Best Gold & Silver ETFs - 2025
Here are the best Gold and Silver ETFs in India based on expense ratio and liquidity metrics for 2025:
Best Gold ETFs
Expense-Wise Winner: ICICI Prudential Gold ETF
Liquidity-Wise Winner: Nippon India Gold BeES
| Gold ETF | Expense Ratio | AUM (₹ Cr) | 1-Year Return | Tracking Error |
|---|---|---|---|---|
| ICICI Prudential Gold ETF | 0.50% | 7,295 | 31.14% | 0.53% |
| Kotak Gold ETF | 0.55% | 7,416 | 30.02% | 0.28% |
| HDFC Gold ETF | 0.59% | 9,563 | 31.47% | 0.53% |
| SBI Gold ETF | 0.73% | 7,720 | 30.77% | 0.53% |
| Nippon India Gold BeES | 0.80% | 20,783 | 30.82% | 0.80% |
Best Silver ETFs
Expense-Wise Winner: ICICI Silver ETF
Liquidity-Wise Winner: Nippon India Silver ETF
| Silver ETF | Expense Ratio | AUM (₹ Cr) | 1-Year Return | 3-Year Return |
|---|---|---|---|---|
| ICICI Silver ETF | 0.40% | 8,307 | 43.22% | 119.01% |
| HDFC Silver ETF | 0.45% | 1,694 | 45.48% | 118.83% |
| Nippon India Silver ETF | 0.56% | 12,302 | 43.72% | 118.28% |
| Axis Silver ETF | 0.65% | 462 | 45.34% | 131.58% |
| Mirae Asset Silver ETF | 0.70% | 269 | 45.46% | 68.53% |
| Tata Silver ETF | 0.44% | 460 | 46.71% | N/A |
For Cost-Conscious Investors (Lowest Expense Ratios)
Gold: ICICI Prudential Gold ETF at 0.50% expense ratio offers the lowest cost for gold exposure, making it ideal for long-term investors focused on minimizing fees.
Silver: ICICI Silver ETF at 0.40% expense ratio provides the most cost-effective silver exposure, saving investors significantly over time.
For Liquidity-Focused Investors (Highest AUM & Trading Volume)
Gold: Nippon India Gold BeES with ₹20,783 crore AUM is India's most liquid gold ETF, ensuring easy entry and exit even for large transactions.
Silver: Nippon India Silver ETF with ₹12,302 crore AUM offers the best liquidity among silver ETFs, though silver ETFs generally have lower liquidity than gold ETFs.
Best Overall Balanced Choice
Gold: Kotak Gold ETF offers an excellent balance with a competitive 0.55% expense ratio and the lowest tracking error of 0.28%, ensuring accurate gold price replication.
Silver: HDFC Silver ETF provides a good compromise with a reasonable 0.45% expense ratio and decent liquidity, while offering strong returns of 45.48% in the past year.
Key Insights
Expense Impact: The difference between the cheapest and most expensive gold ETFs is 0.30%, while for silver ETFs it's 0.30%. Over 10 years, this can significantly impact returns.
Liquidity Considerations: Gold ETFs generally offer higher liquidity than silver ETFs. Nippon India's funds lead in both categories for liquidity, making them suitable for investors who trade frequently.
Performance: Both asset classes have delivered strong returns in 2025, with silver ETFs showing higher volatility and potential for greater gains, averaging 54% returns compared to gold ETFs' 47% average.
Cost Impact Analysis
The 0.11% difference in expense ratio means that for every ₹1,00,000 invested, HDFC Silver ETF would cost ₹110 less annually compared to Silver BeES. Over longer investment periods, this difference compounds and can impact overall returns significantly.
Other Key Considerations
Performance: Both ETFs track silver prices closely, with similar returns over various time periods - HDFC Silver ETF showing 50.07% returns over 1 year compared to Silver BeES at 49.47%.
For investors seeking the lowest costs, choose ICICI funds for both metals. For maximum liquidity, Nippon India ETFs are the clear winners in both categories.
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