Canara Robeco ELSS - Tax Saver Fund vs Nippon India Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Canara Robeco ELSS - Tax Saver Fund is an ELSS fund and Nippon India Multi Cap Fund is a Multi Cap fund. In the 3 years to 30-10-2026, Canara Robeco ELSS - Tax Saver Fund (Direct) returned 11.5% a year and Nippon India Multi Cap Fund (Direct) returned 11.9% a year. Canara Robeco ELSS - Tax Saver Fund charges 0.73% a year and Nippon India Multi Cap Fund 0.89% (Direct plans). Their portfolios overlap 40.4%: they hold 34 of the same securities.
Canara Robeco ELSS - Tax Saver Fund
ELSS
- 3 year return
- 11.5%
- Expense ratio
- 0.73%
- NAV
- ₹192.74
Nippon India Multi Cap Fund
Multi Cap
- 3 year return
- 11.9%
- Expense ratio
- 0.89%
- NAV
- ₹309.72
Which is better, Canara Robeco ELSS - Tax Saver or Nippon India Multi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Nippon India Multi Cap returned more over 5 years: 14.9% a year against 9.0%.
- Nippon India Multi Cap returned more over 3 years: 11.9% a year against 11.5%.
- Canara Robeco ELSS - Tax Saver costs less: 0.73% a year against 0.89% (Direct plans).
- Canara Robeco ELSS - Tax Saver swung less over 3 years: a standard deviation of 13.5% a year against 14.3%.
- Canara Robeco ELSS - Tax Saver fell less in its worst fall since 02-01-2013: −34.3% against −42.8%.
- Canara Robeco ELSS - Tax Saver holds more in large companies: 73.5% of the fund in large caps against 43.5%.
- Nippon India Multi Cap is the larger fund: ₹53,767 Cr against ₹8,167 Cr.
- Their portfolios overlap 40.4%: 34 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 | Canara Robeco ELSS - Tax Saver Fund | Nippon India Multi Cap Fund |
|---|---|---|
| Fund house | Canara Robeco Mutual Fund | Nippon India Mutual Fund |
| Category | ELSS | Multi Cap |
| AUM | ₹8,167 Cr (30-09-2026) | ₹53,767 Cr (30-09-2026) |
| NAV | ₹192.74 (Direct) | ₹309.72 (Direct) |
| Expense ratio (Direct) | 0.73% | 0.89% |
| Expense ratio (Regular) | 1.85% | 1.62% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 31-03-1993 | 28-03-2005 |
| Minimum investment | ₹500 | ₹100 |
| Lock in | 3 years | None |
| Fund managers | Vishal Mishra / Mr. Shridatta Bhandwaldar | Sailesh Raj Bhan, Yatin Matta |
| Exit load | Nil | For units more than 10% of the investments, an exit load of 1% if redeemed within 12 months. |
Canara Robeco ELSS - Tax Saver vs Nippon India Multi 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 |
|---|---|---|---|---|---|---|---|
| Canara Robeco ELSS - Tax Saver Fund (Direct) | +0.20% | −4.74% | −1.14% | −4.70% | +11.47% | +9.00% | +14.38% |
| Nippon India Multi Cap Fund (Direct) | −3.06% | −7.39% | −5.16% | −8.14% | +11.87% | +14.92% | +14.86% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | +12.56% | +14.55% |
Category average: the average of the 50 ELSS funds and the 33 Multi Cap funds, same plan type.
Canara Robeco ELSS - Tax Saver vs Nippon India Multi Cap: Year-wise Returns
| Year | Canara Robeco ELSS - Tax SaverCanara Robeco ELSS - Tax Saver | Nippon India Multi CapNippon India Multi Cap |
|---|---|---|
| 2026to date | −4.49% | −6.44% |
| 2025 | +6.46% | +4.88% |
| 2024 | +18.88% | +26.85% |
| 2023 | +25.20% | +39.15% |
| 2022 | +1.22% | +14.97% |
| 2021 | +36.81% | +49.87% |
Canara Robeco ELSS - Tax Saver vs Nippon India Multi Cap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Canara Robeco ELSS - Tax Saver Fund
Rolling returns
Every 3-year holding period, 2,666 of them, one for each trading day from 04-01-2016 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.
