JM ELSS - Tax Saver Fund
JM Financial Mutual Fund · Best ELSS (Tax Saving) Mutual Funds
This is the Direct plan of JM ELSS - Tax Saver Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
Performance
Scorecard
★★★☆☆3/5 vs 49 ELSS peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within ELSS (same plan and option).
3Y CAGR +15.23% · ranks 4 of 49 ELSS funds
Volatility 16.2% vs 14.7% category avg
1.3% expense vs 1.1% category avg
99% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Ahead of the ELSS average on 1M/3M/6M/1Y — 1Y by 6.56pp
- 3-year return (+15.23%) beats the ELSS average (+10.50%)
- 5-year return (+13.25%) beats the ELSS average (+10.96%)
- Ranks #8 of 50 on 1-year return in its ELSS cohort
- Stronger risk-adjusted returns — Sharpe 0.54 vs 0.26 ELSS average
Concerns
- More volatile than its ELSS peers (16.2% vs 14.7%)
- High expense ratio (1.34%) vs the ELSS average of 1.13%
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (ELSS)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -4.23% | -5.31% | +1.08% |
| 3M abs | +0.87% | -3.53% | +4.40% |
| 6M abs | +17.75% | +8.43% | +9.32% |
| 1Y CAGR | +5.27% | -1.29% | +6.56% |
| 3Y CAGR | +15.23% | +10.50% | +4.73% |
| 5Y CAGR | +13.25% | +10.96% | +2.29% |
Category average across peers in ELSS (up to 49 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 49 peers in ELSS
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into JM ELSS - Tax Saver Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | Nifty 500 TRI | Diff | |
|---|---|---|---|---|
| 2026part | +1.54% | -7.18% | +8.72% | |
| 2025 | +3.83% | +7.94% | -4.11% | |
| 2024 | +30.64% | +16.43% | +14.21% | |
| 2023 | +32.19% | +27.43% | +4.76% | |
| 2022 | +1.47% | +4.34% | -2.87% | |
| 2021 | +33.15% | +31.59% | +1.56% | |
| 2020 | +19.16% | +18.33% | +0.83% | |
| 2019 | +15.80% | +8.95% | +6.85% | |
| 2018 | -3.85% | -2.33% | -1.52% | |
| 2017 | +44.14% | +37.35% | +6.79% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity98.68%
- Cash & Equivalents1.32%
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹220.95Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
JM Financial Mutual Fund is the asset management arm of the JM Financial group and is one of India's oldest private fund houses, launched in 1994 when the industry first opened to private managers.
Fund Managers
RFRuchi FozdarStart date not disclosed
Fund Manager Debt
BSC- Organic PGDBM Finance
Ms. Ruchi Fozdar has 12 years of rich experience in fixed income market with 7 years of asset management experience. JM Short Duration Fund; Prior to JM Financial Mutual Fund, she was associated with institutions like Reliance Nippon Life Insurance Co. Ltd. and Mahindra Manulife Mutual Fund.
DGDeepak GuptaStart date not disclosed
Head of Research & Senior Fund Manager Equity
Chartered Accountant and Masters of Commerce from Mumbai University
Mr. Gupta is a Chartered Account. Prior to Fund Manager: joining the AMC, he was associated with SBI Pension Funds Private Limited, Reliance Nippon Life Insurance and Access Asset Managers Private Limited.
SRSatish RamanathanStart date not disclosed
Chief Investment Officer- Equity
32 years
CFA
Mr. Ramanathan brings with him rich and varied experience of around 3 decades and joins the AMC from Tattva Capital which was his entrepreneurial endeavor. He started his career with TATA Economic Consultancy Services in 1992 and has subsequently worked with ICICI Securities, Franklin Templeton AMC and Sundaram AMC. research and fund management. His last assignment was as Fund Manager with Lotus India Asset Management Company Pvt. Ltd. Prior to that, for more than 2 years, he was with SBI Funds Management Pvt. Ltd. As a Junior Fund Manager. He started his career on the broking side as an equity analyst and has worked with firms like Jet Age Securities and Sushil Finance Consultants for almost
ABAsit BhandarkarStart date not disclosed
Senior Fund Manager - Equity
B.Com., MMS B-Tech, MBA
He has 23 years of experience in equity research and fund management. His last assignment was as Fund Manager with Lotus India Asset Management Company Pvt. Ltd. Prior to that, for more than 2 years, he was with SBI Funds Management Pvt. Ltd. As a Junior Fund Manager. He started his career on the broking side as an equity analyst and has worked with firms like Jet Age Securities and Sushil Finance Consultants for almost 2 years. Mr. Ramanathan brings with him rich and
Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About ELSS (tax-saving) funds
ELSS funds are equity funds that qualify for a Section 80C deduction (up to ₹1.5 lakh a year) under the old tax regime. They carry a 3-year lock-in — the shortest of any 80C option.
From the blog
Frequently asked questions
What is the NAV of JM ELSS - Tax Saver Fund?
As of 01 Oct 2026, the NAV of JM ELSS - Tax Saver Fund is ₹58.46 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has JM ELSS - Tax Saver Fund delivered?
JM ELSS - Tax Saver Fund has returned +5.27% over 1 year, +15.23% per year over 3 years, +13.25% per year over 5 years and +16.43% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of JM ELSS - Tax Saver Fund?
JM ELSS - Tax Saver Fund charges an expense ratio of 1.34% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of JM ELSS - Tax Saver Fund?
JM ELSS - Tax Saver Fund's largest holdings are One 97 Communications Limited (3.3%), SYRMA SGS TECHNOLOGY LIMITED (2.9%), ICICI Bank Limited (2.8%), HDFC Bank Limited (2.8%) and Karur Vysya Bank Limited (2.8%). Holdings are disclosed monthly and change over time.
How risky is JM ELSS - Tax Saver Fund?
JM ELSS - Tax Saver Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.2% and its worst peak-to-trough fall in our sample was -37.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.54 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. JM ELSS - Tax Saver Fund's 0.54 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of JM ELSS - Tax Saver Fund?
JM ELSS - Tax Saver Fund is benchmarked against the BSE 500 TRI. Its alpha and beta on this page are measured against that index.
Who manages JM ELSS - Tax Saver Fund?
JM ELSS - Tax Saver Fund is managed by Ruchi Fozdar, Deepak Gupta, Satish Ramanathan and Asit Bhandarkar at JM Financial.
How is JM ELSS - Tax Saver Fund taxed?
JM ELSS - Tax Saver Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.