Axis ELSS- Tax Saver Fund vs Mirae Asset ELSS Tax Saver Fund
Detailed stock-level portfolio comparison and mutual fund overlap analysis.
Real-World Rupee Impact: What 37.1% Overlap Means for Your Wealth
If you invest an equal ₹1,00,000 portfolio base across both schemes (₹50,000 in Axis and ₹50,000 in Mirae):
The Portfolio Verdict: Should You Hold Both?
Axis ELSS and Mirae Asset ELSS have ~37% overlap. Both lean towards quality large-cap compounding stocks. Investors should consolidate into a single tax-saving fund rather than splitting SIPs between two similar quality-growth strategies.
How Is This 37.1% Overlap Calculated?
Rather than merely matching stock names, our quantitative engine measures the minimum common portfolio weight for every security intersecting across both statutory AMFI disclosures:
Worked Example with HDFC Bank Limited:
Axis allocates 6.09% and Mirae allocates 8.77%. Your guaranteed common, duplicated exposure to HDFC Bank Limited is . Repeating this calculation across all 22 common stocks and summing their minimum common weights produces your exact 37.1% portfolio overlap.
4-Point Audit Checklist: Choosing Between These Two Funds
Category Mandate & Style
Overlap is moderate to low (37.1%). They can comfortably coexist in a portfolio if their market-cap orientation or investing styles (value vs growth) remain complementary.
Expense Ratio (Fee Drag)
Axis charges 1.05% vs Mirae at 1.02%. Over 10–15 years, a 0.20%+ fee difference compounds into lakhs of rupees in net corpus disparity.
Sector & Single-Stock Concentration
Check the combined sector weights below. If both funds heavily tilt toward the same sector (e.g. Banking or Tech), your portfolio is taking on concentrated cyclical risk.
Portfolio Rebalancing Action
Both schemes can be retained if they fit your asset allocation, but ensure your overall portfolio stays capped at 4 to 6 total mutual funds.
Scheme Profile Comparison
| Metric | Axis ELSS- Tax Saver Fund | Mirae Asset ELSS Tax Saver Fund |
|---|---|---|
| Fund House / AMC | Axis Mutual Fund | Mirae Asset Mutual Fund |
| AMFI Direct Scheme Code | 120503 | 135781 |
| Total Equity Holdings | 71 stocks | 69 stocks |
| Expense Ratio (TER) | 1.05% | 1.02% |
| Disclosure Filing Date | Sep 30, 2026 | Sep 30, 2026 |
Top Overlapping Holdings
Companies held simultaneously by both schemes, ranked by cumulative portfolio overlap weight.
| Company Name | Sector | Weight in Axis | Weight in Mirae | Overlap Exposuremin(WA, WB) |
|---|---|---|---|---|
HDFC Bank LimitedINE040A01034 | Banks | 6.09% | 8.77% | 6.09% |
ICICI Bank LimitedINE090A01021 | Banks | 6.89% | 5.19% | 5.19% |
Bharti Airtel LimitedINE397D01024 | Telecom - Services | 4.45% | 3.60% | 3.60% |
Axis Bank LimitedINE238A01034 | Banks | 2.73% | 3.66% | 2.73% |
State Bank of IndiaINE062A01020 | Banks | 2.32% | 4.09% | 2.32% |
Reliance Industries LimitedINE002A01018 | Petroleum Products | 1.74% | 4.34% | 1.74% |
Infosys LimitedINE009A01021 | IT - Software | 1.65% | 1.96% | 1.65% |
Sun Pharmaceutical Industries LimitedINE044A01036 | Pharmaceuticals & Biotechnology | 1.61% | 2.34% | 1.61% |
Looking for all 22 overlapping holdings?
This curated snapshot highlights the top 8 common stocks. Use our free, interactive Mutual Fund Overlap Calculator to inspect all common holdings, calculate your Effective Number of Stocks (ENS), and simulate custom rupee allocations (₹ or %).
Sector Allocation Breakdown
How both schemes allocate capital across key Indian economic sectors.
| Sector | Axis (%) | Mirae (%) | Combined Weight (%) |
|---|---|---|---|
| Banks | 22.2% | 25.6% | 47.8% |
| Pharmaceuticals & Biotechnology | 7.7% | 8.9% | 16.7% |
| Automobiles | 5.7% | 5.5% | 11.2% |
| Retailing | 5.1% | 4.9% | 10.0% |
| Telecom - Services | 4.5% | 5.1% | 9.6% |
| IT - Software | 4.9% | 3.1% | 8.0% |
Frequently Asked Questions
What is the stock overlap between Axis ELSS- Tax Saver Fund and Mirae Asset ELSS Tax Saver Fund?
Based on statutory AMFI monthly disclosures as of Sep 30, 2026, the portfolio overlap betweenAxis ELSS- Tax Saver Fund and Mirae Asset ELSS Tax Saver Fund is 37.1%. They hold 22 stocks in common.
Can I invest in both Axis ELSS- Tax Saver Fund and Mirae Asset ELSS Tax Saver Fund simultaneously?
Axis ELSS and Mirae Asset ELSS have ~37% overlap. Both lean towards quality large-cap compounding stocks. Investors should consolidate into a single tax-saving fund rather than splitting SIPs between two similar quality-growth strategies.
Which fund has a lower expense ratio?
Axis ELSS- Tax Saver Fund charges a Total Expense Ratio (TER) of 1.05% (Direct Plan), whileMirae Asset ELSS Tax Saver Fund charges 1.02% (Direct Plan).Mirae Asset ELSS Tax Saver Fund is currently more cost-effective by 0.03%.
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