HDFC ELSS - Tax Saver Fund vs ICICI Prudential ESG Exclusionary Strategy Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC ELSS - Tax Saver Fund is an ELSS fund and ICICI Prudential ESG Exclusionary Strategy Fund is a Thematic fund. In the 3 years to 30-10-2026, HDFC ELSS - Tax Saver Fund (Direct) returned 12.7% a year and ICICI Prudential ESG Exclusionary Strategy Fund (Direct) returned 10.0% a year. HDFC ELSS - Tax Saver Fund charges 1.20% a year and ICICI Prudential ESG Exclusionary Strategy Fund 1.34% (Direct plans). Their portfolios overlap 44.8%: they hold 19 of the same securities.
HDFC ELSS - Tax Saver Fund
ELSS
- 3 year return
- 12.7%
- Expense ratio
- 1.20%
- NAV
- ₹1,434.92
ICICI Prudential ESG Exclusionary Strategy Fund
Thematic
- 3 year return
- 10.0%
- Expense ratio
- 1.34%
- NAV
- ₹21.46
Which is better, HDFC ELSS - Tax Saver or ICICI Prudential ESG Exclusionary Strategy? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC ELSS - Tax Saver returned more over 5 years: 13.0% a year against 8.9%.
- HDFC ELSS - Tax Saver returned more over 3 years: 12.7% a year against 10.0%.
- HDFC ELSS - Tax Saver costs less: 1.20% a year against 1.34% (Direct plans).
- HDFC ELSS - Tax Saver swung less over 3 years: a standard deviation of 12.4% a year against 12.7%.
- HDFC ELSS - Tax Saver fell less in its worst fall since 12-10-2020: −14.8% against −19.2%.
- HDFC ELSS - Tax Saver holds more in large companies: 78.4% of the fund in large caps against 65.2%.
- HDFC ELSS - Tax Saver is the larger fund: ₹14,949 Cr against ₹1,275 Cr.
- Their portfolios overlap 44.8%: 19 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 | HDFC ELSS - Tax Saver Fund | ICICI Prudential ESG Exclusionary Strategy Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | ICICI Prudential Mutual Fund |
| Category | ELSS | Thematic |
| AUM | ₹14,949 Cr (30-09-2026) | ₹1,275 Cr (30-09-2026) |
| NAV | ₹1,434.92 (Direct) | ₹21.46 (Direct) |
| Expense ratio (Direct) | 1.20% | 1.34% |
| Expense ratio (Regular) | 1.76% | 2.36% |
| Riskometer | Very High | Not available |
| Benchmark | Nifty 500 TRI | Nifty 100 ESG TRI |
| Launch date | 31-03-1996 | 09-10-2020 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | 3 years | None |
| Fund managers | Amar Kalkundrikar, Gopal Agrawal | Mittul Kalawadia, Ayush Shah |
| Exit load | NIL | 1% of applicable Net Asset Value - If the amount sought to be redeemed or switch out within 1 month from the date of allotment. Nil - If the amount sought to be redeemed or switched out more than 1 month. |
HDFC ELSS - Tax Saver vs ICICI Prudential ESG Exclusionary Strategy: 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 |
|---|---|---|---|---|---|---|---|
| HDFC ELSS - Tax Saver Fund (Direct) | +1.27% | −4.75% | −0.92% | −9.55% | +12.73% | +12.97% | +12.64% |
| ICICI Prudential ESG Exclusionary Strategy Fund (Direct) | −2.85% | −7.78% | −4.75% | −13.22% | +10.01% | +8.90% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | +13.76% | +11.62% | -- |
Category average: the average of the 50 ELSS funds and the 235 Thematic funds, same plan type.
HDFC ELSS - Tax Saver vs ICICI Prudential ESG Exclusionary Strategy: Year-wise Returns
| Year | HDFC ELSS - Tax SaverHDFC ELSS - Tax Saver | ICICI Prudential ESG Exclusionary StrategyICICI Prudential ESG Exclusionary Strategy |
|---|---|---|
| 2026to date | −9.15% | −11.87% |
| 2025 | +10.94% | +7.46% |
| 2024 | +22.07% | +23.15% |
| 2023 | +34.02% | +33.53% |
| 2022 | +11.14% | −2.27% |
| 2021 | +36.05% | +24.45% |
HDFC ELSS - Tax Saver vs ICICI Prudential ESG Exclusionary Strategy: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of HDFC ELSS - Tax Saver Fund
Rolling returns
Every 3-year holding period, 750 of them, one for each trading day from 12-10-2023 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.
