JM ELSS - Tax Saver Fund vs NJ ELSS Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM ELSS - Tax Saver Fund and NJ ELSS Tax Saver Fund are both ELSS funds. In the 3 years to 30-10-2026, JM ELSS - Tax Saver Fund (Direct) returned 15.6% a year and NJ ELSS Tax Saver Fund (Direct) returned 8.2% a year. JM ELSS - Tax Saver Fund charges 1.34% a year and NJ ELSS Tax Saver Fund 0.77% (Direct plans). Their portfolios overlap 1.6%: they hold 1 of the same security.
JM ELSS - Tax Saver Fund
ELSS
- 3 year return
- 15.6%
- Expense ratio
- 1.34%
- NAV
- ₹57.26
Which is better, JM ELSS - Tax Saver or NJ 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 3 years: 15.6% a year against 8.2%.
- JM ELSS - Tax Saver returned more over 1 year: −1.3% against −7.1%.
- NJ ELSS Tax Saver costs less: 0.77% a year against 1.34% (Direct plans).
- NJ ELSS Tax Saver swung less over 3 years: a standard deviation of 14.1% a year against 16.1%.
- JM ELSS - Tax Saver fell less in its worst fall since 19-06-2023: −20.9% against −22.8%.
- Their portfolios overlap 1.6%: 1 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 ELSS - Tax Saver Fund | NJ ELSS Tax Saver Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | NJ Mutual Fund |
| Category | ELSS | ELSS |
| AUM | ₹240 Cr (30-09-2026) | Not available |
| NAV | ₹57.26 (Direct) | ₹13.83 (Direct) |
| Expense ratio (Direct) | 1.34% | 0.77% |
| Expense ratio (Regular) | 2.68% | 2.54% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty 500 TRI |
| Launch date | 31-03-2008 | 16-06-2023 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | 3 years | 3 years |
| Fund managers | Deepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi Fozdar | Dhaval Patel, Viral Shah, Jaimin Ilavia |
| Exit load | Nil | Nil |
JM ELSS - Tax Saver vs NJ 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 ELSS - Tax Saver Fund (Direct) | −3.36% | −4.03% | +5.11% | −1.27% | +15.60% | +12.32% | +15.40% |
| NJ ELSS Tax Saver Fund (Direct) | −3.29% | −7.80% | −2.95% | −7.06% | +8.23% | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | -- | -- |
Category average: the average of the 50 ELSS funds, same plan type.
JM ELSS - Tax Saver vs NJ ELSS Tax Saver: Year-wise Returns
| Year | JM ELSS -JM ELSS - Tax Saver | NJ ELSSNJ ELSS Tax Saver |
|---|---|---|
| 2026to date | −0.54% | −5.92% |
| 2025 | +3.83% | −2.78% |
| 2024 | +30.64% | +15.86% |
| 2023 | +32.19% | -- |
| 2022 | +1.47% | -- |
| 2021 | +33.15% | -- |
JM ELSS - Tax Saver vs NJ 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, 90 of them, one for each trading day from 19-06-2026 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 ELSS - Tax Saver Fund (Direct)
NJ ELSS Tax Saver Fund (Direct)
BSE 500 TRI
to
Jun 2026Jul 2023
to
Jul 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JM ELSS - Tax Saver | 0.0 | 0.0 | 0.0 | 5.6 | 94.4 | 0.0 | 0.0 | 16.8% | 16.9% | 14.2% | 18.5% | 100% |
| NJ ELSS Tax Saver | 0.0 | 0.0 | 39.6 | 60.4 | 0.0 | 0.0 | 0.0 | 11.0% | 11.9% | 7.6% | 13.9% | 33% |
| BSE 500 TRI | 0.0 | 0.0 | 26.7 | 73.3 | 0.0 | 0.0 | 0.0 | 11.3% | 11.8% | 8.4% | 13.7% | -- |
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 19-06-2023. Past returns do not promise future returns.
