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    Mahindra Manulife ELSS Tax Saver Fund

    ELSSDirect and Regular plans, Growth and IDCW options

    Data as on 30-10-2026

    Mahindra Manulife ELSS Tax Saver Fund is an ELSS fund run by Mahindra Manulife Mutual Fund. On 30-09-2026, it managed ₹829 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 8.2% a year and its Regular plan returned 6.5% a year. Its benchmark, Nifty 500 TRI, returned 10.2% a year over the same 3 years.

    NAV (Direct plan)
    ₹30.98
    ▲ 0.13%30-10-2026
    NAV (Regular plan)
    ₹25.91
    ▲ 0.13%30-10-2026
    Expense ratio
    1.05%Direct2.49%Regular
    Riskometer
    Very High
    Set by the fund house
    3 year return
    8.2%Direct6.5%Regular

    Mahindra Manulife ELSS Tax Saver Fund NAV Today

    NAV on 30-10-2026: Direct Plan Growth ₹30.98 (up 0.13% that day); Regular Plan Growth ₹25.91 (up 0.13% that day).

    Mahindra Manulife ELSS Tax Saver Fund Returns vs Nifty 500 TRI

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Trailing returns
    Period1M3M6M1Y3Y5Y10Y
    This fund (Direct)−0.27%−6.41%−3.55%−9.76%+8.18%+8.23%+11.94%
    This fund (Regular)−0.38%−6.75%−4.26%−11.09%+6.53%+6.51%+9.96%
    Nifty 500 TRI−0.75%−6.05%−2.83%−7.34%+10.22%+8.81%+12.51%
    ELSS average−2.34%−5.61%−1.63%−5.75%+10.92%+10.29%+13.05%
    Best in ELSS+1.27%−1.66%+5.11%+2.97%+19.52%+15.67%+19.15%
    Worst in ELSS−8.36%−10.02%−7.36%−11.32%+2.93%+5.27%+9.91%
    Rank in ELSS12/5033/5039/5046/5043/4935/4319/27

    Category rows compare the Direct plans of 50 ELSS funds. Rank 1 is the highest return.

    Mahindra Manulife ELSS Tax Saver Fund Year-wise Returns

    Return of each calendar year
    YearDirectRegularNifty 500 TRI
    2026to date−10.27%−11.36%−7.51%
    2025+9.22%+7.54%+7.76%
    2024+14.09%+12.29%+16.24%
    2023+27.84%+25.78%+26.91%
    2022+3.80%+2.01%+4.25%
    2021+41.75%+39.44%+31.60%

    Mahindra Manulife ELSS Tax Saver Fund Rolling Returns

    The return of every holding period in the fund's history, not only the one that ends today

    Rolling returns

    Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 1,734 periods, one for each trading day from 22-10-2019 to 30-10-2026.

    −10%0%10%20%30%40%
    May 2017
    to
    May 2020
    Jul 2018
    to
    Jul 2021
    Oct 2019
    to
    Oct 2022
    Dec 2020
    to
    Dec 2023
    Feb 2022
    to
    Feb 2025
    Apr 2023
    to
    Apr 2026
    Mahindra Manulife ELSS Tax Saver Fund (Direct)Nifty 500 TRI

    Every holding period at a glance

    PeriodPeriodsMedianLowestHighestWith a lossBenchmark medianBeat benchmark
    1 year2,2258.5%−29.9%95.0%20%9.8%46%
    2 years1,97914.9%−15.0%56.1%15%14.7%42%
    3 years1,73416.6%−8.4%35.4%7%16.1%58%
    5 years1,24015.9%7.6%29.3%0%15.8%66%
    7 years74615.1%12.6%17.7%0%15.4%56%

    Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty 500 TRI over the same days. Past returns do not promise future returns.

    Mahindra Manulife ELSS Tax Saver Fund Risk

    How much it swings, and the falls an investor had to sit through

    Risk and return

    MeasureMahindra Manulife ELSS Tax Saver Fund (Direct)This fundNifty 500 TRI
    Return (CAGR)+8.18%+10.22%
    Standard deviation13.12%14.30%
    Sharpe ratio0.160.29
    Sortino ratio0.220.40
    Maximum drawdown−16.4% (28-02-2025)−18.6% (28-02-2025)
    Beta0.901.00
    Alpha−1.62%0.00%

    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: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

    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.

