ICICI Prudential ELSS - Tax Saver Fund vs Nippon India ELSS Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
ICICI Prudential ELSS - Tax Saver Fund and Nippon India ELSS Tax Saver Fund are both ELSS funds. In the 3 years to 30-10-2026, ICICI Prudential ELSS - Tax Saver Fund (Direct) returned 10.3% a year and Nippon India ELSS Tax Saver Fund (Direct) returned 11.9% a year. ICICI Prudential ELSS - Tax Saver Fund charges 1.21% a year and Nippon India ELSS Tax Saver Fund 1.13% (Direct plans). Their portfolios overlap 38.5%: they hold 19 of the same securities.
ICICI Prudential ELSS - Tax Saver Fund
ELSS
- 3 year return
- 10.3%
- Expense ratio
- 1.21%
- NAV
- ₹985.78
Nippon India ELSS Tax Saver Fund
ELSS
- 3 year return
- 11.9%
- Expense ratio
- 1.13%
- NAV
- ₹137.88
Which is better, ICICI Prudential ELSS - Tax Saver or Nippon India 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.
- Nippon India ELSS Tax Saver returned more over 5 years: 10.6% a year against 8.5%.
- Nippon India ELSS Tax Saver returned more over 3 years: 11.9% a year against 10.3%.
- Nippon India ELSS Tax Saver costs less: 1.13% a year against 1.21% (Direct plans).
- ICICI Prudential ELSS - Tax Saver swung less over 3 years: a standard deviation of 12.6% a year against 14.4%.
- ICICI Prudential ELSS - Tax Saver fell less in its worst fall since 02-01-2013: −37.5% against −51.9%.
- Nippon India ELSS Tax Saver is the larger fund: ₹14,096 Cr against ₹13,498 Cr.
- Their portfolios overlap 38.5%: 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 | ICICI Prudential ELSS - Tax Saver Fund | Nippon India ELSS Tax Saver Fund |
|---|---|---|
| Fund house | ICICI Prudential Mutual Fund | Nippon India Mutual Fund |
| Category | ELSS | ELSS |
| AUM | ₹13,498 Cr (30-09-2026) | ₹14,096 Cr (30-09-2026) |
| NAV | ₹985.78 (Direct) | ₹137.88 (Direct) |
| Expense ratio (Direct) | 1.21% | 1.13% |
| Expense ratio (Regular) | 1.79% | 1.79% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 19-08-1999 | 21-09-2005 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | 3 years | 3 years |
| Fund managers | Mittul Kalawadia, Priyanka Khandelwal, Sharmila D'silva | Rupesh Patel, Ritesh Rathod |
| Exit load | Nil | Nil |
ICICI Prudential ELSS - Tax Saver vs Nippon India 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 |
|---|---|---|---|---|---|---|---|
| ICICI Prudential ELSS - Tax Saver Fund (Direct) | −1.72% | −5.96% | −3.14% | −8.40% | +10.35% | +8.52% | +11.92% |
| Nippon India ELSS Tax Saver Fund (Direct) | −0.80% | −5.05% | −2.86% | −5.26% | +11.93% | +10.64% | +10.17% |
| 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.
ICICI Prudential ELSS - Tax Saver vs Nippon India ELSS Tax Saver: Year-wise Returns
| Year | ICICI Prudential ELSS -ICICI Prudential ELSS - Tax Saver | Nippon India ELSSNippon India ELSS Tax Saver | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −7.94% | −4.08% | −7.51% |
| 2025 | +10.60% | +6.72% | +7.76% |
| 2024 | +17.20% | +18.43% | +16.24% |
| 2023 | +23.96% | +29.48% | +26.91% |
| 2022 | +3.06% | +7.71% | +4.25% |
| 2021 | +34.65% | +38.58% | +31.60% |
ICICI Prudential ELSS - Tax Saver vs Nippon India ELSS Tax Saver: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 2,666 of them, one for each trading day from 04-01-2016 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.
ICICI Prudential ELSS - Tax Saver Fund (Direct)
Nippon India ELSS Tax Saver 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ICICI Prudential ELSS - Tax Saver | 1.8 | 3.8 | 9.2 | 33.0 | 30.8 | 15.4 | 6.2 | 15.4% | 15.4% | −6.6% | 32.6% | 47% |
| Nippon India ELSS Tax Saver | 10.0 | 5.7 | 15.5 | 17.2 | 22.7 | 13.7 | 15.2 | 14.2% | 15.3% | −13.9% | 37.9% | 53% |
| 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 02-01-2013. Past returns do not promise future returns.
ICICI Prudential ELSS - Tax Saver vs Nippon India 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 02-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ICICI Prudential ELSS - Tax SaverICICI Prudential ELSS - Tax Saver Fund (Direct) | ₹16,60,000 | ₹43,65,777 | ₹27,05,777 | 13.0% |
| Nippon India ELSS Tax SaverNippon India ELSS Tax Saver Fund (Direct) | ₹16,60,000 | ₹41,00,345 | ₹24,40,345 | 12.2% |
ICICI Prudential ELSS - Tax SaverICICI Prudential ELSS - Tax Saver Fund (Direct)
Nippon India ELSS Tax SaverNippon India 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.
