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

Quantum ELSS Tax Saver Fund Direct Growth Plan is at ₹124.65 as of 03 Sep 2026, with AUM of ₹213 Cr. Its 1-year, 3-year and 5-year returns are -4.32%, 10.81% and 10.11%. The scheme sits in High Risk, so our view is that it suits investors who can tolerate sharp short-term swings and are looking for a tax-saving equity fund with a long enough horizon to absorb volatility.

The recent 1-year decline is weaker than its 3-year and 5-year track record, while the longer-term numbers still look better than the benchmark across those periods. The portfolio also carries a meaningful cash component among its largest holdings, which can soften and also dilute equity exposure at the margin. For investors who want ELSS discipline and can stay invested through uneven periods, the fund presents a cautious equity case rather than a smooth one.

Quick facts

Particular	Details
NAV	₹124.65 as of 03 Sep 2026
AUM	₹213 Cr
Expense Ratio	0.89%
Launch Date	23 Dec 2008
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	No exit load after holding period
Fund Managers	George Thomas, Christy Mathai, Ketan Gujarathi

The fund is managed by George Thomas, Christy Mathai and Ketan Gujarathi.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.84%	-3.01%
3M	1.78%	1.95%
1Y	-4.32%	-4.4%
3Y	10.81%	5.74%
5Y	10.11%	6.27%

The recent pattern is uneven. Over 1 month and 3 months, the fund moved in line with the benchmark, with only a small difference in favour of the fund on the downside over 1 month and a slight lag over 3 months. That tells us the short-term direction has been similar to the market rather than distinctly defensive or distinctly aggressive.

The 1-year return was negative, but it was almost flat versus the benchmark’s own negative reading. In practical terms, the fund has not escaped the weak one-year backdrop, yet it has also not lagged the benchmark by much in that window.

The longer picture is stronger. The 3-year and 5-year returns stay ahead of the benchmark, which suggests that the fund has converted multi-year holding periods into better compounding than the index. That gap between the one-year outcome and the longer-horizon trend points to a choppier path, not a broken one.

For investors, the main message is that the fund’s return profile has been more convincing over multi-year stretches than over the last year. The time spent in drawdown and recovery appears meaningful, so patience matters if the fund is held as an ELSS allocation rather than as a short-term equity idea.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD Quantum 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
Quantum ELSS Tax Saver Fund Direct Growth Plan	-4.32%	10.81%	10.11%
Quant ELSS Tax Saver Fund Direct Growth Plan	15.65%	15.72%	15.89%
Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan	13.9%	22.94%	17.44%
JM ELSS-Tax Saver Fund Direct Growth Plan	9.7%	17%	14.76%
ITI ELSS Tax Saver Fund Direct Growth Plan	9.49%	18.19%	13.9%
Edelweiss ELSS Tax saver Fund Direct Growth Plan	9.32%	14.94%	12.74%

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

The current fund’s 1-year return is far below the peer set shown here, while several peers have delivered strong positive short-term numbers. That makes the recent one-year picture look clearly weaker than the comparison group, even though the fund’s own benchmark reading is also negative.

At the longer end, the gap is narrower but still mixed. The fund’s 3-year result is below some peers, yet its 5-year return remains above a few of the displayed peers while trailing others. In our view, the short-term comparison highlights the weakness more sharply than the multi-year comparison, where the fund still shows usable long-term compounding despite a less impressive recent stretch.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS ^	Cash & Cash Equivalents and Net Assets	7.97%
HDFC Bank Ltd*	Bank	6.08%
ICICI Bank Ltd*	Bank	5.38%
Tata Consultancy Services Ltd*	IT	4.71%
Infosys Ltd*	IT	4.18%
Kotak Mahindra Bank Ltd*	Bank	4.05%
Exide Industries Ltd*	Automobile & Ancillaries	3.79%
Crompton Greaves Consumer Electricals Ltd*	Consumer Durables	3.43%
Container Corporation of India Ltd*	Logistics	3.34%
ICICI Prudential Life Insurance Company Ltd*	Insurance	3.23%

The top 10 holdings account for approximately 46.16% of the portfolio.

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

The largest disclosed position is TREPS at 7.97%, so the portfolio begins with a meaningful cash and cash-equivalent buffer rather than a single high-conviction equity bet. Among equities, the bank and IT names lead the list, with HDFC Bank, ICICI Bank, TCS, Infosys and Kotak Mahindra Bank together shaping much of the visible exposure.

Weight falls gradually rather than abruptly from the top holding to the tenth holding, moving from 7.97% to 3.23%. That pattern suggests the visible sleeve is not dominated by one position alone, although the largest names could still have greater influence on near-term behaviour than the smaller ones.

Because the top 10 holdings make up 46.16% of the portfolio and 31 holdings are disclosed in total, the fund appears to spread risk across a fairly long tail beyond the top names. That wider spread may help avoid overdependence on any single stock, while the cash allocation may also moderate how fully the portfolio participates in strong equity rallies.

Source data date: as of 03 Sep 2026

Who should invest

This fund fits investors who can accept High Risk and remain invested for several years. The 1-year result has been weak, but the 3-year and 5-year returns show a much better multi-year pattern than the benchmark, which makes patience important.

The main trade-off is between tax-saving equity exposure and the possibility of sharp interim declines. The portfolio’s visible cash holding and large bank-and-IT positions may help with balance, but they do not remove equity-market volatility. In our view, the fund is better suited to investors who want an ELSS allocation with a longer horizon and who can tolerate uneven year-to-year outcomes.

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.

Redemption note: The exit-load rule shown here is effectively nil once the holding condition is satisfied.

Source data date: as of 03 Sep 2026

Frequently asked questions

What is the current NAV of Quantum ELSS Tax Saver Fund Direct Growth Plan?
The current NAV is ₹124.65 as of 03 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are -4.32%, 10.81% and 10.11%.

How does the fund compare with Nifty 50?
It is slightly better than Nifty 50 over 1 month and 1 year, slightly behind over 3 months, and ahead over 3 years and 5 years. The longer-term gap is more favourable than the recent one-year result.

How does it compare with the peer funds shown here?
Its 1-year return is weaker than the displayed peers, while the 3-year and 5-year figures are more mixed. The longer-term story is better than the recent one-year picture, but several peers still show stronger multi-year numbers.

Is there a minimum SIP amount?
The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?
The fund is managed by George Thomas, Christy Mathai and Ketan Gujarathi. There is no exit load after the holding condition is satisfied.

Bottom line

Quantum ELSS Tax Saver Fund Direct Growth Plan has a weaker recent year than its longer-term record, but its 3-year and 5-year returns still show better compounding than the benchmark. In peer terms, the one-year figure lags clearly, while the multi-year comparison is more balanced. The portfolio starts with a cash buffer and then leans on banks and IT, so the fund may feel steadier than a pure high-beta equity sleeve, yet it still carries High Risk. It suits patient ELSS investors who can live with uneven periods.

Published on 4 September 2026 at 4:11 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.