Groww ELSS Tax Saver Fund vs JM ELSS - Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
Groww ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund are both ELSS funds. In the 3 years to 30-10-2026, Groww ELSS Tax Saver Fund (Direct) returned 9.0% a year and JM ELSS - Tax Saver Fund (Direct) returned 15.6% a year. Groww ELSS Tax Saver Fund charges 1.52% a year and JM ELSS - Tax Saver Fund 1.34% (Direct plans). Their portfolios overlap 31.2%: they hold 22 of the same securities.
Groww ELSS Tax Saver Fund
ELSS
- 3 year return
- 9.0%
- Expense ratio
- 1.52%
- NAV
- ₹20.99
JM ELSS - Tax Saver Fund
ELSS
- 3 year return
- 15.6%
- Expense ratio
- 1.34%
- NAV
- ₹57.26
Which is better, Groww ELSS Tax Saver or JM 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.
- JM ELSS - Tax Saver returned more over 5 years: 12.3% a year against 7.7%.
- JM ELSS - Tax Saver returned more over 3 years: 15.6% a year against 9.0%.
- JM ELSS - Tax Saver costs less: 1.34% a year against 1.52% (Direct plans).
- Groww ELSS Tax Saver swung less over 3 years: a standard deviation of 14.3% a year against 16.1%.
- Groww ELSS Tax Saver fell less in its worst fall since 29-12-2017: −34.6% against −37.4%.
- Groww ELSS Tax Saver holds more in large companies: 73.0% of the fund in large caps against 35.1%.
- JM ELSS - Tax Saver is the larger fund: ₹240 Cr against ₹48 Cr.
- Their portfolios overlap 31.2%: 22 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 | Groww ELSS Tax Saver Fund | JM ELSS - Tax Saver Fund |
|---|---|---|
| Fund house | Groww Mutual Fund | JM Financial Mutual Fund |
| Category | ELSS | ELSS |
| AUM | ₹48 Cr (30-09-2026) | ₹240 Cr (30-09-2026) |
| NAV | ₹20.99 (Direct) | ₹57.26 (Direct) |
| Expense ratio (Direct) | 1.52% | 1.34% |
| Expense ratio (Regular) | 2.92% | 2.68% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | BSE 500 TRI |
| Launch date | 28-12-2017 | 31-03-2008 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | 3 years | 3 years |
| Fund managers | Paras Matalia, Nikhil Satam | Deepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi Fozdar |
| Exit load | Nil | Nil |
Groww ELSS Tax Saver vs JM 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 |
|---|---|---|---|---|---|---|---|
| Groww ELSS Tax Saver Fund (Direct) | +0.77% | −4.29% | −1.55% | −9.41% | +9.02% | +7.69% | -- |
| JM ELSS - Tax Saver Fund (Direct) | −3.36% | −4.03% | +5.11% | −1.27% | +15.60% | +12.32% | +15.40% |
| 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.
Groww ELSS Tax Saver vs JM ELSS - Tax Saver: Year-wise Returns
| Year | Groww ELSSGroww ELSS Tax Saver | JM ELSS -JM ELSS - Tax Saver | BSE 500 TRI |
|---|---|---|---|
| 2026to date | −8.58% | −0.54% | −7.81% |
| 2025 | +0.70% | +3.83% | +7.63% |
| 2024 | +20.19% | +30.64% | +15.81% |
| 2023 | +27.49% | +32.19% | +26.55% |
| 2022 | +4.57% | +1.47% | +4.77% |
| 2021 | +23.63% | +33.15% | +31.63% |
Groww ELSS Tax Saver vs JM ELSS - Tax Saver: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 1,438 of them, one for each trading day from 29-12-2020 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.
Groww ELSS Tax Saver Fund (Direct)
JM ELSS - Tax Saver Fund (Direct)
BSE 500 TRI
to
Jun 2021Jun 2019
to
Jun 2022Jun 2020
to
Jun 2023Jun 2021
to
Jun 2024Jun 2022
to
Jun 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Groww ELSS Tax Saver | 0.0 | 1.7 | 9.5 | 36.5 | 43.3 | 8.6 | 0.3 | 14.9% | 15.3% | 1.9% | 26.7% | 11% |
| JM ELSS - Tax Saver | 0.0 | 0.0 | 0.4 | 9.0 | 37.7 | 36.2 | 16.8 | 20.4% | 20.4% | 8.8% | 33.2% | 88% |
| BSE 500 TRI | 0.0 | 0.0 | 3.3 | 25.7 | 45.7 | 19.1 | 6.1 | 17.5% | 17.1% | 6.3% | 33.9% | -- |
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 BSE 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 29-12-2017. Past returns do not promise future returns.
