LIC MF Gold ETF FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

LIC MF Gold ETF FoF Direct Growth Plan closed at ₹41.9569 as of 04 Sep 2026. The scheme manages ₹775 Cr, and its 1-year, 3-year and 5-year returns are 43.37%, 36.09% and 25.68% respectively. With a High Risk profile, it suits investors who can accept sharp swings in a gold-linked strategy and want exposure that may behave differently from equity-oriented funds.

Our view is that the fund has delivered strong medium- to long-term compounding, but the most recent shorter stretch has been less smooth. The portfolio is extremely concentrated, with almost all of the disclosed holdings in a single gold-related position, so the fund is best assessed as a tactical allocation rather than a diversified core holding.

Quick facts

Particular	Details
NAV	₹41.9569 as of 04 Sep 2026
AUM	₹775 Cr
Expense Ratio	0.32%
Launch Date	01 Jan 2013
Min SIP	₹200
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	1% on or before 15D, Nil after 15D
Fund Managers	Sumit Bhatnagar, Sasikant Aravamuthan

The fund is managed by Sumit Bhatnagar and Sasikant Aravamuthan.

Source data date: as of 04 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	6.70%	-2.95%
3M	-0.46%	2.27%
1Y	43.37%	-4.43%
3Y	36.09%	5.88%
5Y	25.68%	6.29%

The fund’s recent 1-month move is notably stronger than the benchmark, while the 3-month stretch is slightly softer. That combination tells us the path has not been linear, even though the broader 1-year outcome remains very strong. The time pattern also suggests that the fund can move quickly in both directions over short windows, which is important for anyone looking only at recent momentum.

Over 1 year, the fund has clearly outpaced the benchmark by a wide margin. The 3-year and 5-year figures also remain well ahead of the benchmark, which shows that the longer compounding trend has been positive rather than a one-off surge. At the same time, the benchmark’s lower but steadier figures underline how different this allocation is from a broad market holding.

Our read-through is that the fund has rewarded patience more than short-term timing. The 3-year and 5-year numbers are much more useful than any single short patch because they better capture the fund’s trend and its swings. For investors comparing it with an equity benchmark, the gap is large enough to matter, but the risk pattern is also materially different.

Source data date: as of 04 Sep 2026

Should you BUY or HOLD LIC MF 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
LIC MF Gold ETF FoF Direct Growth Plan	43.37%	36.09%	25.68%
SBI Silver ETF FoF Direct Growth Plan	88.25%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	87.26%	44.88%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	86.25%	Data not available	Data not available
Axis Silver FoF Direct Growth Plan	86.10%	45.01%	Data not available
Aditya Birla SL Silver ETF FOF Direct Growth Plan	85.33%	44.71%	Data not available

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

On a 1-year view, the fund trails the silver-focused peer set listed here, where the peer returns are materially higher. That said, the comparison becomes more balanced over longer horizons because the fund’s 3-year return is strong and the 5-year return remains solid. The short-term and longer-term pictures therefore do not tell the same story: recent peer figures look much stronger, while the fund’s own multi-year trend still supports a constructive view of its gold-linked compounding.

Source data date: as of 04 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
LIC Mutual Fund	Domestic Mutual Funds Units – Gold	99.99%

The disclosed portfolio is effectively concentrated in one holding, and that single position carries 99.99% weight. In absolute terms, that means the fund’s day-to-day profile is likely to be dominated by the movement of that underlying gold exposure rather than by a spread of separate bets.

Because only one holding is disclosed, the weight does not fall away from the largest position to a tenth position; there is no long tail in the visible portfolio. That makes the structure easy to understand, but it also means there is very little diversification within the disclosed allocation. The fund is therefore likely to reflect the behaviour of the underlying gold-linked instrument quite closely.

With just one disclosed holding out of one total holding row, the concentration is total within the visible portfolio. The top holding’s near-full weight may contribute to sharper tracking of the underlying asset, and it also means investors should expect the fund’s behaviour to be driven by a single source of risk and return rather than a broad basket.

Source data date: as of 04 Sep 2026

Who should invest

This fund is better suited to investors who can handle High Risk and are comfortable with a gold-linked allocation that can move sharply over short periods. The 1-year result is strong, but the 3-month pattern and the concentrated portfolio show that the path can be uneven.

A longer investment horizon makes more sense here because the 3-year and 5-year figures are the better guide to how the strategy has behaved over time. Investors who want a diversifying sleeve rather than a broad market holding may find that useful, but the trade-off is clear: concentrated exposure and benchmark-different behaviour in exchange for the potential of stronger long-run compounding.

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 04 Sep 2026

Frequently asked questions

What is the current NAV of LIC MF Gold ETF FoF Direct Growth Plan?

The current NAV is ₹41.9569 as of 04 Sep 2026.

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

The 1-year return is 43.37%, the 3-year return is 36.09%, and the 5-year return is 25.68%.

How does it compare with the benchmark?

It has outpaced the Nifty 50 over 1 year, 3 years and 5 years. The benchmark returns for those periods are -4.43%, 5.88% and 6.29%.

How does it compare with the peer funds listed here?

On the 1-year figures shown, the peer silver-focused funds have higher returns than this fund. Over 3 years and 5 years, the picture is mixed because several peers do not have long-term figures available, while the current fund still shows strong multi-year performance.

Is there a minimum SIP amount?

Yes, the minimum SIP amount is ₹200.

Who manages the fund and what is the exit load?

The fund is managed by Sumit Bhatnagar and Sasikant Aravamuthan. The exit load is 1% on or before 15 days and nil after 15 days.

Bottom line

LIC MF Gold ETF FoF Direct Growth Plan has a stronger long-term return profile than its benchmark, while the recent 3-month stretch shows that short-term movement can be uneven. In the peer set shown here, the 1-year return is lower than the silver-focused comparables, but the fund’s own 3-year and 5-year results remain healthy. The portfolio is highly concentrated, which makes it a clear single-theme exposure. That mix suits investors who want a High Risk allocation with a long horizon and can accept sharp swings for the possibility of stronger multi-year compounding.

Published on 5 September 2026 at 5:09 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.