Kotak Gold Silver Passive FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Kotak Gold Silver Passive FOF Direct Growth Plan currently has a NAV of ₹15.156 as of 16 September 2026 and an AUM of ₹1,141 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the scheme is tagged as High Risk. Our view is that this is a relatively new gold-and-silver fund-of-funds, so the recent move in NAV matters more than long history, but the current return record is still too short to build a strong track record case.
The portfolio is highly focused on two underlying precious-metals ETFs, which makes the fund’s behaviour closely tied to gold and silver moves rather than broad equity market trends. That can suit investors who want commodity-linked exposure and can accept sharp swings, but it also means the fund may behave very differently from a diversified equity-oriented mutual fund.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹15.156 as of 16 Sep 2026 |
| AUM | ₹1,141 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 28 Oct 2025 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Exit Load | No exit load |
| Fund Managers | Rohit Tandon, Abhishek Bisen |
The fund is managed by Rohit Tandon and Abhishek Bisen.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.74% | -4.41% |
| 3M | -3.23% | -3.6% |
| 1Y | 0% | Data not available |
| 3Y | 0% | Data not available |
| 5Y | 0% | Data not available |
The short-term pattern is mixed. Over 1 month, the fund declined less than the benchmark, which suggests it held up better in a weak phase. Over 3 months, both moved lower, but the fund’s decline was slightly smaller than the benchmark’s. That tells us the recent drift has not been smooth, yet it has not been more fragile than the index in the latest stretch.
The longer record is still very limited because the scheme launched on 28 October 2025. With 1-year, 3-year and 5-year returns all at 0%, the fund does not yet give us a meaningful long-horizon compounding history. In practice, that means investors should focus more on how the underlying gold and silver exposure behaves across cycles rather than on mature trailing-return evidence.
Relative to the benchmark, the fund looks slightly steadier in the near term but without any established longer-term return edge. That matters because a commodity-linked fund can show sharp moves over short windows, and the present record still leaves a lot of the story to be written. Our view is that the current performance profile is better read as early-stage behaviour than as a settled pattern.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Kotak Gold Silver Passive 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 Kotak Gold Silver Passive FOF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Kotak Gold Silver Passive FOF Direct Growth Plan | 0% | 0% | 0% |
| Baroda BNP Paribas Gold ETF FoF Direct Growth Plan | 34.39% | Data not available | Data not available |
| HDFC Innovation Fund Direct Growth Plan | 14.3% | Data not available | Data not available |
| Bajaj Finserv Small Cap Fund Direct Growth Plan | 13.33% | Data not available | Data not available |
| Quant Equity Savings Fund Direct Growth Plan | 8.75% | Data not available | Data not available |
| Kotak Active Momentum Fund Direct Growth Plan | 6.31% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The current fund’s 1-year figure is not meaningfully comparable with the stronger 1-year numbers shown by several peers, especially Baroda BNP Paribas Gold ETF FoF Direct Growth Plan. For the available 3-year and 5-year fields, the picture is not comparable because those peer values are unavailable, while the fund itself also shows 0% because it is too early in its life to build a longer record.
That creates two different stories: in the near term, the fund trails the better-performing peer return figures listed here, but in the longer view there is simply not enough history on either side to make a fair endurance comparison. For a reader, that means the fund currently looks more like a fresh allocation option than a scheme with a proven multi-year return profile.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Kotak Mutual Fund – Kotak Silver ETF | Domestic Mutual Funds Units – Silver | 49.83% |
| Kotak Mutual Fund – Kotak Gold ETF | Domestic Mutual Funds Units – Gold | 47.88% |
| Triparty Repo | Cash & Cash Equivalents and Net Assets | 2.51% |
The largest holding, Kotak Mutual Fund – Kotak Silver ETF, carries a weight of 49.83%, so it is likely to have the biggest influence on the scheme’s day-to-day movement. The second holding, Kotak Mutual Fund – Kotak Gold ETF, is close behind at 47.88%, which means the portfolio is built around two nearly equal precious-metals positions rather than around one dominant sleeve and a long tail.
The gap between the first and second holding is small, and the allocation then drops sharply to Triparty Repo at 2.51%. With only three disclosed holdings and a combined weight of 100%, the portfolio appears highly concentrated in the two underlying ETF exposures, with cash and cash equivalents playing only a minor balancing role. That structure may suit investors who want direct gold-silver exposure, but it also means there is little diversification inside the fund itself.
Source data date: as of 16 Sep 2026
Who should invest
This fund may suit investors who are comfortable with High Risk and are looking for commodity-linked exposure rather than broad equity diversification. The short-term return pattern has been somewhat less weak than the benchmark, but the fund has no meaningful long-term return history yet, so the main appeal is still structural exposure to gold and silver.
It is more relevant for an investor with a longer horizon and a clear tolerance for volatility, because precious-metals allocations can move differently from typical mutual-fund categories. The main trade-off is that the portfolio is tightly focused and may not provide the smoother, more familiar growth path that many diversified funds aim for.
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: No exit load.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Kotak Gold Silver Passive FOF Direct Growth Plan?
The NAV is ₹15.156 as of 16 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%.
How has the fund done versus the benchmark recently?
It fell less than the benchmark over 1 month and slightly less over 3 months. The benchmark figures for 1Y, 3Y and 5Y are not available in the comparable return table.
Which funds show stronger 1-year returns in the peer set?
Baroda BNP Paribas Gold ETF FoF Direct Growth Plan shows a 1-year return of 34.39%, while HDFC Innovation Fund Direct Growth Plan shows 14.3%, Bajaj Finserv Small Cap Fund Direct Growth Plan shows 13.33%, Quant Equity Savings Fund Direct Growth Plan shows 8.75% and Kotak Active Momentum Fund Direct Growth Plan shows 6.31%.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
What is the portfolio and exit-load profile?
The portfolio is concentrated in Kotak Silver ETF at 49.83% and Kotak Gold ETF at 47.88%, with Triparty Repo at 2.51%. There is no exit load, and the fund is managed by Rohit Tandon and Abhishek Bisen.
Bottom line
Kotak Gold Silver Passive FOF Direct Growth Plan is still an early-stage precious-metals fund-of-funds, so the current return history is too short to judge it like an established long-term scheme. Recent movements have been slightly less weak than the benchmark in the shorter windows, but the available peer return figures show stronger 1-year outcomes elsewhere. Its tightly focused mix of gold and silver ETFs makes the fund straightforward, but also concentrated, so it fits investors who specifically want metal-linked exposure and can accept High Risk and an uneven path.
Published on 17 September 2026 at 12:14 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.