Nippon India ELSS Tax Saver Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Nippon India ELSS Tax Saver Fund Direct Growth Plan had a NAV of ₹142.3389 as of 09 Sep 2026 and an AUM of ₹14,718 Cr. Its 1-year, 3-year and 5-year returns are 1.89%, 11.73% and 11.88%, and the scheme sits in the High Risk category.
Our view is that this is a large equity tax-saving fund with a return profile that looks steadier over longer periods than over the latest year. The portfolio is led by banks, but it also holds meaningful exposure to power, telecom, IT and other sectors, so the fund is not narrowly tied to one theme.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹142.3389 as of 09 Sep 2026 |
| AUM | ₹14,718 Cr |
| Expense Ratio | 1.01% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | No exit load after holding period |
| Fund Managers | Rupesh Patel, Ritesh Rathod |
The fund is managed by Rupesh Patel and Ritesh Rathod.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.15% | -4.69% |
| 3M | 1.97% | 0.93% |
| 1Y | 1.89% | -7.16% |
| 3Y | 11.73% | 6.00% |
| 5Y | 11.88% | 5.87% |
The latest year has been much softer than the longer-run numbers. The 1-year return of 1.89% is modest, but it still compares better than the benchmark’s -7.16% over the same period. That tells us the fund protected capital better than the index during a difficult stretch, even though the absolute return was not strong.
The 3-year and 5-year figures are much closer to the kind of compounding investors usually want from an equity ELSS fund. At 11.73% and 11.88%, the fund has stayed ahead of the benchmark’s 6.00% and 5.87% over those horizons. That gap matters because it suggests the strategy has done more than just hold up in a weak year; it has also compounded better over a full market cycle.
The recent pattern is mixed but not alarming. The 1-month return was negative, while the 3-month figure was positive, which points to short-term swings rather than a one-way trend. The medium-term path is more important here, and that path remains comfortably stronger than the benchmark. For an ELSS investor, that combination usually matters more than one weak recent year.
The time pattern also suggests the fund has had periods of recovery after softer phases, rather than a smooth climb. That kind of behaviour is normal for an equity fund with High Risk tagging, but it does mean investors need patience through drawdowns if they want the longer-term return profile to work in their favour.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD Nippon India ELSS Tax Saver?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Nippon India ELSS Tax Saver? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Nippon India ELSS Tax Saver Fund Direct Growth Plan | 1.89% | 11.73% | 11.88% |
| Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan | 15.62% | 22.46% | 17.66% |
| Quant ELSS Tax Saver Fund Direct Growth Plan | 15.48% | 14.66% | 15.71% |
| JM ELSS-Tax Saver Fund Direct Growth Plan | 9.59% | 16.11% | 14.70% |
| Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan | 8.53% | 11.50% | 15.93% |
| ITI ELSS Tax Saver Fund Direct Growth Plan | 7.64% | 17.03% | 13.34% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the latest one-year numbers, the fund trails the strongest peer returns by a wide margin, while still staying ahead of the benchmark. The longer horizon picture is more balanced: its 3-year and 5-year returns are below the strongest peer figures available, but they remain respectable and clearly above the benchmark. That split tells us the fund has been more moderate than the fastest-moving ELSS peers, especially in the recent year, yet its longer-run record still shows meaningful equity participation.
For investors comparing consistency across horizons, the fund’s 3-year and 5-year numbers are closer to the middle of the peer group than to the very best available figures. The short-term and long-term stories therefore differ: the recent year is subdued, but the multi-year record is better anchored. That makes the return pattern more suitable for investors who care about steadier compounding than chasing the strongest short-term surge.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Limited | Bank | 7.41% |
| HDFC Bank Limited | Bank | 6.60% |
| Axis Bank Limited | Bank | 4.15% |
| State Bank of India | Bank | 3.53% |
| Samvardhana Motherson International Limited | Automobile & Ancillaries | 3.48% |
| NTPC Limited | Power | 3.11% |
| Reliance Industries Limited | Crude Oil | 2.95% |
| Infosys Limited | IT | 2.93% |
| Bharti Airtel Limited | Telecom | 2.82% |
| Radico Khaitan Limited | Alcohol | 2.59% |
The largest holding is ICICI Bank Limited at 7.41%, which is a meaningful but not dominating single position for an equity fund of this size. The next three holdings are also banks, so the top of the portfolio is clearly tilted toward financials, even though the remaining positions add other sectors such as power, telecom, IT and crude oil.
The drop from the first holding to the tenth is gradual rather than abrupt. That suggests the portfolio is not built around one or two outsized bets; instead, several positions may contribute to returns and risk. With the top ten holdings accounting for 39.57% of the portfolio and 58 holdings disclosed in total, the fund appears reasonably spread across a longer tail of smaller positions.
That structure may reduce the chance that a single stock drives the entire outcome, while still leaving the banking basket likely to have greater influence than any other sector group. The mix therefore looks moderately concentrated at the top and broader underneath, which is typical of an active equity ELSS strategy that still keeps multiple return drivers in play.
To see all holdings, visit the Nippon India ELSS Tax Saver Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who can handle High Risk equity swings and are willing to stay invested for at least the full ELSS lock-in plus a longer horizon beyond that. The 1-year return has been weak, but the 3-year and 5-year numbers are much stronger, so patience matters more than trying to time short-term moves.
It may appeal to investors who want tax-saving equity exposure with a portfolio that is not confined to one theme. The trade-off is clear: you accept short-term volatility, including periods when returns lag the stronger peer numbers, in exchange for a longer-run record that has been more stable than the latest year suggests.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.50% | Long-term capital gains tax |
Exit load: No exit load after holding period.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of Nippon India ELSS Tax Saver Fund Direct Growth Plan?
The current NAV is ₹142.3389 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 1.89%, the 3-year return is 11.73% and the 5-year return is 11.88%.
How has the fund performed versus Nifty 50?
It has stayed ahead of Nifty 50 over 3 years and 5 years, and it also held up better over 1 year even though the absolute return was modest.
How does the fund compare with peer ELSS funds on recent returns?
Its 1-year return is lower than the stronger peer figures shown, while its 3-year and 5-year returns are also below the highest peer numbers available. The longer-term record is still ahead of the benchmark.
Does the fund have a minimum SIP amount?
Yes. The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Rupesh Patel and Ritesh Rathod. The exit load is no exit load after holding period.
Bottom line
Nippon India ELSS Tax Saver Fund Direct Growth Plan shows a clear split between a soft latest year and a steadier longer-run record. It has stayed ahead of the benchmark over 3 and 5 years, while the peer comparison shows that its returns are more moderate than the strongest recent peer numbers. The portfolio is led by banks, but it also spreads into several other sectors, which may help balance individual stock influence. For investors comfortable with High Risk equity exposure and a longer holding period, the fund offers a tax-saving structure with a history of more dependable multi-year compounding than its recent year alone suggests.
Published on 10 September 2026 at 10:39 AM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.