Previously Known As : Mahindra Manulife Elss Fund
Mahindra Manulife Elss Tax Saver Fund Datagrid
Category ELSS (Tax Saving) Fund
BMSMONEY Rank 29
Rating
Growth Option 13-03-2026
NAV ₹26.09(R) -2.09% ₹30.9(D) -2.08%
Returns 1Y 3Y 5Y 7Y 10Y
Lumpsum Regular 4.2% 12.12% 11.46% 12.6% -%
Direct 5.82% 13.9% 13.28% 14.46% -%
Nifty 500 TRI 7.03% 15.05% 12.45% 13.56% 14.3%
SIP (XIRR) Regular -12.8% 2.46% 7.47% 11.78% -%
Direct -11.4% 4.15% 9.28% 13.71% -%
Ratio Sharpe Ratio Sortino Ratio Sterling Ratio Jensen's Alpha Treynor Ratio
0.7 0.34 0.55 -2.39% -0.47
Risk STD. Dev VaR 1Y95% Max DD Beta Semi Devi.
11.81% -15.42% -16.11% 0.91 8.54%
Fund AUM As on: 30/12/2025 972 Cr
Top ELSS (Tax Saving) Fund
Fund Name Rank Rating
SBI ELSS Tax Saver Fund 1
DSP ELSS Tax Saver Fund 2
HDFC ELSS Tax Saver 3
Baroda BNP Paribas ELSS Tax Saver Fund 4
Mirae Asset ELSS Tax Saver Fund 5
HSBC Elss Tax Saver Fund 6
Nippon India ELSS Tax Saver Fund 7
Tata ELSS Fund 8

NAV Date: 13-03-2026

Scheme Name NAV Rupee Change Percent Change
Mahindra Manulife ELSS Tax Saver Fund - Regular Plan - IDCW 15.45
-0.3300
-2.0900%
Mahindra Manulife ELSS Tax Saver Fund- Direct Plan - IDCW 19.46
-0.4100
-2.0800%
Mahindra Manulife ELSS Tax Saver Fund- Regular Plan - Growth 26.09
-0.5600
-2.0900%
Mahindra Manulife ELSS Tax Saver Fund - Direct Plan -Growth 30.9
-0.6600
-2.0800%

Review Date: 13-03-2026

Beginning of Analysis

In the ELSS (Tax Saving) Fund category, Mahindra Manulife ELSS Tax Saver Fund is the 19th ranked fund. The category has total 35 funds. The 3 star rating shows an average past performance of the Mahindra Manulife ELSS Tax Saver Fund in ELSS (Tax Saving) Fund. The fund has a Jensen Alpha of -2.39% which is lower than the category average of -1.0%, reflecting poor performance. The fund has a Sharpe Ratio of 0.7 which is lower than the category average of 0.8.
The past performance of the fund may or may not be sustained in the future. The review is not investment advice nor is it a recommendation to buy or sell funds. The ranking is based on proprietary methodology developed by bmsmoney. The methodology is based on the past performance of the funds and does not guarantee future performance.
ELSS (Tax Saving) Mutual Funds are ideal for taxpayers seeking to save taxes under Section 80C while aiming for long-term wealth creation through equity investments. These funds offer a tax deduction of up to ₹1.5 lakh per financial year and have the shortest lock-in period of 3 years among all Section 80C options. However, being equity-oriented, they are subject to market risks and do not offer guaranteed returns. Investors should have a long-term investment horizon and a moderate to high risk tolerance to invest in ELSS funds. Additionally, the tax implications of long-term capital gains should be considered.

Mahindra Manulife ELSS Tax Saver Fund Return Analysis

The Mahindra Manulife ELSS Tax Saver Fund has delivered a mixed performance across various time horizons, showcasing both strengths and challenges when compared to its ELSS (Tax Saving) Fund peers and the Nifty 500 TRI benchmark. This analysis examines the fund’s returns over periods ranging from one month to ten years, alongside its Systematic Investment Plan (SIP) performance, highlighting its rankings within the ELSS (Tax Saving) Fund category and its ability to outperform or underperform the benchmark and category averages.

