Bank of India ELSS Tax Saver Fund vs Bank of India Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bank of India ELSS Tax Saver Fund is an ELSS fund and Bank of India Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, Bank of India ELSS Tax Saver Fund (Direct) returned 12.0% a year and Bank of India Flexi Cap Fund (Direct) returned 18.2% a year. Bank of India ELSS Tax Saver Fund charges 1.16% a year and Bank of India Flexi Cap Fund 0.89% (Direct plans). Their portfolios overlap 54.3%: they hold 36 of the same securities.
Bank of India ELSS Tax Saver Fund
ELSS
- 3 year return
- 12.0%
- Expense ratio
- 1.16%
- NAV
- ₹184.65
Bank of India Flexi Cap Fund
Flexi Cap
- 3 year return
- 18.2%
- Expense ratio
- 0.89%
- NAV
- ₹40.10
Which is better, Bank of India ELSS Tax Saver or Bank of India Flexi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bank of India Flexi Cap returned more over 5 years: 15.0% a year against 10.4%.
- Bank of India Flexi Cap returned more over 3 years: 18.2% a year against 12.0%.
- Bank of India Flexi Cap costs less: 0.89% a year against 1.16% (Direct plans).
- Bank of India ELSS Tax Saver swung less over 3 years: a standard deviation of 17.1% a year against 17.5%.
- Bank of India Flexi Cap fell less in its worst fall since 01-07-2020: −23.7% against −23.9%.
- Bank of India ELSS Tax Saver holds more in large companies: 50.3% of the fund in large caps against 40.1%.
- Bank of India Flexi Cap is the larger fund: ₹3,098 Cr against ₹1,366 Cr.
- Their portfolios overlap 54.3%: 36 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 | Bank of India ELSS Tax Saver Fund | Bank of India Flexi Cap Fund |
|---|---|---|
| Fund house | Bank of India Mutual Fund | Bank of India Mutual Fund |
| Category | ELSS | Flexi Cap |
| AUM | ₹1,366 Cr (30-09-2026) | ₹3,098 Cr (30-09-2026) |
| NAV | ₹184.65 (Direct) | ₹40.10 (Direct) |
| Expense ratio (Direct) | 1.16% | 0.89% |
| Expense ratio (Regular) | 2.33% | 2.27% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | BSE 500 TRI |
| Launch date | 25-02-2009 | 29-06-2020 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | 3 years | None |
| Fund managers | Alok Singh | Alok Singh |
| Exit load | NIL | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 3 months. |
Bank of India ELSS Tax Saver vs Bank of India Flexi Cap: 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 |
|---|---|---|---|---|---|---|---|
| Bank of India ELSS Tax Saver Fund (Direct) | −2.75% | −3.62% | −3.55% | −3.12% | +11.96% | +10.43% | +15.50% |
| Bank of India Flexi Cap Fund (Direct) | −3.84% | −2.67% | +1.21% | +1.91% | +18.16% | +15.01% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | -- |
Category average: the average of the 50 ELSS funds and the 46 Flexi Cap funds, same plan type.
Bank of India ELSS Tax Saver vs Bank of India Flexi Cap: Year-wise Returns
| Year | ELSS Tax SaverBank of India ELSS Tax Saver | Flexi CapBank of India Flexi Cap | BSE 500 TRI |
|---|---|---|---|
| 2026to date | −2.00% | +4.13% | −7.81% |
| 2025 | −2.39% | +1.16% | +7.63% |
| 2024 | +22.93% | +30.91% | +15.81% |
| 2023 | +36.22% | +39.67% | +26.55% |
| 2022 | −0.09% | +0.77% | +4.77% |
| 2021 | +42.90% | +48.53% | +31.63% |
Bank of India ELSS Tax Saver vs Bank of India Flexi Cap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 819 of them, one for each trading day from 03-07-2023 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.
