DSP ELSS Tax Saver Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

DSP ELSS Tax Saver Fund Direct Growth Plan had a NAV of ₹156.538 as of 27 August 2026 and managed ₹16,737 Cr in scheme assets. Its 1-year, 3-year and 5-year returns are 3.74%, 15.23% and 13.57%, respectively, and the fund sits in the High Risk bucket.

Our view is that this is a portfolio for investors who can tolerate equity volatility and stay invested for the long term. The return pattern is stronger over 3 years and 5 years than over 1 year, while the large-cap tilt and heavy banking exposure make the ride more dependent on a few dominant holdings.

Quick facts

Particular	Details
NAV	₹156.538
AUM	₹16,737 Cr
Expense Ratio	0.64%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity – ELSS – Growth
Exit Load	No exit load after holding period
Fund Managers	Rohit Singhania

The fund is managed by Rohit Singhania.

Source data date: as of 27 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	1.03%	0.44%
3M	3.99%	2.31%
1Y	3.74%	-2.53%
3Y	15.23%	6.72%
5Y	13.57%	7.06%

The fund has been ahead of the Nifty 50 across every period shown, but the gap is much wider over 3 years and 5 years than over the latest month. That pattern suggests the fund has not relied on a single short burst of strength; instead, its longer-run compounding has stayed well above the benchmark even after periods of drawdown and recovery.

The recent 1-year trend is modest at 3.74%, which is much lower than its 3-year and 5-year pace. That tells us the recent cycle has been softer than the longer trend, even though the fund still held up better than the benchmark, which was negative over 1 year. For investors, that matters because the fund’s edge has been built more over time than in the latest phase.

The time pattern also points to a fund that can move through noticeable ups and downs before recovering. The 3-year and 5-year paths show a better long-term growth pattern than the 1-year path, which supports the idea that this fund is better judged over a full market cycle than over short holding windows.

In our view, the key takeaway is that the fund has stayed consistently ahead of the benchmark while still showing the kind of volatility expected from an equity ELSS scheme. That combination makes the long-term track record more relevant than any single short-term stretch.

Source data date: as of 27 Aug 2026

Should you BUY or HOLD DSP 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
DSP ELSS Tax Saver Fund Direct Growth Plan	3.743%	15.2324%	13.5744%
Quant ELSS Tax Saver Fund Direct Growth Plan	17.3211%	17.2962%	17.1744%
Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan	16.8779%	23.5648%	18.744%
JM ELSS-Tax Saver Fund Direct Growth Plan	11.5887%	18.0116%	15.9994%
Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan	11.1698%	13.9175%	17.4465%
Edelweiss ELSS Tax saver Fund Direct Growth Plan	10.7499%	15.7735%	13.8646%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the recent 1-year number, this fund trails every peer listed here, while the 3-year and 5-year figures sit closer to the middle of the pack than to the strongest peer readings. That makes the short-term picture clearly softer than the longer-term picture.

The longer horizon is still constructive, because the fund’s 3-year return remains above a few peers and its 5-year return is close to the lower end of the displayed peer range rather than detached from it. The comparison therefore tells two different stories: recent returns have been subdued, but the longer-term record remains credible against the peer set.

Source data date: as of 27 Aug 2026

Portfolio: where your money goes

The market-cap mix is 72.23% large cap, 16.78% mid cap, 8.25% small cap and 2.74% other exposure. That profile leans clearly toward large companies, which usually makes the fund more sensitive to broad market leaders and less dependent on very small positions.

Sector	Weight	Top holdings
BANK	41.3%	KOTAK MAHINDRA BANK LIMITED (16.69%), HDFC BANK LIMITED (5.57%)
FINANCE	6.86%	MAX FINANCIAL SERVICES LIMITED (1.28%), SHRIRAM FINANCE LIMITED (1.16%)
HEALTHCARE	6.06%	CIPLA LIMITED (1.2%), IPCA LABORATORIES LIMITED (1.14%)
IT	6.04%	INFOSYS LIMITED (2.98%), TATA CONSULTANCY SERVICES LIMITED (1.47%)
AUTOMOBILE & ANCILLARIES	5.8%	MAHINDRA & MAHINDRA LIMITED (1.93%), SAMVARDHANA MOTHERSON INTERNATIONAL LIMITED (1.6%)

The banking sector is materially larger than every other sector in the portfolio. At 41.3%, it is far above the second-largest sector at 6.86%, so banking is likely to have the greatest influence on the fund’s day-to-day behaviour.

That concentration does not erase diversification, because the remaining allocation is spread across finance, healthcare, IT and automobile-related holdings, along with a strong large-cap base. Still, the portfolio is not evenly balanced across sectors, so moves in bank stocks may matter more than moves in any other single group.

The mix of 72.23% large cap with smaller mid-cap and small-cap sleeves suggests a core-oriented equity approach with some added growth potential. In our view, that blend may help the fund participate in broad market strength while keeping the smaller-cap exposure contained.

Source data date: as of 27 Aug 2026

Who should invest

This fund suits investors who are comfortable with High Risk equity exposure and who can hold for several years rather than judge it on a single year. The 3-year and 5-year records are much better than the 1-year outcome, so the fund fits investors who can wait for the longer compounding pattern to matter.

The benchmark comparison is positive across the periods shown, but the recent phase has been softer than the longer run. That means the main trade-off is accepting short-term swings and uneven stretches in exchange for a portfolio that has historically stayed ahead of the benchmark over longer windows.

The large-cap tilt and banking concentration add another layer of sensitivity, so this is better suited to investors who are comfortable with a portfolio that can lean heavily on a few sectors while still aiming for long-run equity growth.

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 27 Aug 2026

Frequently asked questions

What is the current NAV of DSP ELSS Tax Saver Fund Direct Growth Plan?
Its NAV is ₹156.538 as of 27 August 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 3.74%, the 3-year return is 15.23% and the 5-year return is 13.57%.

How does the fund compare with the Nifty 50?
It has stayed ahead of the Nifty 50 in each period shown. The margin is especially wide over 3 years and 5 years.

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

Who manages the fund?
The fund is managed by Rohit Singhania.

What is the tax and exit-load treatment?
Units held for less than 1 year attract short-term capital gains tax of 20%, while units held for more than 1 year attract long-term capital gains tax of 12.5%. There is no exit load after the holding period.

Bottom line

This fund’s recent 1-year result is much softer than its 3-year and 5-year record, so the long-term picture is stronger than the near-term one. It has also stayed ahead of the benchmark across the periods shown, which supports the case for patience rather than short-horizon judgement. The fund carries High Risk and leans heavily into large-cap banking, so its behaviour may be shaped more by a few core holdings than by broad sector balance.

Published on 28 August 2026 at 10:56 AM 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.