Axis ELSS- Tax Saver Fund vs Sundaram Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Axis ELSS- Tax Saver Fund is an ELSS fund and Sundaram Multi Asset Allocation Fund is a Multi Asset fund. In the year to 30-10-2026, Axis ELSS- Tax Saver Fund (Direct) returned −4.5% and Sundaram Multi Asset Allocation Fund (Direct) returned −2.8%. Axis ELSS- Tax Saver Fund charges 1.05% a year and Sundaram Multi Asset Allocation Fund 0.79% (Direct plans). Their portfolios overlap 33.8%: they hold 23 of the same securities.
Axis ELSS- Tax Saver Fund
ELSS
- 1 year return
- −4.5%
- Expense ratio
- 1.05%
- NAV
- ₹106.82
Sundaram Multi Asset Allocation Fund
Multi Asset
- 1 year return
- −2.8%
- Expense ratio
- 0.79%
- NAV
- ₹13.02
Which is better, Axis ELSS- Tax Saver or Sundaram Multi Asset Allocation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Sundaram Multi Asset Allocation returned more over 1 year: −2.8% against −4.5%.
- Sundaram Multi Asset Allocation costs less: 0.79% a year against 1.05% (Direct plans).
- Sundaram Multi Asset Allocation fell less in its worst fall since 29-01-2024: −13.1% against −16.5%.
- Axis ELSS- Tax Saver holds more in large companies: 68.0% of the fund in large caps against 37.9%.
- Axis ELSS- Tax Saver is the larger fund: ₹30,269 Cr against ₹3,205 Cr.
- Their portfolios overlap 33.8%: 23 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Axis ELSS- Tax Saver Fund | Sundaram Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Axis Mutual Fund | Sundaram Mutual Fund |
| Category | ELSS | Multi Asset |
| AUM | ₹30,269 Cr (30-09-2026) | ₹3,205 Cr (30-09-2026) |
| NAV | ₹106.82 (Direct) | ₹13.02 (Direct) |
| Expense ratio (Direct) | 1.05% | 0.79% |
| Expense ratio (Regular) | 1.76% | 2.10% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | NIFTY 500 TRI 65% + NIFTY Short Duration Debt Index 10% + Domestic Prices of Gold 25% |
| Launch date | 29-12-2009 | 25-01-2024 |
| Minimum investment | ₹500 | ₹100 |
| Lock in | 3 years | None |
| Fund managers | Shreyash Devalkar Mr. Ashish Naik | Rohit Seksaria, Clyton Richard Fernandes, Kumaresh Ramakrishnan, Arjun Nagarajan, Shalav Saket |
| Exit load | Nil | Exit Load for units in excess of 30% of the investment,1% will be charged for redemption within 365 days. |
Axis ELSS- Tax Saver vs Sundaram Multi Asset Allocation: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Axis ELSS- Tax Saver Fund (Direct) | +1.20% | −3.48% | +1.46% | −4.51% | +10.74% | +5.27% | +11.72% |
| Sundaram Multi Asset Allocation Fund (Direct) | −1.70% | −4.30% | −3.75% | −2.75% | -- | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
Category average: the average of the 50 ELSS funds and the 37 Multi Asset funds, same plan type.
Axis ELSS- Tax Saver vs Sundaram Multi Asset Allocation: Year-wise Returns
| Year | Axis ELSS- Tax SaverAxis ELSS- Tax Saver | Sundaram Multi Asset AllocationSundaram Multi Asset Allocation |
|---|---|---|
| 2026to date | −3.10% | −4.86% |
| 2025 | +5.15% | +20.59% |
| 2024 | +18.30% | -- |
| 2023 | +22.89% | -- |
| 2022 | −11.23% | -- |
| 2021 | +25.60% | -- |
Axis ELSS- Tax Saver vs Sundaram Multi Asset Allocation: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Axis ELSS- Tax Saver Fund
Rolling returns
Every 1-year holding period, 437 of them, one for each trading day from 29-01-2025 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Axis ELSS- Tax Saver Fund (Direct)
Sundaram Multi Asset Allocation Fund (Direct)
Nifty 500 TRI
to
Mar 2025Jul 2024
to
Jul 2025Oct 2024
to
Oct 2025Feb 2025
to
Feb 2026May 2025
to
May 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Axis ELSS- Tax Saver | 24.5 | 31.8 | 31.1 | 11.0 | 1.6 | 0.0 | 0.0 | 3.9% | 4.3% | −7.5% | 17.3% | 51% |
| Sundaram Multi Asset Allocation | 3.2 | 2.6 | 24.6 | 43.2 | 12.5 | 12.8 | 1.2 | 12.6% | 12.2% | −5.0% | 28.0% | 100% |
| Nifty 500 TRI | 25.2 | 33.2 | 33.2 | 6.9 | 1.6 | 0.0 | 0.0 | 3.7% | 3.5% | −9.0% | 17.6% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty 500 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 29-01-2024. Past returns do not promise future returns.
