Best ELSS Funds in India 2026
A detailed comparison of India's top-performing ELSS (Equity Linked Savings Scheme) mutual funds — your Section 80C tax-saving investment option with the shortest lock-in period.
ELSS Tax Benefits at a Glance
Section 80C Deduction
Up to ₹1.5 lakh/year
Investment in ELSS qualifies for deduction under Section 80C of the Income Tax Act.
Lock-in Period
3 years ( shortest )
ELSS has the shortest lock-in among all 80C options — PPF lock-in is 15 years, NSC is 5 years.
LTCG Tax
12.5% above ₹1.25L
Gains above ₹1.25 lakh per year are taxed at 12.5%. Below that threshold, gains are tax-free.
Top 5 ELSS Funds Comparison
| Fund Name | AUM (Cr) | 1Y | 3Y | 5Y | Expense Ratio | Lock-in |
|---|---|---|---|---|---|---|
| Mirae Asset Tax Saver Fund | ₹15,300+ | 23.4% | 16.8% | 18.5% | 0.56-0.72% | 3 years |
| Quant Tax Plan | ₹8,600+ | 28.7% | 18.5% | 20.2% | 0.54-0.68% | 3 years |
| Canara Robeco Equity Tax Saver | ₹14,200 | 20.8% | 17.5% | 19.9% | 0.48% | 3 years |
| Axis Long Term Equity Fund | ₹22,600 | 19.5% | 16.2% | 18.4% | 0.52% | 3 years |
| HDFC Tax Saver Fund | ₹12,900 | 21.2% | 17.8% | 20.1% | 0.76% | 3 years |
Returns as of August 2026. AUM figures are approximate. Past performance is not indicative of future results.
Mirae Asset Tax Saver Fund
One of the most consistent ELSS funds with a strong long-term track record. The fund follows a multi-cap approach within the ELSS mandate, holding across large, mid, and small cap stocks. Known for its quality-growth investing style and disciplined stock selection.
Best for: Investors who want a well-diversified ELSS with consistent performance across market cycles and are comfortable with a slightly higher expense ratio.
Quant Tax Plan
The highest return generator in this comparison, but also the most volatile. Quant follows a tactical, momentum-driven approach with frequent portfolio changes. The fund has delivered exceptional returns but with higher drawdowns during market corrections.
Best for: Aggressive investors who want maximum tax-saving returns and can tolerate higher volatility. Not ideal for conservative investors.
Canara Robeco Equity Tax Saver
The lowest expense ratio in this comparison combined with consistent returns. The fund follows a balanced approach and has been among the most consistent performers in the ELSS category. A solid choice for cost-conscious investors.
Best for: Cost-conscious long-term investors who want a well-managed ELSS fund with the lowest ongoing charges.
Axis Long Term Equity Fund
A well-known ELSS fund with a quality-growth investing style similar to other Axis funds. The fund maintains a concentrated portfolio of high-conviction bets and has delivered steady returns with moderate volatility. One of the largest ELSS funds by AUM.
Best for: Investors who prefer a quality-focused, concentrated ELSS portfolio from a well-established fund house.
HDFC Tax Saver Fund
One of the oldest ELSS funds with a track record spanning over two decades. The fund has undergone style changes over the years but has maintained solid long-term performance. The higher expense ratio reflects its larger legacy operations.
Best for: Investors who value a long track record and the backing of India's largest fund house, and don't mind paying a slightly higher expense ratio.
ELSS vs Other Section 80C Options
| Option | Lock-in | Returns | Risk |
|---|---|---|---|
| ELSS | 3 years | 12-18% (equity-linked) | Moderate to High |
| PPF | 15 years | ~7.1% (guaranteed) | Risk-free |
| NSC | 5 years | ~7.7% (guaranteed) | Risk-free |
| NPS | Until 60 | 10-12% (market-linked) | Moderate |
Our Verdict
For most investors seeking tax-saving under Section 80C, Mirae Asset Tax Saver offers the best balance of consistent performance, large AUM, and reasonable expense ratio. It's a reliable choice for first-time ELSS investors.
If you're comfortable with higher volatility and a quantitative approach, Quant Tax Plan has delivered exceptional returns through its momentum-driven strategy — but be prepared for sharper swings.
For conservative investors who want stability, Axis Long Term Equity and HDFC Tax Saver are solid choices with experienced management teams.
Remember: all ELSS funds have a mandatory 3-year lock-in. Choose based on your risk tolerance, not just past returns. Use our SIP calculator to model how any of these funds would have performed over your specific time period.
Last updated: August 2026
Disclaimer
Mutual fund investments are subject to market risks. Past performance is not indicative of future returns.Please read all scheme-related documents carefully before investing. The information on this page is for informational and educational purposes only and does not constitute financial advice or a recommendation. Returns shown are purely illustrative of past performance and may contain inaccuracies. Tax benefits are subject to current tax laws and may change. Investors should invest according to their risk appetite, investment horizon, and financial goals. Consult a SEBI-registered investment advisor and tax consultant before making any investment decisions.