Groww ELSS Tax Saver Fund vs Mirae Asset Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Groww ELSS Tax Saver Fund is an ELSS fund and Mirae Asset Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, Groww ELSS Tax Saver Fund (Direct) returned 9.0% a year and Mirae Asset Flexi Cap Fund (Direct) returned 12.3% a year. Groww ELSS Tax Saver Fund charges 1.52% a year and Mirae Asset Flexi Cap Fund 0.74% (Direct plans). Their portfolios overlap 48.7%: they hold 40 of the same securities.
Groww ELSS Tax Saver Fund
ELSS
- 3 year return
- 9.0%
- Expense ratio
- 1.52%
- NAV
- ₹20.99
Mirae Asset Flexi Cap Fund
Flexi Cap
- 3 year return
- 12.3%
- Expense ratio
- 0.74%
- NAV
- ₹16.38
Which is better, Groww ELSS Tax Saver or Mirae Asset Flexi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Mirae Asset Flexi Cap returned more over 3 years: 12.3% a year against 9.0%.
- Mirae Asset Flexi Cap returned more over 1 year: −3.2% against −9.4%.
- Mirae Asset Flexi Cap costs less: 0.74% a year against 1.52% (Direct plans).
- Mirae Asset Flexi Cap swung less over 3 years: a standard deviation of 14.0% a year against 14.3%.
- Mirae Asset Flexi Cap fell less in its worst fall since 27-02-2023: −16.1% against −20.8%.
- Groww ELSS Tax Saver holds more in large companies: 73.0% of the fund in large caps against 61.0%.
- Mirae Asset Flexi Cap is the larger fund: ₹4,369 Cr against ₹48 Cr.
- Their portfolios overlap 48.7%: 40 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 | Mirae Asset Flexi Cap Fund |
|---|---|---|
| Fund house | Groww Mutual Fund | Mirae Asset Mutual Fund |
| Category | ELSS | Flexi Cap |
| AUM | ₹48 Cr (30-09-2026) | ₹4,369 Cr (30-09-2026) |
| NAV | ₹20.99 (Direct) | ₹16.38 (Direct) |
| Expense ratio (Direct) | 1.52% | 0.74% |
| Expense ratio (Regular) | 2.92% | 2.11% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty 500 TRI |
| Launch date | 28-12-2017 | 24-02-2023 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | 3 years | None |
| Fund managers | Paras Matalia, Nikhil Satam | Varun Goel |
| Exit load | Nil | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 1 year. |
Groww ELSS Tax Saver vs Mirae Asset Flexi Cap: 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% | -- |
| Mirae Asset Flexi Cap Fund (Direct) | −0.84% | −3.12% | −0.09% | −3.21% | +12.30% | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | -- | -- |
Category average: the average of the 50 ELSS funds and the 46 Flexi Cap funds, same plan type.
Groww ELSS Tax Saver vs Mirae Asset Flexi Cap: Year-wise Returns
| Year | Groww ELSS Tax SaverGroww ELSS Tax Saver | Mirae Asset Flexi CapMirae Asset Flexi Cap |
|---|---|---|
| 2026to date | −8.58% | −4.81% |
| 2025 | +0.70% | +10.44% |
| 2024 | +20.19% | +19.05% |
| 2023 | +27.49% | -- |
| 2022 | +4.57% | -- |
| 2021 | +23.63% | -- |
Groww ELSS Tax Saver vs Mirae Asset Flexi Cap: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of Groww ELSS Tax Saver Fund
Rolling returns
Every 3-year holding period, 164 of them, one for each trading day from 27-02-2026 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)
Mirae Asset Flexi Cap Fund (Direct)
BSE 500 TRI
to
Mar 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Jul 2023
to
Jul 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 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 | 0.0 | 22.0 | 76.2 | 1.8 | 0.0 | 0.0 | 11.4% | 11.6% | 7.2% | 16.0% | 0% |
| Mirae Asset Flexi Cap | 0.0 | 0.0 | 0.0 | 59.1 | 40.9 | 0.0 | 0.0 | 14.5% | 14.4% | 10.9% | 18.8% | 100% |
| BSE 500 TRI | 0.0 | 0.0 | 14.6 | 67.7 | 17.7 | 0.0 | 0.0 | 12.8% | 12.8% | 8.4% | 17.6% | -- |
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 27-02-2023. Past returns do not promise future returns.
