ETFSilver ETFHigh

DSP Silver ETF

Q: What is the NAV of DSP Silver ETF?

As of 05 Oct 2026, the NAV of DSP Silver ETF is ₹21.38 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has DSP Silver ETF delivered?

DSP Silver ETF has returned +52.35% over 1 year, +47.45% per year over 3 years and +38.32% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of DSP Silver ETF?

DSP Silver ETF charges an expense ratio of 0.40% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of DSP Silver ETF?

DSP Silver ETF's largest holdings are SILVER (99.8%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Silver ETF?

DSP Silver ETF is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 37.3% and its worst peak-to-trough fall in our sample was -44.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 1.10 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Silver ETF's 1.10 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of DSP Silver ETF?

DSP Silver ETF is benchmarked against the Price of Silver. Its alpha and beta on this page are measured against that index.

Q: Who manages DSP Silver ETF?

DSP Silver ETF is managed by Ravi Gehani at DSP.

Q: How is DSP Silver ETF taxed?

DSP Silver ETF is a non-equity fund (a fund-of-funds, gold, international or balanced-hybrid scheme). Since FY 2025-26 it's no longer taxed like a pure-debt fund: gains on units held more than 1 year are long-term, taxed at 12.5% (no indexation, no ₹1.25 lakh exemption); units held 1 year or less are taxed at your income-tax slab rate.

DSP Mutual Fund

NAV

₹21.38

+1.06% 1D

as of 05 Oct 2026

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NAV history

+48.90%absolute

52-week rangePrev NAV ₹21.16

Latest ₹21.38

Low ₹13.7234th percentile of its 52-week rangeHigh ₹36.24

Scorecard

★★★★☆4/5 vs 41 ETF peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked against all ETF funds (same plan and option) — too few funds in its own sub-category to rank within it.

Performance—

Not enough Silver ETF peers to rank yet

RiskModerate

Volatility 37.3% vs 40.9% category avg

Cost—

0.4% expense (no category average yet)

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Ranks #1 of 6 on 1-year return in its Silver ETF cohort
Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.40%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

1.10

Category —

Scheme Info

Definitions

Plan

—

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

—

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Not allowed

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

Price of Silver

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

19 Aug 2022

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-5.01%

Absolute return over the last 3 months (not annualized)

-4.32%

Absolute return over the last 6 months (not annualized)

-1.89%

Absolute return since 1 Jan of this year (not annualized)

-2.79%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+52.35%

3-year annualized return (CAGR)

+47.45%

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+38.32%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

37.30%

Excess return per unit of total volatility (rf = 6.5%)

1.10

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

1.47

Largest peak-to-trough decline over full history

-44.54%

Benchmark ratios

Not shown for Silver ETF — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Silver ETF)

Period	Fund	Category avg.	Diff
1M abs	-5.01%	-4.92%	-0.09%
3M abs	-4.32%	-4.27%	-0.05%
6M abs	-1.89%	-1.91%	+0.02%
1Y CAGR	+52.35%	+51.95%	+0.40%
3Y CAGR	+47.45%	—	—
5Y CAGR	—	—	—

Category average across peers in Silver ETF (up to 6 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 6 peers in Silver ETF

1Y return🏆

+52.35%

Beats 100% · rank #1

3Y return

+47.45%

—

5Y return

—

Sharpe

1.10

—

Sortino

1.47

—

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹3.60L

Current value

₹7.12L

Absolute

+97.66%

XIRR

+52.48%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into DSP Silver ETF, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	-2.79%
2025	+161.45%
2024	+16.48%
2023	+2.66%
2022part	+25.59%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

1,019

Expense ratio

0.40%

AUM

₹1,710Cr

Exit load

Nil

Taxation

Taxed as non-equity

This is a non-equity fund — a fund-of-funds, gold/silver, international or balanced-hybrid scheme. It isn't equity-oriented, but since FY 2025-26 it's no longer taxed like a pure-debt fund either: gains held over 1 year get the 12.5% long-term rate; shorter holdings are taxed at your income-tax slab rate.

