The following are the parameters that one should evaluate before choosing an ELSS fund to invest -  One has to check the consistency of the fund performance, both current performance and past performance. Also, they should compare the fund’s performance with its benchmark.  Investors should also check the fund history, i.e. the fund house, its governance and the number of years of experience the fund manager has.  Investors should also check the expense ratio, i.e. the cost they incur while investing in mutual funds.  The risk and return related ratios like Sharpe Ratio, Standard Deviation, Beta, Alpha and R-Squared.  Therefore, investors can evaluate the above parameters to choose an ELSS fund. However, one should consider their financial goals, tax liability, risk-taking capacity and investment horizon before making an investment decision.