JM Aggressive Hybrid Fund vs JM ELSS - Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM Aggressive Hybrid Fund is an Aggressive Hybrid fund and JM ELSS - Tax Saver Fund is an ELSS fund. In the 3 years to 30-10-2026, JM Aggressive Hybrid Fund (Direct) returned 11.8% a year and JM ELSS - Tax Saver Fund (Direct) returned 15.6% a year. JM Aggressive Hybrid Fund charges 1.16% a year and JM ELSS - Tax Saver Fund 1.34% (Direct plans). Their portfolios overlap 31.7%: they hold 19 of the same securities.
JM Aggressive Hybrid Fund
Aggressive Hybrid
- 3 year return
- 11.8%
- Expense ratio
- 1.16%
- NAV
- ₹134.15
JM ELSS - Tax Saver Fund
ELSS
- 3 year return
- 15.6%
- Expense ratio
- 1.34%
- NAV
- ₹57.26
Which is better, JM Aggressive Hybrid 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 12.1%.
- JM ELSS - Tax Saver returned more over 3 years: 15.6% a year against 11.8%.
- JM Aggressive Hybrid costs less: 1.16% a year against 1.34% (Direct plans).
- JM Aggressive Hybrid swung less over 3 years: a standard deviation of 12.5% a year against 16.1%.
- JM Aggressive Hybrid fell less in its worst fall since 03-01-2013: −36.6% against −37.4%.
- JM Aggressive Hybrid is the larger fund: ₹654 Cr against ₹240 Cr.
- Their portfolios overlap 31.7%: 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 | JM Aggressive Hybrid Fund | JM ELSS - Tax Saver Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | JM Financial Mutual Fund |
| Category | Aggressive Hybrid | ELSS |
| AUM | ₹654 Cr (30-09-2026) | ₹240 Cr (30-09-2026) |
| NAV | ₹134.15 (Direct) | ₹57.26 (Direct) |
| Expense ratio (Direct) | 1.16% | 1.34% |
| Expense ratio (Regular) | 2.69% | 2.68% |
| Riskometer | Very High | Very High |
| Benchmark | CRISIL Hybrid 35+65 - Aggressive Index | BSE 500 TRI |
| Launch date | 01-04-1995 | 31-03-2008 |
| Minimum investment | ₹1,000 | ₹500 |
| Lock in | None | 3 years |
| Fund managers | Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar | Deepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi Fozdar |
| Exit load | 1.00% of NAV on all investment (including SIP/ STP/ SWP) transactions, if redeemed / switched-out within 60 days of transfer/ allotment of units in normal transactions/ allotment of units of respective installments in SIP/ STP/ SWP transactions | Nil |
JM Aggressive Hybrid 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 |
|---|---|---|---|---|---|---|---|
| JM Aggressive Hybrid Fund (Direct) | −1.58% | −3.18% | +1.49% | −5.13% | +11.76% | +12.14% | +12.55% |
| JM ELSS - Tax Saver Fund (Direct) | −3.36% | −4.03% | +5.11% | −1.27% | +15.60% | +12.32% | +15.40% |
| Aggressive Hybrid average | −0.88% | −3.67% | −0.27% | −3.33% | +10.77% | +9.35% | +11.60% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
Category average: the average of the 29 Aggressive Hybrid funds and the 50 ELSS funds, same plan type.
JM Aggressive Hybrid vs JM ELSS - Tax Saver: Year-wise Returns
| Year | Aggressive HybridJM Aggressive Hybrid | ELSS - Tax SaverJM ELSS - Tax Saver |
|---|---|---|
| 2026to date | −2.73% | −0.54% |
| 2025 | −1.55% | +3.83% |
| 2024 | +29.28% | +30.64% |
| 2023 | +35.47% | +32.19% |
| 2022 | +9.13% | +1.47% |
| 2021 | +23.91% | +33.15% |
JM Aggressive Hybrid vs JM ELSS - Tax Saver: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of JM ELSS - Tax Saver Fund
Rolling returns
Every 3-year holding period, 2,672 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.
JM Aggressive Hybrid Fund (Direct)
JM 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JM Aggressive Hybrid | 3.0 | 10.5 | 19.9 | 18.8 | 16.2 | 23.3 | 8.3 | 14.3% | 14.6% | −9.1% | 34.1% | 44% |
| JM ELSS - Tax Saver | 1.3 | 4.6 | 2.3 | 16.7 | 37.3 | 25.5 | 12.2 | 17.9% | 17.9% | −3.5% | 33.2% | 91% |
| 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 03-01-2013. Past returns do not promise future returns.
