Groww Gold ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 15, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Groww Gold ETF FOF Direct Growth Plan currently has an NAV of ₹18.5433 as of 11 Sep 2026 and an AUM of ₹131 Cr. Its 1-year, 3-year and 5-year returns are 36.67%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that this is a narrow gold-oriented fund of fund with a concentrated structure, so its near-term gains matter more than any long-run compounding history at this stage.
The current return profile is stronger over 1 year than its Nifty 50 benchmark, while the medium-term record is still too short to build a full cycle view. That makes it more relevant for investors who want gold exposure through a direct plan and are comfortable with sharp swings rather than those looking for a steady, diversified equity-style return path.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹18.5433 as of 11 Sep 2026 |
| AUM | ₹131 Cr |
| Expense Ratio | 0.23% |
| Launch Date | 06 Nov 2024 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Fund of Fund |
| Exit Load | 1% on or before 30D, Nil after 30D |
| Fund Managers | Wilfred Gonsalves, Ameya Sakpal |
The fund is managed by Wilfred Gonsalves and Ameya Sakpal.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.05% | -3.66% |
| 3M | 0.71% | -1.91% |
| 1Y | 36.67% | -7.62% |
| 3Y | 0% | Data not available |
| 5Y | 0% | Data not available |
The one-month pattern was soft, but it still held up better than the benchmark over the same stretch. That is important because the fund did not simply mirror a straight-line move; it showed small setbacks along with recovery attempts, which is typical of a market-linked metal exposure.
Over three months, the fund stayed in positive territory while the benchmark remained negative. Our view is that the recent recovery matters more than the headline one-month dip, because the fund has maintained better short-term resilience than the benchmark even in a choppy phase.
The one-year picture is much stronger. The fund has posted a sharp gain, while the benchmark is negative over the same horizon, so the fund has clearly outpaced the benchmark in the latest completed year. That said, the scheme is still very young, so the 3-year and 5-year fields are not yet useful for judging a full market cycle.
For investors, the key read-through is that this is a momentum-sensitive exposure rather than a smooth compounding story. The recent trend is constructive, but the longer horizon is not yet long enough to confirm how it behaves across a full spread of market conditions.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD Groww Gold ETF FOF?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Groww Gold ETF FOF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Groww Gold ETF FOF Direct Growth Plan | 36.67% | 0% | 0% |
| SBI Silver ETF FOF Direct Growth Plan | 81.88% | Data not available | Data not available |
| Kotak Silver ETF FoF Direct Growth Plan | 80.9% | 44.95% | Data not available |
| Axis Silver FoF Direct Growth Plan | 80.07% | 45.18% | Data not available |
| Zerodha Silver ETF FoF Direct Growth Plan | 79.84% | Data not available | Data not available |
| Nippon India Silver ETF FOF Direct Growth Plan | 79.78% | 44.48% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On a one-year basis, this fund trails the silver-ETF fund of funds in the comparison set by a wide margin, even though it has still beaten its own benchmark over the same period. That tells us the recent story is less about being the strongest peer and more about capturing a different metal cycle with a gold-heavy profile.
The 3-year and 5-year fields are not yet meaningful for the fund itself, so the comparison is asymmetrical. Against peers with longer records, the current fund does not yet have an established medium-term history, which makes the recent one-year move the main data point for investors to watch.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Groww Gold ETF | Domestic Mutual Funds Units – Gold | 99.17% |
| TREPS 01-Sep-2026 | Cash & Cash Equivalents and Net Assets | 1.16% |
The portfolio is extremely simple, with the main holding at 99.17%. In absolute terms, that means the scheme is almost entirely driven by one underlying gold ETF position, while the small cash and cash-equivalent line plays only a supporting role.
Because there are only two disclosed holdings, the weight drop from the largest position to the second is steep. That structure may leave the fund highly sensitive to the movement of the underlying gold ETF, and it could also mean there is very little offset from other assets inside the scheme.
Since the disclosed holdings account for 100% of the portfolio and only two positions are shown, the fund looks tightly concentrated rather than broadly spread. That concentration is not unusual for a fund of fund built around a single theme, but it does mean the portfolio is unlikely to diversify away the behaviour of its core gold exposure.
Source data date: as of 11 Sep 2026
Who should invest
This fund fits investors who are comfortable with High Risk exposure and who want a gold-linked allocation through a fund of fund structure. The one-year performance has been strong, but the very short scheme history means the longer-term pattern is not yet established, so a patient horizon is more suitable than a short trading mindset.
The trade-off is clear: investors get a concentrated gold exposure with a low expense ratio, but they also accept that returns may swing meaningfully and the record is still young. It can work as a satellite allocation for someone who wants a precious-metals tilt, but it is less suitable for investors who need broad diversification or a stable benchmark-like return path.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 1% if units are sold on or before 30 days; nil after 30 days.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of Groww Gold ETF FOF Direct Growth Plan?
The current NAV is ₹18.5433 as of 11 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 36.67%, while the 3-year and 5-year returns are 0% each.
How does it compare with the benchmark?
It has outpaced the Nifty 50 benchmark over 1 year and also stayed ahead over 1 month and 3 months. The benchmark is negative across those same recent periods.
How does it compare with the peer funds listed here?
Its 1-year return is lower than the silver ETF fund of funds listed here, while its 3-year and 5-year fields are not yet established. That means the recent comparison is useful, but the longer-horizon peer comparison is still incomplete.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Wilfred Gonsalves and Ameya Sakpal. The exit load is 1% if units are sold on or before 30 days and nil after 30 days.
Bottom line
Groww Gold ETF FOF Direct Growth Plan has a stronger recent one-year return profile than its benchmark, but its record is still too short to build a full long-term assessment. The comparison set shows that its recent return is below the silver ETF fund of funds listed here, while the portfolio remains almost fully concentrated in one underlying gold ETF. That combination makes it best viewed as a focused, high-risk thematic allocation rather than a broad core holding.
Published on 15 September 2026 at 3:51 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.