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

Updated: 16 Sept 2026 • 9:37 am

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

Shriram ELSS Tax Saver Fund Direct Growth Plan has a NAV of ₹22.9029 as of 15 September 2026 and an AUM of ₹47 Cr. Its 1-year, 3-year and 5-year returns are -2.72%, 6.50% and 6.63%, and the scheme is tagged as High Risk. Our view is that this is a fund for investors who can tolerate volatility and are looking for an ELSS exposure with a longer holding period, rather than a smooth short-term return path.

The portfolio is bank-heavy at the top and the fund has 58 disclosed holdings, so the larger positions may matter more than the headline diversification suggests. The recent return trend has been weak, but the longer horizon is more stable, which makes the fund more relevant for patient tax-saving investors than for near-term return seekers.

Table of Contents

Quick facts

Particular	Details
NAV	₹22.9029 as of 15 Sep 2026
AUM	₹47 Cr
Expense Ratio	0.8%
Launch Date	25 Jan 2019
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	No exit load
Fund Managers	Prateek Nigudkar, Hitesh Savanth

The fund is managed by Prateek Nigudkar and Hitesh Savanth.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.74%	-4.81%
3M	-1.96%	-3.63%
1Y	-2.72%	-8.27%
3Y	6.50%	5.59%
5Y	6.63%	5.58%

The recent pattern has been choppy. Over the 1-month and 3-month windows, the fund stayed negative, but the declines were milder than the benchmark’s in both periods. That tells us the scheme has not escaped short-term pressure, yet it has handled the latest drawdown a little better than the Nifty 50.

The 1-year return is still negative, so the fund has not yet completed a full recovery over the medium term. Even so, it has lost less than the benchmark over the same period, which matters for investors tracking downside control as much as absolute returns.

The longer view is more constructive. The 3-year and 5-year returns are both positive and sit above the benchmark in each case. That suggests the fund has added value over longer holding periods, even though the recent path has been uneven. For an ELSS scheme, that pattern is important because the 3-year lock-in encourages investors to think beyond short bursts of volatility.

Overall, the fund’s recent weakness does not line up neatly with its longer-term record. The short-term picture still looks fragile, but the 3-year and 5-year numbers point to a more durable compounding pattern than the benchmark has delivered over the same spans.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Shriram 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.

Already holding Shriram ELSS Tax Saver? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Shriram ELSS Tax Saver Fund Direct Growth Plan	-2.72%	6.50%	6.63%
Quant ELSS Tax Saver Fund Direct Growth Plan	13.68%	13.97%	15.53%
Motilal Oswal ELSS Tax Saver Fund Direct Growth Plan	8.80%	21.01%	16.82%
Sundaram LT Micro Cap Tax Adv Fund-Sr IV- Direct Growth Plan	6.72%	11.46%	15.82%
Edelweiss ELSS Tax saver Fund Direct Growth Plan	6.42%	13.21%	12.17%
JM ELSS-Tax Saver Fund Direct Growth Plan	6.09%	15.31%	13.81%

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

The current fund trails the better short-term peer figures by a wide margin, especially on the 1-year horizon where several peers are comfortably positive. That makes the recent return profile look subdued rather than competitive on a one-year basis.

The longer-term picture is mixed in peer terms. The fund’s 3-year and 5-year returns are positive, but several peers have delivered materially stronger numbers over the same spans. So while the fund has held up better than its benchmark over 3 years and 5 years, it has not matched the strongest peer outcomes. The short-term and longer-term comparisons therefore tell different stories: the fund has been less weak than the benchmark, but not as strong as the better peer returns.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Ltd.	Bank	6.99%
ICICI Bank Ltd.	Bank	5.17%
Reliance Industries Ltd.	Crude Oil	4.90%
State Bank of India	Bank	4.15%
Axis Bank Ltd.	Bank	4.02%
Bharti Airtel Ltd.	Telecom	3.65%
Interglobe Aviation Ltd.	Aviation	2.38%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	2.11%
SBI Life Insurance Company Ltd.	Insurance	2.00%
Infosys Ltd.	IT	1.91%

The largest holding, HDFC Bank Ltd., stands at 6.99%, so it is large enough to matter but not so dominant that it fully defines the fund. The gap from the first holding to the tenth is moderate rather than extreme, which suggests the portfolio is not built around a single overwhelming bet.

The top 10 holdings account for approximately 37.28% of the portfolio, and the fund discloses 58 holdings in total. That combination points to a reasonably broad tail beyond the largest positions, even though the top slice still carries meaningful weight. The bank exposure at the top may continue to influence short-term behaviour because several of the largest positions sit in the same broad area of the market.

At the same time, the holdings list includes sectors such as telecom, aviation, insurance, IT and automobile & ancillaries, which may help spread stock-specific risk across different parts of the economy. The portfolio is therefore not narrowly single-sector, but the larger positions could still have a stronger effect on returns than the smaller names.

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

Source data date: as of 15 Sep 2026

Who should invest

This fund suits investors who can accept High Risk exposure and are comfortable with short-term swings in pursuit of longer holding-period outcomes. The recent 1-year decline shows that the ride can be uneven, while the 3-year and 5-year figures are more supportive of a patient approach.

It is more relevant for investors with an ELSS horizon who can stay invested through market cycles, rather than those seeking steady month-to-month performance. The main trade-off is clear: you may get better longer-run participation than the latest numbers suggest, but you also need to tolerate weaker stretches when the benchmark and peers may move ahead faster.

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.

Source data date: as of 15 Sep 2026

Frequently asked questions

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

The current NAV is ₹22.9029 as of 15 September 2026.

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

The fund’s 1-year return is -2.72%, the 3-year return is 6.50% and the 5-year return is 6.63%.

How does the fund compare with the benchmark?

It has beaten the Nifty 50 over 3 years and 5 years, while the 1-year figure remains weaker than a longer-term recovery would suggest. Over 1 month and 3 months, it also fell less than the benchmark.

How does it compare with the peer funds listed here?

The fund’s recent 1-year return is weaker than the peer figures shown, and its 3-year and 5-year returns are also below several of those peers. The longer-term gap is narrower than the short-term gap, but it still trails the stronger peer numbers.

What is the minimum SIP?

The fund allows SIP investing, but no minimum SIP amount is stated here.

Who manages the fund and what is the exit load?

The fund is managed by Prateek Nigudkar and Hitesh Savanth. It has no exit load.

Bottom line

Shriram ELSS Tax Saver Fund Direct Growth Plan has a weaker recent return profile than its longer-term record, but the 3-year and 5-year numbers are still above the benchmark. Compared with the peer set shown here, it lags on available return figures, especially over 1 year. The fund carries High Risk and is shaped by a fairly concentrated top tier of holdings, led by HDFC Bank Ltd. That makes it better suited to patient ELSS investors who can live with uneven short-term outcomes.

Published on 16 September 2026 at 9:36 AM IST

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.