PGIM India ELSS Tax Saver Fund vs PGIM India Small Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
PGIM India ELSS Tax Saver Fund is an ELSS fund and PGIM India Small Cap Fund is a Small Cap fund. In the 3 years to 30-10-2026, PGIM India ELSS Tax Saver Fund (Direct) returned 9.3% a year and PGIM India Small Cap Fund (Direct) returned 14.6% a year. PGIM India ELSS Tax Saver Fund charges 1.07% a year and PGIM India Small Cap Fund 0.95% (Direct plans). Their portfolios overlap 28.4%: they hold 39 of the same securities.
PGIM India ELSS Tax Saver Fund
ELSS
- 3 year return
- 9.3%
- Expense ratio
- 1.07%
- NAV
- ₹38.62
PGIM India Small Cap Fund
Small Cap
- 3 year return
- 14.6%
- Expense ratio
- 0.95%
- NAV
- ₹18.81
Which is better, PGIM India ELSS Tax Saver or PGIM India Small Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- PGIM India Small Cap returned more over 5 years: 11.4% a year against 9.0%.
- PGIM India Small Cap returned more over 3 years: 14.6% a year against 9.3%.
- PGIM India Small Cap costs less: 0.95% a year against 1.07% (Direct plans).
- PGIM India ELSS Tax Saver swung less over 3 years: a standard deviation of 13.2% a year against 15.6%.
- PGIM India ELSS Tax Saver fell less in its worst fall since 02-08-2021: −17.0% against −24.6%.
- PGIM India ELSS Tax Saver holds more in large companies: 55.8% of the fund in large caps against 7.3%.
- PGIM India Small Cap is the larger fund: ₹1,739 Cr against ₹680 Cr.
- Their portfolios overlap 28.4%: 39 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 | PGIM India ELSS Tax Saver Fund | PGIM India Small Cap Fund |
|---|---|---|
| Fund house | PGIM India Mutual Fund | PGIM India Mutual Fund |
| Category | ELSS | Small Cap |
| AUM | ₹680 Cr (30-09-2026) | ₹1,739 Cr (30-09-2026) |
| NAV | ₹38.62 (Direct) | ₹18.81 (Direct) |
| Expense ratio (Direct) | 1.07% | 0.95% |
| Expense ratio (Regular) | 2.60% | 2.38% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty Smallcap 250 TRI |
| Launch date | 11-12-2015 | 29-07-2021 |
| Minimum investment | ₹500 | ₹5,000 |
| Lock in | 3 years | None |
| Fund managers | Utsav Mehta, Vinay Paharia, and Mr. Akhil Dhar | Utsav Mehta, Vivek Sharma, Vinay Paharia, Puneet Pal |
| Exit load | NIL | Exit load of 0.5%, if redeemed within 90 days. |
PGIM India ELSS Tax Saver vs PGIM India Small 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 |
|---|---|---|---|---|---|---|---|
| PGIM India ELSS Tax Saver Fund (Direct) | −0.72% | −3.79% | +1.55% | −5.53% | +9.28% | +9.04% | +12.91% |
| PGIM India Small Cap Fund (Direct) | −5.00% | −1.62% | +7.36% | +4.79% | +14.56% | +11.41% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Small Cap average | −5.86% | −3.28% | +5.03% | +3.00% | +14.03% | +14.51% | -- |
Category average: the average of the 50 ELSS funds and the 36 Small Cap funds, same plan type.
PGIM India ELSS Tax Saver vs PGIM India Small Cap: Year-wise Returns
| Year | ELSS Tax SaverPGIM India ELSS Tax Saver | Small CapPGIM India Small Cap |
|---|---|---|
| 2026to date | −4.26% | +9.30% |
| 2025 | +3.54% | +1.00% |
| 2024 | +17.38% | +21.54% |
| 2023 | +21.26% | +25.85% |
| 2022 | +6.21% | −3.47% |
| 2021 | +39.07% | -- |
PGIM India ELSS Tax Saver vs PGIM India Small Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of PGIM India ELSS Tax Saver Fund
Rolling returns
Every 3-year holding period, 553 of them, one for each trading day from 02-08-2024 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.
