Parag Parikh Conservative Hybrid Fund vs Parag Parikh ELSS Tax Saver Fund
Direct Plan, Growth option · Data as on 30-10-2026
Parag Parikh Conservative Hybrid Fund is a Conservative Hybrid fund and Parag Parikh ELSS Tax Saver Fund is an ELSS fund. In the 3 years to 30-10-2026, Parag Parikh Conservative Hybrid Fund (Direct) returned 8.7% a year and Parag Parikh ELSS Tax Saver Fund (Direct) returned 8.6% a year. Parag Parikh Conservative Hybrid Fund charges 0.32% a year and Parag Parikh ELSS Tax Saver Fund 0.65% (Direct plans). Their portfolios overlap 12.2%: they hold 10 of the same securities.
Parag Parikh Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 8.7%
- Expense ratio
- 0.32%
- NAV
- ₹15.85
Parag Parikh ELSS Tax Saver Fund
ELSS
- 3 year return
- 8.6%
- Expense ratio
- 0.65%
- NAV
- ₹30.85
Which is better, Parag Parikh Conservative Hybrid or Parag Parikh 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.
- Parag Parikh ELSS Tax Saver returned more over 5 years: 10.3% a year against 8.8%.
- Parag Parikh Conservative Hybrid returned more over 3 years: 8.7% a year against 8.6%.
- Parag Parikh Conservative Hybrid costs less: 0.32% a year against 0.65% (Direct plans).
- Parag Parikh Conservative Hybrid swung less over 3 years: a standard deviation of 2.7% a year against 11.1%.
- Parag Parikh Conservative Hybrid fell less in its worst fall since 28-05-2021: −2.5% against −14.8%.
- Parag Parikh ELSS Tax Saver holds more in large companies: 68.9% of the fund in large caps against 7.1%.
- Parag Parikh ELSS Tax Saver is the larger fund: ₹5,401 Cr against ₹3,454 Cr.
- Their portfolios overlap 12.2%: 10 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 | Parag Parikh Conservative Hybrid Fund | Parag Parikh ELSS Tax Saver Fund |
|---|---|---|
| Fund house | PPFAS Mutual Fund | PPFAS Mutual Fund |
| Category | Conservative Hybrid | ELSS |
| AUM | ₹3,454 Cr (30-09-2026) | ₹5,401 Cr (30-09-2026) |
| NAV | ₹15.85 (Direct) | ₹30.85 (Direct) |
| Expense ratio (Direct) | 0.32% | 0.65% |
| Expense ratio (Regular) | 0.67% | 1.83% |
| Riskometer | Moderately High | Very High |
| Benchmark | CRISIL Hybrid 85+15 - Conservative Index | Nifty 500 TRI |
| Launch date | 26-05-2021 | 24-07-2019 |
| Minimum investment | ₹5,000 | ₹500 |
| Lock in | None | 3 years |
| Fund managers | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Mansi Kariya | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar |
| Exit load | For units in excess of 10% of the investment,1% will be charged for redemption within 365 days | NIL |
Parag Parikh Conservative Hybrid vs Parag Parikh 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 |
|---|---|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid Fund (Direct) | −1.26% | −1.85% | +0.31% | +1.84% | +8.72% | +8.79% | -- |
| Parag Parikh ELSS Tax Saver Fund (Direct) | +0.63% | −4.15% | −3.36% | −11.32% | +8.55% | +10.30% | -- |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | -- |
Category average: the average of the 18 Conservative Hybrid funds and the 50 ELSS funds, same plan type.
Parag Parikh Conservative Hybrid vs Parag Parikh ELSS Tax Saver: Year-wise Returns
| Year | Conservative HybridParag Parikh Conservative Hybrid | ELSS Tax SaverParag Parikh ELSS Tax Saver |
|---|---|---|
| 2026to date | +1.59% | −10.70% |
| 2025 | +7.75% | +6.19% |
| 2024 | +12.83% | +21.78% |
| 2023 | +14.03% | +28.82% |
| 2022 | +7.87% | +6.58% |
| 2021 | -- | +37.97% |
Parag Parikh Conservative Hybrid vs Parag Parikh ELSS Tax Saver: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Parag Parikh ELSS Tax Saver Fund
Rolling returns
Every 3-year holding period, 590 of them, one for each trading day from 28-05-2024 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.
Parag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
to
Aug 2024Jan 2022
to
Jan 2025Jun 2022
to
Jun 2025Nov 2022
to
Nov 2025Mar 2023
to
Mar 2026Aug 2023
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid | 0.0 | 0.0 | 6.1 | 93.9 | 0.0 | 0.0 | 0.0 | 11.4% | 11.5% | 8.6% | 13.0% | 1% |
| Parag Parikh ELSS Tax Saver | 0.0 | 0.0 | 6.0 | 17.9 | 48.4 | 27.7 | 0.0 | 17.7% | 18.4% | 7.4% | 24.8% | 70% |
| Nifty 500 TRI | 0.0 | 0.0 | 3.2 | 31.2 | 56.6 | 9.0 | 0.0 | 15.9% | 15.9% | 8.8% | 22.3% | -- |
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 28-05-2021. Past returns do not promise future returns.
