Invesco India Contra Fund vs Invesco India ELSS Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
Invesco India Contra Fund is a Value and Contra fund and Invesco India ELSS Tax Saver Fund is an ELSS fund. In the 3 years to 30-10-2026, Invesco India Contra Fund (Direct) returned 14.2% a year and Invesco India ELSS Tax Saver Fund (Direct) returned 11.3% a year. Invesco India Contra Fund charges 0.76% a year and Invesco India ELSS Tax Saver Fund 1.21% (Direct plans). Their portfolios overlap 40.7%: they hold 34 of the same securities.
Invesco India Contra Fund
Value and Contra
- 3 year return
- 14.2%
- Expense ratio
- 0.76%
- NAV
- ₹152.34
Invesco India ELSS Tax Saver Fund
ELSS
- 3 year return
- 11.3%
- Expense ratio
- 1.21%
- NAV
- ₹143.26
Which is better, Invesco India Contra or Invesco 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.
- Invesco India Contra returned more over 5 years: 11.8% a year against 8.5%.
- Invesco India Contra returned more over 3 years: 14.2% a year against 11.3%.
- Invesco India Contra costs less: 0.76% a year against 1.21% (Direct plans).
- Invesco India ELSS Tax Saver swung less over 3 years: a standard deviation of 14.8% a year against 14.9%.
- Invesco India ELSS Tax Saver fell less in its worst fall since 02-01-2013: −35.8% against −36.5%.
- Invesco India Contra holds more in large companies: 52.2% of the fund in large caps against 38.8%.
- Invesco India Contra is the larger fund: ₹19,248 Cr against ₹2,598 Cr.
- Their portfolios overlap 40.7%: 34 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 | Invesco India Contra Fund | Invesco India ELSS Tax Saver Fund |
|---|---|---|
| Fund house | Invesco Mutual Fund | Invesco Mutual Fund |
| Category | Value and Contra | ELSS |
| AUM | ₹19,248 Cr (30-09-2026) | ₹2,598 Cr (30-09-2026) |
| NAV | ₹152.34 (Direct) | ₹143.26 (Direct) |
| Expense ratio (Direct) | 0.76% | 1.21% |
| Expense ratio (Regular) | 1.85% | 2.30% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | BSE 500 TRI |
| Launch date | 11-04-2007 | 29-12-2006 |
| Minimum investment | Not available | Not available |
| Lock in | None | 3 years |
| Fund managers | Taher Badshah, Deepak Gupta | Depesh Kashyap |
| Exit load | Exit load for units in excess of 10% of the investment, 1% will be charged for redemption within 1 year. | Nil |
Invesco India Contra vs Invesco 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 |
|---|---|---|---|---|---|---|---|
| Invesco India Contra Fund (Direct) | −0.30% | −4.19% | +0.91% | −6.49% | +14.19% | +11.77% | +15.21% |
| Invesco India ELSS Tax Saver Fund (Direct) | −1.84% | −3.92% | +3.50% | −6.34% | +11.35% | +8.46% | +13.20% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | +12.63% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
Category average: the average of the 30 Value and Contra funds and the 50 ELSS funds, same plan type.
Invesco India Contra vs Invesco India ELSS Tax Saver: Year-wise Returns
| Year | ContraInvesco India Contra | ELSS Tax SaverInvesco India ELSS Tax Saver | BSE 500 TRI |
|---|---|---|---|
| 2026to date | −6.43% | −3.18% | −7.81% |
| 2025 | +4.26% | −1.73% | +7.63% |
| 2024 | +31.65% | +26.67% | +15.81% |
| 2023 | +30.29% | +32.41% | +26.55% |
| 2022 | +5.09% | −6.45% | +4.77% |
| 2021 | +31.26% | +34.21% | +31.63% |
Invesco India Contra vs Invesco India 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, 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.
Invesco India Contra Fund (Direct)
Invesco India ELSS Tax Saver Fund (Direct)
BSE 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco India Contra | 0.2 | 2.1 | 6.2 | 11.8 | 35.0 | 31.8 | 12.9 | 18.9% | 19.3% | −2.8% | 37.0% | 94% |
| Invesco India ELSS Tax Saver | 0.1 | 2.3 | 6.6 | 28.2 | 39.2 | 19.0 | 4.6 | 16.6% | 16.4% | −2.0% | 32.7% | 77% |
| BSE 500 TRI | 1.8 | 4.2 | 8.0 | 36.8 | 34.2 | 11.7 | 3.3 | 14.8% | 14.9% | −6.2% | 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 02-01-2013. Past returns do not promise future returns.
Invesco India Contra vs Invesco 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 |
|---|---|---|---|---|
| Invesco India ContraInvesco India Contra Fund (Direct) | ₹16,60,000 | ₹55,77,963 | ₹39,17,963 | 16.1% |
| Invesco India ELSS Tax SaverInvesco India ELSS Tax Saver Fund (Direct) | ₹16,60,000 | ₹47,14,283 | ₹30,54,283 | 14.0% |
Invesco India ContraInvesco India Contra Fund (Direct)
Invesco India ELSS Tax SaverInvesco 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.