PGIM India ELSS Tax Saver Fund (Direct)
PGIM India Small Cap Fund (Direct)
Nifty 500 TRI
to
Oct 2024Feb 2022
to
Feb 2025Jul 2022
to
Jul 2025Nov 2022
to
Nov 2025Apr 2023
to
Apr 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PGIM India ELSS Tax Saver | 0.0 | 0.0 | 13.4 | 54.1 | 31.8 | 0.7 | 0.0 | 13.6% | 13.5% | 7.9% | 20.5% | 0% |
| PGIM India Small Cap | 0.0 | 0.0 | 2.9 | 28.4 | 63.3 | 5.4 | 0.0 | 15.7% | 16.0% | 7.8% | 21.7% | 39% |
| Nifty 500 TRI | 0.0 | 0.0 | 3.4 | 34.2 | 56.4 | 6.0 | 0.0 | 15.6% | 15.6% | 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 02-08-2021. Past returns do not promise future returns.
PGIM India ELSS Tax Saver vs PGIM India Small 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 02-08-2021 to 30-10-2026: 63 instalments, ₹6,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| PGIM India ELSS Tax SaverPGIM India ELSS Tax Saver Fund (Direct) | ₹6,30,000 | ₹7,67,381 | ₹1,37,381 | 7.5% |
| PGIM India Small CapPGIM India Small Cap Fund (Direct) | ₹6,30,000 | ₹8,74,449 | ₹2,44,449 | 12.4% |
PGIM India ELSS Tax SaverPGIM India ELSS Tax Saver Fund (Direct)
PGIM India Small CapPGIM India Small 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.
PGIM India ELSS Tax Saver vs PGIM India Small Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | PGIM India ELSS Tax Saver Fund (Direct) | PGIM India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −5.53% | +4.79% |
| Standard deviation | 14.02% | 15.96% |
| Sharpe ratio | -0.77 | -0.03 |
| Sortino ratio | -1.04 | -0.04 |
| Maximum drawdown | −16.5% (30-03-2026) | −15.7% (23-03-2026) |
| Beta | 0.96 | 0.84 |
| Alpha | +1.29% | +6.58% |
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 | PGIM India ELSS Tax Saver Fund (Direct) | PGIM India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.28% | +14.56% |
| Standard deviation | 13.17% | 15.58% |
| Sharpe ratio | 0.25 | 0.55 |
| Sortino ratio | 0.34 | 0.75 |
| Maximum drawdown | −16.5% (30-03-2026) | −21.5% (03-03-2025) |
| Beta | 0.90 | 0.76 |
| Alpha | −0.50% | +3.70% |
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 | PGIM India ELSS Tax Saver Fund (Direct) | PGIM India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.04% | +11.41% |
| Standard deviation | 13.22% | 15.77% |
| Sharpe ratio | 0.25 | 0.36 |
| Sortino ratio | 0.33 | 0.47 |
| Maximum drawdown | −17.0% (20-06-2022) | −24.6% (20-06-2022) |
| Beta | 0.90 | 0.80 |
| Alpha | +0.55% | −0.24% |
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 | PGIM India ELSS Tax Saver Fund (Direct) | PGIM India Small Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.22% | +12.53% |
| Standard deviation | 14.88% | 15.76% |
| Sharpe ratio | 0.52 | 0.43 |
| Sortino ratio | 0.70 | 0.58 |
| Maximum drawdown | −36.7% (23-03-2020) | −24.6% (20-06-2022) |
| Beta | 0.91 | 0.80 |
| Alpha | +0.78% | +1.05% |
From daily NAVs, 14-12-2015 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.
PGIM India ELSS Tax Saver Fund (Direct)
PGIM India Small 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 |
|---|---|---|---|---|---|---|
| PGIM India ELSS Tax Saver Fund (Direct) | −17.0% | 17-01-2022 | 20-06-2022 | 07-11-2022 | 5 months | −6.2% |
| PGIM India Small Cap Fund (Direct) | −24.6% | 17-01-2022 | 20-06-2022 | 17-07-2023 | 13 months | −8.2% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 02-08-2021, 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.
PGIM India ELSS Tax Saver Fund (Direct)
PGIM India Small 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.
PGIM India ELSS Tax Saver Fund (Direct)
PGIM India Small 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.
