Mirae Asset Gold Silver Passive FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Mirae Asset Gold Silver Passive FoF Direct Growth Plan is a high-risk fund of fund that currently has a NAV of ₹16.823 as of 16 Sep 2026 and a scheme AUM of ₹1,470 Cr. Its 1-year, 3-year and 5-year returns are 54.74%, Data not available and Data not available. Our view is that this is a niche metal-linked allocation for investors who can accept sharp moves and want exposure that behaves very differently from a plain equity fund.

The fund sits in the High Risk bucket and has a very short live history since 29 Aug 2025. Its recent return profile is strong over 1 year, but the shorter 3-month and 1-month readings have softened, so we would treat it as a more volatile satellite holding rather than a core portfolio anchor.

Quick facts

Particular	Details
NAV	₹16.823 as of 16 Sep 2026
AUM	₹1,470 Cr
Expense Ratio	0.1%
Launch Date	29 Aug 2025
Min SIP	₹99
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	0.05% on or before 15D, Nil after 15D
Fund Managers	Ritesh Patel

The fund is managed by Ritesh Patel.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.54%	-4.41%
3M	-2.49%	-3.6%
1Y	54.74%	-7.76%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The 1-year return is the standout figure, and it is well ahead of the benchmark’s negative reading over the same period. That tells us the fund has behaved very differently from the Nifty 50 over the past year, which is not surprising for a fund built around gold and silver exposure rather than broad equity exposure.

The shorter windows point to a more mixed recent stretch. Both the 1-month and 3-month return numbers are negative, but they are still better than the benchmark’s losses in those same windows. That suggests the fund has eased off from its earlier strength, yet it has continued to hold up better than the benchmark in the recent drawdown.

Because the scheme launched only in August 2025, the 3-year and 5-year return fields are not available. That limits the amount of long-cycle evidence we can use, so the 1-year number should be read as a useful snapshot rather than proof of a full market cycle. Even so, the pattern so far shows a fund that can move quickly and can also recover quickly when precious metals support it.

Our read-through is that this is not a smooth compounding story. The fund has shown a strong one-year run, but the recent softening in the 1-month and 3-month periods highlights that the path can be uneven. For investors, the key point is that this behaviour is materially different from a conventional equity benchmark and should be judged on role in a portfolio, not just on headline return.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Mirae Asset Gold Silver Passive 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
Mirae Asset Gold Silver Passive FoF Direct Growth Plan	54.74%	Data not available	Data not available
SBI Silver ETF FOF Direct Growth Plan	76.71%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	75.91%	45.12%	Data not available
Axis Silver FoF Direct Growth Plan	74.42%	45.18%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	73.46%	Data not available	Data not available
Nippon India Silver ETF FOF Direct Growth Plan	72.65%	43.94%	Data not available

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

The fund’s 1-year return trails the stronger silver-focused peers in this set, even though it still posts a positive and meaningful number. The gap is not dramatic in absolute terms, but it does show that the fund has captured less of the recent silver-led upside than the pure silver FoF peers shown here.

On longer horizons, the comparison is more limited because this scheme does not yet have usable 3-year or 5-year data. Where peers do have 3-year figures, they sit in the mid-40% range, which tells us some of the peer group has already built a longer track record that this fund cannot yet match. The short version is that the fund’s one-year story is respectable, but the longer-view comparison is still incomplete.

That makes the peer picture a two-part read. Recent performance is solid, but the absence of longer history means we cannot judge consistency the way we can for some of the silver-only FoFs. For an investor, the question is therefore less about chasing the highest recent number and more about whether a gold-silver blend fits the intended risk bucket and portfolio role.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Mirae Asset Gold ETF	Domestic Mutual Funds Units – Gold	55.44%
Mirae Asset Silver ETF	Domestic Mutual Funds Units – Silver	44.67%

The largest holding, Mirae Asset Gold ETF, carries a weight of 55.44%, so it is likely to have the greater influence on the scheme’s day-to-day movement. The second holding, Mirae Asset Silver ETF, is also large at 44.67%, which means the portfolio is effectively split between just two underlying ETF positions rather than being spread across many smaller bets.

Because the disclosed holding list contains only two rows, the fall from the first position to the second is modest rather than steep. That kind of structure can make the fund more direct in its exposure, but it also means the outcome will remain closely tied to the behaviour of gold and silver themselves.

With the top two holdings already accounting for 100% of the disclosed portfolio and no additional holdings shown, the scheme looks highly concentrated in its underlying metal exposure. In our view, that concentration can be useful for investors who want a clear precious-metals allocation, but it also leaves little room for diversification inside the fund itself.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk exposure and who can stay invested for a medium to long horizon. The one-year return is strong, but the recent 1-month and 3-month numbers show that the path can be choppy, so it is better suited to investors who can tolerate uneven phases without reacting too quickly.

The main trade-off is that the fund may offer diversification away from equity-heavy portfolios, but it does so with a concentrated, metal-linked structure and a benchmark that does not match its underlying mix well. Investors who want a simple precious-metals sleeve may find the design appealing, while those seeking steady compounding or broad market-like behaviour may not.

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

The exit load is 0.05% if units are sold on or before 15 days, and there is no exit load after that holding period.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Mirae Asset Gold Silver Passive FoF Direct Growth Plan?
Its current NAV is ₹16.823 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 54.74%, while the 3-year and 5-year returns are Data not available.

How has the fund performed against the benchmark?
It has outperformed the Nifty 50 over 1 year and also held up better than the benchmark over 1 month and 3 months. The comparison is less useful over 3 years and 5 years because this scheme does not yet have those figures.

How does it compare with the peer funds shown here?
Its 1-year return is lower than the silver-only peers listed here, while the longer-term peer comparison is limited by the fund’s shorter track record. That makes the recent return respectable, but not the strongest in this peer set.

What is the minimum SIP amount?
The minimum SIP amount is ₹99.

What is the risk profile, portfolio mix and exit load?
The fund is marked High Risk and is concentrated in two holdings: Mirae Asset Gold ETF at 55.44% and Mirae Asset Silver ETF at 44.67%. The exit load is 0.05% on or before 15 days and nil after 15 days.

Bottom line

Mirae Asset Gold Silver Passive FoF Direct Growth Plan has a clear split personality: the 1-year return is strong, but the shorter recent periods have softened, and the fund is still too young for a meaningful 3-year or 5-year history. Relative to the peer set shown here, it lags the stronger recent silver-only funds on 1-year performance, but its direct gold-silver structure may still appeal to investors who want a focused precious-metals allocation. The High Risk tag and two-holding portfolio make it better suited to investors who can tolerate volatility and are looking for a satellite role, not a broad-market core.

Published on 17 September 2026 at 11:15 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.