NJ ELSS Tax Saver Fund
Direct · GrowthAI Summary
NJ ELSS Tax Saver Fund has significantly underperformed its category, with SIP XIRR of 3.37% over 1Y and 2.71% over 3Y versus category averages of 9.55% and 14.53% respectively. Lump-sum calendar year returns show a sharp deterioration, from 30.24% in 2023 and 16.22% in 2024 to consecutive declines of -3.42% in 2025 and -2.59% in 2026. The 3Y rolling return mean of 11.03% suggests the fund has historically delivered reasonable lump-sum returns over longer windows, though recent calendar-year performance remains negative.
The fund exhibits modest drawdown characteristics, with a maximum drawdown of just -0.23% persisting for 159 days without full recovery to date. The Calmar ratios of 0.38 (1Y) and 0.48 (3Y) indicate weak risk-adjusted returns relative to the drawdown experienced, consistent with the muted return environment. Only one drawdown event above 10% has occurred, suggesting limited severe downside historically despite the current recovery remaining incomplete.
The portfolio is concentrated with only 25 total holdings, and the top 10 positions account for roughly 52.5% of NAV, led by Bosch (6.55%), Pidilite (5.33%), and JSW Dulux (5.22%). Holdings are quality consumer and industrial-focused names like Hero MotoCorp, Marico, and Page Industries rather than typical large-cap index heavyweights. Sector-wise, Pharmaceuticals & Biotechnology (14.7%) and Finance (12.5%) lead, showing moderate concentration with meaningful healthcare exposure that is not visible among the top 10 individual names.
The fund trails the ELSS category substantially on SIP XIRR, lagging the 1Y category average by about 6.2 percentage points and the 3Y average by a wide 11.8 percentage points. Consecutive negative calendar years in 2025 and 2026 indicate a lack of consistency relative to peers over the recent period. As a newer or smaller offering, it lacks a 5Y+ XIRR track record in the data, making long-term positioning versus category peers difficult to assess.
This fund suits investors with a high risk tolerance who prioritize the Section 80C tax benefit and can tolerate multi-year underperformance versus category peers. Given the ELSS lock-in of 3 years and the recent weak stretch, investors should have a horizon of at least 5-7 years and be comfortable that the drawdown recovery is still in progress. Conservative investors seeking consistent category-level returns may want to await evidence of a turnaround before committing.
- Low expense ratio of 0.66% for a Direct ELSS plan keeps costs competitive for tax-saving investors
- 3Y rolling lump-sum return mean of 11.03% indicates reasonable returns over longer holding windows
- Limited severe downside history with only one drawdown event exceeding 10%
- SIP XIRR of 2.71% over 3Y trails the category average of 14.53% by roughly 11.8 percentage points
- Consecutive negative calendar years in 2025 (-3.42%) and 2026 (-2.59%) with max drawdown recovery still incomplete after 159 days
Generated on 07-11-2026, 3:17 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 | ₹12.19 L | 7.8% | -25.9% | 57.1% |
| 3 Years | ₹36.00 L | ₹37.72 L | 2.5% | -3.5% | 5.7% |
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 | 7.8% | 9.5% |
| 3 Years | 2.5% | 14.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 8.7% | 0.9% | -11.7% | 53.4% | 0.12 | 0.29 | 55% | — | — |
| 3 Years | 10.8% | 11.8% | 7.6% | 13.9% | 2.16 | — | 100% | — | — |
Calmar Ratio by Duration
| # | Stock | % of NAV |
|---|---|---|
| 1 | Bosch Limited | 6.78% |
| 2 | Mphasis Limited | 5.74% |
| 3 | Pidilite Industries Limited | 5.49% |
| 4 | Marico Limited | 5.34% |
| 5 | Hero MotoCorp Limited | 5.24% |
| 6 | The Great Eastern Shipping Company Limited | 5.23% |
| 7 | Page Industries Limited | 4.85% |
| 8 | JSW Dulux Limited | 4.63% |
| 9 | ABB India Limited | 4.59% |
| 10 | AU Small Finance Bank Limited | 4.29% |