LIC MF ELSS Tax Saver Fund vs LIC MF Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
LIC MF ELSS Tax Saver Fund is an ELSS fund and LIC MF Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, LIC MF ELSS Tax Saver Fund (Direct) returned 9.0% a year and LIC MF Value Fund (Direct) returned 16.1% a year. LIC MF ELSS Tax Saver Fund charges 1.32% a year and LIC MF Value Fund 1.78% (Direct plans). Their portfolios overlap 21.6%: they hold 15 of the same securities.
LIC MF ELSS Tax Saver Fund
ELSS
- 3 year return
- 9.0%
- Expense ratio
- 1.32%
- NAV
- ₹161.55
Which is better, LIC MF ELSS Tax Saver or LIC MF Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- LIC MF Value returned more over 3 years: 16.1% a year against 9.0%.
- LIC MF Value returned more over 1 year: 10.9% against −9.4%.
- LIC MF ELSS Tax Saver costs less: 1.32% a year against 1.78% (Direct plans).
- LIC MF ELSS Tax Saver swung less over 3 years: a standard deviation of 13.7% a year against 17.2%.
- LIC MF ELSS Tax Saver fell less in its worst fall since 31-07-2023: −17.4% against −25.2%.
- LIC MF ELSS Tax Saver holds more in large companies: 51.3% of the fund in large caps against 32.8%.
- LIC MF ELSS Tax Saver is the larger fund: ₹972 Cr against ₹336 Cr.
- Their portfolios overlap 21.6%: 15 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 | LIC MF ELSS Tax Saver Fund | LIC MF Value Fund |
|---|---|---|
| Fund house | LIC Mutual Fund | LIC Mutual Fund |
| Category | ELSS | Value and Contra |
| AUM | ₹972 Cr (30-09-2026) | ₹336 Cr (30-09-2026) |
| NAV | ₹161.55 (Direct) | ₹29.46 (Direct) |
| Expense ratio (Direct) | 1.32% | 1.78% |
| Expense ratio (Regular) | 2.48% | 3.22% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 31-03-1997 | 20-08-2018 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | 3 years | None |
| Fund managers | Sumit Bhatnagar, Nikhil Kapoor | Mahesh Bendre |
| Exit load | Nil | Nil, If units of the Scheme are redeemed or switched out up to 12% of the units (the limit) within 12 months from the date of allotment. 1% of the applicable NAV, If units of the scheme are redeemed or switched out in excess of the limit within 12 months from the date of allotment. Nil, If units of scheme are redeemed or switched out after 12 months from the date of allotment. |
LIC MF ELSS Tax Saver vs LIC MF Value: 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 |
|---|---|---|---|---|---|---|---|
| LIC MF ELSS Tax Saver Fund (Direct) | −2.39% | −6.01% | −1.32% | −9.41% | +9.01% | +7.88% | +11.61% |
| LIC MF Value Fund (Direct) | −5.40% | −3.78% | +5.94% | +10.90% | +16.07% | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | -- | -- |
Category average: the average of the 50 ELSS funds and the 30 Value and Contra funds, same plan type.
LIC MF ELSS Tax Saver vs LIC MF Value: Year-wise Returns
| Year | ELSS Tax SaverLIC MF ELSS Tax Saver | ValueLIC MF Value | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −8.72% | +11.43% | −7.51% |
| 2025 | +2.04% | −5.73% | +7.76% |
| 2024 | +24.20% | +30.38% | +16.24% |
| 2023 | +27.57% | -- | +26.91% |
| 2022 | −0.52% | -- | +4.25% |
| 2021 | +27.84% | -- | +31.60% |
LIC MF ELSS Tax Saver vs LIC MF Value: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 61 of them, one for each trading day from 31-07-2026 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.
LIC MF ELSS Tax Saver Fund (Direct)
LIC MF Value Fund (Direct)
Nifty 500 TRI
to
Aug 2026Aug 2023
to
Aug 2026Sept 2023
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LIC MF ELSS Tax Saver | 0.0 | 0.0 | 50.8 | 49.2 | 0.0 | 0.0 | 0.0 | 10.1% | 10.0% | 7.7% | 12.5% | 0% |
| LIC MF Value | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 17.6% | 17.5% | 15.2% | 19.6% | 100% |
| Nifty 500 TRI | 0.0 | 0.0 | 31.1 | 68.9 | 0.0 | 0.0 | 0.0 | 11.1% | 10.8% | 8.8% | 13.5% | -- |
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 31-07-2023. Past returns do not promise future returns.
