Parag Parikh ELSS Tax Saver Fund vs Parag Parikh Flexi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
Parag Parikh ELSS Tax Saver Fund is an ELSS fund and Parag Parikh Flexi Cap Fund is a Flexi Cap fund. In the 3 years to 30-10-2026, Parag Parikh ELSS Tax Saver Fund (Direct) returned 8.6% a year and Parag Parikh Flexi Cap Fund (Direct) returned 12.6% a year. Parag Parikh ELSS Tax Saver Fund charges 0.65% a year and Parag Parikh Flexi Cap Fund 0.69% (Direct plans). Their portfolios overlap 71.1%: they hold 38 of the same securities.
Parag Parikh ELSS Tax Saver Fund
ELSS
- 3 year return
- 8.6%
- Expense ratio
- 0.65%
- NAV
- ₹30.85
Parag Parikh Flexi Cap Fund
Flexi Cap
- 3 year return
- 12.6%
- Expense ratio
- 0.69%
- NAV
- ₹88.96
Which is better, Parag Parikh ELSS Tax Saver or Parag Parikh Flexi Cap? 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 Flexi Cap returned more over 5 years: 10.8% a year against 10.3%.
- Parag Parikh Flexi Cap returned more over 3 years: 12.6% a year against 8.6%.
- Parag Parikh ELSS Tax Saver costs less: 0.65% a year against 0.69% (Direct plans).
- Parag Parikh Flexi Cap swung less over 3 years: a standard deviation of 9.7% a year against 11.1%.
- Parag Parikh ELSS Tax Saver fell less in its worst fall since 26-07-2019: −29.5% against −31.2%.
- Parag Parikh Flexi Cap holds 11.9% of the fund in foreign stocks; Parag Parikh ELSS Tax Saver 0.0%.
- Parag Parikh Flexi Cap is the larger fund: ₹1,45,071 Cr against ₹5,401 Cr.
- Their portfolios overlap 71.1%: 38 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 ELSS Tax Saver Fund | Parag Parikh Flexi Cap Fund |
|---|---|---|
| Fund house | PPFAS Mutual Fund | PPFAS Mutual Fund |
| Category | ELSS | Flexi Cap |
| AUM | ₹5,401 Cr (30-09-2026) | ₹1,45,071 Cr (30-09-2026) |
| NAV | ₹30.85 (Direct) | ₹88.96 (Direct) |
| Expense ratio (Direct) | 0.65% | 0.69% |
| Expense ratio (Regular) | 1.83% | 1.30% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| Launch date | 24-07-2019 | 24-05-2013 |
| Minimum investment | ₹500 | ₹1,000 |
| Lock in | 3 years | None |
| Fund managers | Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar | Rajeev Thakkar, Rukun Tarachandani, Raj Mehta, Raunak Onkar, Tejas Soman, Mansi Kariya, Aishwarya Dhar |
| Exit load | NIL | For units above 10% of the investment, exit load of 2% if redeemed within 365 days and 1% if redeemed after 365 days but on or before 730 days. |
Parag Parikh ELSS Tax Saver vs Parag Parikh Flexi Cap: 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 ELSS Tax Saver Fund (Direct) | +0.63% | −4.15% | −3.36% | −11.32% | +8.55% | +10.30% | -- |
| Parag Parikh Flexi Cap Fund (Direct) | +0.27% | −2.25% | −2.67% | −6.97% | +12.57% | +10.85% | +16.65% |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | -- |
| Flexi Cap average | −1.62% | −4.17% | +1.00% | −3.58% | +12.37% | +10.04% | +13.13% |
Category average: the average of the 50 ELSS funds and the 46 Flexi Cap funds, same plan type.
Parag Parikh ELSS Tax Saver vs Parag Parikh Flexi Cap: Year-wise Returns
| Year | ELSS Tax SaverParag Parikh ELSS Tax Saver | Flexi CapParag Parikh Flexi Cap | Nifty 500 TRI |
|---|---|---|---|
| 2026to date | −10.70% | −6.52% | −7.51% |
| 2025 | +6.19% | +8.55% | +7.76% |
| 2024 | +21.78% | +24.81% | +16.24% |
| 2023 | +28.82% | +37.64% | +26.91% |
| 2022 | +6.58% | −6.29% | +4.25% |
| 2021 | +37.97% | +46.97% | +31.60% |
Parag Parikh ELSS Tax Saver vs Parag Parikh Flexi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 1,048 of them, one for each trading day from 26-07-2022 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.
