ITI ELSS Tax Saver Fund vs JM ELSS - Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
ITI ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund are both ELSS funds. In the 3 years to 30-10-2026, ITI ELSS Tax Saver Fund (Direct) returned 13.7% a year and JM ELSS - Tax Saver Fund (Direct) returned 15.6% a year. ITI ELSS Tax Saver Fund charges 0.93% a year and JM ELSS - Tax Saver Fund 1.34% (Direct plans). Their portfolios overlap 19.8%: they hold 13 of the same securities.
JM ELSS - Tax Saver Fund
ELSS
- 3 year return
- 15.6%
- Expense ratio
- 1.34%
- NAV
- ₹57.26
Which is better, ITI 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 11.2%.
- JM ELSS - Tax Saver returned more over 3 years: 15.6% a year against 13.7%.
- ITI ELSS Tax Saver costs less: 0.93% a year against 1.34% (Direct plans).
- JM ELSS - Tax Saver swung less over 3 years: a standard deviation of 16.1% a year against 17.5%.
- JM ELSS - Tax Saver fell less in its worst fall since 25-10-2019: −37.4% against −38.5%.
- ITI ELSS Tax Saver is the larger fund: ₹445 Cr against ₹240 Cr.
- Their portfolios overlap 19.8%: 13 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 | ITI ELSS Tax Saver Fund | JM ELSS - Tax Saver Fund |
|---|---|---|
| Fund house | ITI Mutual Fund | JM Financial Mutual Fund |
| Category | ELSS | ELSS |
| AUM | ₹445 Cr (30-09-2026) | ₹240 Cr (30-09-2026) |
| NAV | ₹26.31 (Direct) | ₹57.26 (Direct) |
| Expense ratio (Direct) | 0.93% | 1.34% |
| Expense ratio (Regular) | 2.60% | 2.68% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | BSE 500 TRI |
| Launch date | 18-10-2019 | 31-03-2008 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | 3 years | 3 years |
| Fund managers | Dhimant Shah | Deepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi Fozdar |
| Exit load | Nil | Nil |
ITI 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 |
|---|---|---|---|---|---|---|---|
| ITI ELSS Tax Saver Fund (Direct) | −6.59% | −7.59% | −3.93% | −7.52% | +13.67% | +11.23% | -- |
| 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.
ITI ELSS Tax Saver vs JM ELSS - Tax Saver: Year-wise Returns
| Year | ITI ELSSITI ELSS Tax Saver | JM ELSS -JM ELSS - Tax Saver |
|---|---|---|
| 2026to date | −5.14% | −0.54% |
| 2025 | +4.45% | +3.83% |
| 2024 | +24.47% | +30.64% |
| 2023 | +39.06% | +32.19% |
| 2022 | +4.60% | +1.47% |
| 2021 | +21.63% | +33.15% |
ITI ELSS Tax Saver vs JM ELSS - Tax Saver: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of ITI ELSS Tax Saver Fund
Rolling returns
Every 3-year holding period, 987 of them, one for each trading day from 25-10-2022 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.
ITI ELSS Tax Saver Fund (Direct)
JM ELSS - Tax Saver Fund (Direct)
Nifty 500 TRI
to
Feb 2023Oct 2020
to
Oct 2023Jul 2021
to
Jul 2024Mar 2022
to
Mar 2025Nov 2022
to
Nov 2025Jul 2023
to
Jul 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ITI ELSS Tax Saver | 0.0 | 0.0 | 0.0 | 10.5 | 28.2 | 54.2 | 7.1 | 20.4% | 20.7% | 10.6% | 29.5% | 74% |
| JM ELSS - Tax Saver | 0.0 | 0.0 | 0.0 | 1.2 | 36.1 | 41.6 | 21.1 | 21.5% | 21.1% | 14.2% | 33.2% | 90% |
| Nifty 500 TRI | 0.0 | 0.0 | 1.9 | 19.1 | 52.9 | 18.2 | 7.8 | 18.1% | 17.6% | 8.8% | 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 25-10-2019. Past returns do not promise future returns.
