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Axis ELSS Tax Saver Fund - Direct Plan - Growth Option vs Parag Parikh ELSS Tax Saver Fund- Direct Growth
Axis ELSS Tax Saver Fund and Parag Parikh ELSS Tax Saver Fund- Direct Growth are both in the ELSS category, from Axis Asset Management Co. Ltd. and PPFAS Asset Management Pvt. Ltd. respectively. Parag Parikh ELSS Tax Saver Fund- Direct Growth has posted a higher 3-year rolling CAGR. Parag Parikh ELSS Tax Saver Fund- Direct Growth has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Parag Parikh ELSS Tax Saver Fund- Direct Growth has the lower direct-plan expense ratio, by 0.41 percentage points.
| Axis ELSS Tax Saver Fund - Direct Plan - Growth Option | Parag Parikh ELSS Tax Saver Fund- Direct Growth | |
|---|---|---|
| Category | ELSS | ELSS |
| AMC | Axis Asset Management Co. Ltd. | PPFAS Asset Management Pvt. Ltd. |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| NAV | ₹105.4599 (2026-10-28) | ₹30.54 (2026-10-28) |
| AUM | ₹29,961.943 Cr | ₹5,423.16 Cr |
| Expense Ratio (Direct) | 1.06% | 0.65% |
| Inception | 2009-12-17 | 2019-07-04 |
Returns
Parag Parikh ELSS Tax Saver Fund- Direct Growth leads on 3-year rolling CAGR (22.5% vs Axis ELSS Tax Saver Fund's 14.4%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Axis ELSS Tax Saver Fund has been the more volatile of the two by standard deviation.
| Axis ELSS Tax Saver Fund - Direct Plan - Growth Option | Parag Parikh ELSS Tax Saver Fund- Direct Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.07 | 0.04 |
| 3Y Alpha | -0.14% | -0.3833% |
| 3Y Std Deviation | 13.6201% | 10.8956% |
| 3Y Calmar Ratio | 0.49 | 0.51 |
Portfolio Analytics
Axis ELSS Tax Saver Fund carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
| Axis ELSS Tax Saver Fund - Direct Plan - Growth Option | Parag Parikh ELSS Tax Saver Fund- Direct Growth | |
|---|---|---|
| P/E Ratio | 30.3306 | 17.8397 |
| P/B Ratio | - | - |
| Dividend Yield | 0.8112% | 2.2993% |
| Active Share | 55.17% | 72.69% |
| Portfolio Turnover | - | 20.14% |
| YTM | - | 5.84% |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
Parag Parikh ELSS Tax Saver Fund- Direct Growth has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Axis ELSS Tax Saver Fund or Parag Parikh ELSS Tax Saver Fund- Direct Growth?
Parag Parikh ELSS Tax Saver Fund- Direct Growth's 3-year rolling CAGR of 22.5% is higher than Axis ELSS Tax Saver Fund's 14.4%. Parag Parikh ELSS Tax Saver Fund- Direct Growth sits in the 96th percentile of its category on this metric, versus the 16th percentile for Axis ELSS Tax Saver Fund - though note both funds may belong to different categories with different medians, so a raw CAGR comparison doesn't account for how each fund performed relative to its own peers. A higher historical return also doesn't necessarily mean lower risk; check the risk metrics below before concluding either fund is the "better" choice.
Which has a lower expense ratio, Axis ELSS Tax Saver Fund or Parag Parikh ELSS Tax Saver Fund- Direct Growth?
Parag Parikh ELSS Tax Saver Fund- Direct Growth's direct-plan expense ratio is 0.41 percentage points lower than Axis ELSS Tax Saver Fund's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Which fund carries more risk, Axis ELSS Tax Saver Fund or Parag Parikh ELSS Tax Saver Fund- Direct Growth?
By standard deviation (a measure of how much a fund's returns swing around its own average), Axis ELSS Tax Saver Fund has been more volatile than Parag Parikh ELSS Tax Saver Fund- Direct Growth over the trailing window. Standard deviation captures total volatility in both directions - up and down - so a higher figure means bigger swings generally, not necessarily bigger losses specifically. Sharpe ratio (0.07 for Axis ELSS Tax Saver Fund vs 0.04 for Parag Parikh ELSS Tax Saver Fund- Direct Growth) is a better single measure of risk-adjusted return, since it weighs the return earned per unit of volatility taken rather than volatility alone.
Which has higher AUM, Axis ELSS Tax Saver Fund or Parag Parikh ELSS Tax Saver Fund- Direct Growth?
Axis ELSS Tax Saver Fund has ₹29,962 Cr in assets under management, versus ₹5,423 Cr for Parag Parikh ELSS Tax Saver Fund- Direct Growth. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which fund has a longer track record, Axis ELSS Tax Saver Fund or Parag Parikh ELSS Tax Saver Fund- Direct Growth?
Axis ELSS Tax Saver Fund launched on 2009-12-17, making it older than Parag Parikh ELSS Tax Saver Fund- Direct Growth (launched 2019-07-04). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.