HSBC ELSS Tax Saver Fund
Direct · GrowthAI Summary
HSBC ELSS Tax Saver Fund has delivered a 10Y SIP XIRR of 14.99% and a 12Y XIRR of 15.06%, outperforming the category average SIP XIRR of 15.78% only marginally over 12Y while trailing it over 5Y (14.48% vs 16.77%) and 7Y (14.16% vs 15.84%). Over the shorter 1Y horizon, the fund's 11.89% XIRR beats the category average of 9.58%, and its 3Y XIRR of 13.45% trails the category's 14.55%. Long-term lump-sum performance is solid, with rolling 12Y mean returns of 15.55%.
The fund has experienced 7 drawdown events exceeding 10%, with the maximum drawdown lasting 790 days and taking 245 days to recover, indicating that investors have had to endure extended recovery periods. Calmar ratios between 0.35 and 0.44 across horizons suggest moderate risk-adjusted efficiency. Calendar year returns show meaningful volatility, ranging from -7.15% in 2018 to 45.43% in 2014, with recent years (2025: 0.57%, 2026: -3.68%) reflecting a weak stretch.
The portfolio is well diversified across 72 holdings, with the top 10 positions comprising only about 26% of NAV and no single stock exceeding 3.49%. Sector allocation is led by Banks (11.8%) and Electrical Equipment (10.9%), with meaningful exposure to IT-Software (6.7%), Finance (6.5%), and Consumer Durables (5.8%). The tilt toward financials and capital-linked sectors like electrical equipment and construction suggests a cyclical growth orientation.
The fund's XIRR beats the category average over 1Y and 12Y but lags over 3Y, 5Y, 7Y, and 10Y, indicating middling relative performance across most medium-term windows. Its strong calendar year gains in 2014, 2017, 2021, 2023, and 2024 demonstrate an ability to capture bull-market upside. However, the recent two-year soft patch (0.57% in 2025 and -3.68% in 2026) has weighed on shorter-term category standing.
This fund suits investors seeking Section 80C tax savings who can commit to the mandatory 3-year lock-in and ideally hold for 7-10 years to smooth out drawdown cycles. It is appropriate for investors with moderate-to-high risk tolerance, given the seven >10% drawdown events and multi-year recovery periods. SIP investors benefit from the fund's consistent long-term XIRR above 14% across all horizons beyond 5 years.
- Consistent long-term SIP XIRR above 14% across 5Y, 7Y, 10Y, and 12Y horizons, with 12Y XIRR of 15.06% beating the category average of 15.35% only narrowly but 1Y XIRR of 11.89% clearly ahead of the category's 9.58%
- Highly diversified portfolio of 72 stocks with the top holding at just 3.49% of NAV, limiting single-stock concentration risk
- Strong upside capture in bull years, including 45.43% in 2014, 42.66% in 2017, and 34.33% in 2024
- XIRR trails the category average over 3Y, 5Y, 7Y, and 10Y horizons, including a notable 2.29 percentage point gap over 5Y (14.48% vs 16.77%)
- Seven drawdown events exceeding 10%, with the maximum drawdown persisting for 790 days, and weak recent calendar returns of 0.57% in 2025 and -3.68% in 2026
Generated on 30-10-2026, 2:20 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 | ₹12.74 L | 18.1% | -57.1% | 78.9% |
| 3 Years | ₹36.00 L | ₹45.34 L | 15.2% | -24.1% | 36.2% |
| 5 Years | ₹60.00 L | ₹85.68 L | 14.5% | -9.3% | 29.0% |
| 7 Years | ₹84.00 L | ₹1.37 Cr | 14.2% | -1.4% | 22.7% |
| 10 Years | ₹1.20 Cr | ₹2.60 Cr | 15.0% | 11.3% | 18.9% |
| 12 Years | ₹1.44 Cr | ₹3.73 Cr | 15.0% | 12.6% | 17.9% |
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 | 18.1% | 9.6% |
| 3 Years | 15.2% | 14.5% |
| 5 Years | 14.5% | 16.8% |
| 7 Years | 14.2% | 15.8% |
| 10 Years | 15.0% | 15.8% |
| 12 Years | 15.0% | 15.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 17.3% | 12.8% | -31.6% | 88.2% | 0.54 | 1.66 | 82% | — | — |
| 3 Years | 15.4% | 16.6% | -6.9% | 29.6% | 1.38 | 4.28 | 96% | — | — |
| 5 Years | 14.4% | 14.3% | -0.1% | 28.9% | 1.47 | 13.20 | 100% | — | — |
| 10 Years | 14.8% | 14.8% | 12.0% | 17.1% | 8.05 | — | 100% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | AVALON TECHNOLOGIES LIMITED | 3.49% |
| 2 | HDFC Bank Limited | 3.49% |
| 3 | Reliance Industries Limited | 3.16% |
| 4 | GE Vernova T&D India Limited | 2.71% |
| 5 | Shriram Finance Limited | 2.49% |
| 6 | Larsen & Toubro Limited | 2.38% |
| 7 | Bharti Airtel Limited | 2.14% |
| 8 | Infosys Limited | 2.09% |
| 9 | State Bank of India | 2.07% |
| 10 | Eternal Limited | 1.98% |