360 ONE ELSS Tax Saver Nifty 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

360 ONE ELSS Tax Saver Nifty 50 Index Fund Direct Growth Plan currently has a NAV of ₹13.7534 as of 28 August 2026 and an AUM of ₹69 Cr. Its 1-year, 3-year and 5-year returns are -0.44%, 8.70% and Data not available, respectively, and it sits in the High Risk category.

Our view is that this is a straightforward index-style ELSS with heavy large-cap exposure and a portfolio that closely tracks Nifty 50 behaviour. The return record is mixed in the shorter term, but the 3-year number is positive and the structure may suit investors who want tax-saving equity exposure with a large-cap tilt and can live with equity-market swings.

Quick facts

Particular	Details
NAV	₹13.7534
AUM	₹69 Cr
Expense Ratio	0.27%
Launch Date	28 Dec 2022
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity / ELSS / Growth
Exit Load	No exit load
Fund Managers	Viral Mehta, Pranav Mise

The fund is managed by Viral Mehta and Pranav Mise.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	-0.77%	-0.85%
3M	3.91%	3.39%
1Y	-0.44%	-2.29%
3Y	8.70%	6.40%
5Y	Data not available	Data not available

Recent performance has been uneven, but the fund has held up a little better than the benchmark across the visible 1-month, 3-month, 1-year and 3-year periods. The 1-month return is slightly less negative than Nifty 50, while the 3-month reading is a touch stronger, which suggests that the fund has been broadly tracking market moves rather than diverging sharply from them.

The 1-year return remains negative, so the recent picture is not strong in absolute terms. Even so, the benchmark was weaker over the same period, which means the fund protected capital better than the index during a difficult stretch. That relative edge matters more here than the headline number alone, because this is an ELSS strategy built around market participation rather than downside insulation.

Over 3 years, the fund’s positive return is ahead of the benchmark and shows better compounding than the index. The available time pattern also points to periods of weakness followed by recovery, which is consistent with a large-cap equity fund that moves with the market cycle. We do not see a dramatic change in style between the short and medium term; the fund has remained fairly close to benchmark behaviour while still keeping a small performance advantage.

The 5-year figure is not available because the fund has not been in existence long enough to build a full five-year track record. For a newer ELSS fund, that limits the depth of long-horizon judgement, so our reading relies more on the 1-year and 3-year evidence together with portfolio structure.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD 360 ONE 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
360 ONE ELSS Tax Saver Nifty 50 Index Fund Direct Growth Plan	-0.44%	8.70%	Data not available
Quant ELSS Tax Saver Fund Direct Growth Plan	18.879%	17.2952%	17.0946%
Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan	18.642%	23.697%	18.7718%
JM ELSS-Tax Saver Fund Direct Growth Plan	12.8993%	17.9915%	16.0443%
Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan	12.0621%	13.657%	17.3385%
Edelweiss ELSS Tax saver Fund Direct Growth Plan	12.0315%	15.6945%	13.7405%

Compared with the peer set, the fund’s recent 1-year return is far softer than the stronger peer figures, while its 3-year return is also lower than the better-performing alternatives shown here. That tells us the fund has not matched the more aggressive ELSS peers on raw return delivery, even though it has still stayed positive over 3 years and has beaten its benchmark over the same period.

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

What stands out is the split between the short term and the medium term. Some peers have delivered materially stronger gains across both horizons, while this fund has been steadier and closer to benchmark behaviour. For investors who care mainly about return momentum, the comparison is not especially flattering. For investors who value an index-linked ELSS with a simpler large-cap profile, the table tells a more balanced story.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The market-cap mix is heavily tilted to large caps at 99.39%, with mid-cap exposure at 0%, small-cap exposure at 0% and other exposure at 0.61%.

Sector	Weight	Top holdings
BANK	35.28%	KOTAK MAHINDRA BANK LIMITED (10.97%), HDFC BANK LIMITED (10.41%)
CRUDE OIL	8.39%	RELIANCE INDUSTRIES LIMITED (7.58%), OIL & NATURAL GAS CORPORATION LIMITED (0.81%)
IT	8.31%	INFOSYS LIMITED (3.73%), TATA CONSULTANCY SERVICES LIMITED (2.15%)
AUTOMOBILE & ANCILLARIES	6.11%	MAHINDRA & MAHINDRA LIMITED (2.36%), MARUTI SUZUKI INDIA LIMITED (1.51%)
FMCG	4.9%	ITC LIMITED (2.53%), HINDUSTAN UNILEVER LIMITED (1.6%)

The portfolio is very clearly built around large-cap stocks, so it should behave more like a concentrated large-cap ELSS than a broad market-cap mix. With no mid-cap or small-cap allocation, the fund is unlikely to get much of its movement from the more volatile parts of the market.

Banking is the most influential sector by a wide margin at 35.28%, and that makes the portfolio’s behaviour likely to be shaped first by bank stocks. Crude oil and IT are much smaller at a little above 8% each, so they matter, but they do not carry the same weight in day-to-day fund movement as the banking bucket.

Because the top sector is materially larger than the next two, the portfolio may be more sensitive to bank-led market trends than a more evenly spread ELSS. At the stock level, Kotak Mahindra Bank and HDFC Bank are the two biggest individual holdings, so financials may continue to have the greatest influence on overall performance, even though the fund still has exposure to Reliance, Infosys, TCS and other large names.

Source data date: as of 28 Aug 2026

Who should invest

This fund is better suited to investors who are comfortable with equity-market volatility and can hold through uneven short-term returns. The High Risk label fits the fact that the fund participates fully in equity movements, even though its portfolio is dominated by large caps.

It may appeal to investors with a medium-to-long investment horizon who want an ELSS tax-saving option tied closely to Nifty 50 behaviour. The main trade-off is that the portfolio may offer a steadier large-cap profile, but that also means it has less room to chase the stronger upside seen in some more active peers.

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 28 Aug 2026

Frequently asked questions

What is the current NAV of 360 ONE ELSS Tax Saver Nifty 50 Index Fund Direct Growth Plan?
The current NAV is ₹13.7534 as of 28 August 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is -0.44%, the 3-year return is 8.70%, and the 5-year return is Data not available.

How does the fund compare with Nifty 50?
It has done a little better than Nifty 50 over 1 month, 3 months, 1 year and 3 years. The fund’s 3-year return of 8.70% is ahead of the benchmark’s 6.40%.

How does it compare with the peer funds listed here?
Its recent and medium-term returns are weaker than several of the peer funds shown, especially on the 1-year measure. Even so, it has still stayed ahead of the benchmark over the available periods.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

Who manages this fund and what is the portfolio tilt?
The fund is managed by Viral Mehta and Pranav Mise. Its portfolio is dominated by large caps, with 99.39% in large-cap stocks and 35.28% in banks.

Bottom line

This ELSS has a mixed short-term record, but its 3-year return is positive and ahead of the benchmark, which suggests it has held its own through a choppy period. Against peers, the recent return profile is softer, so it does not stand out on raw momentum. The portfolio is almost entirely large-cap and heavily bank-led, which should make it more tied to Nifty 50-style movement than to smaller-cap swings. That combination may suit investors who want tax-saving equity exposure with a large-cap core and can accept that the upside may lag stronger, more aggressive peers.

Published on 31 August 2026 at 2:14 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.