Skip to content

Launch offerPay once, own it forever. Lifetime plans from ₹4,999, capped at the first 200 members.See lifetime plans →

Popular

    JM ELSS - Tax Saver Fund vs Union ELSS Tax Saver Fund Fund

    Direct Plan, Growth option · Data as on 30-10-2026

    JM ELSS - Tax Saver Fund and Union ELSS Tax Saver Fund 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 Union ELSS Tax Saver Fund Fund (Direct) returned 9.6% a year. JM ELSS - Tax Saver Fund charges 1.34% a year and Union ELSS Tax Saver Fund Fund 1.71% (Direct plans). Their portfolios overlap 29.8%: they hold 20 of the same securities.

    JM ELSS - Tax Saver Fund

    ELSS

    3 year return
    15.6%
    Expense ratio
    1.34%
    NAV
    ₹57.26
    See JM ELSS - Tax Saver Fund

    Union ELSS Tax Saver Fund Fund

    ELSS

    3 year return
    9.6%
    Expense ratio
    1.71%
    NAV
    ₹68.15
    See Union ELSS Tax Saver Fund Fund

    Which is better, JM ELSS - Tax Saver or Union ELSS Tax Saver Fund? 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 8.9%.
    • JM ELSS - Tax Saver returned more over 3 years: 15.6% a year against 9.6%.
    • JM ELSS - Tax Saver costs less: 1.34% a year against 1.71% (Direct plans).
    • Union ELSS Tax Saver Fund swung less over 3 years: a standard deviation of 14.1% a year against 16.1%.
    • Union ELSS Tax Saver Fund fell less in its worst fall since 02-01-2013: −35.4% against −37.4%.
    • Union ELSS Tax Saver Fund holds more in large companies: 54.5% of the fund in large caps against 35.1%.
    • Union ELSS Tax Saver Fund is the larger fund: ₹821 Cr against ₹240 Cr.
    • Their portfolios overlap 29.8%: 20 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

    FactJM ELSS - Tax Saver FundUnion ELSS Tax Saver Fund Fund
    Fund houseJM Financial Mutual FundUnion Mutual Fund
    CategoryELSSELSS
    AUM₹240 Cr (30-09-2026)₹821 Cr (30-09-2026)
    NAV₹57.26 (Direct)₹68.15 (Direct)
    Expense ratio (Direct)1.34%1.71%
    Expense ratio (Regular)2.68%2.55%
    RiskometerVery HighVery High
    BenchmarkBSE 500 TRIBSE 500 TRI
    Launch date31-03-200823-12-2011
    Minimum investment₹500₹500
    Lock in3 years3 years
    Fund managersDeepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi FozdarVinod Malviya, Sanjay Bembalkar
    Exit loadNilNil

    JM ELSS - Tax Saver vs Union ELSS Tax Saver Fund: Returns Comparison

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Fund1M3M6M1Y3Y5Y10Y
    JM ELSS - Tax Saver Fund (Direct)−3.36%−4.03%+5.11%−1.27%+15.60%+12.32%+15.40%
    Union ELSS Tax Saver Fund Fund (Direct)−1.94%−4.87%−0.94%−6.57%+9.64%+8.90%+12.34%
    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.

    JM ELSS - Tax Saver vs Union ELSS Tax Saver Fund: Year-wise Returns

    YearJM ELSS - Tax SaverJM ELSS - Tax SaverUnion ELSS Tax Saver FundUnion ELSS Tax Saver FundBSE 500 TRI
    2026to date−0.54%−5.75%−7.81%
    2025+3.83%+5.29%+7.63%
    2024+30.64%+17.95%+15.81%
    2023+32.19%+27.50%+26.55%
    2022+1.47%+2.42%+4.77%
    2021+33.15%+36.65%+31.63%

    JM ELSS - Tax Saver vs Union ELSS Tax Saver Fund: Rolling Returns

    Every holding period of both funds, against BSE 500 TRI, the benchmark of both

    Rolling returns

    Every 3-year holding period, 2,667 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.

