JM ELSS - Tax Saver Fund vs Shriram ELSS Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
JM ELSS - Tax Saver Fund and Shriram 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 Shriram ELSS Tax Saver Fund (Direct) returned 6.9% a year. JM ELSS - Tax Saver Fund charges 1.34% a year and Shriram ELSS Tax Saver Fund 0.95% (Direct plans). Their portfolios overlap 25.2%: they hold 16 of the same securities.
JM ELSS - Tax Saver Fund
ELSS
- 3 year return
- 15.6%
- Expense ratio
- 1.34%
- NAV
- ₹57.26
Shriram ELSS Tax Saver Fund
ELSS
- 3 year return
- 6.9%
- Expense ratio
- 0.95%
- NAV
- ₹22.48
Which is better, JM ELSS - Tax Saver or Shriram 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 6.1%.
- JM ELSS - Tax Saver returned more over 3 years: 15.6% a year against 6.9%.
- Shriram ELSS Tax Saver costs less: 0.95% a year against 1.34% (Direct plans).
- Shriram ELSS Tax Saver swung less over 3 years: a standard deviation of 15.4% a year against 16.1%.
- Shriram ELSS Tax Saver fell less in its worst fall since 01-02-2019: −29.8% against −37.4%.
- Shriram ELSS Tax Saver holds more in large companies: 61.9% of the fund in large caps against 35.1%.
- JM ELSS - Tax Saver is the larger fund: ₹240 Cr against ₹44 Cr.
- Their portfolios overlap 25.2%: 16 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 | Shriram ELSS Tax Saver Fund |
|---|---|---|
| Fund house | JM Financial Mutual Fund | Shriram Mutual Fund |
| Category | ELSS | ELSS |
| AUM | ₹240 Cr (30-09-2026) | ₹44 Cr (30-09-2026) |
| NAV | ₹57.26 (Direct) | ₹22.48 (Direct) |
| Expense ratio (Direct) | 1.34% | 0.95% |
| Expense ratio (Regular) | 2.68% | 2.57% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | Nifty 500 TRI |
| Launch date | 31-03-2008 | 25-01-2019 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | 3 years | 3 years |
| Fund managers | Deepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi Fozdar | Hitesh Savanth, Prateek Nigudkar |
| Exit load | Nil | NIL |
JM ELSS - Tax Saver vs Shriram 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% |
| Shriram ELSS Tax Saver Fund (Direct) | −0.33% | −6.48% | −1.70% | −7.49% | +6.94% | +6.10% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | -- |
Category average: the average of the 50 ELSS funds, same plan type.
JM ELSS - Tax Saver vs Shriram ELSS Tax Saver: Year-wise Returns
| Year | JM ELSS -JM ELSS - Tax Saver | Shriram ELSSShriram ELSS Tax Saver |
|---|---|---|
| 2026to date | −0.54% | −7.74% |
| 2025 | +3.83% | −4.18% |
| 2024 | +30.64% | +18.73% |
| 2023 | +32.19% | +26.68% |
| 2022 | +1.47% | +3.96% |
| 2021 | +33.15% | +20.99% |
JM ELSS - Tax Saver vs Shriram 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, 1,168 of them, one for each trading day from 01-02-2022 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.
JM ELSS - Tax Saver Fund (Direct)
Shriram ELSS Tax Saver Fund (Direct)
BSE 500 TRI
to
Jun 2022Apr 2020
to
Apr 2023Jan 2021
to
Jan 2024Nov 2021
to
Nov 2024Sept 2022
to
Sept 2025Jun 2023
to
Jun 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 | 3.3 | 39.6 | 39.4 | 17.8 | 21.0% | 20.7% | 12.4% | 33.2% | 86% |
| Shriram ELSS Tax Saver | 0.0 | 0.0 | 8.6 | 41.5 | 42.8 | 7.1 | 0.0 | 14.8% | 15.0% | 5.6% | 24.3% | 6% |
| BSE 500 TRI | 0.0 | 0.0 | 2.1 | 20.8 | 50.5 | 19.1 | 7.5 | 17.9% | 17.5% | 8.4% | 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 01-02-2019. Past returns do not promise future returns.
