Canara Rob ELSS-Tax Saver Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- August 31, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Canara Rob ELSS-Tax Saver Fund Direct Growth Plan has a NAV of ₹200.99 as of 08 Sep 2026 and a scheme AUM of ₹8,758 Cr. Its 1-year, 3-year and 5-year returns are 2.96%, 11.61% and 10.33%, and the fund sits in the High Risk category. Our view is that the fund looks more suitable for investors who can handle equity volatility and want an ELSS structure with a long enough horizon to absorb shorter swings.
The fund has been around since 01 Jan 2013, charges an expense ratio of 0.55%, and tracks Nifty 50 as its benchmark. The recent return pattern is softer than the longer-term trend, but the portfolio remains built around large, familiar businesses, which can make the overall mix easier to understand for long-term investors.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹200.99 as of 08 Sep 2026 |
| AUM | ₹8,758 Cr |
| Expense Ratio | 0.55% |
| 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 | Vishal Mishra, Shridatta Bhandwaldar |
The fund is managed by Vishal Mishra and Shridatta Bhandwaldar.
Source data date: as of 08 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.62% | -3.86% |
| 3M | 4.42% | 1.69% |
| 1Y | 2.96% | -5.72% |
| 3Y | 11.61% | 6.30% |
| 5Y | 10.33% | 6.05% |
Short-term performance has been uneven, but it still compares favourably with the benchmark over the same windows. The fund fell less than the benchmark over 1 month, then outpaced it over 3 months, which tells us the recent path has been choppy rather than one-directional.
The 1-year return is modest at 2.96%, yet the benchmark was negative over the same period, so the fund has still protected relative ground. That matters for equity investors because a weak absolute return can still be useful if it lands better than the reference index during a difficult phase.
Over 3 years and 5 years, the picture improves. The fund’s 11.61% 3-year return and 10.33% 5-year return both sit above the benchmark’s 6.30% and 6.05%, which supports a longer-term compounding case. The recent 1-year softness does not erase that longer pattern, but it does show that returns have not been smooth.
The price movement pattern over the past few years also points to a fund that has recovered after pressure points and then held gains rather than accelerating in a straight line. For investors, that usually means the strategy can work over full market cycles, but it may still feel uncomfortable in shorter periods when equity sentiment weakens.
Source data date: as of 08 Sep 2026
Should you BUY or HOLD Canara Rob 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 Canara Rob ELSS-Tax Saver? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Canara Rob ELSS-Tax Saver Fund Direct Growth Plan | 2.96% | 11.61% | 10.33% |
| Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan | 16.61% | 22.64% | 17.76% |
| Quant ELSS Tax Saver Fund Direct Growth Plan | 15.44% | 14.57% | 15.7% |
| Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan | 10.54% | 11.89% | 16.25% |
| JM ELSS-Tax Saver Fund Direct Growth Plan | 10.28% | 16.29% | 14.85% |
| ITI ELSS Tax Saver Fund Direct Growth Plan | 8.23% | 17.25% | 13.5% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On 1-year returns, this fund trails the stronger peer numbers shown here, especially Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan and Quant ELSS Tax Saver Fund Direct Growth Plan. That points to a weaker recent stretch than the more dynamic peers, even though the benchmark comparison still looks better than the index on a 1-year basis.
The 3-year and 5-year figures tell a different story. The fund’s numbers are lower than the best peer outcomes available in this group, but they remain competitive versus funds such as Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan and clearly better than the benchmark over the same horizons. So the peer set suggests a mixed picture: softer recent momentum, but acceptable medium-term compounding.
For investors, that means the fund looks less compelling on recent relative strength than some peers, while its longer-term record still holds up well enough to remain part of the conversation.
Source data date: as of 08 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Ltd | Bank | 7.11% |
| HDFC Bank Ltd | Bank | 6.13% |
| Reliance Industries Ltd | Crude Oil | 4.16% |
| State Bank of India | Bank | 3.58% |
| Bharti Airtel Ltd | Telecom | 3.5% |
| Larsen & Toubro Ltd | Infrastructure | 3.34% |
| Infosys Ltd | IT | 3.13% |
| Bajaj Finance Ltd | Finance | 3.04% |
| Axis Bank Ltd | Bank | 2.64% |
| TREPS | Cash & Cash Equivalents and Net Assets | 2.26% |
The top 10 holdings account for approximately 38.89% of the portfolio.
To see all holdings, visit the Canara Rob ELSS-Tax Saver Fund Direct Growth Plan page
ICICI Bank Ltd is the largest holding at 7.11%, so it is likely to have greater influence than any other single position in the disclosed list. HDFC Bank Ltd follows at 6.13%, which means the two largest financial holdings together already form a meaningful part of the visible core.
The weight then tapers into a broader set of positions. By the tenth holding, the allocation is down to 2.26%, so the portfolio does not rely on one or two dominant ideas alone. That drop from the first to the tenth holding suggests a moderate concentration profile rather than an extremely top-heavy one.
Even so, the visible top 10 account for 38.89% across 68 disclosed holdings, which implies the fund also keeps a longer tail of smaller positions. Our view is that this can help diversify single-stock dependence, while still leaving the larger banks and other core names with a noticeable effect on overall returns.
Source data date: as of 08 Sep 2026
Who should invest
This fund suits investors with a high tolerance for equity volatility and a holding period that can comfortably stretch beyond the ELSS lock-in. The 1-year return has been modest, but the 3-year and 5-year numbers are stronger and both sit ahead of the benchmark, which makes the fund more relevant for patient investors than for those focused on quick outcomes.
The main trade-off is that the ride may not be smooth in shorter windows. Investors who want a tax-saving equity fund with large-cap exposure and are comfortable accepting periodic swings may find the structure workable, while those who need steadier short-term behaviour may prefer a more conservative path.
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 08 Sep 2026
Frequently asked questions
What is the current NAV of Canara Rob ELSS-Tax Saver Fund Direct Growth Plan?
The NAV is ₹200.99 as of 08 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 2.96% for 1 year, 11.61% for 3 years and 10.33% for 5 years.
How does the fund compare with Nifty 50?
It has outpaced Nifty 50 over 3 years and 5 years, and it also held up better over 1 year when the benchmark was negative.
How does it compare with the peer funds shown here?
Its recent 1-year return is below the stronger peer figures shown here, while its 3-year and 5-year returns remain solid but not the highest in the group.
What is the minimum SIP amount?
There is no minimum SIP row to list here, so we are not stating a minimum amount.
Who manages the fund and what is the exit load?
The fund is managed by Vishal Mishra and Shridatta Bhandwaldar. There is no exit load after the holding period.
Bottom line
Canara Rob ELSS-Tax Saver Fund Direct Growth Plan has a mixed but respectable profile. Recent returns are softer than the longer-term trend, yet the 3-year and 5-year numbers remain ahead of the benchmark and competitive enough to keep the fund relevant for long-horizon equity investors. The risk label is High Risk, and the portfolio leans on large financial and market-leading names, with a broad tail of other holdings helping spread exposure.
Published on 9 September 2026 at 6:34 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.