ITI 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 25-10-2019 to 30-10-2026: 85 instalments, ₹8,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| ITI ELSS Tax SaverITI ELSS Tax Saver Fund (Direct) | ₹8,50,000 | ₹13,86,384 | ₹5,36,384 | 13.6% |
| JM ELSS - Tax SaverJM ELSS - Tax Saver Fund (Direct) | ₹8,50,000 | ₹15,06,226 | ₹6,56,226 | 15.9% |
ITI ELSS Tax SaverITI 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.
ITI 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 | ITI ELSS Tax Saver Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.52% | −1.27% |
| Standard deviation | 18.03% | 15.50% |
| Sharpe ratio | -0.71 | -0.42 |
| Sortino ratio | -0.96 | -0.56 |
| Maximum drawdown | −18.5% (31-03-2026) | −16.9% (23-03-2026) |
| Beta | 1.18 | 1.04 |
| Alpha | +2.05% | +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 | ITI ELSS Tax Saver Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.67% | +15.60% |
| Standard deviation | 17.51% | 16.06% |
| Sharpe ratio | 0.44 | 0.60 |
| Sortino ratio | 0.59 | 0.80 |
| Maximum drawdown | −22.6% (28-02-2025) | −20.9% (07-04-2025) |
| Beta | 1.15 | 1.08 |
| Alpha | +2.81% | +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 | ITI ELSS Tax Saver Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.23% | +12.32% |
| Standard deviation | 16.12% | 15.58% |
| Sharpe ratio | 0.34 | 0.42 |
| Sortino ratio | 0.45 | 0.56 |
| Maximum drawdown | −22.6% (28-02-2025) | −20.9% (07-04-2025) |
| Beta | 1.05 | 1.04 |
| Alpha | +2.25% | +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 | ITI ELSS Tax Saver Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +14.69% | +16.16% |
| Standard deviation | 17.91% | 16.95% |
| Sharpe ratio | 0.53 | 0.60 |
| Sortino ratio | 0.70 | 0.81 |
| Maximum drawdown | −38.5% (23-03-2020) | −37.4% (23-03-2020) |
| Beta | 0.98 | 1.02 |
| Alpha | +1.01% | +3.19% |
From daily NAVs, 25-10-2019 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.
ITI ELSS Tax Saver Fund (Direct)
JM 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 |
|---|---|---|---|---|---|---|
| ITI ELSS Tax Saver Fund (Direct) | −38.5% | 24-01-2020 | 23-03-2020 | 17-11-2020 | 8 months | −10.8% |
| JM ELSS - Tax Saver Fund (Direct) | −37.4% | 19-02-2020 | 23-03-2020 | 10-11-2020 | 8 months | −7.2% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 25-10-2019, 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.
ITI ELSS Tax Saver Fund (Direct)
JM 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.
ITI ELSS Tax Saver Fund (Direct)
JM 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.
ITI ELSS Tax Saver Fund (Direct)
JM ELSS - Tax Saver Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| ITI ELSS Tax Saver Fund (Direct) | 105% | 102% | 7.10% |
| JM ELSS - Tax Saver Fund (Direct) | 106% | 94% | 5.62% |
From month-end values since 25-10-2019. 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.