PGIM India ELSS Tax Saver Fund (Direct)
PGIM India Small Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| PGIM India ELSS Tax Saver Fund (Direct) | 92% | 86% | 4.36% |
| PGIM India Small Cap Fund (Direct) | 111% | 96% | 8.89% |
From month-end values since 02-08-2021. 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.
PGIM India ELSS Tax Saver vs PGIM India Small Cap: Portfolio Overlap
From each fund's latest monthly portfolio: PGIM India ELSS Tax Saver Fund, September 2026; PGIM India Small Cap Fund, September 2026
Holdings in common
- Overlap
- 28.4%
- Held by both
- 39
- Only in PGIM India ELSS Tax Saver
- 50
- Only in PGIM India Small Cap
- 33
| Security | % of PGIM India ELSS Tax Saver | % of PGIM India Small Cap |
|---|---|---|
| Clean Max Enviro Energy Solutions Ltd. | 1.39% | 1.66% |
| Navin Fluorine International Ltd. | 1.31% | 2.75% |
| Eternal Ltd. | 2.49% | 1.27% |
| Sai Life Sciences Ltd | 1.22% | 1.87% |
| Welspun Corp Ltd. | 1.11% | 1.75% |
| Solar Industries India Ltd. | 1.01% | 1.21% |
| Data Patterns (India) Ltd. | 1.00% | 1.08% |
| ICICI Bank Ltd. | 6.98% | 0.97% |
| K.P.R. Mill Ltd. | 0.97% | 1.16% |
| City Union Bank Ltd. | 0.97% | 2.42% |
| Multi Commodity Exchange Of India Ltd. | 0.95% | 1.83% |
| Sudeep Pharma Ltd. | 0.93% | 1.66% |
| MRS Bectors Food Specialities Ltd. | 0.88% | 1.52% |
| Infosys Ltd. | 2.94% | 0.87% |
| Krishna Inst of Medical Sciences Ltd. | 0.84% | 2.91% |
| AU Small Finance Bank Ltd. | 0.81% | 1.01% |
| Happy Forgings Ltd. | 0.79% | 1.18% |
| Home First Finance Company India Ltd. | 0.78% | 0.90% |
| One 97 Communications Ltd. | 0.77% | 1.16% |
| Affle 3i Ltd. | 0.76% | 2.76% |
| Vishal Mega Mart Ltd | 0.73% | 1.31% |
| Radico Khaitan Ltd. | 0.67% | 1.27% |
| CCL Products (India) Ltd. | 0.60% | 1.32% |
| Doms Industries Ltd. | 0.60% | 1.49% |
| S.J.S. Enterprises Ltd. | 0.59% | 1.26% |
| TBO Tek Ltd. | 0.58% | 3.12% |
| Dr Agarwal's Health Care Ltd. | 0.58% | 1.54% |
| Inventurus Knowledge Solutions Ltd. | 0.58% | 0.95% |
| Container Corporation Of India Ltd. | 0.53% | 1.11% |
| Sundaram Finance Ltd. | 0.48% | 1.05% |
| KSB Ltd. | 0.44% | 1.37% |
| Triveni Turbine Ltd. | 0.42% | 1.05% |
| Blue Star Ltd. | 0.42% | 1.02% |
| 360 One Wam Ltd. | 0.40% | 1.48% |
| Amagi Media Labs Ltd. | 0.37% | 2.08% |
| Computer Age Management Services Ltd. | 0.35% | 1.28% |
| Sagility Ltd. | 0.33% | 1.27% |
| 364 DAYS TBILL RED 29-10-2026 | 0.15% | 0.14% |
| AWFIS Space Solutions Ltd. | 0.03% | 0.25% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 28.4% means 28.4% 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 PGIM India ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| HDFC Bank Ltd. | 7.01% |
| Bharti Airtel Ltd. | 3.84% |
| Reliance Industries Ltd. | 3.29% |
| Bajaj Finance Ltd. | 2.95% |
| Kotak Mahindra Bank Ltd. | 2.57% |
Largest holdings only in PGIM India Small Cap Fund
| Security | % of fund |
|---|---|
| Sansera Engineering Ltd. | 3.42% |
| Sedemac Mechatronics Ltd. | 3.02% |
| Karur Vysya Bank Ltd. | 2.20% |
| Torrent Pharmaceuticals Ltd. | 2.00% |
| Ethos Ltd. | 1.88% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | PGIM India ELSS Tax Saver | PGIM India Small Cap |
|---|---|---|
| Equity | 97.7% | 96.5% |
| Debt | 0.1% | 0.1% |
| Cash and others | 2.2% | 3.3% |
Market cap of stocks
| Market cap | PGIM India ELSS Tax Saver | PGIM India Small Cap |
