UTI ELSS Tax Saver Fund vs UTI Multi Cap Fund
Direct Plan, Growth option · Data as on 30-10-2026
UTI ELSS Tax Saver Fund is an ELSS fund and UTI Multi Cap Fund is a Multi Cap fund. In the year to 30-10-2026, UTI ELSS Tax Saver Fund (Direct) returned −9.1% and UTI Multi Cap Fund (Direct) returned −4.6%. UTI ELSS Tax Saver Fund charges 1.19% a year and UTI Multi Cap Fund 1.10% (Direct plans). Their portfolios overlap 32.4%: they hold 18 of the same securities.
UTI ELSS Tax Saver Fund
ELSS
- 1 year return
- −9.1%
- Expense ratio
- 1.19%
- NAV
- ₹214.73
Which is better, UTI ELSS Tax Saver or UTI Multi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- UTI Multi Cap returned more over 1 year: −4.6% against −9.1%.
- UTI Multi Cap costs less: 1.10% a year against 1.19% (Direct plans).
- UTI Multi Cap fell less in its worst fall since 20-05-2025: −14.1% against −15.2%.
- UTI ELSS Tax Saver holds more in large companies: 67.9% of the fund in large caps against 37.7%.
- UTI ELSS Tax Saver is the larger fund: ₹3,253 Cr against ₹2,113 Cr.
- Their portfolios overlap 32.4%: 18 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 | UTI ELSS Tax Saver Fund | UTI Multi Cap Fund |
|---|---|---|
| Fund house | UTI Mutual Fund | UTI Mutual Fund |
| Category | ELSS | Multi Cap |
| AUM | ₹3,253 Cr (30-09-2026) | ₹2,113 Cr (30-09-2026) |
| NAV | ₹214.73 (Direct) | ₹10.21 (Direct) |
| Expense ratio (Direct) | 1.19% | 1.10% |
| Expense ratio (Regular) | 1.96% | 2.26% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 15-12-1999 | 16-05-2025 |
| Minimum investment | Regular Plan-Growth- Rs.500, Regular Plan-Payout of IDCW- Rs.500, Direct Plan-Growth- Rs.500, Direct Plan-Payout of IDCW- Rs.500, | Direct Plan - Growth Option (Rs 1000)Regular Plan -Growth Option (Rs 1000) |
| Lock in | 3 years | None |
| Fund managers | Amit Premchandani FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4 | Karthikraj Lakshmanan |
| Exit load | Nil | 1% if redeemed/ switched-out within 90 days from the date of allotment; Nil thereafter |
UTI ELSS Tax Saver vs UTI Multi 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 |
|---|---|---|---|---|---|---|---|
| UTI ELSS Tax Saver Fund (Direct) | −0.44% | −6.30% | −2.70% | −9.13% | +7.90% | +6.27% | +11.37% |
| UTI Multi Cap Fund (Direct) | −3.12% | −5.19% | +0.15% | −4.61% | -- | -- | -- |
| ELSS average | −2.34% | −5.61% | −1.63% | −5.75% | +10.92% | +10.29% | +13.05% |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | -- | -- | -- |
Category average: the average of the 50 ELSS funds and the 33 Multi Cap funds, same plan type.
UTI ELSS Tax Saver vs UTI Multi Cap: Year-wise Returns
| Year | ELSS Tax SaverUTI ELSS Tax Saver | Multi CapUTI Multi Cap |
|---|---|---|
| 2026to date | −9.30% | −5.07% |
| 2025 | +5.57% | -- |
| 2024 | +15.08% | -- |
| 2023 | +25.54% | -- |
| 2022 | −2.51% | -- |
| 2021 | +34.37% | -- |
UTI ELSS Tax Saver vs UTI Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of UTI ELSS Tax Saver Fund
Rolling returns
Every 1-year holding period, 111 of them, one for each trading day from 20-05-2026 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.
UTI ELSS Tax Saver Fund (Direct)
UTI Multi Cap Fund (Direct)
Nifty 500 TRI
to
Jun 2026Jun 2025
to
Jun 2026Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Oct 2025
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| UTI ELSS Tax Saver | 77.5 | 22.5 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −2.7% | −2.8% | −10.7% | 4.6% | 0% |
| UTI Multi Cap | 15.3 | 57.7 | 27.0 | 0.0 | 0.0 | 0.0 | 0.0 | 2.8% | 2.4% | −5.9% | 8.8% | 100% |
| Nifty 500 TRI | 45.0 | 45.9 | 9.0 | 0.0 | 0.0 | 0.0 | 0.0 | −0.0% | 0.2% | −9.0% | 6.8% | -- |
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 20-05-2025. Past returns do not promise future returns.
