Shriram ELSS Tax Saver Fund vs Shriram Multi Asset Allocation Fund
Direct Plan, Growth option · Data as on 30-10-2026
Shriram ELSS Tax Saver Fund is an ELSS fund and Shriram Multi Asset Allocation Fund is a Multi Asset fund. In the 3 years to 30-10-2026, Shriram ELSS Tax Saver Fund (Direct) returned 6.9% a year and Shriram Multi Asset Allocation Fund (Direct) returned 10.1% a year. Shriram ELSS Tax Saver Fund charges 0.95% a year and Shriram Multi Asset Allocation Fund 0.62% (Direct plans). Their portfolios overlap 53.1%: they hold 54 of the same securities.
Shriram ELSS Tax Saver Fund
ELSS
- 3 year return
- 6.9%
- Expense ratio
- 0.95%
- NAV
- ₹22.48
Shriram Multi Asset Allocation Fund
Multi Asset
- 3 year return
- 10.1%
- Expense ratio
- 0.62%
- NAV
- ₹13.29
Which is better, Shriram ELSS Tax Saver or Shriram Multi Asset Allocation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Shriram Multi Asset Allocation returned more over 3 years: 10.1% a year against 6.9%.
- Shriram Multi Asset Allocation returned more over 1 year: 0.0% against −7.5%.
- Shriram Multi Asset Allocation costs less: 0.62% a year against 0.95% (Direct plans).
- Shriram Multi Asset Allocation swung less over 3 years: a standard deviation of 11.9% a year against 15.4%.
- Shriram Multi Asset Allocation fell less in its worst fall since 15-09-2023: −15.3% against −23.5%.
- Shriram Multi Asset Allocation is the larger fund: ₹140 Cr against ₹44 Cr.
- Their portfolios overlap 53.1%: 54 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 | Shriram ELSS Tax Saver Fund | Shriram Multi Asset Allocation Fund |
|---|---|---|
| Fund house | Shriram Mutual Fund | Shriram Mutual Fund |
| Category | ELSS | Multi Asset |
| AUM | ₹44 Cr (30-09-2026) | ₹140 Cr (30-09-2026) |
| NAV | ₹22.48 (Direct) | ₹13.29 (Direct) |
| Expense ratio (Direct) | 0.95% | 0.62% |
| Expense ratio (Regular) | 2.57% | 2.48% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | Nifty 50 TRI 70% + NIFTY Short Duration Debt Index 20% + Domestic prices of Gold 8% + Domestic prices of Silver 2% |
| Launch date | 25-01-2019 | 08-09-2023 |
| Minimum investment | ₹500 | ₹500 |
| Lock in | 3 years | None |
| Fund managers | Hitesh Savanth, Prateek Nigudkar | Hitesh Savanth, Prateek Nigudkar, Amit Modani |
| Exit load | NIL | Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 90 days. |
Shriram ELSS Tax Saver vs Shriram Multi Asset Allocation: 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 |
|---|---|---|---|---|---|---|---|
| Shriram ELSS Tax Saver Fund (Direct) | −0.33% | −6.48% | −1.70% | −7.49% | +6.94% | +6.10% | -- |
| Shriram Multi Asset Allocation Fund (Direct) | −1.21% | −4.16% | −2.47% | +0.01% | +10.13% | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | -- | -- |
Category average: the average of the 50 ELSS funds and the 37 Multi Asset funds, same plan type.
Shriram ELSS Tax Saver vs Shriram Multi Asset Allocation: Year-wise Returns
| Year | ELSS Tax SaverShriram ELSS Tax Saver | Multi Asset AllocationShriram Multi Asset Allocation |
|---|---|---|
| 2026to date | −7.74% | −3.87% |
| 2025 | −4.18% | +10.12% |
| 2024 | +18.73% | +10.91% |
| 2023 | +26.68% | -- |
| 2022 | +3.96% | -- |
| 2021 | +20.99% | -- |
Shriram ELSS Tax Saver vs Shriram Multi Asset Allocation: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of Shriram ELSS Tax Saver Fund
Rolling returns
Every 3-year holding period, 30 of them, one for each trading day from 15-09-2026 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.