Parag Parikh ELSS Tax Saver Fund (Direct)
Parag Parikh Flexi Cap Fund (Direct)
Nifty 500 TRI
to
Nov 2022Aug 2020
to
Aug 2023May 2021
to
May 2024Jan 2022
to
Jan 2025Oct 2022
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Parag Parikh ELSS Tax Saver | 0.0 | 0.0 | 3.4 | 10.2 | 27.7 | 39.2 | 19.5 | 21.2% | 22.2% | 7.4% | 37.5% | 83% |
| Parag Parikh Flexi Cap | 0.0 | 0.0 | 0.0 | 7.6 | 23.9 | 52.1 | 16.3 | 21.8% | 22.2% | 11.6% | 37.6% | 99% |
| Nifty 500 TRI | 0.0 | 0.0 | 1.8 | 18.0 | 53.1 | 19.8 | 7.3 | 18.1% | 17.9% | 8.8% | 33.5% | -- |
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 26-07-2019. Past returns do not promise future returns.
Parag Parikh ELSS Tax Saver vs Parag Parikh Flexi Cap: 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 26-07-2019 to 30-10-2026: 88 instalments, ₹8,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Parag Parikh ELSS Tax SaverParag Parikh ELSS Tax Saver Fund (Direct) | ₹8,80,000 | ₹14,35,056 | ₹5,55,056 | 13.1% |
| Parag Parikh Flexi CapParag Parikh Flexi Cap Fund (Direct) | ₹8,80,000 | ₹15,62,470 | ₹6,82,470 | 15.4% |
Parag Parikh ELSS Tax SaverParag Parikh ELSS Tax Saver Fund (Direct)
Parag Parikh Flexi CapParag Parikh Flexi Cap 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 ELSS Tax Saver vs Parag Parikh Flexi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Parag Parikh ELSS Tax Saver Fund (Direct) | Parag Parikh Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −11.32% | −6.97% |
| Standard deviation | 11.05% | 9.20% |
| Sharpe ratio | -1.50 | -1.33 |
| Sortino ratio | -1.96 | -1.78 |
| Maximum drawdown | −13.7% (31-03-2026) | −10.8% (30-03-2026) |
| Beta | 0.70 | 0.56 |
| Alpha | −7.73% | −4.97% |
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 ELSS Tax Saver Fund (Direct) | Parag Parikh Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.55% | +12.57% |
| Standard deviation | 11.15% | 9.75% |
| Sharpe ratio | 0.23 | 0.67 |
| Sortino ratio | 0.31 | 0.95 |
| Maximum drawdown | −14.8% (31-03-2026) | −11.0% (30-03-2026) |
| Beta | 0.72 | 0.60 |
| Alpha | −0.47% | +3.89% |
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 ELSS Tax Saver Fund (Direct) | Parag Parikh Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +10.30% | +10.85% |
| Standard deviation | 11.32% | 11.35% |
| Sharpe ratio | 0.40 | 0.45 |
| Sortino ratio | 0.55 | 0.62 |
| Maximum drawdown | −14.8% (31-03-2026) | −17.8% (17-06-2022) |
| Beta | 0.73 | 0.67 |
| Alpha | +2.31% | +3.00% |
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 ELSS Tax Saver Fund (Direct) | Parag Parikh Flexi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +16.76% | +17.69% |
| Standard deviation | 13.40% | 11.74% |
| Sharpe ratio | 0.87 | 1.00 |
| Sortino ratio | 1.18 | 1.39 |
| Maximum drawdown | −29.5% (23-03-2020) | −31.2% (24-03-2020) |
| Beta | 0.71 | 0.59 |
| Alpha | +5.40% | +7.39% |
From daily NAVs, 26-07-2019 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 ELSS Tax Saver Fund (Direct)
Parag Parikh Flexi Cap 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 ELSS Tax Saver Fund (Direct) | −29.5% | 13-02-2020 | 23-03-2020 | 21-07-2020 | 4 months | −12.4% |
| Parag Parikh Flexi Cap Fund (Direct) | −31.2% | 13-02-2020 | 24-03-2020 | 07-07-2020 | 3 months | −7.1% |
| Nifty 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −8.8% |
From daily values since 26-07-2019, 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.