Canara Robeco ELSS - Tax Saver Fund (Direct)
Nippon India Multi Cap Fund (Direct)
BSE 500 TRI
to
Nov 2016Sept 2015
to
Sept 2018Jul 2017
to
Jul 2020May 2019
to
May 2022Mar 2021
to
Mar 2024Dec 2022
to
Dec 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canara Robeco ELSS - Tax Saver | 0.0 | 2.0 | 10.2 | 28.2 | 35.9 | 16.2 | 7.5 | 16.2% | 16.0% | −0.4% | 33.5% | 67% |
| Nippon India Multi Cap | 6.6 | 2.2 | 14.2 | 20.5 | 18.4 | 17.1 | 21.0 | 17.3% | 16.9% | −8.9% | 42.6% | 54% |
| BSE 500 TRI | 1.8 | 4.2 | 8.0 | 36.8 | 34.2 | 11.7 | 3.3 | 14.8% | 14.9% | −6.2% | 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 02-01-2013. Past returns do not promise future returns.
Canara Robeco ELSS - Tax Saver vs Nippon India Multi 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Canara Robeco ELSS - Tax SaverCanara Robeco ELSS - Tax Saver Fund (Direct) | ₹16,60,000 | ₹48,21,628 | ₹31,61,628 | 14.3% |
| Nippon India Multi CapNippon India Multi Cap Fund (Direct) | ₹16,60,000 | ₹52,34,670 | ₹35,74,670 | 15.3% |
Canara Robeco ELSS - Tax SaverCanara Robeco ELSS - Tax Saver Fund (Direct)
Nippon India Multi CapNippon India Multi 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.
Canara Robeco ELSS - Tax Saver vs Nippon India Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Canara Robeco ELSS - Tax Saver Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.70% | −8.14% |
| Standard deviation | 14.07% | 14.29% |
| Sharpe ratio | -0.71 | -0.94 |
| Sortino ratio | -0.96 | -1.24 |
| Maximum drawdown | −12.9% (30-03-2026) | −13.1% (31-03-2026) |
| Beta | 0.98 | 0.94 |
| Alpha | +2.65% | −2.81% |
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 | Canara Robeco ELSS - Tax Saver Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.47% | +11.87% |
| Standard deviation | 13.48% | 14.32% |
| Sharpe ratio | 0.40 | 0.41 |
| Sortino ratio | 0.55 | 0.55 |
| Maximum drawdown | −18.2% (28-02-2025) | −18.6% (03-03-2025) |
| Beta | 0.94 | 0.93 |
| Alpha | +1.82% | +0.99% |
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 | Canara Robeco ELSS - Tax Saver Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.00% | +14.92% |
| Standard deviation | 13.58% | 14.54% |
| Sharpe ratio | 0.24 | 0.63 |
| Sortino ratio | 0.32 | 0.84 |
| Maximum drawdown | −18.6% (17-06-2022) | −18.6% (03-03-2025) |
| Beta | 0.94 | 0.94 |
| Alpha | +0.53% | +4.68% |
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 | Canara Robeco ELSS - Tax Saver Fund (Direct) | Nippon India Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.38% | +14.98% |
| Standard deviation | 15.25% | 16.54% |
| Sharpe ratio | 0.55 | 0.54 |
| Sortino ratio | 0.74 | 0.73 |
| Maximum drawdown | −34.3% (23-03-2020) | −42.8% (23-03-2020) |
| Beta | 0.94 | -- |
| Alpha | +1.96% | -- |
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.
Canara Robeco ELSS - Tax Saver Fund (Direct)
Nippon India Multi 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 |
|---|---|---|---|---|---|---|
| Canara Robeco ELSS - Tax Saver Fund (Direct) | −34.3% | 20-02-2020 | 23-03-2020 | 16-09-2020 | 6 months | −6.9% |
| Nippon India Multi Cap Fund (Direct) | −42.8% | 27-05-2019 | 23-03-2020 | 12-01-2021 | 10 months | −9.2% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 02-01-2013, 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.
