saver Fund - Direct Plan

Fund Performance: Quant ELSS Tax Saver Fund - Direct Plan has given 19.05% annualized returns in the past three years and 17.47% in the last 5 years. The Quant ELSS Tax Saver Fund - Direct Plan comes under the Equity category of Quant Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Quant ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 12,505.70Cr

1Y Returns

11.73%

Expense Ratio

1.25%

Canara Robeco ELSS Tax Saver Fund - Direct Plan

Fund Performance: Canara Robeco ELSS Tax Saver Fund - Direct Plan has given 13.42% annualized returns in the past three years and 12.42% in the last 5 years. The Canara Robeco ELSS Tax Saver Fund - Direct Plan comes under the Equity category of Canara Robeco Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Canara Robeco ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 8,529.18Cr

1Y Returns

-0.59%

Expense Ratio

0.66%

Bandhan ELSS Tax Saver Fund - Direct Plan

Fund Performance: Bandhan ELSS Tax Saver Fund - Direct Plan has given 12.73% annualized returns in the past three years and 13.74% in the last 5 years. The Bandhan ELSS Tax Saver Fund - Direct Plan comes under the Equity category of Bandhan Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Bandhan ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 6,835.31Cr

1Y Returns

0.62%

Expense Ratio

0.69%

Kotak ELSS Tax Saver - Direct Plan

Fund Performance: Kotak ELSS Tax Saver - Direct Plan has given 12.99% annualized returns in the past three years and 13.30% in the last 5 years. The Kotak ELSS Tax Saver - Direct Plan comes under the Equity category of Kotak Mahindra Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Kotak ELSS Tax Saver - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 6,112.43Cr

1Y Returns

-2.36%

Expense Ratio

0.70%

Franklin India ELSS Tax Saver Fund - Direct Plan

Fund Performance: Franklin India ELSS Tax Saver Fund - Direct Plan has given 14.57% annualized returns in the past three years and 13.66% in the last 5 years. The Franklin India ELSS Tax Saver Fund - Direct Plan comes under the Equity category of Franklin Templeton Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Franklin India ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 6,106.17Cr

1Y Returns

-5.71%

Expense Ratio

1.51%

Parag Parikh ELSS Tax Saver Fund - Direct Plan

Fund Performance: Parag Parikh ELSS Tax Saver Fund - Direct Plan has given 12.29% annualized returns in the past three years and 14.19% in the last 5 years. The Parag Parikh ELSS Tax Saver Fund - Direct Plan comes under the Equity category of PPFAS Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Parag Parikh ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 1,000.00.

Min Investment Amt

₹ 500.00

AUM

₹ 5,617.03Cr

1Y Returns

-6.75%

Expense Ratio

0.63%

Motilal Oswal ELSS Tax Saver Fund - Direct Plan

Fund Performance: Motilal Oswal ELSS Tax Saver Fund - Direct Plan has given 23.69% annualized returns in the past three years and 19.29% in the last 5 years. The Motilal Oswal ELSS Tax Saver Fund - Direct Plan comes under the Equity category of Motilal Oswal Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Motilal Oswal ELSS Tax Saver Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 500.00

AUM

₹ 4,658.52Cr

1Y Returns

3.70%

Expense Ratio

0.89%

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Frequently asked questions

Based on average 5-year rolling returns, the best ELSS funds for SIP are Sundaram Long Term Tax Advantage Fund Series III - Direct Plan with 5-year average rolling return of 26.44%, SBI Long Term Advantage Fund Series IV - Direct Plan with 25.00%, and Sundaram Long Term Micro Cap Tax Advantage Fund Series VI - Direct Plan with 24.03%. You can start a SIP in ELSS funds with as little as ₹500 per month.

Investments in ELSS funds qualify for a tax deduction of up to ₹1.5 lakh per year under Section 80C of the Income Tax Act (old tax regime only). If you are in the 30% tax bracket, this can save you up to ₹46,800 in taxes annually. The top performing ELSS funds this year are Quant ELSS Tax Saver Fund - Direct Plan with 11.73% return, Sundaram Long Term Tax Advantage Fund Series IV - Direct Plan with 9.96%, and Sundaram Long Term Tax Advantage Fund Series III - Direct Plan with 9.36%.