Aditya Birla SL Gold Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL Gold Fund Direct Growth Plan currently has an NAV of ₹45.9728 as of 03 Sep 2026 and an AUM of ₹1,665 Cr. Its 1-year, 3-year and 5-year returns are 43.21%, 35.55% and 25.07%, and it carries a High Risk profile.

Our view is that the fund has delivered strong medium- to long-term compounding, while the recent 1-month and 3-month moves show that the path can still be uneven. With almost all of the portfolio in one gold ETF, the fund is best read as a focused gold exposure rather than a broad multi-asset solution.

Quick facts

Particular	Details
NAV	₹45.9728 as of 03 Sep 2026
AUM	₹1,665 Cr
Expense Ratio	0.2%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	1% on or before 15D, Nil after 15D
Fund Managers	Mehul Dama, Priya Sridhar

The fund is managed by Mehul Dama and Priya Sridhar.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	7.57%	-3.01%
3M	-1.81%	1.95%
1Y	43.21%	-4.4%
3Y	35.55%	5.74%
5Y	25.07%	6.27%

The recent picture is mixed. Over 1 month, the fund has been firm while the benchmark slipped, but the 3-month period was softer for the fund even as the benchmark stayed positive. That kind of split is consistent with a gold-linked structure, where short runs can swing around more than a plain equity benchmark.

Over 1 year, the fund has clearly outpaced the benchmark, while the benchmark itself has been negative. That makes the fund’s 1-year figure look more like a metal-led cyclical move than a steady equity-like climb. For an investor, that matters because the benchmark comparison shows the fund is not tracking the same return path as Nifty 50.

The 3-year and 5-year numbers are still strong, though both are lower than the 1-year print. Our view is that the fund has compounded well over the full cycle, but the rate of return has not been linear. The recent drawdown and rebound pattern in the shorter windows suggests that timing and sentiment around gold may continue to influence results more than broad-market direction.

Compared with the benchmark, the fund is ahead across the 1-year, 3-year and 5-year windows. That is a meaningful difference, but it should be read together with the risk profile and the fact that the scheme is a fund of fund with an underlying gold ETF exposure rather than an operating business portfolio.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD Aditya Birla SL Gold?

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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Aditya Birla SL Gold Fund Direct Growth Plan	43.21%	35.55%	25.07%
SBI Silver ETF FOF Direct Growth Plan	85.9%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	84.94%	43.28%	Data not available
Axis Silver FoF Direct Growth Plan	84.31%	43.7%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	84.1%	Data not available	Data not available
Aditya Birla SL Silver ETF FOF Direct Growth Plan	83.47%	43.31%	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 well below the silver FoF peers listed here, which all show much higher 1-year numbers. That gap does not change the fund’s own strong gain, but it does show that the recent move has been more modest than the silver-oriented peer set on this list.

On longer windows, the picture is more balanced. The fund’s 3-year return is lower than the available silver FoF figures, while the 5-year return is not directly comparable for most peers because several longer-term figures are unavailable. Taken together, the short-term comparison looks weaker, while the longer-term comparison is harder to judge cleanly because of the missing five-year peer figures.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Aditya Birla Sun Life Gold ETF	Domestic Mutual Funds Units – Gold	99.99%

The portfolio is almost entirely invested in a single holding, so the largest position is effectively the whole scheme at 99.99%. That makes the fund highly focused, and the underlying ETF is likely to drive nearly all day-to-day movement in the NAV.

Because only one holding is disclosed, there is no drop-off across a list of positions. The structure is concentrated rather than spread across multiple holdings, which means the fund may behave more like a pure commodity allocation than a diversified multi-holding basket.

With one disclosed holding out of one total holding, the portfolio is straightforward to read. The concentration also means the scheme could respond quickly to changes in gold prices, but it may also feel less diversified than equity or multi-asset funds.

Source data date: as of 03 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk exposure and want gold-led returns over a longer holding period. The 1-year gain is strong, but the 3-year and 5-year figures show that returns can rise and fall rather than move in a straight line.

The benchmark comparison also matters: the fund has outpaced Nifty 50 across the available windows, yet it does so through a very different return pattern and with almost complete portfolio concentration in one gold ETF. That makes it more appropriate as a specialist allocation than as a core equity substitute.

The main trade-off is clear. Investors may get meaningful participation in gold’s upside, but they also accept sharp short-term swings and limited diversification inside the scheme itself.

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 15D, Nil after 15D.

Source data date: as of 03 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Gold Fund Direct Growth Plan?

The current NAV is ₹45.9728 as of 03 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s 1-year return is 43.21%, its 3-year return is 35.55%, and its 5-year return is 25.07%.

How does the fund compare with Nifty 50?

The fund has beaten Nifty 50 across the 1-year, 3-year and 5-year windows. The comparison is not just about level of return; the path has also been different, because the fund is tied to gold exposure while the benchmark is an equity index.

How does it compare with the listed peer funds on 1-year return?

Its 1-year return of 43.21% is below the listed silver FoF peers in this comparison set. Several peers show 1-year returns above 83%, while the current fund remains meaningfully positive.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is its portfolio style?

The fund is managed by Mehul Dama and Priya Sridhar. Its portfolio is highly concentrated, with one disclosed holding accounting for 99.99% of the scheme.

Bottom line

Aditya Birla SL Gold Fund Direct Growth Plan has combined a strong 1-year gain with solid 3-year and 5-year returns, but the shorter-term path has been uneven. Compared with the listed peers here, its recent return is weaker on the available 1-year and 3-year numbers, while the five-year comparison is less complete. The scheme carries High Risk and is almost fully concentrated in one gold ETF, so it looks best suited to investors who want a focused gold allocation and can live with sharp swings.

Published on 4 September 2026 at 12:55 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.