Bank of India ELSS Tax Saver Fund (Direct)
Bank of India Flexi Cap Fund (Direct)
BSE 500 TRI
to
Oct 2023May 2021
to
May 2024Nov 2021
to
Nov 2024Jun 2022
to
Jun 2025Jan 2023
to
Jan 2026Jul 2023
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bank of India ELSS Tax Saver | 0.0 | 0.0 | 0.0 | 8.8 | 43.3 | 25.9 | 22.0 | 20.5% | 19.4% | 10.8% | 29.3% | 100% |
| Bank of India Flexi Cap | 0.0 | 0.0 | 0.0 | 0.0 | 11.7 | 42.2 | 46.0 | 24.7% | 24.2% | 15.3% | 31.1% | 100% |
| BSE 500 TRI | 0.0 | 0.0 | 2.9 | 24.9 | 49.3 | 20.6 | 2.2 | 17.2% | 16.9% | 8.4% | 26.1% | -- |
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 BSE 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 01-07-2020. Past returns do not promise future returns.
Bank of India ELSS Tax Saver vs Bank of India Flexi Cap: 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 01-07-2020 to 30-10-2026: 76 instalments, ₹7,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bank of India ELSS Tax SaverBank of India ELSS Tax Saver Fund (Direct) | ₹7,60,000 | ₹11,22,291 | ₹3,62,291 | 12.2% |
| Bank of India Flexi CapBank of India Flexi Cap Fund (Direct) | ₹7,60,000 | ₹13,28,910 | ₹5,68,910 | 17.5% |
Bank of India ELSS Tax SaverBank of India ELSS Tax Saver Fund (Direct)
Bank of India Flexi CapBank of India Flexi Cap 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.
Bank of India ELSS Tax Saver vs Bank of India Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bank of India ELSS Tax Saver Fund (Direct) | Bank of India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.12% | +1.91% |
| Standard deviation | 13.94% | 14.65% |
| Sharpe ratio | -0.60 | -0.23 |
| Sortino ratio | -0.81 | -0.31 |
| Maximum drawdown | −10.3% (30-03-2026) | −11.8% (30-03-2026) |
| Beta | 0.91 | 0.95 |
| Alpha | +3.43% | +8.96% |
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 | Bank of India ELSS Tax Saver Fund (Direct) | Bank of India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.96% | +18.16% |
| Standard deviation | 17.11% | 17.49% |
| Sharpe ratio | 0.35 | 0.69 |
| Sortino ratio | 0.45 | 0.92 |
| Maximum drawdown | −23.9% (28-02-2025) | −23.7% (28-02-2025) |
| Beta | 1.12 | 1.14 |
| Alpha | +1.61% | +7.73% |
From daily NAVs, 30-10-2023 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 | Bank of India ELSS Tax Saver Fund (Direct) | Bank of India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.43% | +15.01% |
| Standard deviation | 16.31% | 16.76% |
| Sharpe ratio | 0.28 | 0.55 |
| Sortino ratio | 0.37 | 0.73 |
| Maximum drawdown | −23.9% (28-02-2025) | −23.7% (28-02-2025) |
| Beta | 1.07 | 1.09 |
| Alpha | +1.59% | +6.11% |
From daily NAVs, 29-10-2021 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 | Bank of India ELSS Tax Saver Fund (Direct) | Bank of India Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.08% | +24.45% |
| Standard deviation | 16.23% | 16.42% |
| Sharpe ratio | 0.62 | 1.17 |
| Sortino ratio | 0.83 | 1.58 |
| Maximum drawdown | −31.7% (23-03-2020) | −23.7% (28-02-2025) |
| Beta | 0.96 | 1.05 |
| Alpha | +3.53% | +6.73% |
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.
Bank of India ELSS Tax Saver Fund (Direct)
Bank of India Flexi Cap Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bank of India ELSS Tax Saver Fund (Direct) | −23.9% | 11-12-2024 | 28-02-2025 | Not yet | -- | −10.2% |
| Bank of India Flexi Cap Fund (Direct) | −23.7% | 11-12-2024 | 28-02-2025 | 07-05-2026 | 14 months | −6.5% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 01-07-2020, 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.