Canara Robeco ELSS - Tax Saver Fund (Direct)
Nippon India Multi 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.
Canara Robeco ELSS - Tax Saver Fund (Direct)
Nippon India Multi 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.
Canara Robeco ELSS - Tax Saver Fund (Direct)
Nippon India Multi Cap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Canara Robeco ELSS - Tax Saver Fund (Direct) | 97% | 87% | 4.08% |
| Nippon India Multi Cap Fund (Direct) | 110% | 103% | 7.06% |
From month-end values since 02-01-2013. 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.
Canara Robeco ELSS - Tax Saver vs Nippon India Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Canara Robeco ELSS - Tax Saver Fund, September 2026; Nippon India Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 40.4%
- Held by both
- 34
- Only in Canara Robeco ELSS - Tax Saver
- 40
- Only in Nippon India Multi Cap
- 86
| Security | % of Canara Robeco ELSS - Tax Saver | % of Nippon India Multi Cap |
|---|---|---|
| HDFC Bank Ltd | 6.22% | 7.06% |
| ICICI Bank Ltd | 6.82% | 2.97% |
| Infosys Ltd | 2.96% | 3.06% |
| Axis Bank Ltd | 2.83% | 5.07% |
| Larsen & Toubro Ltd | 3.42% | 1.74% |
| Samvardhana Motherson International Ltd | 1.94% | 1.70% |
| Bajaj Finance Ltd | 2.74% | 1.63% |
| Reliance Industries Ltd | 4.05% | 1.34% |
| Mahindra & Mahindra Ltd | 1.24% | 1.35% |
| State Bank of India | 3.59% | 1.23% |
| NTPC Ltd | 1.21% | 1.79% |
| Divi's Laboratories Ltd | 2.79% | 1.15% |
| Max Financial Services Ltd | 1.11% | 1.51% |
| Ge Vernova T&D India Ltd | 1.09% | 1.58% |
| Tata Power Co Ltd | 1.00% | 1.08% |
| Eternal Ltd | 2.31% | 0.96% |
| Sun Pharmaceutical Industries Ltd | 1.11% | 0.91% |
| FSN E-Commerce Ventures Ltd | 0.88% | 1.19% |
| CG Power and Industrial Solutions Ltd | 1.65% | 0.72% |
| Tata Consultancy Services Ltd | 0.72% | 0.99% |
| ITC Ltd | 0.68% | 1.49% |
| NTPC Green Energy Ltd | 0.65% | 0.70% |
| Indian Hotels Co Ltd | 0.63% | 0.79% |
| Vishal Mega Mart Ltd | 0.58% | 0.80% |
| Info Edge (India) Ltd | 0.99% | 0.56% |
| Crompton Greaves Consumer Electricals Ltd | 0.55% | 0.74% |
| Linde India Ltd | 0.53% | 1.79% |
| Trent Ltd | 0.52% | 0.82% |
| Jubilant Foodworks Ltd | 0.51% | 1.49% |
| TVS Motor Co Ltd | 1.58% | 0.47% |
| J.K. Cement Ltd | 0.95% | 0.42% |
| Power Finance Corporation Ltd | 0.82% | 0.39% |
| Cummins India Ltd | 0.67% | 0.23% |
| ICICI Lombard General Insurance Co Ltd | 0.10% | 0.75% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.4% means 40.4% 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 Canara Robeco ELSS - Tax Saver Fund
| Security | % of fund |
|---|---|
| Bharti Airtel Ltd | 3.35% |
| Interglobe Aviation Ltd | 1.82% |
| Ultratech Cement Ltd | 1.78% |
| Torrent Pharmaceuticals Ltd | 1.66% |
| PNB Housing Finance Ltd | 1.36% |
Largest holdings only in Nippon India Multi Cap Fund
| Security | % of fund |
|---|---|
| Swiggy Limited | 1.63% |
| Avenue Supermarts Limited | 1.63% |
| Kennametal India Limited | 1.40% |
| Multi Commodity Exchange of India Limited | 1.27% |
| AU Small Finance Bank Limited | 1.27% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Canara Robeco ELSS - Tax Saver | Nippon India Multi Cap |
|---|---|---|
| Equity | 97.8% | 99.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.2% | 0.7% |
Market cap of stocks
| Market cap | Canara Robeco ELSS - Tax Saver | Nippon India Multi Cap |