Parag Parikh Conservative Hybrid vs Parag Parikh 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 28-05-2021 to 30-10-2026: 66 instalments, ₹6,60,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Parag Parikh Conservative HybridParag Parikh Conservative Hybrid Fund (Direct) | ₹6,60,000 | ₹8,25,430 | ₹1,65,430 | 8.1% |
| Parag Parikh ELSS Tax SaverParag Parikh ELSS Tax Saver Fund (Direct) | ₹6,60,000 | ₹8,26,862 | ₹1,66,862 | 8.1% |
Parag Parikh Conservative HybridParag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh ELSS Tax SaverParag Parikh 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.
Parag Parikh Conservative Hybrid vs Parag Parikh ELSS Tax Saver: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Parag Parikh Conservative Hybrid Fund (Direct) | Parag Parikh ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +1.84% | −11.32% |
| Standard deviation | 2.66% | 11.05% |
| Sharpe ratio | -1.28 | -1.50 |
| Sortino ratio | -1.67 | -1.96 |
| Maximum drawdown | −2.5% (23-10-2026) | −13.7% (31-03-2026) |
| Beta | -- | 0.70 |
| Alpha | -- | −7.73% |
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 | Parag Parikh Conservative Hybrid Fund (Direct) | Parag Parikh ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.72% | +8.55% |
| Standard deviation | 2.72% | 11.15% |
| Sharpe ratio | 0.99 | 0.23 |
| Sortino ratio | 1.39 | 0.31 |
| Maximum drawdown | −2.5% (23-10-2026) | −14.8% (31-03-2026) |
| Beta | -- | 0.72 |
| Alpha | -- | −0.47% |
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 | Parag Parikh Conservative Hybrid Fund (Direct) | Parag Parikh ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.79% | +10.30% |
| Standard deviation | 2.91% | 11.32% |
| Sharpe ratio | 1.03 | 0.40 |
| Sortino ratio | 1.47 | 0.55 |
| Maximum drawdown | −2.5% (23-10-2026) | −14.8% (31-03-2026) |
| Beta | -- | 0.73 |
| Alpha | -- | +2.31% |
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 | Parag Parikh Conservative Hybrid Fund (Direct) | Parag Parikh ELSS Tax Saver Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.86% | +16.76% |
| Standard deviation | 2.91% | 13.40% |
| Sharpe ratio | 1.12 | 0.87 |
| Sortino ratio | 1.61 | 1.18 |
| Maximum drawdown | −2.5% (23-10-2026) | −29.5% (23-03-2020) |
| Beta | -- | 0.71 |
| Alpha | -- | +5.40% |
From daily NAVs, 28-05-2021 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.
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.
Parag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid Fund (Direct) | −2.5% | 14-08-2026 | 23-10-2026 | Not yet | -- | −2.3% |
| Parag Parikh ELSS Tax Saver Fund (Direct) | −14.8% | 23-10-2025 | 31-03-2026 | Not yet | -- | −12.4% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 28-05-2021, 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.
Parag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh ELSS Tax Saver 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.
Parag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh ELSS Tax Saver Fund (Direct)
Nifty 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.
Parag Parikh Conservative Hybrid Fund (Direct)
Parag Parikh ELSS Tax Saver Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Parag Parikh Conservative Hybrid Fund (Direct) | 35% | 4% | 12.26% |
| Parag Parikh ELSS Tax Saver Fund (Direct) | 80% | 56% | 6.40% |
From month-end values since 28-05-2021. 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.