    −10%0%10%20%30%40%
    Nov 2013
    to
    Nov 2016    Sept 2015
    to
    Sept 2018    Jul 2017
    to
    Jul 2020    May 2019
    to
    May 2022    Mar 2021
    to
    Mar 2024    Dec 2022
    to
    Dec 2025
    JM ELSS - Tax Saver Fund (Direct)Union ELSS Tax Saver Fund Fund (Direct)BSE 500 TRI

    How the periods spread

    FundBelow 0%0-5%5-10%10-15%15-20%20-25%Above 25%MeanMedianLowestHighestBeat benchmark
    JM ELSS - Tax Saver1.34.62.316.737.325.512.217.9%17.9%−3.5%33.2%91%
    Union ELSS Tax Saver Fund1.87.522.223.524.615.64.913.9%13.9%−6.0%34.2%53%
    BSE 500 TRI1.84.27.936.834.211.73.314.8%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.

    JM ELSS - Tax Saver vs Union ELSS Tax Saver Fund: 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

    Step up each year
    PeriodFor

    ₹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.

    InvestmentInvestedValue nowGainReturn a year
    JM ELSS - Tax SaverJM ELSS - Tax Saver Fund (Direct) ₹16,60,000 ₹55,77,578 ₹39,17,578 16.1%
    Union ELSS Tax Saver FundUnion ELSS Tax Saver Fund Fund (Direct) ₹16,60,000 ₹41,90,854 ₹25,30,854 12.5%
    ₹0₹20.0 L₹40.0 L₹60.0 L
    2014201620182020202220242026
    JM ELSS - Tax SaverJM ELSS - Tax Saver Fund (Direct)Union ELSS Tax Saver FundUnion ELSS Tax Saver Fund 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 Union ELSS Tax Saver Fund: Risk and Drawdowns

    How much each fund swings, and the worst fall over the same days

    Risk and return

    MeasureJM ELSS - Tax Saver Fund (Direct)Union ELSS Tax Saver Fund Fund (Direct)
    Return (CAGR)+15.60%+9.64%
    Standard deviation16.06%14.09%
    Sharpe ratio0.600.26
    Sortino ratio0.800.34
    Maximum drawdown−20.9% (07-04-2025)−18.3% (28-02-2025)
    Beta1.080.97
    Alpha+5.41%−0.15%

    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.

    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.

    −40%−30%−20%−10%0%
    2014201620182020202220242026
    JM ELSS - Tax Saver Fund (Direct)Union ELSS Tax Saver Fund Fund (Direct)BSE 500 TRI
    FundWorst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    JM ELSS - Tax Saver Fund (Direct)−37.4%19-02-202023-03-202010-11-20208 months−7.2%
    Union ELSS Tax Saver Fund Fund (Direct)−35.4%19-02-202023-03-202016-09-20206 months−7.3%
    BSE 500 TRI−38.1%17-01-202023-03-202006-11-20207 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 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.

    0%5%10%15%20%25%
    20172019202120232025
    JM ELSS - Tax Saver Fund (Direct)Union ELSS Tax Saver Fund Fund (Direct)BSE 500 TRI

    Against BSE 500 TRI

    FundUp captureDown captureTracking error
    JM ELSS - Tax Saver Fund (Direct)109%93%5.72%
    Union ELSS Tax Saver Fund Fund (Direct)92%89%3.61%

    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.

    JM ELSS - Tax Saver vs Union ELSS Tax Saver Fund: Portfolio Overlap

    From each fund's latest monthly portfolio: JM ELSS - Tax Saver Fund, September 2026; Union ELSS Tax Saver Fund Fund, September 2026

    Holdings in common

    Overlap
    29.8%
    Held by both
    20
    Only in JM ELSS - Tax Saver
    33
    Only in Union ELSS Tax Saver Fund
    63
    Security% of JM ELSS - Tax Saver% of Union ELSS Tax Saver Fund
    HDFC Bank Limited2.90%4.92%
    ICICI Bank Limited2.67%7.17%
    Reliance Industries Limited2.64%2.46%
    Bharti Airtel Limited2.41%3.08%
    Eternal Limited2.08%2.05%
    One 97 Communications Limited3.31%1.97%
    State Bank of India2.01%1.85%
    Jindal Steel Limited1.89%1.81%
    Larsen & Toubro Limited1.75%2.10%
    Shriram Finance Limited1.70%1.80%

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 29.8% means 29.8% 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 JM ELSS - Tax Saver Fund

    Security% of fund
    SYRMA SGS TECHNOLOGY LIMITED3.41%
    Karur Vysya Bank Limited2.69%
    EPL Limited2.19%
    United Spirits Limited2.09%
    Sanathan Textiles Ltd.2.04%

