Silver ETFs in India
19 live funds in the Silver ETF category, ordered by 5-year return, highest first. Funds younger than five years follow by name. Returns are for the plan each fund's page leads with, Direct where the fund has one, to each fund's latest NAV, the newest of them on 27 Oct 2026; 3 and 5 year returns are a year, compounded.
Silver ETFs
Size is the average money the fund managed over its latest quarter. Cost is its yearly expense ratio.Filter them in the screener
360 ONE Silver ETF360 One Mutual FundNAV₹187.81861Y+30.15%3Y–5Y–Size₹45 CrCost0.46%
Aditya Birla Sun Life Silver ETFAditya Birla Sun Life Mutual FundNAV₹190.62191Y+30.65%3Y+37.97%5Y–Size₹2,894 CrCost0.35%
Angel One Silver ETFAngel One Mutual FundNAV₹7.32211Y–3Y–5Y–Size₹33 CrCost0.41%
Axis Silver ETFAxis Mutual FundNAV₹190.01201Y+30.59%3Y+37.56%5Y–Size₹1,995 CrCost0.42%
Bandhan Silver ETFBandhan Mutual FundNAV₹192.15301Y–3Y–5Y–Size₹266 CrCost0.45%
DSP Silver ETFDSP Mutual FundNAV₹18.36251Y–3Y–5Y–Size₹1,445 CrCost0.40%
Edelweiss Silver ETFEdelweiss Mutual FundNAV₹190.90061Y+30.51%3Y–5Y–Size₹1,774 CrCost0.50%
Groww Silver ETFGroww Mutual FundNAV₹18.73181Y–3Y–5Y–Size₹316 CrCost0.53%
HDFC Silver ETFHDFC Mutual FundNAV₹182.55971Y+29.98%3Y+37.90%5Y–Size₹7,926 CrCost0.50%
ICICI Prudential Silver ETFICICI Prudential Mutual FundNAV₹190.44121Y+30.61%3Y+37.95%5Y–Size₹14,507 CrCost0.40%
Kotak Silver ETFKotak Mahindra Mutual FundNAV₹18.52121Y–3Y–5Y–Size₹3,681 CrCost0.35%
Mirae Asset Silver ETFMirae Asset Mutual FundNAV₹186.09391Y+30.52%3Y+37.83%5Y–Size₹1,176 CrCost0.35%
Motilal Oswal Silver ETFMotilal Oswal Mutual FundNAV₹189.06451Y+30.26%3Y–5Y–Size₹1,050 CrCost0.59%
Nippon India Silver ETFNippon India Mutual FundNAV₹182.53301Y+30.28%3Y+37.59%5Y–Size₹31,194 CrCost0.58%
quant Silver ETFquant Mutual FundNAV₹19.32681Y–3Y–5Y–Size₹65 CrCost0.59%
SBI Silver ETFSBI Mutual FundNAV₹187.28711Y+30.62%3Y–5Y–Size₹5,943 CrCost0.41%
Tata Silver Exchange Traded FundTata Mutual FundNAV₹18.58291Y+32.41%3Y–5Y–Size₹5,358 CrCost0.46%
UTI Silver Exchange Traded FundUTI Mutual FundNAV₹184.33871Y+31.37%3Y+37.61%5Y–Size₹1,376 CrCost0.59%
Zerodha Silver ETFZerodha Mutual FundNAV₹19.534226 Oct 20261Y+30.47%3Y–5Y–Size₹1,176 CrCost0.39%
Tax on silver ETFs
Gains on units held over 12 months are taxed at 12.5%, with no yearly exemption; gains on units held 12 months or less at the income tax slab rate.
Rules in force from 1 Apr 2025, checked 27 Oct 2026. Surcharge and cess are not included.
About silver ETFs in India
Silver ETFs in India are exchange-traded funds that hold physical silver and trade on NSE and BSE like a share. Each unit is priced from the market price of silver, so the fund's value follows silver rather than a company's profits. SEBI allowed mutual funds to launch them in Nov 2021.
What a silver ETF holds
SEBI requires a silver ETF to keep at least 95% of its net assets in silver and silver-related instruments, which include exchange-traded silver derivatives. The physical metal must be standard 30 kg bars of 99.9% purity, held by a custodian. Units are bought and sold on the exchange through a demat account. The NAV (net asset value: the holdings' value divided by the number of units) moves with the domestic silver price, which is the international price converted into rupees plus import duty, so the rupee's moves affect it too.
How it differs from a gold ETF
Silver is also an industrial metal, used in electronics, solar panels and batteries, so its price reacts to factory demand as well as to investment demand. It has historically swung more widely than gold, and silver ETFs need purer metal in larger bars than gold ETFs, which hold 99.5% pure bars.
Silver ETF and silver fund of funds
A silver fund of funds does not hold silver. It buys units of a silver ETF, usually from the same fund house, and can be bought and sold with only a bank account, without a demat account. That adds a second layer of fund cost on top of the ETF's own, and its units must be held over 24 months for the 12.5% rate.
Tax on silver ETF gains
A silver ETF is a listed security but not an equity fund, so its gains follow the general rule for listed holdings. Units held over 12 months give long-term gains, taxed at 12.5% without indexation; units held 12 months or less give short-term gains, added to income at the holder's slab rate. These rates stand for the year to Mar 2027.
Order of the list
The page orders funds by 5-year return, and funds without five years of NAVs follow by name; since the first silver ETFs date from after Nov 2021, the order is by name until funds reach that mark. Because every fund tracks the same metal, the expense ratio and the gap between a fund's return and silver's own return are what separate them.