JM ELSS - Tax Saver vs Shriram 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 01-02-2019 to 30-10-2026: 93 instalments, ₹9,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| JM ELSS - Tax SaverJM ELSS - Tax Saver Fund (Direct) | ₹9,30,000 | ₹17,61,500 | ₹8,31,500 | 16.1% |
| Shriram ELSS Tax SaverShriram ELSS Tax Saver Fund (Direct) | ₹9,30,000 | ₹13,10,326 | ₹3,80,326 | 8.7% |
JM ELSS - Tax SaverJM ELSS - Tax Saver Fund (Direct)
Shriram ELSS Tax SaverShriram 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 Shriram 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) | Shriram ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | −1.27% | −7.49% |
| Standard deviation | 15.50% | 13.51% |
| Sharpe ratio | -0.42 | -0.94 |
| Sortino ratio | -0.56 | -1.26 |
| Maximum drawdown | −16.9% (23-03-2026) | −14.5% (31-03-2026) |
| Beta | 1.04 | 0.93 |
| Alpha | +6.93% | −1.08% |
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) | Shriram ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +15.60% | +6.94% |
| Standard deviation | 16.06% | 15.39% |
| Sharpe ratio | 0.60 | 0.06 |
| Sortino ratio | 0.80 | 0.08 |
| Maximum drawdown | −20.9% (07-04-2025) | −23.5% (28-02-2025) |
| Beta | 1.08 | 1.02 |
| Alpha | +5.41% | −3.35% |
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) | Shriram ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.32% | +6.10% |
| Standard deviation | 15.58% | 14.86% |
| Sharpe ratio | 0.42 | 0.02 |
| Sortino ratio | 0.56 | 0.03 |
| Maximum drawdown | −20.9% (07-04-2025) | −23.5% (28-02-2025) |
| Beta | 1.04 | 0.99 |
| Alpha | +3.55% | −2.68% |
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 ELSS - Tax Saver Fund (Direct) | Shriram ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.16% | +11.01% |
| Standard deviation | 16.95% | 15.95% |
| Sharpe ratio | 0.60 | 0.36 |
| Sortino ratio | 0.81 | 0.48 |
| Maximum drawdown | −37.4% (23-03-2020) | −29.8% (23-03-2020) |
| Beta | 1.02 | 0.90 |
| Alpha | +3.19% | −1.45% |
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)
Shriram 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) | −37.4% | 19-02-2020 | 23-03-2020 | 10-11-2020 | 8 months | −7.2% |
| Shriram ELSS Tax Saver Fund (Direct) | −29.8% | 12-02-2020 | 23-03-2020 | 26-08-2020 | 5 months | −16.9% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 01-02-2019, 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.
JM ELSS - Tax Saver Fund (Direct)
Shriram 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)
Shriram 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 ELSS - Tax Saver Fund (Direct)
Shriram 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) | 106% | 91% | 5.81% |
| Shriram ELSS Tax Saver Fund (Direct) | 87% | 90% | 6.00% |
From month-end values since 01-02-2019. 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.
JM ELSS - Tax Saver vs Shriram ELSS Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: JM ELSS - Tax Saver Fund, September 2026; Shriram ELSS Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 25.2%
- Held by both
- 16
- Only in JM ELSS - Tax Saver
- 37
- Only in Shriram ELSS Tax Saver
- 55
| Security | % of JM ELSS - Tax Saver | % of Shriram ELSS Tax Saver |
|---|---|---|
| HDFC Bank Limited | 2.90% | 7.47% |
| ICICI Bank Limited | 2.67% | 5.02% |
| Reliance Industries Limited | 2.64% | 3.90% |
| Bharti Airtel Limited | 2.41% | 3.79% |
| State Bank of India | 2.01% | 4.02% |
| Eternal Limited | 2.08% | 1.85% |
| Mahindra & Mahindra Limited | 1.63% | 2.03% |
| Larsen & Toubro Limited | 1.75% | 1.46% |
| Navin Fluorine International Limited | 1.65% | 1.40% |
| Sagility Limited | 1.45% | 1.30% |
| Maruti Suzuki India Limited | 1.42% | 1.29% |
| Karur Vysya Bank Limited | 2.69% | 1.28% |
| Tech Mahindra Limited | 1.71% | 0.99% |
| PERSISTENT SYSTEMS LTD | 1.54% | 0.50% |
