NJ ELSS Tax Saver Fund vs Tata BSE Quality Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
NJ ELSS Tax Saver Fund is an ELSS fund and Tata BSE Quality Index Fund is an Index fund. In the year to 30-10-2026, NJ ELSS Tax Saver Fund (Direct) returned −7.1% and Tata BSE Quality Index Fund (Direct) returned −7.3%. NJ ELSS Tax Saver Fund charges 0.77% a year and Tata BSE Quality Index Fund 0.52% (Direct plans). Their portfolios overlap 25.5%: they hold 8 of the same securities.
Tata BSE Quality Index Fund
Index
- 1 year return
- −7.3%
- Expense ratio
- 0.52%
- NAV
- ₹10.42
Which is better, NJ ELSS Tax Saver or Tata BSE Quality Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- NJ ELSS Tax Saver returned more over 1 year: −7.1% against −7.3%.
- Tata BSE Quality Index costs less: 0.52% a year against 0.77% (Direct plans).
- Tata BSE Quality Index fell less in its worst fall since 08-04-2025: −13.8% against −16.9%.
- Tata BSE Quality Index holds more in large companies: 49.2% of the fund in large caps against 25.8%.
- Their portfolios overlap 25.5%: 8 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 | NJ ELSS Tax Saver Fund | Tata BSE Quality Index Fund |
|---|---|---|
| Fund house | NJ Mutual Fund | Tata Mutual Fund |
| Category | ELSS | Index |
| AUM | Not available | ₹46 Cr (30-09-2026) |
| NAV | ₹13.83 (Direct) | ₹10.42 (Direct) |
| Expense ratio (Direct) | 0.77% | 0.52% |
| Expense ratio (Regular) | 2.54% | 1.19% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | BSE Quality TRI |
| Launch date | 16-06-2023 | 03-04-2025 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | 3 years | None |
| Fund managers | Dhaval Patel, Viral Shah, Jaimin Ilavia | Nitin Sharma, Rakesh Prajapati |
| Exit load | Nil | 0.25% of the applicable NAV, if redeemed on or before 15 days from the date of allotment. |
NJ ELSS Tax Saver vs Tata BSE Quality Index: 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 |
|---|---|---|---|---|---|---|---|
| NJ ELSS Tax Saver Fund (Direct) | −3.29% | −7.80% | −2.95% | −7.06% | +8.23% | -- | -- |
| Tata BSE Quality Index Fund (Direct) | −2.69% | −10.03% | −9.74% | −7.35% | -- | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | -- | -- |
Category average: the average of the 50 ELSS funds, same plan type.
NJ ELSS Tax Saver vs Tata BSE Quality Index: Year-wise Returns
| Year | NJ ELSS Tax SaverNJ ELSS Tax Saver | Tata BSE Quality IndexTata BSE Quality Index |
|---|---|---|
| 2026to date | −5.92% | −8.84% |
| 2025 | −2.78% | -- |
| 2024 | +15.86% | -- |
NJ ELSS Tax Saver vs Tata BSE Quality Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of NJ ELSS Tax Saver Fund
Rolling returns
Every 1-year holding period, 140 of them, one for each trading day from 08-04-2026 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.
NJ ELSS Tax Saver Fund (Direct)
Tata BSE Quality Index Fund (Direct)
Nifty 500 TRI
to
Apr 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NJ ELSS Tax Saver | 75.0 | 23.6 | 1.4 | 0.0 | 0.0 | 0.0 | 0.0 | −2.0% | −2.2% | −8.9% | 7.0% | 9% |
| Tata BSE Quality Index | 26.6 | 33.1 | 23.7 | 15.8 | 0.7 | 0.0 | 0.0 | 3.7% | 3.3% | −9.7% | 15.4% | 88% |
| Nifty 500 TRI | 38.6 | 43.6 | 17.1 | 0.7 | 0.0 | 0.0 | 0.0 | 0.9% | 0.9% | −9.0% | 10.8% | -- |
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 08-04-2025. Past returns do not promise future returns.
