DSP Focused Fund vs UTI ELSS Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Focused Fund is a Focused fund and UTI ELSS Tax Saver Fund is an ELSS fund. In the 3 years to 30-10-2026, DSP Focused Fund (Direct) returned 12.9% a year and UTI ELSS Tax Saver Fund (Direct) returned 7.9% a year. DSP Focused Fund charges 1.10% a year and UTI ELSS Tax Saver Fund 1.19% (Direct plans). Their portfolios overlap 40.0%: they hold 13 of the same securities.
Which is better, DSP Focused or UTI ELSS Tax Saver? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Focused returned more over 5 years: 10.0% a year against 6.3%.
- DSP Focused returned more over 3 years: 12.9% a year against 7.9%.
- DSP Focused costs less: 1.10% a year against 1.19% (Direct plans).
- UTI ELSS Tax Saver swung less over 3 years: a standard deviation of 12.9% a year against 14.3%.
- UTI ELSS Tax Saver fell less in its worst fall since 02-01-2013: −35.1% against −39.3%.
- UTI ELSS Tax Saver holds more in large companies: 67.9% of the fund in large caps against 54.4%.
- UTI ELSS Tax Saver is the larger fund: ₹3,253 Cr against ₹2,503 Cr.
- Their portfolios overlap 40.0%: 13 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 Focused Fund | UTI ELSS Tax Saver Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | UTI Mutual Fund |
| Category | Focused | ELSS |
| AUM | ₹2,503 Cr (30-09-2026) | ₹3,253 Cr (30-09-2026) |
| NAV | ₹59.57 (Direct) | ₹214.73 (Direct) |
| Expense ratio (Direct) | 1.10% | 1.19% |
| Expense ratio (Regular) | 2.11% | 1.96% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 10-06-2010 | 15-12-1999 |
| Minimum investment | ₹100 | Regular Plan-Growth- Rs.500, Regular Plan-Payout of IDCW- Rs.500, Direct Plan-Growth- Rs.500, Direct Plan-Payout of IDCW- Rs.500, |
| Lock in | None | 3 years |
| Fund managers | Bhavin Gandhi | Amit Premchandani FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4 |
| Exit load | Exit load of 1%, if redeemed within 1 month. | Nil |
DSP Focused vs UTI ELSS Tax Saver: 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 Focused Fund (Direct) | −0.27% | −4.92% | +1.21% | −4.40% | +12.91% | +10.04% | +11.47% |
| UTI ELSS Tax Saver Fund (Direct) | −0.44% | −6.30% | −2.70% | −9.13% | +7.90% | +6.27% | +11.37% |
| Focused average | −1.00% | −4.12% | +1.39% | −3.09% | +12.30% | +10.21% | +13.15% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
Category average: the average of the 28 Focused funds and the 50 ELSS funds, same plan type.
DSP Focused vs UTI ELSS Tax Saver: Year-wise Returns
| Year | DSP FocusedDSP Focused | UTI ELSS Tax SaverUTI ELSS Tax Saver | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −5.42% | −9.30% | −7.51% |
| 2025 | +8.50% | +5.57% | +7.76% |
| 2024 | +19.79% | +15.08% | +16.24% |
| 2023 | +35.59% | +25.54% | +26.91% |
| 2022 | −3.43% | −2.51% | +4.25% |
| 2021 | +23.57% | +34.37% | +31.60% |
DSP Focused vs UTI ELSS Tax Saver: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,668 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.
DSP Focused Fund (Direct)
UTI ELSS Tax Saver Fund (Direct)
Nifty 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Focused | 2.1 | 4.6 | 14.4 | 28.6 | 34.7 | 13.4 | 2.2 | 14.5% | 15.1% | −6.6% | 29.3% | 41% |
| UTI ELSS Tax Saver | 1.7 | 4.2 | 12.6 | 38.5 | 28.8 | 12.5 | 1.5 | 14.2% | 14.1% | −5.1% | 30.3% | 42% |
| Nifty 500 TRI | 1.9 | 4.3 | 7.8 | 37.1 | 34.7 | 11.3 | 2.9 | 14.7% | 14.9% | −6.3% | 33.5% | -- |
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 02-01-2013. Past returns do not promise future returns.