Groww ELSS Tax Saver vs Mirae Asset Flexi Cap: 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 01-02-2023 to 30-10-2026: 45 instalments, ₹4,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Groww ELSS Tax SaverGroww ELSS Tax Saver Fund (Direct) | ₹4,50,000 | ₹4,78,722 | ₹28,722 | 3.3% |
| Mirae Asset Flexi CapMirae Asset Flexi Cap Fund (Direct) | ₹4,50,000 | ₹5,22,213 | ₹72,213 | 7.9% |
Groww ELSS Tax SaverGroww ELSS Tax Saver Fund (Direct)
Mirae Asset Flexi CapMirae Asset Flexi Cap 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 Mirae Asset Flexi Cap: 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) | Mirae Asset Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.41% | −3.21% |
| Standard deviation | 14.31% | 13.91% |
| Sharpe ratio | -1.02 | -0.61 |
| Sortino ratio | -1.37 | -0.82 |
| Maximum drawdown | −15.3% (30-03-2026) | −13.7% (30-03-2026) |
| Beta | 0.99 | 0.95 |
| Alpha | −1.89% | +3.55% |
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) | Mirae Asset Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.02% | +12.30% |
| Standard deviation | 14.34% | 14.03% |
| Sharpe ratio | 0.21 | 0.45 |
| Sortino ratio | 0.28 | 0.61 |
| Maximum drawdown | −20.8% (07-04-2025) | −16.1% (07-04-2025) |
| Beta | 0.98 | 0.97 |
| Alpha | −0.79% | +2.23% |
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) | Mirae Asset Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.71% | +14.39% |
| Standard deviation | 15.45% | 13.21% |
| Sharpe ratio | 0.22 | 0.62 |
| Sortino ratio | 0.29 | 0.85 |
| Maximum drawdown | −34.6% (23-03-2020) | −16.1% (07-04-2025) |
| Beta | 0.90 | 0.96 |
| Alpha | −1.85% | +1.76% |
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)
Mirae Asset Flexi Cap 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) | −20.8% | 23-09-2024 | 07-04-2025 | Not yet | -- | −13.5% |
| Mirae Asset Flexi Cap Fund (Direct) | −16.1% | 26-09-2024 | 07-04-2025 | 27-06-2025 | 3 months | −5.5% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 27-02-2023, 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)
Mirae Asset Flexi Cap 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)
Mirae Asset Flexi Cap Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Groww ELSS Tax Saver Fund (Direct) | 96% | 101% | 4.31% |
| Mirae Asset Flexi Cap Fund (Direct) | 98% | 84% | 2.55% |
From month-end values since 27-02-2023. 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 Mirae Asset Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Groww ELSS Tax Saver Fund, September 2026; Mirae Asset Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 48.7%
- Held by both
- 40
- Only in Groww ELSS Tax Saver
- 59
- Only in Mirae Asset Flexi Cap
- 47
| Security | % of Groww ELSS Tax Saver | % of Mirae Asset Flexi Cap |
|---|---|---|
| ICICI Bank Limited | 5.98% | 5.38% |
| HDFC Bank Limited | 6.77% | 5.37% |
| Reliance Industries Limited | 4.92% | 3.79% |
| State Bank of India | 2.29% | 2.44% |
| Bharti Airtel Limited | 3.52% | 2.09% |
| Larsen & Toubro Limited | 2.72% | 1.95% |
| Axis Bank Limited | 1.86% | 2.29% |
| Mahindra & Mahindra Limited | 1.75% | 1.81% |
| Infosys Limited | 2.08% | 1.42% |
| Tata Consultancy Services Limited | 1.28% | 1.45% |
| BSE Ltd | 1.24% | 1.24% |
| Multi Commodity Exchange of India Ltd. | 1.24% | 1.68% |
| Adani Port & Special Economic Zone Ltd | 1.22% | 1.46% |
| Eternal Limited | 1.41% | 1.15% |
| Bajaj Finance Limited | 1.78% | 1.10% |
| UltraTech Cement Limited | 1.06% | 1.13% |
| TVS Motor Company Limited | 1.03% | 1.28% |
| Titan Company Limited | 1.57% | 0.92% |
| Shriram Finance Limited | 1.23% | 0.89% |
| Divi's Laboratories Limited | 0.87% | 1.04% |
| ITC Limited | 1.36% | 0.86% |
| Vedanta Limited | 0.80% | 0.78% |
| Maruti Suzuki India Limited | 0.76% | 0.82% |
| Kotak Mahindra Bank Limited | 1.98% | 0.72% |
| Lupin Limited | 0.66% | 1.43% |
| Trent Limited | 0.66% | 0.98% |
| The Phoenix Mills Limited | 0.65% | 1.62% |
| Bharat Electronics Limited | 0.63% | 0.80% |
| The Indian Hotels Company Limited | 0.95% | 0.62% |
| Tata Consumer Products Limited | 0.88% | 0.61% |
