Angel One Gold ETF FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Angel One Gold ETF FOF Direct Growth Plan last published a NAV of ₹13.6061 as of 02 Sep 2026, with scheme AUM of ₹32 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the scheme carries a High Risk profile. Our view is that this is a niche gold-oriented fund-of-fund structure whose near-term behaviour has improved from the recent low but still lacks a long performance history, so it fits investors who want gold exposure through a mutual-fund wrapper and are comfortable with sharp price swings.

The fund’s recent move has been better than its benchmark over the short window we can observe, but the longer return record is still too short to build a strong compounding case. The portfolio is almost entirely in one holding, so the outcome is likely to track that underlying gold ETF closely.

Quick facts

Particular	Details
NAV	₹13.6061 as of 02 Sep 2026
AUM	₹32 Cr
Expense Ratio	0.18%
Launch Date	10 Sep 2025
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	No exit load
Fund Managers	Kewal Shah

The fund is managed by Kewal Shah.

Source data date: as of 02 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	5.33%	-3.47%
3M	-3.03%	2.17%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-window numbers show a sharp difference in behaviour between the fund and the benchmark. Over 1 month, the fund moved ahead while the benchmark was negative, which points to a stronger rebound in the fund’s underlying exposure during that stretch. Over 3 months, the pattern flipped, with the fund slipping while the benchmark posted a gain.

That mixed short-term picture matters because the scheme is still very new. The 1-month improvement suggests momentum can change quickly, but the 3-month decline shows the ride is not smooth. For a gold-linked fund-of-fund, that kind of stop-start pattern is more useful as a reminder of volatility than as a sign of steady compounding.

Because the fund was launched only in September 2025, the 1-year, 3-year and 5-year figures are not available in a meaningful historical sense here. That means we should not stretch the available evidence too far. At this stage, the most defensible read is that the fund has shown recent resilience in one short window but has not yet built a long record that allows us to judge durability against the benchmark.

Source data date: as of 02 Sep 2026

Should you BUY or HOLD Angel One 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 Angel One Gold ETF FOF? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Angel One Gold ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
SBI Silver ETF FOF Direct Growth Plan	83.57%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	82.38%	42.45%	Data not available
Axis Silver FoF Direct Growth Plan	81.6%	42.75%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	81.53%	Data not available	Data not available
Aditya Birla SL Silver ETF FOF Direct Growth Plan	80.93%	42.42%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s short-term return picture is not directly comparable with the silver-focused peer set because the scheme does not yet have a meaningful 1-year record in the displayed history. Among peers with available 1-year data, the silver funds have shown much stronger recent gains, while this gold fund-of-fund has a newer and more limited track record.

For longer horizons, the comparison remains constrained by missing history on the current fund. Some peers have 3-year figures, but this scheme does not, so we can only say that the peer set already shows multi-year history where the current fund does not. That makes the short-term and longer-term comparisons tell different stories: peers demonstrate completed multi-year runs, while this scheme is still in its early phase.

Source data date: as of 02 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Angel One Gold ETF	Domestic Mutual Funds Units – Gold	99.88%

The portfolio is extremely concentrated, with Angel One Gold ETF accounting for 99.88% of the disclosed holdings. In practical terms, that means the fund’s day-to-day movement is likely to be driven mainly by that single underlying exposure.

Because only one holding is disclosed, there is no spread across a longer tail in the visible portfolio. This concentration can simplify the exposure story, but it also means the fund may behave very closely to the underlying ETF rather than offering meaningful diversification across multiple positions.

With one holding disclosed out of one, the portfolio is transparent but not broad. That structure may suit investors who want a focused gold exposure through a fund-of-fund format and are comfortable with the fact that there is little internal offset from other positions.

Source data date: as of 02 Sep 2026

Who should invest

This fund is better suited to investors who can accept High Risk and who are using it as a focused gold allocation rather than a core growth holding. The available return pattern does not yet show a stable long-term track record, so a longer horizon is important if the goal is to smooth out short-term swings.

The benchmark comparison is mixed in the short windows we can observe, which suggests the ride may be uneven rather than consistently ahead of or behind the market. The main trade-off is simple: you get a concentrated, gold-linked exposure through a mutual-fund structure, but you give up diversification inside the scheme and should expect the price path to remain choppy.

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 02 Sep 2026

Frequently asked questions

What is the current NAV of Angel One Gold ETF FOF Direct Growth Plan?

The current NAV is ₹13.6061 as of 02 Sep 2026.

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

The 1-year, 3-year and 5-year returns are Data not available, Data not available and Data not available in the displayed history.

How has the fund done against the benchmark recently?

Over 1 month, the fund returned 5.33% while the benchmark returned -3.47%. Over 3 months, the fund returned -3.03% while the benchmark returned 2.17%.

How does it compare with peer funds on available return data?

The peer set includes several silver ETF FoF schemes with much stronger 1-year figures, while this fund’s newer track record does not yet provide comparable long-history return data.

What is the exit load?

There is no exit load on this scheme.

Who manages the fund and what is the minimum SIP?

The fund is managed by Kewal Shah. The minimum SIP is not stated in the available fund details, so it is not shown here.

Bottom line

Angel One Gold ETF FOF Direct Growth Plan is a high-risk, concentrated gold-focused fund-of-fund with a very short history and a mixed recent pattern. Its short-window performance has been uneven relative to the benchmark, and the lack of long-term history means the case is more about exposure than proven compounding. The portfolio is almost fully tied to one underlying gold ETF, so investors should expect a focused rather than diversified outcome.

Published on 3 September 2026 at 6:55 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.