Top Silver Mutual Funds in India for 2025

Silver is becoming a popular investment in India due to increasing industrial demand, which makes up nearly 60% of global silver consumption, and a growing interest in portfolio diversification. The rise of Silver Mutual Funds and Silver ETFs has boosted this trend. These financial products allow investors to gain exposure to silver without holding physical metal, offering a convenient and cost-efficient way to invest. This article covers the top 10 silver mutual funds, their advantages, risks, and factors to consider before investing.

Best Silver Mutual Funds in India

Name	AUM	CAGR 3Y	Expense Ratio	Absolute Returns - 1Y	Exit Load	NAV	Volatility
ICICI Pru Silver ETF FOF	2,160.26	30.61	0.12	46.67	1.00	19.29	22.48
Kotak Silver ETF FoF	177.05	0.00	0.14	47.72	0.50	16.80	22.53
UTI Silver ETF FoF	116.04	0.00	0.14	48.15	1.00	16.28	22.33
Axis Silver FoF	176.82	0.00	0.16	47.36	0.25	21.73	21.28
Zerodha Silver ETF FoF	21.12	0.00	0.17	0.00	0.00	11.52	22.81
Groww Silver ETF FOF	11.60	0.00	0.18	0.00	1.00	12.49	20.62
Tata Silver ETF FoF	169.50	0.00	0.19	47.21	0.50	16.93	21.87
HDFC Silver ETF FoF	516.79	0.00	0.23	47.94	1.00	21.04	22.80
Nippon India Silver ETF FOF	1,025.65	30.23	0.27	47.35	1.00	19.36	23.06
SBI Silver ETF FOF	579.48	0.00	0.27	46.07	1.00	13.24	22.40
Aditya Birla SL Silver ETF FOF	321.28	30.17	0.30	47.14	0.50	19.70	21.98
DSP Silver ETF FoF	156.98	0.00	0.56	0.00	0.00	13.11	20.92

Disclaimer: Please note that the above table is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

Note: The data on the list of best silver mutual funds is from 8th September, 2025. This data is derived from the Tickertape Mutual Funds Screener.
🚀 Pro Tip: You can use Tickertape’s Mutual Fund Screener to research and evaluate funds with over 50+ pre-loaded filters and parameters.

Overview of Top Silver Mutual Funds

ICICI Pru Silver ETF FoF

ICICI Prudential Silver ETF FoF invests primarily in the ICICI Silver ETF, giving indirect exposure to silver prices. It offers a digital format for tracking silver performance without requiring physical ownership or storage.

Kotak Silver ETF FoF

Kotak Silver ETF FoF invests in Kotak’s Silver ETF to follow silver price movements. It provides a way to participate in silver price trends without dealing with storage, safety, or purity-related concerns.

UTI Silver ETF FoF

UTI Silver ETF FoF invests in UTI’s Silver ETF, giving access to silver price trends. It offers exposure to precious metals through a digital format without involving the operational aspects of managing physical silver.

Axis Silver FoF

Axis Silver FoF invests in Axis Silver ETF units and reflects silver price performance digitally. It enables participation in silver price movements without addressing issues related to physical storage or purity.

Zerodha Silver ETF FoF

Zerodha Silver ETF FoF invests in Zerodha’s Silver ETF to track silver prices. It follows a digital structure, removing the need to handle, store, or secure silver physically.

Groww Silver ETF FoF

Groww Silver ETF FoF invests in Groww’s Silver ETF and reflects silver price movements. It provides access to precious metals in a digital format without involving direct ownership of physical silver.

Tata Silver ETF FoF

Tata Silver ETF FoF invests in Tata’s Silver ETF and aligns with silver price changes. It offers a digital structure for tracking silver performance without the need to manage or purchase physical holdings.

HDFC Silver ETF FoF

HDFC Silver ETF FoF invests in HDFC’s Silver ETF to track silver price movements digitally. It provides exposure to silver without engaging in logistics related to physical storage.

Nippon India Silver ETF FoF

Nippon India Silver ETF FoF invests in Nippon India’s Silver ETF and mirrors silver price changes. It offers indirect exposure to precious metals without involving the complexities of holding silver physically.

SBI Silver ETF FoF

SBI Silver ETF FoF invests in SBI’s Silver ETF to follow the silver price performance. It operates digitally and avoids the operational concerns associated with physical silver holdings.

What Are Silver Mutual Funds?

Silver mutual funds invest in Silver Exchange-Traded Funds (ETFs), which track the market price of silver. These funds let investors gain exposure to silver price fluctuations without the need to buy, store, or secure physical silver.

Note: Fund of Funds (FoF) are a type of mutual fund. While all FoFs are mutual funds, most mutual funds invest directly in assets rather than being structured as FoFs.

Advantages of Investing in Silver Mutual Funds

• Convenient Investing: Silver mutual funds handle buying, storing, and tracking digitally, removing the need for physical silver management.
• Affordable Entry: Silver has a lower price per gram, allowing participation in smaller amounts starting around ₹500 to ₹1,000.
• Transparent Pricing: Silver mutual funds follow real-time market prices, without making charges, purity concerns, or storage costs.
• Lower Costs: Passively managed silver funds generally mirror market prices, resulting in lower expense ratios compared to actively managed options.

Risks of Investing in Silver Mutual Funds

• Price Volatility: Silver prices change rapidly based on global demand, supply, and currency movements.
• No Guaranteed Returns: Returns from silver investments are not fixed. If silver prices drop, the overall value of the investment can decrease.
• Short-Term Uncertainty: Silver prices often fluctuate within short periods. Factors such as industrial demand and inflation trends contribute to these frequent changes.
• Global Dependency: Silver prices in India are linked to international markets since trading is conducted in US dollars. A stronger dollar can make silver more expensive domestically, even if local demand remains steady.
• Limited Historical Data: Silver mutual funds and ETFs are relatively recent in India compared to gold-based options. Many were introduced after SEBI’s 2021 approval, leaving limited long-term performance data available.

Factors to Consider Before Investing in Silver Mutual Funds

• Investment Goal: Investments often align with specific objectives such as portfolio diversification, protection against inflation, or wealth accumulation over time. Linking them to defined goals helps explain the purpose behind the choice.
• Risk Tolerance: Fluctuations in silver prices can cause noticeable ups and downs in returns. Investors need to understand their risk tolerance, as it may help in determining the level of variability they can handle within their portfolio.
• Expense Ratios: Management costs, reflected through expense ratios, affect overall returns. Lower ratios leave a larger share of gains with the investor, which becomes relevant for passively managed silver funds.
• Market Trends: Industrial demand, particularly from sectors like solar energy and electronics, along with inflation trends, global silver supply, and currency movements, often influence price behaviour. Awareness of these factors offers useful context.
• Digital Convenience vs Physical Silver: Silver mutual funds and ETFs provide digital access to silver-based investments without requiring storage arrangements. They act as an alternative to holding physical silver directly.

To Wrap Up…

Silver mutual funds and ETFs provide a simple and transparent way to gain exposure to the silver market. As a form of mutual fund investing in silver, they offer diversification and can act as a hedge against inflation and market volatility. Certain structures, like a silver FoF mutual fund, also allow indirect participation in silver prices through ETFs.

Frequently Asked Questions About Silver Mutual Funds