Union ELSS Tax Saver Fund Fund vs Union Value Fund
Direct Plan, Growth option · Data as on 30-10-2026
Union ELSS Tax Saver Fund Fund is an ELSS fund and Union Value Fund is a Value and Contra fund. In the 3 years to 30-10-2026, Union ELSS Tax Saver Fund Fund (Direct) returned 9.6% a year and Union Value Fund (Direct) returned 10.9% a year. Union ELSS Tax Saver Fund Fund charges 1.71% a year and Union Value Fund 1.51% (Direct plans). Their portfolios overlap 54.2%: they hold 41 of the same securities.
Union ELSS Tax Saver Fund Fund
ELSS
- 3 year return
- 9.6%
- Expense ratio
- 1.71%
- NAV
- ₹68.15
Which is better, Union ELSS Tax Saver Fund or Union Value? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Union Value returned more over 5 years: 10.8% a year against 8.9%.
- Union Value returned more over 3 years: 10.9% a year against 9.6%.
- Union Value costs less: 1.51% a year against 1.71% (Direct plans).
- Union ELSS Tax Saver Fund swung less over 3 years: a standard deviation of 14.1% a year against 14.7%.
- Union ELSS Tax Saver Fund fell less in its worst fall since 12-12-2018: −35.4% against −37.7%.
- Union ELSS Tax Saver Fund is the larger fund: ₹821 Cr against ₹378 Cr.
- Their portfolios overlap 54.2%: 41 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 | Union ELSS Tax Saver Fund Fund | Union Value Fund |
|---|---|---|
| Fund house | Union Mutual Fund | Union Mutual Fund |
| Category | ELSS | Value and Contra |
| AUM | ₹821 Cr (30-09-2026) | ₹378 Cr (30-09-2026) |
| NAV | ₹68.15 (Direct) | ₹28.96 (Direct) |
| Expense ratio (Direct) | 1.71% | 1.51% |
| Expense ratio (Regular) | 2.55% | 2.56% |
| Riskometer | Very High | Very High |
| Benchmark | BSE 500 TRI | BSE 500 TRI |
| Launch date | 23-12-2011 | 05-12-2018 |
| Minimum investment | ₹500 | ₹1,000 |
| Lock in | 3 years | None |
| Fund managers | Vinod Malviya, Sanjay Bembalkar | Vinod Malviya, Gaurav Chopra |
| Exit load | Nil | Exit load of 1%, if redeemed within 15 days. |
Union ELSS Tax Saver Fund vs Union Value: 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 |
|---|---|---|---|---|---|---|---|
| Union ELSS Tax Saver Fund Fund (Direct) | −1.94% | −4.87% | −0.94% | −6.57% | +9.64% | +8.90% | +12.34% |
| Union Value Fund (Direct) | −2.10% | −6.46% | −3.53% | −6.91% | +10.89% | +10.75% | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Value and Contra average | −2.09% | −5.76% | −3.23% | −5.72% | +11.83% | +11.08% | -- |
Category average: the average of the 50 ELSS funds and the 30 Value and Contra funds, same plan type.
Union ELSS Tax Saver Fund vs Union Value: Year-wise Returns
| Year | ELSS Tax Saver FundUnion ELSS Tax Saver Fund | ValueUnion Value | BSE 500 TRI |
|---|---|---|---|
| 2026to date | −5.75% | −6.82% | −7.81% |
| 2025 | +5.29% | +7.95% | +7.63% |
| 2024 | +17.95% | +17.94% | +15.81% |
| 2023 | +27.50% | +34.56% | +26.55% |
| 2022 | +2.42% | +5.90% | +4.77% |
| 2021 | +36.65% | +33.20% | +31.63% |
Union ELSS Tax Saver Fund vs Union Value: Rolling Returns
Every holding period of both funds, against BSE 500 TRI, the benchmark of both
Rolling returns
Every 3-year holding period, 1,203 of them, one for each trading day from 13-12-2021 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.