Parag Parikh ELSS Tax Saver Fund (Direct)
Parag Parikh Flexi Cap 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 ELSS Tax Saver Fund (Direct)
Parag Parikh Flexi Cap 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 ELSS Tax Saver Fund (Direct)
Parag Parikh Flexi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Parag Parikh ELSS Tax Saver Fund (Direct) | 80% | 49% | 7.77% |
| Parag Parikh Flexi Cap Fund (Direct) | 86% | 51% | 8.23% |
From month-end values since 26-07-2019. 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.
Parag Parikh ELSS Tax Saver vs Parag Parikh Flexi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Parag Parikh ELSS Tax Saver Fund, September 2026; Parag Parikh Flexi Cap Fund, September 2026
Holdings in common
- Overlap
- 71.1%
- Held by both
- 38
- Only in Parag Parikh ELSS Tax Saver
- 8
- Only in Parag Parikh Flexi Cap
- 35
| Security | % of Parag Parikh ELSS Tax Saver | % of Parag Parikh Flexi Cap |
|---|---|---|
| HDFC Bank Limited | 7.57% | 7.75% |
| Power Grid Corporation of India Limited | 6.58% | 5.60% |
| Coal India Limited | 6.46% | 5.39% |
| ITC Limited | 5.02% | 5.49% |
| Bajaj Holdings & Investment Limited | 7.05% | 4.96% |
| ICICI Bank Limited | 4.86% | 5.24% |
| Kotak Mahindra Bank Limited | 4.70% | 4.44% |
| HCL Technologies Limited | 4.36% | 3.96% |
| Mahindra & Mahindra Limited | 3.51% | 3.89% |
| Infosys Limited | 3.13% | 2.93% |
| Bharti Airtel Limited | 3.41% | 2.91% |
| Axis Bank Limited | 3.63% | 2.85% |
| Embassy Office Parks REIT | 2.58% | 2.49% |
| Maruti Suzuki India Limited | 3.53% | 2.40% |
| Tata Consultancy Services Limited | 1.73% | 2.50% |
| Brookfield India Real Estate Trust | 2.53% | 1.60% |
| Zydus Lifesciences Limited | 1.75% | 1.54% |
| Cipla Limited | 1.37% | 1.33% |
| Dr. Reddy's Laboratories Limited | 1.39% | 1.23% |
| Zydus Wellness Limited | 1.10% | 0.78% |
| Indian Energy Exchange Limited | 0.78% | 0.62% |
| DLF Limited | 0.56% | 2.45% |
| Knowledge Realty Trust | 0.52% | 2.18% |
| Indraprastha Gas Limited | 0.48% | 1.22% |
| EID Parry India Limited | 0.45% | 0.52% |
| Narayana Hrudayalaya Limited | 0.35% | 0.25% |
| Central Depository Services (India) Limited | 0.24% | 0.20% |
| CMS Info System Limited | 2.48% | 0.15% |
| 364 Days Tbill (MD 15/01/2027) | 0.18% | 0.14% |
| Petronet LNG Limited | 0.11% | 0.60% |
| Maharashtra Scooters Limited | 5.50% | 0.10% |
| Indus Towers Limited | 0.10% | 0.18% |
| Mahanagar Gas Limited | 0.08% | 0.29% |
| 364 Days Tbill (MD 01/07/2027) | 0.09% | 0.07% |
| CIE Automotive India Limited | 0.05% | 0.17% |
| ICRA Limited | 0.05% | 0.08% |
| Nesco Limited | 0.03% | 0.03% |
| Swaraj Engines Limited | 0.21% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 71.1% means 71.1% 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 ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| CCL Products (India) Limited | 2.65% |
| Wipro Limited | 1.37% |
| West Coast Paper Mills Limited | 1.29% |
| Seshaasai Technologies Limited | 1.18% |
| VST Industries Limited | 0.87% |
Largest holdings only in Parag Parikh Flexi Cap Fund
| Security | % of fund |
|---|---|
| Parag Parikh Liquid Fund- Direct Plan- Growth | 0.60% |
| Export Import Bank of India (14/12/2026) | 0.31% |
| Canara Bank (18/12/2026) | 0.31% |
| 364 Days Tbill (MD 15/10/2026) | 0.24% |
| Kotak Mahindra Bank Limited (18/12/2026) | 0.21% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Parag Parikh ELSS Tax Saver | Parag Parikh Flexi Cap |
|---|---|---|
| Equity | 90.9% | 84.0% |
| Debt | 0.3% | 3.9% |
| Cash and others | 8.8% | 12.2% |
Market cap of stocks
| Market cap | Parag Parikh ELSS Tax Saver | Parag Parikh Flexi Cap |
|---|---|---|
| Large Cap | 68.9% | 64.3% |
| Mid Cap | 3.6% | 3.6% |
| Small Cap | 18.4% | 4.2% |
| Foreign stocks | 0.0% | 11.9% |
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 ELSS Tax Saver | Parag Parikh Flexi Cap |
|---|---|---|
| Banks | 20.8% | 20.3% |
| Finance | 12.6% | 5.1% |
| IT - Software | 10.6% | 9.4% |
| Computer Software: Programming, Data Processing | 0.0% | 7.1% |
| Automobiles | 7.0% | 6.3% |
| Power | 6.6% | 5.6% |
| Consumable Fuels | 6.5% | 5.4% |
| Diversified FMCG | 5.0% | 5.5% |
The six largest sectors of each fund's stocks, % of the fund.
