ITI ELSS Tax Saver Fund
Direct · GrowthAI Summary
ITI ELSS Tax Saver Fund has delivered strong SIP XIRR of 23.00% (1Y), 19.88% (3Y), and 19.35% (5Y), comfortably ahead of category averages of 17.08%, 15.16%, and 16.31% respectively. Against the NIFTY 50, the fund has generated substantial alpha of 13.13% (1Y), 11.63% (3Y), and 6.97% (5Y), with lump-sum CAGRs of 19.52% (3Y) and 14.80% (5Y) versus benchmark returns of 7.75% and 7.83%. Calendar year returns show occasional soft years, such as 4.01% in 2025 and 3.34% in 2022, but strong outperformance years like 38.35% in 2023 and 24.87% in 2024.
The fund shows a modest maximum drawdown of -0.38% with a 59-day drawdown duration and 239-day recovery, indicating limited recent peak-to-trough stress, though it has experienced 3 drawdown events exceeding 10% historically. Beta has trended down from around 1.11-1.15 over 1-3 years to 0.90 over longer horizons, with downside capture improving from 100.35% (1Y) to 87.11% (15Y), suggesting better downside protection over extended periods. Calmar ratios of 0.56 (1Y), 0.53 (3Y), and 0.50 (5Y) reflect reasonable risk-adjusted returns, though the elevated 1Y beta of 1.15 and near-100% downside capture in shorter windows indicate the fund can fully participate in market declines.
The portfolio holds 63 stocks with a well-diversified top 10, where the largest position is HDFC Bank at just 3.54% of NAV, indicating no significant single-stock concentration. Financials dominate the portfolio, with Finance (18.7%) and Banks (16.2%) together accounting for roughly 35% of assets, complemented by Industrial Products (8.7%) and Automobiles (5.5%). The top 10 includes a mix of large-cap banks, NBFCs like Bajaj Finance and Cholamandalam, auto names such as TVS Motor and Mahindra & Mahindra, and a smaller mid-cap exposure via Sansera Engineering.
The fund outperforms the category average SIP XIRR across all reported horizons, with the widest gap at 3 years (19.88% vs 15.16%) and 5 years (19.35% vs 16.31%). Consistency is evident in rolling returns, with 1Y, 3Y, and 5Y rolling means of 21.69%, 20.55%, and 19.23% respectively, showing stable long-horizon performance. The combination of positive alpha across every period from 1Y to 15Y suggests sustained stock-selection skill rather than a single lucky stretch.
This fund suits investors seeking equity exposure with Section 80C tax benefits and a long-term horizon of at least 5-7 years, as ELSS has a mandatory 3-year lock-in per SIP installment. It is appropriate for investors with moderate-to-high risk tolerance, given the financials-heavy tilt and the fund's full participation in market declines over shorter windows. Conservative investors seeking low volatility or those uncomfortable with sector concentration in banking and finance should consider diversifying across other ELSS or flexi-cap funds.
- SIP XIRR beats category averages across all horizons, including 19.88% (3Y) vs 15.16% category and 19.35% (5Y) vs 16.31% category
- Consistent positive alpha versus NIFTY 50 across every measured period, from 13.13% (1Y) to 2.21% (15Y)
- Well-diversified 63-stock portfolio with the top holding at only 3.54% of NAV and improving downside capture (87.11%) over longer horizons
- Heavy financial sector exposure, with Finance (18.7%) and Banks (16.2%) together comprising roughly 35% of the portfolio
- Elevated 1Y beta of 1.15 and downside capture above 100% in the 1Y and 3Y windows indicate the fund can fall as much as or more than the benchmark in short-term downturns
Generated on 06-09-2026, 7:47 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 | ₹12.88 L | 23.0% | -27.4% | 90.6% |
| 3 Years | ₹36.00 L | ₹46.16 L | 19.9% | 0.7% | 40.5% |
| 5 Years | ₹60.00 L | ₹94.62 L | 19.3% | 9.1% | 30.9% |
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 | 23.0% | 14.4% | 15.9% | +8.6% |
| 3 Years | 19.9% | 11.1% | 13.6% | +8.8% |
| 5 Years | 19.3% | 10.4% | 15.8% | +8.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 21.7% | 13.1% | -14.8% | 96.1% | 0.65 | 3.13 | 84% | — | — |
| 3 Years | 20.6% | 20.8% | 10.6% | 29.5% | 4.21 | — | 100% | — | — |
| 5 Years | 19.2% | 19.8% | 12.0% | 29.3% | 2.98 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +13.13 | 1.15 | 117.8% | 100.3% | 8.8% | -2.9% |
| 3 Years | +11.63 | 1.11 | 115.2% | 101.3% | 19.5% | 7.8% |
| 5 Years | +6.97 | 1.00 | 101.6% | 92.9% | 14.8% | 7.8% |
| 7 Years | +5.85 | 0.90 | 93.8% | 87.1% | 16.2% | 10.8% |
| 10 Years | +3.74 | 0.90 | 93.8% | 87.1% | 11.1% | 7.4% |
| 12 Years | +2.97 | 0.90 | 93.8% | 87.1% | 9.2% | 6.2% |
| 15 Years | +2.21 | 0.90 | 93.8% | 87.1% | 7.3% | 4.9% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | HDFC Bank Limited | 3.54% |
| 2 | Cholamandalam Investment and Finance Company Ltd | 3.13% |
| 3 | TVS Motor Company Limited | 2.97% |
| 4 | Bajaj Finance Limited | 2.96% |
| 5 | Axis Bank Limited | 2.63% |
| 6 | Mahindra & Mahindra Limited | 2.48% |
| 7 | State Bank of India | 2.45% |
| 8 | IIFL Finance Limited | 2.18% |
| 9 | Bharti Airtel Limited | 2.17% |
| 10 | Sansera Engineering Limited | 2.02% |