Mirae Asset Gold ETF FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 15, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mirae Asset Gold ETF FoF Direct Growth Plan has a NAV of ₹19.089 as of 11 September 2026 and a scheme AUM of ₹628 Cr. Its 1-year, 3-year and 5-year returns are 37.96%, 0% and 0%, and the fund sits in the High Risk category. Our view is that this is a narrow gold-linked allocation with a sharp recent run, but the short track record and the benchmark comparison make it more suitable for investors who can tolerate a volatile path.
The fund is organised as a direct-growth gold ETF fund of funds, so the portfolio is concentrated by design. That can help investors express a gold view without holding physical gold, but it also means performance can move differently from broad equity benchmarks.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹19.089 as of 11 Sep 2026 |
| AUM | ₹628 Cr |
| Expense Ratio | 0.12% |
| Launch Date | 25 Oct 2024 |
| Min SIP | ₹99 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Others |
| Exit Load | 0.05% on or before 15D, Nil after 15D |
| Fund Managers | Ritesh Patel, Akshay Udeshi |
The fund is managed by Ritesh Patel and Akshay Udeshi.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.92% | -3.66% |
| 3M | 1.09% | -1.91% |
| 1Y | 37.96% | -7.62% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is constructive. The fund was slightly negative over 1 month, but it held up better than the benchmark in the same window and also stayed ahead over 3 months. That suggests the fund’s gold-linked exposure has been stronger than the broad equity benchmark in the near term.
The 1-year figure is much stronger than the benchmark’s negative 1-year return, which points to a clear divergence in behaviour. This does not make the fund less volatile; it means the recent gold cycle has worked in its favour while the benchmark has struggled.
There is no 3-year or 5-year return history available here because the scheme is young. That short history matters. We can assess the recent compounding pattern, but we cannot treat it as a full-cycle record yet.
For investors, the key takeaway is that the fund has tracked a very different return path from the benchmark. The near-term and 1-year numbers are ahead, but the lack of longer-term history means the recent outperformance should be viewed as a phase, not a completed track record.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD Mirae Asset 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 Mirae Asset Gold ETF FoF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mirae Asset Gold ETF FoF Direct Growth Plan | 37.96% | Data not available | Data not available |
| DSP Silver ETF FoF Direct Growth Plan | 79.99% | Data not available | Data not available |
| ICICI Pru Silver ETF FOF Direct Growth Plan | 78.87% | 44.86% | Data not available |
| UTI Silver ETF FoF Direct Growth Plan | 78.79% | 44.94% | Data not available |
| Tata Silver ETF FoF Direct Growth Plan | 76.13% | Data not available | Data not available |
| UTI Gold ETF FoF Direct Growth Plan | 38.25% | 36.06% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return is close to UTI Gold ETF FoF Direct Growth Plan and clearly below the silver ETF FoFs in the peer set. That is consistent with the fact that gold and silver have not moved in lockstep. On the longer end, the only available 3-year peer figures sit well above this fund’s young history, but they belong to older schemes, so the comparison is directional rather than direct.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Mirae Asset Gold ETF | Domestic Mutual Funds Units – Gold | 100.12% |
The portfolio is fully concentrated in one disclosed holding, so the underlying gold ETF is likely to have the strongest influence on returns. With a 100.12% displayed weight for the single holding, the scheme clearly does not spread exposure across a long list of securities in the way an equity fund might.
That concentration also means there is no visible step-down across multiple holdings to assess. The structure is simple: one underlying gold ETF drives the fund’s outcome, and that may make the return profile easier to understand but also more dependent on one asset theme.
Since the table shows only one disclosed holding and the fund has 1 holding disclosed in total, the portfolio is as compact as it can be in this format. That suggests concentration rather than diversification, which is consistent with a fund of funds built around a single gold ETF.
Source data date: as of 11 Sep 2026
Who should invest
This fund fits investors who can accept High Risk and who want a gold-linked allocation rather than a broad market exposure. The recent return pattern is strong, and it has been ahead of the Nifty 50 benchmark over 1 month, 3 months and 1 year, but the scheme history is short and the benchmark comparison is not a substitute for a longer full-cycle record.
The better fit is a medium- to long-term investor who is using gold as a diversification tool, not as a core growth engine. The main trade-off is simple: the portfolio is concentrated in a single gold ETF, so the fund can move sharply with the gold theme even when equity markets behave differently.
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 is 0.05% if units are sold on or before 15 days, and nil after 15 days.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of Mirae Asset Gold ETF FoF Direct Growth Plan?
The NAV is ₹19.089 as of 11 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 37.96%, while the 3-year and 5-year returns are Data not available.
How has the fund performed versus the benchmark?
It has outpaced the Nifty 50 benchmark over 1 month, 3 months and 1 year. The benchmark was negative across those same periods, while this fund stayed positive over 3 months and 1 year.
How does it compare with peer funds on available return data?
Its 1-year return is close to UTI Gold ETF FoF Direct Growth Plan and below the silver ETF FoFs in the peer set. The available 3-year peer figures are higher, but they belong to older schemes with a longer history.
What is the minimum SIP amount?
The minimum SIP amount is ₹99.
Who manages the fund and what is the exit load?
The fund is managed by Ritesh Patel and Akshay Udeshi. Exit load is 0.05% if units are sold on or before 15 days, and nil after 15 days.
Bottom line
Mirae Asset Gold ETF FoF Direct Growth Plan has a strong recent return profile, but its short history means the longer-term picture is still developing. It has held up better than the Nifty 50 benchmark over the displayed periods, and its 1-year return is competitive with another gold FoF while trailing the silver FoFs in the peer set. The single-holding structure keeps the portfolio straightforward, but it also concentrates the outcome in one gold ETF.
Published on 15 September 2026 at 3:48 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.