Bank of India ELSS Tax Saver Fund (Direct)
Bank of India Flexi Cap Fund (Direct)
BSE 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bank of India ELSS Tax Saver Fund (Direct)
Bank of India Flexi Cap Fund (Direct)
BSE 500 TRI
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bank of India ELSS Tax Saver Fund (Direct)
Bank of India Flexi Cap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bank of India ELSS Tax Saver Fund (Direct) | 109% | 99% | 6.63% |
| Bank of India Flexi Cap Fund (Direct) | 119% | 91% | 7.39% |
From month-end values since 01-07-2020. 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.
Bank of India ELSS Tax Saver vs Bank of India Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Bank of India ELSS Tax Saver Fund, September 2026; Bank of India Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 54.3%
- Held by both
- 36
- Only in Bank of India ELSS Tax Saver
- 24
- Only in Bank of India Flexi Cap
- 39
| Security | % of Bank of India ELSS Tax Saver | % of Bank of India Flexi Cap |
|---|---|---|
| State Bank of India | 5.02% | 5.05% |
| ICICI Bank Limited | 4.26% | 3.41% |
| Quality Power Electrical Eqp Ltd | 3.15% | 2.78% |
| Hindustan Aeronautics Limited | 3.76% | 2.77% |
| Balrampur Chini Mills Limited | 2.81% | 2.51% |
| Dr. Reddy's Laboratories Limited | 2.81% | 2.51% |
| Bharti Airtel Limited | 3.21% | 2.27% |
| Adani Ports and Special Economic Zone Limited | 2.95% | 2.21% |
| Bank of Baroda | 2.29% | 2.07% |
| HDFC Bank Limited | 2.23% | 1.94% |
| UNO Minda Limited | 2.83% | 1.89% |
| Indian Bank | 2.01% | 1.89% |
| ICICI Prudential Asset Management Company Limited | 1.85% | 1.79% |
| Mahindra & Mahindra Limited | 1.71% | 1.54% |
| Acutaas Chemicals Limited | 1.99% | 1.43% |
| NTPC Limited | 2.46% | 1.38% |
| Coromandel International Limited | 2.02% | 1.34% |
| Reliance Industries Limited | 1.95% | 1.34% |
| Bharat Electronics Limited | 1.65% | 1.25% |
| Larsen & Toubro Limited | 2.23% | 1.21% |
| Vedanta Aluminium Metal Limited | 1.24% | 1.13% |
| Titagarh Rail Systems Limited | 1.11% | 1.03% |
| JSW Steel Limited | 0.99% | 1.01% |
| Britannia Industries Limited | 0.99% | 1.18% |
| Hindustan Copper Limited | 1.01% | 0.98% |
| Swan Corp Limited | 1.33% | 0.91% |
| UltraTech Cement Limited | 1.00% | 0.88% |
| Tata Motors Ltd | 1.51% | 0.87% |
| Bharat Forge Limited | 0.99% | 0.78% |
| HEG Graphite Ltd | 1.82% | 0.77% |
| Siemens Energy India Limited | 0.87% | 0.68% |
| SBI Life Insurance Company Limited | 1.37% | 0.62% |
| Zaggle Prepaid Ocean Services Limited | 0.71% | 0.51% |
| Leap India Limited | 0.32% | 0.73% |
| Triveni Power Transmission Limited | 0.59% | 0.30% |
| 364 Days Tbill (MD 07/01/2027) | 0.13% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 54.3% means 54.3% 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 Bank of India ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| LG Electronics India Ltd | 2.74% |
| EID Parry India Limited | 2.26% |
| Aditya Infotech Limited | 1.72% |
| Inox India Limited | 1.35% |
| ZF Commercial Vehicle Control Systems India Limited | 1.34% |
Largest holdings only in Bank of India Flexi Cap Fund
| Security | % of fund |
|---|---|
| Mankind Pharma Limited | 2.67% |
| Sky Gold And Diamonds Limited | 2.62% |
| Sigma Advanced Systems Limited | 2.62% |
| Sterlite Technologies Limited | 2.61% |
| Entero Healthcare Solutions Ltd | 2.26% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bank of India ELSS Tax Saver | Bank of India Flexi Cap |