UTI ELSS Tax Saver vs UTI Multi 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 02-05-2025 to 30-10-2026: 18 instalments, ₹1,80,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| UTI ELSS Tax SaverUTI ELSS Tax Saver Fund (Direct) | ₹1,80,000 | ₹1,70,991 | −₹9,009 | −6.4% |
| UTI Multi CapUTI Multi Cap Fund (Direct) | ₹1,80,000 | ₹1,77,702 | −₹2,298 | −1.6% |
UTI ELSS Tax SaverUTI ELSS Tax Saver Fund (Direct)
UTI Multi CapUTI Multi 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.
UTI ELSS Tax Saver vs UTI Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | UTI ELSS Tax Saver Fund (Direct) | UTI Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | −9.13% | −4.61% |
| Standard deviation | 13.48% | 13.06% |
| Sharpe ratio | -1.07 | -0.75 |
| Sortino ratio | -1.42 | -1.00 |
| Maximum drawdown | −15.2% (31-03-2026) | −14.1% (30-03-2026) |
| Beta | 0.92 | 0.85 |
| Alpha | −2.82% | −0.26% |
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 | UTI ELSS Tax Saver Fund (Direct) | UTI Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +12.44% | +1.70% |
| Standard deviation | 14.96% | 11.83% |
| Sharpe ratio | 0.43 | -0.31 |
| Sortino ratio | 0.57 | -0.41 |
| Maximum drawdown | −35.1% (23-03-2020) | −14.1% (30-03-2026) |
| Beta | 0.92 | 0.85 |
| Alpha | +0.16% | +0.82% |
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.
UTI ELSS Tax Saver Fund (Direct)
UTI Multi 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 |
|---|---|---|---|---|---|---|
| UTI ELSS Tax Saver Fund (Direct) | −15.2% | 02-01-2026 | 31-03-2026 | Not yet | -- | −10.2% |
| UTI Multi Cap Fund (Direct) | −14.1% | 05-01-2026 | 30-03-2026 | 03-08-2026 | 4 months | −7.3% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 20-05-2025, 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.
UTI ELSS Tax Saver Fund (Direct)
UTI Multi Cap Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| UTI ELSS Tax Saver Fund (Direct) | 89% | 101% | 2.09% |
| UTI Multi Cap Fund (Direct) | 106% | 89% | 3.71% |
From month-end values since 20-05-2025. 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.
UTI ELSS Tax Saver vs UTI Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: UTI ELSS Tax Saver Fund, September 2026; UTI Multi Cap Fund, September 2026
Holdings in common
- Overlap
- 32.4%
- Held by both
- 18
- Only in UTI ELSS Tax Saver
- 42
- Only in UTI Multi Cap
- 53
| Security | % of UTI ELSS Tax Saver | % of UTI Multi Cap |
|---|---|---|
| EQ - ICICI BANK LTD | 7.11% | 5.00% |
| EQ - HDFC BANK LIMITED | 8.11% | 4.70% |
| EQ - KOTAK MAHINDRA BANK LTD. | 4.49% | 4.34% |
| EQ - AXIS BANK LTD. | 3.70% | 2.61% |
| EQ - RELIANCE INDUSTRIES LTD. | 2.74% | 1.91% |
| EQ - BHARTI AIRTEL LTD. | 4.32% | 1.87% |
| EQ - INFO-EDGE (INDIA) LTD. | 1.78% | 1.50% |
| EQ - AJANTA PHARMA LTD. | 2.07% | 1.26% |
| EQ - JUBILANT FOODWORKS LTD. | 1.54% | 1.17% |
| EQ - POWER GRID CORPORATION OF INDI | 1.08% | 1.23% |
| EQ - BAJAJ FINANCE LTD. | 2.95% | 1.05% |
| EQ - AIA ENGINEERING LTD. | 0.97% | 1.03% |
| EQ - COAL INDIA LTD. | 1.18% | 0.96% |
| EQ - MARUTI SUZUKI INDIA LTD. | 1.84% | 0.92% |
| EQ - ADANI ENTERPRISES LTD. | 1.05% | 0.82% |
| EQ - JK PAPER LTD. | 0.79% | 1.08% |
| EQ - SWIGGY LTD | 0.77% | 2.45% |
| EQ - TUBE INVESTMENTS OF INDIA LTD | 1.23% | 0.67% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 32.4% means 32.4% 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 UTI ELSS Tax Saver Fund
