Parag Parikh ELSS Tax Saver Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- August 28, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Parag Parikh ELSS Tax Saver Fund Direct Growth Plan closed at ₹31.0064 as of 15 September 2026, with an AUM of ₹5,613 Cr. Its 1-year, 3-year and 5-year returns are -10.79%, 7.92% and 10.66%, and it sits in the High Risk category. Our view is that this is a fund for investors who can tolerate equity volatility and stay invested through weaker stretches, because the recent setback has not erased the steadier longer-term compounding pattern.
The fund’s return profile has been uneven over the latest year, but the longer horizon is still positive and has stayed ahead of the benchmark over 3 years and 5 years. The portfolio is also fairly concentrated in a limited set of holdings, so the scheme can feel different from a broad, evenly spread equity fund.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹31.0064 as of 15 Sep 2026 |
| AUM | ₹5,613 Cr |
| Expense Ratio | 0.62% |
| Launch Date | 24 Jul 2019 |
| Min SIP | ₹1,000 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | No exit load |
| Fund Managers | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta |
The fund is managed by Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani and Raj Mehta.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.18% | -4.81% |
| 3M | -2.46% | -3.63% |
| 1Y | -10.79% | -8.27% |
| 3Y | 7.92% | 5.59% |
| 5Y | 10.66% | 5.58% |
The last year has been the softest part of the fund’s record here. The 1-year return is negative, and that tells us the scheme has not been immune to the pressure that also affected the benchmark, though its fall has been a little deeper than the Nifty 50 over the same period.
Shorter-term behaviour has improved relative to the one-year picture. Both the 1-month and 3-month numbers are still negative, but the fund has held up slightly better than the benchmark in each case, which suggests the recent recovery has been uneven rather than decisive. That matters for investors because the fund can lag in a weak patch even when the longer track record remains constructive.
Over 3 years and 5 years, the story is more stable. The fund has stayed ahead of the benchmark in both periods, and the gap is meaningful enough to show that the longer compounding path has been stronger than the index’s. The pattern in the chart also points to a fund that moved through a stretched drawdown and then rebuilt value in steps rather than in a straight line.
For us, the key read-through is that this is not a smooth defensive equity option. It has still created positive long-term returns, but investors need to be comfortable with patchy short-term performance and periods when the benchmark may look cleaner.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Parag Parikh 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 Parag Parikh ELSS Tax Saver? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Parag Parikh ELSS Tax Saver Fund Direct Growth Plan | -10.79% | 7.92% | 10.66% |
| Quant ELSS Tax Saver Fund Direct Growth Plan | 13.68% | 13.97% | 15.53% |
| Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan | 8.8% | 21.01% | 16.82% |
| Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan | 6.72% | 11.46% | 15.82% |
| Edelweiss ELSS Tax saver Fund Direct Growth Plan | 6.42% | 13.21% | 12.17% |
| JM ELSS-Tax Saver Fund Direct Growth Plan | 6.09% | 15.31% | 13.81% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the recent one-year number, the fund trails the stronger peer readings quite clearly, even though a few peers are also well above the benchmark. The longer view is mixed: its 3-year and 5-year returns are positive, but several peers have stronger numbers across one or both of those horizons, so the fund looks more balanced than leading on peer return data.
The short-term and longer-term stories are therefore different. The latest year looks weak, while the 3-year and 5-year periods show positive compounding that is above the benchmark. That split tells us the fund has recovered from earlier pressure, but the recovery has not been enough to match the better peer outcomes shown here.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Bajaj Holdings & Investment Limited | Finance | 7.32% |
| HDFC Bank Limited | Bank | 7.29% |
| Power Grid Corporation of India Limited | Power | 6.41% |
| Coal India Limited | Mining | 5.88% |
| Maharashtra Scooters Limited | Finance | 5.76% |
| ICICI Bank Limited | Bank | 5.14% |
| ITC Limited | FMCG | 4.7% |
| Kotak Mahindra Bank Limited | Bank | 4.55% |
| HCL Technologies Limited | IT | 4.48% |
| Maruti Suzuki India Limited | Automobile & Ancillaries | 3.84% |
The largest holding, Bajaj Holdings & Investment Limited, carries a 7.32% weight, which is large enough to matter but not so large that one stock dominates the scheme on its own. The tenth holding is still 3.84%, so the drop from the top name to the tenth is moderate rather than dramatic.
The combined weight of the displayed holdings is 55.37%, and the fund has 31 disclosed holdings in total. That mix suggests meaningful concentration in the top layer, while also leaving room for a broader tail of smaller positions. For investors, that means the fund may be influenced more by its larger positions than a highly diversified index-like portfolio would be.
Several of the biggest positions sit in finance, banking and other large established businesses, with additional exposure to power, mining, FMCG, IT and automobiles. That spread can help reduce dependence on any single industry, but the top holdings still appear influential enough that stock selection is likely to remain an important driver of outcomes.
To see all holdings, visit the Parag Parikh ELSS Tax Saver Fund Direct Growth Plan page
Source data date: as of 15 Sep 2026
Who should invest
This fund fits investors who can handle High Risk equity swings and are willing to stay invested for at least a medium to long horizon. The 1-year decline shows that shorter holding periods can be uncomfortable, while the 3-year and 5-year figures still show positive compounding and a lead over the benchmark.
The main trade-off is that the scheme may lag cleaner peers in sharp or choppy phases even though its longer record remains constructive. Its concentrated top holdings can add to that unevenness, so the fund is better suited to investors who value long-term equity growth and can accept an irregular ride along the way.
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 15 Sep 2026
Frequently asked questions
What is the current NAV of Parag Parikh ELSS Tax Saver Fund Direct Growth Plan?
The current NAV is ₹31.0064 as of 15 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is -10.79%, the 3-year return is 7.92% and the 5-year return is 10.66%.
How does the fund compare with the benchmark?
It is ahead of the Nifty 50 over 3 years and 5 years, but it trails the benchmark over 1 year and is also slightly weaker over the recent 1-month and 3-month periods.
How does it compare with peers on available return data?
Its latest one-year return is weaker than the stronger peer readings shown here, while the 3-year and 5-year figures are positive but not the strongest in the peer set.
What is the exit load and tax treatment?
There is no exit load. Tax is 20% for units held less than 1 year and 12.5% for units held more than 1 year.
Who manages this fund?
The fund is managed by Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani and Raj Mehta.
Bottom line
Parag Parikh ELSS Tax Saver Fund Direct Growth Plan has a weak recent year, but its 3-year and 5-year returns remain positive and sit ahead of the benchmark. Against peers, the latest one-year result looks softer, while the longer record is respectable without standing out at the top of the group. The High Risk label and the fairly concentrated top holdings mean this is best viewed as an equity ELSS for investors who can accept uneven short-term outcomes in exchange for longer-term growth potential.
Published on 16 September 2026 at 1:08 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.