DSP Focused vs UTI ELSS Tax Saver: 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 |
|---|---|---|---|---|
| DSP FocusedDSP Focused Fund (Direct) | ₹16,60,000 | ₹42,36,674 | ₹25,76,674 | 12.6% |
| UTI ELSS Tax SaverUTI ELSS Tax Saver Fund (Direct) | ₹16,60,000 | ₹39,08,378 | ₹22,48,378 | 11.6% |
DSP FocusedDSP Focused Fund (Direct)
UTI ELSS Tax SaverUTI ELSS Tax Saver 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 Focused vs UTI ELSS Tax Saver: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Focused Fund (Direct) | UTI ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | −4.40% | −9.13% |
| Standard deviation | 14.01% | 13.48% |
| Sharpe ratio | -0.69 | -1.07 |
| Sortino ratio | -0.95 | -1.42 |
| Maximum drawdown | −15.3% (23-03-2026) | −15.2% (31-03-2026) |
| Beta | 0.93 | 0.92 |
| Alpha | +2.10% | −2.82% |
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 Focused Fund (Direct) | UTI ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.91% | +7.90% |
| Standard deviation | 14.32% | 12.92% |
| Sharpe ratio | 0.48 | 0.15 |
| Sortino ratio | 0.66 | 0.20 |
| Maximum drawdown | −15.8% (28-02-2025) | −18.6% (28-02-2025) |
| Beta | 0.95 | 0.88 |
| Alpha | +2.88% | −1.80% |
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 Focused Fund (Direct) | UTI ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.04% | +6.27% |
| Standard deviation | 13.95% | 13.31% |
| Sharpe ratio | 0.30 | 0.04 |
| Sortino ratio | 0.41 | 0.05 |
| Maximum drawdown | −20.7% (20-06-2022) | −21.3% (17-06-2022) |
| Beta | 0.91 | 0.90 |
| Alpha | +1.49% | −2.24% |
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 Focused Fund (Direct) | UTI ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.72% | +12.44% |
| Standard deviation | 16.21% | 14.96% |
| Sharpe ratio | 0.41 | 0.43 |
| Sortino ratio | 0.56 | 0.57 |
| Maximum drawdown | −39.3% (23-03-2020) | −35.1% (23-03-2020) |
| Beta | 0.97 | 0.92 |
| Alpha | +0.11% | +0.16% |
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 Focused Fund (Direct)
UTI ELSS Tax Saver 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 Focused Fund (Direct) | −39.3% | 17-01-2020 | 23-03-2020 | 23-11-2020 | 8 months | −6.8% |
| UTI ELSS Tax Saver Fund (Direct) | −35.1% | 12-02-2020 | 23-03-2020 | 05-11-2020 | 7 months | −12.9% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
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.
DSP Focused Fund (Direct)
UTI ELSS Tax Saver 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 Focused Fund (Direct)
UTI ELSS Tax Saver 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 Focused Fund (Direct)
UTI ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Focused Fund (Direct) | 99% | 96% | 5.44% |
| UTI ELSS Tax Saver Fund (Direct) | 95% | 94% | 3.43% |
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.
