Mirae Asset ELSS Tax Saver Fund
Direct · GrowthAI Summary
Mirae Asset ELSS Tax Saver Fund has delivered strong SIP XIRR across all horizons, ranging from 17.15% over 10 years to 20.61% over 1 year, consistently outperforming the category average SIP XIRR by roughly 1.5 to 3.1 percentage points. Against the NIFTY 50, the fund shows positive alpha across all periods, including 8.46% over 1 year and 6.63% over 3 years, with lump-sum CAGRs beating the benchmark by 4.7 to 6.6 percentage points. This demonstrates sustained outperformance across both SIP and lump-sum investing modes.
The fund exhibits a beta below 1.0 in most periods (0.95 to 1.02) with downside capture consistently under 93%, indicating it falls less than the benchmark during declines. Risk-adjusted returns are solid, with Calmar ratios around 0.49 to 0.54 across horizons and 8 drawdown events exceeding 10% over the fund's history. The maximum drawdown of -0.38% recovered in 197 days, suggesting relatively contained peak-to-trough losses for an equity fund.
Portfolio composition data such as top holdings and sector allocation was not provided in this analysis, so specific concentration or diversification comments cannot be made. As an ELSS fund, it must maintain at least 80% equity exposure per SEBI mandate. Investors should review the latest factsheet for holding-level details before investing.
The fund outperforms the category average SIP XIRR at every measured horizon, with the widest gaps over 3 years (18.26% vs 15.16%) and 10 years (17.15% vs 16.14%). Calendar year returns show strong consistency, with positive years in 10 of the last 12 and only shallow losses in down years like 2022 (-0.26%) and 2018 (-0.32%). This combination of above-average returns and low downside capture positions it among the more consistent ELSS performers.
This fund suits investors seeking equity growth with Section 80C tax deduction benefits, given the mandatory 3-year lock-in of ELSS investments. It is appropriate for those with a 5-year or longer horizon and moderate risk tolerance, as the sub-1 beta and low downside capture make it relatively resilient during market declines. SIP investors in particular benefit from the fund's demonstrated XIRR outperformance versus both peers and the benchmark.
- SIP XIRR beats the category average at every horizon, including 18.26% vs 15.16% over 3 years and 17.15% vs 16.14% over 10 years
- Consistent positive alpha versus NIFTY 50 across all periods, ranging from 4.73% to 8.46%
- Downside capture below 93% in all periods with beta mostly under 1.0, indicating strong downside protection
- Eight drawdown events exceeding 10% have occurred over the fund's history, which is meaningful equity risk despite contained average drawdowns
- No portfolio holdings or sector data was provided, so concentration risk cannot be assessed from this analysis
Generated on 06-09-2026, 7:52 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 | ₹12.90 L | 20.6% | -56.2% | 109.2% |
| 3 Years | ₹36.00 L | ₹45.99 L | 18.3% | -18.1% | 41.6% |
| 5 Years | ₹60.00 L | ₹97.06 L | 20.0% | 8.5% | 28.6% |
| 7 Years | ₹84.00 L | ₹1.63 Cr | 19.0% | 13.5% | 24.0% |
| 10 Years | ₹1.20 Cr | ₹2.84 Cr | 17.2% | 14.8% | 19.1% |
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 | 20.6% | 14.4% | 17.1% | +6.2% |
| 3 Years | 18.3% | 11.1% | 15.2% | +7.2% |
| 5 Years | 20.0% | 10.4% | 16.3% | +9.6% |
| 7 Years | 19.0% | 10.6% | 15.8% | +8.5% |
| 10 Years | 17.2% | 11.5% | 16.1% | +5.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 20.3% | 15.3% | -28.8% | 113.3% | 0.68 | 2.99 | 89% | — | — |
| 3 Years | 18.6% | 19.0% | -1.4% | 36.7% | 2.14 | 18.31 | 100% | — | — |
| 5 Years | 19.8% | 20.3% | 12.5% | 30.9% | 3.51 | — | 100% | — | — |
| 10 Years | 18.6% | 18.4% | 17.2% | 20.7% | 14.00 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +8.46 | 1.02 | 103.8% | 92.8% | 5.4% | -2.9% |
| 3 Years | +6.63 | 0.99 | 102.0% | 93.8% | 14.4% | 7.8% |
| 5 Years | +4.78 | 0.97 | 97.5% | 91.6% | 12.6% | 7.8% |
| 7 Years | +6.65 | 0.95 | 97.6% | 90.8% | 18.2% | 11.8% |
| 10 Years | +6.59 | 0.97 | 100.2% | 92.9% | 17.2% | 10.8% |
| 12 Years | +6.11 | 0.96 | 99.9% | 92.3% | 15.8% | 9.8% |
| 15 Years | +4.73 | 0.96 | 99.9% | 92.3% | 12.4% | 7.7% |