COMPARE
Motilal Oswal ELSS Tax Saver Fund - Direct Plan - Growth Option vs NJ ELSS Tax Saver Fund Direct Growth
Motilal Oswal ELSS Tax Saver Fund and NJ ELSS Tax Saver Fund Direct Growth are both in the ELSS category, from Motilal Oswal Asset Management Company Limited and NJ Asset Management Private Limited respectively. Motilal Oswal ELSS Tax Saver Fund has posted a higher 3-year rolling CAGR. NJ 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
NJ ELSS Tax Saver Fund Direct Growth has the lower direct-plan expense ratio, by 0.16 percentage points.
| Motilal Oswal ELSS Tax Saver Fund - Direct Plan - Growth Option | NJ ELSS Tax Saver Fund Direct Growth | |
|---|---|---|
| Category | ELSS | ELSS |
| AMC | Motilal Oswal Asset Management Company Limited | NJ Asset Management Private Limited |
| Benchmark | Nifty 500 TRI | Nifty 500 TRI |
| NAV | ₹61.6 (2026-10-28) | ₹13.84 (2026-10-28) |
| AUM | ₹4,621.55 Cr | ₹323.45 Cr |
| Expense Ratio (Direct) | 0.95% | 0.79% |
| Inception | 2014-12-26 | 2023-03-13 |
Returns
Motilal Oswal ELSS Tax Saver Fund leads on 3-year rolling CAGR (19.3% vs NJ ELSS Tax Saver Fund Direct Growth's 10.8%) - see the FAQ below for percentile context within each fund's own category.
Risk Metrics
Motilal Oswal ELSS Tax Saver Fund has been the more volatile of the two by standard deviation.
| Motilal Oswal ELSS Tax Saver Fund - Direct Plan - Growth Option | NJ ELSS Tax Saver Fund Direct Growth | |
|---|---|---|
| 3Y Sharpe Ratio | 0.48 | -0.02 |
| 3Y Alpha | 8.0198% | -1.4008% |
| 3Y Std Deviation | 19.8736% | 14.3033% |
| 3Y Calmar Ratio | 0.60 | 0.30 |
Portfolio Analytics
Motilal Oswal 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.
| Motilal Oswal ELSS Tax Saver Fund - Direct Plan - Growth Option | NJ ELSS Tax Saver Fund Direct Growth | |
|---|---|---|
| P/E Ratio | 39.0342 | 8.8107 |
| P/B Ratio | 8.7753 | 15.3738 |
| Dividend Yield | 0.2547% | 1.6605% |
| Active Share | 96.28% | 95.95% |
| Portfolio Turnover | 67% | 65% |
| YTM | - | - |
| Duration (Macaulay) | - | - |
Punji Fund Health Score
Motilal Oswal ELSS Tax Saver Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a higher 3-year return, Motilal Oswal ELSS Tax Saver Fund or NJ ELSS Tax Saver Fund Direct Growth?
Motilal Oswal ELSS Tax Saver Fund's 3-year rolling CAGR of 19.3% is higher than NJ ELSS Tax Saver Fund Direct Growth's 10.8%. Motilal Oswal ELSS Tax Saver Fund sits in the 67th percentile of its category on this metric, versus the 6th percentile for NJ ELSS Tax Saver Fund Direct Growth - 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, Motilal Oswal ELSS Tax Saver Fund or NJ ELSS Tax Saver Fund Direct Growth?
NJ ELSS Tax Saver Fund Direct Growth's direct-plan expense ratio is 0.16 percentage points lower than Motilal Oswal 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, Motilal Oswal ELSS Tax Saver Fund or NJ ELSS Tax Saver Fund Direct Growth?
By standard deviation (a measure of how much a fund's returns swing around its own average), Motilal Oswal ELSS Tax Saver Fund has been more volatile than NJ 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 (0.48 for Motilal Oswal ELSS Tax Saver Fund vs -0.02 for NJ 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, Motilal Oswal ELSS Tax Saver Fund or NJ ELSS Tax Saver Fund Direct Growth?
Motilal Oswal ELSS Tax Saver Fund has ₹4,622 Cr in assets under management, versus ₹323 Cr for NJ 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, Motilal Oswal ELSS Tax Saver Fund or NJ ELSS Tax Saver Fund Direct Growth?
Motilal Oswal ELSS Tax Saver Fund launched on 2014-12-26, making it older than NJ ELSS Tax Saver Fund Direct Growth (launched 2023-03-13). 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.