IDFC Tax Advantage (ELSS) completed the three-peat in 2022: it has consistently beaten its average peer for three years on the trot. A feat achieved by few funds. It is one of the most aggressive tax-saving funds, as it maintains a sizable exposure to mid- and small-cap stocks. Due to the nature of its portfolio, the fund has previously outperformed the category average by a thumping 15-17 per cent during the bull runs of 2017 and 2021. Predictably, its returns moderated whenever mid- and small-caps were affected, like they did in 2018, 2019 and last year's May-June period. But on the whole, it has justified the amplified ups and downs with superior returns. On a five-year rolling basis, IDFC Tax Advantage continues to beat an average peer by a wide margin. Reasons for its good show Some of its top holdings like VRL Logistics, Reliance Industries, Mahindra and Mahindra and Greenpanel Industries have worked well for the fund. Its stake in financial companies - like ICICI Bank, Canara Bank and State Bank of India - has also been positive. At the othe
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