JM Aggressive Hybrid 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 03-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM Aggressive HybridJM Aggressive Hybrid Fund (Direct) | ₹16,60,000 | ₹43,71,173 | ₹27,11,173 | 13.0% |
| JM ELSS - Tax SaverJM ELSS - Tax Saver Fund (Direct) | ₹16,60,000 | ₹55,77,578 | ₹39,17,578 | 16.1% |
JM Aggressive HybridJM Aggressive Hybrid 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.
JM Aggressive Hybrid 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 | JM Aggressive Hybrid Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.13% | −1.27% |
| Standard deviation | 12.70% | 15.50% |
| Sharpe ratio | -0.82 | -0.42 |
| Sortino ratio | -1.09 | -0.56 |
| Maximum drawdown | −13.7% (30-03-2026) | −16.9% (23-03-2026) |
| Beta | -- | 1.04 |
| Alpha | -- | +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 | JM Aggressive Hybrid Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.76% | +15.60% |
| Standard deviation | 12.46% | 16.06% |
| Sharpe ratio | 0.46 | 0.60 |
| Sortino ratio | 0.63 | 0.80 |
| Maximum drawdown | −17.0% (30-03-2026) | −20.9% (07-04-2025) |
| Beta | -- | 1.08 |
| Alpha | -- | +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 | JM Aggressive Hybrid Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.14% | +12.32% |
| Standard deviation | 12.06% | 15.58% |
| Sharpe ratio | 0.53 | 0.42 |
| Sortino ratio | 0.71 | 0.56 |
| Maximum drawdown | −17.0% (30-03-2026) | −20.9% (07-04-2025) |
| Beta | -- | 1.04 |
| Alpha | -- | +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 | JM Aggressive Hybrid Fund (Direct) | JM ELSS - Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.88% | +16.16% |
| Standard deviation | 13.91% | 16.95% |
| Sharpe ratio | 0.49 | 0.60 |
| Sortino ratio | 0.70 | 0.81 |
| Maximum drawdown | −36.6% (23-03-2020) | −37.4% (23-03-2020) |
| Beta | -- | 1.02 |
| Alpha | -- | +3.19% |
From daily NAVs, 03-01-2013 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.
JM Aggressive Hybrid Fund (Direct)
JM 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 |
|---|---|---|---|---|---|---|
| JM Aggressive Hybrid Fund (Direct) | −36.6% | 03-06-2019 | 23-03-2020 | 23-10-2020 | 7 months | −8.8% |
| JM ELSS - Tax Saver Fund (Direct) | −37.4% | 19-02-2020 | 23-03-2020 | 10-11-2020 | 8 months | −7.2% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 03-01-2013, 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.
JM Aggressive Hybrid Fund (Direct)
JM 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.
JM Aggressive Hybrid Fund (Direct)
JM 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.
JM Aggressive Hybrid Fund (Direct)
JM ELSS - Tax Saver Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| JM Aggressive Hybrid Fund (Direct) | 86% | 74% | 8.22% |
| JM ELSS - Tax Saver Fund (Direct) | 109% | 93% | 5.72% |
From month-end values since 03-01-2013. 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.
JM Aggressive Hybrid vs JM ELSS - Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: JM Aggressive Hybrid Fund, September 2026; JM ELSS - Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 31.7%
- Held by both
- 19
- Only in JM Aggressive Hybrid
- 62
- Only in JM ELSS - Tax Saver
- 34
| Security | % of JM Aggressive Hybrid | % of JM ELSS - Tax Saver |
|---|---|---|
| One 97 Communications Limited | 3.80% | 3.31% |
| Bharti Airtel Limited | 2.71% | 2.41% |
| Reliance Industries Limited | 2.21% | 2.64% |
| Kotak Mahindra Bank Limited | 2.42% | 2.11% |
| Eternal Limited | 2.94% | 2.08% |
| ICICI Bank Limited | 2.03% | 2.67% |
| Bajaj Finance Limited | 2.63% | 1.94% |
| United Spirits Limited | 1.76% | 2.09% |
| HDFC Bank Limited | 1.68% | 2.90% |
| Mahindra & Mahindra Limited | 1.94% | 1.63% |
| Tech Mahindra Limited | 1.46% | 1.71% |
| Aditya Vision Ltd | 1.44% | 2.02% |
| Larsen & Toubro Limited | 1.43% | 1.75% |
| Adani Power Limited | 1.30% | 1.65% |
| Maruti Suzuki India Limited | 1.23% | 1.42% |
| INDIA CEMENTS LTD | 1.43% | 1.17% |