HDFC ELSS - Tax Saver Fund (Direct)
ICICI Prudential ESG Exclusionary Strategy Fund (Direct)
Nifty 500 TRI
to
Jan 2024Jul 2021
to
Jul 2024Jan 2022
to
Jan 2025Jul 2022
to
Jul 2025Feb 2023
to
Feb 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC ELSS - Tax Saver | 0.0 | 0.0 | 0.0 | 6.3 | 15.7 | 42.4 | 35.6 | 22.5% | 22.9% | 11.1% | 28.8% | 100% |
| ICICI Prudential ESG Exclusionary Strategy | 0.0 | 0.0 | 1.1 | 11.9 | 63.1 | 22.0 | 2.0 | 18.1% | 18.1% | 9.1% | 26.1% | 71% |
| Nifty 500 TRI | 0.0 | 0.0 | 2.5 | 25.2 | 57.3 | 14.9 | 0.0 | 16.7% | 16.6% | 8.8% | 23.3% | -- |
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 12-10-2020. Past returns do not promise future returns.
HDFC ELSS - Tax Saver vs ICICI Prudential ESG Exclusionary Strategy: 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 01-10-2020 to 30-10-2026: 73 instalments, ₹7,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC ELSS - Tax SaverHDFC ELSS - Tax Saver Fund (Direct) | ₹7,30,000 | ₹10,84,697 | ₹3,54,697 | 12.9% |
| ICICI Prudential ESG Exclusionary StrategyICICI Prudential ESG Exclusionary Strategy Fund (Direct) | ₹7,30,000 | ₹9,58,902 | ₹2,28,902 | 8.9% |
HDFC ELSS - Tax SaverHDFC ELSS - Tax Saver Fund (Direct)
ICICI Prudential ESG Exclusionary StrategyICICI Prudential ESG Exclusionary Strategy 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.
HDFC ELSS - Tax Saver vs ICICI Prudential ESG Exclusionary Strategy: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC ELSS - Tax Saver Fund (Direct) | ICICI Prudential ESG Exclusionary Strategy Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.55% | −13.22% |
| Standard deviation | 13.16% | 13.47% |
| Sharpe ratio | -1.12 | -1.37 |
| Sortino ratio | -1.48 | -1.79 |
| Maximum drawdown | −14.7% (31-03-2026) | −16.3% (30-03-2026) |
| Beta | 0.88 | 0.90 |
| Alpha | −3.71% | −8.57% |
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 | HDFC ELSS - Tax Saver Fund (Direct) | ICICI Prudential ESG Exclusionary Strategy Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.73% | +10.01% |
| Standard deviation | 12.37% | 12.69% |
| Sharpe ratio | 0.54 | 0.31 |
| Sortino ratio | 0.76 | 0.43 |
| Maximum drawdown | −14.8% (31-03-2026) | −17.2% (04-03-2025) |
| Beta | 0.83 | 0.85 |
| Alpha | +3.24% | +0.13% |
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 | HDFC ELSS - Tax Saver Fund (Direct) | ICICI Prudential ESG Exclusionary Strategy Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.97% | +8.90% |
| Standard deviation | 12.63% | 12.48% |
| Sharpe ratio | 0.57 | 0.25 |
| Sortino ratio | 0.79 | 0.34 |
| Maximum drawdown | −14.8% (31-03-2026) | −18.3% (17-06-2022) |
| Beta | 0.84 | 0.82 |
| Alpha | +4.63% | +2.03% |
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 | HDFC ELSS - Tax Saver Fund (Direct) | ICICI Prudential ESG Exclusionary Strategy Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.59% | +13.46% |
| Standard deviation | 15.87% | 12.30% |
| Sharpe ratio | 0.48 | 0.66 |
| Sortino ratio | 0.65 | 0.91 |
| Maximum drawdown | −44.1% (23-03-2020) | −19.2% (17-06-2022) |
| Beta | 0.96 | 0.80 |
| Alpha | +1.04% | +1.51% |
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.
