Franklin India ELSS Tax Saver Fund vs Franklin India Equity Savings Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India ELSS Tax Saver Fund is an ELSS fund and Franklin India Equity Savings Fund is an Equity Savings fund. In the 3 years to 30-10-2026, Franklin India ELSS Tax Saver Fund (Direct) returned 10.3% a year and Franklin India Equity Savings Fund (Direct) returned 7.3% a year. Franklin India ELSS Tax Saver Fund charges 1.15% a year and Franklin India Equity Savings Fund 0.82% (Direct plans). Their portfolios overlap 37.9%: they hold 24 of the same securities.
Franklin India ELSS Tax Saver Fund
ELSS
- 3 year return
- 10.3%
- Expense ratio
- 1.15%
- NAV
- ₹1,532.38
Franklin India Equity Savings Fund
Equity Savings
- 3 year return
- 7.3%
- Expense ratio
- 0.82%
- NAV
- ₹18.75
Which is better, Franklin India ELSS Tax Saver or Franklin India Equity Savings? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Franklin India ELSS Tax Saver returned more over 5 years: 10.1% a year against 6.8%.
- Franklin India ELSS Tax Saver returned more over 3 years: 10.3% a year against 7.3%.
- Franklin India Equity Savings costs less: 0.82% a year against 1.15% (Direct plans).
- Franklin India Equity Savings swung less over 3 years: a standard deviation of 2.6% a year against 13.4%.
- Franklin India Equity Savings fell less in its worst fall since 27-08-2018: −16.7% against −39.0%.
- Franklin India ELSS Tax Saver holds more in large companies: 73.9% of the fund in large caps against 60.3%.
- Franklin India ELSS Tax Saver is the larger fund: ₹5,839 Cr against ₹560 Cr.
- Their portfolios overlap 37.9%: 24 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 | Franklin India ELSS Tax Saver Fund | Franklin India Equity Savings Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Franklin Templeton Mutual Fund |
| Category | ELSS | Equity Savings |
| AUM | ₹5,839 Cr (30-09-2026) | ₹560 Cr (30-09-2026) |
| NAV | ₹1,532.38 (Direct) | ₹18.75 (Direct) |
| Expense ratio (Direct) | 1.15% | 0.82% |
| Expense ratio (Regular) | 1.93% | 1.61% |
| Riskometer | Not available | Not available |
| Benchmark | Nifty 500 TRI | Nifty Equity Savings Index |
| Launch date | 10-04-1999 | 27-08-2018 |
| Minimum investment | 500/500 | 5000/1 |
| Lock in | 3 years | None |
| Fund managers | Janakiraman Rengaraju, Rajasa Kakulavarapu | Rajasa Kakulavarapu, Venkatesh Sanjeevi, Anuj Tagra, Rohan Maru, Sandeep Manam |
| Exit load | Nil | Nil |
Franklin India ELSS Tax Saver vs Franklin India Equity Savings: 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 |
|---|---|---|---|---|---|---|---|
| Franklin India ELSS Tax Saver Fund (Direct) | +0.54% | −5.02% | −1.80% | −9.53% | +10.26% | +10.08% | +12.22% |
| Franklin India Equity Savings Fund (Direct) | +0.67% | +0.05% | +2.06% | +2.60% | +7.30% | +6.80% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Equity Savings average | −0.02% | −0.68% | +1.71% | +2.12% | +8.55% | +7.55% | -- |
Category average: the average of the 50 ELSS funds and the 23 Equity Savings funds, same plan type.
Franklin India ELSS Tax Saver vs Franklin India Equity Savings: Year-wise Returns
| Year | ELSS Tax SaverFranklin India ELSS Tax Saver | Equity SavingsFranklin India Equity Savings |
|---|---|---|
| 2026to date | −8.42% | +1.86% |
| 2025 | +2.85% | +6.73% |
| 2024 | +23.42% | +9.79% |
| 2023 | +32.36% | +11.14% |
| 2022 | +6.27% | +4.99% |
| 2021 | +37.85% | +14.71% |
Franklin India ELSS Tax Saver vs Franklin India Equity Savings: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Franklin India ELSS Tax Saver Fund
Rolling returns
Every 3-year holding period, 1,274 of them, one for each trading day from 27-08-2021 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.
Franklin India ELSS Tax Saver Fund (Direct)
Franklin India Equity Savings Fund (Direct)
Nifty 500 TRI
to
Jan 2022Dec 2019
to
Dec 2022Oct 2020
to
Oct 2023Sept 2021
to
Sept 2024Aug 2022
to
Aug 2025May 2023
to
May 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin India ELSS Tax Saver | 0.0 | 0.0 | 1.6 | 13.7 | 42.1 | 28.2 | 14.4 | 20.0% | 19.3% | 8.5% | 35.1% | 74% |
| Franklin India Equity Savings | 0.0 | 0.0 | 63.0 | 36.6 | 0.5 | 0.0 | 0.0 | 9.9% | 9.5% | 6.9% | 15.8% | 0% |
| Nifty 500 TRI | 0.0 | 0.0 | 1.5 | 18.7 | 53.0 | 20.8 | 6.0 | 18.1% | 17.9% | 8.8% | 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 27-08-2018. Past returns do not promise future returns.
