Most Consistent performing ELSS regular scheme

Most Consistent performing ELSS Regular scheme between 2018-2023

There were 35 ELSS regular equity funds in India as on 31 Dec 2O23. The number of ELSS regular schemes have remained same since 2018. In past six years, between 2018 and 2023, twenty-four of these funds have competed for top ten as only 24 out of 35 were in existence for over 10-yr investment period. Only a few funds have manged to remain in the top slot during different point of time. Ironically there was only one most consistent performing ELSS regular scheme which remained on the top five position in past six years.

This analysis is based on the 10yr investment period returns of regular fund schemes in the large-cap segment.  For the analysis we took three different years with a gap of atleast two years with the NAV value for all the existing fund schemes in the yearend, the last working day of the year for the analysis.

In between 2018 and 2023, the return delivered by the top performing scheme has gone up from 20% in 2018 for 10-yr investment period to 21.4% in 2021 and to 24.9% in 2023 but the none on the top performing schemes were able to retain the top-3 positions during the analysed period.

Quant ELSS Tax Saver Fund is the fund which has remained top ranked in both 2021 and 2023 but it failed to make it to even top ten rank during 2018 for 10-yr investment period. Similarly, Invesco India ELSS Tax Saver Fund fell from second rank in 2018 to fourth rank in 2021 and finally by end of 2023 it was at eight rank, Invesco’s returns for the 10-yr period also kept falling for the 10-yr investment period.

ELSS Regular Schemes- Performance ranking 2018-2023

Rank2018Return 10 Year (%) Regular2021Return 10 Year (%) Regular2023Return 10 Year (%) Regular
1ICICI Prudential ELSS Tax Saver20.16Quant ELSS Tax Saver Fund21.44Quant ELSS Tax Saver Fund24.97
2Invesco India ELSS Tax Saver Fund19.41Axis ELSS Tax Saver Fund20.87Bank of India ELSS Tax Saver Fund18.41
3Aditya Birla Sun Life ELSS Tax Saver Fund19.11Bandhan ELSS Tax Saver Fund19.60DSP ELSS Tax Saver Fund18.36
4DSP ELSS Tax Saver Fund18.64DSP ELSS Tax Saver Fund19.45JM ELSS Tax Saver Fund17.94
5Franklin India ELSS Tax Saver Fund18.59Invesco India ELSS Tax Saver Fund18.81Bandhan ELSS Tax Saver Fund17.74
6Nippon India ELSS Tax Saver Fund18.52Bank of India ELSS Tax Saver Fund18.66Kotak ELSS Tax Saver Fund17.49

Data Source: AMFI

Most Consistent ELSS Regular scheme between 2018-2023

DSP ELSS Tax Saver Fund: DSP ELSS scheme is the most consistent ELSS regular scheme between 2018 and 2023. DSP scheme has remained in the top five position for all the three periods under analysis -2018, 2021 and 2023. It has maintained its consistency despite dramatic changes in the top performing fund ranks during the six-year period of analysis. DSP ELSS is the only fund the segment which remained in the top five positions for all the three periods of 2018, 2021 and 2023.

DSP has consistently delivered returns between 18-20% range for 10-yr investment period during the past six years. By end of 2023, DSP ELSS Tax Save Fund’s rank improved from fourth to third.