    −40%−30%−20%−10%0%
    20172019202120232025
    Mahindra Manulife ELSS Tax Saver Fund (Direct)Nifty 500 TRI
    Worst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Mahindra Manulife ELSS Tax Saver Fund (Direct)−35.9%09-01-201823-03-202011-11-20208 months−11.4%
    Nifty 500 TRI−38.1%17-01-202023-03-202006-11-20207 months−8.8%

    From the Direct plan's daily NAV since 19-10-2016, adjusted for unit splits, and Nifty 500 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

    Mahindra Manulife ELSS Tax Saver Fund vs Other ELSS Funds

    The five ELSS funds with the best three year return, and this fund. Direct plans.

    Fund nameRankAUM (Cr)Exp. ratio1Y return3Y return3Y alpha3Y beta3Y Sharpe3Y Sortino
    Motilal Oswal ELSS Tax Saver Fund1/494,8900.97%+0.93%+19.52%+8.70%1.140.700.95Compare
    SBI Long Term Advantage Fund - Series V2/493661.27%−5.06%+18.92%+9.24%0.940.851.18Compare
    JM ELSS - Tax Saver Fund3/492401.34%−1.27%+15.60%+5.41%1.080.600.80Compare
    WhiteOak Capital ELSS Tax Saver Fund4/494810.86%−2.32%+15.53%+5.78%0.960.670.92Compare
    HSBC ELSS Tax saver Fund5/493,9741.22%−3.32%+15.09%+4.39%1.120.550.74Compare
    Mahindra Manulife ELSS Tax Saver Fund43/498291.05%−9.76%+8.18%−1.62%0.900.160.22

    AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

    Mahindra Manulife ELSS Tax Saver Fund Expense Ratio and Costs

    What each plan charges a year, in force from 23-10-2026

    PlanBase expense ratioBrokerageTransaction costsLevies and GSTTotal expense ratioELSS medianCost rank (1 = cheapest)
    Direct0.72%0.07%0.00%0.26%1.05%1.11%20/49
    Regular2.00%0.07%0.00%0.42%2.49%1.96%37/50

    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, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the ELSS funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

    Direct vs Regular: what the gap cost

    Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

    Over the lastRegularDirectDirect earned more by₹1 lakh became (Regular)₹1 lakh became (Direct)
    1 year−11.09%−9.76%1.33%₹88,910₹90,240
    3 years6.53%8.18%1.65% a year₹1,20,897₹1,26,602
    5 years6.51%8.23%1.72% a year₹1,37,073₹1,48,504
    10 years9.96%11.94%1.98% a year₹2,58,433₹3,08,925

    Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

    Mahindra Manulife ELSS Tax Saver Fund SIP Calculator

    What a one-time or monthly investment in this fund would be worth today, from its own NAV history

    Growth of an investment

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 19-10-2016 to 30-10-2026: 121 instalments, ₹12,10,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Direct planMahindra Manulife ELSS Tax Saver Fund (Direct) ₹12,10,000 ₹22,35,192 ₹10,25,192 11.7%
    Regular planMahindra Manulife ELSS Tax Saver Fund (Regular) ₹12,10,000 ₹20,20,169 ₹8,10,169 9.8%
    Nifty 500 TRI ₹12,10,000 ₹22,80,711 ₹10,70,711 12.1%
    Category averageCategory average, 49 ELSS funds ₹12,10,000 ₹24,60,837 ₹12,50,837 13.5%
    ₹0₹10.0 L₹20.0 L₹30.0 L
    20172019202120232025
    Direct planMahindra Manulife ELSS Tax Saver Fund (Direct)Regular planMahindra Manulife ELSS Tax Saver Fund (Regular)Nifty 500 TRICategory averageCategory average, 49 ELSS fundsAmount invested

    From each plan's published NAV (Growth option), the benchmark's TRI and the category average, 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.

