ICICI Prudential ELSS Tax Saver Fund
Direct · GrowthAI Summary
ICICI Prudential ELSS Tax Saver Fund has delivered strong long-term SIP returns, with XIRR of 15.30% over 10 years and 14.99% over 3 years. It has consistently outperformed the NIFTY 50 on a lump-sum basis, with fund CAGR of 13.14% versus 10.79% for the benchmark over 10 years and positive alpha across all periods (2.86% to 5.62%). However, its XIRR trails the category average SIP XIRR over 5Y (14.79% vs 16.31%), 7Y (14.86% vs 15.76%), and 10Y (15.30% vs 16.14%), though it leads over 1Y (18.71% vs 17.08%) and 15Y.
The fund exhibits a defensive risk profile with a beta below 0.90 across all periods (0.86-0.96) and consistently low downside capture, ranging from 83.59% to 91.81% versus the NIFTY 50. Risk-adjusted returns are solid, with Calmar ratios between 0.38 and 0.48 across horizons and alpha of 2.86% to 5.62% in every period measured. The maximum drawdown of -0.38% with a 239-day recovery indicates the fund has experienced meaningful but recoverable declines, with 10 drawdown events exceeding 10% over its history.
The portfolio is well diversified across 86 holdings, with the top 10 positions accounting for roughly 52% of NAV. Banks dominate the sector allocation at 22.7%, led by ICICI Bank (8.1%), HDFC Bank (7.22%), and Axis Bank (5.38%), followed by Automobiles at 10.5%. The remaining exposure spans retailing, pharmaceuticals, petroleum, construction, and power, providing reasonable diversification beyond financials.
The fund sits in the middle of its ELSS peer group: it beats the category average SIP XIRR over 1Y and 15Y but lags over the 3Y, 5Y, 7Y, 10Y, and 12Y horizons. Its long-term consistency is a strength, with XIRR remaining in a tight 14.79% to 15.30% band across 5Y to 12Y periods. Calendar year returns show steady compounding, with positive returns in 13 of the last 14 years, though 2026 has started at -1.75%.
This fund suits investors seeking equity exposure with Section 80C tax benefits and a long-term horizon of at least 5-7 years, given the mandatory 3-year lock-in. Its below-market beta and strong downside capture make it appropriate for moderately risk-averse investors who want steadier returns than the index. Investors should be comfortable with banking sector concentration of nearly 23% and moderate short-term volatility.
- Consistent alpha over the NIFTY 50 across all measured periods, ranging from 2.86% (10Y) to 5.62% (3Y)
- Low downside capture (83.59%-91.81%) and beta below 0.90 in most periods, indicating strong downside protection
- Highly consistent long-term SIP XIRR of 14.79%-15.30% across 5Y, 7Y, 10Y, and 12Y horizons
- SIP XIRR trails the category average over 3Y, 5Y, 7Y, 10Y, and 12Y horizons, suggesting mid-pack performance among ELSS peers
- Heavy banking sector concentration at 22.7% of the portfolio creates sector-specific risk
Generated on 06-09-2026, 7:57 PM. 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 | ₹12.71 L | 18.7% | -57.7% | 98.3% |
| 3 Years | ₹36.00 L | ₹44.77 L | 15.0% | -21.0% | 35.5% |
| 5 Years | ₹60.00 L | ₹88.32 L | 14.8% | -8.4% | 27.1% |
| 7 Years | ₹84.00 L | ₹1.43 Cr | 14.9% | -0.6% | 22.3% |
| 10 Years | ₹1.20 Cr | ₹2.66 Cr | 15.3% | 12.6% | 18.8% |
| 12 Years | ₹1.44 Cr | ₹3.80 Cr | 15.0% | 12.5% | 17.0% |
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 | 18.7% | 14.4% | 17.1% | +4.4% |
| 3 Years | 15.0% | 11.1% | 15.2% | +3.9% |
| 5 Years | 14.8% | 10.4% | 16.3% | +4.4% |
| 7 Years | 14.9% | 10.6% | 15.8% | +4.3% |
| 10 Years | 15.3% | 11.5% | 16.1% | +3.8% |
| 12 Years | 15.0% | 11.4% | 15.6% | +3.6% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.0% | 11.9% | -32.2% | 95.0% | 0.56 | 2.08 | 89% | — | — |
| 3 Years | 15.5% | 15.6% | -6.7% | 32.6% | 1.45 | 6.25 | 98% | — | — |
| 5 Years | 15.1% | 14.9% | -0.5% | 28.8% | 1.75 | 13.51 | 100% | — | — |
| 10 Years | 15.1% | 14.9% | 11.9% | 18.2% | 6.13 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +4.20 | 0.96 | 98.3% | 91.8% | 1.6% | -2.9% |
| 3 Years | +5.62 | 0.90 | 94.1% | 86.4% | 13.2% | 7.8% |
| 5 Years | +3.98 | 0.90 | 92.0% | 86.6% | 11.7% | 7.8% |
| 7 Years | +4.48 | 0.89 | 92.0% | 87.1% | 15.7% | 11.8% |
| 10 Years | +2.86 | 0.88 | 90.3% | 86.5% | 13.1% | 10.8% |
| 12 Years | +3.65 | 0.87 | 89.3% | 84.5% | 13.0% | 9.8% |
| 15 Years | +4.08 | 0.86 | 89.3% | 83.6% | 13.4% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. | 8.10% |
| 2 | HDFC Bank Ltd. | 7.22% |
| 3 | Axis Bank Ltd. | 5.38% |
| 4 | Reliance Industries Ltd. | 5.18% |
| 5 | Avenue Supermarts Ltd. | 5.07% |
| 6 | TVS Motor Company Ltd. | 5.01% |
| 7 | Sun Pharmaceutical Industries Ltd. | 4.88% |
| 8 | Larsen & Toubro Ltd. | 4.43% |
| 9 | Maruti Suzuki India Ltd. | 3.70% |
| 10 | NTPC Ltd. | 3.40% |