DSP ELSS Tax Saver Fund vs DSP Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP ELSS Tax Saver Fund is an ELSS fund and DSP Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, DSP ELSS Tax Saver Fund (Direct) returned 13.0% a year and DSP Value Fund (Direct) returned 16.3% a year. DSP ELSS Tax Saver Fund charges 0.91% a year and DSP Value Fund 1.53% (Direct plans). Their portfolios overlap 51.0%: they hold 29 of the same securities.
DSP ELSS Tax Saver Fund
ELSS
- 3 year return
- 13.0%
- Expense ratio
- 0.91%
- NAV
- ₹147.63
Which is better, DSP ELSS Tax Saver or DSP Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Value returned more over 5 years: 12.3% a year against 10.9%.
- DSP Value returned more over 3 years: 16.3% a year against 13.0%.
- DSP ELSS Tax Saver costs less: 0.91% a year against 1.53% (Direct plans).
- DSP Value swung less over 3 years: a standard deviation of 10.4% a year against 14.0%.
- DSP Value fell less in its worst fall since 11-12-2020: −16.4% against −17.1%.
- DSP Value holds 12.8% of the fund in foreign stocks; DSP ELSS Tax Saver 0.0%.
- DSP ELSS Tax Saver holds more in large companies: 76.1% of the fund in large caps against 62.0%.
- DSP ELSS Tax Saver is the larger fund: ₹15,569 Cr against ₹2,225 Cr.
- Their portfolios overlap 51.0%: 29 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 | DSP ELSS Tax Saver Fund | DSP Value Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | DSP Mutual Fund |
| Category | ELSS | Value and Contra |
| AUM | ₹15,569 Cr (30-09-2026) | ₹2,225 Cr (30-09-2026) |
| NAV | ₹147.63 (Direct) | ₹23.73 (Direct) |
| Expense ratio (Direct) | 0.91% | 1.53% |
| Expense ratio (Regular) | 1.80% | 2.40% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 18-01-2007 | 10-12-2020 |
| Minimum investment | ₹500 | ₹100 |
| Lock in | 3 years | None |
| Fund managers | Rohit Singhania | Abhishek Singh, Kaivalya Nadkarni |
| Exit load | Nil | Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 1 months. |
DSP ELSS Tax Saver vs DSP Value: 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 |
|---|---|---|---|---|---|---|---|
| DSP ELSS Tax Saver Fund (Direct) | +0.35% | −5.64% | −2.65% | −6.86% | +13.04% | +10.90% | +14.11% |
| DSP Value Fund (Direct) | −0.43% | −4.38% | −1.65% | +0.33% | +16.31% | +12.31% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | -- |
Category average: the average of the 50 ELSS funds and the 30 Value and Contra funds, same plan type.
DSP ELSS Tax Saver vs DSP Value: Year-wise Returns
| Year | ELSS Tax SaverDSP ELSS Tax Saver | ValueDSP Value | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −8.80% | −0.94% | −7.51% |
| 2025 | +8.50% | +12.40% | +7.76% |
| 2024 | +25.04% | +21.81% | +16.24% |
| 2023 | +31.19% | +30.91% | +26.91% |
| 2022 | +5.51% | −1.80% | +4.25% |
| 2021 | +36.41% | +31.97% | +31.60% |
DSP ELSS Tax Saver vs DSP Value: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 711 of them, one for each trading day from 11-12-2023 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.
DSP ELSS Tax Saver Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
to
Mar 2024Aug 2021
to
Aug 2024Feb 2022
to
Feb 2025Aug 2022
to
Aug 2025Feb 2023
to
Feb 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP ELSS Tax Saver | 0.0 | 0.0 | 0.0 | 5.9 | 34.5 | 57.5 | 2.1 | 20.0% | 20.6% | 11.3% | 26.7% | 100% |
| DSP Value | 0.0 | 0.0 | 0.0 | 1.3 | 70.0 | 28.8 | 0.0 | 18.7% | 18.6% | 13.2% | 23.8% | 78% |
| Nifty 500 TRI | 0.0 | 0.0 | 2.7 | 26.6 | 59.1 | 11.7 | 0.0 | 16.4% | 16.5% | 8.8% | 22.3% | -- |
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 11-12-2020. Past returns do not promise future returns.
DSP ELSS Tax Saver vs DSP Value: 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 01-12-2020 to 30-10-2026: 71 instalments, ₹7,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP ELSS Tax SaverDSP ELSS Tax Saver Fund (Direct) | ₹7,10,000 | ₹9,88,210 | ₹2,78,210 | 11.1% |
| DSP ValueDSP Value Fund (Direct) | ₹7,10,000 | ₹10,50,424 | ₹3,40,424 | 13.2% |
DSP ELSS Tax SaverDSP ELSS Tax Saver Fund (Direct)
DSP ValueDSP Value 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.
