Bandhan ELSS-Tax Saver Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Bandhan ELSS-Tax Saver Fund Direct Growth Plan had a NAV of ₹176.519 as of 09 Sep 2026 and an AUM of ₹7,004 Cr. Its 1-year, 3-year and 5-year returns are 1.68%, 9.05% and 11.73%. The fund sits in the High Risk bucket, so our view is that it fits investors who can tolerate sharp swings and still stay invested through weak phases.
What stands out is that the fund has protected longer-term gains better than the recent one-year trend suggests, while still trailing the benchmark over the short and medium term. The portfolio is built around banks, large private lenders, energy, IT and telecom names, so it may suit investors who want an equity tax-saving fund with a sizeable tilt toward established businesses rather than a narrow theme.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹176.519 as of 09 Sep 2026 |
| AUM | ₹7,004 Cr |
| Expense Ratio | 0.65% |
| 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 | Daylynn Pinto |
The fund is managed by Daylynn Pinto.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.72% | -4.69% |
| 3M | 3.06% | 0.93% |
| 1Y | 1.68% | -7.16% |
| 3Y | 9.05% | 6% |
| 5Y | 11.73% | 5.87% |
Recent movement has been uneven. Over the last month, the fund fell, but it still held up better than the benchmark, which also declined more sharply. The three-month reading shows a modest recovery, and the fund moved ahead of the benchmark over that shorter window.
The one-year figure is much softer than the 3-year and 5-year readings, which tells us the fund entered a weaker stretch after a steadier longer run. Even so, the fund stayed ahead of the benchmark across 1-year, 3-year and 5-year periods, which is a useful sign for investors who care about relative resilience rather than only absolute return.
The longer-term pattern is still constructive. The 3-year and 5-year returns show that the fund has compounded at a slower pace than a high-octane equity strategy, but with a better outcome than the benchmark over the same spans. Our view is that this makes the fund more suitable for investors who can accept short-term softness in exchange for a steadier multi-year compounding profile.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD Bandhan 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 Bandhan ELSS-Tax Saver? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan ELSS-Tax Saver Fund Direct Growth Plan | 1.68% | 9.05% | 11.73% |
| 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.
On the recent one-year measure, this fund sits well below the stronger peer readings, especially the mid-teens numbers delivered by Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan and Quant ELSS Tax Saver Fund Direct Growth Plan. That said, the gap narrows on the longer horizon because Bandhan ELSS-Tax Saver Fund Direct Growth Plan has been more stable than some peers that have shown sharper swings in their 3-year and 5-year outcomes.
Even with that steadier long-term shape, the fund still trails the stronger peer figures on both 3-year and 5-year returns. The short-term comparison and the longer-term comparison therefore tell different stories: the recent period looks weak, while the multi-year record is more respectable but still not among the stronger peer outcomes. For our view, that means the fund is more about moderate compounding than standout growth.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited | Bank | 7.9% |
| Reliance Industries Limited | Crude Oil | 6.35% |
| Kotak Mahindra Bank Limited | Bank | 5.85% |
| ICICI Bank Limited | Bank | 5.53% |
| Triparty Repo TRP_030826 | Cash & Cash Equivalents and Net Assets | 4.84% |
| Tata Consultancy Services Limited | IT | 4.22% |
| Infosys Limited | IT | 3.07% |
| Axis Bank Limited | Bank | 2.81% |
| Maruti Suzuki India Limited | Automobile & Ancillaries | 2.74% |
| Bharti Airtel Limited | Telecom | 2.67% |
The top 10 holdings account for approximately 45.98% of the portfolio.
To see all holdings, visit the Bandhan ELSS-Tax Saver Fund Direct Growth Plan page
The largest holding, HDFC Bank Limited, carries a 7.9% weight, which is meaningful but not overpowering on its own. The next few positions also stay in a relatively tight band, with Reliance Industries Limited at 6.35%, Kotak Mahindra Bank Limited at 5.85% and ICICI Bank Limited at 5.53%, so influence is spread across several large names rather than resting on one stock.
The drop from the first holding to the tenth is moderate rather than dramatic: the tenth position, Bharti Airtel Limited, still has a 2.67% weight. That pattern suggests the visible book is balanced across a cluster of large-cap businesses, with no single position dominating the disclosed holdings.
Because the top 10 holdings account for 45.98% of a 49-holding portfolio, the fund may still have a reasonably long tail beyond the largest names. Our view is that this mix could help reduce dependence on any one stock, while the bank-heavy top end may make the portfolio more sensitive to financial-sector moves.
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who can handle High Risk exposure and remain patient through weaker phases. The one-year return is soft, but the 3-year and 5-year numbers show that the fund has still compounded over longer periods, and it has done so ahead of the benchmark across those horizons.
The main trade-off is straightforward: you get a tax-saving equity fund with a sizeable large-cap tilt and a diversified list of holdings, but you also accept the possibility that shorter stretches may lag better peer outcomes. In our view, it fits a long investment horizon and a tolerance for volatility more than a need for smooth near-term performance.
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 after holding period.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of Bandhan ELSS-Tax Saver Fund Direct Growth Plan?
The current NAV is ₹176.519 as of 09 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 1.68%, the 3-year return is 9.05% and the 5-year return is 11.73%.
How does the fund compare with the benchmark?
It has beaten the benchmark across 1-year, 3-year and 5-year periods. The benchmark return is -7.16% over 1 year, 6% over 3 years and 5.87% over 5 years.
How does it compare with peer funds on recent returns?
The recent one-year return is lower than the stronger peer figures in the comparison set, while the longer-term record is more competitive but still below the better peer outcomes on 3-year and 5-year numbers.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Daylynn Pinto. There is no exit load after the holding period.
Bottom line
Bandhan ELSS-Tax Saver Fund Direct Growth Plan has a softer one-year showing than its longer-term record, but the 3-year and 5-year numbers still point to a fund that has compounded ahead of the benchmark. Peer comparisons tell a mixed story: the fund is weaker on recent return and still trails stronger multi-year peer outcomes, yet its path has been steadier than the sharpest swings seen elsewhere. The portfolio is tilted toward large banks and other established businesses, which may appeal to investors seeking a tax-saving equity fund with a large-cap bias and tolerance for High Risk exposure.
Published on 10 September 2026 at 10:37 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.