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3 Best ELSS Funds Ranked 1 By CRISIL With 1 Year Returns Up To 79%
If you consider your risk profile, investment amount, and financial goals first, you can make the finest mutual fund investment, and it is even preferable to invest in best performing mutual funds based on performance and ratings in order to build a reasonable portfolio of risk-adjusted returns over the long term. Equity Linked Savings Scheme or ELSS funds are the equity funds that invest a significant percentage of their funds in equity or equity-related securities based on different market capitalization. It is the only tax-saving instrument under Section 80C of the Income Tax Act with a three-year lock-in period which makes it a reasonable fund to invest in.
However, if you want to have equity exposure towards companies ranging from small to large, you should look at the holdings of an ELSS fund and make a sensible portfolio diversification approach. ELSS funds allow you to start a SIP with as little as Rs 500, and we would urge our readers or investors to make SIP investments only if they want to grow wealth over time and benefit from tax benefits. We've chosen top ELSS funds that can be a part of your portfolio based on CRISIL Fund Rank 1 or 5 which indicates the past performance of the funds across different market conditions.
Quant Tax Plan Direct Growth
This fund has been in existence for the last 8 years and the 1-year returns of the Quant Tax Plan Direct-Growth are 79.62 percent. It has returned an average of 21.94 percent every year since its inception. The fund has a lower expense ratio of 0.50% and SIP in this fund can be started with a minimum contribution of Rs 500. The fund has equity sector allocation across Financial, Construction, FMCG, Metals, Energy sectors.
Reliance Industries Ltd., Vedanta Ltd., State Bank of India, ITC Ltd., and HDFC Bank Ltd. are the fund's top five holdings. The fund's NAV as of September 20, 2021 is Rs 220.17. The fund has Rs 368.44 crore in assets under management (AUM). This fund has no exit load, and investments up to Rs 1,5 lakh are tax-free under section 80C of the Income Tax Act, with returns are taxable at a rate of 10%.
BOI Axa Tax Advantage Fund Direct Growth
This ELSS mutual fund scheme has been in existence for the past 8 years and the last 1 year's BOI AXA Tax Advantage Direct-Growth returns reached 64.13 percent. It has returned an average of 19.70 percent every year since its inception. The fund levies a 1.66 percent expense ratio, which is more than most other funds in the same category. The Financial, Technology, Chemicals, Healthcare, and Services sectors account for the majority of the fund's holdings.
ICICI Bank Ltd., HDFC Bank Ltd., Infosys Ltd., Divi's Laboratories Ltd., and Bajaj Finance Ltd. are the fund's top five holdings. With a minimum contribution of Rs 500, you may start a SIP in this fund. As of September 20, 2021, the fund's NAV is Rs 112.77 and the fund's asset under management (AUM) is Rs 512.07 crore. There is no exit load on this fund.
IDFC Tax Advantage Direct Plan Growth
This ELSS fund was launched by the fund house IDFC Mutual Fund, and thus has been in existence since January 2013. The fund is a medium-sized fund in its category, with an expense ratio of 0.85 percent, which is lower than the expense ratio charged by most other ELSS funds. According to Value Research, IDFC Tax Advantage (ELSS) Direct Plan-Growth returns for the past year reached 68.05 percent, with an average yearly return of 18.86 percent since its debut.
The fund has its equity exposure across Financial, Technology, Automobile, Construction, FMCG sectors. IDFC Tax Advantage Direct Plan Growth fund's top 5 holdings are in ICICI Bank Ltd., Infosys Ltd., State Bank of India, HDFC Bank Ltd., Deepak Nitrite Ltd.. SIP in this fund can be started from Rs 500 and NAV of the fund as of 20th September is Rs 101.00 and asset under management (AUM) of the fund is Rs 3,338.88 Cr. The fund has no exit load but it charges a stamp duty fee of 0.005%.
Best Performing ELSS Funds
Here are the best ELSS funds to invest in 2021 based on past performance and ratings from different agencies.
| Funds | 1-month returns | 6-month returns | 1-year returns | 3-year returns | 5-year returns | Rating by CRISIL | Rating by Value Research | Rating by Morningstar |
|---|---|---|---|---|---|---|---|---|
| Quant Tax Plan Direct Growth | 6.36% | 34.06% | 79.62% | 32.06% | 24.00% | 1 | 5 | 5 |
| BOI Axa Tax Advantage Fund Direct Growth | 5.88% | 29.86% | 64.13% | 25.42% | 21.41% | 1 | 4 | 5 |
| IDFC Tax Advantage Direct Plan Growth | 5.15% | 23.88% | 68.05% | 18.65% | 18.16% | 1 | 4 | 4 |
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