ICICI Prudential ELSS - Tax Saver vs Nippon India ELSS Tax Saver: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | ICICI Prudential ELSS - Tax Saver Fund (Direct) | Nippon India ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | −8.40% | −5.26% |
| Standard deviation | 13.56% | 13.91% |
| Sharpe ratio | -1.01 | -0.76 |
| Sortino ratio | -1.35 | -1.01 |
| Maximum drawdown | −13.6% (31-03-2026) | −11.9% (31-03-2026) |
| Beta | 0.92 | 0.95 |
| Alpha | −2.06% | +1.43% |
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 | ICICI Prudential ELSS - Tax Saver Fund (Direct) | Nippon India ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.35% | +11.93% |
| Standard deviation | 12.59% | 14.36% |
| Sharpe ratio | 0.34 | 0.41 |
| Sortino ratio | 0.48 | 0.55 |
| Maximum drawdown | −17.6% (04-03-2025) | −20.1% (03-03-2025) |
| Beta | 0.85 | 0.99 |
| Alpha | +0.75% | +1.77% |
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 | ICICI Prudential ELSS - Tax Saver Fund (Direct) | Nippon India ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.52% | +10.64% |
| Standard deviation | 12.96% | 14.50% |
| Sharpe ratio | 0.21 | 0.33 |
| Sortino ratio | 0.29 | 0.45 |
| Maximum drawdown | −17.6% (04-03-2025) | −20.1% (03-03-2025) |
| Beta | 0.88 | 0.99 |
| Alpha | +0.08% | +1.85% |
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 | ICICI Prudential ELSS - Tax Saver Fund (Direct) | Nippon India ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.07% | +13.19% |
| Standard deviation | 14.70% | 17.32% |
| Sharpe ratio | 0.55 | 0.41 |
| Sortino ratio | 0.74 | 0.56 |
| Maximum drawdown | −37.5% (23-03-2020) | −51.9% (23-03-2020) |
| Beta | 0.89 | 1.03 |
| Alpha | +2.01% | +0.19% |
From daily NAVs, 02-01-2013 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.
ICICI Prudential ELSS - Tax Saver Fund (Direct)
Nippon India ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| ICICI Prudential ELSS - Tax Saver Fund (Direct) | −37.5% | 17-01-2020 | 23-03-2020 | 17-11-2020 | 8 months | −9.1% |
| Nippon India ELSS Tax Saver Fund (Direct) | −51.9% | 23-01-2018 | 23-03-2020 | 07-07-2021 | 15 months | −7.3% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 02-01-2013, 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.
ICICI Prudential ELSS - Tax Saver Fund (Direct)
Nippon India ELSS Tax Saver 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.
ICICI Prudential ELSS - Tax Saver Fund (Direct)
Nippon India ELSS Tax Saver 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.
ICICI Prudential ELSS - Tax Saver Fund (Direct)
Nippon India ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ICICI Prudential ELSS - Tax Saver Fund (Direct) | 97% | 88% | 4.73% |
| Nippon India ELSS Tax Saver Fund (Direct) | 115% | 121% | 7.13% |
From month-end values since 02-01-2013. 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.
ICICI Prudential ELSS - Tax Saver vs Nippon India ELSS Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: ICICI Prudential ELSS - Tax Saver Fund, September 2026; Nippon India ELSS Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 38.5%
- Held by both
- 19
- Only in ICICI Prudential ELSS - Tax Saver
- 66
- Only in Nippon India ELSS Tax Saver
- 43
| Security | % of ICICI Prudential ELSS - Tax Saver | % of Nippon India ELSS Tax Saver |
|---|---|---|
| HDFC Bank Ltd. | 7.24% | 7.89% |
| ICICI Bank Ltd. | 7.90% | 7.03% |
| Axis Bank Ltd. | 5.68% | 4.09% |
| NTPC Ltd. | 3.34% | 3.21% |
| Reliance Industries Ltd. | 4.98% | 2.78% |
| Eternal Ltd. | 1.97% | 2.50% |
| Bharti Airtel Ltd. | 1.83% | 2.85% |
| Avenue Supermarts Ltd. | 5.39% | 1.54% |
| State Bank Of India | 1.48% | 3.34% |
| Mahindra & Mahindra Ltd. | 1.32% | 1.67% |
| Rural Electrification Corporation Ltd. | 1.02% | 1.32% |
| Samvardhana Motherson International Ltd. | 1.00% | 3.36% |
| SBI Life Insurance Company Ltd. | 1.79% | 0.96% |
| Infosys Ltd. | 0.91% | 2.29% |
| Ambuja Cements Ltd. | 0.70% | 0.72% |
| Tata Consultancy Services Ltd. | 0.54% | 0.58% |
| Trent Ltd. | 0.41% | 0.84% |
| Interglobe Aviation Ltd. | 1.79% | 0.35% |
| SIEMENS ENERGY INDIA LTD | 0.16% | 0.53% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 38.5% means 38.5% 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 ICICI Prudential ELSS - Tax Saver Fund