NJ ELSS Tax Saver vs Tata BSE Quality Index: 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 01-04-2025 to 30-10-2026: 19 instalments, ₹1,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| NJ ELSS Tax SaverNJ ELSS Tax Saver Fund (Direct) | ₹1,90,000 | ₹1,81,362 | −₹8,638 | −5.5% |
| Tata BSE Quality IndexTata BSE Quality Index Fund (Direct) | ₹1,90,000 | ₹1,79,456 | −₹10,544 | −6.7% |
NJ ELSS Tax SaverNJ ELSS Tax Saver Fund (Direct)
Tata BSE Quality IndexTata BSE Quality Index 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.
NJ ELSS Tax Saver vs Tata BSE Quality Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | NJ ELSS Tax Saver Fund (Direct) | Tata BSE Quality Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.06% | −7.35% |
| Standard deviation | 12.80% | 14.31% |
| Sharpe ratio | -0.96 | -0.88 |
| Sortino ratio | -1.25 | -1.17 |
| Maximum drawdown | −12.4% (23-03-2026) | −13.8% (23-10-2026) |
| Beta | 0.81 | 0.98 |
| Alpha | −2.16% | −0.75% |
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 | NJ ELSS Tax Saver Fund (Direct) | Tata BSE Quality Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.05% | +5.41% |
| Standard deviation | 13.65% | 13.91% |
| Sharpe ratio | 0.29 | 0.00 |
| Sortino ratio | 0.39 | 0.00 |
| Maximum drawdown | −22.8% (04-03-2025) | −13.8% (23-10-2026) |
| Beta | 0.87 | 0.99 |
| Alpha | +0.10% | −0.56% |
From daily NAVs, 19-06-2023 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.
NJ ELSS Tax Saver Fund (Direct)
Tata BSE Quality Index Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| NJ ELSS Tax Saver Fund (Direct) | −16.9% | 17-07-2025 | 23-03-2026 | Not yet | -- | −12.1% |
| Tata BSE Quality Index Fund (Direct) | −13.8% | 10-08-2026 | 23-10-2026 | Not yet | -- | −11.9% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 08-04-2025, 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.
NJ ELSS Tax Saver Fund (Direct)
Tata BSE Quality Index Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| NJ ELSS Tax Saver Fund (Direct) | 81% | 92% | 6.14% |
| Tata BSE Quality Index Fund (Direct) | 84% | 87% | 7.00% |
From month-end values since 08-04-2025. 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.
NJ ELSS Tax Saver vs Tata BSE Quality Index: Portfolio Overlap
From each fund's latest monthly portfolio: NJ ELSS Tax Saver Fund, September 2026; Tata BSE Quality Index Fund, September 2026
Holdings in common
- Overlap
- 25.5%
- Held by both
- 8
- Only in NJ ELSS Tax Saver
- 17
- Only in Tata BSE Quality Index
- 22
| Security | % of NJ ELSS Tax Saver | % of Tata BSE Quality Index |
|---|---|---|
| Hero MotoCorp Limited | 5.14% | 5.24% |
| Marico Limited | 5.08% | 4.90% |
| Britannia Industries Limited | 4.22% | 4.94% |
| ABB India Limited | 4.69% | 4.06% |
| HDFC Asset Management Company Limited | 2.89% | 4.93% |
| Page Industries Limited | 4.95% | 2.65% |
| CRISIL Limited | 3.53% | 1.09% |
| Bayer Cropscience Limited | 3.81% | 0.52% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 25.5% means 25.5% 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 NJ ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| Bosch Limited | 6.55% |
| Pidilite Industries Limited | 5.33% |
| JSW Dulux Limited | 5.22% |
| The Great Eastern Shipping Company Limited | 4.95% |
| AU Small Finance Bank Limited | 4.85% |
