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

Invesco India ELSS Tax Saver Fund Direct Growth Plan has a NAV of ₹152.55 as of 09 Sep 2026 and an AUM of ₹2,698 Cr. Its 1-year, 3-year and 5-year returns are 1.63%, 12.79% and 10.60%, and the scheme is tagged High Risk. Our view is that this is a fund for investors who can stay invested through uneven stretches, because the longer run is better than the recent run and the portfolio is built around a sizeable but not extreme set of active bets.

The fund’s recent return profile has been softer than its 3-year and 5-year track record, while the benchmark has also been weak over the shorter periods. That makes the current picture mixed rather than compelling, but the underlying portfolio still suggests a diversified equity ELSS structure rather than a narrow thematic wager.

Quick facts

Particular	Details
NAV	₹152.55 as of 09 Sep 2026
AUM	₹2,698 Cr
Expense Ratio	0.78%
Launch Date	01 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	Depesh Kashyap

The fund is managed by Depesh Kashyap.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.09%	-4.69%
3M	10.65%	0.93%
1Y	1.63%	-7.16%
3Y	12.79%	6%
5Y	10.60%	5.87%

The fund’s short-term pattern has been uneven. Over the last month, it was roughly flat, while the benchmark fell more sharply. Over three months, the fund recovered strongly and comfortably outpaced the benchmark, which helps explain why the recent picture is better than the 1-year number suggests.

The 1-year return is still modest at 1.63%, and that is the main reason the near-term record looks softer than the longer-term record. We see a fund that has had some periods of pressure, but not a collapse in its overall trajectory. The return path suggests the portfolio has been able to rebuild after drawdowns rather than drift lower for long stretches.

On a longer horizon, the 3-year return of 12.79% is ahead of the benchmark’s 6%, and the 5-year return of 10.60% also stands above the benchmark’s 5.87%. Our view is that the fund’s longer-run profile is more useful than its 1-year number, because the multi-year figures show steadier compounding than the short-term numbers alone would imply.

That said, the return pattern is not one of smooth consistency. The time pattern points to a fund that can move through clear ups and downs before recovering. For investors, that means the fund may fit only if they can hold through periods when the 1-year picture looks weaker than the 3-year and 5-year backdrop.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD Invesco 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Invesco India ELSS Tax Saver Fund Direct Growth Plan	1.63%	12.79%	10.60%
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.

Against the listed peers, the fund’s 1-year return is clearly softer, with several peers showing much stronger recent numbers. That gap matters because the fund’s latest year is the weakest part of its profile.

The longer-term comparison is more balanced. Its 3-year return is below the strongest peer figures but remains ahead of some peers, while its 5-year return also sits in the middle of the pack rather than at the extremes. In our view, the peer set tells two different stories: the recent year has lagged, but the longer horizon is more respectable and closer to the broader peer cluster.

This makes the fund more of a patient, multi-year ELSS holding than a short-term momentum play. The combination of a weaker 1-year number and a steadier 3-year and 5-year profile suggests that investors should judge it by cycle-through-cycle behavior, not only by the latest year.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Limited	Bank	4.66%
ICICI Bank Limited	Bank	3.91%
Bajaj Finance Ltd	Finance	2.41%
Bharti Airtel Limited	Telecom	2.33%
Jyoti CNC Automation Ltd	Capital Goods	2.27%
Axis Bank Limited	Bank	2.23%
Eternal Limited	Retailing	2.07%
Coforge Limited	IT	2.04%
Interglobe Aviation Limited	Aviation	2.02%
Metro Brands Limited	Retailing	1.95%

The top 10 holdings account for approximately 25.89% of the portfolio.

To see all holdings, visit the Invesco India ELSS Tax Saver Fund Direct Growth Plan page

The largest holding, HDFC Bank Limited, is 4.66% of the portfolio, so no single position dominates the disclosed basket. The gap from the first holding to the tenth holding is moderate rather than extreme, which suggests the visible book is built from several mid-sized positions instead of one very large anchor.

The top holdings are spread across banking, finance, telecom, capital goods, IT, aviation and retailing. That mix may help reduce reliance on any one sector, although the bank names still carry meaningful influence because there are multiple bank holdings among the largest positions.

With 69 disclosed holdings and only 25.89% in the top 10, the portfolio appears fairly spread out across a longer tail. In our view, that structure may soften single-stock dependence, even though the largest names are still likely to have greater influence than the smaller positions.

Source data date: as of 09 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk equity swings and are comfortable with a lumpy journey rather than a straight line. The 1-year return is much weaker than the 3-year and 5-year figures, so the fund is better matched to a multi-year horizon where recoveries matter more than short stretches of underperformance.

It also makes sense for investors who want an ELSS structure with broad equity exposure and a diversified portfolio of 69 holdings. The key trade-off is that the recent year has been subdued even though the longer track record is better, so patience is essential if you are relying on it for tax-linked long-term investing.

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 09 Sep 2026

Frequently asked questions

What is the current NAV of Invesco India ELSS Tax Saver Fund Direct Growth Plan?

The current NAV is ₹152.55 as of 09 Sep 2026.

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

The 1-year return is 1.63%, the 3-year return is 12.79%, and the 5-year return is 10.60%.

How does the fund compare with Nifty 50?

The fund is ahead of Nifty 50 on the 3-year and 5-year figures, while the benchmark has been weaker over the recent 1-year period.

How does it compare with peer ELSS funds on recent returns?

Its 1-year return is lower than several peer funds, while its 3-year and 5-year numbers are more mixed and sit closer to the middle of the peer set.

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 Depesh Kashyap. The exit load is described as no exit load after the holding period.

Bottom line

Invesco India ELSS Tax Saver Fund Direct Growth Plan looks stronger over 3-year and 5-year horizons than it does over the last year, so the recent run is clearly softer than the longer-term record. Against the benchmark, the longer-term figures are ahead, while the current peer set shows that the latest year has lagged several rivals. The portfolio is diversified across 69 holdings, and the top 10 make up 25.89%, which points to a broadly spread equity book rather than a narrow one. That profile suits investors who can stay patient through uneven periods.

Published on 10 September 2026 at 11:43 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.