| WeWork India Management Limited | 1.09% | 2.04% |
| Bajaj Auto Limited | 0.73% | 1.63% |
| BELRISE INDUSTRIES LIMITED | 0.67% | 1.95% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 31.7% means 31.7% 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 JM Aggressive Hybrid Fund
| Security | % of fund |
|---|---|
| 6.94% GOI 11-May-2036 | 2.67% |
| 6.36% GOI 16-Feb-2031 | 2.29% |
| Apollo Hospitals Enterprise Limited | 2.13% |
| Multi Commodity Exchange of India Ltd. | 2.09% |
| Ujjivan Small Finance Bank Limited | 2.00% |
Largest holdings only in JM ELSS - Tax Saver Fund
| Security | % of fund |
|---|---|
| SYRMA SGS TECHNOLOGY LIMITED | 3.41% |
| Karur Vysya Bank Limited | 2.69% |
| CarTrade Tech Limited | 2.30% |
| EPL Limited | 2.19% |
| Sanathan Textiles Ltd. | 2.04% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM Aggressive Hybrid | JM ELSS - Tax Saver |
|---|---|---|
| Equity | 77.8% | 98.9% |
| Debt | 19.9% | 0.0% |
| Cash and others | 2.3% | 1.1% |
Market cap of stocks
| Market cap | JM Aggressive Hybrid | JM ELSS - Tax Saver |
|---|---|---|
| Large Cap | 43.2% | 35.1% |
| Mid Cap | 16.7% | 18.2% |
| Small Cap | 16.6% | 45.5% |
| Not on AMFI's list | 1.2% | 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 | JM Aggressive Hybrid | JM ELSS - Tax Saver |
|---|---|---|
| Banks | 12.4% | 12.4% |
| Finance | 5.6% | 10.1% |
| Retailing | 5.2% | 6.4% |
| Industrial Manufacturing | 0.0% | 5.0% |
| Commercial Services & Supplies | 1.5% | 4.9% |
| Automobiles | 3.9% | 4.7% |
| Capital Markets | 4.5% | 1.6% |
| Financial Technology (Fintech) | 3.8% | 3.3% |
The six largest sectors of each fund's stocks, % of the fund.
JM Aggressive Hybrid vs JM ELSS - Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM Aggressive Hybrid Fund | JM ELSS - Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.16% | 1.34% |
| Base expense ratio (Direct) | 0.75% | 0.93% |
| Total expense ratio (Regular) | 2.69% | 2.68% |
| Base expense ratio (Regular) | 2.06% | 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 JM Aggressive Hybrid with
JM Aggressive Hybrid Fund vs JM ELSS - Tax Saver Fund: Frequently Asked Questions
What is the difference between JM Aggressive Hybrid Fund and JM ELSS - Tax Saver Fund?
JM Aggressive Hybrid Fund is an Aggressive Hybrid fund, JM ELSS - Tax Saver Fund is an ELSS fund, run by JM Financial Mutual Fund. Their portfolios overlap 31.7%. JM Aggressive Hybrid Fund charges 1.16% a year and JM ELSS - Tax Saver Fund 1.34%.
Which has given higher returns, JM Aggressive Hybrid Fund or JM ELSS - Tax Saver Fund?
Over 1 year: JM Aggressive Hybrid Fund −5.13%, JM ELSS - Tax Saver Fund −1.27%. Over 3 years: JM Aggressive Hybrid Fund +11.76% a year, JM ELSS - Tax Saver Fund +15.60% a year. Over 5 years: JM Aggressive Hybrid Fund +12.14% 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, JM Aggressive Hybrid Fund or JM ELSS - Tax Saver Fund?
JM Aggressive Hybrid Fund charges less: 1.16% a year against 1.34%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM Aggressive Hybrid Fund and JM ELSS - Tax Saver Fund overlap?
31.7%. They hold 19 of the same securities, the largest shared ones being PAYTM, BHARTIARTL, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, JM Aggressive Hybrid Fund or JM ELSS - Tax Saver Fund?
On SEBI's riskometer, JM Aggressive Hybrid Fund is rated Very High and JM ELSS - Tax Saver Fund Very High. Over 3 years, the standard deviation of daily returns was 12.46% and 16.06% a year.
Which is better for SIP, JM Aggressive Hybrid 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 ₹7,99,769 in JM Aggressive Hybrid Fund (XIRR 10.6% 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 JM Aggressive Hybrid Fund and JM ELSS - Tax Saver Fund?
Yes. 31.7% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM Aggressive Hybrid Fund and JM ELSS - Tax Saver Fund?
JM Aggressive Hybrid Fund: Asit Bhandarkar, Satish Ramanathan, Deepak Gupta, Ruchi Fozdar. 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.