DSP Focused vs UTI ELSS Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Focused Fund, September 2026; UTI ELSS Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 40.0%
- Held by both
- 13
- Only in DSP Focused
- 16
- Only in UTI ELSS Tax Saver
- 47
| Security | % of DSP Focused | % of UTI ELSS Tax Saver |
|---|---|---|
| HDFC Bank Limited | 8.87% | 8.11% |
| ICICI Bank Limited | 9.46% | 7.11% |
| Bharti Airtel Limited | 3.90% | 4.32% |
| Axis Bank Limited | 5.05% | 3.70% |
| Mahindra & Mahindra Limited | 3.78% | 2.49% |
| State Bank of India | 3.17% | 2.36% |
| Infosys Limited | 2.25% | 2.44% |
| Bajaj Finance Limited | 2.24% | 2.95% |
| Tech Mahindra Limited | 2.27% | 2.08% |
| Phoenix Mills Limited | 3.75% | 1.99% |
| Cholamandalam Investment and Finance Co Limited | 3.35% | 1.37% |
| Samvardhana Motherson International Limited | 2.54% | 1.28% |
| Polycab India Limited | 1.16% | 1.23% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.0% means 40.0% 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 Focused Fund
| Security | % of fund |
|---|---|
| SBI Life Insurance Co Limited | 3.81% |
| Coromandel International Limited | 3.01% |
| Hero MotoCorp Limited | 2.74% |
| Kirloskar Oil Engines Limited | 2.73% |
| Coforge Limited | 2.63% |
Largest holdings only in UTI ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| EQ - KOTAK MAHINDRA BANK LTD. | 4.49% |
| EQ - RELIANCE INDUSTRIES LTD. | 2.74% |
| EQ - TATA STEEL LTD. | 2.21% |
| EQ - AJANTA PHARMA LTD. | 2.07% |
| EQ - MARUTI SUZUKI INDIA LTD. | 1.84% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Focused | UTI ELSS Tax Saver |
|---|---|---|
| Equity | 88.6% | 99.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 11.4% | 1.0% |
Market cap of stocks
| Market cap | DSP Focused | UTI ELSS Tax Saver |
|---|---|---|
| Large Cap | 54.4% | 67.9% |
| Mid Cap | 20.3% | 19.0% |
| Small Cap | 13.9% | 12.1% |
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 Focused | UTI ELSS Tax Saver |
|---|---|---|
| Banks | 26.6% | 26.4% |
| IT - Software | 7.2% | 7.3% |
| Retailing | 0.0% | 6.5% |
| Automobiles | 6.5% | 5.7% |
| Capital Markets | 6.3% | 0.0% |
| Realty | 5.9% | 3.5% |
| Finance | 5.6% | 4.3% |
| Telecom - Services | 3.9% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Focused vs UTI ELSS Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Focused Fund | UTI ELSS Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.10% | 1.19% |
| Base expense ratio (Direct) | 0.85% | 0.95% |
| Total expense ratio (Regular) | 2.11% | 1.96% |
| Base expense ratio (Regular) | 1.71% | 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 DSP Focused with
DSP Focused Fund vs UTI ELSS Tax Saver Fund: Frequently Asked Questions
What is the difference between DSP Focused Fund and UTI ELSS Tax Saver Fund?
DSP Focused Fund is a Focused fund, UTI ELSS Tax Saver Fund is an ELSS fund, run by DSP Mutual Fund and UTI Mutual Fund. Their portfolios overlap 40.0%. DSP Focused Fund charges 1.10% a year and UTI ELSS Tax Saver Fund 1.19%.
Which has given higher returns, DSP Focused Fund or UTI ELSS Tax Saver Fund?
Over 1 year: DSP Focused Fund −4.40%, UTI ELSS Tax Saver Fund −9.13%. Over 3 years: DSP Focused Fund +12.91% a year, UTI ELSS Tax Saver Fund +7.90% a year. Over 5 years: DSP Focused Fund +10.04% a year, UTI ELSS Tax Saver Fund +6.27% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Focused Fund or UTI ELSS Tax Saver Fund?
DSP Focused Fund charges less: 1.10% a year against 1.19%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Focused Fund and UTI ELSS Tax Saver Fund overlap?
40.0%. They hold 13 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, DSP Focused Fund or UTI ELSS Tax Saver Fund?
On SEBI's riskometer, DSP Focused Fund is rated Very High and UTI ELSS Tax Saver Fund Very High. Over 3 years, the standard deviation of daily returns was 14.32% and 12.92% a year.
Which is better for SIP, DSP Focused Fund or UTI ELSS Tax Saver Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,86,293 in DSP Focused Fund (XIRR 9.9% a year) and ₹6,99,861 in UTI ELSS Tax Saver Fund (XIRR 5.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both DSP Focused Fund and UTI ELSS Tax Saver Fund?
Yes. 40.0% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages DSP Focused Fund and UTI ELSS Tax Saver Fund?
DSP Focused Fund: Bhavin Gandhi. UTI ELSS Tax Saver Fund: Amit Premchandani FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4.
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.