LIC MF ELSS Tax Saver vs LIC MF Value: 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 03-07-2023 to 30-10-2026: 40 instalments, ₹4,00,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| LIC MF ELSS Tax SaverLIC MF ELSS Tax Saver Fund (Direct) | ₹4,00,000 | ₹4,10,112 | ₹10,112 | 1.5% |
| LIC MF ValueLIC MF Value Fund (Direct) | ₹4,00,000 | ₹4,79,140 | ₹79,140 | 10.9% |
LIC MF ELSS Tax SaverLIC MF ELSS Tax Saver Fund (Direct)
LIC MF ValueLIC MF Value 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.
LIC MF ELSS Tax Saver vs LIC MF Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | LIC MF ELSS Tax Saver Fund (Direct) | LIC MF Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.41% | +10.90% |
| Standard deviation | 14.75% | 16.55% |
| Sharpe ratio | -0.99 | 0.34 |
| Sortino ratio | -1.32 | 0.49 |
| Maximum drawdown | −16.1% (31-03-2026) | −10.9% (31-03-2026) |
| Beta | 0.99 | 1.04 |
| Alpha | −2.17% | +18.74% |
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 | LIC MF ELSS Tax Saver Fund (Direct) | LIC MF Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.01% | +16.07% |
| Standard deviation | 13.69% | 17.18% |
| Sharpe ratio | 0.22 | 0.58 |
| Sortino ratio | 0.30 | 0.79 |
| Maximum drawdown | −17.4% (31-03-2026) | −25.2% (03-03-2025) |
| Beta | 0.92 | 1.09 |
| Alpha | −0.86% | +5.49% |
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 | LIC MF ELSS Tax Saver Fund (Direct) | LIC MF Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.90% | +14.94% |
| Standard deviation | 14.94% | 16.73% |
| Sharpe ratio | 0.46 | 0.53 |
| Sortino ratio | 0.62 | 0.71 |
| Maximum drawdown | −35.7% (23-03-2020) | −25.2% (03-03-2025) |
| Beta | 0.91 | 1.08 |
| Alpha | +0.74% | +5.67% |
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.
LIC MF ELSS Tax Saver Fund (Direct)
LIC MF Value Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| LIC MF ELSS Tax Saver Fund (Direct) | −17.4% | 26-09-2024 | 31-03-2026 | Not yet | -- | −11.0% |
| LIC MF Value Fund (Direct) | −25.2% | 17-12-2024 | 03-03-2025 | 15-06-2026 | 15 months | −7.6% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 31-07-2023, 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.
LIC MF ELSS Tax Saver Fund (Direct)
LIC MF Value 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.
LIC MF ELSS Tax Saver Fund (Direct)
LIC MF Value Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| LIC MF ELSS Tax Saver Fund (Direct) | 92% | 91% | 4.74% |
| LIC MF Value Fund (Direct) | 126% | 103% | 8.72% |
From month-end values since 31-07-2023. 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.
LIC MF ELSS Tax Saver vs LIC MF Value: Portfolio Overlap
From each fund's latest monthly portfolio: LIC MF ELSS Tax Saver Fund, September 2026; LIC MF Value Fund, September 2026
Holdings in common
- Overlap
- 21.6%
- Held by both
- 15
- Only in LIC MF ELSS Tax Saver
- 39
- Only in LIC MF Value
- 35
| Security | % of LIC MF ELSS Tax Saver | % of LIC MF Value |
|---|---|---|
| HDFC Bank Ltd. | 4.94% | 3.51% |
| SML Mahindra Ltd. | 4.01% | 3.06% |
| INDO-MIM Ltd. | 2.61% | 7.68% |
| State Bank of India | 3.16% | 1.87% |
| ICICI Bank Ltd. | 8.21% | 1.67% |
| Bharat Forge Ltd. | 1.47% | 1.62% |
| Schaeffler India Ltd. | 1.46% | 3.32% |
| Axis Bank Ltd. | 4.32% | 1.25% |
| Delhivery Ltd. | 1.18% | 1.33% |
| Neuland Laboratories Ltd. | 1.00% | 1.08% |
| Sun Pharmaceutical Industries Ltd. | 1.29% | 0.84% |
| Torrent Pharmaceuticals Ltd. | 2.07% | 0.63% |
| Mahindra & Mahindra Financial Serv Ltd. | 0.50% | 1.13% |
| Nephrocare Health Services Ltd. | 0.34% | 3.14% |
| NSE India Ltd. | 0.20% | 3.36% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 21.6% means 21.6% 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 LIC MF ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| Cholamandalam Investment & Fin Co Ltd. | 3.51% |
