Aditya Birla SL Silver ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Aditya Birla SL Silver ETF FOF Direct Growth Plan has a NAV of ₹35.4993 as of 16 September 2026 and a scheme AUM of ₹1,295 Cr. Its 1-year, 3-year and 5-year returns are 72.39%, 44% and 0%, and the fund is tagged High Risk. Our view is that it fits investors who want silver-linked exposure through a fund of fund structure and can tolerate sharp swings, especially because the recent return profile has been uneven while the longer run remains strong.
The fund’s benchmark-linked history is mixed: it has stayed well ahead of the benchmark over 1 year and 3 years, but the shorter windows have softened after a strong run. With a very concentrated portfolio and a low expense ratio, it looks better suited to investors who understand the volatility that can come with precious-metal themes than to those looking for steady, broad-market style compounding.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹35.4993 as of 16 Sep 2026 |
| AUM | ₹1,295 Cr |
| Expense Ratio | 0.3% |
| Launch Date | 03 Feb 2022 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Fund of Fund |
| Exit Load | 0.50% on or before 30D, Nil after 30D |
| Fund Managers | Mehul Dama, Priya Sridhar |
The fund is managed by Mehul Dama and Priya Sridhar.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.25% | -4.41% |
| 3M | -6.96% | -3.6% |
| 1Y | 72.39% | -7.76% |
| 3Y | 44% | 5.74% |
| 5Y | Data not available | Data not available |
The recent picture is softer than the one-year number suggests. Over 1 month and 3 months, the fund has fallen, even though it still held up better than the benchmark in the latest month and worse than the benchmark over 3 months. That tells us the path has not been smooth, which matters for anyone expecting silver exposure to rise in a straight line.
The 1-year return remains the standout figure at 72.39%, and it is far above the benchmark’s -7.76% for the same period. That gap shows the fund captured the stronger phase in the underlying theme very effectively. At the 3-year mark, the fund’s 44% return is still ahead of the benchmark’s 5.74%, so the medium-term trend is supportive even after the more recent pullback.
The series pattern also suggests a fund that can move quickly in both directions. The 1-year path includes a strong rise, a sharp dip and then a renewed climb, while the 3-year path shows a broader advance with several reversals along the way. Our view is that the return profile reflects theme-driven volatility rather than stable, benchmark-like progression.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Aditya Birla SL Silver 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 Aditya Birla SL Silver ETF FOF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Aditya Birla SL Silver ETF FOF Direct Growth Plan | 72.39% | 44% | Data not available |
| SBI Silver ETF FOF Direct Growth Plan | 76.71% | Data not available | Data not available |
| Kotak Silver ETF FoF Direct Growth Plan | 75.91% | 45.12% | Data not available |
| Axis Silver FoF Direct Growth Plan | 74.42% | 45.18% | Data not available |
| Zerodha Silver ETF FoF Direct Growth Plan | 73.46% | Data not available | Data not available |
| Nippon India Silver ETF FOF Direct Growth Plan | 72.65% | 43.94% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
Against the peer set, the fund’s 1-year return is close to the middle of the group and sits a little below the stronger recent numbers posted by SBI Silver ETF FOF Direct Growth Plan and Kotak Silver ETF FoF Direct Growth Plan. The gap is small enough that the story is more about tight clustering than about a large difference in recent performance.
On the 3-year horizon, the fund’s 44% return is also broadly in line with the peers that have 3-year figures available, though slightly below Kotak Silver ETF FoF Direct Growth Plan and Axis Silver FoF Direct Growth Plan. That means the fund has participated well in the multi-year move, but it has not meaningfully separated itself from the peer group on the longer window.
The short-term and longer-term comparisons do not tell opposite stories; they both point to a competitive silver-themed fund, with the difference between funds remaining modest. The main distinction is that some peers have shown a marginally stronger 1-year run, while the current fund still holds up well on the 3-year view.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Aditya Birla Sun Life Silver ETF | Domestic Mutual Funds Units – Silver | 99.99% |
With a single disclosed holding at 99.99%, the portfolio is extremely concentrated in one underlying silver ETF. That means the fund’s performance is likely to be driven primarily by the movement of that one instrument rather than by a spread of different securities.
The disclosed holding count is just 1, so there is no long tail of positions to dilute the main exposure. Because the top holding already accounts for nearly the entire disclosed portfolio, the fund may behave much more like a direct silver theme expression than a diversified multi-security portfolio.
That concentration can make the fund simple to understand, but it also means the portfolio does not provide much internal offset if the underlying silver ETF turns volatile. For investors, the key point is that the fund’s risk and return profile is closely tied to one dominant holding.
Source data date: as of 16 Sep 2026
Who should invest
This fund suits investors who can accept High Risk and want silver-linked exposure through a fund of fund structure. The strongest fit is for those with a medium-to-long investment horizon who are comfortable with sharp swings and do not need the return path to be smooth.
The 1-year and 3-year figures show that the fund has participated well in the silver theme, while the shorter windows show that drawdowns can still arrive quickly. Compared with the benchmark, the fund has delivered much better medium-term results, and compared with peers it remains broadly competitive on available return data.
The main trade-off is simple: you are accepting theme concentration and volatility in exchange for the chance to benefit from moves in silver prices. This is less suitable for capital preservation or near-term goals, and more suitable for investors who already understand precious-metal exposure.
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: 0.50% on or before 30 days; nil after 30 days.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Aditya Birla SL Silver ETF FOF Direct Growth Plan?
The current NAV is ₹35.4993 as of 16 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 72.39% and its 3-year return is 44%. The 5-year return is Data not available.
How has it performed versus the benchmark?
It has done much better than the benchmark over 1 year and 3 years. The benchmark return is -7.76% over 1 year and 5.74% over 3 years.
How does it compare with peer silver FoF schemes on recent returns?
Its 1-year return is broadly in line with the peer group, though several peers are slightly higher. On the 3-year view, the fund is also competitive, with only small differences across the funds that have 3-year figures available.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
What is the portfolio like and who manages the fund?
The portfolio is highly concentrated, with one disclosed holding accounting for 99.99% of the portfolio. The fund is managed by Mehul Dama and Priya Sridhar.
Bottom line
The fund’s recent performance is softer than its standout 1-year return, but the 3-year number still shows meaningful medium-term strength. Compared with peers, it remains broadly competitive on the available return figures rather than clearly separated from the group. The High Risk label and the single-holding portfolio both point to a concentrated silver-theme exposure, so the fund is best understood as a volatility-tolerant allocation rather than a steady core holding.
Published on 17 September 2026 at 1:18 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.