Parag Parikh ELSS Tax Saver vs Parag Parikh Flexi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Parag Parikh ELSS Tax Saver Fund | Parag Parikh Flexi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.65% | 0.69% |
| Base expense ratio (Direct) | 0.54% | 0.53% |
| Total expense ratio (Regular) | 1.83% | 1.30% |
| Base expense ratio (Regular) | 1.54% | 1.05% |
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 ELSS Tax Saver with
Parag Parikh ELSS Tax Saver Fund vs Parag Parikh Flexi Cap Fund: Frequently Asked Questions
What is the difference between Parag Parikh ELSS Tax Saver Fund and Parag Parikh Flexi Cap Fund?
Parag Parikh ELSS Tax Saver Fund is an ELSS fund, Parag Parikh Flexi Cap Fund is a Flexi Cap fund, run by PPFAS Mutual Fund. Their portfolios overlap 71.1%. Parag Parikh ELSS Tax Saver Fund charges 0.65% a year and Parag Parikh Flexi Cap Fund 0.69%.
Which has given higher returns, Parag Parikh ELSS Tax Saver Fund or Parag Parikh Flexi Cap Fund?
Over 1 year: Parag Parikh ELSS Tax Saver Fund −11.32%, Parag Parikh Flexi Cap Fund −6.97%. Over 3 years: Parag Parikh ELSS Tax Saver Fund +8.55% a year, Parag Parikh Flexi Cap Fund +12.57% a year. Over 5 years: Parag Parikh ELSS Tax Saver Fund +10.30% a year, Parag Parikh Flexi Cap Fund +10.85% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Parag Parikh ELSS Tax Saver Fund or Parag Parikh Flexi Cap Fund?
Parag Parikh ELSS Tax Saver Fund charges less: 0.65% a year against 0.69%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Parag Parikh ELSS Tax Saver Fund and Parag Parikh Flexi Cap Fund overlap?
71.1%. They hold 38 of the same securities, the largest shared ones being HDFCBANK, POWERGRID, COALINDIA. From each fund's latest monthly portfolio.
Which is riskier, Parag Parikh ELSS Tax Saver Fund or Parag Parikh Flexi Cap Fund?
On SEBI's riskometer, Parag Parikh ELSS Tax Saver Fund is rated Very High and Parag Parikh Flexi Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 11.15% and 9.75% a year.
Which is better for SIP, Parag Parikh ELSS Tax Saver Fund or Parag Parikh Flexi Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,33,921 in Parag Parikh ELSS Tax Saver Fund (XIRR 7.2% a year) and ₹7,94,331 in Parag Parikh Flexi Cap Fund (XIRR 10.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Parag Parikh ELSS Tax Saver Fund and Parag Parikh Flexi Cap Fund?
Yes. 71.1% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Parag Parikh ELSS Tax Saver Fund and Parag Parikh Flexi Cap Fund?
Parag Parikh ELSS Tax Saver Fund: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman, Aishwarya Dhar. Parag Parikh Flexi Cap Fund: Rajeev Thakkar, Rukun Tarachandani, Raj Mehta, Raunak Onkar, Tejas Soman, Mansi Kariya, 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.