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

LIC MF Gold ETF FoF Direct Growth Plan had a NAV of ₹41.3969 as of 09 Sep 2026, with an AUM of ₹858 Cr. Its 1-year, 3-year and 5-year returns are 25.53%, 35.72% and 25.48%, and the scheme sits in the High Risk category. Our view is that this is a focused gold-linked fund of fund with strong medium-term numbers, but its fit is better for investors who accept pronounced swings rather than those seeking steady equity-like or cash-like behaviour.

The combination of a concentrated portfolio and a high-risk profile means it may suit a satellite allocation more than a core holding. The benchmark context also matters: the fund has outpaced the benchmark across the displayed periods, while the short-term path has still been uneven.

Quick facts

Particular	Details
NAV	₹41.3969 as of 09 Sep 2026
AUM	₹858 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 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.62%	-4.69%
3M	3.16%	0.93%
1Y	25.53%	-7.16%
3Y	35.72%	6%
5Y	25.48%	5.87%

The recent pattern is uneven, but it has stayed positive over the shorter windows. The 1-month and 3-month figures show that gains have continued, although the pace is not linear. That is typical of a gold-linked holding that can move in bursts rather than in a smooth upward line.

Over 1 year, the fund has done much better than the benchmark, while the benchmark itself is negative over that period. That gap tells us the fund has not simply moved with the equity market backdrop represented by Nifty 50; it has followed a very different return path.

The longer record is stronger still. The 3-year return is higher than the 1-year figure, which suggests that the medium-term compounding phase has been more rewarding than the most recent year alone. The 5-year return remains solid and comfortably ahead of the benchmark, but it is lower than the 3-year pace, so the recent run has not matched the sharper earlier compounding.

Our view is that the fund has shown resilience across multiple windows, but investors should expect periodic reversals. The time pattern suggests a holding that can recover well over cycles, even though shorter periods may look choppy.

Source data date: as of 09 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	25.53%	35.72%	25.48%
SBI Silver ETF FOF Direct Growth Plan	84.9%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	84.03%	46.21%	Data not available
Nippon India Silver ETF FOF Direct Growth Plan	83.29%	46.02%	Data not available
Zerodha Silver ETF FOF Direct Growth Plan	82.53%	Data not available	Data not available
Aditya Birla SL Silver ETF FOF Direct Growth Plan	82.46%	45.91%	Data not available

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

On 1-year numbers, the current fund trails the silver-focused peers by a wide margin, even though it has delivered a positive return. That difference reflects the very different behaviour of gold and silver strategies over the same period.

Over 3 years, the fund’s return is lower than the available silver peer figures, while the 5-year figure is also below the current fund’s 3-year pace. The short-term and longer-term comparison therefore tell different stories: the fund is steady in its own context, but the silver peers have shown much stronger recent momentum where figures are available.

Because the peer set itself is concentrated in silver ETF FOFs, the comparison is useful for reading return ranges rather than for treating the group as a like-for-like portfolio match.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
LIC Mutual Fund	Domestic Mutual Funds Units – Gold	99.93%

The portfolio is extremely concentrated, with the single disclosed holding at 99.93%. That means the fund’s outcome is likely to be driven almost entirely by this gold exposure, and there is very little visible diversification at the holding level.

Because only one holding is disclosed, the weight does not fall away across a list of positions; instead, the structure is effectively a single-exposure portfolio. The disclosed total holding count is one, so the listed holding already covers the whole visible portfolio.

Our view is that this concentration can make the fund behave more directly like its underlying gold position, which may appeal to investors who want a clean exposure rather than a blended asset mix. At the same time, it also means the fund has limited diversification cushion within the holding list.

Source data date: as of 09 Sep 2026

Who should invest

This fund fits investors who can tolerate High Risk and are comfortable with sharp changes in returns. The 1-year, 3-year and 5-year record shows that performance has been strong over multiple windows, but not in a smooth straight line, so a patient horizon matters.

It may suit investors looking for gold-linked exposure as a diversifier rather than as a core growth engine. The main trade-off is straightforward: you get focused participation in a single theme, but you must accept that short-term behaviour can be choppy and benchmark comparison is not the same as an equity-style return profile.

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 applies at 1% if units are sold on or before 15 days. There is no exit load after 15 days.

Source data date: as of 09 Sep 2026

Frequently asked questions

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

The current NAV is ₹41.3969 as of 09 Sep 2026.

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

The 1-year return is 25.53%, the 3-year return is 35.72% and the 5-year return is 25.48%.

How does the fund compare with its benchmark?

It has outperformed the benchmark across the displayed periods. For example, the 1-year return is 25.53% versus -7.16% for the benchmark, and the 5-year return is 25.48% versus 5.87%.

How does it compare with the peer funds listed here?

The fund’s 1-year return of 25.53% is well below the silver-focused peers listed here, many of which have 1-year returns above 82%. Its 3-year return is also lower than the available 3-year peer figures.

Is there a minimum SIP amount?

No minimum SIP amount is stated here.

What risk profile, portfolio style and exit load should investors note?

The fund is in the High Risk category and its disclosed portfolio is highly concentrated, with one holding at 99.93%. 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 shown strong medium-term performance, but the shorter-term path has still been uneven. It has outpaced the benchmark across the displayed horizons, yet it trails the silver-oriented peers on the available recent return figures. The fund’s High Risk profile and near-single-holding structure make it a focused gold-linked exposure rather than a diversified multi-position portfolio. That profile can suit investors who want theme-based allocation and can hold through volatility.

Published on 10 September 2026 at 9:50 AM 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.