Baroda BNP Paribas ELSS Tax Saver Fund vs Baroda BNP Paribas Innovation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Baroda BNP Paribas ELSS Tax Saver Fund is an ELSS fund and Baroda BNP Paribas Innovation Fund is a Thematic fund. In the year to 30-10-2026, Baroda BNP Paribas ELSS Tax Saver Fund (Direct) returned −4.3% and Baroda BNP Paribas Innovation Fund (Direct) returned 4.8%. Baroda BNP Paribas ELSS Tax Saver Fund charges 1.27% a year and Baroda BNP Paribas Innovation Fund 1.29% (Direct plans). Their portfolios overlap 31.6%: they hold 19 of the same securities.
Baroda BNP Paribas ELSS Tax Saver Fund
ELSS
- 1 year return
- −4.3%
- Expense ratio
- 1.27%
- NAV
- ₹106.60
Baroda BNP Paribas Innovation Fund
Thematic
- 1 year return
- 4.8%
- Expense ratio
- 1.29%
- NAV
- ₹13.60
Which is better, Baroda BNP Paribas ELSS Tax Saver or Baroda BNP Paribas Innovation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Baroda BNP Paribas Innovation returned more over 1 year: 4.8% against −4.3%.
- Baroda BNP Paribas ELSS Tax Saver costs less: 1.27% a year against 1.29% (Direct plans).
- Baroda BNP Paribas ELSS Tax Saver fell less in its worst fall since 07-03-2024: −17.3% against −22.3%.
- Baroda BNP Paribas ELSS Tax Saver holds more in large companies: 62.8% of the fund in large caps against 31.4%.
- Baroda BNP Paribas Innovation is the larger fund: ₹859 Cr against ₹857 Cr.
- Their portfolios overlap 31.6%: 19 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 | Baroda BNP Paribas ELSS Tax Saver Fund | Baroda BNP Paribas Innovation Fund |
|---|---|---|
| Fund house | Baroda BNP Paribas Mutual Fund | Baroda BNP Paribas Mutual Fund |
| Category | ELSS | Thematic |
| AUM | ₹857 Cr (30-09-2026) | ₹859 Cr (30-09-2026) |
| NAV | ₹106.60 (Direct) | ₹13.60 (Direct) |
| Expense ratio (Direct) | 1.27% | 1.29% |
| Expense ratio (Regular) | 2.46% | 2.51% |
| Riskometer | Not available | Not available |
| Benchmark | Not available | Not available |
| Launch date | Not available | Not available |
| Minimum investment | Not available | Not available |
| Lock in | Not available | Not available |
| Fund managers | Not available | Not available |
| Exit load | Not available | Not available |
Baroda BNP Paribas ELSS Tax Saver vs Baroda BNP Paribas Innovation: 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 |
|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas ELSS Tax Saver Fund (Direct) | −1.91% | −6.58% | −2.51% | −4.26% | +13.88% | -- | -- |
| Baroda BNP Paribas Innovation Fund (Direct) | −1.16% | −1.35% | +3.84% | +4.76% | -- | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | -- | -- |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 50 ELSS funds and the 235 Thematic funds, same plan type.
Baroda BNP Paribas ELSS Tax Saver vs Baroda BNP Paribas Innovation: Year-wise Returns
| Year | ELSS Tax SaverBaroda BNP Paribas ELSS Tax Saver | InnovationBaroda BNP Paribas Innovation | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −5.68% | +5.16% | −7.51% |
| 2025 | +6.11% | −0.64% | +7.76% |
| 2024 | +25.08% | -- | +16.24% |
| 2023 | +32.84% | -- | +26.91% |
Baroda BNP Paribas ELSS Tax Saver vs Baroda BNP Paribas Innovation: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 1-year holding period, 405 of them, one for each trading day from 07-03-2025 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.
Baroda BNP Paribas ELSS Tax Saver Fund (Direct)
Baroda BNP Paribas Innovation Fund (Direct)
Nifty 500 TRI
to
Apr 2025Aug 2024
to
Aug 2025Nov 2024
to
Nov 2025Feb 2025
to
Feb 2026Jun 2025
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Baroda BNP Paribas ELSS Tax Saver | 7.2 | 33.3 | 39.3 | 16.5 | 3.7 | 0.0 | 0.0 | 6.3% | 6.2% | −5.0% | 18.4% | 90% |
| Baroda BNP Paribas Innovation | 14.3 | 21.5 | 33.1 | 20.7 | 10.1 | 0.2 | 0.0 | 6.9% | 7.2% | −6.1% | 20.5% | 70% |
| Nifty 500 TRI | 26.4 | 32.6 | 32.8 | 6.7 | 1.5 | 0.0 | 0.0 | 3.5% | 3.4% | −9.0% | 15.9% | -- |
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 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 07-03-2024. Past returns do not promise future returns.
