Franklin India ELSS Tax Saver Fund vs Zerodha BSE SENSEX Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
Franklin India ELSS Tax Saver Fund is an ELSS fund and Zerodha BSE SENSEX Index Fund is an Index fund. Franklin India ELSS Tax Saver Fund charges 1.15% a year and Zerodha BSE SENSEX Index Fund 0.47% (Direct plans). Their portfolios overlap 53.8%: they hold 17 of the same securities.
Franklin India ELSS Tax Saver Fund
ELSS
- Expense ratio
- 1.15%
- NAV
- ₹1,532.38
Which is better, Franklin India ELSS Tax Saver or Zerodha BSE SENSEX Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Zerodha BSE SENSEX Index costs less: 0.47% a year against 1.15% (Direct plans).
- Franklin India ELSS Tax Saver fell less in its worst fall since 10-11-2025: −14.9% against −16.1%.
- Zerodha BSE SENSEX Index holds more in large companies: 100.1% of the fund in large caps against 73.9%.
- Franklin India ELSS Tax Saver is the larger fund: ₹5,839 Cr against ₹19 Cr.
- Their portfolios overlap 53.8%: 17 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 | Zerodha BSE SENSEX Index Fund |
|---|---|---|
| Fund house | Franklin Templeton Mutual Fund | Zerodha Mutual Fund |
| Category | ELSS | Index |
| AUM | ₹5,839 Cr (30-09-2026) | ₹19 Cr (30-09-2026) |
| NAV | ₹1,532.38 (Direct) | ₹8.99 (Direct) |
| Expense ratio (Direct) | 1.15% | 0.47% |
| Expense ratio (Regular) | 1.93% | Not available |
| Riskometer | Not available | Very High |
| Benchmark | Nifty 500 TRI | BSE SENSEX TRI |
| Launch date | 10-04-1999 | 06-11-2025 |
| Minimum investment | 500/500 | ₹100 |
| Lock in | 3 years | None |
| Fund managers | Janakiraman Rengaraju, Rajasa Kakulavarapu | Kedarnath Mirajkar |
| Exit load | Nil | Nil |
Franklin India ELSS Tax Saver vs Zerodha BSE SENSEX Index: 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% |
| Zerodha BSE SENSEX Index Fund (Direct) | +2.75% | −4.37% | −2.58% | -- | -- | -- | -- |
| 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 Zerodha BSE SENSEX Index: Year-wise Returns
| Year | Franklin India ELSS Tax SaverFranklin India ELSS Tax Saver | Zerodha BSE SENSEX IndexZerodha BSE SENSEX Index |
|---|---|---|
| 2026to date | −8.42% | −12.06% |
| 2025 | +2.85% | -- |
| 2024 | +23.42% | -- |
| 2023 | +32.36% | -- |
| 2022 | +6.27% | -- |
| 2021 | +37.85% | -- |
Franklin India ELSS Tax Saver vs Zerodha BSE SENSEX Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Franklin India ELSS Tax Saver Fund
Franklin India ELSS Tax Saver vs Zerodha BSE SENSEX Index: 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) | Zerodha BSE SENSEX Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.26% | −10.70% |
| Standard deviation | 15.10% | 14.00% |
| Sharpe ratio | 0.54 | -1.14 |
| Sortino ratio | 0.74 | -1.53 |
| Maximum drawdown | −39.0% (23-03-2020) | −16.1% (30-03-2026) |
| Beta | 0.92 | 1.00 |
| Alpha | +1.92% | −0.40% |
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)
Zerodha BSE SENSEX Index 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) | −14.9% | 20-11-2025 | 31-03-2026 | Not yet | -- | −9.9% |
| Zerodha BSE SENSEX Index Fund (Direct) | −16.1% | 02-01-2026 | 30-03-2026 | Not yet | -- | −12.6% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 10-11-2025, the first day every fund has.
