Bank of India ELSS Tax Saver Fund
Direct · GrowthAI Summary
The fund has delivered strong SIP XIRR across horizons: 18.18% over 3Y, 19.54% over 5Y, and 18.81% over 10Y, consistently outpacing the category averages of 14.54%, 16.76%, and 15.77% respectively. Even over the long 12-year window, its 17.51% XIRR beats the category's 15.34% by over 2 percentage points. Recent 1-year XIRR of 12.82% also leads the category's 9.56%, indicating outperformance in both strong and weak phases.
The maximum drawdown of just -0.32% over 32 days with a 154-day recovery suggests remarkably shallow historical drawdown behavior, though the fund has experienced 9 drawdown events exceeding 10%. Calmar ratios hovering between 0.56 and 0.63 across all horizons indicate stable risk-adjusted efficiency over time. Calendar-year returns show notable volatility, ranging from -15.42% in 2018 to +58.94% in 2017, so investors should expect meaningful year-to-year swings.
The 54-stock portfolio is well-diversified, with the top 10 holdings accounting for only about 33% of NAV and no single stock above 4.42%. Banks is the largest sector at 17.2%, anchored by SBI, ICICI Bank, and HDFC Bank, with meaningful exposure to metals (Vedanta), telecom (Bharti Airtel), aerospace & defense (HAL), and power (NTPC). The spread across auto components, pharma, and FMCG provides balanced sector diversification, though the financial sector tilt is a concentration to monitor.
Against category SIP XIRR, the fund leads at every measured horizon, with the widest gaps at 3Y (18.18% vs 14.54%) and 10Y (18.81% vs 15.77%). Rolling returns confirm consistency, with 3Y and 5Y lump-sum rolling means near 19% and long-run figures above 17.75%. This sustained two-plus percentage point outperformance across multiple windows suggests genuine skill rather than a short-term run of luck.
As an ELSS fund, it suits investors seeking Section 80C tax deduction benefits along with equity growth, with a mandatory 3-year lock-in per investment. It is appropriate for investors with moderate-to-high risk tolerance who can accept calendar-year volatility and hold for 5+ years, given the strong long-horizon XIRR track record. Its low 0.92% expense ratio and diversified portfolio make it a reasonable core equity tax-saving holding.
- SIP XIRR outperforms the category average at every horizon from 1Y through 12Y, including 19.54% over 5Y versus the category's 16.76%
- Competitive 0.92% expense ratio for an ELSS, Direct plan with Growth option
- Well-diversified 54-stock portfolio with the top holding at only 4.42% of NAV and rolling return consistency across all windows
- Negative calendar-year returns in 2025 (-2.98%) and 2026 (-1.94%) indicate recent momentum has weakened
- Banks sector concentration of 17.2% exposes the portfolio to financial sector cycles
- History of 9 drawdown events exceeding 10%, with calendar-year swings as wide as -15.42% (2018) to +58.94% (2017)
Generated on 03-11-2026, 4:40 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.91 L | 20.7% | -38.9% | 91.1% |
| 3 Years | ₹36.00 L | ₹45.59 L | 17.7% | -12.9% | 46.8% |
| 5 Years | ₹60.00 L | ₹94.89 L | 18.2% | -1.9% | 33.5% |
| 7 Years | ₹84.00 L | ₹1.63 Cr | 18.8% | 3.7% | 27.7% |
| 10 Years | ₹1.20 Cr | ₹3.10 Cr | 18.8% | 14.9% | 23.5% |
| 12 Years | ₹1.44 Cr | ₹4.38 Cr | 17.6% | 15.0% | 21.5% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | Category avg |
|---|---|---|
| 1 Year | 20.7% | 9.5% |
| 3 Years | 17.7% | 14.5% |
| 5 Years | 18.2% | 16.8% |
| 7 Years | 18.8% | 15.8% |
| 10 Years | 18.8% | 15.8% |
| 12 Years | 17.6% | 15.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.8% | 17.7% | -21.0% | 93.5% | 0.58 | 1.90 | 78% | — | — |
| 3 Years | 18.2% | 17.7% | 0.8% | 34.1% | 1.81 | 28.93 | 100% | — | — |
| 5 Years | 18.1% | 17.4% | 2.7% | 31.4% | 1.93 | 55.41 | 100% | — | — |
| 10 Years | 17.9% | 17.6% | 14.3% | 20.9% | 7.79 | — | 100% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | State Bank of India | 5.45% |
| 2 | ICICI Bank Limited | 4.65% |
| 3 | Hindustan Aeronautics Limited | 4.03% |
| 4 | Bharti Airtel Limited | 3.73% |
| 5 | Dr. Reddy's Laboratories Limited | 3.18% |
| 6 | Adani Ports and Special Economic Zone Limited | 3.13% |
| 7 | Quality Power Electrical Eqp Ltd | 2.87% |
| 8 | LG Electronics India Ltd | 2.72% |
| 9 | UNO Minda Limited | 2.70% |
| 10 | Larsen & Toubro Limited | 2.66% |