Top Silver Mutual Funds in India (2026)
Silver mutual funds have gained traction in India as participation in precious-metal funds continues to expand. Silver ETFs alone saw inflows of about ₹9,463 cr in January 2026, while folios rose sharply in recent months. At the same time, global silver demand remains strong, with industrial demand touching a record 680.5 mn ounces in 2024. These trends have brought silver-based mutual funds into focus as a way to access the metal through a structured investment route.
Top Silver Mutual Funds in 2026
Showing 1 - 16 of 16 results
last updated at 8:00 AM IST
| NameMFs (16)↓ | ↓Sub CategorySub Category↓ | ↓PlanPlan↓ | ↓AUMAUM↓ | ↓CAGR 3YCAGR 3Y↓ | ↓Expense RatioExpense Ratio↓ | ↓CAGR 5YCAGR 5Y↓ | ↓Absolute Returns - 1YAbsolute Ret. - 1Y↓ | ↓NAVNAV↓ | ↓Exit LoadExit Load↓ | ↓VolatilityVolatility↓ | ↓AlphaAlpha↓ | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | ICICI Pru Silver ETF FOF ICICI Pru Silver ETF FOF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 5,919.47 5,919.47 | 44.90 44.90 | 0.17 0.17 | - - | 134.16 134.16 | 35.89 35.89 | 1.00 1.00 | 56.21 56.21 | 43.45 43.45 | |
| 2. | Nippon India Silver ETF FOF Nippon India Silver ETF FOF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 4,219.18 4,219.18 | 44.53 44.53 | 0.23 0.23 | - - | 134.26 134.26 | 35.75 35.75 | 1.00 1.00 | 53.50 53.50 | 42.74 42.74 | |
| 3. | HDFC Silver ETF FoF HDFC Silver ETF FoF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 4,112.31 4,112.31 | 44.89 44.89 | 0.23 0.23 | - - | 134.43 134.43 | 38.75 38.75 | 1.00 1.00 | 62.06 62.06 | 45.04 45.04 | |
| 4. | SBI Silver ETF FOF SBI Silver ETF FOF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 3,623.01 3,623.01 | - - | 0.31 0.31 | - - | 138.63 138.63 | 25.02 25.02 | 1.00 1.00 | 58.16 58.16 | 44.21 44.21 | |
| 5. | Aditya Birla SL Silver ETF FOF Aditya Birla SL Silver ETF FOF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 1,189.17 1,189.17 | 44.71 44.71 | 0.30 0.30 | - - | 134.37 134.37 | 36.43 36.43 | 0.50 0.50 | 59.57 59.57 | 44.28 44.28 | |
| 6. | Axis Silver FoF Axis Silver FoF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 1,071.15 1,071.15 | 44.90 44.90 | 0.14 0.14 | - - | 133.72 133.72 | 40.18 40.18 | 0.25 0.25 | 57.30 57.30 | 42.89 42.89 | |
| 7. | Tata Silver ETF FoF Tata Silver ETF FoF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 997.31 997.31 | - - | 0.22 0.22 | - - | 130.57 130.57 | 30.79 30.79 | 0.50 0.50 | 60.34 60.34 | 42.86 42.86 | |
| 8. | Kotak Silver ETF FoF Kotak Silver ETF FoF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 891.43 891.43 | 44.70 44.70 | 0.24 0.24 | - - | 135.50 135.50 | 31.29 31.29 | 0.50 0.50 | 59.51 59.51 | 44.44 44.44 | |
| 9. | DSP Silver ETF FoF DSP Silver ETF FoF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 680.54 680.54 | - - | 0.62 0.62 | - - | - - | 24.39 24.39 | - - | 58.74 58.74 | 47.10 47.10 | |
| 10. | UTI Silver ETF FoF UTI Silver ETF FoF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 565.77 565.77 | 38.52 38.52 | 0.17 0.17 | - - | 134.64 134.64 | 29.98 29.98 | 1.00 1.00 | 58.52 58.52 | 44.21 44.21 | |
| 11. | Zerodha Silver ETF FoF Zerodha Silver ETF FoF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 206.25 206.25 | - - | 0.20 0.20 | - - | - - | 21.41 21.41 | - - | 64.15 64.15 | 49.52 49.52 | |
| 12. | Bandhan Silver ETF FOF Bandhan Silver ETF FOF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 151.50 151.50 | - - | 0.08 0.08 | - - | - - | 7.66 7.66 | 0.25 0.25 | 94.01 94.01 | -18.92 -18.92 | |
| 13. | Edelweiss Silver ETF FoF Edelweiss Silver ETF FoF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 106.92 106.92 | - - | 0.10 0.10 | - - | - - | 10.22 10.22 | 0.10 0.10 | 87.38 87.38 | 26.85 26.85 | |