Groww ELSS Tax Saver vs JM 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 29-12-2017 to 30-10-2026: 107 instalments, ₹10,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Groww ELSS Tax SaverGroww ELSS Tax Saver Fund (Direct) | ₹10,70,000 | ₹16,80,481 | ₹6,10,481 | 9.9% |
| JM ELSS - Tax SaverJM ELSS - Tax Saver Fund (Direct) | ₹10,70,000 | ₹22,20,830 | ₹11,50,830 | 15.8% |
Groww ELSS Tax SaverGroww ELSS Tax Saver Fund (Direct)
JM ELSS - Tax SaverJM 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.
Groww ELSS Tax Saver vs JM ELSS - Tax Saver: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Groww ELSS Tax Saver Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.41% | −1.27% |
| Standard deviation | 14.31% | 15.50% |
| Sharpe ratio | -1.02 | -0.42 |
| Sortino ratio | -1.37 | -0.56 |
| Maximum drawdown | −15.3% (30-03-2026) | −16.9% (23-03-2026) |
| Beta | 0.99 | 1.04 |
| Alpha | −1.89% | +6.93% |
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 | Groww ELSS Tax Saver Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.02% | +15.60% |
| Standard deviation | 14.34% | 16.06% |
| Sharpe ratio | 0.21 | 0.60 |
| Sortino ratio | 0.28 | 0.80 |
| Maximum drawdown | −20.8% (07-04-2025) | −20.9% (07-04-2025) |
| Beta | 0.98 | 1.08 |
| Alpha | −0.79% | +5.41% |
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 | Groww ELSS Tax Saver Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.69% | +12.32% |
| Standard deviation | 13.96% | 15.58% |
| Sharpe ratio | 0.14 | 0.42 |
| Sortino ratio | 0.18 | 0.56 |
| Maximum drawdown | −20.8% (07-04-2025) | −20.9% (07-04-2025) |
| Beta | 0.94 | 1.04 |
| Alpha | −0.79% | +3.55% |
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 | Groww ELSS Tax Saver Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.71% | +16.16% |
| Standard deviation | 15.45% | 16.95% |
| Sharpe ratio | 0.22 | 0.60 |
| Sortino ratio | 0.29 | 0.81 |
| Maximum drawdown | −34.6% (23-03-2020) | −37.4% (23-03-2020) |
| Beta | 0.90 | 1.02 |
| Alpha | −1.85% | +3.19% |
From daily NAVs, 29-12-2017 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.
Groww ELSS Tax Saver Fund (Direct)
JM ELSS - Tax Saver Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Groww ELSS Tax Saver Fund (Direct) | −34.6% | 29-01-2018 | 23-03-2020 | 13-11-2020 | 8 months | −13.5% |
| JM ELSS - Tax Saver Fund (Direct) | −37.4% | 19-02-2020 | 23-03-2020 | 10-11-2020 | 8 months | −7.2% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 29-12-2017, 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.
Groww ELSS Tax Saver Fund (Direct)
JM ELSS - Tax Saver Fund (Direct)
BSE 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.
Groww ELSS Tax Saver Fund (Direct)
JM ELSS - Tax Saver Fund (Direct)
BSE 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.
Groww ELSS Tax Saver Fund (Direct)
JM ELSS - Tax Saver Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Groww ELSS Tax Saver Fund (Direct) | 92% | 100% | 4.14% |
| JM ELSS - Tax Saver Fund (Direct) | 105% | 91% | 5.78% |
From month-end values since 29-12-2017. 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.
