ELSS Mutual Funds will help us in saving income tax under section 80C and are one of the most attractive options with lowest lock in period and also gives the investors a chance to invest part of their money in equities. The risk of investing in equities applies for the ELSS mutual funds and once can expect returns at par with diversified equity mutual funds. Every wants to invest in mutual funds that have excellent track record, consistent performance, good returns and want to see their funds in the Top 5 ELSS Mutual Funds. We have earlier written a step by step guide for selecting mutual funds and using it one will be able to shortlist the mutual funds with ease.
Today to ease things I have used the same how to guide to shortlist Top 5 ELSS Mutual Funds based on the parameters I have discussed in the mutual fund selection process. Please note that I have considered regular plans for the sake of returns data and the returns mentioned in this post are of regular plans, I suggest you to go with direct plans.
Top 5 ELSS Mutual Funds
Axis Long Term Equity Fund
Axis Long Term Equity Fund is the younger kid in the best performing ELSS Mutual funds lot with a history of 5 years but managed to impress the investors with the returns it have generated. Ever since its debut it is one of the most consistent mutual fund that have managed to beat the category average returns.
Axis Long Term Equity Fund Performance
Axis Long Term Equity Fund Year on Year Returns
Birla Sun Life Tax Plan
Birla Sun Life Tax Plan is one of the oldest mutual fund in ELSS category and have consistently beat the benchmark for last 10+ years and is from one of the most reputed fund housed in India.
Birla Sun Life Tax Plan Performance
Birla Sun Life Tax Plan Year on Year Returns
Franklin India Taxshield Fund
Same is the case Franklin India Taxshield Fund, just like Birla Sun Life Tax Plan even Franklin India Taxshield Fund is one of the oldest mutual fund in ELSS category and have consistently beat the benchmark for last 10+ years.
Franklin India Taxshield Fund Performance
Franklin India Taxshield Fund Year on Year Returns
ICICI Prudential Long Term Equity Fund (Tax Saving)
Even ICICI Prudential Long Term Equity Fund (Tax Saving) is a consistent performer and has beat the benchmarks in ELSS category with stable returns over last few years.
If consistency with low risk is what you are looking for choose among Franklin India Taxshield, Birla Sun Life Tax & ICICI Prudential Long Term Equity (Tax Saving) funds.
ICICI Prudential Long Term Equity Fund (Tax Saving) Performance
ICICI Prudential Long Term Equity Fund (Tax Saving) Year on Year Returns
Reliance Tax Saver Fund
Reliance Tax Saver Fund is one of the ELSS fund that have good track record and can give you very high returns when the market is in uptrend, although this fund doesn’t stand in Top 5 in the Standard Deviation, Sharpe Ratio and alpha parameters this fund scores high in risk reward parameters. This is many of the investors favorite ELSS Mutual Fund.
Reliance Tax Saver Fund Performance
Reliance Tax Saver Fund Year on Year Returns
Coincidentally all these mutual funds are ranked here in alphabetical order.
Best ELSS Mutual Fund Based on Returns
Top 5 ELSS Mutual Funds Based on 10 Year Returns
|#||Name of ELSS Mutual Fund||10 Year Returns|
|1||Canara Robeco Equity Tax Saver Fund||16.73%|
|2||Franklin India Taxshield Fund||16.49%|
|3||Reliance Tax Saver Fund||15.70%|
|5||ICICI Prudential Long Term Equity Fund (Tax Saving)||14.90%|
Top 5 ELSS Mutual Funds Based on 5 Year Returns
|#||Name of ELSS Mutual Fund||5 Year Returns|
|1||Axis Long Term Equity Fund||18.72%|
|2||Reliance Tax Saver Fund||14.76%|
|3||BNP Paribas Long Term Equity Fund||14.75%|
|4||Franklin India Taxshield Fund||14.36%|
|5||Religare Invesco Tax Plan||13.60%|
Top 5 ELSS Mutual Funds Based on 3 Year Returns
|#||Name of ELSS Mutual Fund||3 Year Returns|
|1||Axis Long Term Equity Fund||28.32%|
|2||Birla Sun Life Tax Relief 96 Fund||24.04%|
|3||Reliance Tax Saver Fund||23.94%|
|4||Birla Sun Life Tax Plan||23.07%|
|5||Religare Invesco Tax Plan||22.97%|
Best 5 ELSS Funds Based on Sharpe Ratio
|#||ELSS Mutual Fund||Sharpe Ratio|
|1||Axis Long Term Equity Fund||1.57|
|2||HDFC Taxsaver Fund||1.42|
|3||Birla Sun Life Tax Plan||1.15|
|4||Franklin India Taxshield Fund||1.13|
|5||Tata Long Term Equity Fund||1.11|
Best 5 ELSS Funds Based on Standard Deviation
|#||ELSS Mutual Fund||Standard Deviation|
|1||Axis Long Term Equity Fund||13.12|
|2||Tata Long Term Equity Fund||13.14|
|3||Franklin India Taxshield Fund||13.51|
|4||IDFC Tax Advantage (ELSS) Fund – Regular Plan||14.18|
|5||SBI Magnum Taxgain Scheme||14.19|
Best 5 ELSS Funds Based on Alpha
|#||ELSS Mutual Fund||Alpha|
|1||Axis Long Term Equity Fund||15.22|
|2||Birla Sun Life Tax Plan||10.73|
|3||BNP Paribas Long Term Equity Fund||9.7|
|4||Religare Invesco Tax Plan||9.64|
|5||Franklin India Taxshield Fund||9.46|
Between Us: Are you a Mutual Fund investor and if so what are the ELSS mutual funds that you are investing in and how do you like them, please share your views and ask any questions if you have any.