| Sun Pharmaceutical Industries Limited | 1.30% | 0.59% |
| Lenskart Solutions Limited | 0.53% | 1.72% |
| Sai Life Sciences Ltd. | 0.48% | 0.69% |
| Indus Towers Limited | 0.45% | 1.61% |
| InterGlobe Aviation Limited | 1.03% | 0.44% |
| Hindustan Aeronautics Limited | 0.40% | 0.89% |
| Tech Mahindra Limited | 0.37% | 1.20% |
| Britannia Industries Limited | 0.37% | 0.94% |
| Pidilite Industries Limited | 0.46% | 0.16% |
| Solar Industries India Limited | 0.69% | 0.02% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 48.7% means 48.7% 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 |
|---|---|
| Laurus Labs Limited | 1.63% |
| Bajaj Auto Limited | 1.23% |
| One 97 Communications Limited | 1.17% |
| FSN E-Commerce Ventures Limited | 1.05% |
| Bharat Forge Limited | 0.96% |
Largest holdings only in Mirae Asset Flexi Cap Fund
| Security | % of fund |
|---|---|
| Engineers India Ltd. | 1.51% |
| CG Power and Industrial Solutions Ltd. | 1.49% |
| ICICI Prudential Asset Management Company Ltd. | 1.48% |
| Mankind Pharma Ltd. | 1.48% |
| L&T Finance Ltd. | 1.46% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Groww ELSS Tax Saver | Mirae Asset Flexi Cap |
|---|---|---|
| Equity | 98.6% | 99.7% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.4% | 0.3% |
Market cap of stocks
| Market cap | Groww ELSS Tax Saver | Mirae Asset Flexi Cap |
|---|---|---|
| Large Cap | 73.0% | 61.0% |
| Mid Cap | 18.6% | 19.2% |
| Small Cap | 7.0% | 14.5% |
| Not on AMFI's list | 0.0% | 5.0% |
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 | Groww ELSS Tax Saver | Mirae Asset Flexi Cap |
|---|---|---|
| Banks | 21.2% | 16.2% |
| Capital Markets | 2.5% | 7.4% |
| Pharmaceuticals & Biotechnology | 7.1% | 7.0% |
| IT - Software | 6.1% | 4.1% |
| Automobiles | 6.1% | 3.9% |
| Finance | 5.0% | 5.3% |
| Petroleum Products | 4.9% | 4.5% |
| Consumer Durables | 2.3% | 4.3% |
The six largest sectors of each fund's stocks, % of the fund.
Groww ELSS Tax Saver vs Mirae Asset Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Groww ELSS Tax Saver Fund | Mirae Asset Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.52% | 0.74% |
| Base expense ratio (Direct) | 0.83% | 0.46% |
| Total expense ratio (Regular) | 2.92% | 2.11% |
| Base expense ratio (Regular) | 2.08% | 1.62% |
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 Mirae Asset Flexi Cap Fund: Frequently Asked Questions
What is the difference between Groww ELSS Tax Saver Fund and Mirae Asset Flexi Cap Fund?
Groww ELSS Tax Saver Fund is an ELSS fund, Mirae Asset Flexi Cap Fund is a Flexi Cap fund, run by Groww Mutual Fund and Mirae Asset Mutual Fund. Their portfolios overlap 48.7%. Groww ELSS Tax Saver Fund charges 1.52% a year and Mirae Asset Flexi Cap Fund 0.74%.
Which has given higher returns, Groww ELSS Tax Saver Fund or Mirae Asset Flexi Cap Fund?
Over 1 year: Groww ELSS Tax Saver Fund −9.41%, Mirae Asset Flexi Cap Fund −3.21%. Over 3 years: Groww ELSS Tax Saver Fund +9.02% a year, Mirae Asset Flexi Cap Fund +12.30% 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 Mirae Asset Flexi Cap Fund?
Mirae Asset Flexi Cap Fund charges less: 0.74% 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 Mirae Asset Flexi Cap Fund overlap?
48.7%. They hold 40 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Groww ELSS Tax Saver Fund or Mirae Asset Flexi Cap Fund?
On SEBI's riskometer, Groww ELSS Tax Saver Fund is rated Very High and Mirae Asset Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 14.34% and 14.03% a year.
Which is better for SIP, Groww ELSS Tax Saver Fund or Mirae Asset Flexi Cap Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,67,633 in Groww ELSS Tax Saver Fund (XIRR -0.4% a year) and ₹3,99,781 in Mirae Asset Flexi Cap Fund (XIRR 5.0% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Groww ELSS Tax Saver Fund and Mirae Asset Flexi Cap Fund?
Yes. 48.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Groww ELSS Tax Saver Fund and Mirae Asset Flexi Cap Fund?
Groww ELSS Tax Saver Fund: Paras Matalia, Nikhil Satam. Mirae Asset Flexi Cap Fund: Varun Goel.
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.