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Best ELSS Mutual Funds 2023

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ELSS or equity linked savings scheme is like any other equity mutual fund scheme, with a crucial difference of offering tax benefits. An ELSS gives you tax deduction benefit of up to ₹1.5 lakh under Section 80C.
Decizen Rating (Understand the Method):- P: Performance, Q: Quality, UP: Upside Potential
35.82
17,630
17.9
28 Dec' 15
20.24
24.46
16.87
NA
19.46
17.37
17.33
NA
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21.73
34
15.1
28 Mar' 18
32.02
44.99
20.91
NA
22.84
26.09
15.41
NA
Unlock
20.18
55
13.3
19 Feb' 18
20.12
26.12
18.63
NA
17.69
22.83
12.71
NA
Unlock
72.63
31,411
15.5
29 Dec' 09
10.33
17.09
11.58
12.26
18.34
17.62
16.97
16.96
Unlock
119.18
5,073
18.3
26 Dec' 08
23.61
31.41
16.93
15.17
19.90
16.74
15.35
15.57
Unlock
96.18
11,863
14.5
18 Jan' 07
21.18
26.86
16.37
14.5
18.71
16.58
15.63
15.25
Unlock
119.71
843
18.5
25 Feb' 09
24.12
26.38
19.67
15.2
18.53
15.79
13.91
14.03
Unlock
90.81
2,167
14.1
29 Dec' 06
19.88
20.26
12.92
12.73
17.31
15.70
15.46
15.42
Unlock
34.42
90
8.3
31 Mar' 08
24.57
27.08
17.03
14.35
18.27
15.41
13.47
13.27
Unlock
130.61
5,981
18.8
02 Feb' 09
14.97
22.62
16.44
13.42
16.92
15.22
14.38
14.31
Unlock
276.07
4,606
15.2
31 Mar' 00
15.48
34.97
24.51
21.11
24.82
18.90
14.66
11.16
Unlock
21.30
33
12.9
05 Jul' 17
29.64
44.16
19.23
NA
17.49
18.89
11.20
NA
Unlock
18.48
285
11.8
27 Mar' 18
12.82
22.39
14.6
NA
15.19
18.19
12.21
NA
Unlock
20.08
35
13.5
23 Mar' 18
18.26
27.01
14.76
NA
15.21
17.15
12.26
NA
Unlock
388.14
1,084
14.2
31 Mar' 96
18.38
25.66
13.82
13.04
17.96
15.69
14.36
12.31
Unlock
32.19
34
14.7
01 Apr' 15
16.63
29.19
20.25
NA
18.09
15.69
14.28
NA
Unlock
22.13
38
13
24 Mar' 17
31.73
44.73
19.93
NA
16.29
15.21
10.43
NA
Unlock
677.90
11,228
19.1
19 Aug' 99
17.15
24.74
13.09
11.8
17.15
14.99
14.74
14.68
Unlock
87.05
4,089
12.9
23 Nov' 05
21.09
25.38
16.04
14.37
17.24
14.58
13.48
12.48
Unlock
1058.05
5,247
21
10 Apr' 99
23.73
29.33
14.01
12.71
16.95
14.54
14.13
14.71
Unlock
66.47
724
11.3
05 Jan' 06
17.98
18.86
13.64
11.18
15.53
14.50
14.07
12.79
Unlock
45.13
14,050
10.2
10 Mar' 08
14.05
13.09
7.57
11.03
15.38
14.19
13.96
14.40
Unlock
45.13
14,050
10.2
10 Mar' 08
14.05
13.09
7.57
11.03
15.38
14.19
13.96
14.40
Unlock
64.28
197
11.8
05 Jan' 07
18.31
23.47
13.04
11.26
15.67
13.87
13.20
13.10
Unlock
294.10
15,587
11.7
31 Mar' 93
32.56
28.53
16.65
12.66
16.36
13.86
12.79
11.58
Unlock
92.72
12,544
13.2
21 Sep' 05
21.31
28.33
11.09
9.28
17.83
13.78
13.30
14.07
Unlock
27.31
560
13.7
11 Dec' 15
17.82
25.79
14.56
NA
15.70
13.59
13.48
NA
Unlock
92.17
3,295
13.4
27 Feb' 06
19.47
21.23
11.5
11.93
15.45
13.40
13.29
13.62
Unlock
33.17
3,556
14.3
13 Oct' 14
18.72
23.87
14.71
NA
14.15
13.27
11.65
NA
Unlock
80.96
256
15.2
30 Dec' 08
17.4
22.15
12.65
11.41
14.91
13.26
12.52
12.66
Unlock
159.59
3,141
11.7
01 Aug' 05
14.28
22.92
13.97
11.65
15.00
13.23
12.20
11.31
Unlock
25.54
78
14.6
18 Nov' 16
31.45
44.07
19.64
NA
16.92
13.20
10.43
NA
Unlock
49.37
696
14.5
23 Dec' 11
18.94
25.11
16.08
11.59
14.69
13.18
11.10
13.23
Unlock
32.69
2,535
14.6
21 Jan' 15
26.51
27.21
14.51
NA
15.13
13.06
11.30
NA
Unlock
114.31
956
9.9
31 Mar' 98
16.05
21.43
12.78
11.4
14.98
12.91
12.00
10.55
Unlock
173.76
1,638
15
02 May' 05
16.95
23.91
12.44
11.58
15.04
12.80
11.87
12.42
Unlock
90.30
137
15.9
23 Dec' 08
20.51
23.97
11.12
10.63
14.36
12.57
12.39
12.44
Unlock
952.19
11,286
18
31 Mar' 96
24.2
28.55
13.39
11.07
16.25
12.57
12.24
12.99
Unlock
137.99
65
10
31 Mar' 96
23.16
21.06
12.3
12.1
14.34
12.30
11.99
12.00
Unlock
22.27
656
12.2
18 Oct' 16
21.03
26.89
14.59
NA
12.61
12.20
10.98
NA
Unlock
179.22
2,493
15.1
28 Mar' 03
15.9
21.7
11.33
10.16
13.64
11.91
11.17