Axis ELSS- Tax Saver vs Sundaram Multi Asset Allocation: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-01-2024 to 30-10-2026: 34 instalments, ₹3,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Axis ELSS- Tax SaverAxis ELSS- Tax Saver Fund (Direct) | ₹3,40,000 | ₹3,50,331 | ₹10,331 | 2.1% |
| Sundaram Multi Asset AllocationSundaram Multi Asset Allocation Fund (Direct) | ₹3,40,000 | ₹3,66,449 | ₹26,449 | 5.2% |
Axis ELSS- Tax SaverAxis ELSS- Tax Saver Fund (Direct)
Sundaram Multi Asset AllocationSundaram Multi Asset Allocation Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis ELSS- Tax Saver vs Sundaram Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Axis ELSS- Tax Saver Fund (Direct) | Sundaram Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.51% | −2.75% |
| Standard deviation | 14.43% | 13.43% |
| Sharpe ratio | -0.68 | -0.60 |
| Sortino ratio | -0.91 | -0.80 |
| Maximum drawdown | −14.1% (31-03-2026) | −13.1% (23-03-2026) |
| Beta | 0.99 | -- |
| Alpha | +2.66% | -- |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Axis ELSS- Tax Saver Fund (Direct) | Sundaram Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.25% | +10.00% |
| Standard deviation | 15.06% | 10.71% |
| Sharpe ratio | 0.61 | 0.38 |
| Sortino ratio | 0.84 | 0.52 |
| Maximum drawdown | −33.5% (23-03-2020) | −13.1% (23-03-2026) |
| Beta | 0.89 | -- |
| Alpha | +3.18% | -- |
From daily NAVs, 02-01-2013 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Axis ELSS- Tax Saver Fund (Direct)
Sundaram Multi Asset Allocation Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Axis ELSS- Tax Saver Fund (Direct) | −16.5% | 26-09-2024 | 28-02-2025 | Not yet | -- | −6.0% |
| Sundaram Multi Asset Allocation Fund (Direct) | −13.1% | 29-01-2026 | 23-03-2026 | Not yet | -- | −9.7% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 29-01-2024, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Axis ELSS- Tax Saver Fund (Direct)
Sundaram Multi Asset Allocation Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Axis ELSS- Tax Saver Fund (Direct) | 106% | 92% | 4.41% |
| Sundaram Multi Asset Allocation Fund (Direct) | 81% | 47% | 8.07% |
From month-end values since 29-01-2024. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Axis ELSS- Tax Saver vs Sundaram Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Axis ELSS- Tax Saver Fund, September 2026; Sundaram Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 33.8%
- Held by both
- 23
- Only in Axis ELSS- Tax Saver
- 48
- Only in Sundaram Multi Asset Allocation
- 45
| Security | % of Axis ELSS- Tax Saver | % of Sundaram Multi Asset Allocation |
|---|---|---|
| ICICI Bank Limited | 6.89% | 4.67% |
| Bharti Airtel Limited | 4.45% | 3.11% |
| HDFC Bank Limited | 6.09% | 2.87% |
| Larsen & Toubro Limited | 2.70% | 3.17% |
| Eternal Limited | 3.35% | 2.47% |
| Kotak Mahindra Bank Limited | 2.47% | 1.97% |
| Reliance Industries Limited | 1.74% | 3.52% |
| Cholamandalam Investment and Finance Company Ltd | 2.25% | 1.51% |
| Mahindra & Mahindra Limited | 2.42% | 1.45% |
| One 97 Communications Limited | 1.11% | 1.66% |
| Cummins India Limited | 1.07% | 1.16% |
| Sun Pharmaceutical Industries Limited | 1.61% | 1.04% |
| PB Fintech Limited | 1.22% | 1.03% |
| TVS Motor Company Limited | 1.03% | 2.04% |
| UltraTech Cement Limited | 2.36% | 0.93% |
| InterGlobe Aviation Limited | 1.46% | 0.84% |
| Delhivery Limited | 0.83% | 0.86% |
| JSW Infrastructure Ltd | 0.80% | 0.96% |
| Mankind Pharma Limited | 0.76% | 0.85% |
| Coromandel International Limited | 0.59% | 1.13% |
| Billionbrains Garage Ventures Ltd | 0.54% | 1.11% |
| Gland Pharma Limited | 0.48% | 0.76% |
| Dhoot Transmission Ltd | 0.33% | 0.26% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.8% means 33.8% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Axis ELSS- Tax Saver Fund
| Security | % of fund |