Groww ELSS Tax Saver vs JM ELSS - Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: Groww ELSS Tax Saver Fund, September 2026; JM ELSS - Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 31.2%
- Held by both
- 22
- Only in Groww ELSS Tax Saver
- 77
- Only in JM ELSS - Tax Saver
- 31
| Security | % of Groww ELSS Tax Saver | % of JM ELSS - Tax Saver |
|---|---|---|
| HDFC Bank Limited | 6.77% | 2.90% |
| ICICI Bank Limited | 5.98% | 2.67% |
| Reliance Industries Limited | 4.92% | 2.64% |
| Bharti Airtel Limited | 3.52% | 2.41% |
| State Bank of India | 2.29% | 2.01% |
| Kotak Mahindra Bank Limited | 1.98% | 2.11% |
| Bajaj Finance Limited | 1.78% | 1.94% |
| Larsen & Toubro Limited | 2.72% | 1.75% |
| Mahindra & Mahindra Limited | 1.75% | 1.63% |
| Eternal Limited | 1.41% | 2.08% |
| BSE Ltd | 1.24% | 1.61% |
| Bajaj Auto Limited | 1.23% | 1.63% |
| Shriram Finance Limited | 1.23% | 1.70% |
| One 97 Communications Limited | 1.17% | 3.31% |
| Navin Fluorine International Limited | 0.88% | 1.65% |
| Maruti Suzuki India Limited | 0.76% | 1.42% |
| PERSISTENT SYSTEMS LTD | 0.74% | 1.54% |
| Adani Power Limited | 0.69% | 1.65% |
| Hindalco Industries Limited | 0.68% | 1.37% |
| SYRMA SGS TECHNOLOGY LIMITED | 0.53% | 3.41% |
| Fortis Healthcare Limited | 0.48% | 1.97% |
| Tech Mahindra Limited | 0.37% | 1.71% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 31.2% means 31.2% 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 Groww ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| Infosys Limited | 2.08% |
| Axis Bank Limited | 1.86% |
| Laurus Labs Limited | 1.63% |
| Titan Company Limited | 1.57% |
| ITC Limited | 1.36% |
Largest holdings only in JM ELSS - Tax Saver Fund
| Security | % of fund |
|---|---|
| Karur Vysya Bank Limited | 2.69% |
| CarTrade Tech Limited | 2.30% |
| EPL Limited | 2.19% |
| United Spirits Limited | 2.09% |
| Sanathan Textiles Ltd. | 2.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww ELSS Tax Saver | JM ELSS - Tax Saver |
|---|---|---|
| Equity | 98.6% | 98.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.4% | 1.1% |
Market cap of stocks
| Market cap | Groww ELSS Tax Saver | JM ELSS - Tax Saver |
|---|---|---|
| Large Cap | 73.0% | 35.1% |
| Mid Cap | 18.6% | 18.2% |
| Small Cap | 7.0% | 45.5% |
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 | Groww ELSS Tax Saver | JM ELSS - Tax Saver |
|---|---|---|
| Banks | 21.2% | 12.4% |
| Finance | 5.0% | 10.1% |
| Pharmaceuticals & Biotechnology | 7.1% | 3.1% |
| Retailing | 3.6% | 6.4% |
| IT - Software | 6.1% | 3.3% |
| Automobiles | 6.1% | 4.7% |
| Industrial Manufacturing | 1.1% | 5.0% |
| Petroleum Products | 4.9% | 2.6% |
| Commercial Services & Supplies | 0.0% | 4.9% |
The six largest sectors of each fund's stocks, % of the fund.
Groww ELSS Tax Saver vs JM ELSS - Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww ELSS Tax Saver Fund | JM ELSS - Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.52% | 1.34% |
| Base expense ratio (Direct) | 0.83% | 0.93% |
| Total expense ratio (Regular) | 2.92% | 2.68% |
| Base expense ratio (Regular) | 2.08% | 2.10% |
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 Groww ELSS Tax Saver with
Groww ELSS Tax Saver Fund vs JM ELSS - Tax Saver Fund: Frequently Asked Questions
What is the difference between Groww ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund?
Both are ELSS funds, run by Groww Mutual Fund and JM Financial Mutual Fund. Their portfolios overlap 31.2%. Groww ELSS Tax Saver Fund charges 1.52% a year and JM ELSS - Tax Saver Fund 1.34%.
Which has given higher returns, Groww ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund?
Over 1 year: Groww ELSS Tax Saver Fund −9.41%, JM ELSS - Tax Saver Fund −1.27%. Over 3 years: Groww ELSS Tax Saver Fund +9.02% a year, JM ELSS - Tax Saver Fund +15.60% a year. Over 5 years: Groww ELSS Tax Saver Fund +7.69% a year, JM ELSS - Tax Saver Fund +12.32% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Groww ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund?
JM ELSS - Tax Saver Fund charges less: 1.34% a year against 1.52%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Groww ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund overlap?
31.2%. They hold 22 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Groww ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund?
On SEBI's riskometer, Groww ELSS Tax Saver Fund is rated Very High and JM ELSS - Tax Saver Fund Very High. Over 3 years, the standard deviation of daily returns was 14.34% and 16.06% a year.
Which is better for SIP, Groww ELSS Tax Saver Fund or JM 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 ₹7,14,497 in Groww ELSS Tax Saver Fund (XIRR 6.2% a year) and ₹8,40,555 in JM ELSS - Tax Saver Fund (XIRR 12.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Groww ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund?
Yes. 31.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Groww ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund?
Groww ELSS Tax Saver Fund: Paras Matalia, Nikhil Satam. JM ELSS - Tax Saver Fund: Deepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi Fozdar.
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.