Parag Parikh Conservative Hybrid vs Parag Parikh ELSS Tax Saver: Portfolio Overlap
From each fund's latest monthly portfolio: Parag Parikh Conservative Hybrid Fund, September 2026; Parag Parikh ELSS Tax Saver Fund, September 2026
Holdings in common
- Overlap
- 12.2%
- Held by both
- 10
- Only in Parag Parikh Conservative Hybrid
- 68
- Only in Parag Parikh ELSS Tax Saver
- 36
| Security | % of Parag Parikh Conservative Hybrid | % of Parag Parikh ELSS Tax Saver |
|---|---|---|
| Embassy Office Parks REIT | 5.01% | 2.58% |
| Brookfield India Real Estate Trust | 5.06% | 2.53% |
| Coal India Limited | 2.07% | 6.46% |
| ITC Limited | 2.02% | 5.02% |
| Power Grid Corporation of India Limited | 1.97% | 6.58% |
| Knowledge Realty Trust | 2.34% | 0.52% |
| Swaraj Engines Limited | 0.64% | 0.21% |
| Petronet LNG Limited | 2.09% | 0.11% |
| 364 Days Tbill (MD 01/07/2027) | 0.14% | 0.09% |
| Indus Towers Limited | 0.07% | 0.10% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 12.2% means 12.2% 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 Parag Parikh Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| 7.21% Tamilnadu SDL (MD 21/01/2032) | 5.55% |
| 7.08% Uttar Pradesh SDL (MD 17/02/2031) | 4.27% |
| 7.08% Karnataka SDL (MD 12/08/2031) | 3.99% |
| 7.72% Maharashtra SDL (MD 01/03/2031) | 3.66% |
| 7.72% Maharashtra SDL (MD 23/03/2032) | 2.91% |
Largest holdings only in Parag Parikh ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| HDFC Bank Limited | 7.57% |
| Bajaj Holdings & Investment Limited | 7.05% |
| Maharashtra Scooters Limited | 5.50% |
| ICICI Bank Limited | 4.86% |
| Kotak Mahindra Bank Limited | 4.70% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Parag Parikh Conservative Hybrid | Parag Parikh ELSS Tax Saver |
|---|---|---|
| Equity | 9.8% | 90.9% |
| Debt | 74.0% | 0.3% |
| Cash and others | 16.2% | 8.8% |
Market cap of stocks
| Market cap | Parag Parikh Conservative Hybrid | Parag Parikh ELSS Tax Saver |
|---|---|---|
| Large Cap | 7.1% | 68.9% |
| Mid Cap | 2.1% | 3.6% |
| Small Cap | 0.6% | 18.4% |
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 | Parag Parikh Conservative Hybrid | Parag Parikh ELSS Tax Saver |
|---|---|---|
| Banks | 0.0% | 20.8% |
| Finance | 1.0% | 12.6% |
| IT - Software | 0.0% | 10.6% |
| Automobiles | 0.0% | 7.0% |
| Power | 2.0% | 6.6% |
| Consumable Fuels | 2.1% | 6.5% |
| Diversified FMCG | 2.0% | 5.0% |
| Gas | 2.1% | 0.7% |
| Industrial Products | 0.6% | 0.2% |
The six largest sectors of each fund's stocks, % of the fund.
Parag Parikh Conservative Hybrid vs Parag Parikh ELSS Tax Saver: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Parag Parikh Conservative Hybrid Fund | Parag Parikh ELSS Tax Saver Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.32% | 0.65% |
| Base expense ratio (Direct) | 0.24% | 0.54% |
| Total expense ratio (Regular) | 0.67% | 1.83% |
| Base expense ratio (Regular) | 0.54% | 1.54% |
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 Parag Parikh Conservative Hybrid with
Compare Parag Parikh ELSS Tax Saver with
Parag Parikh Conservative Hybrid Fund vs Parag Parikh ELSS Tax Saver Fund: Frequently Asked Questions
What is the difference between Parag Parikh Conservative Hybrid Fund and Parag Parikh ELSS Tax Saver Fund?
Parag Parikh Conservative Hybrid Fund is a Conservative Hybrid fund, Parag Parikh ELSS Tax Saver Fund is an ELSS fund, run by PPFAS Mutual Fund. Their portfolios overlap 12.2%. Parag Parikh Conservative Hybrid Fund charges 0.32% a year and Parag Parikh ELSS Tax Saver Fund 0.65%.
Which has given higher returns, Parag Parikh Conservative Hybrid Fund or Parag Parikh ELSS Tax Saver Fund?
Over 1 year: Parag Parikh Conservative Hybrid Fund +1.84%, Parag Parikh ELSS Tax Saver Fund −11.32%. Over 3 years: Parag Parikh Conservative Hybrid Fund +8.72% a year, Parag Parikh ELSS Tax Saver Fund +8.55% a year. Over 5 years: Parag Parikh Conservative Hybrid Fund +8.79% a year, Parag Parikh ELSS Tax Saver Fund +10.30% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Parag Parikh Conservative Hybrid Fund or Parag Parikh ELSS Tax Saver Fund?
Parag Parikh Conservative Hybrid Fund charges less: 0.32% a year against 0.65%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Parag Parikh Conservative Hybrid Fund and Parag Parikh ELSS Tax Saver Fund overlap?
12.2%. They hold 10 of the same securities, the largest shared ones being EMBASSY-RR, BIRET-RR, COALINDIA. From each fund's latest monthly portfolio.
Which is riskier, Parag Parikh Conservative Hybrid Fund or Parag Parikh ELSS Tax Saver Fund?
On SEBI's riskometer, Parag Parikh Conservative Hybrid Fund is rated Moderately High and Parag Parikh ELSS Tax Saver Fund Very High. Over 3 years, the standard deviation of daily returns was 2.72% and 11.15% a year.
Which is better for SIP, Parag Parikh Conservative Hybrid Fund or Parag Parikh 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 ₹7,46,581 in Parag Parikh Conservative Hybrid Fund (XIRR 7.9% a year) and ₹7,33,921 in Parag Parikh ELSS Tax Saver Fund (XIRR 7.2% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Parag Parikh Conservative Hybrid Fund and Parag Parikh ELSS Tax Saver Fund?
Yes. 12.2% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Parag Parikh Conservative Hybrid Fund and Parag Parikh ELSS Tax Saver Fund?
Parag Parikh Conservative Hybrid Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Mansi Kariya. Parag Parikh ELSS Tax Saver Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar.
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.