|---|---|---|
| Equity | 88.0% | 90.7% |
| Debt | 2.8% | 4.8% |
| Cash and others | 9.2% | 4.5% |
Market cap of stocks
| Market cap | Bank of India ELSS Tax Saver | Bank of India Flexi Cap |
|---|---|---|
| Large Cap | 50.3% | 40.1% |
| Mid Cap | 14.2% | 16.1% |
| Small Cap | 19.4% | 32.1% |
| Not on AMFI's list | 4.2% | 2.4% |
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 | Bank of India ELSS Tax Saver | Bank of India Flexi Cap |
|---|---|---|
| Banks | 17.1% | 14.4% |
| Pharmaceuticals & Biotechnology | 4.9% | 7.5% |
| Aerospace & Defense | 5.4% | 6.6% |
| Electrical Equipment | 4.3% | 5.8% |
| Auto Components | 5.2% | 4.1% |
| Consumer Durables | 2.7% | 4.7% |
| Telecom - Equipment & Accessories | 0.0% | 4.2% |
| Industrial Manufacturing | 3.4% | 2.4% |
The six largest sectors of each fund's stocks, % of the fund.
Bank of India ELSS Tax Saver vs Bank of India Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bank of India ELSS Tax Saver Fund | Bank of India Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.16% | 0.89% |
| Base expense ratio (Direct) | 0.84% | 0.49% |
| Total expense ratio (Regular) | 2.33% | 2.27% |
| Base expense ratio (Regular) | 1.83% | 1.66% |
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 Bank of India ELSS Tax Saver with
Bank of India ELSS Tax Saver Fund vs Bank of India Flexi Cap Fund: Frequently Asked Questions
What is the difference between Bank of India ELSS Tax Saver Fund and Bank of India Flexi Cap Fund?
Bank of India ELSS Tax Saver Fund is an ELSS fund, Bank of India Flexi Cap Fund is a Flexi Cap fund, run by Bank of India Mutual Fund. Their portfolios overlap 54.3%. Bank of India ELSS Tax Saver Fund charges 1.16% a year and Bank of India Flexi Cap Fund 0.89%.
Which has given higher returns, Bank of India ELSS Tax Saver Fund or Bank of India Flexi Cap Fund?
Over 1 year: Bank of India ELSS Tax Saver Fund −3.12%, Bank of India Flexi Cap Fund +1.91%. Over 3 years: Bank of India ELSS Tax Saver Fund +11.96% a year, Bank of India Flexi Cap Fund +18.16% a year. Over 5 years: Bank of India ELSS Tax Saver Fund +10.43% a year, Bank of India Flexi Cap Fund +15.01% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bank of India ELSS Tax Saver Fund or Bank of India Flexi Cap Fund?
Bank of India Flexi Cap Fund charges less: 0.89% a year against 1.16%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bank of India ELSS Tax Saver Fund and Bank of India Flexi Cap Fund overlap?
54.3%. They hold 36 of the same securities, the largest shared ones being SBIN, ICICIBANK, QPOWER. From each fund's latest monthly portfolio.
Which is riskier, Bank of India ELSS Tax Saver Fund or Bank of India Flexi Cap Fund?
On SEBI's riskometer, Bank of India ELSS Tax Saver Fund is rated Very High and Bank of India Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 17.11% and 17.49% a year.
Which is better for SIP, Bank of India ELSS Tax Saver Fund or Bank of India Flexi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,73,510 in Bank of India ELSS Tax Saver Fund (XIRR 9.3% a year) and ₹8,90,781 in Bank of India Flexi Cap Fund (XIRR 14.9% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Bank of India ELSS Tax Saver Fund and Bank of India Flexi Cap Fund?
Yes. 54.3% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bank of India ELSS Tax Saver Fund and Bank of India Flexi Cap Fund?
Bank of India ELSS Tax Saver Fund: Alok Singh. Bank of India Flexi Cap Fund: Alok Singh.
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.