Union ELSS Tax Saver Fund Fund (Direct)
Union Value Fund (Direct)
BSE 500 TRI
to
May 2022Mar 2020
to
Mar 2023Dec 2020
to
Dec 2023Oct 2021
to
Oct 2024Aug 2022
to
Aug 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Union ELSS Tax Saver Fund | 0.0 | 0.0 | 1.9 | 16.8 | 41.1 | 31.0 | 9.1 | 18.8% | 19.0% | 8.6% | 34.2% | 79% |
| Union Value | 0.0 | 0.0 | 0.0 | 9.3 | 43.6 | 35.3 | 11.7 | 20.2% | 19.8% | 10.2% | 35.3% | 88% |
| BSE 500 TRI | 0.0 | 0.0 | 2.0 | 20.2 | 50.8 | 19.7 | 7.3 | 18.0% | 17.8% | 8.4% | 33.9% | -- |
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 BSE 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 12-12-2018. Past returns do not promise future returns.
Union ELSS Tax Saver Fund vs Union Value: 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 03-12-2018 to 30-10-2026: 95 instalments, ₹9,50,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Union ELSS Tax Saver FundUnion ELSS Tax Saver Fund Fund (Direct) | ₹9,50,000 | ₹15,96,189 | ₹6,46,189 | 12.8% |
| Union ValueUnion Value Fund (Direct) | ₹9,50,000 | ₹16,66,329 | ₹7,16,329 | 13.9% |
Union ELSS Tax Saver FundUnion ELSS Tax Saver Fund Fund (Direct)
Union ValueUnion Value 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.
Union ELSS Tax Saver Fund vs Union Value: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Union ELSS Tax Saver Fund Fund (Direct) | Union Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | −6.57% | −6.91% |
| Standard deviation | 14.85% | 14.74% |
| Sharpe ratio | -0.80 | -0.82 |
| Sortino ratio | -1.05 | -1.10 |
| Maximum drawdown | −14.0% (30-03-2026) | −12.8% (31-03-2026) |
| Beta | 1.01 | 1.01 |
| Alpha | +1.27% | +0.85% |
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 | Union ELSS Tax Saver Fund Fund (Direct) | Union Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.64% | +10.89% |
| Standard deviation | 14.09% | 14.66% |
| Sharpe ratio | 0.26 | 0.33 |
| Sortino ratio | 0.34 | 0.44 |
| Maximum drawdown | −18.3% (28-02-2025) | −17.9% (03-03-2025) |
| Beta | 0.97 | 1.00 |
| Alpha | −0.15% | +0.98% |
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 | Union ELSS Tax Saver Fund Fund (Direct) | Union Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.90% | +10.75% |
| Standard deviation | 13.88% | 14.39% |
| Sharpe ratio | 0.22 | 0.34 |
| Sortino ratio | 0.30 | 0.46 |
| Maximum drawdown | −18.3% (28-02-2025) | −17.9% (03-03-2025) |
| Beta | 0.95 | 0.98 |
| Alpha | +0.39% | +2.16% |
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 | Union ELSS Tax Saver Fund Fund (Direct) | Union Value Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.58% | +14.30% |
| Standard deviation | 15.09% | 16.90% |
| Sharpe ratio | 0.43 | 0.54 |
| Sortino ratio | 0.58 | 0.72 |
| Maximum drawdown | −35.4% (23-03-2020) | −37.7% (23-03-2020) |
| Beta | 0.93 | 0.97 |
| Alpha | +0.21% | +1.44% |
From daily NAVs, 02-01-2013 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.
Union ELSS Tax Saver Fund Fund (Direct)
Union Value Fund (Direct)
BSE 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Union ELSS Tax Saver Fund Fund (Direct) | −35.4% | 19-02-2020 | 23-03-2020 | 16-09-2020 | 6 months | −7.3% |
| Union Value Fund (Direct) | −37.7% | 17-01-2020 | 23-03-2020 | 05-11-2020 | 7 months | −8.5% |
| BSE 500 TRI | −38.1% | 17-01-2020 | 23-03-2020 | 06-11-2020 | 7 months | −9.4% |
From daily values since 12-12-2018, 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.
Union ELSS Tax Saver Fund Fund (Direct)
Union Value Fund (Direct)
BSE 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.
