The scheme seeks to achieve long term capital appreciation by predominantly investing in equities. It also offers tax benefits under Section 80C. The investments may be made in primary as well as secondary markets and scheme may also invest in overseas equity markets like ADRs/GDRs.
The Scheme seeks to generate long-term capital appreciation through a diversified portfolio of equity and equity related instruments. (80% of total assets in accordance with Equity Linked Saving Scheme, 2005 notified by Ministry of Finance)
26.0% of the combined portfolio weight is common between Canara Robeco ELSS Tax Saver Direct-Growth and Parag Parikh ELSS Tax Saver Fund Direct-Growth.
12 stocks appear in both portfolios.
The largest shared holding is HDFC Bank Ltd., at 6.62% of Canara Robeco ELSS Tax Saver Direct-Growth and 8.23% of Parag Parikh ELSS Tax Saver Fund Direct-Growth.
The two funds hold largely different portfolios, so holding both can genuinely diversify your equity exposure.
Largest common holdings
HDFC Bank Ltd.ICICI Bank Ltd.Coal India Ltd.Axis Bank Ltd.Bharti Airtel Ltd.ITC Ltd.Infosys Ltd.Maruti Suzuki India Ltd.
Canara Robeco ELSS Tax Saver Direct-Growth has delivered the higher 3-year CAGR (13.67% vs 12.15%). Parag Parikh ELSS Tax Saver Fund Direct-Growth is the cheaper of the two with an expense ratio of 0.65% against 0.68%. Canara Robeco ELSS Tax Saver Direct-Growth manages the larger corpus at ₹8.64k Cr. There is no single "better" fund — the right choice depends on your holding period, risk appetite and what you already own. Use the returns, risk and portfolio overlap tables above to judge which fits your portfolio, and remember that past returns do not guarantee future performance.
Over 1 year, Canara Robeco ELSS Tax Saver Direct-Growth returned 6.03% against -3.45% for Parag Parikh ELSS Tax Saver Fund Direct-Growth; and over 3 years, Canara Robeco ELSS Tax Saver Direct-Growth leads with a 13.67% CAGR versus 12.15%. Returns beyond one year are CAGR (annualised). Short-period returns are heavily influenced by market cycles, so compare over at least three to five years before drawing conclusions.
Parag Parikh ELSS Tax Saver Fund Direct-Growth has the lower expense ratio at 0.65%, compared with 0.68% for Canara Robeco ELSS Tax Saver Direct-Growth — a difference of 0.03% a year. The expense ratio is deducted from NAV daily, so a lower ratio directly improves your net return, though it should not be the only reason to pick a fund.
Both Canara Robeco ELSS Tax Saver Direct-Growth and Parag Parikh ELSS Tax Saver Fund Direct-Growth carry a "Very High" rating on the SEBI Riskometer. Within the same riskometer band, differences still show up in maximum drawdown, volatility and market-cap mix — all of which are compared in the tables above.
The portfolio overlap between the two funds is 26.0%, which is considered low. At this level the two funds hold largely different portfolios, so holding both can genuinely diversify your equity exposure. You can see the shared stocks in the overlap section above.
Yes — both are Equity: ELSS funds, which means they follow similar mandates and are benchmarked against comparable indices. That makes a direct comparison of returns, expense ratio and risk meaningful.
Canara Robeco ELSS Tax Saver Direct-Growth has a NAV of ₹205.88 and an AUM of ₹8.64k Cr, and was launched on 1 Jan 2013. Parag Parikh ELSS Tax Saver Fund Direct-Growth has a NAV of ₹32.73 and an AUM of ₹5.60k Cr, launched on 25 Jul 2019. NAV on its own says nothing about how expensive or cheap a fund is — only the return on it matters.