| Security | % of fund |
|---|---|
| EQ - MAHINDRA & MAHINDRA LTD. | 2.49% |
| EQ - INFOSYS LTD. | 2.44% |
| EQ - STATE BANK OF INDIA | 2.36% |
| EQ - TATA STEEL LTD. | 2.21% |
| EQ - TECH MAHINDRA LTD. | 2.08% |
Largest holdings only in UTI Multi Cap Fund
| Security | % of fund |
|---|---|
| EQ - VOLTAMP TRANSFORMERS LTD. | 2.24% |
| EQ - OIL INDIA LTD. | 2.12% |
| EQ - COFORGE LTD | 1.90% |
| EQ - GULF OIL LUBRICANTS INDIA LTD | 1.81% |
| EQ - LARSEN & TOUBRO LTD. | 1.78% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | UTI ELSS Tax Saver | UTI Multi Cap |
|---|---|---|
| Equity | 99.0% | 92.7% |
| Debt | 0.0% | 0.5% |
| Cash and others | 1.0% | 6.8% |
Market cap of stocks
| Market cap | UTI ELSS Tax Saver | UTI Multi Cap |
|---|---|---|
| Large Cap | 67.9% | 37.7% |
| Mid Cap | 19.0% | 25.2% |
| Small Cap | 12.1% | 27.8% |
| Not on AMFI's list | 0.0% | 2.0% |
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 | UTI ELSS Tax Saver | UTI Multi Cap |
|---|---|---|
| Banks | 26.4% | 18.4% |
| IT - Software | 7.3% | 3.2% |
| Retailing | 6.5% | 5.0% |
| Automobiles | 5.7% | 1.7% |
| Finance | 4.3% | 5.5% |
| Pharmaceuticals & Biotechnology | 4.3% | 5.1% |
| Telecom - Services | 4.3% | 3.6% |
| Consumer Durables | 4.2% | 3.9% |
| Electrical Equipment | 0.0% | 3.8% |
The six largest sectors of each fund's stocks, % of the fund.
UTI ELSS Tax Saver vs UTI Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | UTI ELSS Tax Saver Fund | UTI Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.19% | 1.10% |
| Base expense ratio (Direct) | 0.95% | 0.69% |
| Total expense ratio (Regular) | 1.96% | 2.26% |
| Base expense ratio (Regular) | 1.66% | 1.76% |
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 UTI ELSS Tax Saver with
UTI ELSS Tax Saver Fund vs UTI Multi Cap Fund: Frequently Asked Questions
What is the difference between UTI ELSS Tax Saver Fund and UTI Multi Cap Fund?
UTI ELSS Tax Saver Fund is an ELSS fund, UTI Multi Cap Fund is a Multi Cap fund, run by UTI Mutual Fund. Their portfolios overlap 32.4%. UTI ELSS Tax Saver Fund charges 1.19% a year and UTI Multi Cap Fund 1.10%.
Which has given higher returns, UTI ELSS Tax Saver Fund or UTI Multi Cap Fund?
Over 1 year: UTI ELSS Tax Saver Fund −9.13%, UTI Multi Cap Fund −4.61%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, UTI ELSS Tax Saver Fund or UTI Multi Cap Fund?
UTI Multi Cap Fund charges less: 1.10% a year against 1.19%. These are the Direct plans' total expense ratios reported to AMFI.
How much do UTI ELSS Tax Saver Fund and UTI Multi Cap Fund overlap?
32.4%. They hold 18 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, KOTAKBANK. From each fund's latest monthly portfolio.
Which is riskier, UTI ELSS Tax Saver Fund or UTI Multi Cap Fund?
On SEBI's riskometer, UTI ELSS Tax Saver Fund is rated Very High and UTI Multi Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 13.48% and 13.06% a year.
Can I invest in both UTI ELSS Tax Saver Fund and UTI Multi Cap Fund?
Yes. 32.4% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages UTI ELSS Tax Saver Fund and UTI Multi Cap Fund?
UTI ELSS Tax Saver Fund: Amit Premchandani FM 1, Not Applicable FM 2, Not Applicable FM 3, Not Applicable FM 4. UTI Multi Cap Fund: Karthikraj Lakshmanan.
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.