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

UTI Gold ETF FoF Direct Growth Plan currently has a NAV of ₹29.0592 as of 16 September 2026 and a scheme AUM of ₹1,516 Cr. Its 1-year, 3-year and 5-year returns are 35.4%, 35.95% and 0%, and it carries a High Risk label. Our view is that this is a specialised gold-oriented fund-of-funds that has shown strong medium-term compounding, but its short record and gold-linked behaviour make it better suited to investors who can tolerate sharp moves rather than those seeking steady, benchmark-like equity exposure.

The fund’s performance profile and single-holding structure point to a concentrated implementation of a gold allocation. That makes it more relevant as a portfolio diversifier or tactical satellite exposure than as a core long-term equity substitute.

Quick facts

Particular	Details
NAV	₹29.0592 as of 16 Sep 2026
AUM	₹1,516 Cr
Expense Ratio	0.18%
Launch Date	28 Oct 2022
Min SIP	₹25
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Others
Exit Load	1% on or before 15D, Nil after 15D
Fund Managers	Sharwan Kumar Goyal, Ayush Jain, Lokesh Kulthia

The fund is managed by Sharwan Kumar Goyal, Ayush Jain and Lokesh Kulthia.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.25%	-4.41%
3M	0.97%	-3.6%
1Y	35.4%	-7.76%
3Y	35.95%	5.74%
5Y	Data not available	Data not available

Recent numbers show that the fund has held up better than the benchmark over the short windows, even when both have been uneven. The 1-month figure is slightly negative for the fund, but the benchmark fell more sharply, which suggests the scheme has been less weak than the reference index over the latest stretch. The 3-month return also stayed in positive territory while the benchmark remained negative.

The longer view is more important here. The 1-year and 3-year returns are both strong, and the 3-year figure is especially notable because it came after a volatile path rather than a smooth climb. That tells us the scheme has not been a straight-line performer; it has moved through clear drawdowns and recoveries, which is typical of a gold-linked allocation.

Against the benchmark, the fund is ahead across every available period except the missing 5-year bucket. That gap is especially wide over 1 year, where the benchmark is negative while the fund is materially positive. Our read-through is that the fund has behaved more like a defensive diversifier than an equity proxy, and the recent pattern does not materially change the stronger 3-year compounding trend.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD UTI 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
UTI Gold ETF FoF Direct Growth Plan	35.4%	35.95%	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
Tata Silver ETF FoF Direct Growth Plan	69.73%	Data not available	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.

On a 1-year basis, the fund trails the silver-focused peers listed here, which have posted materially higher recent returns. That does not make the fund weak in absolute terms; it simply reflects that silver-linked schemes have had a much stronger recent run than gold-linked exposure.

The longer-term comparison is mixed. The fund’s 3-year return is solid, but the silver peers with available 3-year figures are higher, so the scheme does not stand out on that horizon. The key difference is that the fund’s own profile is steadier than the more aggressive recent moves seen in the silver peers, which may appeal to investors who want gold exposure rather than chasing the most powerful short-term rally.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
MF Units Uti MF- Gold Exchange Traded Fund ETF	Domestic Mutual Funds Units – Gold	100.01%

There is only one disclosed holding, and it carries essentially the entire portfolio weight. That means the fund’s movements are likely to be driven almost entirely by the underlying UTI Gold ETF rather than by any security selection across multiple positions.

The disclosed holding weight is effectively 100%, so there is no dilution from a broader basket at this level. With just one disclosed row, the portfolio is highly focused, and that concentration may increase the visibility of gold-price moves in the scheme’s NAV.

The top disclosed holding accounts for approximately 100% of the portfolio, and the total number of disclosed holding rows is 1. In practical terms, that leaves little room for offsetting positions, so investors should expect the fund to behave as a direct gold allocation through a fund-of-funds structure.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk exposure and want gold-linked diversification rather than equity-style growth. The 1-year and 3-year numbers show that returns can be strong, but they can also move around meaningfully, so a short holding period may not be ideal.

Our view is that it fits a longer horizon and a portfolio role where stability comes from diversification, not from steady monthly gains. The main trade-off is that the fund may help when gold is strong, but it can also underperform more aggressive precious-metals peers and may not mirror the broader equity benchmark at all.

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 1% on or before 15 days, and nil after 15 days.

Source data date: as of 16 Sep 2026

Frequently asked questions

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

The current NAV is ₹29.0592 as of 16 September 2026.

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

The fund’s 1-year return is 35.4%, its 3-year return is 35.95%, and its 5-year return is Data not available.

How has the fund performed against its benchmark?

It has been ahead of the benchmark across the available 1-month, 3-month, 1-year and 3-year periods. The benchmark has been negative over the 1-month, 3-month and 1-year windows shown here.

How does it compare with the peer funds listed here?

The fund’s 1-year return is lower than the silver-focused peers shown here, while its 3-year return is also below the peers with available 3-year figures. The comparison suggests that recent silver-led momentum has been stronger than this gold-focused scheme.

Is there a minimum SIP amount?

Yes. The minimum SIP amount is ₹25.

Who manages the fund and what is the exit load?

The fund is managed by Sharwan Kumar Goyal, Ayush Jain and Lokesh Kulthia. The exit load is 1% on or before 15 days and nil after 15 days.

Bottom line

UTI Gold ETF FoF Direct Growth Plan has shown a stronger medium-term return pattern than the benchmark, but its recent path has still been volatile and its 1-year figure trails the silver-focused peers listed here. The portfolio is extremely concentrated, with one disclosed holding carrying essentially the full weight, so the scheme behaves like a direct gold allocation. For investors seeking High Risk precious-metals exposure and portfolio diversification, it is a focused option; for those looking for broad equity-style participation, it is not the right fit.

Published on 17 September 2026 at 5:44 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.