Invesco India Contra vs Invesco India ELSS Tax Saver: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Invesco India Contra Fund (Direct) | Invesco India ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.49% | −6.34% |
| Standard deviation | 15.31% | 15.46% |
| Sharpe ratio | -0.77 | -0.75 |
| Sortino ratio | -1.04 | -1.00 |
| Maximum drawdown | −16.5% (30-03-2026) | −18.7% (31-03-2026) |
| Beta | 1.05 | 1.05 |
| Alpha | +1.84% | +1.92% |
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 | Invesco India Contra Fund (Direct) | Invesco India ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.19% | +11.35% |
| Standard deviation | 14.87% | 14.75% |
| Sharpe ratio | 0.55 | 0.36 |
| Sortino ratio | 0.75 | 0.49 |
| Maximum drawdown | −18.6% (28-02-2025) | −20.6% (31-03-2026) |
| Beta | 1.02 | 1.00 |
| Alpha | +4.20% | +1.47% |
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 | Invesco India Contra Fund (Direct) | Invesco India ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.77% | +8.46% |
| Standard deviation | 14.41% | 14.59% |
| Sharpe ratio | 0.41 | 0.18 |
| Sortino ratio | 0.56 | 0.24 |
| Maximum drawdown | −18.6% (28-02-2025) | −22.5% (20-06-2022) |
| Beta | 0.99 | 0.98 |
| Alpha | +3.16% | −0.15% |
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 | Invesco India Contra Fund (Direct) | Invesco India ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.92% | +15.39% |
| Standard deviation | 15.82% | 15.32% |
| Sharpe ratio | 0.69 | 0.61 |
| Sortino ratio | 0.93 | 0.83 |
| Maximum drawdown | −36.5% (23-03-2020) | −35.8% (23-03-2020) |
| Beta | 0.97 | 0.94 |
| Alpha | +4.31% | +2.99% |
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.
Invesco India Contra Fund (Direct)
Invesco India 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 |
|---|---|---|---|---|---|---|
| Invesco India Contra Fund (Direct) | −36.5% | 20-02-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.3% |
| Invesco India ELSS Tax Saver Fund (Direct) | −35.8% | 19-02-2020 | 23-03-2020 | 09-11-2020 | 8 months | −8.4% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
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.
Invesco India Contra Fund (Direct)
Invesco India 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.
Invesco India Contra Fund (Direct)
Invesco India 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.
Invesco India Contra Fund (Direct)
Invesco India ELSS Tax Saver Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Invesco India Contra Fund (Direct) | 109% | 92% | 4.53% |
| Invesco India ELSS Tax Saver Fund (Direct) | 103% | 92% | 4.48% |
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.
Invesco India Contra vs Invesco India ELSS Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: Invesco India Contra Fund, September 2026; Invesco India ELSS Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 40.7%
- Held by both
- 34
- Only in Invesco India Contra
- 37
- Only in Invesco India ELSS Tax Saver
- 42
| Security | % of Invesco India Contra | % of Invesco India ELSS Tax Saver |
|---|---|---|
| ICICI Bank Limited | 5.90% | 3.55% |
| Axis Bank Limited | 2.38% | 2.11% |
| Bharti Airtel Limited | 2.40% | 1.78% |
| Coforge Limited | 2.02% | 1.77% |
| Divi's Laboratories Limited | 1.65% | 2.20% |
| The Federal Bank Limited | 2.13% | 1.60% |
| Kotak Mahindra Bank Ltd | 1.43% | 1.96% |
| Mahindra & Mahindra Limited | 2.95% | 1.42% |
| Prestige Estates Projects Limited | 1.96% | 1.35% |
| Shriram Finance Limited | 1.36% | 1.25% |
| Global Health Limited | 1.49% | 1.24% |
| State Bank of India | 3.07% | 1.22% |
| Multi Commodity Exchange of India Limited | 1.20% | 1.92% |
| Cholamandalam Investment and Finance Company Limited | 2.45% | 1.18% |
| RBL Bank Limited | 1.42% | 1.10% |
| Tata Motors Ltd | 1.83% | 1.09% |
| Tech Mahindra Limited | 1.45% | 1.09% |
| Jyoti CNC Automation Ltd | 1.08% | 2.51% |
| KFin Technologies Limited | 1.07% | 1.05% |
| FSN E-Commerce Ventures Limited | 1.76% | 1.04% |
| Entero Healthcare Solutions Ltd | 1.06% | 1.01% |
| Swiggy Limited | 1.03% | 0.99% |
| Apollo Hospitals Enterprise Limited | 2.06% | 0.98% |
| InterGlobe Aviation Limited | 0.98% | 2.03% |
| Infosys Limited | 2.16% | 0.93% |
| Craftsman Automation Limited | 1.07% | 0.88% |
| Jubilant Foodworks Limited | 0.88% | 1.33% |
| Delhivery Limited | 1.54% | 0.87% |
