The Axis ELSS Tax Saver Fund, the largest in its category by assets under management, underperformed its benchmark. Over the past three years, the fund returned 10.80%, compared to the 20% delivered by its benchmark, the NIFTY 500 - TRI. As of July 2024, the fund manages Rs 38,278 crore in assets. In comparison, the Mahindra Manulife ELSS Tax Saver Fund achieved a 17.84% return over the same period, while the Union ELSS Tax Saver Fund provided an 18.26% return, both slightly below the benchmark's 20% and 19.99%, respectively.