Invesco India ELSS Tax Saver Fund
Direct · GrowthAI Summary
The fund has delivered strong SIP XIRR across long horizons, with 3Y at 16.33% versus the category average of 14.54% and 10Y at 15.74% versus 15.77%. Recent performance lags the category, however, with 1Y XIRR of 9.78% only marginally ahead of 9.56% and 5Y XIRR of 16.13% below the 16.77% category average. Calendar year returns show significant dispersion, ranging from 56.14% in 2014 to losses in 2022, 2025, and 2026.
The maximum drawdown of -0.36% with a 33-day duration indicates muted measured downside in the recent window, though 8 drawdown events exceeding 10% historically confirm meaningful interim volatility typical of equity funds. Calmar ratios between 0.44 and 0.52 across horizons suggest returns have compensated reasonably well for drawdown risk. Recovery from the max drawdown took 231 days, which investors should note when planning liquidity needs.
The portfolio is diversified across 71 holdings with no single stock above 5.05% (HDFC Bank), and the top 10 holdings total roughly 25.4% of NAV. Banks dominate at 16.6%, followed by Capital Markets at 8.0%, giving meaningful financial sector exposure, while Pharma, Auto Components, and IT provide balance. The remainder of the book includes mid-cap oriented names like Jyoti CNC Automation and Mrs. Bectors Food, adding allocation breadth.
Against category peers, the fund clearly outperforms on 3Y SIP XIRR (16.33% vs 14.54%) but trails on 5Y (16.13% vs 16.77%), indicating uneven relative consistency across periods. Over 7Y, 10Y, and 12Y it tracks the category closely at 15.58%, 15.74%, and 15.33% respectively. Rolling return means in the mid-16% range over 3Y to 12Y windows reinforce its long-term reliability.
This fund suits tax-focused investors seeking Section 80C benefits through ELSS, ideally with a SIP over a 5-7 year horizon given ELSS's 3-year lock-in on each installment. It fits investors with moderate-to-high risk tolerance who can accept negative calendar years like 2022 (-7.61%) and 2025 (-2.57%). Those needing short-term liquidity or averse to three-year lock-ins should consider open-ended alternatives.
- 3Y SIP XIRR of 16.33% meaningfully outpaces the category average of 14.54%
- Diversified portfolio of 71 holdings with no excessive single-stock concentration (top holding at 5.05%)
- Strong long-term rolling return consistency, with mean rolling returns between 15.63% and 16.89% across 7Y-12Y windows
- Underperformance versus the category on 5Y SIP XIRR (16.13% vs 16.77%) and marginal 1Y relative performance suggests recent peer weakness
- Financial sector tilt (Banks 16.6% plus Capital Markets 8.0%, including four banks in the top 10) creates concentrated exposure to banking cycle risk
Generated on 02-11-2026, 3:38 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 | ₹12.87 L | 19.4% | -51.2% | 85.0% |
| 3 Years | ₹36.00 L | ₹45.21 L | 15.9% | -17.0% | 36.3% |
| 5 Years | ₹60.00 L | ₹87.56 L | 15.6% | -4.5% | 27.1% |
| 7 Years | ₹84.00 L | ₹1.44 Cr | 15.6% | 3.2% | 22.6% |
| 10 Years | ₹1.20 Cr | ₹2.69 Cr | 15.7% | 11.5% | 19.6% |
| 12 Years | ₹1.44 Cr | ₹3.90 Cr | 15.4% | 12.0% | 19.2% |
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 | 19.4% | 9.6% |
| 3 Years | 15.9% | 14.5% |
| 5 Years | 15.6% | 16.8% |
| 7 Years | 15.6% | 15.8% |
| 10 Years | 15.7% | 15.8% |
| 12 Years | 15.4% | 15.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.6% | 14.7% | -26.8% | 88.3% | 0.58 | 2.12 | 81% | — | — |
| 3 Years | 16.6% | 16.4% | -2.0% | 32.7% | 1.93 | 15.60 | 100% | — | — |
| 5 Years | 16.1% | 16.4% | 1.8% | 27.8% | 2.00 | 36.88 | 100% | — | — |
| 10 Years | 16.2% | 16.1% | 12.8% | 19.6% | 5.58 | — | 100% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC Bank Limited | 5.05% |
| 2 | ICICI Bank Limited | 3.55% |
| 3 | Jyoti CNC Automation Ltd | 2.51% |
| 4 | Divi's Laboratories Limited | 2.20% |
| 5 | Axis Bank Limited | 2.11% |
| 6 | Eternal Limited | 2.05% |
| 7 | InterGlobe Aviation Limited | 2.03% |
| 8 | Kotak Mahindra Bank Ltd | 1.96% |
| 9 | Multi Commodity Exchange of India Limited | 1.92% |
| 10 | Mrs. Bectors Food Specialities Ltd | 1.88% |