    Mahindra Manulife ELSS Tax Saver Fund Asset Allocation

    Asset allocation as on 30-09-2026

    What the fund holds

    94.7%Equity

    AssetFundCategory
    Equity94.7%96.3%
    Cash and others5.3%3.1%

    Market cap of stocks

    Market capFundCategory
    Large Cap68.0%47.5%
    Mid Cap16.4%18.4%
    Small Cap10.2%29.4%

    Share of the whole fund. Category: the average of the ELSS funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

    Mahindra Manulife ELSS Tax Saver Fund Sector Allocation

    Sector allocation of the fund's stocks as on 30-09-2026

    Largest sectors

    1. Banks23.7%

    2. Retailing7.8%

    3. Automobiles7.0%

    4. Pharmaceuticals & Biotechnology7.0%

    5. Finance5.7%

    6. IT - Software5.3%

    7. Telecom - Services5.3%

    8. Consumer Durables4.6%

    9. Petroleum Products3.1%

    10. Construction3.0%

    The ten largest of 25 sectors. The other 15 add up to 22.1%.

    Sector changes

    SectorJuly 2026August 2026September 2026Change
    Banks23.6%23.9%23.7%+0.1%
    Retailing7.4%7.7%7.8%+0.5%
    Automobiles7.3%7.2%7.0%−0.2%
    Pharmaceuticals & Biotechnology6.4%6.8%7.0%+0.6%
    Finance7.4%7.3%5.7%−1.7%

    Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

    Mahindra Manulife ELSS Tax Saver Fund Portfolio Holdings

    As on 30-09-2026 · 54 holdings · from the fund house's monthly portfolio

    HoldingsSectorWeight%Holdings trend1M change
    ICICI Bank LimitedBanks9.24%−4.9%
    HDFC Bank LimitedBanks7.24%0.0%
    Bharti Airtel LimitedTelecom - Services4.28%0.0%
    Bajaj Finance LtdFinance3.56%0.0%
    Reliance Industries LimitedPetroleum Products3.11%0.0%
    Larsen & Toubro LimitedConstruction2.96%0.0%
    Kotak Mahindra Bank LtdBanks2.57%0.0%
    TVS Motor Company LimitedAutomobiles2.56%0.0%
    Infosys LimitedIT - Software2.44%0.0%
    Hindustan Unilever LimitedDiversified FMCG2.31%0.0%

    Mahindra Manulife ELSS Tax Saver Fund Stocks Bought and Sold

    All changes are between August 2026 and September 2026

    More
    Stocks bought and sold in September 2026
    ICICI Bank LimitedReduced−4.9%9.24%
    IndusInd Bank LimitedReduced−18.5%1.43%
    Neuland Laboratories LimitedReduced−7.8%1.43%
    Tata Capital LimitedReduced−68.6%0.40%
    L&T Finance LimitedReduced−50.0%0.45%

    A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

    What Mahindra Manulife ELSS Tax Saver Fund bought and sold

    Mahindra Manulife ELSS Tax Saver Fund Portfolio Overlap

    Funds with the most similar portfolios, across every fund house and category

    FundOverlapHoldings in common
    Mahindra Manulife Large Cap FundLarge Cap · Mahindra Manulife61.7%29Compare
    Canara Robeco Large Cap FundLarge Cap · Canara Robeco54.1%27Compare
    Bandhan Nifty 50 Index FundIndex · Bandhan53.1%23Compare
    UTI - Large Cap FundLarge Cap · UTI53.1%27Compare
    PGIM India Large Cap FundLarge Cap · PGIM India53.1%23Compare
    Tata NIFTY 50 Exchange Traded FundIndex · Tata52.9%23Compare
    360 ONE ELSS Tax Saver Nifty 50 Index FundIndex · 360 ONE52.9%23Compare
    Zerodha Nifty 50 Index FundIndex · Zerodha52.9%23Compare

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

    Mahindra Manulife ELSS Tax Saver Fund Overview

    Fund facts from the scheme summary document, as on 16-10-2026

    Expense ratio (Direct)
    1.05%
    Expense ratio (Regular)
    2.49%
    Category
    ELSS
    Risk
    Very High
    Benchmark
    Nifty 500 TRI
    Launch date
    18-10-2016
    Minimum investment
    ₹500
    Minimum additional investment
    ₹500
    AUM
    ₹829.03 Cr (30-09-2026)
    Lock in
    3 years
    Scheme code (Direct)
    139781
    ISIN (Direct)
    INF174V01093
    Scheme code (Regular)
    139783
    ISIN (Regular)
    INF174V01077
    NAV history
    From 19-10-2016, 10.0 years
    Exit load
    Nil

