Franklin India ELSS Tax Saver Fund vs Franklin India Retirement Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India ELSS Tax Saver Fund is an ELSS fund and Franklin India Retirement Fund is a Solution fund. In the 3 years to 30-10-2026, Franklin India ELSS Tax Saver Fund (Direct) returned 10.3% a year and Franklin India Retirement Fund (Direct) returned 7.3% a year. Franklin India ELSS Tax Saver Fund charges 1.15% a year and Franklin India Retirement Fund 1.52% (Direct plans). Their portfolios overlap 22.8%: they hold 25 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 Retirement Fund
Solution
- 3 year return
- 7.3%
- Expense ratio
- 1.52%
- NAV
- ₹235.73
Which is better, Franklin India ELSS Tax Saver or Franklin India Retirement? 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 6.6%.
- Franklin India ELSS Tax Saver returned more over 3 years: 10.3% a year against 7.3%.
- Franklin India ELSS Tax Saver costs less: 1.15% a year against 1.52% (Direct plans).
- Franklin India Retirement swung less over 3 years: a standard deviation of 5.4% a year against 13.4%.
- Franklin India Retirement fell less in its worst fall since 01-01-2013: −13.8% against −39.0%.
- Franklin India ELSS Tax Saver holds more in large companies: 73.9% of the fund in large caps against 20.9%.
- Franklin India ELSS Tax Saver is the larger fund: ₹5,839 Cr against ₹479 Cr.
- Their portfolios overlap 22.8%: 25 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 Retirement Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Franklin Templeton Mutual Fund |
| Category | ELSS | Solution |
| AUM | ₹5,839 Cr (30-09-2026) | ₹479 Cr (30-09-2026) |
| NAV | ₹1,532.38 (Direct) | ₹235.73 (Direct) |
| Expense ratio (Direct) | 1.15% | 1.52% |
| Expense ratio (Regular) | 1.93% | 2.25% |
| Riskometer | Not available | Not available |
| Benchmark | Nifty 500 TRI | CRISIL Short Term Debt Hybrid 60+40 Index |
| Launch date | 10-04-1999 | 31-03-1997 |
| Minimum investment | 500/500 | 500/1 |
| Lock in | 3 years | 5 years, or until retirement if earlier |
| Fund managers | Janakiraman Rengaraju, Rajasa Kakulavarapu | Anuj Tagra, Chandni Gupta, Rajasa Kakulavarapu, Ajay Argal |
| Exit load | Nil | 3% if redeemed before the age of 58 years (subject to lock-in period) and target amount. Nil, if redeemed after the age of 58 years |
Franklin India ELSS Tax Saver vs Franklin India Retirement: 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 Retirement Fund (Direct) | −0.79% | −2.49% | −0.61% | −3.40% | +7.27% | +6.59% | +7.54% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
Category average: the average of the 50 ELSS funds, same plan type.
Franklin India ELSS Tax Saver vs Franklin India Retirement: Year-wise Returns
| Year | ELSS Tax SaverFranklin India ELSS Tax Saver | RetirementFranklin India Retirement |
|---|---|---|
| 2026to date | −8.42% | −3.21% |
| 2025 | +2.85% | +5.10% |
| 2024 | +23.42% | +13.46% |
| 2023 | +32.36% | +14.93% |
| 2022 | +6.27% | +4.34% |
| 2021 | +37.85% | +10.57% |
Franklin India ELSS Tax Saver vs Franklin India Retirement: 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, 2,667 of them, one for each trading day from 01-01-2016 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.
Franklin India ELSS Tax Saver Fund (Direct)
Franklin India Retirement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Franklin India ELSS Tax Saver | 5.0 | 2.7 | 12.0 | 24.2 | 24.9 | 20.8 | 10.5 | 16.0% | 17.1% | −8.6% | 35.1% | 54% |
| Franklin India Retirement | 0.0 | 4.3 | 51.3 | 35.2 | 9.0 | 0.2 | 0.0 | 10.0% | 9.6% | 2.6% | 20.9% | 17% |
| Nifty 500 TRI | 1.9 | 4.3 | 7.8 | 37.0 | 34.8 | 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 01-01-2013. Past returns do not promise future returns.
