JM ELSS - Tax Saver Fund vs HSBC ELSS Tax saver Fund
JM ELSS - Tax Saver Fund (Direct) and HSBC ELSS Tax saver Fund (Direct) head to head: growth of ₹100, returns across every window, risk, cost, and portfolio overlap — every figure computed from AMFI NAV history, nothing supplied by a fund house. Both are ELSS schemes — see the best elss (tax saving) mutual funds for the full ranking.
Head to head
NAVs as of 12 Oct 2026
Growth of ₹100 (rebased over the selected window)
Common period 28 Nov 2022 – 12 Oct 2026, limited by HSBC ELSS Tax saver Fund. Every series is rebased to ₹100 at the start of this window. Benchmark lines are the category index WealthTicker measures against, which is not always the benchmark the scheme itself declares — the fund page’s Scheme Info names that one.
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| Date | JM ELSS - Tax Saver Fund | HSBC ELSS Tax saver Fund | Nifty 500 TRI |
|---|---|---|---|
| 28 Nov 2022 | ₹100.00 | ₹100.00 | ₹100.00 |
| 26 Mar 2023 | ₹93.65 | ₹93.39 | ₹90.85 |
| 22 Jul 2023 | ₹112.88 | ₹110.13 | ₹108.04 |
| 17 Nov 2023 | ₹120.82 | ₹116.84 | ₹112.96 |
| 13 Mar 2024 | ₹132.53 | ₹127.94 | ₹126.55 |
| 09 Jul 2024 | ₹172.75 | ₹163.80 | ₹149.10 |
| 04 Nov 2024 | ₹171.15 | ₹163.77 | ₹146.05 |
| 02 Mar 2025 | ₹146.19 | ₹142.19 | ₹129.43 |
| 28 Jun 2025 | ₹171.48 | ₹171.21 | ₹154.35 |
| 24 Oct 2025 | ₹176.18 | ₹173.02 | ₹155.38 |
| 18 Feb 2026 | ₹171.77 | ₹172.71 | ₹155.69 |
| 16 Jun 2026 | ₹174.28 | ₹173.97 | ₹151.98 |
| 12 Oct 2026 | ₹179.92 | ₹172.58 | ₹144.70 |
Portfolio overlap (same stocks held through more than one fund)
Some overlap is structural: SEBI defines large cap as the top 100 stocks by market capitalisation, so two large-cap funds are fishing the same pond by regulation. The bands below are measured per sleeve pairing rather than against one blanket threshold. How this is measured →
- 39 stocks only in JM ELSS - Tax Saver Fund
- 14 stocks in both — 26.7% of each portfolio by weight
- 65 stocks only in HSBC ELSS Tax saver Fund
The more the circles overlap, the more the funds hold the same stocks.
JM ELSS - Tax Saver Fund and HSBC ELSS Tax saver Fund share 27% of their equity book by weight.
Shared holdings — JM ELSS - Tax Saver Fund vs HSBC ELSS Tax saver Fund
| Stock | JM ELSS - Tax Saver Fund | HSBC ELSS Tax saver Fund | |
|---|---|---|---|
| HDFC Bank Limited | 2.94% | 3.20% | 2.94% |
| ICICI Bank Limited | 2.70% | 4.04% | 2.70% |
| Reliance Industries Limited | 2.67% | 2.92% | 2.67% |
| Karur Vysya Bank Limited | 2.72% | 2.17% | 2.17% |
| Eternal Limited | 2.10% | 2.48% | 2.10% |
| Bharti Airtel Limited | 2.44% | 2.04% | 2.04% |
| State Bank of India | 2.03% | 1.93% | 1.93% |
| Jindal Steel Limited | 1.91% | 1.85% | 1.85% |
| Larsen & Toubro Limited | 1.77% | 2.27% | 1.77% |
| Shriram Finance Limited | 1.71% | 2.44% | 1.71% |
| PNB Housing Finance Limited | 1.71% | 2.00% | 1.71% |
| PERSISTENT SYSTEMS LTD | 1.56% | 1.21% | 1.21% |
| Tech Mahindra Limited | 1.73% | 1.06% | 1.06% |
| Mahindra & Mahindra Limited | 1.65% | 0.84% | 0.84% |
14 shared of 53 / 79 positions. Weights are shown as a share of each fund's equity book.