Union ELSS Tax Saver Fund Fund (Direct)
Union Value Fund (Direct)
BSE 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.
Union ELSS Tax Saver Fund Fund (Direct)
Union Value Fund (Direct)
BSE 500 TRI
Against BSE 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Union ELSS Tax Saver Fund Fund (Direct) | 96% | 86% | 3.57% |
| Union Value Fund (Direct) | 100% | 93% | 3.90% |
From month-end values since 12-12-2018. 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.
Union ELSS Tax Saver Fund vs Union Value: Portfolio Overlap
From each fund's latest monthly portfolio: Union ELSS Tax Saver Fund Fund, September 2026; Union Value Fund, September 2026
Holdings in common
- Overlap
- 54.2%
- Held by both
- 41
- Only in Union ELSS Tax Saver Fund
- 42
- Only in Union Value
- 30
| Security | % of Union ELSS Tax Saver Fund | % of Union Value |
|---|---|---|
| ICICI Bank Ltd. | 7.17% | 6.44% |
| HDFC Bank Ltd. | 4.92% | 4.12% |
| Axis Bank Ltd. | 3.18% | 3.21% |
| Bharti Airtel Ltd. | 3.08% | 2.98% |
| Reliance Industries Ltd. | 2.46% | 3.75% |
| Larsen & Toubro Ltd. | 2.10% | 2.16% |
| Gabriel India Ltd. | 1.98% | 2.02% |
| State Bank of India | 1.85% | 2.93% |
| Jindal Steel Ltd. | 1.81% | 1.92% |
| Shriram Finance Ltd. | 1.80% | 2.73% |
| Ajanta Pharma Ltd. | 1.68% | 1.64% |
| Maruti Suzuki India Ltd. | 1.53% | 2.00% |
| Ujjivan Small Finance Bank Ltd. | 1.50% | 1.64% |
| The Phoenix Mills Ltd. | 1.42% | 1.66% |
| Tech Mahindra Ltd. | 1.38% | 2.19% |
| Balrampur Chini Mills Ltd. | 1.33% | 1.23% |
| Aarti Industries Ltd. | 1.20% | 1.30% |
| Max Financial Services Ltd. | 1.17% | 1.11% |
| RBL Bank Ltd. | 1.11% | 1.60% |
| Engineers India Ltd. | 1.02% | 1.35% |
| The Federal Bank Ltd. | 0.95% | 1.21% |
| Torrent Pharmaceuticals Ltd. | 0.94% | 1.40% |
| Interglobe Aviation Ltd. | 1.00% | 0.92% |
| Mphasis Ltd. | 0.83% | 1.27% |
| LTM Ltd. | 0.81% | 0.80% |
| Inventurus Knowledge Solutions Ltd. | 0.80% | 0.74% |
| Tata Consultancy Services Ltd. | 0.73% | 0.98% |
| Infosys Ltd. | 0.72% | 0.95% |
| Gokaldas Exports Ltd. | 0.75% | 0.71% |
| Info Edge (India) Ltd. | 0.70% | 1.49% |
| Sun Pharmaceutical Industries Ltd. | 0.66% | 1.13% |
| Zydus Lifesciences Ltd. | 0.64% | 0.69% |
| Cemindia Projects Ltd. | 0.59% | 0.56% |
| Bharat Heavy Electricals Ltd. | 1.39% | 0.55% |
| Tata Motors Ltd. | 0.50% | 1.12% |
| ITC Ltd. | 0.51% | 0.49% |
| Tata Steel Ltd. | 0.47% | 0.83% |
| Prestige Estates Projects Ltd. | 0.28% | 0.27% |
| Bharat Electronics Ltd. | 0.12% | 1.20% |
| 91 Day Treasury Bills | 0.03% | 0.03% |
| 91 Day Treasury Bills | 0.03% | 0.05% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 54.2% means 54.2% 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 Union ELSS Tax Saver Fund Fund
| Security | % of fund |
|---|---|
| JSW Infrastructure Ltd. | 2.08% |
| Eternal Ltd. | 2.05% |
| One 97 Communications Ltd. | 1.97% |
| Solar Industries India Ltd. | 1.79% |
| CG Power and Industrial Solutions Ltd. | 1.78% |
Largest holdings only in Union Value Fund
| Security | % of fund |
|---|---|
| NTPC Ltd. | 2.21% |
| Nippon Life India Asset Management Ltd. | 1.67% |
| Kirloskar Oil Engines Ltd. | 1.62% |
| Power Mech Projects Ltd. | 1.51% |
| V-Mart Retail Ltd. | 1.47% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Union ELSS Tax Saver Fund | Union Value |