| 14. | Groww Silver ETF FOF Groww Silver ETF FOF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 80.78 80.78 | - - | 0.18 0.18 | - - | - - | 22.76 22.76 | 1.00 1.00 | 62.73 62.73 | 47.58 47.58 | |
| 15. | Mirae Asset Silver ETF FOF Mirae Asset Silver ETF FOF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 14.09 14.09 | - - | 0.10 0.10 | - - | - - | 10.55 10.55 | 0.05 0.05 | 40.08 40.08 | 20.54 20.54 | |
| 16. | Angel One Silver ETF FOF Angel One Silver ETF FOF | FoFs (Domestic) - Silver FoFs (Domestic) - Silver | Growth Growth | 9.11 9.11 | - - | 0.18 0.18 | - - | - - | 8.15 8.15 | - - | 57.69 57.69 | -25.99 -25.99 |
Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Mutual Fund Screener and is subject to real-time updates.
Selection criteria: AUM: Sorted from highest to lowest, Plan: Growth, Category: Commodity, Sub-Category: FoFs (Domestic) - Silver
Selection criteria: AUM: Sorted from highest to lowest, Plan: Growth, Category: Commodity, Sub-Category: FoFs (Domestic) - Silver
What are Silver Mutual Funds?
Silver mutual funds are investment schemes that give exposure to silver without requiring investors to buy or store the metal physically. In India, these funds typically invest in Silver ETFs, which track domestic silver prices. This makes them an easy way to access silver via mutual funds. Their value generally moves in line with silver prices, though returns may differ slightly because of fund expenses and tracking error. Silver mutual funds are often used to add commodity exposure to a portfolio. However, they can be volatile, since silver prices can rise or fall sharply based on market conditions and global demand.
Overview of the Top Silver Mutual Funds
ICICI Pru Silver ETF FoF
ICICI Pru Silver ETF FoF is a fund-of-funds scheme that invests in units of a silver ETF. It provides exposure to domestic silver prices without holding physical silver. Returns broadly follow silver trends, but can vary due to expenses, tracking differences, and the structure of the underlying ETF.
Nippon India Silver ETF FoF
Nippon India Silver ETF FoF invests in an underlying silver ETF to reflect silver price movements. It offers a simple way to access silver through a mutual fund format. Performance depends on silver price changes, fund expenses, and tracking error, which may create small differences from actual silver price returns.
HDFC Silver ETF FoF
HDFC Silver ETF FoF is a mutual fund that invests in a silver ETF, giving indirect exposure to silver. HDFC Silver Mutual Fund removes the need for physical storage and simplifies access. Returns are linked to silver prices but may differ slightly due to costs, liquidity factors, and tracking differences over time.
SBI Silver ETF FoF
SBI Silver ETF FoF provides exposure to silver through investment in an underlying silver ETF. SBI Silver Mutual Fund allows investors to participate in silver price movements through a mutual fund structure. Returns depend on market price trends, fund expenses, and tracking error, which can impact how closely it mirrors silver prices.
Aditya Birla SL Silver ETF FoF
Aditya Birla SL Silver ETF FoF invests in a silver ETF to offer exposure to silver prices. It combines the convenience of mutual funds with access to commodities. Returns largely track silver price movements, but overall performance may vary due to expense ratios, allocation structure, and tracking differences.
How to Invest in Silver Mutual Funds?
Here’s how you can identify and invest in the Silver mutual funds with Tickertape Mutual Fund Screener -
- Launch Tickertape Mutual Fund Screener.