|---|---|---|
| Large Cap | 73.5% | 43.5% |
| Mid Cap | 16.9% | 29.5% |
| Small Cap | 7.4% | 26.3% |
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 | Canara Robeco ELSS - Tax Saver | Nippon India Multi Cap |
|---|---|---|
| Banks | 20.7% | 17.6% |
| Retailing | 6.3% | 9.9% |
| Pharmaceuticals & Biotechnology | 6.8% | 7.9% |
| Consumer Durables | 2.2% | 6.9% |
| Leisure Services | 1.1% | 5.8% |
| Finance | 5.7% | 3.0% |
| Automobiles | 5.1% | 1.8% |
| Electrical Equipment | 2.8% | 5.0% |
| IT - Software | 4.4% | 5.0% |
The six largest sectors of each fund's stocks, % of the fund.
Canara Robeco ELSS - Tax Saver vs Nippon India Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Canara Robeco ELSS - Tax Saver Fund | Nippon India Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.73% | 0.89% |
| Base expense ratio (Direct) | 0.57% | 0.60% |
| Total expense ratio (Regular) | 1.85% | 1.62% |
| Base expense ratio (Regular) | 1.53% | 1.23% |
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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Canara Robeco ELSS - Tax Saver Fund vs Nippon India Multi Cap Fund: Frequently Asked Questions
What is the difference between Canara Robeco ELSS - Tax Saver Fund and Nippon India Multi Cap Fund?
Canara Robeco ELSS - Tax Saver Fund is an ELSS fund, Nippon India Multi Cap Fund is a Multi Cap fund, run by Canara Robeco Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 40.4%. Canara Robeco ELSS - Tax Saver Fund charges 0.73% a year and Nippon India Multi Cap Fund 0.89%.
Which has given higher returns, Canara Robeco ELSS - Tax Saver Fund or Nippon India Multi Cap Fund?
Over 1 year: Canara Robeco ELSS - Tax Saver Fund −4.70%, Nippon India Multi Cap Fund −8.14%. Over 3 years: Canara Robeco ELSS - Tax Saver Fund +11.47% a year, Nippon India Multi Cap Fund +11.87% a year. Over 5 years: Canara Robeco ELSS - Tax Saver Fund +9.00% a year, Nippon India Multi Cap Fund +14.92% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Canara Robeco ELSS - Tax Saver Fund or Nippon India Multi Cap Fund?
Canara Robeco ELSS - Tax Saver Fund charges less: 0.73% a year against 0.89%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Canara Robeco ELSS - Tax Saver Fund and Nippon India Multi Cap Fund overlap?
40.4%. They hold 34 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, INFY. From each fund's latest monthly portfolio.
Which is riskier, Canara Robeco ELSS - Tax Saver Fund or Nippon India Multi Cap Fund?
On SEBI's riskometer, Canara Robeco ELSS - Tax Saver Fund is rated Very High and Nippon India Multi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 13.48% and 14.32% a year.
Which is better for SIP, Canara Robeco ELSS - Tax Saver Fund or Nippon India Multi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,57,519 in Canara Robeco ELSS - Tax Saver Fund (XIRR 8.5% a year) and ₹8,13,687 in Nippon India Multi Cap Fund (XIRR 11.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Canara Robeco ELSS - Tax Saver Fund and Nippon India Multi Cap Fund?
Yes. 40.4% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Canara Robeco ELSS - Tax Saver Fund and Nippon India Multi Cap Fund?
Canara Robeco ELSS - Tax Saver Fund: Vishal Mishra / Mr. Shridatta Bhandwaldar. Nippon India Multi Cap Fund: Sailesh Raj Bhan, Yatin Matta.
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.