DSP ELSS Tax Saver vs DSP Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP ELSS Tax Saver Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.86% | +0.33% |
| Standard deviation | 14.04% | 10.12% |
| Sharpe ratio | -0.86 | -0.48 |
| Sortino ratio | -1.17 | -0.66 |
| Maximum drawdown | −14.8% (31-03-2026) | −8.3% (23-03-2026) |
| Beta | 0.95 | 0.66 |
| Alpha | −0.20% | +3.56% |
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 | DSP ELSS Tax Saver Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.04% | +16.31% |
| Standard deviation | 13.97% | 10.42% |
| Sharpe ratio | 0.50 | 0.99 |
| Sortino ratio | 0.69 | 1.36 |
| Maximum drawdown | −16.2% (03-03-2025) | −13.7% (07-04-2025) |
| Beta | 0.96 | 0.68 |
| Alpha | +3.01% | +7.28% |
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 | DSP ELSS Tax Saver Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.90% | +12.31% |
| Standard deviation | 13.89% | 10.48% |
| Sharpe ratio | 0.37 | 0.62 |
| Sortino ratio | 0.49 | 0.85 |
| Maximum drawdown | −16.9% (20-06-2022) | −16.4% (20-06-2022) |
| Beta | 0.94 | 0.66 |
| Alpha | +2.25% | +4.49% |
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 | DSP ELSS Tax Saver Fund (Direct) | DSP Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.89% | +15.82% |
| Standard deviation | 15.63% | 10.33% |
| Sharpe ratio | 0.63 | 1.01 |
| Sortino ratio | 0.85 | 1.40 |
| Maximum drawdown | −37.2% (23-03-2020) | −16.4% (20-06-2022) |
| Beta | 0.96 | 0.63 |
| Alpha | +3.34% | +5.42% |
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.
DSP ELSS Tax Saver Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP ELSS Tax Saver Fund (Direct) | −17.1% | 18-10-2021 | 20-06-2022 | 13-09-2022 | 3 months | −9.8% |
| DSP Value Fund (Direct) | −16.4% | 17-01-2022 | 20-06-2022 | 02-12-2022 | 5 months | −6.0% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 11-12-2020, 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.
DSP ELSS Tax Saver Fund (Direct)
DSP Value Fund (Direct)
Nifty 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.
DSP ELSS Tax Saver Fund (Direct)
DSP Value Fund (Direct)
Nifty 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.
DSP ELSS Tax Saver Fund (Direct)
DSP Value Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP ELSS Tax Saver Fund (Direct) | 103% | 87% | 3.88% |
| DSP Value Fund (Direct) | 84% | 56% | 7.41% |
From month-end values since 11-12-2020. 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.
DSP ELSS Tax Saver vs DSP Value: Portfolio Overlap
From each fund's latest monthly portfolio: DSP ELSS Tax Saver Fund, September 2026; DSP Value Fund, September 2026
Holdings in common
- Overlap
- 51.0%
- Held by both
- 29
- Only in DSP ELSS Tax Saver
- 29
- Only in DSP Value
- 18
| Security | % of DSP ELSS Tax Saver | % of DSP Value |
|---|---|---|
| HDFC Bank Limited | 8.97% | 9.45% |
| ICICI Bank Limited | 9.69% | 8.22% |
| Axis Bank Limited | 7.97% | 2.48% |
| Bharti Airtel Limited | 3.37% | 2.47% |
| Mahindra & Mahindra Limited | 2.43% | 3.29% |
| Kotak Mahindra Bank Limited | 3.89% | 2.15% |
| State Bank of India | 5.59% | 2.02% |
| Cipla Limited | 1.93% | 2.29% |
| NTPC Limited | 1.86% | 2.65% |
| Infosys Limited | 2.28% | 1.61% |
| Indus Towers Limited | 1.55% | 1.90% |
| SBI Life Insurance Co Limited | 1.53% | 2.13% |
| ITC Limited | 1.38% | 2.56% |
| Larsen & Toubro Limited | 1.52% | 1.34% |
| Maruti Suzuki India Limited | 1.19% | 2.59% |
| Emami Limited | 1.06% | 1.25% |
| Ultratech Cement Limited | 1.06% | 1.04% |
| Max Financial Services Limited | 2.06% | 1.00% |
| Alkem Laboratories Limited | 0.98% | 2.43% |
| Coromandel International Limited | 1.41% | 0.90% |
| Bharat Petroleum Corporation Limited | 1.95% | 0.84% |
| Sun Pharmaceutical Industries Limited | 1.68% | 0.84% |
| Jindal Steel Limited | 1.22% | 0.74% |
| Oil India Limited | 0.99% | 0.64% |
| Hindustan Petroleum Corporation Limited | 1.03% | 0.59% |