ITI ELSS Tax Saver vs JM ELSS - Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: ITI ELSS Tax Saver Fund, September 2026; JM ELSS - Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 19.8%
- Held by both
- 13
- Only in ITI ELSS Tax Saver
- 58
- Only in JM ELSS - Tax Saver
- 40
| Security | % of ITI ELSS Tax Saver | % of JM ELSS - Tax Saver |
|---|---|---|
| HDFC Bank Limited | 2.39% | 2.90% |
| State Bank of India | 2.34% | 2.01% |
| Bajaj Finance Limited | 2.54% | 1.94% |
| ICICI Bank Limited | 1.86% | 2.67% |
| PNB Housing Finance Limited | 1.84% | 1.69% |
| Mahindra & Mahindra Limited | 2.21% | 1.63% |
| Larsen & Toubro Limited | 1.54% | 1.75% |
| Bharti Airtel Limited | 1.48% | 2.41% |
| Manappuram Finance Limited | 1.34% | 2.03% |
| Karur Vysya Bank Limited | 1.20% | 2.69% |
| Shriram Finance Limited | 1.18% | 1.70% |
| Kotak Mahindra Bank Limited | 0.83% | 2.11% |
| Eternal Limited | 0.74% | 2.08% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 19.8% means 19.8% 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 ITI ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| TVS Motor Company Limited | 2.90% |
| Sansera Engineering Limited | 2.80% |
| Cholamandalam Investment and Finance Company Ltd | 2.80% |
| Welspun Corp Limited | 2.65% |
| Sanghvi Movers Limited | 2.25% |
Largest holdings only in JM ELSS - Tax Saver Fund
| Security | % of fund |
|---|---|
| SYRMA SGS TECHNOLOGY LIMITED | 3.41% |
| One 97 Communications Limited | 3.31% |
| Reliance Industries Limited | 2.64% |
| CarTrade Tech Limited | 2.30% |
| EPL Limited | 2.19% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | ITI ELSS Tax Saver | JM ELSS - Tax Saver |
|---|---|---|
| Equity | 99.0% | 98.9% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.0% | 1.1% |
Market cap of stocks
| Market cap | ITI ELSS Tax Saver | JM ELSS - Tax Saver |
|---|---|---|
| Large Cap | 28.6% | 35.1% |
| Mid Cap | 7.3% | 18.2% |
| Small Cap | 60.0% | 45.5% |
| Not on AMFI's list | 3.1% | 0.0% |
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 | ITI ELSS Tax Saver | JM ELSS - Tax Saver |
|---|---|---|
| Finance | 17.4% | 10.1% |
| Banks | 14.0% | 12.4% |
| Industrial Products | 10.3% | 4.0% |
| Retailing | 0.7% | 6.4% |
| Auto Components | 6.0% | 3.5% |
| Pharmaceuticals & Biotechnology | 5.2% | 3.1% |
| Automobiles | 5.1% | 4.7% |
| Industrial Manufacturing | 1.8% | 5.0% |
| Commercial Services & Supplies | 4.7% | 4.9% |
The six largest sectors of each fund's stocks, % of the fund.
ITI ELSS Tax Saver vs JM ELSS - Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | ITI ELSS Tax Saver Fund | JM ELSS - Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.93% | 1.34% |
| Base expense ratio (Direct) | 0.62% | 0.93% |
| Total expense ratio (Regular) | 2.60% | 2.68% |
| Base expense ratio (Regular) | 2.10% | 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 ITI ELSS Tax Saver with
ITI ELSS Tax Saver Fund vs JM ELSS - Tax Saver Fund: Frequently Asked Questions
What is the difference between ITI ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund?
Both are ELSS funds, run by ITI Mutual Fund and JM Financial Mutual Fund. Their portfolios overlap 19.8%. ITI ELSS Tax Saver Fund charges 0.93% a year and JM ELSS - Tax Saver Fund 1.34%.
Which has given higher returns, ITI ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund?
Over 1 year: ITI ELSS Tax Saver Fund −7.52%, JM ELSS - Tax Saver Fund −1.27%. Over 3 years: ITI ELSS Tax Saver Fund +13.67% a year, JM ELSS - Tax Saver Fund +15.60% a year. Over 5 years: ITI ELSS Tax Saver Fund +11.23% 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, ITI ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund?
ITI ELSS Tax Saver Fund charges less: 0.93% a year against 1.34%. These are the Direct plans' total expense ratios reported to AMFI.
How much do ITI ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund overlap?
19.8%. They hold 13 of the same securities, the largest shared ones being HDFCBANK, SBIN, BAJFINANCE. From each fund's latest monthly portfolio.
Which is riskier, ITI ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund?
On SEBI's riskometer, ITI 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 17.51% and 16.06% a year.
Which is better for SIP, ITI 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 ₹8,06,098 in ITI ELSS Tax Saver Fund (XIRR 10.9% 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 ITI ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund?
Yes. 19.8% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages ITI ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund?
ITI ELSS Tax Saver Fund: Dhimant Shah. 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.