Why two ELSS schemes and not one?

Because of the lock-in. In an open category a duplicated holding can be fixed by switching; in ELSS every instalment is locked for three years, so a duplication is held for three years. Two schemes with low overlap spread the bet without adding a lock-in you do not already have. One scheme is a perfectly reasonable choice too — the basket then has one pick and the overlap rule does not apply.

How is the twelve per cent overlap measured?

As common weight: for every stock both schemes hold, the smaller of the two weights, summed. Identical portfolios score 100%; disjoint ones 0%. The overlap calculator does this from each scheme's disclosed portfolio, matched on ISIN, and excludes cash and government paper from the count.

Is ELSS a good investment if I am on the new tax regime?

That is a question about your circumstances, which this page does not answer. What is checkable: under the new regime the deduction does not exist, so an ELSS is an equity scheme with a three-year lock-in and nothing else. A flexi cap scheme has a similar mandate without the lock-in.

Tax Shield 80C

The Section 80C deduction, through the one mutual fund category that qualifies for it.

Summary

The Tax Shield 80C basket is two ELSS schemes at half each. ELSS is the only mutual fund category that qualifies for the Section 80C deduction, which is capped at ₹1.5 lakh a year across every 80C instrument and applies only under the old tax regime. Each instalment is locked in for three years. You choose both schemes and check their overlap.

The allocation, and why each sleeve is there

ELSS (tax saving) — 2 schemes, half each
100%
SEBI mandate: At least 80% in equity, with a statutory three-year lock-in. Category risk: Very High. Statutory lock-in 3 years.
The one SEBI category Section 80C names. A three-year statutory lock-in on every instalment, and an equity mandate of at least 80% — so this is an equity holding first and a deduction second.

Equity: 100%
Built for: three to five years

A suitability assessment expressed in SEBI scheme categories, never a recommendation of any scheme. GrowIQ Capital is an AMFI registered mutual fund distributor (ARN-352082), not a SEBI registered investment adviser.

What to check before choosing

The deduction is available only under the old tax regime. Under the new regime, the default since FY 2023-24, an ELSS investment carries no deduction at all. The lock-in applies either way.
₹1.5 lakh a year is the ceiling across every Section 80C instrument combined — EPF, PPF, life insurance premiums, home-loan principal and ELSS share it. Instalments beyond what is left of that ceiling are an equity investment with a lock-in and no tax effect.
Two schemes rather than one, and their portfolios should overlap by no more than 12% by common weight. Two ELSS funds holding the same twenty large caps are one bet with two names, and the lock-in means you cannot unwind the duplication for three years.

The overlap calculator reads both schemes' disclosed portfolios and reports the common weight. Above 12%, pick a different second scheme.

Check the overlap of your two picks

What these categories have returned

The median across the schemes in each category that GrowIQ can transact, with the count it rests on. A fact about the category's past, not about any scheme in it.

Category	3-year CAGR, median	5-year CAGR, median
ELSS (tax saving)0 schemes	not enough history	not enough history

Computed from NAVs published by AMFI. A category with fewer than three schemes carrying the figure shows none. Past performance may or may not be sustained in future and does not guarantee future returns. Returns of one year and above are compounded annually (CAGR); shorter periods are absolute. Figures are computed from published NAVs and are point-to-point.

Market figures are indicative and may be delayed. Past performance does not indicate future returns. Securities and schemes named anywhere on this platform are exemplary, not recommendatory.

Fund the basket

A SIP registers 12 monthly instalments here. The 80C limit is per financial year, so the SIP registers for twelve instalments and is re-registered each year the deduction is wanted.

Monthly amount to split across the basket

₹

From ₹200 a month every line clears the ₹100 minimum an instalment can be.

ELSS (tax saving) — scheme 1 of 2
₹5,000a month
Choose a fund for this sleeve
ELSS (tax saving) — scheme 2 of 2
₹5,000a month
Choose a fund for this sleeve

Illustration only, computed from the assumptions shown — not a forecast, a projection of any scheme's performance, or a guarantee. Mutual fund investments are subject to market risks; read all scheme related documents carefully.

You choose each scheme. GrowIQ does not recommend one, and the explorer lists every scheme in the category in the same order whether or not you arrive with an amount. Nothing is submitted until you confirm it on the order screen, where the amount can be changed.

Questions

Why two ELSS schemes and not one?: Because of the lock-in. In an open category a duplicated holding can be fixed by switching; in ELSS every instalment is locked for three years, so a duplication is held for three years. Two schemes with low overlap spread the bet without adding a lock-in you do not already have. One scheme is a perfectly reasonable choice too — the basket then has one pick and the overlap rule does not apply.
How is the twelve per cent overlap measured?: As common weight: for every stock both schemes hold, the smaller of the two weights, summed. Identical portfolios score 100%; disjoint ones 0%. The overlap calculator does this from each scheme's disclosed portfolio, matched on ISIN, and excludes cash and government paper from the count.
Is ELSS a good investment if I am on the new tax regime?: That is a question about your circumstances, which this page does not answer. What is checkable: under the new regime the deduction does not exist, so an ELSS is an equity scheme with a three-year lock-in and nothing else. A flexi cap scheme has a similar mandate without the lock-in.

Beside your risk profile

This basket is 100% equity. It sits within the starting allocation of no suitability tier — every tier's allocation starts below it. Sign in and take the risk profile, and this page will compare the basket with your own assessment.

Take the risk profile

What this page is not

Not a list of schemes. GrowIQ Capital is an AMFI-registered distributor (ARN-352082), not a SEBI-registered investment adviser, and names no fund for anybody.
Not a forecast. The category figures are medians of past returns with the date they were measured to; past performance may or may not be sustained.
Not an order. Each link carries an amount to the explorer; nothing is placed until you confirm it on the order screen, where every figure can be changed.

The other baskets

Emergency Shield
Liquid, ultra short duration and arbitrage categories, weighted towards the one that redeems fastest.
Generational Compounder
Flexi cap, a Nifty 50 index sleeve and mid cap, inside the mid-and-small ceiling the suitability engine applies.