COMPARE
ITI ELSS Tax Saver Fund - Direct Plan - Growth Option vs JM ELSS - Tax Saver Fund (Direct) - Growth Option
ITI ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund (Direct) are both in the ELSS category, from ITI Asset Management Limited and JM Financial Asset Management Limited respectively. ITI ELSS Tax Saver Fund has posted a higher 3-year rolling CAGR. ITI ELSS Tax Saver Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
ITI ELSS Tax Saver Fund has the lower direct-plan expense ratio, by 0.45 percentage points.
| ITI ELSS Tax Saver Fund - Direct Plan - Growth Option | JM ELSS - Tax Saver Fund (Direct) - Growth Option | |
|---|---|---|
| Category | ELSS | ELSS |
| AMC | ITI Asset Management Limited | JM Financial Asset Management Limited |
| Benchmark | Nifty 500 TRI | BSE 500 TRI |
| NAV | ₹26.5829 (2026-10-28) | ₹57.1039 (2026-10-28) |
| AUM | ₹418.96 Cr | ₹233.288 Cr |
| Expense Ratio (Direct) | 0.9% | 1.35% |
| Inception | 2019-07-15 | 2007-12-24 |
Returns
ITI ELSS Tax Saver Fund leads on 3-year rolling CAGR (20.8% vs JM ELSS - Tax Saver Fund (Direct)'s 17.9%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
ITI ELSS Tax Saver Fund has been the more volatile of the two by standard deviation.
| ITI ELSS Tax Saver Fund - Direct Plan - Growth Option | JM ELSS - Tax Saver Fund (Direct) - Growth Option | |
|---|---|---|
| 3Y Sharpe Ratio | 0.28 | 0.37 |
| 3Y Alpha | 3.6877% | 5.1098% |
| 3Y Std Deviation | 18.2246% | 16.1428% |
| 3Y Calmar Ratio | 0.54 | 0.63 |
Portfolio Analytics
JM ELSS - Tax Saver Fund (Direct) 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.
| ITI ELSS Tax Saver Fund - Direct Plan - Growth Option | JM ELSS - Tax Saver Fund (Direct) - Growth Option | |
|---|---|---|
| P/E Ratio | 23.4718 | 30.6852 |
| P/B Ratio | 2.08 | - |
| Dividend Yield | 0.6968% | 0.6472% |
| Active Share | 78.37% | 73.05% |
| Portfolio Turnover | 26.1% | 57.99999999999999% |
| YTM | - | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
ITI ELSS Tax Saver Fund and JM ELSS - Tax Saver Fund (Direct) carry the same Punji Quality grade.
Frequently asked questions
Which has a higher 3-year return, ITI ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund (Direct)?
ITI ELSS Tax Saver Fund's 3-year rolling CAGR of 20.8% is higher than JM ELSS - Tax Saver Fund (Direct)'s 17.9%. ITI ELSS Tax Saver Fund sits in the 80th percentile of its category on this metric, versus the 57th percentile for JM ELSS - Tax Saver Fund (Direct) - 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, ITI ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund (Direct)?
ITI ELSS Tax Saver Fund's direct-plan expense ratio is 0.45 percentage points lower than JM ELSS - Tax Saver Fund (Direct)'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, ITI ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund (Direct)?
By standard deviation (a measure of how much a fund's returns swing around its own average), ITI ELSS Tax Saver Fund has been more volatile than JM ELSS - Tax Saver Fund (Direct) 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 (0.28 for ITI ELSS Tax Saver Fund vs 0.37 for JM ELSS - Tax Saver Fund (Direct)) 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, ITI ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund (Direct)?
ITI ELSS Tax Saver Fund has ₹419 Cr in assets under management, versus ₹233 Cr for JM ELSS - Tax Saver Fund (Direct). 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, ITI ELSS Tax Saver Fund or JM ELSS - Tax Saver Fund (Direct)?
JM ELSS - Tax Saver Fund (Direct) launched on 2007-12-24, making it older than ITI ELSS Tax Saver Fund (launched 2019-07-15). 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.