|---|---|---|
| Equity | 98.9% | 96.3% |
| Debt | 0.1% | 0.1% |
| Cash and others | 1.0% | 3.6% |
Market cap of stocks
| Market cap | Union ELSS Tax Saver Fund | Union Value |
|---|---|---|
| Large Cap | 54.5% | 55.5% |
| Mid Cap | 22.4% | 14.6% |
| Small Cap | 21.5% | 25.4% |
| Not on AMFI's list | 0.5% | 0.8% |
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 | Union ELSS Tax Saver Fund | Union Value |
|---|---|---|
| Banks | 21.8% | 21.1% |
| IT - Software | 5.0% | 6.9% |
| Auto Components | 6.6% | 4.1% |
| Pharmaceuticals & Biotechnology | 6.4% | 5.6% |
| Construction | 3.7% | 5.6% |
| Chemicals & Petrochemicals | 5.0% | 1.3% |
| Petroleum Products | 2.5% | 4.5% |
| Electrical Equipment | 4.4% | 1.7% |
The six largest sectors of each fund's stocks, % of the fund.
Union ELSS Tax Saver Fund vs Union Value: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Union ELSS Tax Saver Fund Fund | Union Value Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.71% | 1.51% |
| Base expense ratio (Direct) | 1.23% | 1.08% |
| Total expense ratio (Regular) | 2.55% | 2.56% |
| Base expense ratio (Regular) | 2.00% | 2.10% |
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 Union ELSS Tax Saver Fund with
Union ELSS Tax Saver Fund Fund vs Union Value Fund: Frequently Asked Questions
What is the difference between Union ELSS Tax Saver Fund Fund and Union Value Fund?
Union ELSS Tax Saver Fund Fund is an ELSS fund, Union Value Fund is a Value and Contra fund, run by Union Mutual Fund. Their portfolios overlap 54.2%. Union ELSS Tax Saver Fund Fund charges 1.71% a year and Union Value Fund 1.51%.
Which has given higher returns, Union ELSS Tax Saver Fund Fund or Union Value Fund?
Over 1 year: Union ELSS Tax Saver Fund Fund −6.57%, Union Value Fund −6.91%. Over 3 years: Union ELSS Tax Saver Fund Fund +9.64% a year, Union Value Fund +10.89% a year. Over 5 years: Union ELSS Tax Saver Fund Fund +8.90% a year, Union Value Fund +10.75% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Union ELSS Tax Saver Fund Fund or Union Value Fund?
Union Value Fund charges less: 1.51% a year against 1.71%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Union ELSS Tax Saver Fund Fund and Union Value Fund overlap?
54.2%. They hold 41 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, AXISBANK. From each fund's latest monthly portfolio.
Which is riskier, Union ELSS Tax Saver Fund Fund or Union Value Fund?
On SEBI's riskometer, Union ELSS Tax Saver Fund Fund is rated Very High and Union Value Fund Very High. Over 3 years, the standard deviation of daily returns was 14.09% and 14.66% a year.
Which is better for SIP, Union ELSS Tax Saver Fund Fund or Union Value Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,46,147 in Union ELSS Tax Saver Fund Fund (XIRR 7.9% a year) and ₹7,73,448 in Union Value Fund (XIRR 9.3% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both Union ELSS Tax Saver Fund Fund and Union Value Fund?
Yes. 54.2% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Union ELSS Tax Saver Fund Fund and Union Value Fund?
Union ELSS Tax Saver Fund Fund: Vinod Malviya, Sanjay Bembalkar. Union Value Fund: Vinod Malviya, Gaurav Chopra.
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.