Financial system in India comprises mainly Financial Market, Financial Institution, Financial Service, and Financial Instrument. They accelerate the development in the Indian economy. Mutual funds work as Financial Institution and it helps to grow the economy in India. Investors who want to save tax under the section 80C of the income Tax Act, 1961 may invest their savings in different tax savings instruments. Equity Linked Savings Scheme (ELSS) is one of the tax savings instruments of tax payers. These funds provide handsome returns on the investment in the long run. Under this background, selected ELSS mutual funds are taken to study the performance of return of this mutual fund and ability in portfolio investment of fund manager. Against the backdrop, the present study is analysed using Sharpe Ratio, Treynor Ratio, Information Ratio, Standard deviation, Alpha and Beta.

KEYWORDS:  Alpha, Beta, ELSS, Information Ratio, Sharpe Ratio & Treynor Ratio.