Shriram ELSS Tax Saver Fund (Direct)
Shriram Multi Asset Allocation Fund (Direct)
Nifty 500 TRI
to
Sept 2026Sept 2023
to
Sept 2026Oct 2023
to
Oct 2026Oct 2023
to
Oct 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shriram ELSS Tax Saver | 0.0 | 0.0 | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.5% | 6.4% | 5.6% | 7.7% | 0% |
| Shriram Multi Asset Allocation | 0.0 | 0.0 | 6.7 | 93.3 | 0.0 | 0.0 | 0.0 | 10.6% | 10.5% | 9.8% | 11.5% | 90% |
| Nifty 500 TRI | 0.0 | 0.0 | 63.3 | 36.7 | 0.0 | 0.0 | 0.0 | 9.8% | 9.6% | 8.8% | 11.0% | -- |
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 15-09-2023. Past returns do not promise future returns.
Shriram ELSS Tax Saver vs Shriram Multi Asset Allocation: 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 01-09-2023 to 30-10-2026: 38 instalments, ₹3,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Shriram ELSS Tax SaverShriram ELSS Tax Saver Fund (Direct) | ₹3,80,000 | ₹3,70,870 | −₹9,130 | −1.5% |
| Shriram Multi Asset AllocationShriram Multi Asset Allocation Fund (Direct) | ₹3,80,000 | ₹4,06,456 | ₹26,456 | 4.2% |
Shriram ELSS Tax SaverShriram ELSS Tax Saver Fund (Direct)
Shriram Multi Asset AllocationShriram Multi Asset Allocation 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.
Shriram ELSS Tax Saver vs Shriram Multi Asset Allocation: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Shriram ELSS Tax Saver Fund (Direct) | Shriram Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −7.49% | +0.01% |
| Standard deviation | 13.51% | 11.83% |
| Sharpe ratio | -0.94 | -0.44 |
| Sortino ratio | -1.26 | -0.59 |
| Maximum drawdown | −14.5% (31-03-2026) | −11.1% (23-03-2026) |
| Beta | 0.93 | -- |
| Alpha | −1.08% | -- |
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 | Shriram ELSS Tax Saver Fund (Direct) | Shriram Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +6.94% | +10.13% |
| Standard deviation | 15.39% | 11.90% |
| Sharpe ratio | 0.06 | 0.34 |
| Sortino ratio | 0.08 | 0.45 |
| Maximum drawdown | −23.5% (28-02-2025) | −15.3% (28-02-2025) |
| Beta | 1.02 | -- |
| Alpha | −3.35% | -- |
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 | Shriram ELSS Tax Saver Fund (Direct) | Shriram Multi Asset Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | +11.01% | +9.43% |
| Standard deviation | 15.95% | 11.74% |
| Sharpe ratio | 0.36 | 0.29 |
| Sortino ratio | 0.48 | 0.38 |
| Maximum drawdown | −29.8% (23-03-2020) | −15.3% (28-02-2025) |
| Beta | 0.90 | -- |
| Alpha | −1.45% | -- |
From daily NAVs, 01-02-2019 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.
Shriram ELSS Tax Saver Fund (Direct)
Shriram Multi Asset Allocation Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Shriram ELSS Tax Saver Fund (Direct) | −23.5% | 15-10-2024 | 28-02-2025 | Not yet | -- | −16.9% |
| Shriram Multi Asset Allocation Fund (Direct) | −15.3% | 15-07-2024 | 28-02-2025 | 17-10-2025 | 8 months | −7.3% |
| Nifty 500 TRI | −18.6% | 26-09-2024 | 28-02-2025 | Not yet | -- | −8.8% |
From daily values since 15-09-2023, 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.
Shriram ELSS Tax Saver Fund (Direct)
Shriram Multi Asset Allocation 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.
Shriram ELSS Tax Saver Fund (Direct)
Shriram Multi Asset Allocation Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Shriram ELSS Tax Saver Fund (Direct) | 95% | 111% | 6.70% |
| Shriram Multi Asset Allocation Fund (Direct) | 74% | 56% | 7.15% |
From month-end values since 15-09-2023. 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.