Franklin India ELSS Tax Saver vs Franklin India Retirement: 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 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Franklin India ELSS Tax SaverFranklin India ELSS Tax Saver Fund (Direct) | ₹16,60,000 | ₹44,72,520 | ₹28,12,520 | 13.3% |
| Franklin India RetirementFranklin India Retirement Fund (Direct) | ₹16,60,000 | ₹30,32,569 | ₹13,72,569 | 8.3% |
Franklin India ELSS Tax SaverFranklin India ELSS Tax Saver Fund (Direct)
Franklin India RetirementFranklin India Retirement 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 Retirement: 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 Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.53% | −3.40% |
| Standard deviation | 13.72% | 5.41% |
| Sharpe ratio | -1.08 | -1.60 |
| Sortino ratio | -1.44 | -2.07 |
| Maximum drawdown | −14.9% (31-03-2026) | −5.9% (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 Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.26% | +7.27% |
| Standard deviation | 13.41% | 5.41% |
| Sharpe ratio | 0.32 | 0.23 |
| Sortino ratio | 0.43 | 0.31 |
| Maximum drawdown | −16.7% (28-02-2025) | −5.9% (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 Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.08% | +6.59% |
| Standard deviation | 13.77% | 5.47% |
| Sharpe ratio | 0.31 | 0.14 |
| Sortino ratio | 0.42 | 0.19 |
| Maximum drawdown | −17.7% (20-06-2022) | −7.4% (17-06-2022) |
| 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 Retirement Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.26% | +9.37% |
| Standard deviation | 15.10% | 6.13% |
| Sharpe ratio | 0.54 | 0.54 |
| Sortino ratio | 0.74 | 0.73 |
| Maximum drawdown | −39.0% (23-03-2020) | −13.8% (23-03-2020) |
| 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 Retirement 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 Retirement Fund (Direct) | −13.8% | 19-02-2020 | 23-03-2020 | 21-10-2020 | 7 months | −3.8% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 01-01-2013, 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.
Franklin India ELSS Tax Saver Fund (Direct)
Franklin India Retirement 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 Retirement 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 Retirement Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Franklin India ELSS Tax Saver Fund (Direct) | 98% | 88% | 4.24% |
| Franklin India Retirement Fund (Direct) | 49% | 32% | 10.69% |
From month-end values since 01-01-2013. 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.
Franklin India ELSS Tax Saver vs Franklin India Retirement: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India ELSS Tax Saver Fund, September 2026; Franklin India Retirement Fund, September 2026
Holdings in common
- Overlap
- 22.8%
- Held by both
- 25
- Only in Franklin India ELSS Tax Saver
- 25
- Only in Franklin India Retirement
- 38
| Security | % of Franklin India ELSS Tax Saver | % of Franklin India Retirement |
|---|---|---|
| Axis Bank Ltd | 5.20% | 1.71% |
| State Bank of India | 4.66% | 1.60% |
| ICICI Bank Ltd | 7.47% | 1.60% |
| HDFC Bank Ltd | 5.78% | 1.48% |
| Eternal Ltd | 4.11% | 1.34% |
| Bharti Airtel Ltd | 3.28% | 1.28% |
| Larsen & Toubro Ltd | 4.62% | 1.18% |
| Infosys Ltd | 3.25% | 1.17% |
| Mahindra & Mahindra Ltd | 3.04% | 1.17% |
| Bharat Electronics Ltd | 2.63% | 1.17% |
| Kirloskar Oil Engines Ltd | 2.26% | 0.96% |
| Reliance Industries Ltd | 2.99% | 0.87% |
| Cipla Ltd | 1.85% | 0.76% |
| Tata Power Co Ltd | 1.84% | 0.75% |
| Pine Labs Ltd | 1.43% | 0.72% |
| Britannia Industries Ltd | 1.60% | 0.71% |
| Marico Ltd | 2.33% | 0.69% |
| Tata Steel Ltd | 1.59% | 0.65% |
| Asian Paints Ltd | 1.00% | 0.60% |
| Interglobe Aviation Ltd | 1.68% | 0.52% |
| Eris Lifesciences Ltd | 0.95% | 0.50% |
| Exide Industries Ltd | 0.71% | 0.43% |
| Cholamandalam Investment and Finance Co Ltd | 0.70% | 0.41% |
| PB Fintech Ltd | 0.29% | 0.40% |