10.74
Unlock
14.95
37
7.2
28 Dec' 17
14.56
18.08
10.17
NA
8.98
11.42
7.13
NA
Unlock
23.52
61
11.7
30 Dec' 15
19.63
20.18
11.84
NA
12.11
10.02
9.98
NA
Unlock
23.16
1,932
22.2
24 Jul' 19
21.07
24.3
NA
NA
26.27
25.29
NA
NA
Unlock
23.90
30
19.3
19 Oct' 18
20.04
25.37
NA
NA
21.30
23.39
NA
NA
Unlock
16.55
198
13.6
18 Oct' 19
22.59
19.25
NA
NA
18.16
16.19
NA
NA
Unlock
17.35
39
12.5
25 Jan' 19
14.52
17.19
NA
NA
12.71
14.14
NA
NA
Unlock
11.62
16
33
20 Mar' 23
NA
NA
NA
NA
NA
NA
NA
NA
Unlock
10.90
44
11.7
28 Dec' 22
NA
NA
NA
NA
NA
NA
NA
NA
Unlock
12.02
61
27.1
22 Dec' 22
NA
NA
NA
NA
NA
NA
NA
NA
Unlock
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*Based on the Fund’s Ranking within its Category
FAQ's
ELSS or equity linked savings scheme is like any other equity mutual fund scheme, with a crucial difference of offering tax benefits. An ELSS gives you tax deduction benefit of up to ₹1.5 lakh under Section 80C.
Quality of the portfolio, consistency of returns, upside potential and Expense ratio are few parameters you should look at while choosing an ELSS fund. Read, 'How to choose the Best ELSS Fund' for details.
Every fund is assessed on the following:
  1. Consistent Outperformers : Track record of having generated returns above a benchmark on a 3-year rolling basis. Consistent performers are Green, followed by Orange. Red have an inconsistent track record on outperforming the index.
  2. The average 3-year rolling returns number appears in the first button.
  3. Quality of Portfolio is assessed based on the quality of each stock held. Predominantly high quality stocks get a Green second button, followed by Orange and Red (large amount of risky stocks).
  4. Upside Potential: Every fund is assessed on what returns it could deliver in the next 5 years based on it.
Select the fund that is Green on Performance which shows it has consistently outperformed the index. Select one with a high average 3-year rolling returns - the number in the first button. And select one with a Green rating on Quality-the second button.
Use the Funds Screener and select the category. It shows the funds with Green on Performance and Quality right on the top. The ones with the higher average 3-year rolling returns are ranked the highest. Funds with less than 5 years returns history are colored Grey on Performance. Since the track record is not for an adequately long period they feature lower in the list.
Build a well-diversified portfolio with funds that assures you of a stable growth through market and economic cycles and funds that enhance your portfolio returns over the long run.
  1. Core Funds: Choose from Large cap, Large and Mid cap and Flexicap funds.
  2. Booster Funds
    1. Choose from Mid and Small cap funds.
    2. Select a Sector or Thematic Fund that is likely to outperform in the long term.
Use the Fund Portfolio Analyzer, Sher-ya-Billi to check if your portfolio will deliver healthy returns or disappoint you. Go to Fund Portfolio Analyzer. You can also upload details of your funds in the Portfolio Manager and see the report on this page.
When adding a new fund check how different is the fund compared to your portfolio by using the link in the Right allocation box on the Fund Decision Maker.
Most investors have more, many more funds that they should-over diversified. This tends to reduce returns. Many investors have more of the same i.e. they have funds that have very similar portfolios and hence the fund portfolio is not well-diversified. Either there are too many large cap dominated funds or far too many mid and small cap funds. What you require is a good, balanced mix. Finally investors don't know when to exit a fund and end up carrying it even though the future upside potential is very low.