Navi ELSS Tax Saver Nifty 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Navi ELSS Tax Saver Nifty 50 Index Fund Direct Growth Plan has an NAV of ₹14.1636 as of 17 Sep 2026 and a scheme AUM of ₹154 Cr. Its 1-year, 3-year and 5-year returns are -7.23%, 5.7% and 0%, and the scheme sits in the High Risk bucket.
Our view is that this is a fit for investors who want an ELSS structure with a Nifty 50 style exposure and can accept a choppy return pattern. The long-term numbers are still modest, and the recent weakness matters because the fund has not yet converted its benchmark-linked design into consistently stronger compounding.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹14.1636 as of 17 Sep 2026 |
| AUM | ₹154 Cr |
| Expense Ratio | 0.21% |
| Launch Date | 20 Mar 2023 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | No exit load |
| Fund Managers | Ashutosh Shirwaikar |
The fund is managed by Ashutosh Shirwaikar.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.65% | -3.66% |
| 3M | -3.24% | -3.71% |
| 1Y | -7.23% | -7.13% |
| 3Y | 5.7% | 5.82% |
| 5Y | Data not available | Data not available |
Recent performance has been weak, but it has not been out of line with the benchmark. Over 1 month and 3 months, the fund stayed close to the Nifty 50, with the gap small enough to suggest that the portfolio is moving broadly with the market rather than creating a distinct return pattern.
The 1-year number is still negative, and that matters more than the small short-term gap with the benchmark. A one-year return of -7.23% versus the benchmark’s -7.13% tells us the fund has mostly tracked the market downside without adding much extra value in a difficult stretch.
The 3-year return is positive at 5.7%, but it is still slightly behind the benchmark at 5.82%. That tells us the fund has delivered a modest recovery over a longer window, yet the compounding path remains subdued. The time pattern also shows interruptions and reversals rather than a clean upward run, so our view is that consistency has been limited.
A 5-year figure is not available because the scheme has not been around long enough for that horizon. For an ELSS investor, the main takeaway is that this has behaved like a fairly benchmark-led product so far, with only a small gap either way and no sign of stronger standalone momentum.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Navi ELSS Tax Saver Nifty 50 Index?
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 Navi ELSS Tax Saver Nifty 50 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Navi ELSS Tax Saver Nifty 50 Index Fund Direct Growth Plan | -7.23% | 5.7% | Data not available |
| Quant ELSS Tax Saver Fund Direct Growth Plan | 9.73% | 13.52% | 14.64% |
| Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan | 7.28% | 20.68% | 16.54% |
| JM ELSS-Tax Saver Fund Direct Growth Plan | 5.37% | 15.37% | 13.83% |
| Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan | 4.16% | 11.33% | 14.96% |
| Edelweiss ELSS Tax saver Fund Direct Growth Plan | 3.22% | 12.41% | 11.42% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On recent numbers, the fund trails the better peer outcomes by a wide margin: the 1-year return is negative while the peer set shown here is positive across all five comparators. That is a meaningful distinction for investors who are looking for stronger short-term recovery.
At the 3-year mark, the fund is still behind every peer in the table, and the gap is large enough to matter. The 5-year column is not usable for this scheme because the fund is too young, so the longer-horizon comparison is incomplete from the fund’s side even though the peer set has usable five-year figures.
So the short-term story and the peer story both point in the same direction: this scheme has been steadier than the benchmark in some recent windows, but it has not matched the stronger compounding seen in the peer examples available here.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited | Bank | 9.84% |
| ICICI Bank Limited | Bank | 9.44% |
| Reliance Industries Limited | Crude Oil | 7.82% |
| Bharti Airtel Limited | Telecom | 4.99% |
| Larsen & Toubro Limited | Infrastructure | 4.29% |
| State Bank of India | Bank | 3.97% |
| Infosys Limited | IT | 3.6% |
| Axis Bank Limited | Bank | 3.38% |
| Kotak Mahindra Bank Limited | Bank | 2.8% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 2.66% |
The largest holding, HDFC Bank Limited, is 9.84%, so no single stock dominates the portfolio by itself. The tenth holding is still 2.66%, which shows the weight curve is fairly shallow after the first few names rather than collapsing sharply into a long tail.
The top 10 holdings together account for approximately 52.79% of the portfolio, and the disclosed holding list contains 49 names. That mix suggests meaningful spread beyond the largest positions, but the top end still matters a lot because several holdings are clustered in the 3% to 10% range.
In practical terms, this may mean the fund could feel moderately concentrated in a handful of large positions while still carrying a wider underlying list. For an index-style ELSS, that balance is consistent with broad-market exposure, but the top names are likely to have greater influence on short-run movement than the smaller holdings.
To see all holdings, visit the Navi ELSS Tax Saver Nifty 50 Index Fund Direct Growth Plan page
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk and can stay invested through uneven returns. The recent 1-year decline and the modest 3-year outcome show that the path can be choppy, even though the scheme broadly tracks the Nifty 50 benchmark.
The natural horizon here is long term, mainly because ELSS uses a 3-year lock-in and because the fund’s short-term pattern has not been especially strong. Investors who want tax-saving exposure and are willing to accept benchmark-like behaviour may find the structure useful, but they should not expect sharp outperformance from the current track record.
The main trade-off is between a low-cost, index-oriented ELSS exposure and the lack of strong return leadership versus peers. That makes it more suitable for investors who value simplicity and broad-market participation over chasing a more aggressive return profile.
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.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Navi ELSS Tax Saver Nifty 50 Index Fund Direct Growth Plan?
The current NAV is ₹14.1636 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is -7.23%, the 3-year return is 5.7%, and the 5-year return is Data not available because the scheme is too young for that horizon.
How has the fund done against the Nifty 50 benchmark?
It has tracked the benchmark closely in recent periods, but it has lagged slightly over the 1-year and 3-year windows. Over 1 month and 3 months, the gap versus the benchmark has been small.
How does it compare with the peer funds shown here?
Its recent and 3-year returns are below the peer examples shown here, while the 5-year comparison is not available for this scheme. The peer set has delivered stronger returns across the available horizons.
Is there 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 Ashutosh Shirwaikar. There is no exit load.
Bottom line
This ELSS has shown a softer recent return pattern than the stronger peer examples, and its 3-year outcome is still only modestly positive. The benchmark comparison tells a similar story: the fund has stayed close to the Nifty 50, but not meaningfully ahead of it. With a High Risk label and a portfolio anchored in large-cap names, it looks better suited to investors who want tax-saving equity exposure and can tolerate uneven performance rather than those looking for a more forceful return profile.
Published on 18 September 2026 at 12:07 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.