| Adani Enterprises Limited | 1.19% | 0.87% |
| Honeywell Automation India Limited | 0.85% | 1.31% |
| BSE Limited | 0.96% | 0.82% |
| Torrent Pharmaceuticals Limited | 0.76% | 0.94% |
| GMM Pfaudler Limited | 0.35% | 0.98% |
| Arvind Limited | 0.33% | 1.15% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40.7% means 40.7% 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 Invesco India Contra Fund
| Security | % of fund |
|---|---|
| Larsen & Toubro Limited | 4.84% |
| Glenmark Pharmaceuticals Limited | 2.06% |
| Meesho Ltd | 1.98% |
| Reliance Industries Limited | 1.89% |
| IndusInd Bank Limited | 1.86% |
Largest holdings only in Invesco India ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 5.05% |
| Eternal Limited | 2.05% |
| Mrs. Bectors Food Specialities Ltd | 1.88% |
| Bajaj Finance Ltd | 1.84% |
| Indiqube Spaces Limited | 1.77% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Invesco India Contra | Invesco India ELSS Tax Saver |
|---|---|---|
| Equity | 96.6% | 98.3% |
| Debt | 0.0% | 0.0% |
| Cash and others | 3.4% | 1.7% |
Market cap of stocks
| Market cap | Invesco India Contra | Invesco India ELSS Tax Saver |
|---|---|---|
| Large Cap | 52.2% | 38.8% |
| Mid Cap | 21.1% | 21.6% |
| Small Cap | 22.5% | 36.2% |
| Not on AMFI's list | 0.7% | 1.8% |
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 | Invesco India Contra | Invesco India ELSS Tax Saver |
|---|---|---|
| Banks | 19.3% | 16.6% |
| Capital Markets | 5.0% | 8.0% |
| Pharmaceuticals & Biotechnology | 7.9% | 5.3% |
| IT - Software | 7.8% | 5.1% |
| Auto Components | 3.1% | 6.8% |
| Retailing | 6.7% | 5.4% |
| Construction | 5.7% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Invesco India Contra vs Invesco India ELSS Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Invesco India Contra Fund | Invesco India ELSS Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.76% | 1.21% |
| Base expense ratio (Direct) | 0.49% | 0.76% |
| Total expense ratio (Regular) | 1.85% | 2.30% |
| Base expense ratio (Regular) | 1.42% | 1.71% |
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 Invesco India Contra with
Compare Invesco India ELSS Tax Saver with
Invesco India Contra Fund vs Invesco India ELSS Tax Saver Fund: Frequently Asked Questions
What is the difference between Invesco India Contra Fund and Invesco India ELSS Tax Saver Fund?
Invesco India Contra Fund is a Value and Contra fund, Invesco India ELSS Tax Saver Fund is an ELSS fund, run by Invesco Mutual Fund. Their portfolios overlap 40.7%. Invesco India Contra Fund charges 0.76% a year and Invesco India ELSS Tax Saver Fund 1.21%.
Which has given higher returns, Invesco India Contra Fund or Invesco India ELSS Tax Saver Fund?
Over 1 year: Invesco India Contra Fund −6.49%, Invesco India ELSS Tax Saver Fund −6.34%. Over 3 years: Invesco India Contra Fund +14.19% a year, Invesco India ELSS Tax Saver Fund +11.35% a year. Over 5 years: Invesco India Contra Fund +11.77% a year, Invesco India ELSS Tax Saver Fund +8.46% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Invesco India Contra Fund or Invesco India ELSS Tax Saver Fund?
Invesco India Contra Fund charges less: 0.76% a year against 1.21%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Invesco India Contra Fund and Invesco India ELSS Tax Saver Fund overlap?
40.7%. They hold 34 of the same securities, the largest shared ones being ICICIBANK, AXISBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, Invesco India Contra Fund or Invesco India ELSS Tax Saver Fund?
On SEBI's riskometer, Invesco India Contra Fund is rated Very High and Invesco India ELSS Tax Saver Fund Very High. Over 3 years, the standard deviation of daily returns was 14.87% and 14.75% a year.
Which is better for SIP, Invesco India Contra Fund or Invesco 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 ₹8,03,061 in Invesco India Contra Fund (XIRR 10.8% a year) and ₹7,62,847 in Invesco India ELSS Tax Saver Fund (XIRR 8.7% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Invesco India Contra Fund and Invesco India ELSS Tax Saver Fund?
Yes. 40.7% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Invesco India Contra Fund and Invesco India ELSS Tax Saver Fund?
Invesco India Contra Fund: Taher Badshah, Deepak Gupta. Invesco India ELSS Tax Saver Fund: Depesh Kashyap.
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.