|---|---|
| Bajaj Finance Limited | 3.35% |
| Divi's Laboratories Limited | 2.74% |
| Axis Bank Limited | 2.73% |
| Pidilite Industries Limited | 2.42% |
| State Bank of India | 2.32% |
Largest holdings only in Sundaram Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| SBI-ETF GOLD | 7.17% |
| Nippon India ETF Gold Bees | 4.94% |
| Kotak Mutual Fund - Gold Exchange Traded Fund | 3.69% |
| 7.38% Central Government Securities 20/06/2027 | 3.30% |
| HDFC Gold Exchange Traded Fund | 3.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Axis ELSS- Tax Saver | Sundaram Multi Asset Allocation |
|---|---|---|
| Equity | 97.9% | 67.7% |
| Debt | 0.0% | 10.3% |
| Cash and others | 2.1% | 22.0% |
Market cap of stocks
| Market cap | Axis ELSS- Tax Saver | Sundaram Multi Asset Allocation |
|---|---|---|
| Large Cap | 68.0% | 37.9% |
| Mid Cap | 21.1% | 15.6% |
| Small Cap | 7.4% | 12.6% |
| Not on AMFI's list | 1.4% | 1.6% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Axis ELSS- Tax Saver | Sundaram Multi Asset Allocation |
|---|---|---|
| Banks | 22.2% | 9.5% |
| Pharmaceuticals & Biotechnology | 7.7% | 5.0% |
| Finance | 6.3% | 5.5% |
| Automobiles | 5.7% | 5.3% |
| Retailing | 5.1% | 2.5% |
| IT - Software | 4.9% | 0.0% |
| It - Software | 0.0% | 4.1% |
| Petroleum Products | 1.7% | 3.5% |
The six largest sectors of each fund's stocks, % of the fund.
Axis ELSS- Tax Saver vs Sundaram Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Axis ELSS- Tax Saver Fund | Sundaram Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.05% | 0.79% |
| Base expense ratio (Direct) | 0.74% | 0.44% |
| Total expense ratio (Regular) | 1.76% | 2.10% |
| Base expense ratio (Regular) | 1.35% | 1.58% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Axis ELSS- Tax Saver with
Compare Sundaram Multi Asset Allocation with
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- Sundaram Multi Asset Allocation vs Kotak Multi Asset Allocation
- Sundaram Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation
Axis ELSS- Tax Saver Fund vs Sundaram Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Axis ELSS- Tax Saver Fund and Sundaram Multi Asset Allocation Fund?
Axis ELSS- Tax Saver Fund is an ELSS fund, Sundaram Multi Asset Allocation Fund is a Multi Asset fund, run by Axis Mutual Fund and Sundaram Mutual Fund. Their portfolios overlap 33.8%. Axis ELSS- Tax Saver Fund charges 1.05% a year and Sundaram Multi Asset Allocation Fund 0.79%.
Which has given higher returns, Axis ELSS- Tax Saver Fund or Sundaram Multi Asset Allocation Fund?
Over 1 year: Axis ELSS- Tax Saver Fund −4.51%, Sundaram Multi Asset Allocation Fund −2.75%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Axis ELSS- Tax Saver Fund or Sundaram Multi Asset Allocation Fund?
Sundaram Multi Asset Allocation Fund charges less: 0.79% a year against 1.05%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Axis ELSS- Tax Saver Fund and Sundaram Multi Asset Allocation Fund overlap?
33.8%. They hold 23 of the same securities, the largest shared ones being ICICIBANK, BHARTIARTL, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, Axis ELSS- Tax Saver Fund or Sundaram Multi Asset Allocation Fund?
On SEBI's riskometer, Axis ELSS- Tax Saver Fund is rated Very High and Sundaram Multi Asset Allocation Fund Very High. Over 1 years, the standard deviation of daily returns was 14.43% and 13.43% a year.
Can I invest in both Axis ELSS- Tax Saver Fund and Sundaram Multi Asset Allocation Fund?
Yes. 33.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Axis ELSS- Tax Saver Fund and Sundaram Multi Asset Allocation Fund?
Axis ELSS- Tax Saver Fund: Shreyash Devalkar Mr. Ashish Naik. Sundaram Multi Asset Allocation Fund: Rohit Seksaria, Clyton Richard Fernandes, Kumaresh Ramakrishnan, Arjun Nagarajan, Shalav Saket.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.