JM ELSS - Tax Saver vs NJ 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 01-06-2023 to 30-10-2026: 41 instalments, ₹4,10,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM ELSS - Tax SaverJM ELSS - Tax Saver Fund (Direct) | ₹4,10,000 | ₹4,71,735 | ₹61,735 | 8.2% |
| NJ ELSS Tax SaverNJ ELSS Tax Saver Fund (Direct) | ₹4,10,000 | ₹4,14,559 | ₹4,559 | 0.6% |
JM ELSS - Tax SaverJM ELSS - Tax Saver Fund (Direct)
NJ ELSS Tax SaverNJ 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 ELSS - Tax Saver vs NJ ELSS Tax Saver: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | JM ELSS - Tax Saver Fund (Direct) | NJ ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.27% | −7.06% |
| Standard deviation | 15.50% | 12.80% |
| Sharpe ratio | -0.42 | -0.96 |
| Sortino ratio | -0.56 | -1.25 |
| Maximum drawdown | −16.9% (23-03-2026) | −12.4% (23-03-2026) |
| Beta | 1.04 | 0.81 |
| Alpha | +6.93% | −2.16% |
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 ELSS - Tax Saver Fund (Direct) | NJ ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.60% | +8.23% |
| Standard deviation | 16.06% | 14.09% |
| Sharpe ratio | 0.60 | 0.16 |
| Sortino ratio | 0.80 | 0.21 |
| Maximum drawdown | −20.9% (07-04-2025) | −22.8% (04-03-2025) |
| Beta | 1.08 | 0.87 |
| Alpha | +5.41% | −1.45% |
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 ELSS - Tax Saver Fund (Direct) | NJ ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.16% | +10.05% |
| Standard deviation | 16.95% | 13.65% |
| Sharpe ratio | 0.60 | 0.29 |
| Sortino ratio | 0.81 | 0.39 |
| Maximum drawdown | −37.4% (23-03-2020) | −22.8% (04-03-2025) |
| Beta | 1.02 | 0.87 |
| Alpha | +3.19% | +0.10% |
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.
JM ELSS - Tax Saver Fund (Direct)
NJ 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 ELSS - Tax Saver Fund (Direct) | −20.9% | 24-09-2024 | 07-04-2025 | 31-07-2026 | 16 months | −7.2% |
| NJ ELSS Tax Saver Fund (Direct) | −22.8% | 26-09-2024 | 04-03-2025 | Not yet | -- | −16.8% |
| BSE 500 TRI | −18.7% | 26-09-2024 | 28-02-2025 | Not yet | -- | −9.4% |
From daily values since 19-06-2023, 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 ELSS - Tax Saver Fund (Direct)
NJ 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 ELSS - Tax Saver Fund (Direct)
NJ ELSS Tax Saver Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| JM ELSS - Tax Saver Fund (Direct) | 113% | 90% | 5.76% |
| NJ ELSS Tax Saver Fund (Direct) | 94% | 89% | 6.25% |
From month-end values since 19-06-2023. 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 ELSS - Tax Saver vs NJ ELSS Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: JM ELSS - Tax Saver Fund, September 2026; NJ ELSS Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 1.6%
- Held by both
- 1
- Only in JM ELSS - Tax Saver
- 52
- Only in NJ ELSS Tax Saver
- 24
| Security | % of JM ELSS - Tax Saver | % of NJ ELSS Tax Saver |
|---|---|---|
| Bosch Limited | 1.57% | 6.55% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 1.6% means 1.6% 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 ELSS - Tax Saver Fund
| Security | % of fund |
|---|---|
| SYRMA SGS TECHNOLOGY LIMITED | 3.41% |
| One 97 Communications Limited | 3.31% |
| HDFC Bank Limited | 2.90% |
| Karur Vysya Bank Limited | 2.69% |
| ICICI Bank Limited | 2.67% |
Largest holdings only in NJ ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| Pidilite Industries Limited | 5.33% |
| JSW Dulux Limited | 5.22% |