Baroda BNP Paribas ELSS Tax Saver vs Baroda BNP Paribas Innovation: 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 01-03-2024 to 30-10-2026: 32 instalments, ₹3,20,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Baroda BNP Paribas ELSS Tax SaverBaroda BNP Paribas ELSS Tax Saver Fund (Direct) | ₹3,20,000 | ₹3,26,356 | ₹6,356 | 1.4% |
| Baroda BNP Paribas InnovationBaroda BNP Paribas Innovation Fund (Direct) | ₹3,20,000 | ₹3,54,185 | ₹34,185 | 7.6% |
Baroda BNP Paribas ELSS Tax SaverBaroda BNP Paribas ELSS Tax Saver Fund (Direct)
Baroda BNP Paribas InnovationBaroda BNP Paribas Innovation 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.
Baroda BNP Paribas ELSS Tax Saver vs Baroda BNP Paribas Innovation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Baroda BNP Paribas ELSS Tax Saver Fund (Direct) | Baroda BNP Paribas Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.26% | +4.76% |
| Standard deviation | 14.43% | 15.72% |
| Sharpe ratio | -0.66 | -0.03 |
| Sortino ratio | -0.87 | -0.04 |
| Maximum drawdown | −13.2% (31-03-2026) | −12.2% (23-03-2026) |
| Beta | 0.98 | 1.00 |
| Alpha | +2.79% | +12.04% |
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 | Baroda BNP Paribas ELSS Tax Saver Fund (Direct) | Baroda BNP Paribas Innovation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.67% | +12.24% |
| Standard deviation | 13.79% | 15.76% |
| Sharpe ratio | 0.48 | 0.40 |
| Sortino ratio | 0.66 | 0.55 |
| Maximum drawdown | −17.3% (28-02-2025) | −22.3% (07-04-2025) |
| Beta | 0.97 | 0.99 |
| Alpha | +2.19% | +8.55% |
From daily NAVs, 14-03-2022 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.
Baroda BNP Paribas ELSS Tax Saver Fund (Direct)
Baroda BNP Paribas Innovation Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Baroda BNP Paribas ELSS Tax Saver Fund (Direct) | −17.3% | 23-09-2024 | 28-02-2025 | 27-10-2025 | 8 months | −9.5% |
| Baroda BNP Paribas Innovation Fund (Direct) | −22.3% | 15-10-2024 | 07-04-2025 | 07-05-2026 | 13 months | −6.3% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 07-03-2024, 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.
Baroda BNP Paribas ELSS Tax Saver Fund (Direct)
Baroda BNP Paribas Innovation Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Baroda BNP Paribas ELSS Tax Saver Fund (Direct) | 111% | 97% | 4.02% |
| Baroda BNP Paribas Innovation Fund (Direct) | 125% | 92% | 7.00% |
From month-end values since 07-03-2024. 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.
Baroda BNP Paribas ELSS Tax Saver vs Baroda BNP Paribas Innovation: Portfolio Overlap
From each fund's latest monthly portfolio: Baroda BNP Paribas ELSS Tax Saver Fund, September 2026; Baroda BNP Paribas Innovation Fund, September 2026
Holdings in common
- Overlap
- 31.6%
- Held by both
- 19
- Only in Baroda BNP Paribas ELSS Tax Saver
- 35
- Only in Baroda BNP Paribas Innovation
- 29
| Security | % of Baroda BNP Paribas ELSS Tax Saver | % of Baroda BNP Paribas Innovation |
|---|---|---|
| TVS Motor Company Limited | 2.90% | 3.27% |
| Hitachi Energy India Limited | 2.36% | 3.53% |
| Navin Fluorine International Limited | 2.31% | 3.45% |
| Divi's Laboratories Limited | 2.17% | 4.32% |
| One 97 Communications Limited | 2.15% | 5.27% |
| Linde India Limited | 2.08% | 4.07% |
| Mahindra & Mahindra Limited | 2.07% | 2.16% |
| Bharti Airtel Limited | 2.46% | 2.04% |
| Cummins India Limited | 1.94% | 1.74% |
| Bharat Electronics Limited | 1.66% | 2.48% |
| Amagi Media Labs Limited | 1.50% | 2.59% |
| Glenmark Pharmaceuticals Limited | 1.36% | 2.44% |
| Max Financial Services Limited | 1.35% | 1.44% |
| Sagility Limited | 1.75% | 1.34% |
| Travel Food Services Limited | 1.34% | 1.26% |
| Lenskart Solutions Limited | 1.10% | 2.58% |
