ITI ELSS Tax Saver Fund Regular Payout Inc Dist cum Cap Wdrl INF00XX01382

ITI ELSS Tax Saver Fund earns a Below Average Process Pillar rating.

The process is strengthened by the size of its portfolio management team. With three portfolio managers at the helm, the fund is reasonably well-resourced. However, the rating is limited by the parent firm's five-year risk-adjusted success ratio of 9%. The measure indicates the percentage of a firm's funds that have beat their respective category's median return for the period. The parent's modest success ratio suggests that the firm could do better across its fund lineup. The parent firm's five-year retention rate of 56% also holds the process back.

This strategy leans toward smaller, more undervalued companies compared with its average peer in the ELSS (Tax Savings) Morningstar Category. Analyzing additional factors, this strategy has consistently had a defensive tilt owing to its exposure to high-quality stocks over the past few years. This means the fund holds consistently profitable, growing companies with solid balance sheets that may help it endure downturns better than Morningstar Category peers. Different from its historical appetite, however, the strategy was less exposed to the Quality factor compared with Morningstar Category peers in the most recent month. This strategy has also exhibited a tilt toward high-volatility stocks over these years, meaning it has invested in companies that have a higher historical standard deviation of returns. This orientation tends to pay off most prominently when markets are hot. Compared with category peers, the strategy also had more exposure to the Volatility factor in the most recent month. Additionally, this strategy has demonstrated a preference for high-momentum stocks in these years. Momentum approaches bet that rising stocks will continue to rise and that lagging stocks will continue to lag. In this month, the strategy also had more exposure to the Momentum factor over its peers. More information on a fund and its respective category's factor exposure can be found in the Factor Profile module within the Portfolio section.

The portfolio is overweight in industrials and real estate relative to the category average by 11.6 and 3.4 percentage points, respectively. The sectors with low exposure compared with category peers are healthcare and consumer cyclical, underweight the average by 6.1 and 4.3 percentage points of assets, respectively. The portfolio is composed of 71 holdings and its assets are more dispersed than the typical peer in the category. In the most recent disclosure, 33.4% of the strategy's assets were concentrated in the top 10 fund holdings, as opposed to the category average's 38.5%.