    Largest holdings only in Union ELSS Tax Saver Fund Fund

    Security% of fund
    Axis Bank Ltd.3.18%
    JSW Infrastructure Ltd.2.08%
    Gabriel India Ltd.1.98%
    Solar Industries India Ltd.1.79%
    CG Power and Industrial Solutions Ltd.1.78%

    Asset and sector split

    Share of each fund, from its latest monthly portfolio

    Asset allocation

    AssetJM ELSS - Tax SaverUnion ELSS Tax Saver Fund
    Equity98.9%98.9%
    Debt0.0%0.1%
    Cash and others1.1%1.0%

    Market cap of stocks

    Market capJM ELSS - Tax SaverUnion ELSS Tax Saver Fund
    Large Cap35.1%54.5%
    Mid Cap18.2%22.4%
    Small Cap45.5%21.5%
    Not on AMFI's list0.0%0.5%

    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

    SectorJM ELSS - Tax SaverUnion ELSS Tax Saver Fund
    Banks12.4%21.8%
    Finance10.1%3.3%
    Auto Components3.5%6.6%
    Pharmaceuticals & Biotechnology3.1%6.4%
    Retailing6.4%3.1%
    Chemicals & Petrochemicals1.6%5.0%
    Industrial Manufacturing5.0%0.0%
    IT - Software3.3%5.0%
    Commercial Services & Supplies4.9%0.0%
    Automobiles4.7%2.2%
    Electrical Equipment1.7%4.4%

    The six largest sectors of each fund's stocks, % of the fund.

    JM ELSS - Tax Saver vs Union ELSS Tax Saver Fund: Expense Ratio

    What each plan charges a year, from AMFI's expense ratio file

    ChargeJM ELSS - Tax Saver FundUnion ELSS Tax Saver Fund Fund
    Total expense ratio (Direct)1.34%1.71%
    Base expense ratio (Direct)0.93%1.23%
    Total expense ratio (Regular)2.68%2.55%
    Base expense ratio (Regular)2.10%2.00%

    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

    JM ELSS - Tax Saver Fund vs Union ELSS Tax Saver Fund Fund: Frequently Asked Questions

    What is the difference between JM ELSS - Tax Saver Fund and Union ELSS Tax Saver Fund Fund?

    Both are ELSS funds, run by JM Financial Mutual Fund and Union Mutual Fund. Their portfolios overlap 29.8%. JM ELSS - Tax Saver Fund charges 1.34% a year and Union ELSS Tax Saver Fund Fund 1.71%.

    Which has given higher returns, JM ELSS - Tax Saver Fund or Union ELSS Tax Saver Fund Fund?

    Over 1 year: JM ELSS - Tax Saver Fund −1.27%, Union ELSS Tax Saver Fund Fund −6.57%. Over 3 years: JM ELSS - Tax Saver Fund +15.60% a year, Union ELSS Tax Saver Fund Fund +9.64% a year. Over 5 years: JM ELSS - Tax Saver Fund +12.32% a year, Union ELSS Tax Saver Fund Fund +8.90% 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 Union ELSS Tax Saver Fund Fund?

    JM ELSS - Tax Saver Fund charges less: 1.34% a year against 1.71%. These are the Direct plans' total expense ratios reported to AMFI.

    How much do JM ELSS - Tax Saver Fund and Union ELSS Tax Saver Fund Fund overlap?

    29.8%. They hold 20 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 Union ELSS Tax Saver Fund Fund?

    On SEBI's riskometer, JM ELSS - Tax Saver Fund is rated Very High and Union ELSS Tax Saver Fund 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 Union ELSS Tax Saver Fund 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 ₹7,46,147 in Union ELSS Tax Saver Fund Fund (XIRR 7.9% a year). Both received 61 instalments. Past returns do not promise future returns.

    Can I invest in both JM ELSS - Tax Saver Fund and Union ELSS Tax Saver Fund Fund?

    Yes. 29.8% 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 Union ELSS Tax Saver Fund Fund?

    JM ELSS - Tax Saver Fund: Deepak Gupta, Satish Ramanathan, Asit Bhandarkar, Ruchi Fozdar. Union ELSS Tax Saver Fund Fund: Vinod Malviya, Sanjay Bembalkar.

    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.

    Track both funds in WealthGamma

    Add your funds once. WealthGamma updates their value every day and shows them next to your stocks, gold, deposits and loans.

    PAN not required · No broker linking · No OTPs

    Start freeSee plans