Franklin India ELSS Tax Saver Fund
Direct · GrowthAI Summary
Franklin India ELSS Tax Saver Fund has delivered consistent long-term SIP returns, with XIRR of 15.12% over 5Y, 15.10% over 7Y, and 16.05% over 10Y, outperforming the NIFTY 50 lump-sum CAGR across all periods (e.g., 13.23% vs 7.83% over 5Y). Against the category, the fund's 1Y XIRR of 19.11% and 3Y XIRR of 15.60% beat the category averages of 17.08% and 15.16% respectively, though its 5Y (15.12% vs 16.31%) and 10Y (16.05% vs 16.14%) XIRR lag slightly. Positive alpha across all measured periods, including 5.53% over 3Y and 5.45% over 5Y, indicates genuine benchmark outperformance.
The fund shows a beta below 1 across all periods (0.90-0.98), with downside capture consistently below upside capture (e.g., 90.64% downside vs 97.47% upside over 5Y), indicating better-than-market loss protection. The maximum drawdown of -0.39% with a 66-day duration and 240-day recovery suggests limited recent drawdown stress, though 7 drawdown events exceeding 10% have occurred historically. Calmar ratios between 0.36 and 0.47 across horizons reflect reasonable risk-adjusted returns relative to drawdown experienced.
The portfolio is heavily weighted toward financials, with Banks alone at 28.1% and the top four holdings all banks (HDFC Bank 7.82%, ICICI Bank 7.59%, Axis Bank 4.88%, SBI 4.67%). With 48 total holdings and the top 10 accounting for roughly 46% of NAV, the fund is reasonably diversified at the stock level, though sector concentration in banks is a notable feature. Other meaningful exposures include IT-Software (7.3%), Construction (4.5%), and Aerospace & Defense (4.2%).
The fund beats the category average SIP XIRR over 1Y (19.11% vs 17.08%), 3Y (15.60% vs 15.16%), and 12Y (15.63% vs 15.61%), but trails over 5Y (15.12% vs 16.31%), 7Y (15.10% vs 15.76%), and 10Y (16.05% vs 16.14%). Its 15Y lump-sum CAGR of 13.48% versus the benchmark's 9.74% underscores long-horizon consistency. Overall, the fund sits near the middle of its ELSS peer group, with recent performance stronger than its longer-term relative standing.
This fund suits investors seeking Section 80C tax benefits alongside equity growth, with a mandatory 3-year lock-in per SIP installment. It is appropriate for those with a 5-7 year or longer horizon and moderate risk tolerance, given the 28.1% bank sector concentration and equity market volatility. Investors comfortable with near-market beta but historically lower downside capture should find it a solid core ELSS holding.
- Consistent positive alpha versus NIFTY 50 across all periods, including 5.53% over 3Y and 5.45% over 5Y
- Downside capture consistently below upside capture (e.g., 88.73% downside vs 93.97% upside over 12Y), indicating loss protection in weak markets
- Strong recent SIP performance with 1Y XIRR of 19.11% beating the category average of 17.08%
- Heavy sector concentration in Banks at 28.1% of NAV, with the top four holdings all banks, creating sector-specific risk
- SIP XIRR trails the category average over 5Y (15.12% vs 16.31%), 7Y, and 10Y horizons, indicating middling long-term peer positioning
Generated on 04-09-2026, 2:50 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 | ₹12.70 L | 19.1% | -61.5% | 108.8% |
| 3 Years | ₹36.00 L | ₹45.43 L | 15.6% | -25.0% | 36.0% |
| 5 Years | ₹60.00 L | ₹88.72 L | 15.1% | -11.5% | 30.8% |
| 7 Years | ₹84.00 L | ₹1.44 Cr | 15.1% | -2.6% | 24.4% |
| 10 Years | ₹1.20 Cr | ₹2.79 Cr | 16.0% | 12.7% | 19.7% |
| 12 Years | ₹1.44 Cr | ₹3.97 Cr | 15.6% | 12.9% | 18.4% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 19.1% | 14.4% | 17.1% | +4.7% |
| 3 Years | 15.6% | 11.1% | 15.2% | +4.5% |
| 5 Years | 15.1% | 10.4% | 16.3% | +4.7% |
| 7 Years | 15.1% | 10.6% | 15.8% | +4.5% |
| 10 Years | 16.0% | 11.5% | 16.1% | +4.6% |
| 12 Years | 15.6% | 11.4% | 15.6% | +4.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.3% | 11.6% | -35.9% | 98.8% | 0.53 | 1.79 | 83% | — | — |
| 3 Years | 16.1% | 17.2% | -8.6% | 35.1% | 1.22 | 4.19 | 95% | — | — |
| 5 Years | 15.2% | 14.5% | -2.4% | 32.1% | 1.42 | 7.71 | 99% | — | — |
| 10 Years | 15.5% | 15.1% | 12.5% | 18.6% | 5.71 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +1.87 | 0.98 | 98.2% | 95.9% | -0.9% | -2.9% |
| 3 Years | +5.53 | 0.97 | 99.5% | 92.4% | 13.3% | 7.8% |
| 5 Years | +5.45 | 0.96 | 97.5% | 90.6% | 13.2% | 7.8% |
| 7 Years | +4.85 | 0.94 | 96.1% | 91.0% | 16.3% | 11.8% |
| 10 Years | +2.50 | 0.93 | 94.4% | 91.1% | 13.0% | 10.8% |
| 12 Years | +4.23 | 0.92 | 94.0% | 88.7% | 13.8% | 9.8% |
| 15 Years | +4.06 | 0.90 | 92.4% | 86.9% | 13.5% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd | 7.71% |
| 2 | HDFC Bank Ltd | 6.02% |
| 3 | Axis Bank Ltd | 5.18% |
| 4 | State Bank of India | 4.83% |
| 5 | Larsen & Toubro Ltd | 4.66% |
| 6 | Eternal Ltd | 3.95% |
| 7 | Infosys Ltd | 3.48% |
| 8 | Kotak Mahindra Bank Ltd | 3.36% |
| 9 | Mahindra & Mahindra Ltd | 3.17% |
| 10 | Bharti Airtel Ltd | 3.09% |