| Infosys Limited | 0.99% | 1.02% |
| PB Fintech Limited | 0.62% | 1.28% |
| Ujjivan Small Finance Bank Limited | 1.97% | 0.57% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 31.6% means 31.6% 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 Baroda BNP Paribas ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| ICICI Bank Limited | 3.86% |
| State Bank of India | 3.56% |
| Radico Khaitan Limited | 3.01% |
| Reliance Industries Limited | 2.95% |
| Titan Company Limited | 2.94% |
Largest holdings only in Baroda BNP Paribas Innovation Fund
| Security | % of fund |
|---|---|
| Acutaas Chemicals Limited | 3.82% |
| Bosch Limited | 3.29% |
| Eternal Limited | 3.16% |
| Multi Commodity Exchange of India Limited | 3.11% |
| FSN E-Commerce Ventures Limited | 2.76% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Baroda BNP Paribas ELSS Tax Saver | Baroda BNP Paribas Innovation |
|---|---|---|
| Equity | 97.3% | 94.5% |
| Debt | 0.0% | 1.1% |
| Cash and others | 2.7% | 4.3% |
Market cap of stocks
| Market cap | Baroda BNP Paribas ELSS Tax Saver | Baroda BNP Paribas Innovation |
|---|---|---|
| Large Cap | 62.8% | 31.4% |
| Mid Cap | 23.0% | 34.6% |
| Small Cap | 10.6% | 26.6% |
| Not on AMFI's list | 0.8% | 1.9% |
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 | Baroda BNP Paribas ELSS Tax Saver | Baroda BNP Paribas Innovation |
|---|---|---|
| Banks | 18.4% | 0.6% |
| Pharmaceuticals & Biotechnology | 5.4% | 14.6% |
| Financial Technology (Fintech) | 2.8% | 10.3% |
| Chemicals & Petrochemicals | 6.1% | 9.2% |
| Automobiles | 9.0% | 6.2% |
| Retailing | 2.3% | 8.5% |
| Capital Markets | 3.0% | 8.2% |
| Electrical Equipment | 5.2% | 5.1% |
| Finance | 4.4% | 2.4% |
The six largest sectors of each fund's stocks, % of the fund.
Baroda BNP Paribas ELSS Tax Saver vs Baroda BNP Paribas Innovation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Baroda BNP Paribas ELSS Tax Saver Fund | Baroda BNP Paribas Innovation Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.27% | 1.29% |
| Base expense ratio (Direct) | 0.93% | 0.89% |
| Total expense ratio (Regular) | 2.46% | 2.51% |
| Base expense ratio (Regular) | 1.95% | 1.95% |
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
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Compare Baroda BNP Paribas Innovation with
Baroda BNP Paribas ELSS Tax Saver Fund vs Baroda BNP Paribas Innovation Fund: Frequently Asked Questions
What is the difference between Baroda BNP Paribas ELSS Tax Saver Fund and Baroda BNP Paribas Innovation Fund?
Baroda BNP Paribas ELSS Tax Saver Fund is an ELSS fund, Baroda BNP Paribas Innovation Fund is a Thematic fund, run by Baroda BNP Paribas Mutual Fund. Their portfolios overlap 31.6%. Baroda BNP Paribas ELSS Tax Saver Fund charges 1.27% a year and Baroda BNP Paribas Innovation Fund 1.29%.
Which has given higher returns, Baroda BNP Paribas ELSS Tax Saver Fund or Baroda BNP Paribas Innovation Fund?
Over 1 year: Baroda BNP Paribas ELSS Tax Saver Fund −4.26%, Baroda BNP Paribas Innovation Fund +4.76%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Baroda BNP Paribas ELSS Tax Saver Fund or Baroda BNP Paribas Innovation Fund?
Baroda BNP Paribas ELSS Tax Saver Fund charges less: 1.27% a year against 1.29%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Baroda BNP Paribas ELSS Tax Saver Fund and Baroda BNP Paribas Innovation Fund overlap?
31.6%. They hold 19 of the same securities, the largest shared ones being TVSMOTOR, POWERINDIA, NAVINFLUOR. From each fund's latest monthly portfolio.
Can I invest in both Baroda BNP Paribas ELSS Tax Saver Fund and Baroda BNP Paribas Innovation Fund?
Yes. 31.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
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.