4 Tax Saver Mutual Funds (ELSS) Ranked No 1 By CRISIL

As the Financial Year 2022-23 is close to its end, March 31. As a result, making a tax-saving investment for the fiscal year 2022-23 is getting major traction. Many taxpayers are looking for top tax-saving mutual fund options, as it offers small savings with tax-saving options. ELSS or Equity Linked Savings Scheme is a good place to invest as a tax-savvy investor. Taxpayers who invest in ELSS can claim a deduction of up to Rs 1.5 lakh per year. Several ELSS funds have delivered double-digit returns over the last five years. Here we have listed 4 ELSS funds that are ranked No. 1 By the rating agency CRISIL.

These are 4 funds withAnnualised Return in 5 years (in %)

ELSS Funds	3 Months	6 Months	1 year	3 Year	5 Year
Quant Tax Plan	-13.38	-11.13	7.75	44.93	21.87
Parag Parikh Tax Saver Fund	-3.22	-0.95	9.88	28.79	NA
Bandhan Tax Advantage (ELSS) Fund	-3.41	-3.65	4.6	29.8	12.54
HDFC Taxsaver Fund	-6.44	-2.19	11.82	25.19	9.48

Please Note - The returns are considere under the "Growth-Direct Plan" of the Funds. Returns are taken from Value Research

Quant Tax Plan

This ELSS fund has delivered the highest annualised return in 3 years among its peer funds. The fund has 98.45% holdings in equity and 1.56% in cash and cash equivalent instruments. In terms of sector-wise holdings, the top 5 sectors are Financial Sectors (20.97%), Energy (17.73%), Consumer Staples (16.13%), Construction (9.74%), and Technology (7.39%). Its top 5 holdings include ITC (9.68%), Reliance (9.01%), HDFC Bank (8.99%), SBI (6.57%) and Larsen & Toubro (5.51%). It is a very high-risk fund to invest.

Parag Parikh Tax Saver Fund

This ELSS fund is rated highly risky and ranked 1 by CRISIL. The fund has 80.89% holdings in equity, 19.28% in debt and the remaining 0.17% in cash and equivalent instruments. In terms of major investments in the sector, the fund's top 5 investments include Financial (29.56%), Technologies (14.86%), Automobile (10.07%), Consumer Staples (6.08%) and energy sector (5.06%). The fund's top 5 stock holdings includes Housing Development Finance (7.81%), Bajaj Holdings & Investment (7.22%), ICICI Bank (6.02%), Axis Bank (5.91%), and ITC (5.24%). These holdings are as on 28 February 2023. The fund has delivered the highest return in 3 years, around 28.89%.

Bandhan Tax Advantage (ELSS) Fund

This ELSS fund, formally known as IDFC Tax Advantage (ELSS) Fund, is among the best-rated tax saver by the CRISIL. It is also a highly risky fund to invest in. It has 93.36% holding in Equity, followed by 0.04% in debt and 6.6% in cash and cash equivalent instruments. The fund's major investments are in Financial sector, (24.82%), Automobile sector (10.57%), Technology sector (9.97%), Materials sector (6.51%), and Healthcare sector (6.1%). Whereas, the top holding in stocks includes ICICI Bank (8.07%), Infosys (4.99%), State Bank Of India (4.55%), HDFC Bank (4.17%), and Reliance (3.36%). The fund has delivered the highest return of 29.80% in 3 years.

HDFC Taxsaver Fund

This ELSS fund comes from the house of HDFC Mutual Fund which offers various other mutual funds. This tax Saver fund is among the top-ranked fund by CRISIL. The fund has 94.83% holding in equity and 5.17% in cash and cash equivalent instruments. It has no holdings in debt instruments. The mentioned data are as on 28 February 2023. The fund's top holdings are in these 5 sectors, which include Financial (31.15), Technology (12.20%) Energy Automobile (12.05%), and Healthcare (5.58%). Its top holdings in terms of stocks include ICICI Bank (9.41%) HDFC Bank (9.38%) Bharti Airtel (5.73%) Infosys (5.51%), and State Bank Of India (5.38%). It has given the highest return in 3 years, around 25.82%.

Disclaimer

Mutual fund investments are subject to market risk. Read all scheme-related Terms and Conditions carefully before investing. The above-mentioned information is purely informational and doesn't guarantee any return. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.