UTI ELSS Tax Saver Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI ELSS Tax Saver Fund Direct Growth Plan is at ₹223.4531 as of 09 Sep 2026, with scheme AUM of ₹3,482 Cr. Its 1-year, 3-year and 5-year returns are -1.59%, 8.25% and 7.79%, respectively, and the fund sits in the High Risk bucket.
Our view is that this is a fund for investors who can tolerate equity volatility and prefer a tax-saving ELSS structure with a meaningful large-cap banking tilt. The longer-term numbers are steadier than the latest 1-year reading, but the recent patch has been softer than the 3-year and 5-year track.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹223.4531 as of 09 Sep 2026 |
| AUM | ₹3,482 Cr |
| Expense Ratio | 0.91% |
| Launch Date | 02 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 | Amit Premchandani |
The fund is managed by Amit Premchandani.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.17% | -4.69% |
| 3M | 2.67% | 0.93% |
| 1Y | -1.59% | -7.16% |
| 3Y | 8.25% | 6.00% |
| 5Y | 7.79% | 5.87% |
The short-term picture is mixed rather than weak across the board. Over 1 month, the fund declined less than the benchmark, and over 3 months it moved ahead of the benchmark by a wider margin. That tells us the recent stretch has been better than the index, even though the 1-year return remains negative.
The 1-year number is the main reminder that this is still an equity fund with noticeable swings. The portfolio path over the past year shows a rise, a sharp setback and then a partial recovery, so the latest reading does not look like a smooth compounding line. That kind of movement is consistent with the fund’s High Risk classification.
Over 3 years and 5 years, the fund has stayed ahead of the benchmark on the available return figures. The gap is not dramatic, but it is clear enough to show that the fund has compounded better than the Nifty 50 over those horizons. In our view, the longer record is more useful here than the one-year number because ELSS funds are usually judged over a full market cycle.
What matters for investors is that the recent behaviour is less comfortable than the longer-term record. The fund has shown it can participate in equity upside, but it has also given back gains at times. That makes the return pattern suitable for investors who care more about tax efficiency and multi-year compounding than near-term stability.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD UTI 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 UTI ELSS Tax Saver? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI ELSS Tax Saver Fund Direct Growth Plan | -1.59% | 8.25% | 7.79% |
| 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% | 14.7% |
| Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan | 8.53% | 11.5% | 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.
The fund’s latest 1-year return trails all five peer funds listed here, while its 3-year and 5-year figures are also lower than every peer shown. That means the short-term and longer-term peer comparisons tell the same story: the fund has been steadier than the benchmark on some recent windows, but it has not kept pace with the stronger peer set on the longer horizons.
For investors, the important point is not one weak period but the repeat pattern across the comparison windows. The fund’s return profile looks more muted than the peer group on the available figures, so the case for it rests more on the ELSS structure and portfolio construction than on recent relative performance.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Eq – HDFC Bank Limited | Bank | 7.58% |
| Eq – ICICI Bank Ltd | Bank | 7.31% |
| Eq – Kotak Mahindra Bank Ltd. | Bank | 4.22% |
| Eq – Bharti Airtel Ltd. | Telecom | 4.16% |
| Eq – Axis Bank Ltd. | Bank | 3.66% |
| Eq – Bajaj Finance Ltd. | Finance | 2.96% |
| Eq – Reliance Industries Ltd. | Crude Oil | 2.75% |
| Eq – Infosys Ltd. | IT | 2.6% |
| Eq – Mahindra & Mahindra Ltd. | Automobile & Ancillaries | 2.59% |
| Eq – State Bank of India | Bank | 2.44% |
The top 10 holdings account for approximately 40.27% of the portfolio.
To see all holdings, visit the UTI ELSS Tax Saver Fund Direct Growth Plan page
This is a fairly concentrated visible book at the top, led by HDFC Bank at 7.58% and ICICI Bank at 7.31%. The gap from the largest holding to the tenth is noticeable, but not extreme, which suggests the biggest positions are important without completely dominating the portfolio.
Bank stocks account for several of the largest individual weights, so the fund may be more sensitive to moves in that part of the market than a more evenly spread ELSS portfolio. At the same time, the top 10 holdings together represent about 40.27% of the disclosed portfolio, and the presence of 59 total holdings indicates the remaining exposure is spread across a longer tail.
Our view is that this balance between a meaningful core and a broader set of smaller positions may help limit single-stock dependence, while still leaving the portfolio with clear active tilts. That structure can support multi-year compounding, but it also means results may vary materially when large financial holdings or broader equity sentiment move sharply.
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk equity exposure and can stay invested for the full ELSS holding period and beyond. The 1-year return has been weak, but the 3-year and 5-year figures are positive and better than the benchmark, which points to a fund that may reward patience more than short holding periods.
The main trade-off is that you get tax-saving equity exposure with a bank-heavy core, but you must accept volatility and the possibility of stretches where returns lag stronger peers. In our view, it is better aligned with investors who want multi-year participation in equities and can tolerate uneven year-to-year outcomes.
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 | 12.5% | Long-term capital gains tax |
No exit load after holding period
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of UTI ELSS Tax Saver Fund Direct Growth Plan?
The current NAV is ₹223.4531 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is -1.59%, its 3-year return is 8.25% and its 5-year return is 7.79%.
How does the fund compare with the Nifty 50 benchmark?
It has beaten the Nifty 50 over 3 years and 5 years, while the 1-year return has been less negative than the benchmark’s. The 1-month and 3-month figures also show the fund ahead of the benchmark in the shorter windows.
How does it compare with the peer funds listed here?
Its recent and longer-term returns are below the peer funds shown here on the available figures. That makes the comparison less about relative performance and more about whether the fund’s portfolio and ELSS fit are right for the investor.
Is there a minimum SIP amount?
The minimum SIP amount is not stated here, so we do not list one.
Who manages the fund and what is the exit load?
The fund is managed by Amit Premchandani. No exit load applies after the holding period.
Bottom line
UTI ELSS Tax Saver Fund Direct Growth Plan has a mixed short-term record, but its 3-year and 5-year returns are better than the benchmark, which keeps the longer-term case intact. The fund has lagged the peer set on the available return figures, so the appeal is not recent momentum. Its High Risk profile and bank-heavy top holdings suggest a portfolio that can move meaningfully with equity sentiment. For investors who want ELSS exposure and can stay patient through volatility, the fund may still be a reasonable fit.
Published on 10 September 2026 at 3:51 PM 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.