Bank of India ELSS Tax Saver Fund vs Union Largecap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bank of India ELSS Tax Saver Fund is an ELSS fund and Union Largecap Fund is a Large Cap fund. In the 3 years to 30-10-2026, Bank of India ELSS Tax Saver Fund (Direct) returned 12.0% a year and Union Largecap Fund (Direct) returned 7.8% a year. Bank of India ELSS Tax Saver Fund charges 1.16% a year and Union Largecap Fund 1.68% (Direct plans). Their portfolios overlap 33.7%: they hold 22 of the same securities.
Bank of India ELSS Tax Saver Fund
ELSS
- 3 year return
- 12.0%
- Expense ratio
- 1.16%
- NAV
- ₹184.65
Which is better, Bank of India ELSS Tax Saver or Union Largecap? 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 ELSS Tax Saver returned more over 5 years: 10.4% a year against 6.1%.
- Bank of India ELSS Tax Saver returned more over 3 years: 12.0% a year against 7.8%.
- Bank of India ELSS Tax Saver costs less: 1.16% a year against 1.68% (Direct plans).
- Union Largecap swung less over 3 years: a standard deviation of 13.7% a year against 17.1%.
- Bank of India ELSS Tax Saver fell less in its worst fall since 18-05-2017: −31.7% against −36.4%.
- Union Largecap holds more in large companies: 83.0% of the fund in large caps against 50.3%.
- Bank of India ELSS Tax Saver is the larger fund: ₹1,366 Cr against ₹408 Cr.
- Their portfolios overlap 33.7%: 22 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 | Union Largecap Fund |
|---|---|---|
| Fund house | Bank of India Mutual Fund | Union Mutual Fund |
| Category | ELSS | Large Cap |
| AUM | ₹1,366 Cr (30-09-2026) | ₹408 Cr (30-09-2026) |
| NAV | ₹184.65 (Direct) | ₹23.73 (Direct) |
| Expense ratio (Direct) | 1.16% | 1.68% |
| Expense ratio (Regular) | 2.33% | 2.58% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | BSE 100 TRI |
| Launch date | 25-02-2009 | 11-05-2017 |
| Minimum investment | ₹500 | ₹1,000 |
| Lock in | 3 years | None |
| Fund managers | Alok Singh | Pratik Dharmshi, Sanjay Bembalkar |
| Exit load | NIL | Exit load of 1%, if redeemed within 15 days. |
Bank of India ELSS Tax Saver vs Union Largecap: 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% |
| Union Largecap Fund (Direct) | +0.98% | −4.24% | −2.18% | −8.09% | +7.81% | +6.11% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Large Cap average | +0.62% | −4.36% | −1.05% | −6.33% | +10.38% | +8.23% | -- |
Category average: the average of the 50 ELSS funds and the 35 Large Cap funds, same plan type.
Bank of India ELSS Tax Saver vs Union Largecap: Year-wise Returns
| Year | Bank of India ELSS Tax SaverBank of India ELSS Tax Saver | Union LargecapUnion Largecap |
|---|---|---|
| 2026to date | −2.00% | −7.05% |
| 2025 | −2.39% | +5.23% |
| 2024 | +22.93% | +13.31% |
| 2023 | +36.22% | +23.26% |
| 2022 | −0.09% | +0.23% |
| 2021 | +42.90% | +29.33% |
Bank of India ELSS Tax Saver vs Union Largecap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Bank of India ELSS Tax Saver Fund
Rolling returns
Every 3-year holding period, 1,594 of them, one for each trading day from 18-05-2020 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)
Union Largecap Fund (Direct)
BSE 500 TRI
to
Nov 2020Dec 2018
to
Dec 2021Feb 2020
to
Feb 2023Mar 2021
to
Mar 2024Apr 2022
to
Apr 2025Apr 2023
to
Apr 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 | 1.6 | 9.4 | 9.2 | 25.5 | 24.8 | 29.5 | 20.3% | 20.7% | 2.7% | 34.1% | 100% |
| Union Largecap | 1.5 | 6.4 | 11.4 | 39.8 | 29.8 | 10.0 | 1.0 | 13.7% | 14.0% | −4.7% | 30.0% | 0% |
| BSE 500 TRI | 0.6 | 6.9 | 5.3 | 23.2 | 41.2 | 17.3 | 5.5 | 16.1% | 16.5% | −3.0% | 33.9% | -- |
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 18-05-2017. Past returns do not promise future returns.