HDFC ELSS - Tax Saver Fund (Direct)
ICICI Prudential ESG Exclusionary Strategy Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC ELSS - Tax Saver Fund (Direct) | −14.8% | 29-10-2025 | 31-03-2026 | Not yet | -- | −10.0% |
| ICICI Prudential ESG Exclusionary Strategy Fund (Direct) | −19.2% | 18-10-2021 | 17-06-2022 | 05-06-2023 | 12 months | −13.7% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 12-10-2020, 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.
HDFC ELSS - Tax Saver Fund (Direct)
ICICI Prudential ESG Exclusionary Strategy 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.
HDFC ELSS - Tax Saver Fund (Direct)
ICICI Prudential ESG Exclusionary Strategy 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.
HDFC ELSS - Tax Saver Fund (Direct)
ICICI Prudential ESG Exclusionary Strategy Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| HDFC ELSS - Tax Saver Fund (Direct) | 98% | 72% | 4.02% |
| ICICI Prudential ESG Exclusionary Strategy Fund (Direct) | 85% | 85% | 6.22% |
From month-end values since 12-10-2020. 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.
HDFC ELSS - Tax Saver vs ICICI Prudential ESG Exclusionary Strategy: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC ELSS - Tax Saver Fund, September 2026; ICICI Prudential ESG Exclusionary Strategy Fund, September 2026
Holdings in common
- Overlap
- 44.8%
- Held by both
- 19
- Only in HDFC ELSS - Tax Saver
- 43
- Only in ICICI Prudential ESG Exclusionary Strategy
- 32
| Security | % of HDFC ELSS - Tax Saver | % of ICICI Prudential ESG Exclusionary Strategy |
|---|---|---|
| HDFC Bank Ltd. | 7.87% | 9.74% |
| ICICI Bank Ltd. | 9.06% | 7.86% |
| Axis Bank Ltd. | 6.56% | 4.80% |
| Maruti Suzuki India Limited | 4.40% | 4.27% |
| Bharti Airtel Ltd. | 4.45% | 2.98% |
| SBI Life Insurance Company Ltd. | 3.21% | 2.47% |
| Eternal Limited | 2.41% | 2.74% |
| State Bank of India | 4.49% | 2.13% |
| Reliance Industries Ltd. | 2.64% | 1.79% |
| InterGlobe Aviation Ltd. | 1.37% | 2.88% |
| ICICI Lombard General Insurance Co | 1.10% | 1.29% |
| Tech Mahindra Ltd. | 1.02% | 0.99% |
| Infosys Limited | 0.96% | 1.23% |
| Britannia Industries Ltd. | 1.69% | 0.96% |
| Chalet Hotels Ltd. | 0.81% | 2.20% |
| Havells India Ltd. | 0.73% | 1.05% |
| Mahindra & Mahindra Ltd. | 0.69% | 3.01% |
| Life Insurance Corporation of India | 0.53% | 2.48% |
| Power Grid Corporation of India Ltd. | 1.09% | 0.08% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 44.8% means 44.8% 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 HDFC ELSS - Tax Saver Fund
| Security | % of fund |
|---|---|
| Kotak Mahindra Bank Limited | 4.88% |
| HCL Technologies Ltd. | 2.94% |
| Hyundai Motor India Limited | 2.72% |
| Bajaj Auto Limited | 1.88% |
| Tata Steel Ltd. | 1.85% |
Largest holdings only in ICICI Prudential ESG Exclusionary Strategy Fund
| Security | % of fund |
|---|---|
| TVS Motor Company Ltd. | 4.80% |
| Sun Pharmaceutical Industries Ltd. | 3.54% |
| Avenue Supermarts Ltd. | 3.31% |
| Inox Wind Ltd. | 2.20% |
| Bajaj Holdings & Investment Ltd. | 2.03% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC ELSS - Tax Saver | ICICI Prudential ESG Exclusionary Strategy |
|---|---|---|
| Equity | 99.2% | 96.7% |
| Debt | 0.3% | 0.0% |
| Cash and others | 0.4% | 3.3% |
Market cap of stocks
| Market cap | HDFC ELSS - Tax Saver | ICICI Prudential ESG Exclusionary Strategy |
|---|---|---|
| Large Cap | 78.4% | 65.2% |
| Mid Cap | 10.1% | 6.6% |
| Small Cap | 10.6% | 23.7% |