Franklin India ELSS Tax Saver vs Franklin India Equity Savings: 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 01-08-2018 to 30-10-2026: 99 instalments, ₹9,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin India ELSS Tax SaverFranklin India ELSS Tax Saver Fund (Direct) | ₹9,90,000 | ₹17,23,854 | ₹7,33,854 | 13.1% |
| Franklin India Equity SavingsFranklin India Equity Savings Fund (Direct) | ₹9,90,000 | ₹13,93,027 | ₹4,03,027 | 8.1% |
Franklin India ELSS Tax SaverFranklin India ELSS Tax Saver Fund (Direct)
Franklin India Equity SavingsFranklin India Equity Savings 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.
Franklin India ELSS Tax Saver vs Franklin India Equity Savings: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Franklin India ELSS Tax Saver Fund (Direct) | Franklin India Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.53% | +2.60% |
| Standard deviation | 13.72% | 2.85% |
| Sharpe ratio | -1.08 | -0.93 |
| Sortino ratio | -1.44 | -1.23 |
| Maximum drawdown | −14.9% (31-03-2026) | −2.1% (30-03-2026) |
| Beta | 0.93 | -- |
| Alpha | −3.03% | -- |
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 | Franklin India ELSS Tax Saver Fund (Direct) | Franklin India Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.26% | +7.30% |
| Standard deviation | 13.41% | 2.59% |
| Sharpe ratio | 0.32 | 0.49 |
| Sortino ratio | 0.43 | 0.68 |
| Maximum drawdown | −16.7% (28-02-2025) | −2.1% (30-03-2026) |
| Beta | 0.92 | -- |
| Alpha | +0.37% | -- |
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 | Franklin India ELSS Tax Saver Fund (Direct) | Franklin India Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.08% | +6.80% |
| Standard deviation | 13.77% | 3.78% |
| Sharpe ratio | 0.31 | 0.27 |
| Sortino ratio | 0.42 | 0.36 |
| Maximum drawdown | −17.7% (20-06-2022) | −5.8% (20-06-2022) |
| Beta | 0.94 | -- |
| Alpha | +1.45% | -- |
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 | Franklin India ELSS Tax Saver Fund (Direct) | Franklin India Equity Savings Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.26% | +8.00% |
| Standard deviation | 15.10% | 5.78% |
| Sharpe ratio | 0.54 | 0.47 |
| Sortino ratio | 0.74 | 0.63 |
| Maximum drawdown | −39.0% (23-03-2020) | −16.7% (24-03-2020) |
| Beta | 0.92 | -- |
| Alpha | +1.92% | -- |
From daily NAVs, 01-01-2013 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.
Franklin India ELSS Tax Saver Fund (Direct)
Franklin India Equity Savings Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Franklin India ELSS Tax Saver Fund (Direct) | −39.0% | 17-01-2020 | 23-03-2020 | 18-11-2020 | 8 months | −11.1% |
| Franklin India Equity Savings Fund (Direct) | −16.7% | 06-02-2020 | 24-03-2020 | 27-08-2020 | 5 months | −0.7% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 27-08-2018, 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.
Franklin India ELSS Tax Saver Fund (Direct)
Franklin India Equity Savings 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.
Franklin India ELSS Tax Saver Fund (Direct)
Franklin India Equity Savings 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.
Franklin India ELSS Tax Saver Fund (Direct)
Franklin India Equity Savings Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Franklin India ELSS Tax Saver Fund (Direct) | 99% | 95% | 4.12% |
| Franklin India Equity Savings Fund (Direct) | 40% | 21% | 12.42% |
From month-end values since 27-08-2018. 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.
