Three best and worst performing ELSS schemes in the last year

Equity-linked saving Schemes (ELSS) are popular investment options that offer tax deductions along with the potential for capital appreciation. But with a plethora of ELSS funds available, choosing the right one can be tricky. To help you navigate this decision, we’ll explore the top 3 best and worst performers. Remember, past performance isn’t a guarantee of future results.

Top 3 best-performing ELSS tax saving schemes:

SBI Long Term Equity Fund formerly known as SBI Magnum Taxgain Scheme 1993, is an equity-linked savings scheme (ELSS) offered by SBI Mutual Fund. Launched on January 1, 2013, it falls under the Equity: ELSS category, primarily investing in equity assets. The fund’s benchmark is the S&P BSE 500 TRI index. With a Total Expense Ratio (TER) of 0.97% as of February 29, 2024, and an open-ended status, investors can start with a minimum investment of 500 rupees and top up with the same amount.

As of February 29, 2024, the fund boasts total assets worth Rs 21,202.78 crore rupees, maintaining a turnover of 15%. The Net Asset Value (NAV) as of March 22, 2024, stood at Rs 393.59. Since its inception, the fund has demonstrated a Compound Annual Growth Rate (CAGR) of 16.95%, outperforming its benchmark’s 13.65%.

The Quant ELSS Tax Saver Fund, a growth option, direct plan (formerly known as Escorts Tax Plan-Growth Option-Direct Plan) is an equity-linked savings scheme (ELSS) offered by Quant Mutual Fund. Launched on January 1, 2013, this open-ended fund falls under the equity asset class and is designed to provide tax-saving benefits along with long-term capital appreciation.

It has a benchmark of NIFTY 500 TRI and boasts a total asset size of Rs 7,769.92 crore as of February 29, 2024. The fund features a low Total Expense Ratio (TER) of 0.76% as of February 29, 2024. The NAV as of March 22, 2024, stood at Rs 380.6725. Since its inception, the fund has delivered a commendable Compounded Annual Growth Rate (CAGR) of 22.46%, outperforming its benchmark which stands at 12.5%.

The BANK OF INDIA ELSS Tax Saver, managed by Bank of India Mutual Fund, is an equity-oriented ELSS (Equity Linked Savings Scheme) launched on January 1, 2013. This open-ended scheme aims to provide investors with tax benefits while investing in equities. With a benchmark of S&P BSE 500 TRI, it has shown a commendable CAGR (Compounded Annual Growth Rate) of 19.23% since its inception, outperforming its benchmark which stands at 13.65%.

As of February 29, 2024, the fund boasts total assets of Rs 1,149.51 crore with a turnover rate of 96%, all while maintaining a low expense ratio of 1.2%. The minimum investment and top-up amount stand at Rs 500 each, making it accessible to a wide range of investors. Additionally, there is no exit load, providing flexibility to investors. As of March 22, 2024, the NAV (Net Asset Value) of the fund stands at Rs 169.14

Historical returns of the top 3 best-performing ELSS funds for FY 2024:

Data as of March 22, 2024

Top 3 worst-performing ELSS tax saving schemes:

PGIM India ELSS Tax Saver Fund managed by PGIM India Mutual Fund, falls under the Equity: ELSS category and was launched on December 11, 2015. It operates as an open-ended scheme with a minimum investment and top-up of 500 each.

As of February 29, 2024, it boasts total assets worth Rs 643.45 crore with a turnover rate of 72% and an expense ratio of 0.78%. The fund’s benchmark is the NIFTY 500 TRI, and it carries no exit load. The latest NAV (Net Asset Value) as of March 22, 2024, stands at Rs 33.02. Since its inception, the fund has delivered a CAGR (Compound Annual Growth Rate) of 15.47%, outperforming its benchmark’s 12.5% CAGR.

360 ONE ELSS Tax Saver Nifty 50 Index Fund managed by 360 ONE Mutual Fund, falls under the Equity: ELSS category and was launched on December 28, 2022. It tracks the NIFTY 50 TRI benchmark and boasts a Total Expense Ratio (TER) of 0.27% as of February 29, 2024. This open-ended scheme requires a minimum investment and top-up of 500 units each. With total assets amounting to Rs 58.44 crore as of February 29, 2024, and a turnover rate of 11%, it carries no exit load.

As of March 22, 2024, the Net Asset Value (NAV) stood at Rs 12.2569. Since its inception, the fund has demonstrated a Compound Annual Growth Rate (CAGR) of 17.85%, outperforming its benchmark’s 14.05% return.

Navi Mutual Fund offers the NAVI ELSS Tax Saver Nifty 50 Index Fund an open-ended index fund launched on 20-03-2023. The fund, categorized under Index Funds, tracks the NIFTY 50 TRI benchmark. With a total expense ratio (TER) of 0.1% as of 29-02-2024, it requires a minimum investment and top-up of 500 each.

As of 29-02-2024, its total assets amount to Rs 38.99 crore, with a turnover of 2%. The latest Net Asset Value (NAV) stands at Rs 13.11 as of 22-03-2024. Since its inception, the fund has shown a Compound Annual Growth Rate (CAGR) of 29.99%, outperforming its benchmark of 14.05%.

Historical returns of the top 3 worst-performing ELSS funds for FY 2024:

Data as of March 22, 2024

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.