PGIM India ELSS Tax Saver Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
PGIM India ELSS Tax Saver Fund Direct Growth Plan is at a NAV of ₹40.27 as of 10 September 2026, with scheme AUM of ₹722 Cr. Its 1-year, 3-year and 5-year returns are 1.03%, 9.01% and 10.48%, and the scheme is tagged High Risk.
Our view is that the fund has a longer-run return profile that is meaningfully steadier than its recent 1-year number, but it has also lagged the benchmark on the 1-year and 5-year horizons. The portfolio is led by large financials and other large-cap names, which may support diversification across established businesses, though the overall return pattern still calls for investors to be comfortable with equity volatility and a three-year lock-in.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹40.27 as of 10 Sep 2026 |
| AUM | ₹722 Cr |
| Expense Ratio | 0.71% |
| Launch Date | 11 Dec 2015 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | No exit load |
| Fund Managers | Sharma Vivek, Utsav Mehta, Vinay Paharia, Akhil Dhar |
The fund is managed by Sharma Vivek, Utsav Mehta, Vinay Paharia and Akhil Dhar.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.42% | -4.06% |
| 3M | 7.50% | 1.37% |
| 1Y | 1.03% | -7.31% |
| 3Y | 9.01% | 6.07% |
| 5Y | 10.48% | 5.91% |
The recent pattern is mixed. Over 1 month, the fund was slightly negative, but it still held up better than the benchmark. Over 3 months, the fund rebounded well and clearly outpaced the benchmark, which tells us the scheme can recover quickly when conditions improve.
The longer view is more moderate than the 3-month swing suggests. The 1-year return is only 1.03%, which is weak for an equity ELSS fund, even though it is better than the benchmark’s -7.31%. That gap matters because it shows relative resilience without strong absolute growth.
Over 3 years and 5 years, the fund has stayed ahead of the benchmark at 9.01% and 10.48% versus 6.07% and 5.91%. That means the scheme has done better than the index across the medium and longer horizons, but the edge is not large enough to describe the fund as a consistently powerful compounding story. Our reading is that the fund has been uneven in the near term and more dependable over longer periods.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD PGIM India 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 PGIM India ELSS Tax Saver? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| PGIM India ELSS Tax Saver Fund Direct Growth Plan | 1.03% | 9.01% | 10.48% |
| Quant ELSS Tax Saver Fund Direct Growth Plan | 14.4% | 14.49% | 15.61% |
| Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan | 13.44% | 22.35% | 17.6% |
| JM ELSS-Tax Saver Fund Direct Growth Plan | 8.95% | 16.04% | 14.66% |
| ITI ELSS Tax Saver Fund Direct Growth Plan | 7.31% | 17.13% | 13.4% |
| Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan | 7.26% | 11.36% | 15.84% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On recent returns, the fund trails the stronger peer numbers by a wide margin: its 1-year return is far below the better-performing peer set, while several peers also show stronger 3-year and 5-year outcomes. That said, the comparison is less one-sided over longer stretches, because the fund’s 3-year and 5-year figures remain above the benchmark and keep it in the same broad return conversation as the category.
What stands out is the difference between the short-term and longer-term picture. In the near term, the scheme has been much less compelling than the better peer results, but its longer-term record is more stable and not as weak as the 1-year figure might suggest. That split makes the fund look more like a steady, middle-of-the-pack long-horizon option than a recent momentum leader.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Ltd. | Bank | 7.24% |
| HDFC Bank Ltd. | Bank | 6.61% |
| Bharti Airtel Ltd. | Telecom | 3.73% |
| Reliance Industries Ltd. | Crude Oil | 3.34% |
| Infosys Ltd. | IT | 3.16% |
| Bajaj Finance Ltd. | Finance | 3.06% |
| State Bank of India | Bank | 2.65% |
| Clearing Corporation of India Ltd. | Cash & Cash Equivalents and Net Assets | 2.47% |
| Kotak Mahindra Bank Ltd. | Bank | 2.44% |
| Larsen & Toubro Ltd. | Infrastructure | 2.42% |
The largest holding, ICICI Bank Ltd., is 7.24%, which is large enough to matter but not so large that it dominates the scheme on its own. The next few positions are also meaningful, and the drop from the first to the tenth holding is gradual rather than abrupt, which suggests the portfolio is not built around a single very large bet.
The top 10 holdings account for approximately 37.12% of the portfolio, leaving a long tail across the remaining disclosed positions. With 73 holdings disclosed in total, the scheme appears fairly spread out, even though the top end is still anchored by a cluster of banks and other large listed names. In our view, that mix may help reduce reliance on any one company, while still allowing the biggest holdings to influence results.
Because the disclosed holdings extend well beyond the top 10, the fund may be using its wider book to balance the portfolio around those larger positions. That combination points to moderate concentration at the top and broader diversification underneath, rather than an extremely narrow portfolio.
To see all holdings, visit the PGIM India ELSS Tax Saver Fund Direct Growth Plan page
Source data date: as of 10 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk equity exposure and who can stay invested through the ELSS lock-in and beyond it. The 1-year return has been weak, but the 3-year and 5-year numbers are more respectable and both sit above the benchmark, so the scheme looks more suitable for patient investors than for anyone looking for steady short-term outcomes.
The main trade-off is that the portfolio is built around established large-cap names, which may help stability, but the return pattern still moves around enough to require tolerance for uneven phases. Investors who want tax-saving equity exposure and can accept a modest, not standout, longer-term return profile may find the fund more relevant than those seeking recent momentum.
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 10 Sep 2026
Frequently asked questions
What is the current NAV of PGIM India ELSS Tax Saver Fund Direct Growth Plan?
The current NAV is ₹40.27 as of 10 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 1.03%, 9.01% and 10.48%.
How does the fund compare with its benchmark?
It is ahead of the Nifty 50 over 3 years and 5 years, and it also held up better over 1 year. The benchmark figures were -7.31% for 1 year, 6.07% for 3 years and 5.91% for 5 years.
How does it compare with peer ELSS funds on return data?
Several peer funds show stronger 1-year, 3-year and 5-year returns than this scheme. The fund is still ahead of the benchmark over the longer horizons, but the peer comparison shows a weaker recent return profile.
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 Sharma Vivek, Utsav Mehta, Vinay Paharia and Akhil Dhar. There is no exit load.
Bottom line
PGIM India ELSS Tax Saver Fund Direct Growth Plan has a mixed near-term record but a better longer-term shape, with 3-year and 5-year returns above the benchmark even as the 1-year figure remains subdued. Against peer ELSS funds, the recent return profile looks weaker, while the longer-term picture is more balanced. The High Risk tag still matters, but the portfolio’s top holdings are spread across several large companies rather than being dominated by one position. That makes it more suitable for tax-saving investors with patience for uneven performance.
Published on 11 September 2026 at 5:47 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.