Franklin India ELSS Tax Saver vs Zerodha BSE SENSEX Index: Portfolio Overlap
From each fund's latest monthly portfolio: Franklin India ELSS Tax Saver Fund, September 2026; Zerodha BSE SENSEX Index Fund, September 2026
Holdings in common
- Overlap
- 53.8%
- Held by both
- 17
- Only in Franklin India ELSS Tax Saver
- 33
- Only in Zerodha BSE SENSEX Index
- 13
| Security | % of Franklin India ELSS Tax Saver | % of Zerodha BSE SENSEX Index |
|---|---|---|
| ICICI Bank Ltd | 7.47% | 11.04% |
| HDFC Bank Ltd | 5.78% | 12.59% |
| State Bank of India | 4.66% | 4.64% |
| Larsen & Toubro Ltd | 4.62% | 5.11% |
| Axis Bank Ltd | 5.20% | 4.08% |
| Bharti Airtel Ltd | 3.28% | 6.39% |
| Infosys Ltd | 3.25% | 4.09% |
| Kotak Mahindra Bank Ltd | 3.12% | 3.58% |
| Mahindra & Mahindra Ltd | 3.04% | 3.08% |
| Reliance Industries Ltd | 2.99% | 9.16% |
| Eternal Ltd | 4.11% | 2.70% |
| NTPC Ltd | 1.92% | 1.78% |
| Bharat Electronics Ltd | 2.63% | 1.62% |
| Tata Steel Ltd | 1.59% | 1.77% |
| HCL Technologies Ltd | 2.00% | 1.51% |
| Interglobe Aviation Ltd | 1.68% | 1.30% |
| Asian Paints Ltd | 1.00% | 1.26% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 53.8% means 53.8% 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 |
|---|---|
| Apollo Hospitals Enterprise Ltd | 2.54% |
| Marico Ltd | 2.33% |
| Kirloskar Oil Engines Ltd | 2.26% |
| Hindustan Aeronautics Ltd | 1.91% |
| Cipla Ltd | 1.85% |
Largest holdings only in Zerodha BSE SENSEX Index Fund
| Security | % of fund |
|---|---|
| Bajaj Finance Limited | 3.00% |
| ITC Limited | 2.97% |
| Tata Consultancy Services Limited | 2.42% |
| Sun Pharmaceutical Industries Limited | 2.29% |
| Titan Company Limited | 2.18% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Franklin India ELSS Tax Saver | Zerodha BSE SENSEX Index |
|---|---|---|
| Equity | 93.8% | 100.1% |
| Debt | 0.3% | 0.0% |
| Cash and others | 5.9% | -0.1% |
Market cap of stocks
| Market cap | Franklin India ELSS Tax Saver | Zerodha BSE SENSEX Index |
|---|---|---|
| Large Cap | 73.9% | 100.1% |
| Mid Cap | 12.2% | 0.0% |
| Small Cap | 7.7% | 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 | Franklin India ELSS Tax Saver | Zerodha BSE SENSEX Index |
|---|---|---|
| Banks | 26.2% | 35.9% |
| Petroleum Products | 4.0% | 9.2% |
| IT - Software | 5.8% | 9.2% |
| Telecom - Services | 3.3% | 6.4% |
| Retailing | 5.6% | 3.7% |
| Construction | 4.6% | 5.1% |
| Diversified FMCG | 0.0% | 4.9% |
| Aerospace & Defense | 4.5% | 1.6% |
The six largest sectors of each fund's stocks, % of the fund.
Franklin India ELSS Tax Saver vs Zerodha BSE SENSEX Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Franklin India ELSS Tax Saver Fund | Zerodha BSE SENSEX Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.15% | 0.47% |
| Base expense ratio (Direct) | 0.90% | 0.29% |
| Total expense ratio (Regular) | 1.93% | Not available |
| Base expense ratio (Regular) | 1.58% | 0.00% |
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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Franklin India ELSS Tax Saver Fund vs Zerodha BSE SENSEX Index Fund: Frequently Asked Questions
What is the difference between Franklin India ELSS Tax Saver Fund and Zerodha BSE SENSEX Index Fund?
Franklin India ELSS Tax Saver Fund is an ELSS fund, Zerodha BSE SENSEX Index Fund is an Index fund, run by Franklin Templeton Mutual Fund and Zerodha Mutual Fund. Their portfolios overlap 53.8%. Franklin India ELSS Tax Saver Fund charges 1.15% a year and Zerodha BSE SENSEX Index Fund 0.47%.
Which has the lower expense ratio, Franklin India ELSS Tax Saver Fund or Zerodha BSE SENSEX Index Fund?
Zerodha BSE SENSEX Index Fund charges less: 0.47% 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 Zerodha BSE SENSEX Index Fund overlap?
53.8%. They hold 17 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, SBIN. From each fund's latest monthly portfolio.
Can I invest in both Franklin India ELSS Tax Saver Fund and Zerodha BSE SENSEX Index Fund?
Yes. 53.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Franklin India ELSS Tax Saver Fund and Zerodha BSE SENSEX Index Fund?
Franklin India ELSS Tax Saver Fund: Janakiraman Rengaraju, Rajasa Kakulavarapu. Zerodha BSE SENSEX Index Fund: Kedarnath Mirajkar.
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.