| Tata Motors Limited | 0.87% | 0.58% |
| IPCA Laboratories Limited | 1.43% | 0.25% |
| Alembic Pharmaceuticals Limited | 0.76% | 0.23% |
| Syngene International Limited | 0.92% | 0.18% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 51.0% means 51.0% 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 DSP ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| Reliance Industries Limited | 2.84% |
| Samvardhana Motherson International Limited | 1.61% |
| Hindustan Unilever Limited | 1.61% |
| Coforge Limited | 1.60% |
| Tata Consultancy Services Limited | 1.51% |
Largest holdings only in DSP Value Fund
| Security | % of fund |
|---|---|
| HDFC Asset Management Co Limited | 2.57% |
| Hero MotoCorp Limited | 2.30% |
| HDFC Life Insurance Co Limited | 1.99% |
| Power Grid Corporation of India Limited | 1.55% |
| Oberoi Realty Limited | 1.43% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP ELSS Tax Saver | DSP Value |
|---|---|---|
| Equity | 98.8% | 89.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.2% | 10.7% |
Market cap of stocks
| Market cap | DSP ELSS Tax Saver | DSP Value |
|---|---|---|
| Large Cap | 76.1% | 62.0% |
| Mid Cap | 15.2% | 10.7% |
| Small Cap | 7.5% | 3.8% |
| Foreign stocks | 0.0% | 12.8% |
| Not on AMFI's list | 0.1% | 0.0% |
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 | DSP ELSS Tax Saver | DSP Value |
|---|---|---|
| Banks | 37.1% | 24.3% |
| Automobiles | 4.2% | 8.8% |
| Pharmaceuticals & Biotechnology | 6.9% | 6.7% |
| Insurance | 3.6% | 6.9% |
| Petroleum Products | 5.8% | 1.4% |
| IT - Software | 5.4% | 3.3% |
| Telecom - Services | 4.9% | 4.4% |
| Finance | 4.9% | 1.1% |
| Power | 1.9% | 4.2% |
The six largest sectors of each fund's stocks, % of the fund.
DSP ELSS Tax Saver vs DSP Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP ELSS Tax Saver Fund | DSP Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.91% | 1.53% |
| Base expense ratio (Direct) | 0.68% | 0.98% |
| Total expense ratio (Regular) | 1.80% | 2.40% |
| Base expense ratio (Regular) | 1.45% | 1.72% |
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 DSP ELSS Tax Saver with
DSP ELSS Tax Saver Fund vs DSP Value Fund: Frequently Asked Questions
What is the difference between DSP ELSS Tax Saver Fund and DSP Value Fund?
DSP ELSS Tax Saver Fund is an ELSS fund, DSP Value Fund is a Value and Contra fund, run by DSP Mutual Fund. Their portfolios overlap 51.0%. DSP ELSS Tax Saver Fund charges 0.91% a year and DSP Value Fund 1.53%.
Which has given higher returns, DSP ELSS Tax Saver Fund or DSP Value Fund?
Over 1 year: DSP ELSS Tax Saver Fund −6.86%, DSP Value Fund +0.33%. Over 3 years: DSP ELSS Tax Saver Fund +13.04% a year, DSP Value Fund +16.31% a year. Over 5 years: DSP ELSS Tax Saver Fund +10.90% a year, DSP Value Fund +12.31% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP ELSS Tax Saver Fund or DSP Value Fund?
DSP ELSS Tax Saver Fund charges less: 0.91% a year against 1.53%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP ELSS Tax Saver Fund and DSP Value Fund overlap?
51.0%. They hold 29 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, DSP ELSS Tax Saver Fund or DSP Value Fund?
On SEBI's riskometer, DSP ELSS Tax Saver Fund is rated Very High and DSP Value Fund Very High. Over 3 years, the standard deviation of daily returns was 13.97% and 10.42% a year.
Which is better for SIP, DSP ELSS Tax Saver Fund or DSP Value Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,81,832 in DSP ELSS Tax Saver Fund (XIRR 9.7% a year) and ₹8,42,999 in DSP Value Fund (XIRR 12.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP ELSS Tax Saver Fund and DSP Value Fund?
Yes. 51.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages DSP ELSS Tax Saver Fund and DSP Value Fund?
DSP ELSS Tax Saver Fund: Rohit Singhania. DSP Value Fund: Abhishek Singh, Kaivalya Nadkarni.
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.