  • The fund has given a return of -8.94%, -10.53 and -8.71 in last one, three and six months respectively. In the same period the category average return was -8.23%, -9.81% and -8.42% respectively.
  • Mahindra Manulife ELSS Tax Saver Fund has given a return of 5.82% in last one year. In the same period the Nifty 500 TRI return was 7.03%. The fund has given 1.21% less return than the benchmark return.
  • The fund has given a return of 13.9% in last three years and rank 28th out of thirty eight funds in the category. In the same period the Nifty 500 TRI return was 15.05%. The fund has given 1.15% less return than the benchmark return.
  • Mahindra Manulife ELSS Tax Saver Fund has given a return of 13.28% in last five years and category average returns is 13.18% in same period. The fund ranked 15th out of thirty two funds in the category. In the same period the Nifty 500 TRI return was 12.45%. The fund has given 0.83% more return than the benchmark return.
  • The fund has given a SIP return of -11.4% in last one year whereas category average SIP return is -11.02%. The fund one year return rank in the category is 23rd in 42 funds
  • The fund has SIP return of 4.15% in last three years and ranks 25th in 38 funds. Motilal Oswal ELSS Tax Saver Fund has given the highest SIP return (9.05%) in the category in last three years.
  • The fund has SIP return of 9.28% in last five years whereas category average SIP return is 9.96%.

Mahindra Manulife ELSS Tax Saver Fund Risk Analysis

  • The fund has a standard deviation of 11.81 and semi deviation of 8.54. The category average standard deviation is 12.95 and semi deviation is 9.5.
  • The fund has a Value at Risk (VaR) of -15.42 and a maximum drawdown of -16.11. The category average VaR is -16.62 and the maximum drawdown is -17.56. The fund has a beta of 0.88 which shows that fund is less volatile than the benchmark.

Standard deviation measures the fund's return volatility and Semi deviation focuses on downside volatility. Value at Risk (VaR) is a measure of the risk of investments. Maximum Drawdown is the maximum loss from a peak to a trough of a portfolio. Beta measures the volatility of the fund compared to the benchmark. A beta of 1 indicates that the fund will move in line with the benchmark. A beta of more than 1 indicates that the fund will be more volatile than the benchmark and vice versa.


  • Very Good Performance in ELSS (Tax Saving) Fund Category
  • Good Performance in ELSS (Tax Saving) Fund Category
  • Poor Performance in ELSS (Tax Saving) Fund Category
  • Very Poor Performance in ELSS (Tax Saving) Fund Category

    • Investors beware: Mutual Fund investments are subject to market risks. Please read the scheme related documents carefully.

    Data Source: www.amfiindia.com

    SEBI Categorization


    KPIs* Fund Nifty 500 TRI Cat. Avg Min | Max Rank (In Cat.) Performance
    1M Return % -9.04 -8.21
    -8.32
    		-10.27 | -5.71 28 | 41 Average
    3M Return % -10.85 -9.72
    -10.07
    		-13.81 | -4.81 30 | 41 Average
    6M Return % -9.39 -7.62
    -8.96
    		-15.09 | -4.98 27 | 41 Average
    1Y Return % 4.20 7.03
    4.60
    		-1.87 | 9.79 21 | 41 Good
    3Y Return % 12.12 15.05
    14.08
    		4.62 | 20.76 30 | 38 Average
    5Y Return % 11.46 12.45
    11.92
    		7.13 | 17.21 18 | 32 Average
    7Y Return % 12.60 13.56
    13.00
    		8.75 | 20.86 16 | 30 Good
    1Y SIP Return % -12.80
    -12.11
    		-20.64 | -5.69 26 | 41 Average
    3Y SIP Return % 2.46
    3.66
    		-6.30 | 7.95 29 | 38 Average
    5Y SIP Return % 7.47
    8.69
    		3.93 | 14.35 22 | 32 Average
    7Y SIP Return % 11.78
    12.38
    		7.33 | 18.44 19 | 30 Average
    Standard Deviation 11.81
    12.95
    		9.59 | 19.13 9 | 38 Very Good
    Semi Deviation 8.54
    9.50
    		6.93 | 14.90 11 | 38 Good
    Max Drawdown % -16.11
    -17.56
    		-28.24 | -9.56 15 | 38 Good
    VaR 1 Y % -15.42
    -16.62
    		-24.68 | -10.33 16 | 38 Good
    Average Drawdown % -4.99
    -5.73
    		-10.61 | -3.44 15 | 38 Good
    Sharpe Ratio 0.70
    0.80
    		0.06 | 1.35 29 | 38 Average
    Sterling Ratio 0.55
    0.61
    		0.18 | 0.94 29 | 38 Average
    Sortino Ratio 0.34
    0.40
    		0.06 | 0.76 28 | 38 Average
    Jensen Alpha % -2.39
    -1.00
    		-12.52 | 5.83 29 | 37 Average
    Treynor Ratio -0.47
    -0.43
    		-0.60 | -0.31 29 | 37 Average
    Modigliani Square Measure % 15.06
    16.41
    		6.57 | 23.81 29 | 37 Average
    Alpha % -3.63
    -1.29
    		-10.64 | 7.62 29 | 37 Average
    Return data last Updated On : March 13, 2026.
    Other parameters, fund ranking, non return related analysis are updated after every month end. Last Updated On : Feb. 27, 2026
    KPIs: Key Performance Indicators