Bank of India ELSS Tax Saver vs Union Largecap: 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 02-05-2017 to 30-10-2026: 114 instalments, ₹11,40,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bank of India ELSS Tax SaverBank of India ELSS Tax Saver Fund (Direct) | ₹11,40,000 | ₹23,90,152 | ₹12,50,152 | 15.0% |
| Union LargecapUnion Largecap Fund (Direct) | ₹11,40,000 | ₹18,38,214 | ₹6,98,214 | 9.8% |
Bank of India ELSS Tax SaverBank of India ELSS Tax Saver Fund (Direct)
Union LargecapUnion Largecap 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 Union Largecap: 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) | Union Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.12% | −8.09% |
| Standard deviation | 13.94% | 14.03% |
| Sharpe ratio | -0.60 | -0.95 |
| Sortino ratio | -0.81 | -1.27 |
| Maximum drawdown | −10.3% (30-03-2026) | −14.1% (30-03-2026) |
| Beta | 0.91 | 0.99 |
| Alpha | +3.43% | +0.69% |
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) | Union Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.96% | +7.81% |
| Standard deviation | 17.11% | 13.72% |
| Sharpe ratio | 0.35 | 0.13 |
| Sortino ratio | 0.45 | 0.18 |
| Maximum drawdown | −23.9% (28-02-2025) | −16.3% (28-02-2025) |
| Beta | 1.12 | 0.99 |
| Alpha | +1.61% | −1.14% |
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) | Union Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.43% | +6.11% |
| Standard deviation | 16.31% | 13.79% |
| Sharpe ratio | 0.28 | 0.02 |
| Sortino ratio | 0.37 | 0.03 |
| Maximum drawdown | −23.9% (28-02-2025) | −18.8% (17-06-2022) |
| Beta | 1.07 | 0.98 |
| Alpha | +1.59% | −1.63% |
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) | Union Largecap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.08% | +9.55% |
| Standard deviation | 16.23% | 16.04% |
| Sharpe ratio | 0.62 | 0.26 |
| Sortino ratio | 0.83 | 0.35 |
| Maximum drawdown | −31.7% (23-03-2020) | −36.4% (23-03-2020) |
| Beta | 0.96 | 0.97 |
| Alpha | +3.53% | −1.93% |
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)
Union Largecap 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) | −31.7% | 20-02-2020 | 23-03-2020 | 24-08-2020 | 5 months | −10.2% |
| Union Largecap Fund (Direct) | −36.4% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 18-05-2017, 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)
Union Largecap 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)
Union Largecap 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)
Union Largecap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bank of India ELSS Tax Saver Fund (Direct) | 108% | 93% | 7.25% |
| Union Largecap Fund (Direct) | 87% | 93% | 3.50% |
From month-end values since 18-05-2017. 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 Union Largecap: Portfolio Overlap
From each fund's latest monthly portfolio: Bank of India ELSS Tax Saver Fund, September 2026; Union Largecap Fund, September 2026
Holdings in common
- Overlap
- 33.7%
- Held by both
- 22
- Only in Bank of India ELSS Tax Saver
- 38
- Only in Union Largecap
- 35
| Security | % of Bank of India ELSS Tax Saver | % of Union Largecap |
|---|---|---|
| ICICI Bank Limited | 4.26% | 9.41% |
| State Bank of India | 5.02% | 4.18% |
| Bharti Airtel Limited | 3.21% | 4.31% |
| NTPC Limited | 2.46% | 2.37% |
| HDFC Bank Limited | 2.23% | 6.95% |
| Larsen & Toubro Limited | 2.23% | 2.49% |
| Reliance Industries Limited | 1.95% | 5.28% |
| Mahindra & Mahindra Limited | 1.71% | 2.68% |
| Bharat Electronics Limited | 1.65% | 1.40% |
| Hindustan Copper Limited | 1.01% | 1.11% |
| UNO Minda Limited | 2.83% | 1.00% |
| UltraTech Cement Limited | 1.00% | 0.99% |
| JSW Steel Limited | 0.99% | 1.23% |
| Max Financial Services Limited | 0.93% | 1.30% |
| Adani Ports and Special Economic Zone Limited | 2.95% | 0.88% |
| Tata Motors Ltd | 1.51% | 0.85% |
| ICICI Prudential Asset Management Company Limited | 1.85% | 0.79% |
| National Stock Exchange Of India Ltd | 0.72% | 1.70% |
| Apollo Hospitals Enterprise Limited | 0.60% | 0.90% |