Franklin India ELSS Tax Saver vs Franklin India Equity Savings: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India ELSS Tax Saver Fund, September 2026; Franklin India Equity Savings Fund, September 2026
Holdings in common
- Overlap
- 37.9%
- Held by both
- 24
- Only in Franklin India ELSS Tax Saver
- 26
- Only in Franklin India Equity Savings
- 35
| Security | % of Franklin India ELSS Tax Saver | % of Franklin India Equity Savings |
|---|---|---|
| Axis Bank Ltd | 5.20% | 6.45% |
| Bharti Airtel Ltd | 3.28% | 4.50% |
| Kotak Mahindra Bank Ltd | 3.12% | 4.10% |
| Mahindra & Mahindra Ltd | 3.04% | 3.63% |
| Reliance Industries Ltd | 2.99% | 2.85% |
| Apollo Hospitals Enterprise Ltd | 2.54% | 2.24% |
| NTPC Ltd | 1.92% | 4.15% |
| Hindustan Aeronautics Ltd | 1.91% | 3.88% |
| ICICI Bank Ltd | 7.47% | 1.52% |
| Tata Power Co Ltd | 1.84% | 1.45% |
| Larsen & Toubro Ltd | 4.62% | 1.44% |
| Eternal Ltd | 4.11% | 1.20% |
| Cipla Ltd | 1.85% | 1.20% |
| Meesho Ltd | 1.17% | 1.38% |
| HDFC Bank Ltd | 5.78% | 1.00% |
| Infosys Ltd | 3.25% | 1.00% |
| State Bank of India | 4.66% | 0.77% |
| Britannia Industries Ltd | 1.60% | 0.69% |
| HCL Technologies Ltd | 2.00% | 0.61% |
| Pine Labs Ltd | 1.43% | 0.61% |
| Bharat Electronics Ltd | 2.63% | 0.53% |
| Cholamandalam Investment and Finance Co Ltd | 0.70% | 0.49% |
| Marico Ltd | 2.33% | 0.46% |
| Asian Paints Ltd | 1.00% | 0.21% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 37.9% means 37.9% 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 Franklin India ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| Kirloskar Oil Engines Ltd | 2.26% |
| Interglobe Aviation Ltd | 1.68% |
| Tata Steel Ltd | 1.59% |
| Grasim Industries Ltd | 1.52% |
| Shree Cement Ltd | 1.47% |
Largest holdings only in Franklin India Equity Savings Fund
| Security | % of fund |
|---|---|
| 0.00% Jubilant Bevco Ltd (31-May-2028) | 4.67% |
| Titan Co Ltd | 3.37% |
| 91 DTB (22-Oct-2026) | 2.67% |
| 7.21% Embassy Office Parks Reit (17-Mar-2028) | 2.65% |
| Vodafone Idea Ltd | 2.23% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India ELSS Tax Saver | Franklin India Equity Savings |
|---|---|---|
| Equity | 93.8% | 67.3% |
| Debt | 0.3% | 18.4% |
| Cash and others | 5.9% | 14.3% |
Market cap of stocks
| Market cap | Franklin India ELSS Tax Saver | Franklin India Equity Savings |
|---|---|---|
| Large Cap | 73.9% | 60.3% |
| Mid Cap | 12.2% | 4.0% |
| Small Cap | 7.7% | 3.1% |
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 | Franklin India ELSS Tax Saver | Franklin India Equity Savings |
|---|---|---|
| Banks | 26.2% | 18.1% |
| Telecom - Services | 3.3% | 7.7% |
| IT - Software | 5.8% | 1.6% |
| Power | 3.8% | 5.6% |
| Retailing | 5.6% | 2.6% |
| Construction | 4.6% | 1.4% |
| Aerospace & Defense | 4.5% | 4.4% |
| Automobiles | 3.0% | 4.2% |
| Petroleum Products | 4.0% | 3.4% |
| Consumer Durables | 3.2% | 3.6% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India ELSS Tax Saver vs Franklin India Equity Savings: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India ELSS Tax Saver Fund | Franklin India Equity Savings Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.15% | 0.82% |
| Base expense ratio (Direct) | 0.90% | 0.32% |
| Total expense ratio (Regular) | 1.93% | 1.61% |
| Base expense ratio (Regular) | 1.58% | 1.00% |
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 Franklin India Equity Savings with
Franklin India ELSS Tax Saver Fund vs Franklin India Equity Savings Fund: Frequently Asked Questions
What is the difference between Franklin India ELSS Tax Saver Fund and Franklin India Equity Savings Fund?
Franklin India ELSS Tax Saver Fund is an ELSS fund, Franklin India Equity Savings Fund is an Equity Savings fund, run by Franklin Templeton Mutual Fund. Their portfolios overlap 37.9%. Franklin India ELSS Tax Saver Fund charges 1.15% a year and Franklin India Equity Savings Fund 0.82%.
Which has given higher returns, Franklin India ELSS Tax Saver Fund or Franklin India Equity Savings Fund?
Over 1 year: Franklin India ELSS Tax Saver Fund −9.53%, Franklin India Equity Savings Fund +2.60%. Over 3 years: Franklin India ELSS Tax Saver Fund +10.26% a year, Franklin India Equity Savings Fund +7.30% a year. Over 5 years: Franklin India ELSS Tax Saver Fund +10.08% a year, Franklin India Equity Savings Fund +6.80% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Franklin India ELSS Tax Saver Fund or Franklin India Equity Savings Fund?
Franklin India Equity Savings Fund charges less: 0.82% a year against 1.15%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India ELSS Tax Saver Fund and Franklin India Equity Savings Fund overlap?
37.9%. They hold 24 of the same securities, the largest shared ones being AXISBANK, BHARTIARTL, KOTAKBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Franklin India ELSS Tax Saver Fund or Franklin India Equity Savings Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,53,833 in Franklin India ELSS Tax Saver Fund (XIRR 8.3% a year) and ₹7,25,783 in Franklin India Equity Savings Fund (XIRR 6.8% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Franklin India ELSS Tax Saver Fund and Franklin India Equity Savings Fund?
Yes. 37.9% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Franklin India ELSS Tax Saver Fund and Franklin India Equity Savings Fund?
Franklin India ELSS Tax Saver Fund: Janakiraman Rengaraju, Rajasa Kakulavarapu. Franklin India Equity Savings Fund: Rajasa Kakulavarapu, Venkatesh Sanjeevi, Anuj Tagra, Rohan Maru, Sandeep Manam.
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.