COMPARE
Mirae Asset ELSS Tax Saver Fund - Direct Plan - Growth vs Tata Business Cycle Fund-Direct Plan-Growth
Mirae Asset ELSS Tax Saver Fund and Tata Business Cycle Fund- are in different categories (ELSS vs Sectoral/ Thematic), from Mirae Asset Investment Managers (India) Pvt. Ltd and Tata Asset Management Limited respectively. Tata Business Cycle Fund- has posted a higher 3-year rolling CAGR. Tata Business Cycle Fund- has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Tata Business Cycle Fund- has the lower direct-plan expense ratio, by 0.12 percentage points.
| Mirae Asset ELSS Tax Saver Fund - Direct Plan - Growth | Tata Business Cycle Fund-Direct Plan-Growth | |
|---|---|---|
| Category | ELSS | Sectoral/ Thematic |
| AMC | Mirae Asset Investment Managers (India) Pvt. Ltd | Tata Asset Management Limited |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| NAV | ₹54.541 (2026-09-30) | ₹19.5686 (2026-09-30) |
| AUM | ₹25,194.906 Cr | ₹2,485.37 Cr |
| Expense Ratio (Direct) | 1.02% | 0.9% |
| Inception | 2015-11-20 | 2021-07-16 |
Returns
Tata Business Cycle Fund- leads on 3-year rolling CAGR (20.2% vs Mirae Asset ELSS Tax Saver Fund's 19.0%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Tata Business Cycle Fund- has been the more volatile of the two by standard deviation.
| Mirae Asset ELSS Tax Saver Fund - Direct Plan - Growth | Tata Business Cycle Fund-Direct Plan-Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.28 | 0.29 |
| 3Y Alpha | 1.0898% | 1.2579% |
| 3Y Std Deviation | 13.7605% | 14.2532% |
| 3Y Calmar Ratio | 0.62 | 0.54 |
Portfolio Analytics
Tata Business Cycle 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.
| Mirae Asset ELSS Tax Saver Fund - Direct Plan - Growth | Tata Business Cycle Fund-Direct Plan-Growth | |
|---|---|---|
| P/E Ratio | 24.8865 | 27.1702 |
| P/B Ratio | - | 9.717 |
| Dividend Yield | 1.3378% | 1.7807% |
| Active Share | 59.32% | - |
| Portfolio Turnover | 108% | - |
| YTM | - | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
Tata Business Cycle Fund- has the stronger Punji Quality grade of the two.
| Mirae Asset ELSS Tax Saver Fund - Direct Plan - Growth | Tata Business Cycle Fund-Direct Plan-Growth | |
|---|---|---|
| Quality Grade | C | B |
| Safety Grade | C | D |
| Compound Grade | B | B |
Frequently asked questions
Which has a higher 3-year return, Mirae Asset ELSS Tax Saver Fund or Tata Business Cycle Fund-?
Tata Business Cycle Fund-'s 3-year rolling CAGR of 20.2% is higher than Mirae Asset ELSS Tax Saver Fund's 19.0%. Tata Business Cycle Fund- sits in the 77th percentile of its category on this metric, versus the 61st percentile for Mirae Asset 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, Mirae Asset ELSS Tax Saver Fund or Tata Business Cycle Fund-?
Tata Business Cycle Fund-'s direct-plan expense ratio is 0.12 percentage points lower than Mirae Asset 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, Mirae Asset ELSS Tax Saver Fund or Tata Business Cycle Fund-?
By standard deviation (a measure of how much a fund's returns swing around its own average), Tata Business Cycle Fund- has been more volatile than Mirae Asset ELSS Tax Saver Fund 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 Mirae Asset ELSS Tax Saver Fund vs 0.29 for Tata Business Cycle Fund-) 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, Mirae Asset ELSS Tax Saver Fund or Tata Business Cycle Fund-?
Mirae Asset ELSS Tax Saver Fund has ₹25,195 Cr in assets under management, versus ₹2,485 Cr for Tata Business Cycle Fund-. 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, Mirae Asset ELSS Tax Saver Fund or Tata Business Cycle Fund-?
Mirae Asset ELSS Tax Saver Fund launched on 2015-11-20, making it older than Tata Business Cycle Fund- (launched 2021-07-16). 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 2026-10-01. Source: AMFI disclosures via Punji. Not investment advice.