| Not on AMFI's list | 0.1% | 1.2% |
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 | HDFC ELSS - Tax Saver | ICICI Prudential ESG Exclusionary Strategy |
|---|---|---|
| Banks | 34.2% | 24.5% |
| Automobiles | 10.9% | 12.1% |
| Retailing | 2.4% | 8.2% |
| Insurance | 5.9% | 6.2% |
| IT - Software | 5.9% | 0.0% |
| Industrial Products | 0.7% | 5.7% |
| Pharmaceuticals & Biotechnology | 4.0% | 5.6% |
| Telecom - Services | 4.5% | 4.2% |
| Healthcare Services | 4.2% | 1.3% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC ELSS - Tax Saver vs ICICI Prudential ESG Exclusionary Strategy: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC ELSS - Tax Saver Fund | ICICI Prudential ESG Exclusionary Strategy Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.20% | 1.34% |
| Base expense ratio (Direct) | 0.97% | 0.98% |
| Total expense ratio (Regular) | 1.76% | 2.36% |
| Base expense ratio (Regular) | 1.45% | 1.86% |
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 HDFC ELSS - Tax Saver with
Compare ICICI Prudential ESG Exclusionary Strategy with
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- ICICI Prudential ESG Exclusionary Strategy vs HDFC Pharma and Healthcare
- ICICI Prudential ESG Exclusionary Strategy vs SBI Healthcare Opportunities
- ICICI Prudential ESG Exclusionary Strategy vs Aditya Birla Sun Life International Equity
HDFC ELSS - Tax Saver Fund vs ICICI Prudential ESG Exclusionary Strategy Fund: Frequently Asked Questions
What is the difference between HDFC ELSS - Tax Saver Fund and ICICI Prudential ESG Exclusionary Strategy Fund?
HDFC ELSS - Tax Saver Fund is an ELSS fund, ICICI Prudential ESG Exclusionary Strategy Fund is a Thematic fund, run by HDFC Mutual Fund and ICICI Prudential Mutual Fund. Their portfolios overlap 44.8%. HDFC ELSS - Tax Saver Fund charges 1.20% a year and ICICI Prudential ESG Exclusionary Strategy Fund 1.34%.
Which has given higher returns, HDFC ELSS - Tax Saver Fund or ICICI Prudential ESG Exclusionary Strategy Fund?
Over 1 year: HDFC ELSS - Tax Saver Fund −9.55%, ICICI Prudential ESG Exclusionary Strategy Fund −13.22%. Over 3 years: HDFC ELSS - Tax Saver Fund +12.73% a year, ICICI Prudential ESG Exclusionary Strategy Fund +10.01% a year. Over 5 years: HDFC ELSS - Tax Saver Fund +12.97% a year, ICICI Prudential ESG Exclusionary Strategy Fund +8.90% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC ELSS - Tax Saver Fund or ICICI Prudential ESG Exclusionary Strategy Fund?
HDFC ELSS - Tax Saver Fund charges less: 1.20% a year against 1.34%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC ELSS - Tax Saver Fund and ICICI Prudential ESG Exclusionary Strategy Fund overlap?
44.8%. They hold 19 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is better for SIP, HDFC ELSS - Tax Saver Fund or ICICI Prudential ESG Exclusionary Strategy Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,97,262 in HDFC ELSS - Tax Saver Fund (XIRR 10.5% a year) and ₹7,39,497 in ICICI Prudential ESG Exclusionary Strategy Fund (XIRR 7.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC ELSS - Tax Saver Fund and ICICI Prudential ESG Exclusionary Strategy Fund?
Yes. 44.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages HDFC ELSS - Tax Saver Fund and ICICI Prudential ESG Exclusionary Strategy Fund?
HDFC ELSS - Tax Saver Fund: Amar Kalkundrikar, Gopal Agrawal. ICICI Prudential ESG Exclusionary Strategy Fund: Mittul Kalawadia, Ayush Shah.
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.