| 360 One Wam Ltd | 0.24% | 0.54% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 22.8% means 22.8% 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 |
|---|---|
| Kotak Mahindra Bank Ltd | 3.12% |
| Apollo Hospitals Enterprise Ltd | 2.54% |
| HCL Technologies Ltd | 2.00% |
| NTPC Ltd | 1.92% |
| Hindustan Aeronautics Ltd | 1.91% |
Largest holdings only in Franklin India Retirement Fund
| Security | % of fund |
|---|---|
| 7.48% National Bank For Agriculture & Rural Development (15-Sep-2028) | 9.37% |
| 0.00% Jubilant Bevco Ltd (31-May-2028) | 6.26% |
| 7.68% Small Industries Development Bank Of India (10-Aug-2027) | 5.42% |
| 7.90% Bajaj Housing Finance Ltd (28-Apr-2028) | 5.37% |
| 7.70% Poonawalla Fincorp Ltd (21-Apr-2028) | 5.35% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India ELSS Tax Saver | Franklin India Retirement |
|---|---|---|
| Equity | 93.8% | 35.1% |
| Debt | 0.3% | 56.9% |
| Cash and others | 5.9% | 8.0% |
Market cap of stocks
| Market cap | Franklin India ELSS Tax Saver | Franklin India Retirement |
|---|---|---|
| Large Cap | 73.9% | 20.9% |
| Mid Cap | 12.2% | 6.2% |
| Small Cap | 7.7% | 7.5% |
| Not on AMFI's list | 0.0% | 0.5% |
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 Retirement |
|---|---|---|
| Banks | 26.2% | 7.1% |
| IT - Software | 5.8% | 1.2% |
| Retailing | 5.6% | 1.8% |
| Construction | 4.6% | 1.2% |
| Aerospace & Defense | 4.5% | 1.5% |
| Petroleum Products | 4.0% | 0.9% |
| Consumer Durables | 3.2% | 1.9% |
| Automobiles | 3.0% | 2.3% |
| Pharmaceuticals & Biotechnology | 2.8% | 1.9% |
| Industrial Products | 2.3% | 1.6% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India ELSS Tax Saver vs Franklin India Retirement: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India ELSS Tax Saver Fund | Franklin India Retirement Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.15% | 1.52% |
| Base expense ratio (Direct) | 0.90% | 1.21% |
| Total expense ratio (Regular) | 1.93% | 2.25% |
| Base expense ratio (Regular) | 1.58% | 1.84% |
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 Franklin India ELSS Tax Saver with
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Franklin India ELSS Tax Saver Fund vs Franklin India Retirement Fund: Frequently Asked Questions
What is the difference between Franklin India ELSS Tax Saver Fund and Franklin India Retirement Fund?
Franklin India ELSS Tax Saver Fund is an ELSS fund, Franklin India Retirement Fund is a Solution fund, run by Franklin Templeton Mutual Fund. Their portfolios overlap 22.8%. Franklin India ELSS Tax Saver Fund charges 1.15% a year and Franklin India Retirement Fund 1.52%.
Which has given higher returns, Franklin India ELSS Tax Saver Fund or Franklin India Retirement Fund?
Over 1 year: Franklin India ELSS Tax Saver Fund −9.53%, Franklin India Retirement Fund −3.40%. Over 3 years: Franklin India ELSS Tax Saver Fund +10.26% a year, Franklin India Retirement Fund +7.27% a year. Over 5 years: Franklin India ELSS Tax Saver Fund +10.08% a year, Franklin India Retirement Fund +6.59% 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 Retirement Fund?
Franklin India ELSS Tax Saver Fund charges less: 1.15% a year against 1.52%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Franklin India ELSS Tax Saver Fund and Franklin India Retirement Fund overlap?
22.8%. They hold 25 of the same securities, the largest shared ones being AXISBANK, SBIN, ICICIBANK. From each fund's latest monthly portfolio.
Which is better for SIP, Franklin India ELSS Tax Saver Fund or Franklin India Retirement 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 ₹7,07,740 in Franklin India Retirement Fund (XIRR 5.8% 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 Retirement Fund?
Yes. 22.8% 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 Retirement Fund?
Franklin India ELSS Tax Saver Fund: Janakiraman Rengaraju, Rajasa Kakulavarapu. Franklin India Retirement Fund: Anuj Tagra, Chandni Gupta, Rajasa Kakulavarapu, Ajay Argal.
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.