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    KPIs* Fund Nifty 500 TRI Cat. Avg Min | Max Rank (In Cat.) Performance
    1M Return % -8.94 -8.21 -8.23 -10.19 | -5.66 29 | 42 Average
    3M Return % -10.53 -9.72 -9.81 -13.57 | -4.54 29 | 42 Average
    6M Return % -8.71 -7.62 -8.42 -14.61 | -4.21 25 | 42 Average
    1Y Return % 5.82 7.03 5.85 -0.71 | 11.15 19 | 42 Good
    3Y Return % 13.90 15.05 15.32 6.13 | 22.20 28 | 38 Average
    5Y Return % 13.28 12.45 13.18 7.96 | 18.83 15 | 32 Good
    7Y Return % 14.46 13.56 14.25 9.65 | 22.65 15 | 30 Good
    1Y SIP Return % -11.40 -11.02 -19.68 | -4.51 23 | 42 Average
    3Y SIP Return % 4.15 4.85 -4.87 | 9.05 25 | 38 Average
    5Y SIP Return % 9.28 9.96 5.76 | 15.15 20 | 32 Average
    7Y SIP Return % 13.71 13.68 9.29 | 20.24 16 | 30 Good
    Standard Deviation 11.81 12.95 9.59 | 19.13 9 | 38 Very Good
    Semi Deviation 8.54 9.50 6.93 | 14.90 11 | 38 Good
    Max Drawdown % -16.11 -17.56 -28.24 | -9.56 15 | 38 Good
    VaR 1 Y % -15.42 -16.62 -24.68 | -10.33 16 | 38 Good
    Average Drawdown % -4.99 -5.73 -10.61 | -3.44 15 | 38 Good
    Sharpe Ratio 0.70 0.80 0.06 | 1.35 29 | 38 Average
    Sterling Ratio 0.55 0.61 0.18 | 0.94 29 | 38 Average
    Sortino Ratio 0.34 0.40 0.06 | 0.76 28 | 38 Average
    Jensen Alpha % -2.39 -1.00 -12.52 | 5.83 29 | 37 Average
    Treynor Ratio -0.47 -0.43 -0.60 | -0.31 29 | 37 Average
    Modigliani Square Measure % 15.06 16.41 6.57 | 23.81 29 | 37 Average
    Alpha % -3.63 -1.29 -10.64 | 7.62 29 | 37 Average
    Return data last Updated On : March 13, 2026.
    Other parameters, fund ranking, non return related analysis are updated after every month end. Last Updated On : Feb. 27, 2026
    KPIs: Key Performance Indicators

    Disclaimer: Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Returns for periods above 1 year are annualised.


    Date Mahindra Manulife Elss Tax Saver Fund NAV Regular Growth Mahindra Manulife Elss Tax Saver Fund NAV Direct Growth
    13-03-2026 26.0851 30.9025
    12-03-2026 26.6416 31.5604
    11-03-2026 26.895 31.8594
    10-03-2026 27.2538 32.2831
    09-03-2026 26.9297 31.898
    06-03-2026 27.4467 32.5067
    05-03-2026 27.7215 32.8308
    04-03-2026 27.4517 32.5099
    02-03-2026 27.8911 33.0277
    27-02-2026 28.2864 33.4918
    26-02-2026 28.5806 33.8388
    25-02-2026 28.5681 33.8227
    24-02-2026 28.4541 33.6863
    23-02-2026 28.7434 34.0275
    20-02-2026 28.6322 33.8917
    19-02-2026 28.5349 33.7752
    18-02-2026 28.933 34.245
    17-02-2026 28.8771 34.1775
    16-02-2026 28.8042 34.0898
    13-02-2026 28.6786 33.937

    Fund Launch Date: 22/Aug/2016
    Fund Category: ELSS (Tax Saving) Fund
    Investment Objective: The investment objective of the Scheme is to generate long-term capital appreciation through a diversified portfolio of equity and equity related securities. The Scheme does not guarantee or assure any returns.
    Fund Description: An open ended equity linked saving schemewith a statutory lock in of 3 years and tax benefit
    Fund Benchmark: Nifty 200 Total Return Index
    Source: Fund FactSheet

    Disclaimer: NO INVESTMENT ADVICE. The Content is for informational purposes only.