- Select “Silver Mutual Funds” in the category
- Sort out the best Silver mutual funds based on over 50 fundamental and technical filters.
- After identifying the Silver mutual funds in India that align with your investment thesis, click on “Place Order” to invest in the fund.
With Tickertape Mutual Fund Screener, you can invest via ‘lumpsum’ or start a ‘SIP’ in Silver Mutual Funds. Moreover, by connecting your portfolio, you can perform a deep analysis and assess its performance.
Taxation of Silver Mutual Funds
Capital gains tax depends on how long the units are held. The table below summarises the applicable rates for silver mutual funds.
| Holding Period | Tax Treatment |
|---|---|
| Short-Term (24 months) | Gains are taxed as per the investor’s applicable income tax slab. |
| Long-Term (more than 24 months) | Gains are taxed at 12.5% without indexation. |
Benefits of Investing in Silver Mutual Funds
Easy Access to Silver
Silver mutual funds give exposure to silver without buying, storing, or insuring the metal physically. That makes them simpler than holding bars or coins, especially for investors seeking commodity exposure through a mutual fund.
Growing Investor Participation
Interest in silver funds has risen sharply in India. Silver ETF inflows reached about ₹9,463 cr in January 2026, indicating that the category has seen strong traction amid market uncertainty and portfolio diversification.
Diversification Potential
Silver behaves differently from equities and fixed income in many market phases. Its demand comes from both investment buying and industrial use, which can make it a useful diversifier within a broader portfolio.
Industrial Demand Support
Silver is not only a precious metal. Global industrial silver demand rose 4% to a record 680.5 mn ounces in 2024, supported by electronics, grid infrastructure, EVs, photovoltaics, and AI-linked hardware demand.
Precious Metals Category Scale-Up
Precious-metal products have gained more visibility in Indian portfolios. Strong flows into gold and silver ETFs in January 2026 suggest that investors are increasingly using these products as part of asset allocation rather than only for tactical exposure.
Risks of Investing in Silver Mutual Funds
High Price Volatility
Silver prices can move sharply over short periods. That means returns can be more volatile than those of many debt funds or even some diversified equity categories, especially when commodity sentiment shifts quickly.
Tracking Difference
Most silver mutual funds in India are fund-of-funds that invest in a Silver ETF rather than directly in silver. Because of this structure, returns may not exactly match spot silver prices due to expenses, cash holdings, and differences in ETF tracking.
Expense Drag
A silver FoF has its own costs, and the underlying ETF also has costs. Over time, these expenses can reduce net returns compared with the underlying silver price movement.
Import and Supply Disruptions
Domestic silver pricing can also be influenced by import-related issues. In April 2026, delays in India’s bullion import authorisation process left more than 8 metric tons of silver stuck at customs before the issue was resolved.
Category Sensitivity to Global Factors
Silver reacts to multiple global variables at once, including industrial demand, dollar trends, inflation expectations, and risk sentiment. That makes the category sensitive to both commodity cycles and macro shifts.
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Factors to Consider Before Investing in Silver Mutual Funds
Fund Structure
Silver mutual fund schemes generally come in two forms: Silver ETFs and Silver ETF FoFs. A Silver ETF is traded on the stock exchange, while a Silver ETF FoF invests in units of a Silver ETF and is available in the mutual fund format.
Cost of Ownership
The expense ratio affects the overall cost of holding the fund. In the case of Silver ETF FoFs, the cost impact may be higher because the fund carries its own expense ratio in addition to the underlying ETFs.
Role in the Portfolio
Silver mutual funds are often viewed as a way to get exposure to precious metals or add diversification. They are not typically seen as stability-oriented products, and their performance can differ sharply from equity and debt categories.
Industrial and Market Demand Trends
Silver prices are influenced by both investment demand and industrial consumption. Industrial demand reached a record 680.5 mn ounces in 2024, and the silver market is still projected to remain in deficit in 2026, making these trends relevant for category performance. Liquidity and Scale of the Underlying ETF The size and trading activity of the underlying ETF can affect how efficiently the scheme reflects silver prices. Larger and more actively traded ETFs are often associated with smoother functioning and lower tracking inefficiencies.