Short-term

30%

Held under 1 year

Added to your income at your slab rate

Long-term (LTCG)

12.5%

Held 1 year or more

No indexation, no ₹1.25 L exemption

Your income-tax slab

Sets the short-term (slab-rate) figure above.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Silver ETF

Compare all


DSP Silver ETFThis fund DSP	★★★★☆ CAT	+52.35%	+47.45%	—	—	0.40%	₹1,710Cr
Axis Silver ETF Axis	★★★★★ CAT	+52.12%	+48.46%	—	—	0.42%	₹2,030Cr
UTI Silver Exchange Traded Fund UTI · Direct · Growth	★★★★☆ CAT	+52.07%	+47.49%	—	—	—	₹1,420Cr
Mirae Asset Silver ETF Mirae Asset	★★★★☆ CAT	+52.06%	+47.38%	—	—	0.35%	₹1,071Cr
360 ONE Silver ETF 360 One · Direct · Growth	★★★★★ 1Y CAT	+51.96%	—	—	—	—	₹47.84Cr
Groww Silver ETF Groww	★★★★☆ 1Y CAT	+51.56%	—	—	—	0.53%	₹329.14Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Other99.78%
Cash & Equivalents0.22%

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-44.5%29 Jan 2026 → 23 Mar 2026
Still below that high — 2 months down, and no recovery yet.
-19.7%14 Oct 2025 → 28 Oct 2025
Fell over 14 days, back to the old high on 03 Dec 2025 — 36 days under water after the low.
-16.3%29 May 2024 → 08 Aug 2024
Fell over 2 months, back to the old high on 21 Oct 2024 — 2 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹1,710Cr

April - June 2026

-22%

since January - March 2026

−₹683.29Cr

est. net flow, last quarter

Down +22% from its peak of ₹2,200Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

DSP Mutual Fund is run by DSP Asset Managers, part of the DSP Group, a Mumbai financial firm whose broking lineage runs back to 1860. The house operated as a joint venture with BlackRock — and Merrill Lynch before it — until the DSP family bought out the foreign stake in 2018.

Launched

15 Dec 1996

Total AUM

₹2,29,802Cr+2.0% QoQ

Avg AUM · April - June 2026

Website

dspim.com

Fund Managers

RGRavi GehaniManaging since 19 Aug 2022

Education

MMS Finance, MET Institute of Management, Mumbai B.Com, University of Mumbai, Mumbai

Experience

Over 09 years of experience as under: DSP Silver Apr-2022 - Present, Manager, DSP ETF, DSP Mutual Fund. Multi Asset March 2017 – Apr 2022 – Assistant Allocation Manager, Muthoot Exim Pvt Ltd. Fund Handled various roles in Bullion Price Risk, Products and Operations. April 2015- January 2016- Analyst, Investor Relations- S-Ancial Global Solutions Pvt Ltd. March 2013 - August 2014- Trader, Commodities- Latin Manharlal Commodities Pvt Ltd. Worked as commodities trader.

Funds managed (2)

All schemes Ravi Gehani runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Ravi Gehani

DSP in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Index funds & ETFs

Index funds and ETFs must keep at least 95% in the securities of the index they track, rather than trying to beat it. They charge far lower fees than active funds, and their return is the index's return minus that small cost and any tracking difference.

Frequently asked questions

What is the NAV of DSP Silver ETF?

As of 05 Oct 2026, the NAV of DSP Silver ETF is ₹21.38 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Silver ETF delivered?

DSP Silver ETF has returned +52.35% over 1 year, +47.45% per year over 3 years and +38.32% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of DSP Silver ETF?

DSP Silver ETF charges an expense ratio of 0.40% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of DSP Silver ETF?

DSP Silver ETF's largest holdings are SILVER (99.8%). Holdings are disclosed monthly and change over time.

How risky is DSP Silver ETF?

DSP Silver ETF is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 37.3% and its worst peak-to-trough fall in our sample was -44.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 1.10 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Silver ETF's 1.10 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of DSP Silver ETF?

DSP Silver ETF is benchmarked against the Price of Silver. Its alpha and beta on this page are measured against that index.

Who manages DSP Silver ETF?

DSP Silver ETF is managed by Ravi Gehani at DSP.

How is DSP Silver ETF taxed?

DSP Silver ETF is a non-equity fund (a fund-of-funds, gold, international or balanced-hybrid scheme). Since FY 2025-26 it's no longer taxed like a pure-debt fund: gains on units held more than 1 year are long-term, taxed at 12.5% (no indexation, no ₹1.25 lakh exemption); units held 1 year or less are taxed at your income-tax slab rate.