| SRF Ltd. | 2.84% |
| Eternal Ltd. | 2.60% |
| Larsen & Toubro Ltd. | 2.42% |
| Kirloskar Oil Engines Ltd. | 2.17% |
Largest holdings only in LIC MF Value Fund
| Security | % of fund |
|---|---|
| Tata Motors Passenger Vehicles Ltd. | 5.03% |
| Kirloskar Brothers Ltd. | 3.60% |
| Hyundai Motor India Ltd. | 3.12% |
| Saregama India Ltd. | 2.96% |
| Tenneco Clean Air India Ltd. | 2.95% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | LIC MF ELSS Tax Saver | LIC MF Value |
|---|---|---|
| Equity | 97.7% | 97.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 2.3% | 3.0% |
Market cap of stocks
| Market cap | LIC MF ELSS Tax Saver | LIC MF Value |
|---|---|---|
| Large Cap | 51.3% | 32.8% |
| Mid Cap | 16.2% | 10.6% |
| Small Cap | 27.4% | 42.0% |
| Not on AMFI's list | 2.8% | 11.6% |
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 | LIC MF ELSS Tax Saver | LIC MF Value |
|---|---|---|
| Banks | 20.6% | 10.3% |
| Auto Components | 4.5% | 13.4% |
| Pharmaceuticals & Biotechnology | 9.6% | 5.2% |
| Industrial Products | 2.8% | 9.1% |
| Automobiles | 8.2% | 8.2% |
| Industrial Manufacturing | 2.6% | 8.1% |
| Finance | 5.5% | 2.3% |
| Agricultural, Commercial & Construction Vehicles | 4.0% | 5.3% |
| Chemicals & Petrochemicals | 4.8% | 2.6% |
The six largest sectors of each fund's stocks, % of the fund.
LIC MF ELSS Tax Saver vs LIC MF Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | LIC MF ELSS Tax Saver Fund | LIC MF Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.32% | 1.78% |
| Base expense ratio (Direct) | 0.92% | 0.86% |
| Total expense ratio (Regular) | 2.48% | 3.22% |
| Base expense ratio (Regular) | 1.95% | 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 LIC MF ELSS Tax Saver with
LIC MF ELSS Tax Saver Fund vs LIC MF Value Fund: Frequently Asked Questions
What is the difference between LIC MF ELSS Tax Saver Fund and LIC MF Value Fund?
LIC MF ELSS Tax Saver Fund is an ELSS fund, LIC MF Value Fund is a Value and Contra fund, run by LIC Mutual Fund. Their portfolios overlap 21.6%. LIC MF ELSS Tax Saver Fund charges 1.32% a year and LIC MF Value Fund 1.78%.
Which has given higher returns, LIC MF ELSS Tax Saver Fund or LIC MF Value Fund?
Over 1 year: LIC MF ELSS Tax Saver Fund −9.41%, LIC MF Value Fund +10.90%. Over 3 years: LIC MF ELSS Tax Saver Fund +9.01% a year, LIC MF Value Fund +16.07% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, LIC MF ELSS Tax Saver Fund or LIC MF Value Fund?
LIC MF ELSS Tax Saver Fund charges less: 1.32% a year against 1.78%. These are the Direct plans' total expense ratios reported to AMFI.
How much do LIC MF ELSS Tax Saver Fund and LIC MF Value Fund overlap?
21.6%. They hold 15 of the same securities, the largest shared ones being HDFCBANK, SMLMAH, INDOMIM. From each fund's latest monthly portfolio.
Which is riskier, LIC MF ELSS Tax Saver Fund or LIC MF Value Fund?
On SEBI's riskometer, LIC MF ELSS Tax Saver Fund is rated Very High and LIC MF Value Fund Very High. Over 3 years, the standard deviation of daily returns was 13.69% and 17.18% a year.
Which is better for SIP, LIC MF ELSS Tax Saver Fund or LIC MF Value Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,71,316 in LIC MF ELSS Tax Saver Fund (XIRR 0.2% a year) and ₹4,32,296 in LIC MF Value Fund (XIRR 10.1% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both LIC MF ELSS Tax Saver Fund and LIC MF Value Fund?
Yes. 21.6% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages LIC MF ELSS Tax Saver Fund and LIC MF Value Fund?
LIC MF ELSS Tax Saver Fund: Sumit Bhatnagar, Nikhil Kapoor. LIC MF Value Fund: Mahesh Bendre.
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.