SBI ELSS Tax Saver Fund
Direct · GrowthAI Summary
SBI ELSS Tax Saver Fund has delivered 3Y SIP XIRR of 19.68% and 5Y of 18.72%, ahead of the category averages of 15.49% and 16.8% respectively. Over longer horizons too, the fund's 10Y XIRR of 17.53% and 12Y XIRR of 16.85% exceed category averages of 15.82% and 15.16%. On a lump-sum basis, it has also beaten the NIFTY 50 across periods, with 3Y alpha of 6.82% and 5Y alpha of 7.53%, though 1Y alpha is a modest 0.67%.
The fund shows defensive behavior with beta around 0.87-0.92 versus the NIFTY 50, downside capture of 83-89% versus upside capture of 91-94%, meaning it loses less in corrections while keeping most of the upside. It has weathered 7 drawdown events exceeding 10%, with the maximum drawdown lasting 790 days and taking 239 days to recover, which is notable for a long-horizon investor to be aware of. Calmar ratios holding near 0.41-0.48 across horizons indicate reasonable risk-adjusted returns, supported by consistent positive alpha over 3Y to 15Y.
The portfolio is diversified across 87 stocks, with the top three holdings all banks — Kotak Mahindra Bank (6.76%), ICICI Bank (6.45%) and HDFC Bank (5.92%) — reflecting a strong financial-sector tilt. Banks plus Finance account for about 32% of the portfolio, so performance is meaningfully linked to financial-sector trends. Other positions such as Reliance Industries (4.65%), Adani Enterprises (2.93%) and L&T (2.84%) add breadth across energy, metals and infrastructure.
Against category SIP XIRR averages, the fund leads at every horizon shown, including 19.68% vs 15.49% over 3Y and 17.53% vs 15.82% over 10Y. Its consistent positive alpha over 3Y, 5Y, 7Y, 10Y, 12Y and 15Y periods suggests genuine stock-selection skill rather than a single-period fluke. Calendar year returns show breadth too, including 40.01% in 2023 and 31.05% in 2021, though 2025's 7.18% and 2026's -10.24% show weaker recent form.
This fund suits investors seeking equity exposure combined with Section 80C tax benefits under the ELSS structure, which also enforces a 3-year lock-in per SIP installment. It is best held for 7-10 years or longer, given strong long-term XIRR and the drawdown episodes that require patience through multi-year recovery periods. Investors should be comfortable with the financial-sector concentration and moderate volatility in exchange for consistent benchmark-beating returns.
- SIP XIRR beats category averages at every horizon, including 19.68% vs 15.49% over 3Y and 16.85% vs 15.16% over 12Y
- Consistently positive alpha versus NIFTY 50 across 3Y to 15Y (e.g., 6.82% over 3Y and 7.53% over 5Y) with better downside capture (83-88%) than upside capture
- Well-diversified 87-stock portfolio with a low expense ratio of 0.99% for the Direct option
- Heavy financial-sector concentration, with Banks (23.4%) plus Finance (8.6%) making up roughly a third of the portfolio
- Weaker recent momentum, with calendar returns of 7.18% in 2025 and -10.24% in 2026, and a modest 1Y alpha of 0.67%
Generated on 03-11-2026, 4:36 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 | ₹12.75 L | 19.2% | -57.1% | 89.1% |
| 3 Years | ₹36.00 L | ₹45.16 L | 16.1% | -23.4% | 42.2% |
| 5 Years | ₹60.00 L | ₹88.56 L | 16.1% | -10.9% | 34.8% |
| 7 Years | ₹84.00 L | ₹1.46 Cr | 16.4% | -3.2% | 27.5% |
| 10 Years | ₹1.20 Cr | ₹3.07 Cr | 17.5% | 12.6% | 21.7% |
| 12 Years | ₹1.44 Cr | ₹4.34 Cr | 16.9% | 13.9% | 19.5% |
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 | 19.2% | 14.3% | 9.7% | +4.9% |
| 3 Years | 16.1% | 11.0% | 15.5% | +5.1% |
| 5 Years | 16.1% | 10.4% | 16.8% | +5.7% |
| 7 Years | 16.4% | 10.6% | 15.3% | +5.9% |
| 10 Years | 17.5% | 11.4% | 15.8% | +6.0% |
| 12 Years | 16.9% | 11.3% | 15.2% | +5.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 18.5% | 10.8% | -33.1% | 94.6% | 0.54 | 1.89 | 83% | — | — |
| 3 Years | 16.6% | 17.5% | -8.2% | 35.7% | 1.18 | 5.07 | 97% | — | — |
| 5 Years | 15.6% | 14.8% | -3.1% | 34.9% | 1.28 | 8.03 | 99% | — | — |
| 10 Years | 15.8% | 15.6% | 13.2% | 18.8% | 7.27 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | -0.07 | 0.92 | 90.7% | 89.7% | -6.5% | -7.6% |
| 3 Years | +6.25 | 0.92 | 94.5% | 86.0% | 13.6% | 7.4% |
| 5 Years | +7.36 | 0.90 | 93.7% | 84.3% | 13.4% | 6.0% |
| 7 Years | +7.27 | 0.86 | 91.1% | 83.2% | 17.1% | 10.4% |
| 10 Years | +3.77 | 0.89 | 92.9% | 88.5% | 14.2% | 10.9% |
| 12 Years | +4.06 | 0.89 | 93.3% | 88.4% | 12.9% | 9.2% |
| 15 Years | +4.21 | 0.89 | 93.3% | 87.8% | 13.5% | 9.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Kotak Mahindra Bank Ltd. | 6.76% |
| 2 | ICICI Bank Ltd. | 6.45% |
| 3 | HDFC Bank Ltd. | 5.92% |
| 4 | Reliance Industries Ltd. | 4.65% |
| 5 | Adani Enterprises Ltd. | 2.93% |
| 6 | Larsen & Toubro Ltd. | 2.84% |
| 7 | Bajaj Finance Ltd. | 2.65% |
| 8 | Torrent Power Ltd. | 2.33% |
| 9 | Cipla Ltd. | 2.13% |
| 10 | Tech Mahindra Ltd. | 1.92% |