| Security | % of fund |
|---|---|
| TVS Motor Company Ltd. | 4.86% |
| Sun Pharmaceutical Industries Ltd. | 4.71% |
| Larsen & Toubro Ltd. | 4.20% |
| Maruti Suzuki India Ltd. | 3.29% |
| Ultratech Cement Ltd. | 2.32% |
Largest holdings only in Nippon India ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| Radico Khaitan Limited | 2.63% |
| Divi's Laboratories Limited | 2.44% |
| TVS Holdings Limited | 2.28% |
| Power Finance Corporation Limited | 2.10% |
| Gland Pharma Limited | 2.06% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ICICI Prudential ELSS - Tax Saver | Nippon India ELSS Tax Saver |
|---|---|---|
| Equity | 96.0% | 99.1% |
| Debt | 0.0% | 0.1% |
| Cash and others | 4.0% | 0.8% |
Market cap of stocks
| Market cap | ICICI Prudential ELSS - Tax Saver | Nippon India ELSS Tax Saver |
|---|---|---|
| Large Cap | 72.5% | 64.4% |
| Mid Cap | 6.4% | 19.9% |
| Small Cap | 17.1% | 14.8% |
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 | ICICI Prudential ELSS - Tax Saver | Nippon India ELSS Tax Saver |
|---|---|---|
| Banks | 22.7% | 24.4% |
| Automobiles | 10.6% | 1.7% |
| Retailing | 9.1% | 5.7% |
| Finance | 3.7% | 7.9% |
| Beverages | 0.0% | 6.7% |
| Pharmaceuticals & Biotechnology | 6.7% | 6.1% |
| Power | 3.3% | 6.5% |
| Petroleum Products | 5.0% | 2.8% |
| Construction | 4.5% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
ICICI Prudential ELSS - Tax Saver vs Nippon India ELSS Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ICICI Prudential ELSS - Tax Saver Fund | Nippon India ELSS Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.21% | 1.13% |
| Base expense ratio (Direct) | 0.96% | 0.88% |
| Total expense ratio (Regular) | 1.79% | 1.79% |
| Base expense ratio (Regular) | 1.47% | 1.46% |
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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Compare Nippon India ELSS Tax Saver with
ICICI Prudential ELSS - Tax Saver Fund vs Nippon India ELSS Tax Saver Fund: Frequently Asked Questions
What is the difference between ICICI Prudential ELSS - Tax Saver Fund and Nippon India ELSS Tax Saver Fund?
Both are ELSS funds, run by ICICI Prudential Mutual Fund and Nippon India Mutual Fund. Their portfolios overlap 38.5%. ICICI Prudential ELSS - Tax Saver Fund charges 1.21% a year and Nippon India ELSS Tax Saver Fund 1.13%.
Which has given higher returns, ICICI Prudential ELSS - Tax Saver Fund or Nippon India ELSS Tax Saver Fund?
Over 1 year: ICICI Prudential ELSS - Tax Saver Fund −8.40%, Nippon India ELSS Tax Saver Fund −5.26%. Over 3 years: ICICI Prudential ELSS - Tax Saver Fund +10.35% a year, Nippon India ELSS Tax Saver Fund +11.93% a year. Over 5 years: ICICI Prudential ELSS - Tax Saver Fund +8.52% a year, Nippon India ELSS Tax Saver Fund +10.64% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, ICICI Prudential ELSS - Tax Saver Fund or Nippon India ELSS Tax Saver Fund?
Nippon India ELSS Tax Saver Fund charges less: 1.13% a year against 1.21%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ICICI Prudential ELSS - Tax Saver Fund and Nippon India ELSS Tax Saver Fund overlap?
38.5%. They hold 19 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, ICICI Prudential ELSS - Tax Saver Fund or Nippon India ELSS Tax Saver Fund?
On SEBI's riskometer, ICICI Prudential ELSS - Tax Saver Fund is rated Very High and Nippon India ELSS Tax Saver Fund Very High. Over 3 years, the standard deviation of daily returns was 12.59% and 14.36% a year.
Which is better for SIP, ICICI Prudential ELSS - Tax Saver Fund or Nippon India 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 ₹7,42,077 in ICICI Prudential ELSS - Tax Saver Fund (XIRR 7.7% a year) and ₹7,76,675 in Nippon India ELSS Tax Saver Fund (XIRR 9.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both ICICI Prudential ELSS - Tax Saver Fund and Nippon India ELSS Tax Saver Fund?
Yes. 38.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ICICI Prudential ELSS - Tax Saver Fund and Nippon India ELSS Tax Saver Fund?
ICICI Prudential ELSS - Tax Saver Fund: Mittul Kalawadia, Priyanka Khandelwal, Sharmila D'silva. Nippon India ELSS Tax Saver Fund: Rupesh Patel, Ritesh Rathod.
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.