Suitability for Risk Tolerance
Silver mutual funds are linked to a commodity that can see sharp price movements. As a result, the category is generally associated with higher volatility and may differ from products typically viewed as capital-protection or low-volatility options.
Conclusion
Silver mutual funds provide a simple way to track silver prices without holding the metal physically. Their performance depends largely on silver price movements, fund structure, and costs. Since the category can be volatile and influenced by global demand, commodity cycles, and market sentiment, understanding its role within a broader portfolio is important before taking exposure. To compare silver mutual funds and other schemes, investors can use the Tickertape Mutual Fund Screener, which offers multiple filters to evaluate funds based on returns, risk, expense ratio, fund size, and more.
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Frequently Asked Questions About Silver Mutual Funds
What are Silver ETFs and Silver Mutual Funds?
A Silver ETF is an exchange-traded fund that invests primarily in physical silver and aims to track domestic silver prices. It is bought and sold on the stock exchange, usually through a demat account. A silver mutual fund is usually a fund of funds (FoF) that invests in a Silver ETF rather than holding silver directly. It offers similar silver exposure through a mutual fund, without requiring investors to buy or store physical silver.Which silver mutual fund is best?
The following are the best silver mutual funds based on 1Y returns as of 20th April, 2026: Disclaimer: This information is for educational purposes only and does not constitute investment advice or a recommendation. Investors looking to compare options, including the top 10 best silver ETF in India, can use the Tickertape Mutual Fund Screener to review funds based on returns, expense ratio, risk, AUM, and other key parameters.How to buy a silver mutual fund?
Here’s how you can invest in Silver Mutual Funds,
- Launch Tickertape Mutual Fund Screener.
- Select the Silver Mutual Funds that aligns with your investment goals.
- Click on “Place Order” and select the option “SIP” or "Lumpsum". Enter the amount and confirm “OK”
How to choose silver mutual funds before investing?
The fund structure, expense ratio, underlying ETF, tracking difference, fund size, and role within the overall portfolio are key factors to consider when evaluating silver mutual funds. Tools such as the Tickertape Mutual Fund Screener can also be used to compare silver funds across parameters like returns, risk, expense ratio, AUM, and consistency. Disclaimer: This is for educational purposes only and not a recommendation. Investors should assess their financial goals, risk appetite, and investment horizon before selecting any silver mutual fund.Why should you invest in silver mutual funds?
Silver mutual funds provide exposure to silver through the mutual fund route without requiring physical purchase or storage. Silver also has both precious-metal and industrial demand, which makes its market behaviour different from many traditional asset classes. Because of this, the category is sometimes tracked for diversification within a broader portfolio rather than as a standalone core allocation. Disclaimer: This is for educational purposes only and not a recommendation. Silver mutual funds are market-linked and can be volatile. Investors should evaluate their financial goals, risk appetite, and investment horizon before making any investment decision.What are the advantages of investing in silver mutual funds?
Silver mutual funds remove the need to handle physical silver, storage, insurance, or purity concerns. These funds also make silver exposure easier through a regulated investment product. The structure provides investors with a convenient way to track silver prices while remaining within the mutual fund ecosystem. Disclaimer: This is for educational purposes only and not a recommendation. While silver mutual funds offer convenience, their suitability depends on an investor’s financial goals, risk profile, and understanding of commodity-linked volatility.What are the risks of investing in silver mutual funds?
Silver mutual funds are exposed to commodity price risk, so returns can fluctuate sharply over short periods. Fund performance may also differ from silver prices because of expense ratios and tracking differences. Global demand, industrial activity, and market sentiment can influence outcomes across products such as the Axis Silver Fund of Funds.Who should look to invest in silver mutual funds?
Silver mutual funds may be relevant for investors who understand commodity-linked volatility and are evaluating limited exposure to silver within a broader portfolio. This category is generally reviewed in the context of diversification and risk tolerance, including when comparing schemes such as Axis Silver for direct growth or any. Disclaimer: This is for educational purposes only and not a recommendation. Silver mutual funds can be volatile and may not be suitable for every investor. Investors should assess their financial goals, risk appetite, and investment horizon, and consult a financial advisor before making any investment decision.