| Metric | JM Financial · Direct NAV ₹58.64 Very High risk ★★★☆☆ | HSBC · Direct NAV ₹149.83 Very High risk ★★★★☆ | Category median ELSS · 50 funds |
|---|---|---|---|
| +3.03%Best in row | +0.30% | -3.58% | |
| +14.86%Best in row | +14.67% | +9.64% | |
| +12.44% | — | +10.04% | |
| +15.44% | — | +12.65% | |
| +16.42% | +15.14% | +14.13% | |
| +13.78%Best in row | +10.99% | — | |
| +17.94% | +18.22%Best in row | +16.98% | |
| +17.37% | — | +17.09% | |
| +17.58% | — | +15.33% | |
| Risk | |||
| 16.24%Best in row | 16.72% | 14.41% | |
| 0.51 | 0.49 | 0.21 | |
| 0.69 | 0.66 | 0.29 | |
| -37.39% | -19.21% | -36.01% | |
| +5.54%Best in row | +4.94% | +0.95% | |
| 118.5% | 120.1%Best in row | 100.1% | |
| 95.3%Best in row | 101.3% | 95.0% | |
| 1.34% | 1.21%Best in row | 1.07% | |
| ₹243.19Cr | ₹4,126Cr | ₹859.27Cr | |
| ₹1.00K | ₹500 | — | |
| 61% | 15% | 35% | |
| Ruchi Fozdar | Sonal Gupta · 5.3y | — | |
| 02 Jan 2013 | 28 Nov 2022 | — | |
| 53 | 79 | — | |
| 26.6% | 28.3% | — | |
| 1.1% | 1.8% | — | |
5 rows carry the same value for every fund — show
- Benchmark
- Nifty 500 TRI
- Beta
- 1.02
- Exit load
- None
- Lock-in
- 3 years
- Min lumpsum
- ₹500
Best marks the strongest value in a row, and only where the gap is bigger than noise — a near-tie is left unmarked rather than dressed up as a result. SIP XIRR is a ₹10,000/month instalment over 5 years of real NAV history. Nothing here is supplied by a fund house. For research only — not investment advice.
Frequently asked questions
Which fund has delivered higher returns — JM ELSS - Tax Saver Fund or HSBC ELSS Tax saver Fund?
Over the last 3 years, JM ELSS - Tax Saver Fund returned +14.86% CAGR against HSBC ELSS Tax saver Fund's +14.67%, computed from AMFI NAV history. Past returns don't guarantee future performance.
Which fund is cheaper — JM ELSS - Tax Saver Fund or HSBC ELSS Tax saver Fund?
HSBC ELSS Tax saver Fund has the lower expense ratio: JM ELSS - Tax Saver Fund charges 1.34% a year against HSBC ELSS Tax saver Fund's 1.21%. The expense ratio is deducted from the NAV daily, so a lower one compounds in the investor's favour.
Which fund is riskier — JM ELSS - Tax Saver Fund or HSBC ELSS Tax saver Fund?
HSBC ELSS Tax saver Fund has shown higher volatility (+16.72% annualized vs JM ELSS - Tax Saver Fund's +16.24%), measured as the annualized standard deviation of daily returns over the trailing 3 years. Worst 3-year drawdown: JM ELSS - Tax Saver Fund -20.85% vs HSBC ELSS Tax saver Fund -19.21%.
Which fund manages more money — JM ELSS - Tax Saver Fund or HSBC ELSS Tax saver Fund?
HSBC ELSS Tax saver Fund is the larger fund: JM ELSS - Tax Saver Fund manages ₹243.19Cr against HSBC ELSS Tax saver Fund's ₹4,126Cr in assets. Size cuts both ways — scale lowers costs, but a very large fund can find it harder to move in and out of positions.
Are JM ELSS - Tax Saver Fund and HSBC ELSS Tax saver Fund in the same category?
Yes — both are ELSS schemes, so their returns, risk and cost are directly comparable against the same peer set.
Figures update daily from AMFI NAV history; ratings and ranks are WealthTicker’s own — see the methodology. This is data, not investment advice.