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

Edelweiss ELSS Tax saver Fund Direct Growth Plan had a NAV of ₹138.38 as of 09 Sep 2026 and an AUM of ₹455 Cr. Its 1-year, 3-year and 5-year returns are 7.16%, 13.53% and 12.23%, and it sits in the High Risk bucket. Our view is that this is a fund for investors who can tolerate equity swings and want an ELSS structure with a long enough horizon to absorb volatility, but the recent return pattern is more mixed than the 3-year and 5-year record.

The combination of a 3-year lock-in, a concentrated top-holding list and a benchmark-beating longer-term record suggests it is more suited to patient investors than to anyone seeking a smooth short-term path. The fund has also stayed behind the Nifty 50 over 1 year, which makes recent behaviour important to watch.

Quick facts

Particular	Details
NAV	₹138.38 as of 09 Sep 2026
AUM	₹455 Cr
Expense Ratio	0.69%
Launch Date	21 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	No exit load after holding period
Fund Managers	Ashwani Agarwalla, Trideep Bhattacharya, Raj Koradia

The fund is managed by Ashwani Agarwalla, Trideep Bhattacharya and Raj Koradia.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.81%	-4.69%
3M	6.29%	0.93%
1Y	7.16%	-7.16%
3Y	13.53%	6.00%
5Y	12.23%	5.87%

The short-term pattern has been uneven, but not weak in a straight line. Over 1 month, the fund fell, yet it still held up better than the benchmark. Over 3 months, it recovered more cleanly than the Nifty 50, which tells us the fund has been able to participate in rebounds even when the market has been choppy.

The bigger picture is stronger. The 1-year return is positive while the benchmark is negative, and that gap matters because it shows the fund has handled the last year better than the market index. The 3-year and 5-year numbers are both ahead of the benchmark too, which supports a longer-term case for the strategy even if the last few weeks were softer.

The time pattern also suggests that the journey has not been smooth. There have been phases of drawdown and recovery rather than a steady climb, which is consistent with an equity ELSS fund. For investors, that means the fund has rewarded patience over multi-year periods more than it has offered consistency from month to month.

What stands out is the contrast between the near-term dip and the multi-year record. Our view is that this is the kind of fund where the trailing 1-year trend should not be read in isolation, because the 3-year and 5-year records still point to a stronger compounding profile than the benchmark.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD Edelweiss 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
Edelweiss ELSS Tax saver Fund Direct Growth Plan	7.16%	13.53%	12.23%
Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan	15.62%	22.46%	17.66%
Quant ELSS Tax Saver Fund Direct Growth Plan	15.48%	14.66%	15.71%
JM ELSS-Tax Saver Fund Direct Growth Plan	9.59%	16.11%	14.70%
Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan	8.53%	11.50%	15.93%
ITI ELSS Tax Saver Fund Direct Growth Plan	7.64%	17.03%	13.34%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund’s 1-year return trails the stronger peer readings in this set, especially the 15%-plus figures at the top end. Over 3 years and 5 years, it also sits below the best peer outcomes, even though it still shows a solid multi-year record in absolute terms.

That mix creates two different stories. The near-term record is more subdued than the strongest peer numbers, but the multi-year record is still respectable and better than the benchmark. For investors, that means the fund looks less compelling on recent momentum than some peers, yet its longer-run return path remains usable for an ELSS allocation.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	4.94%
Reliance Industries Ltd.	Crude Oil	4.45%
HDFC Bank Ltd.	Bank	4.11%
Bharti Airtel Ltd.	Telecom	3.64%
Larsen & Toubro Ltd.	Infrastructure	2.89%
State Bank of India	Bank	2.51%
Ather Energy Ltd.	Domestic Equities	2.23%
BSE Ltd.	Finance	2.15%
Bharat Electronics Ltd.	Capital Goods	1.87%
Gabriel India Ltd.	Automobile & Ancillaries	1.87%

The largest holding, ICICI Bank Ltd., is 4.94%, which is sizeable but not dominating on its own. The fall from the first holding to the tenth is gradual rather than abrupt, with the tenth position still at 1.87%, so the visible part of the portfolio does not look like a one-stock story.

Even so, the top ten holdings together account for about 30.66% of the portfolio, which means a meaningful part of the fund is spread across a longer tail of 73 disclosed holdings. That shape may reduce dependence on any single name, while the leading positions are still likely to have greater influence on returns than the smaller holdings.

The visible holding mix also shows a blend of banks, infrastructure, telecom, finance, capital goods and select domestic names. That spread may help balance company-specific risk, but the fund still remains an equity ELSS portfolio where stock selection can matter materially.

To see all holdings, visit the Edelweiss ELSS Tax saver Fund Direct Growth Plan page

Source data date: as of 09 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk exposure and can stay invested long enough to move through equity cycles. The 3-year lock-in means it suits a medium- to long-term tax-saving horizon rather than a short-term cash need.

The main trade-off is clear: the fund has a stronger multi-year record than its own benchmark, but the recent 1-year stretch is less compelling than the best peer outcomes. Investors who can tolerate swings and still value the longer-run return pattern may find that acceptable, while those who want steadier near-term momentum may not.

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

No exit load after holding period.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of Edelweiss ELSS Tax saver Fund Direct Growth Plan?

The current NAV is ₹138.38 as of 09 Sep 2026.

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

The 1-year return is 7.16%, the 3-year return is 13.53% and the 5-year return is 12.23%.

How does the fund compare with the Nifty 50?

It has outpaced the Nifty 50 over 1 year, 3 years and 5 years. The 1-month and 3-month periods also show the fund holding up better than the benchmark.

How does it compare with the peer funds listed here?

Its recent and longer-term returns are below the strongest peer figures shown here, especially on the 1-year and 3-year measures. Even so, it still has a usable multi-year return record for an ELSS fund.

What is the minimum SIP?

The minimum SIP is ₹500.

Who manages the fund and what is the exit load?

The fund is managed by Ashwani Agarwalla, Trideep Bhattacharya and Raj Koradia. There is no exit load after the holding period.

Bottom line

Edelweiss ELSS Tax saver Fund Direct Growth Plan shows a mixed near-term picture but a stronger longer-term one. Its 1-year return is softer than the best peer readings, yet its 3-year and 5-year performance remains ahead of the benchmark and still constructive for a tax-saving equity allocation. The portfolio is led by a modestly concentrated set of holdings, with the top ten spread across banks, telecom, infrastructure and other sectors, which may help avoid overreliance on one theme. It suits investors who can accept High Risk and stay invested through volatility.

Published on 10 September 2026 at 4:12 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.