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

HSBC Gold ETF FOF Direct Growth Plan has a NAV of ₹10.3822 as of 16 September 2026 and a scheme AUM of ₹394 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0%, and 0%, and the fund sits in the High Risk category. Our view is that this is a niche exposure rather than a core equity-style holding: the portfolio is almost fully tied to a single gold-fund holding, and the recent return pattern has been close to flat with modest movement.

For investors who want gold-linked allocation through a fund-of-funds structure, the appeal is straightforward exposure and a low expense ratio of 0.0%. The trade-off is that the fund has only a short live history, so the return record is still limited, and its behaviour will matter more for diversification than for growth-seeking allocation.

Quick facts

Particular	Details
NAV	₹10.3822 as of 16 Sep 2026
AUM	₹394 Cr
Expense Ratio	0.0%
Launch Date	30 Mar 2026
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 15D, Nil after 15D
Fund Managers	Dipan Parikh

The fund is managed by Dipan Parikh.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.23%	-4.41%
3M	0.72%	-3.6%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern has been choppy rather than directional. Over one month, the fund was slightly negative, but it still held up better than the benchmark, which fell more sharply. Over three months, the fund moved back into positive territory while the benchmark remained negative, which suggests the scheme has been more resilient than the comparison index in the latest stretch.

The longer view is less informative because the fund launched only on 30 March 2026, so the 1-year, 3-year and 5-year return fields are not yet available in a meaningful sense. That makes the short history important: the fund has not shown a long compounding record yet, and investors are mainly looking at how it behaves across a few months rather than across market cycles.

On the available numbers, the fund has generally tracked with better short-term stability than the benchmark. That does not make the path smooth, because the 1-month figure was still negative, but it does suggest the fund has not simply mirrored the benchmark’s weaker recent move.

Source data date: as of 16 Sep 2026

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

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Peer comparison

Fund	1Y return	3Y return	5Y return
HSBC Gold ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Axis Gold and Silver Passive FoF Direct Growth Plan	Data not available	Data not available	Data not available
Bandhan Silver ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
The Wealth Company Gold ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available return figures, the fund’s recent numbers are more resilient than the benchmark, but the peer set does not provide a useful differentiation on 1-year, 3-year or 5-year outcomes. That means the short-term comparison is easier to read than the longer-term one, and the fund’s story is still mostly about its current behaviour rather than a mature performance record.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HSBC Mutual Fund	Domestic Mutual Funds Units – Gold	99.17%
TREPS	Cash & Cash Equivalents and Net Assets	1.47%

The largest holding is extremely dominant at 99.17%, so the fund’s day-to-day movement is likely to be driven mainly by that single exposure. TREPS at 1.47% is a very small cash-like buffer, which leaves little room for diversification inside the disclosed portfolio.

Because there are only two disclosed holdings and the combined disclosed weight is 100%, the portfolio is highly concentrated rather than spread across many positions. That concentration may make the fund cleaner as a gold-linked vehicle, but it also means there is very limited internal balance across securities.

With the largest weight already near the full portfolio, the drop-off from the first holding to the second is steep. In practical terms, the second position may influence liquidity and cash management more than overall return behaviour.

Source data date: as of 16 Sep 2026

Who should invest

This fund may suit investors who are comfortable with High Risk and want gold exposure rather than an equity-style growth engine. The short live history means the return pattern is still developing, so a longer horizon is more sensible than a short tactical trade. The fund has recently held up better than the benchmark in the available windows, but the trade-off is that long-term performance history is not yet in place. The concentrated portfolio structure also means the fund is best understood as a focused allocation, not a diversified multi-asset solution.

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 16 Sep 2026

Frequently asked questions

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

The current NAV is ₹10.3822 as of 16 September 2026.

What are the fund’s recent returns?

The 1-month return is -1.23% and the 3-month return is 0.72%. The 1-year, 3-year and 5-year return fields are not available in a meaningful way yet.

How has it compared with the benchmark recently?

It has done better than the benchmark in the available short windows. Over 1 month, the fund was less negative than the benchmark, and over 3 months it was positive while the benchmark stayed negative.

How does it compare with the peer funds listed here?

The peer comparison does not separate the funds on 1-year, 3-year or 5-year figures because those return fields are not available in a meaningful way for the group shown. The short-term picture is therefore more useful than a longer-term peer read.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?

The fund is managed by Dipan Parikh. The exit load is 1% on or before 15 days and nil after 15 days.

Bottom line

HSBC Gold ETF FOF Direct Growth Plan has a short performance history, so the recent month-by-month pattern matters more than any long-run track record. On the available windows, it has behaved more steadily than the benchmark, while the peer set does not yet add much separation on longer horizons. The portfolio is tightly concentrated, with one holding accounting for almost the entire structure, which makes the fund a focused gold-linked exposure rather than a diversified equity substitute. That profile may suit investors looking for a narrow allocation with High Risk characteristics.

Published on 17 September 2026 at 4:14 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.