    Tax on Mahindra Manulife ELSS Tax Saver Fund returns

    • Mahindra Manulife ELSS Tax Saver Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
    • Units sold within 1 year: the gain is taxed at 20%.
    • Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
    • Investing in it can be deducted from income under Section 80C, up to ₹1.5 lakh a year, in the old tax regime. Each investment is locked in for 3 years.
    • IDCW (dividend) payouts are added to your income and taxed at your slab rate.
    • A stamp duty of 0.005% is deducted when you invest.

    Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

    All plans and options

    PlanOptionNAVAs on
    directGrowth₹30.981730-10-2026
    directIDCW₹19.506830-10-2026
    regularGrowth₹25.909730-10-2026
    regularIDCW₹15.34230-10-2026

    About Mahindra Manulife ELSS Tax Saver Fund

    Mahindra Manulife ELSS Tax Saver Fund is a mutual fund from Mahindra Manulife Mutual Fund. Its category is ELSS. It was launched on 18-10-2016. Its benchmark is Nifty 500 TRI. At the end of September 2026 it held 54 securities.

    Fund Manager

    • $ Mr. Hemang Kapasi

      Fund manager of Mahindra Manulife ELSS Tax Saver Fund, since 25-09-2026

    • $ Mr. Neelesh Dhamnaskar

      Fund manager of Mahindra Manulife ELSS Tax Saver Fund, since 16-02-2026

    See all funds of Mahindra Manulife Mutual Fund

    AUM change

    September 2026
    ₹829.03 Cr
    −7.34% from August 2026
    August 2026
    ₹894.74 Cr
    −1.08% from July 2026
    July 2026
    ₹904.48 Cr
    +2.30% from June 2026

    AUM moves with money invested or taken out, and with the value of what the fund holds.

    Compare Mahindra Manulife ELSS Tax Saver Fund with Other Funds

    Returns, risk, costs and the stocks they share, side by side

    Frequently Asked Questions for Mahindra Manulife ELSS Tax Saver Fund

    What is the current NAV of Mahindra Manulife ELSS Tax Saver Fund?

    The Direct plan NAV is ₹30.9817. The Regular plan NAV is ₹25.9097, as on 30-10-2026.

    What are the returns of Mahindra Manulife ELSS Tax Saver Fund?

    The Direct plan returned −9.76% in 1 year, +8.18% a year over 3 years, +8.23% a year over 5 years. The Regular plan returned −11.09% in 1 year, +6.53% a year over 3 years, +6.51% a year over 5 years. These figures are as on 30-10-2026.

    What is the expense ratio of Mahindra Manulife ELSS Tax Saver Fund?

    The Direct plan charges 1.05% a year. The Regular plan charges 2.49% a year. This is the figure the fund house reported to AMFI, in force from 23-10-2026.

    What is the AUM of Mahindra Manulife ELSS Tax Saver Fund?

    Mahindra Manulife ELSS Tax Saver Fund managed ₹829.03 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

    What are the top holdings of Mahindra Manulife ELSS Tax Saver Fund?

    At the end of September 2026 the largest holdings were ICICIBANK (9.24%), HDFCBANK (7.24%), BHARTIARTL (4.28%), BAJFINANCE (3.56%), RELIANCE (3.11%). The fund held 54 securities in all.

    What did Mahindra Manulife ELSS Tax Saver Fund buy and sell in September 2026?

    It reduced 5.

    How do I invest in Mahindra Manulife ELSS Tax Saver Fund?

    Through Mahindra Manulife Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹500. You can invest once or through a monthly SIP.

    Who is the fund manager of Mahindra Manulife ELSS Tax Saver Fund?

    $ Mr. Hemang Kapasi (since 25-09-2026), $ Mr. Neelesh Dhamnaskar (since 16-02-2026).

    Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

    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.

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