| LG Electronics India Ltd | 2.74% | 0.59% |
| Tata Steel Limited | 0.47% | 0.57% |
| Bharat Heavy Electricals Limited | 0.30% | 0.52% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 33.7% means 33.7% 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 |
|---|---|
| Hindustan Aeronautics Limited | 3.76% |
| Quality Power Electrical Eqp Ltd | 3.15% |
| Balrampur Chini Mills Limited | 2.81% |
| Dr. Reddy's Laboratories Limited | 2.81% |
| Bank of Baroda | 2.29% |
Largest holdings only in Union Largecap Fund
| Security | % of fund |
|---|---|
| Torrent Pharmaceuticals Ltd. | 3.27% |
| Eternal Ltd. | 3.27% |
| Axis Bank Ltd. | 3.24% |
| Infosys Ltd. | 2.69% |
| Tata Consumer Products Ltd. | 2.57% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bank of India ELSS Tax Saver | Union Largecap |
|---|---|---|
| Equity | 88.0% | 99.0% |
| Debt | 2.8% | 0.1% |
| Cash and others | 9.2% | 0.9% |
Market cap of stocks
| Market cap | Bank of India ELSS Tax Saver | Union Largecap |
|---|---|---|
| Large Cap | 50.3% | 83.0% |
| Mid Cap | 14.2% | 10.7% |
| Small Cap | 19.4% | 3.6% |
| Not on AMFI's list | 4.2% | 1.7% |
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 | Union Largecap |
|---|---|---|
| Banks | 17.1% | 26.3% |
| Aerospace & Defense | 5.4% | 1.4% |
| Petroleum Products | 1.9% | 5.3% |
| Pharmaceuticals & Biotechnology | 4.9% | 5.2% |
| Auto Components | 5.2% | 2.2% |
| Automobiles | 1.7% | 4.9% |
| Finance | 0.0% | 4.8% |
| Retailing | 0.0% | 4.6% |
| Electrical Equipment | 4.3% | 4.3% |
| Industrial Manufacturing | 3.4% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Bank of India ELSS Tax Saver vs Union Largecap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bank of India ELSS Tax Saver Fund | Union Largecap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.16% | 1.68% |
| Base expense ratio (Direct) | 0.84% | 1.34% |
| Total expense ratio (Regular) | 2.33% | 2.58% |
| Base expense ratio (Regular) | 1.83% | 2.10% |
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 Union Largecap Fund: Frequently Asked Questions
What is the difference between Bank of India ELSS Tax Saver Fund and Union Largecap Fund?
Bank of India ELSS Tax Saver Fund is an ELSS fund, Union Largecap Fund is a Large Cap fund, run by Bank of India Mutual Fund and Union Mutual Fund. Their portfolios overlap 33.7%. Bank of India ELSS Tax Saver Fund charges 1.16% a year and Union Largecap Fund 1.68%.
Which has given higher returns, Bank of India ELSS Tax Saver Fund or Union Largecap Fund?
Over 1 year: Bank of India ELSS Tax Saver Fund −3.12%, Union Largecap Fund −8.09%. Over 3 years: Bank of India ELSS Tax Saver Fund +11.96% a year, Union Largecap Fund +7.81% a year. Over 5 years: Bank of India ELSS Tax Saver Fund +10.43% a year, Union Largecap Fund +6.11% 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 Union Largecap Fund?
Bank of India ELSS Tax Saver Fund charges less: 1.16% a year against 1.68%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bank of India ELSS Tax Saver Fund and Union Largecap Fund overlap?
33.7%. They hold 22 of the same securities, the largest shared ones being ICICIBANK, SBIN, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Bank of India ELSS Tax Saver Fund or Union Largecap Fund?
On SEBI's riskometer, Bank of India ELSS Tax Saver Fund is rated Very High and Union Largecap Fund Very High. Over 3 years, the standard deviation of daily returns was 17.11% and 13.72% a year.
Which is better for SIP, Bank of India ELSS Tax Saver Fund or Union Largecap 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 ₹7,02,268 in Union Largecap Fund (XIRR 5.5% 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 Union Largecap Fund?
Yes. 33.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bank of India ELSS Tax Saver Fund and Union Largecap Fund?
Bank of India ELSS Tax Saver Fund: Alok Singh. Union Largecap Fund: Pratik Dharmshi, Sanjay Bembalkar.
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.