Shriram ELSS Tax Saver vs Shriram Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: Shriram ELSS Tax Saver Fund, September 2026; Shriram Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 53.1%
- Held by both
- 54
- Only in Shriram ELSS Tax Saver
- 17
- Only in Shriram Multi Asset Allocation
- 32
| Security | % of Shriram ELSS Tax Saver | % of Shriram Multi Asset Allocation |
|---|---|---|
| ICICI Bank Ltd. | 5.02% | 3.94% |
| HDFC Bank Ltd. | 7.47% | 3.93% |
| Reliance Industries Ltd. | 3.90% | 3.88% |
| Bharti Airtel Ltd. | 3.79% | 2.91% |
| State Bank of India | 4.02% | 2.88% |
| Axis Bank Ltd. | 4.06% | 2.61% |
| Mahindra & Mahindra Ltd. | 2.03% | 2.13% |
| SBI Life Insurance Company Ltd. | 1.46% | 1.73% |
| ITC Ltd. | 1.65% | 1.34% |
| Eternal Ltd. | 1.85% | 1.30% |
| Tata Consultancy Services Ltd. | 1.48% | 1.26% |
| Infosys Ltd. | 1.80% | 1.24% |
| Larsen & Toubro Ltd. | 1.46% | 1.19% |
| InterGlobe Aviation Ltd. | 1.89% | 1.18% |
| NTPC Ltd. | 1.91% | 1.10% |
| Sun Pharmaceutical Industries Ltd. | 1.07% | 2.26% |
| TVS Motor Company Ltd. | 1.22% | 1.02% |
| Maruti Suzuki India Ltd. | 1.29% | 0.99% |
| Tata Steel Ltd. | 1.28% | 0.95% |
| HCL Technologies Ltd. | 0.86% | 1.23% |
| Adani Ports & Special Economic Zone Ltd. | 1.54% | 0.81% |
| Kalpataru Projects International Ltd. | 0.82% | 0.80% |
| R R Kabel Ltd. | 1.75% | 0.78% |
| Canara Robeco Asset Mgmt Co Ltd. | 1.24% | 0.78% |
| Rainbow Children's Medicare Ltd. | 0.92% | 0.76% |
| Divi's Laboratories Ltd. | 0.75% | 0.97% |
| Kirloskar Oil Engines Ltd. | 1.92% | 0.74% |
| Deepak Fertilizers & Petrochem Corp Ltd. | 0.72% | 0.72% |
| Samhi Hotels Ltd. | 1.96% | 0.71% |
| Oil India Ltd. | 1.31% | 0.68% |
| Marico Ltd. | 1.12% | 0.60% |
| Dodla Dairy Ltd. | 1.21% | 0.58% |
| Ajanta Pharma Ltd. | 1.07% | 0.58% |
| VARUN BEVERAGES LIMITED | 0.57% | 1.27% |
| Coal India Ltd. | 0.53% | 0.86% |
| Oil & Natural Gas Corporation Ltd. | 0.81% | 0.46% |
| REC Ltd. | 0.81% | 0.45% |
| Emami Ltd. | 0.50% | 0.45% |
| Bharat Electronics Ltd. | 1.78% | 0.40% |
| Sagility Ltd. | 1.30% | 0.40% |
| Eris Lifesciences Ltd. | 0.67% | 0.37% |
| Bharat Petroleum Corporation Ltd. | 0.37% | 0.53% |
| Power Grid Corporation of India Ltd. | 0.86% | 0.34% |
| TIPS Music Ltd. | 0.69% | 0.34% |
| Narayana Hrudayalaya ltd. | 0.37% | 0.32% |
| Swiggy Ltd. | 0.62% | 0.28% |
| GMR Airports Ltd. | 0.92% | 0.26% |
| Cipla Ltd. | 0.25% | 0.63% |
| Apollo Hospitals Enterprise Ltd. | 1.34% | 0.20% |
| PB Fintech Ltd. | 0.24% | 0.19% |
| Cohance Lifesciences Ltd. | 0.18% | 0.26% |
| Power Mech Projects Ltd. | 0.67% | 0.16% |
| Krsnaa Diagnostics Ltd. | 0.17% | 0.11% |
| KFIN Technologies Ltd. | 2.00% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 53.1% means 53.1% 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 Shriram ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| S.J.S. Enterprises Ltd. | 1.78% |
| Navin Fluorine International Ltd. | 1.40% |
| Karur Vysya Bank Ltd. | 1.28% |
| Bajaj Holdings & Investment Ltd. | 1.12% |
| Thyrocare Technologies Ltd. | 1.07% |
Largest holdings only in Shriram Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| NIPPON INDIA ETF GOLD BEES | 12.24% |
| UNION BANK OF INDIA CD RED 22-02-2027 | 7.68% |
| BANK OF BARODA CD RED 12-02-27 | 6.99% |
| NIPPON IND MUT FD-NIPPON IND SILVER ETF | 2.18% |
| Bajaj Finance Ltd. | 2.02% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Shriram ELSS Tax Saver | Shriram Multi Asset Allocation |
|---|---|---|
| Equity | 95.0% | 69.7% |
| Debt | 0.0% | 15.5% |
| Cash and others | 5.0% | 14.8% |
