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 is at a NAV of ₹13.2419 as of 17 September 2026, with AUM of ₹68 Cr. Its 1-year, 3-year and 5-year returns are -7.14%, 5.7% and 0%, and it sits in the High Risk bucket. Our view is that this is a fund for investors who want a Nifty 50-linked ELSS structure and can tolerate a rough recent stretch, even though the 3-year record is modest and the 5-year figure is flat.

The blend of a low expense ratio, index-style benchmark exposure and a concentrated set of large holdings makes it easier to understand, but not low risk. It may suit long-horizon tax savers who can live with year-to-year swings and want the portfolio to stay close to large-cap market leadership.

Quick facts

Particular	Details
NAV	₹13.2419 as of 17 Sep 2026
AUM	₹68 Cr
Expense Ratio	0.27%
Launch Date	28 Dec 2022
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
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 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.65%	-3.66%
3M	-3.25%	-3.71%
1Y	-7.14%	-7.13%
3Y	5.7%	5.82%
5Y	Data not available	Data not available

The recent picture is weak, but it is not meaningfully different from the benchmark over the same windows. Over 1 month and 3 months, the fund and Nifty 50 both show negative returns, with the fund slightly less weak over 3 months and essentially matched over 1 month. That tells us the short-term move has been driven more by broad market conditions than by scheme-specific deviation.

The 1-year return is still negative, and it is almost identical to the benchmark. That matters because it suggests the fund has tracked the large-cap market closely, which is what investors would expect from a Nifty 50 index ELSS. The 3-year figure is positive but modest, and again very close to the benchmark, so there is no sign of material outperformance or underperformance over a fuller cycle.

The time pattern also points to uneven progress rather than a smooth climb. There have been periods of recovery, but they have been followed by fresh pullbacks, which is consistent with a fund that is carrying equity-market volatility without a strong active return cushion. In practical terms, the fund has behaved like a benchmark follower rather than a return enhancer.

Because the fund began in late 2022, there is no full 5-year live history here. The visible pattern still suggests that investors should judge it primarily on how closely they want Nifty 50 exposure inside an ELSS wrapper, not on the expectation of a distinct performance edge.

Source data date: as of 17 Sep 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.

Already holding 360 ONE ELSS Tax Saver Nifty 50 Index? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
360 ONE ELSS Tax Saver Nifty 50 Index Fund Direct Growth Plan	-7.14%	5.7%	Data not available
Quant ELSS Tax Saver Fund Direct Growth Plan	9.73%	13.52%	14.64%
Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan	7.28%	20.68%	16.54%
JM ELSS-Tax Saver Fund Direct Growth Plan	5.37%	15.37%	13.83%
Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan	4.16%	11.33%	14.96%
Edelweiss ELSS Tax saver Fund Direct Growth Plan	3.22%	12.41%	11.42%

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

Against the peer set, the fund’s recent 1-year return is clearly weaker than the available comparables, while its 3-year return is also below the stronger peer figures shown here. The gap is especially visible versus the funds that have delivered double-digit 1-year gains and materially stronger 3-year compounding.

The shorter-term story and the longer-term story both point in the same direction: the fund has not matched the return profiles seen in the peer table on the periods where comparison is available. The one nuance is that its 3-year result is still positive, so it has not been a persistent loser; it has simply lagged the stronger outcomes in this group.

That makes the comparison useful for setting expectations. If an investor wants the simplicity of a Nifty 50 index ELSS, this fund offers that style, but the trade-off is that recent returns have not been competitive with several peer ELSS options.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Limited	Bank	9.83%
ICICI Bank Limited	Bank	9.42%
Reliance Industries Limited	Crude Oil	7.82%
Bharti Airtel Limited	Telecom	4.92%
Larsen & Toubro Limited	Infrastructure	4.3%
State Bank of India	Bank	3.98%
Infosys Limited	IT	3.6%
Axis Bank Limited	Bank	3.38%
Kotak Mahindra Bank Limited	Bank	2.8%
Mahindra & Mahindra Limited	Automobile & Ancillaries	2.66%

The top 10 holdings account for approximately 52.71% of the portfolio.

To see all holdings, visit the 360 ONE ELSS Tax Saver Nifty 50 Index Fund Direct Growth Plan page

The largest position, HDFC Bank Limited, carries a weight of 9.83%, so it can have a noticeable influence on the fund’s day-to-day movement. The second and third holdings are also sizable, which means the portfolio is anchored by a small set of large-cap leaders rather than by one dominant position alone.

The fall from the first holding to the tenth is not abrupt, but it is meaningful: the first five names already account for a large share of the disclosed basket, and the tenth holding is down to 2.66%. That suggests influence is spread across several major stocks, yet the very top names still matter most.

With 49 total holdings disclosed and the top 10 making up about 52.71% of the portfolio, the remaining positions form a longer tail. Our view is that this structure may keep the fund broadly diversified within its large-cap universe, while still leaving a noticeable concentration in the leading positions.

Source data date: as of 17 Sep 2026

Who should invest

This fund is better aligned with investors who can handle High Risk exposure and are comfortable seeing short-term weakness if the long-term goal is tax-linked equity investing. The recent 1-year loss and the modest 3-year gain suggest that patience matters here, especially because the fund has not shown a strong edge over the benchmark.

It may suit a longer investment horizon, where the ELSS lock-in period is only part of the holding decision and the investor is willing to stay through market swings. The main trade-off is clear: you get a simple Nifty 50-oriented ELSS structure, but you also accept that returns can track the market closely rather than stand out above it.

For investors who prefer large-cap exposure, want a familiar benchmark profile and can tolerate volatility, the fund fits the brief more than for those seeking stronger recent alpha. The portfolio also leans on major banking and market-leader names, which reinforces the large-cap style.

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 if units are sold anytime.

Source data date: as of 17 Sep 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 ₹13.2419 as of 17 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s 1-year return is -7.14%, the 3-year return is 5.7%, and the 5-year return is 0% in the available record.

How does the fund compare with the benchmark?

It has tracked the Nifty 50 closely over the periods shown, with 1-year and 3-year results staying near the benchmark’s figures. That points to index-like behaviour rather than a strong active performance difference.

How does the fund compare with peer ELSS funds on returns?

Its 1-year and 3-year returns are weaker than several peer funds listed here. The comparison suggests that other ELSS options in the set have delivered stronger recent and medium-term performance.

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 Viral Mehta and Pranav Mise. There is no exit load if units are sold anytime.

Bottom line

This fund’s recent performance is weaker than its longer-term 3-year result, but the overall pattern still looks benchmark-like rather than distinctively strong. Compared with the peer funds shown here, the available return figures are softer across both recent and medium-term periods. The portfolio is led by large banking and other large-cap names, which supports a straightforward market-linked style. That makes the fund most relevant for investors who want ELSS exposure tied closely to the Nifty 50 and are comfortable with High Risk fluctuations.

Published on 18 September 2026 at 9:40 AM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.