|---|---|---|
| Large Cap | 55.8% | 7.3% |
| Mid Cap | 20.1% | 16.0% |
| Small Cap | 21.2% | 65.8% |
| Not on AMFI's list | 0.6% | 7.4% |
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 | PGIM India ELSS Tax Saver | PGIM India Small Cap |
|---|---|---|
| Banks | 20.9% | 7.6% |
| Auto Components | 3.7% | 10.8% |
| IT - Services | 2.0% | 7.1% |
| Pharmaceuticals & Biotechnology | 5.5% | 5.8% |
| Chemicals & Petrochemicals | 4.1% | 5.6% |
| Industrial Products | 2.9% | 5.4% |
| Finance | 5.3% | 3.2% |
| IT - Software | 4.6% | 1.7% |
| Telecom - Services | 3.8% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
PGIM India ELSS Tax Saver vs PGIM India Small Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | PGIM India ELSS Tax Saver Fund | PGIM India Small Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.07% | 0.95% |
| Base expense ratio (Direct) | 0.76% | 0.59% |
| Total expense ratio (Regular) | 2.60% | 2.38% |
| Base expense ratio (Regular) | 2.05% | 1.80% |
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 PGIM India ELSS Tax Saver with
PGIM India ELSS Tax Saver Fund vs PGIM India Small Cap Fund: Frequently Asked Questions
What is the difference between PGIM India ELSS Tax Saver Fund and PGIM India Small Cap Fund?
PGIM India ELSS Tax Saver Fund is an ELSS fund, PGIM India Small Cap Fund is a Small Cap fund, run by PGIM India Mutual Fund. Their portfolios overlap 28.4%. PGIM India ELSS Tax Saver Fund charges 1.07% a year and PGIM India Small Cap Fund 0.95%.
Which has given higher returns, PGIM India ELSS Tax Saver Fund or PGIM India Small Cap Fund?
Over 1 year: PGIM India ELSS Tax Saver Fund −5.53%, PGIM India Small Cap Fund +4.79%. Over 3 years: PGIM India ELSS Tax Saver Fund +9.28% a year, PGIM India Small Cap Fund +14.56% a year. Over 5 years: PGIM India ELSS Tax Saver Fund +9.04% a year, PGIM India Small Cap Fund +11.41% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, PGIM India ELSS Tax Saver Fund or PGIM India Small Cap Fund?
PGIM India Small Cap Fund charges less: 0.95% a year against 1.07%. These are the Direct plans' total expense ratios reported to AMFI.
How much do PGIM India ELSS Tax Saver Fund and PGIM India Small Cap Fund overlap?
28.4%. They hold 39 of the same securities, the largest shared ones being CLEANMAX, NAVINFLUOR, ETERNAL. From each fund's latest monthly portfolio.
Which is riskier, PGIM India ELSS Tax Saver Fund or PGIM India Small Cap Fund?
On SEBI's riskometer, PGIM India ELSS Tax Saver Fund is rated Very High and PGIM India Small Cap Fund Very High. Over 3 years, the standard deviation of daily returns was 13.17% and 15.58% a year.
Which is better for SIP, PGIM India ELSS Tax Saver Fund or PGIM India Small Cap Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,34,864 in PGIM India ELSS Tax Saver Fund (XIRR 7.3% a year) and ₹8,37,330 in PGIM India Small Cap Fund (XIRR 12.4% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both PGIM India ELSS Tax Saver Fund and PGIM India Small Cap Fund?
Yes. 28.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages PGIM India ELSS Tax Saver Fund and PGIM India Small Cap Fund?
PGIM India ELSS Tax Saver Fund: Utsav Mehta, Vinay Paharia, and Mr. Akhil Dhar. PGIM India Small Cap Fund: Utsav Mehta, Vivek Sharma, Vinay Paharia, Puneet Pal.
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.