Market cap of stocks
| Market cap | Shriram ELSS Tax Saver | Shriram Multi Asset Allocation |
|---|---|---|
| Large Cap | 61.9% | 53.3% |
| Mid Cap | 9.1% | 5.2% |
| Small Cap | 24.1% | 11.0% |
| Not on AMFI's list | 0.0% | 0.3% |
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 | Shriram ELSS Tax Saver | Shriram Multi Asset Allocation |
|---|---|---|
| Banks | 21.9% | 15.5% |
| IT - Software | 6.5% | 3.7% |
| Automobiles | 5.5% | 4.7% |
| Pharmaceuticals & Biotechnology | 4.0% | 5.1% |
| Petroleum Products | 4.3% | 4.4% |
| Healthcare Services | 4.4% | 1.8% |
| Telecom - Services | 3.8% | 2.9% |
The six largest sectors of each fund's stocks, % of the fund.
Shriram ELSS Tax Saver vs Shriram Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Shriram ELSS Tax Saver Fund | Shriram Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.95% | 0.62% |
| Base expense ratio (Direct) | 0.66% | 0.46% |
| Total expense ratio (Regular) | 2.57% | 2.48% |
| Base expense ratio (Regular) | 2.09% | 2.06% |
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 Shriram ELSS Tax Saver with
Compare Shriram Multi Asset Allocation with
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- Shriram Multi Asset Allocation vs Kotak Multi Asset Allocation
- Shriram Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation
Shriram ELSS Tax Saver Fund vs Shriram Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between Shriram ELSS Tax Saver Fund and Shriram Multi Asset Allocation Fund?
Shriram ELSS Tax Saver Fund is an ELSS fund, Shriram Multi Asset Allocation Fund is a Multi Asset fund, run by Shriram Mutual Fund. Their portfolios overlap 53.1%. Shriram ELSS Tax Saver Fund charges 0.95% a year and Shriram Multi Asset Allocation Fund 0.62%.
Which has given higher returns, Shriram ELSS Tax Saver Fund or Shriram Multi Asset Allocation Fund?
Over 1 year: Shriram ELSS Tax Saver Fund −7.49%, Shriram Multi Asset Allocation Fund +0.01%. Over 3 years: Shriram ELSS Tax Saver Fund +6.94% a year, Shriram Multi Asset Allocation Fund +10.13% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Shriram ELSS Tax Saver Fund or Shriram Multi Asset Allocation Fund?
Shriram Multi Asset Allocation Fund charges less: 0.62% a year against 0.95%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Shriram ELSS Tax Saver Fund and Shriram Multi Asset Allocation Fund overlap?
53.1%. They hold 54 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, RELIANCE. From each fund's latest monthly portfolio.
Which is riskier, Shriram ELSS Tax Saver Fund or Shriram Multi Asset Allocation Fund?
On SEBI's riskometer, Shriram ELSS Tax Saver Fund is rated Very High and Shriram Multi Asset Allocation Fund Very High. Over 3 years, the standard deviation of daily returns was 15.39% and 11.90% a year.
Which is better for SIP, Shriram ELSS Tax Saver Fund or Shriram Multi Asset Allocation Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 03-10-2023 to 30-10-2026 grew to ₹3,58,694 in Shriram ELSS Tax Saver Fund (XIRR -2.0% a year) and ₹3,93,205 in Shriram Multi Asset Allocation Fund (XIRR 3.9% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Shriram ELSS Tax Saver Fund and Shriram Multi Asset Allocation Fund?
Yes. 53.1% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Shriram ELSS Tax Saver Fund and Shriram Multi Asset Allocation Fund?
Shriram ELSS Tax Saver Fund: Hitesh Savanth, Prateek Nigudkar. Shriram Multi Asset Allocation Fund: Hitesh Savanth, Prateek Nigudkar, Amit Modani.
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.