New Delhi, Sept. 10 -- Parag Parikh ELSS Tax Saver Fund has emerged as the worst-performing fund among all equity mutual funds, excluding sectoral and thematic schemes, over the past year. The fund fell 9.52% during the period.

The comparison is notable because another fund from the same fund house, Parag Parikh Flexi Cap Fund, fell 2.71% over the same period. That leaves a 6.81 percentage-point gap between the two schemes.

Yet, the two funds had around 71% portfolio overlap. Their portfolios as of 31 August 2026 show that the two schemes held 38 of the same stocks. But the allocation to these common holdings was not always similar. Flexi Cap also had exposure to US equities, while ELSS had a higher overall equity allocation.

Here is w...