Groww Silver ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Groww Silver ETF FOF Direct Growth Plan has a NAV of ₹21.8134 as of 15 September 2026 and an AUM of ₹89 Cr. Its 1-year, 3-year and 5-year returns are 71.08%, 0% and 0%, respectively, and the scheme is tagged as High Risk. Our view is that this is best read as a high-volatility silver-linked allocation rather than a steady core holding, with the one-year surge standing in sharp contrast to the shorter recent soft patch.
The fund’s portfolio is almost fully concentrated in silver ETF exposure, so the main driver is the metal-led path rather than a broad equity-style mix. That can suit investors who understand the swings that come with commodity-linked returns and want a focused silver exposure in direct growth form.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹21.8134 as of 15 Sep 2026 |
| AUM | ₹89 Cr |
| Expense Ratio | 0.18% |
| Launch Date | 23 May 2025 |
| 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 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.97% | -4.81% |
| 3M | -8.98% | -3.63% |
| 1Y | 71.08% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The fund’s most recent month was weak, but it still held up better than the benchmark in that window. The three-month picture is less comfortable because the fund fell more than the benchmark, which tells us the recent move has not been smooth.
The one-year number changes the picture materially. The fund posted a strong 1-year return while the benchmark was negative, so the scheme has clearly benefited from the broader silver-led move over the past year. That said, the shorter windows show that the path has been uneven rather than linear.
We do not read the 3-year and 5-year figures as evidence of long history in this scheme because the fund is recent and those figures are not available here. So the more useful comparison is between the one-year surge and the weaker 1M and 3M stretches: the fund has delivered a strong longer span, but the near-term pattern still shows sharp swings.
For investors, that means the return profile is currently driven more by a powerful one-year run than by a stable, multi-year compounding record. The benchmark comparison also shows that the fund can diverge sharply from a broad equity index, which is expected for a silver-linked strategy.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Groww 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 Groww Silver ETF FOF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Groww Silver ETF FOF Direct Growth Plan | 71.08% | Data not available | Data not available |
| SBI Silver ETF FOF Direct Growth Plan | 75.06% | Data not available | Data not available |
| Kotak Silver ETF FoF Direct Growth Plan | 74.67% | 44.26% | Data not available |
| Axis Silver FoF Direct Growth Plan | 73.7% | 44.39% | 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.
On 1-year returns, this fund trails the stronger peer readings in the table, although the gap is not large. The same pattern appears in the shorter comparison set for 3-year figures where available: the fund has no disclosed 3-year number here, while peers with longer histories show mid-40% returns, which makes the current scheme look less established on that horizon.
The peer picture therefore splits into two parts. The short-term return is competitive but not leading, and the longer-term comparison is limited by the fund’s younger age. That makes the fund more useful for an investor assessing current silver exposure than for someone trying to compare a full multi-year track record across the group.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Groww Silver ETF | Domestic Mutual Funds Units – Silver | 99.02% |
| TREPS 01-Sep-2026 | Cash & Cash Equivalents and Net Assets | 1.43% |
The largest holding, Groww Silver ETF, accounts for 99.02% of the portfolio, so it is likely to have the strongest influence on returns. The cash and cash-equivalent sleeve is small at 1.43%, which tells us the scheme is designed to stay very close to its silver ETF exposure rather than hold a broader mix of assets.
Because the table discloses only two holdings, the portfolio appears highly concentrated and easy to read. The drop from the largest position to the second line is steep, which means the fund’s day-to-day movement may be driven primarily by the silver ETF position rather than by a diversified set of holdings.
The disclosed holdings account for 100% of the portfolio, so there is no visible long tail here. That concentration can be useful for investors who want a direct silver-linked outcome, but it also means the scheme may not provide the cushioning that comes from a wider asset spread.
Source data date: as of 15 Sep 2026
Who should invest
This fund suits investors who can tolerate High Risk and are comfortable with sharp moves linked to silver prices. The recent one-year jump is attractive, but the weaker 1M and 3M figures show that the path can be uneven, so a shorter horizon may be frustrating.
We think it is more appropriate for investors with a medium-to-long view who want silver exposure inside a direct growth structure rather than a diversified multi-asset fund. The main trade-off is simple: you are accepting concentrated metal-driven volatility in exchange for the possibility of strong upside when the silver cycle is favourable.
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% on or before 30 days; nil after 30 days.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Groww Silver ETF FOF Direct Growth Plan?
The current NAV is ₹21.8134 as of 15 September 2026.
How has the fund performed over 1 year, 3 years and 5 years?
Its 1-year return is 71.08%, while the 3-year and 5-year returns are not available here. The recent 1-year figure is much stronger than the short-term 1M and 3M readings.
How does the fund compare with the benchmark?
It outperformed the benchmark over 1 year, but it lagged the benchmark over 3 months and was slightly better than the benchmark over 1 month. That points to a return pattern that has been strong over the longer recent span but choppy in the very near term.
How does it compare with peer silver FoFs on 1-year returns?
Its 1-year return of 71.08% is below several peer figures shown here, including SBI Silver ETF FOF Direct Growth Plan at 75.06%, Kotak Silver ETF FoF Direct Growth Plan at 74.67% and Axis Silver FoF Direct Growth Plan at 73.7%.
Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹500.
What are the key risk and portfolio features?
The scheme is marked High Risk and is heavily concentrated in Groww Silver ETF, which holds 99.02% of the portfolio. The exit load is 1% on or before 30 days and nil after 30 days, and the fund is managed by Wilfred Gonsalves and Ameya Sakpal.
Bottom line
Groww Silver ETF FOF Direct Growth Plan has shown a strong 1-year run, but the shorter 1M and 3M results remind us that the journey can be volatile. Compared with peers, its recent return is competitive but not the strongest, while the longer-history comparison is limited by the fund’s age. The portfolio is almost entirely tied to Groww Silver ETF, so the scheme is highly focused and may suit investors who want concentrated silver exposure and can accept the High Risk profile that comes with it.
Published on 16 September 2026 at 4:42 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.