| Hero MotoCorp Limited | 5.14% |
| Marico Limited | 5.08% |
| The Great Eastern Shipping Company Limited | 4.95% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM ELSS - Tax Saver | NJ ELSS Tax Saver |
|---|---|---|
| Equity | 98.9% | 99.6% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.1% | 0.4% |
Market cap of stocks
| Market cap | JM ELSS - Tax Saver | NJ ELSS Tax Saver |
|---|---|---|
| Large Cap | 35.1% | 25.8% |
| Mid Cap | 18.2% | 37.7% |
| Small Cap | 45.5% | 36.1% |
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 ELSS - Tax Saver | NJ ELSS Tax Saver |
|---|---|---|
| Pharmaceuticals & Biotechnology | 3.1% | 14.7% |
| Finance | 10.1% | 12.5% |
| Banks | 12.4% | 4.8% |
| Healthcare Services | 3.6% | 7.6% |
| Auto Components | 3.5% | 6.5% |
| Retailing | 6.4% | 0.0% |
| Chemicals & Petrochemicals | 1.6% | 5.3% |
| Capital Markets | 1.6% | 5.3% |
| Automobiles | 4.7% | 5.1% |
| Industrial Manufacturing | 5.0% | 0.0% |
| Commercial Services & Supplies | 4.9% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
JM ELSS - Tax Saver vs NJ ELSS Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM ELSS - Tax Saver Fund | NJ ELSS Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.34% | 0.77% |
| Base expense ratio (Direct) | 0.93% | 0.59% |
| Total expense ratio (Regular) | 2.68% | 2.54% |
| Base expense ratio (Regular) | 2.10% | 2.09% |
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 ELSS - Tax Saver with
JM ELSS - Tax Saver Fund vs NJ ELSS Tax Saver Fund: Frequently Asked Questions
What is the difference between JM ELSS - Tax Saver Fund and NJ ELSS Tax Saver Fund?
Both are ELSS funds, run by JM Financial Mutual Fund and NJ Mutual Fund. Their portfolios overlap 1.6%. JM ELSS - Tax Saver Fund charges 1.34% a year and NJ ELSS Tax Saver Fund 0.77%.
Which has given higher returns, JM ELSS - Tax Saver Fund or NJ ELSS Tax Saver Fund?
Over 1 year: JM ELSS - Tax Saver Fund −1.27%, NJ ELSS Tax Saver Fund −7.06%. Over 3 years: JM ELSS - Tax Saver Fund +15.60% a year, NJ ELSS Tax Saver Fund +8.23% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, JM ELSS - Tax Saver Fund or NJ ELSS Tax Saver Fund?
NJ ELSS Tax Saver Fund charges less: 0.77% a year against 1.34%. These are the Direct plans' total expense ratios reported to AMFI.
How much do JM ELSS - Tax Saver Fund and NJ ELSS Tax Saver Fund overlap?
1.6%. They hold 1 of the same securities, the largest shared ones being BOSCHLTD. From each fund's latest monthly portfolio.
Which is riskier, JM ELSS - Tax Saver Fund or NJ ELSS Tax Saver Fund?
On SEBI's riskometer, JM ELSS - Tax Saver Fund is rated Very High and NJ ELSS Tax Saver Fund Very High. Over 3 years, the standard deviation of daily returns was 16.06% and 14.09% a year.
Which is better for SIP, JM ELSS - Tax Saver Fund or NJ ELSS Tax Saver Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹4,08,742 in JM ELSS - Tax Saver Fund (XIRR 6.4% a year) and ₹3,61,442 in NJ ELSS Tax Saver Fund (XIRR -1.5% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both JM ELSS - Tax Saver Fund and NJ ELSS Tax Saver Fund?
Yes. 1.6% of each fund's money sits in the same holdings, so the two hold mostly different investments.
Who manages JM ELSS - Tax Saver Fund and NJ ELSS Tax Saver Fund?
JM ELSS - Tax Saver Fund: Deepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi Fozdar. NJ ELSS Tax Saver Fund: Dhaval Patel, Viral Shah, Jaimin Ilavia.
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.