NAVI ELSS Tax Saver Nifty 50 Index Fund
Direct · GrowthAI Summary
The fund's 1-year XIRR of 10.34% and 3-year XIRR of 4.39% are significantly below the category averages of 17.08% and 15.16%, respectively. Over the long term, the fund has consistently outperformed the Nifty 50 benchmark, with a 3-year fund CAGR of 8.72% versus 7.75% for the benchmark, and positive alpha across all periods. However, recent calendar year returns show volatility, with a -6.93% return in 2026 after a strong 27.93% in 2023.
The fund exhibits low drawdown risk, with a maximum drawdown of only -15.48% and an average drawdown of -4.09%, indicating relatively shallow declines. The Calmar ratios of 0.73 (1Y) and 0.63 (3Y) suggest moderate risk-adjusted returns, though the 1-year ratio is lower than the 3-year, reflecting recent underperformance. The fund's beta is near 1.00, confirming it moves in line with the market, and its downside capture is slightly below 100%, offering marginal downside protection.
As an index fund tracking the Nifty 50, the portfolio is concentrated in the top 50 large-cap Indian companies, providing broad diversification across sectors but with inherent concentration in heavyweight stocks. The fund's low expense ratio of 0.21% is a key advantage, as it minimizes the cost drag on returns. No specific top holdings or sector weights are provided, but the index composition typically includes financials, IT, energy, and consumer staples.
The fund significantly lags its ELSS category peers, with 1-year and 3-year XIRRs that are roughly 6-10 percentage points below the category averages. This underperformance is consistent across all time horizons, as the category averages for 5Y, 7Y, 10Y, 12Y, and 15Y are all above 14%, while the fund's long-term CAGRs are below 9%. The fund's performance is more aligned with the Nifty 50 index, which has historically underperformed more actively managed ELSS funds in the category.
This fund is suitable for investors seeking a low-cost, passive investment in large-cap Indian equities with tax benefits under Section 80C, given its ELSS status. It is best for those with a long-term horizon (7+ years) who are comfortable with market volatility and do not expect to outperform the index. Investors with a lower risk tolerance may find the fund's drawdowns manageable, but those seeking higher returns may prefer actively managed ELSS funds with a stronger track record.
- Very low expense ratio of 0.21%, which is among the lowest in the ELSS category, enhancing net returns over time.
- Consistent positive alpha over the benchmark across all time periods, indicating efficient index tracking and minimal tracking error.
- Lower downside capture (99.05% to 99.41%) compared to upside capture (100.45% to 100.53%), suggesting slight downside protection relative to the benchmark.
- Significant underperformance versus the ELSS category average, with 1-year and 3-year XIRRs of 10.34% and 4.39% versus category averages of 17.08% and 15.16%, respectively.
- High volatility in calendar year returns, including a -6.93% return in 2026, which may be unsettling for investors with shorter time horizons.
Generated on 30-08-2026, 3:04 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 | ₹12.52 L | 10.3% | -21.1% | 40.9% |
| 3 Years | ₹36.00 L | ₹37.95 L | 4.4% | -0.2% | 11.4% |
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 | 10.3% | 14.4% | 17.1% | -4.1% |
| 3 Years | 4.4% | 11.1% | 15.2% | -6.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 11.3% | 9.0% | -7.1% | 34.4% | 0.43 | 1.13 | 84% | — | — |
| 3 Years | 9.7% | 9.5% | 7.5% | 12.7% | 2.48 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +0.83 | 1.00 | 100.5% | 99.4% | -2.1% | -2.9% |
| 3 Years | +0.97 | 1.00 | 100.5% | 99.2% | 8.7% | 7.8% |
| 5 Years | +0.71 | 1.00 | 100.5% | 99.0% | 7.8% | 7.1% |
| 7 Years | +0.50 | 1.00 | 100.5% | 99.0% | 5.5% | 5.0% |
| 10 Years | +0.34 | 1.00 | 100.5% | 99.0% | 3.8% | 3.5% |
| 12 Years | +0.28 | 1.00 | 100.5% | 99.0% | 3.2% | 2.9% |
| 15 Years | +0.22 | 1.00 | 100.5% | 99.0% | 2.5% | 2.3% |