| Max Financial Services Limited | 1.51% | 0.42% |
| CarTrade Tech Limited | 2.30% | 0.39% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 25.2% means 25.2% 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% |
| EPL Limited | 2.19% |
| Kotak Mahindra Bank Limited | 2.11% |
| United Spirits Limited | 2.09% |
Largest holdings only in Shriram ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| Axis Bank Ltd. | 4.06% |
| KFIN Technologies Ltd. | 2.00% |
| Samhi Hotels Ltd. | 1.96% |
| Kirloskar Oil Engines Ltd. | 1.92% |
| NTPC Ltd. | 1.91% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | JM ELSS - Tax Saver | Shriram ELSS Tax Saver |
|---|---|---|
| Equity | 98.9% | 95.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 1.1% | 5.0% |
Market cap of stocks
| Market cap | JM ELSS - Tax Saver | Shriram ELSS Tax Saver |
|---|---|---|
| Large Cap | 35.1% | 61.9% |
| Mid Cap | 18.2% | 9.1% |
| Small Cap | 45.5% | 24.1% |
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 | Shriram ELSS Tax Saver |
|---|---|---|
| Banks | 12.4% | 21.9% |
| Finance | 10.1% | 2.3% |
| IT - Software | 3.3% | 6.5% |
| Retailing | 6.4% | 2.9% |
| Automobiles | 4.7% | 5.5% |
| Industrial Manufacturing | 5.0% | 0.0% |
| Commercial Services & Supplies | 4.9% | 0.0% |
| Healthcare Services | 3.6% | 4.4% |
| Petroleum Products | 2.6% | 4.3% |
| Pharmaceuticals & Biotechnology | 3.1% | 4.0% |
The six largest sectors of each fund's stocks, % of the fund.
JM ELSS - Tax Saver vs Shriram ELSS Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | JM ELSS - Tax Saver Fund | Shriram ELSS Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.34% | 0.95% |
| Base expense ratio (Direct) | 0.93% | 0.66% |
| Total expense ratio (Regular) | 2.68% | 2.57% |
| 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 Shriram ELSS Tax Saver Fund: Frequently Asked Questions
What is the difference between JM ELSS - Tax Saver Fund and Shriram ELSS Tax Saver Fund?
Both are ELSS funds, run by JM Financial Mutual Fund and Shriram Mutual Fund. Their portfolios overlap 25.2%. JM ELSS - Tax Saver Fund charges 1.34% a year and Shriram ELSS Tax Saver Fund 0.95%.
Which has given higher returns, JM ELSS - Tax Saver Fund or Shriram ELSS Tax Saver Fund?
Over 1 year: JM ELSS - Tax Saver Fund −1.27%, Shriram ELSS Tax Saver Fund −7.49%. Over 3 years: JM ELSS - Tax Saver Fund +15.60% a year, Shriram ELSS Tax Saver Fund +6.94% a year. Over 5 years: JM ELSS - Tax Saver Fund +12.32% a year, Shriram ELSS Tax Saver Fund +6.10% 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 Shriram ELSS Tax Saver Fund?
Shriram ELSS Tax Saver Fund charges less: 0.95% 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 Shriram ELSS Tax Saver Fund overlap?
25.2%. They hold 16 of the same securities, the largest shared ones being HDFCBANK, ICICIBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, JM ELSS - Tax Saver Fund or Shriram ELSS Tax Saver Fund?
On SEBI's riskometer, JM ELSS - Tax Saver Fund is rated Very High and Shriram ELSS Tax Saver Fund Very High. Over 3 years, the standard deviation of daily returns was 16.06% and 15.39% a year.
Which is better for SIP, JM ELSS - Tax Saver Fund or Shriram 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 ₹8,40,555 in JM ELSS - Tax Saver Fund (XIRR 12.6% a year) and ₹6,84,154 in Shriram ELSS Tax Saver Fund (XIRR 4.5% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both JM ELSS - Tax Saver Fund and Shriram ELSS Tax Saver Fund?
Yes. 25.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages JM ELSS - Tax Saver Fund and Shriram ELSS Tax Saver Fund?
JM ELSS - Tax Saver Fund: Deepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi Fozdar. Shriram ELSS Tax Saver Fund: Hitesh Savanth, Prateek Nigudkar.
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.