ICICI Prudential ELSS Tax Saver Fund - IDCW

ICICI Prudential ELSS Tax Saver Fund - IDCW ranks among the stronger performers in the Multi Asset Allocation category, backed by a 5-star rating. Consistent 3-year performance combined with a strong rating makes this one of the more credible options in its space. TopFund's composite Health Score, which weighs rating, 3-year CAGR, expense ratio and fund size, puts it at 96/100.

Cost: At 0.82%, the expense ratio runs 28% above the Multi Asset Allocation category average of 0.64%. That gap is worth weighing against the fund's actual performance versus cheaper peers before committing to a long SIP.

Risk-adjusted performance: Over the trailing 1-year period, the fund shows a negative Sharpe ratio of -1.21 — over the past year, returns haven't kept pace with the volatility involved, even before accounting for the risk-free rate. Separately, annualised volatility of 14.73% is fairly typical for actively managed equity funds.

Who should invest: This fund is best suited to investors whose goals and risk appetite align with a Hybrid fund. The High risk rating means near-term volatility should be expected — this isn't a fund to check daily.