Groww ELSS Tax Saver Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 15, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Groww ELSS Tax Saver Fund Direct Growth Plan is at a NAV of ₹21.64 as of 11 Sep 2026 and manages ₹51 Cr of scheme assets. Its 1-year, 3-year and 5-year returns are -5.09%, 9.08% and 8.81%, and the scheme carries a High Risk profile. Our view is that this is best read as a diversified ELSS equity fund that has recovered over longer periods but has still shown a weak one-year stretch relative to its own history and to its benchmark.
The fund can suit investors who are comfortable with equity volatility, can stay invested through the 3-year ELSS lock-in, and want a portfolio that is led by large financials, telecom and other diversified businesses. The mix is not narrowly themed, but the recent return pattern shows that short-term movement can still be uneven.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹21.64 as of 11 Sep 2026 |
| AUM | ₹51 Cr |
| Expense Ratio | 0.85% |
| Launch Date | 28 Dec 2017 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | No exit load |
| Fund Managers | Paras Matalia, Nikhil Satam |
The fund is managed by Paras Matalia and Nikhil Satam.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.39% | -3.66% |
| 3M | 0.74% | -1.91% |
| 1Y | -5.09% | -7.62% |
| 3Y | 9.08% | 6.22% |
| 5Y | 8.81% | 5.84% |
Recent performance has been mixed but not uniformly weak. Over 1 month and 3 months, the fund stayed close to the benchmark path and did a little better than the index, which suggests the recent phase has been volatile rather than one-sided.
The 1-year figure is still negative, and that matters because it shows the fund has not fully escaped the weaker stretch seen across equity markets in the period. Even so, it held up better than the benchmark over the same horizon, which tells us the recent slide has been less severe than the index.
The longer view is more constructive. The 3-year and 5-year returns are both positive and ahead of the benchmark, so the fund has compounded better over full market cycles than in the recent 12 months. That split between short-term weakness and medium-term resilience is important for investors who judge ELSS funds by one year alone. Our view is that the fund’s pattern looks steadier over longer holding periods than the latest annual number might suggest.
At the same time, the gap between the 3-year and 1-year figures shows that the path has not been smooth. The series points to periods of recovery and setback, which is normal for equity funds but still relevant for anyone expecting a linear ELSS journey.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD Groww 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 Groww ELSS Tax Saver? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Groww ELSS Tax Saver Fund Direct Growth Plan | -5.09% | 9.08% | 8.81% |
| Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan | 14% | 22.26% | 17.71% |
| Quant ELSS Tax Saver Fund Direct Growth Plan | 13.68% | 13.97% | 15.53% |
| JM ELSS-Tax Saver Fund Direct Growth Plan | 9.13% | 15.84% | 14.62% |
| Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan | 6.72% | 11.46% | 15.82% |
| ITI ELSS Tax Saver Fund Direct Growth Plan | 6.44% | 16.6% | 13.28% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
Against the peer set, the fund’s 1-year return is clearly softer. Several peers have positive double-digit one-year results, while this fund is still negative, so the recent stretch has lagged stronger short-term performers.
The longer-term picture is more balanced. At 3 years, the fund is below the strongest peer figures but ahead of some others, and at 5 years it is again in the middle of the available range rather than near the strongest longer-term outcomes. That means the fund’s recent weakness does not fully define its multi-year profile, but it also has not matched the better compounders in this group.
For readers comparing ELSS funds on consistency, the key takeaway is that this scheme’s short-term and longer-term stories are different. The recent one-year period is weak, while the 3-year and 5-year numbers still show positive compounding, so the fund looks more like a recovering equity option than a steady outlier.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited | Bank | 6.41% |
| ICICI Bank Limited | Bank | 6.19% |
| Reliance Industries Limited | Crude Oil | 4.87% |
| Net Receivable/Payable | Cash & Cash Equivalents and Net Assets | 3.93% |
| Bharti Airtel Limited | Telecom | 3.35% |
| Larsen & Toubro Limited | Infrastructure | 2.87% |
| State Bank of India | Bank | 2.57% |
| Infosys Limited | IT | 2.33% |
| Kotak Mahindra Bank Limited | Bank | 1.92% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 1.91% |
The top 10 holdings account for approximately 36.35% of the portfolio.
To see all holdings, visit the Groww ELSS Tax Saver Fund Direct Growth Plan page
The largest single holding is HDFC Bank Limited at 6.41%, followed closely by ICICI Bank Limited at 6.19%. That starting point is meaningful because it shows the portfolio is anchored by large banks rather than by a single high-conviction bet.
The weight then steps down gradually rather than sharply. By the tenth holding, the exposure is 1.91%, so the gap from the top holding is noticeable but not extreme. This pattern suggests a portfolio that is tilted toward a few leading positions while still keeping a sizeable spread across the next layers.
Because the top 10 holdings make up 36.35% of the portfolio and the scheme discloses 62 holdings in total, the remaining positions likely form a long tail. That can reduce dependence on any one stock, but the top names are still likely to have greater influence on performance than the smaller positions.
Source data date: as of 11 Sep 2026
Who should invest
This fund is better suited to investors who can accept equity volatility and stay invested through the 3-year ELSS lock-in. The High Risk label is appropriate for readers who understand that a negative 1-year return can coexist with better longer-term compounding.
Its 3-year and 5-year figures are more encouraging than the 1-year number, and that makes the fund more relevant for a multi-year tax-saving allocation than for short-term use. The fact that it has outpaced the benchmark over 3 years and 5 years also supports a patient holding horizon.
The main trade-off is simple: investors may get diversified equity exposure and better long-term behaviour than the benchmark, but they must accept uneven short-term swings and periods when the fund can look weak over 12 months.
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 |
Exit load: No exit load.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of Groww ELSS Tax Saver Fund Direct Growth Plan?
The current NAV is ₹21.64 as of 11 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is -5.09%, its 3-year return is 9.08%, and its 5-year return is 8.81%.
How does the fund compare with the benchmark?
It has done better than the benchmark over 3 years and 5 years, while the 1-year figure is still negative but less weak than the benchmark’s. Over 1 month and 3 months, it also held up slightly better than the benchmark.
Who manages the fund?
The fund is managed by Paras Matalia and Nikhil Satam.
What is the tax and exit-load structure?
Units held for less than 1 year attract 20% short-term capital gains tax, while units held for more than 1 year attract 12.5% long-term capital gains tax. There is no exit load.
What does the portfolio look like at the top level?
The portfolio is led by HDFC Bank Limited, ICICI Bank Limited and Reliance Industries Limited, with the top 10 holdings accounting for approximately 36.35% of the portfolio. The scheme discloses 62 holdings in total, so the rest of the portfolio extends beyond the largest positions.
Bottom line
Groww ELSS Tax Saver Fund Direct Growth Plan has a weak 1-year showing, but its 3-year and 5-year returns tell a better story and sit ahead of the benchmark on the same horizons. Against peers, the recent one-year number is softer, while the longer-term figures remain more competitive than the latest stretch suggests. The High Risk profile and bank-heavy top holdings make it a fund for patient investors who can tolerate uneven shorter-term results.
Published on 15 September 2026 at 3:31 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.