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

Axis Gold Fund Direct Growth Plan has a current NAV of ₹47.9932 as of 08 Sep 2026 and a scheme AUM of ₹2,887 Cr. Its 1-year, 3-year and 5-year returns are 39.68%, 35.51% and 25.15% respectively, and the scheme is tagged as High Risk.

Our view is that this fund has rewarded investors well over longer periods, but its performance has also stayed uneven across shorter windows. The portfolio is fully concentrated in a single disclosed holding, so the fund is best understood as a focused gold allocation rather than a diversified multi-asset solution.

Quick facts

Particular	Details
NAV	₹47.9932 as of 08 Sep 2026
AUM	₹2,887 Cr
Expense Ratio	0.17%
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	Aditya Pagaria, Pratik Tibrewal

The fund is managed by Aditya Pagaria and Pratik Tibrewal.

Source data date: as of 08 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.76%	-3.86%
3M	0.46%	1.69%
1Y	39.68%	-5.72%
3Y	35.51%	6.3%
5Y	25.15%	6.05%

The recent picture is mixed, but still constructive. Over 1 month, the fund stayed positive while the benchmark was negative, which suggests the strategy held up better in the short run. Over 3 months, both moved in the same broad direction, but the fund’s gain was modest, so the short window does not point to a strong surge in momentum.

The larger story is visible in the 1-year, 3-year and 5-year numbers. The fund has stayed well ahead of the benchmark in each of those periods, which tells us the compounding profile has been stronger than the reference index over medium and longer horizons. That matters because a gold-linked fund can go through stretches of muted movement before a stronger phase emerges.

The pattern in the return path also looks uneven rather than linear. There were periods of pullback and recovery across the 3-year and 5-year stretches, but the broad direction over time has been upward. For investors, that means the fund has not behaved like a smooth defensive debt substitute; it has behaved more like a high-volatility commodity allocation that can add meaningfully when gold trends are supportive.

Compared with the benchmark, the key message is simple: the fund has delivered stronger medium-term and long-term outcomes, while recent short-term behaviour has been stable but not extraordinary. That combination can suit investors who are willing to accept swings in exchange for exposure to gold’s longer-cycle upside.

Source data date: as of 08 Sep 2026

Should you BUY or HOLD Axis 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
Axis Gold Fund Direct Growth Plan	39.68%	35.51%	25.15%
SBI Silver ETF FOF Direct Growth Plan	85.6%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	84.34%	45.67%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	83.09%	Data not available	Data not available
Axis Silver FoF Direct Growth Plan	82.78%	46.31%	Data not available
HDFC Silver ETF FoF Direct Growth Plan	82.41%	45.55%	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 return is lower than the silver-focused peer funds shown here, but its longer-term record is still solid on the data that is available. In 3-year terms, it trails the comparable silver FoF figures that are available, though not all peers have complete long-horizon figures. The short-term comparison and the longer-horizon comparison therefore tell slightly different stories: the recent one-year snapshot looks weaker against these peers, while the fund’s own medium-term track remains steady and clearly positive.

Source data date: as of 08 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Axis Gold ETF	Domestic Mutual Funds Units – Gold	100.02%

The portfolio is extremely concentrated in one disclosed holding, and that holding itself carries essentially the entire visible weight. In absolute terms, Axis Gold ETF at 100.02% means the fund’s outcome is likely to be driven mainly by the behaviour of that underlying gold ETF exposure.

Because only one holding is disclosed, there is no fall-off from a largest position to a tenth position in the usual sense. That makes the portfolio simple to read, but it also means there is very little diversification visible in the disclosed holding set.

Since the visible holdings account for 100% of the portfolio and the total disclosed holding count is 1, the fund appears highly concentrated rather than spread across a longer tail of positions. For an investor, that concentration could make the fund’s role in a portfolio easier to understand, but it may also mean the fund’s movement is closely tied to a single asset class theme.

Source data date: as of 08 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and who understand that gold-linked outcomes can move unevenly across market cycles. The 1-year, 3-year and 5-year returns show strong medium-term compounding, but the shorter-window performance is not perfectly smooth, so the ride can still be volatile.

It is more appropriate for a medium-to-long investment horizon than for a short-term parking place. Investors looking for benchmark-like stability may find the gap between the fund’s return pattern and the benchmark uncomfortable, while investors who want a dedicated gold allocation may see value in the clearer thematic exposure.

The main trade-off is concentration: the portfolio is effectively tied to a single disclosed gold ETF holding, so the fund offers clarity and focus rather than breadth. That can work for investors who want gold exposure inside a mutual-fund structure, but it demands comfort with asset-class swings.

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 08 Sep 2026

Frequently asked questions

What is the current NAV of Axis Gold Fund Direct Growth Plan?
Its NAV is ₹47.9932 as of 08 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 39.68% for 1 year, 35.51% for 3 years and 25.15% for 5 years.

How has the fund done against its benchmark?
It has outperformed the benchmark over 1 year, 3 years and 5 years. The benchmark returns are -5.72%, 6.3% and 6.05% for those periods.

How does it compare with the peer funds shown here?
Its 1-year return is below the silver FoF peers listed here, while its longer-horizon results remain positive and steady where data is available. The comparison does not tell one single story across every period.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?
Aditya Pagaria and Pratik Tibrewal manage the fund. The exit load is 1% on or before 15D, and nil after 15D.

Bottom line

Axis Gold Fund Direct Growth Plan looks like a focused gold allocation with a strong medium-term record and a clearer upward longer-term pattern than the benchmark. Its recent gains are positive but not especially dramatic, while the 1-year, 3-year and 5-year figures all sit comfortably above the benchmark’s shown returns. The portfolio is highly concentrated in one disclosed holding, so the fund’s role is thematic rather than diversified. That makes it better suited to investors who are comfortable with High Risk and want targeted gold exposure inside a mutual fund structure.

Published on 9 September 2026 at 1:26 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.