Tata Silver ETF FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Tata Silver ETF FoF Direct Growth Plan has a NAV of ₹29.6854 as of 17 Sep 2026 and an AUM of ₹1,094 Cr. Its 1-year, 3-year and 5-year returns are 69.73%, Data not available and Data not available, while the risk category is High Risk. In our view, this is a concentrated silver-focused fund-of-fund with strong one-year performance, but the short history and the recent pullback mean investors need to be comfortable with sharp swings.

The fund’s behaviour is suited to investors who can accept volatility in exchange for silver exposure. The portfolio is extremely concentrated, with almost the entire scheme invested in a single underlying holding, so the price path can move quickly when the underlying metal or related instrument changes direction.

Quick facts

Particular	Details
NAV	₹29.6854 as of 17 Sep 2026
AUM	₹1,094 Cr
Expense Ratio	0.2%
Launch Date	19 Jan 2024
Min SIP	₹150
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Others
Exit Load	0.50% on or before 7D, Nil after 7D
Fund Managers	Tapan Patel, Nitin Sharma, Rakesh Prajapati

The fund is managed by Tapan Patel, Nitin Sharma and Rakesh Prajapati.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.26%	-3.66%
3M	-5.85%	-3.71%
1Y	69.73%	-7.13%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The fund’s one-month and three-month numbers show that the recent path has been choppy. Over 1 month, it still stayed ahead of the benchmark because the benchmark was also weak, but over 3 months the fund fell more than the benchmark, which tells us the recent correction has been sharper for this scheme.

The one-year picture is very different. A 69.73% return is a strong outcome in absolute terms, and it stands well above the benchmark’s negative 7.13% over the same horizon. That gap suggests the fund benefited from a very different return driver than the benchmark, so the benchmark is not a close proxy for how this scheme behaves.

We would read the one-year result with caution because the fund launched only in January 2024, so there is no meaningful 3-year or 5-year track record to smooth out the move. The time pattern points to a fund that can rise quickly and also give back part of that move over shorter stretches, which is consistent with a high-volatility silver exposure.

For investors, the key takeaway is that recent weakness does not erase the strong 1-year reading, but it does show that the path has not been one-way. That makes it more suitable as a tactical or satellite holding than as a core, steady-return allocation.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Tata Silver 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
Tata Silver ETF FoF Direct Growth Plan	69.73%	Data not available	Data not available
DSP Silver ETF FoF Direct Growth Plan	74.79%	Data not available	Data not available
UTI Silver ETF FoF Direct Growth Plan	73.31%	45.21%	Data not available
ICICI Pru Silver ETF FOF Direct Growth Plan	72.38%	45.03%	Data not available
UTI Gold ETF FoF Direct Growth Plan	35.4%	35.95%	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 sits below the stronger silver-ETF FoF peers in this list, while still staying far ahead of the gold ETF FoF example. That tells us the scheme has participated in the silver upswing, but not as fully as some comparable silver funds over the same horizon.

The longer-horizon comparison is more limited because this fund has no 3-year or 5-year figures available, while some peers do. That matters: the available peer set shows that silver funds with a longer record have also delivered strong multi-year numbers, so this scheme’s current challenge is less about underperforming on a mature history and more about not yet having one.

So the short-term comparison is useful for context, but it does not settle the longer-term case. For now, the gap between the fund and the stronger 1-year peers is modest rather than dramatic, and the lack of longer history keeps the comparison incomplete.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Tata Silver Exchange Traded Fund	Domestic Mutual Funds Units – Silver	99.92%

The portfolio is almost entirely invested in one underlying holding, so that single position is likely to have the greatest influence on day-to-day NAV movement. With a 99.92% weight, there is very little room for diversification within the disclosed holdings.

Because only one holding is disclosed, there is no drop-off from a largest position to a tenth position in the usual sense. That also means the scheme’s return pattern is likely to be closely tied to the underlying silver ETF exposure rather than to a spread of independent securities.

This level of concentration can be useful if an investor wants a pure silver play, but it also means the portfolio may be more sensitive to swings in that single underlying asset. Since the disclosed holding count is 1 and the combined disclosed weight is 99.92%, the scheme appears tightly focused rather than diversified across many positions.

Source data date: as of 17 Sep 2026

Who should invest

This fund may suit investors who can tolerate High Risk exposure and who are comfortable with a silver-linked allocation moving sharply over short periods. The 1-year return is strong, but the recent 1-month and 3-month softness shows that gains can be uneven and reversals can happen quickly.

It may fit a longer horizon if the goal is to hold a tactical commodity-linked position rather than a stable core fund. The main trade-off is between the possibility of strong upside in favourable silver markets and the chance of equally quick drawdowns when sentiment turns.

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

0.50% on or before 7D, Nil after 7D.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Tata Silver ETF FoF Direct Growth Plan?
The current NAV is ₹29.6854 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 69.73%, while the 3-year and 5-year returns are Data not available.

How has the fund done against its benchmark?
Over 1 year, the fund returned 69.73% versus -7.13% for the benchmark. Over 1 month and 3 months, the fund was -2.26% and -5.85%, while the benchmark was -3.66% and -3.71%.

How does it compare with the peer funds listed here?
Its 1-year return of 69.73% is below DSP Silver ETF FoF Direct Growth Plan, UTI Silver ETF FoF Direct Growth Plan and ICICI Pru Silver ETF FOF Direct Growth Plan, and above UTI Gold ETF FoF Direct Growth Plan.

Is there a minimum SIP?
Yes. The minimum SIP amount is ₹150.

What are the risk level, portfolio concentration and exit load?
The fund is classified as High Risk. The disclosed portfolio is concentrated in a single holding at 99.92%, and the exit load is 0.50% on or before 7 days, with nil exit load after 7 days.

Bottom line

The fund’s one-year return is strong, but the recent one-month and three-month softness shows that the path has become more uneven. Against the peer set, it trails the stronger silver funds on 1-year performance, while the lack of 3-year and 5-year history limits deeper comparison. The portfolio is almost fully concentrated in one underlying silver ETF, so the scheme is likely to behave like a focused silver exposure rather than a diversified fund. That makes it more suitable for investors who can handle High Risk and want commodity-linked return potential.

Published on 18 September 2026 at 11:49 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.