Top-performing tax-saving ELSS mutual funds in 10 years: As many as 11 tax-saving funds have given over 16% annualised returns in 10 years under their respective direct plans, according to data on the website of the Association of Mutual Funds in India (AMFI) at the time of writing (May 24, 2023). While the top-performing ELSS fund has given a return of over 22% under its direct plan in 10 years, 10 schemes have given over 16% returns in this duration.
The Mutual Fund SIP calculator shows that a monthly investment of Rs 5,000 in any of these funds would have grown to around Rs 15 lakh at 16% CAGR. The SIP returns from the top-performing scheme would have been around Rs 23 lakh in 10 years at 22.9% CAGR. Following is the list of 11 top-performing tax saving funds in 10 years
Quant Tax Plan
The direct plan of Quant Tax Plan has given a return of 22.90% while the regular plan has given a return of 21.87% in 10 years. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 14.08% in 10 years.
Bandhan Tax Advantage (ELSS) Fund
The direct plan of Bandhan Tax Advantage (ELSS) Fund has given a return of 18.39% while the regular plan has given a return of 17.04% in 10 years. The scheme tracks S&P BSE 500 Total Return Index, which has given a return of 14.29% in 10 years.
Also Read: Top Mid Cap Mutual Funds in 10 years: 11 schemes turn Rs 25,000 SIP into Rs 89 lakh to Rs 1 crore (May 2023)
Axis Long Term Equity Fund
The direct plan of Axis Long Term Equity Fund has given a return of 17.14% while the regular plan has given a return of 15.97% in 10 years. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 14.08% in 10 years.
Bank of India Tax Advantage Fund
The direct plan of Bank of India Tax Advantage Fund has given a return of 17.70% while the regular plan has given a return of 16.27% in 10 years. The scheme tracks S&P BSE 500 Total Return Index, which has given a return of 14.29% in 10 years.
Tata India Tax Savings Fund
The direct plan of Tata India Tax Savings Fund has given a return of 17.31% while the regular plan has given a return of 15.75% in 10 years. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 14.08% in 10 years.
DSP Tax Saver Fund
The direct plan of DSP Tax Saver Fund has given a return of 17.55% while the regular plan has given a return of 16.53% in 10 years. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 14.08% in 10 years.
JM Tax Gain Fund
The direct plan of JM Tax Gain Fund has given a return of 16.99% while the regular plan has given a return of 15.76% in 10 years. The scheme tracks S&P BSE 500 Total Return Index, which has given a return of 14.29% in 10 years.
Also Read: Best Large Cap Funds in 10 years: 11 schemes with 14% to 16.6% annual SIP returns (May 2023)
Canara Robeco Equity Tax Saver Fund
The direct plan of Canara Robeco Equity Tax Saver Fund has given a return of 16.25% while the regular plan has given a return of 15.26% in 10 years. The scheme tracks S&P BSE 500 Total Return Index, which has given a return of 14.29% in 10 years.
ICICI Prudential Long Term Equity Fund (Tax Saving)
The direct plan of ICICI Prudential Long Term Equity Fund (Tax Saving) has given a return of 16.20% while the regular plan has given a return of 15.19% in 10 years. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 14.08% in 10 years.
Invesco India Tax Plan Fund
The direct plan of Invesco India Tax Plan Fund has given a return of 16.88% while the regular plan has given a return of 15.27% in 10 years. The scheme tracks S&P BSE 500 Total Return Index, which has given a return of 14.29% in 10 years.
Kotak Tax Saver Fund
The direct plan of Kotak Tax Saver Fund has given a return of 16.66% while the regular plan has given a return of 15.29% in 10 years. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 14.08% in 10 years.
(Disclaimer: The above content is for information purposes only based on AMFI website data as of May 23, 2023. Mutual Funds are subject to market risks. There is no assurance or guarantee that the above funds will give the same returns in future. Investors are advised to consult their financial advisors before investing)