Largest holdings only in Tata BSE Quality Index Fund
| Security | % of fund |
|---|---|
| ITC LTD | 5.29% |
| MULTI COMMODITY EXCHANGE OF IND LTD | 5.18% |
| HINDUSTAN UNILEVER LTD | 5.07% |
| INFOSYS LTD | 5.04% |
| DIXON TECHNOLOGIES (INDIA) LTD | 4.98% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | NJ ELSS Tax Saver | Tata BSE Quality Index |
|---|---|---|
| Equity | 99.6% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 0.4% | -0.0% |
Market cap of stocks
| Market cap | NJ ELSS Tax Saver | Tata BSE Quality Index |
|---|---|---|
| Large Cap | 25.8% | 49.2% |
| Mid Cap | 37.7% | 47.4% |
| Small Cap | 36.1% | 3.4% |
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 | NJ ELSS Tax Saver | Tata BSE Quality Index |
|---|---|---|
| Pharmaceuticals & Biotechnology | 14.7% | 1.3% |
| Capital Markets | 5.3% | 14.5% |
| IT - Software | 4.7% | 12.8% |
| Finance | 12.5% | 1.1% |
| Electrical Equipment | 4.7% | 12.0% |
| Diversified FMCG | 0.0% | 10.4% |
| Food Products | 4.2% | 9.9% |
| Non - Ferrous Metals | 0.0% | 8.0% |
| Healthcare Services | 7.6% | 0.0% |
| Auto Components | 6.5% | 0.0% |
| Chemicals & Petrochemicals | 5.3% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
NJ ELSS Tax Saver vs Tata BSE Quality Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | NJ ELSS Tax Saver Fund | Tata BSE Quality Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.77% | 0.52% |
| Base expense ratio (Direct) | 0.59% | 0.29% |
| Total expense ratio (Regular) | 2.54% | 1.19% |
| Base expense ratio (Regular) | 2.09% | 0.90% |
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
NJ ELSS Tax Saver Fund vs Tata BSE Quality Index Fund: Frequently Asked Questions
What is the difference between NJ ELSS Tax Saver Fund and Tata BSE Quality Index Fund?
NJ ELSS Tax Saver Fund is an ELSS fund, Tata BSE Quality Index Fund is an Index fund, run by NJ Mutual Fund and Tata Mutual Fund. Their portfolios overlap 25.5%. NJ ELSS Tax Saver Fund charges 0.77% a year and Tata BSE Quality Index Fund 0.52%.
Which has given higher returns, NJ ELSS Tax Saver Fund or Tata BSE Quality Index Fund?
Over 1 year: NJ ELSS Tax Saver Fund −7.06%, Tata BSE Quality Index Fund −7.35%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, NJ ELSS Tax Saver Fund or Tata BSE Quality Index Fund?
Tata BSE Quality Index Fund charges less: 0.52% a year against 0.77%. These are the Direct plans' total expense ratios reported to AMFI.
How much do NJ ELSS Tax Saver Fund and Tata BSE Quality Index Fund overlap?
25.5%. They hold 8 of the same securities, the largest shared ones being HEROMOTOCO, MARICO, BRITANNIA. From each fund's latest monthly portfolio.
Which is riskier, NJ ELSS Tax Saver Fund or Tata BSE Quality Index Fund?
On SEBI's riskometer, NJ ELSS Tax Saver Fund is rated Very High and Tata BSE Quality Index Fund Very High. Over 1 years, the standard deviation of daily returns was 12.80% and 14.31% a year.
Can I invest in both NJ ELSS Tax Saver Fund and Tata BSE Quality Index Fund?
Yes. 25.5% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages NJ ELSS Tax Saver Fund and Tata BSE Quality Index Fund?
NJ ELSS Tax Saver Fund: Dhaval Patel, Viral Shah, Jaimin Ilavia. Tata BSE Quality Index Fund: Nitin Sharma, Rakesh Prajapati.
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.