ETFGold ETFModerately High

DSP Gold ETF

Q: What is the NAV of DSP Gold ETF?

As of 05 Oct 2026, the NAV of DSP Gold ETF is ₹14.26 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has DSP Gold ETF delivered?

DSP Gold ETF has returned +25.47% over 1 year, +36.24% per year over 3 years and +28.71% 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 Gold ETF?

DSP Gold ETF charges an expense ratio of 0.45% 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 Gold ETF?

DSP Gold ETF's largest holdings are GOLD (98.0%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Gold ETF?

DSP Gold ETF is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 19.1% and its worst peak-to-trough fall in our sample was -22.2%. 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 1.55 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Gold ETF's 1.55 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of DSP Gold ETF?

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

Q: Who manages DSP Gold ETF?

DSP Gold ETF is managed by Ravi Gehani at DSP.

Q: How is DSP Gold ETF taxed?

DSP Gold 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 · Best Gold ETFs

NAV

₹14.26

-0.21% 1D

as of 05 Oct 2026

Compare SIP calculator

Performance

+23.15%absolute

52-week rangePrev NAV ₹14.29

Latest ₹14.26

Low ₹11.4651st percentile of its 52-week rangeHigh ₹16.94

Scorecard

★★★☆☆3/5 vs 7 of 24 Gold 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 within Gold ETF (same plan and option). 7 of the 24 Gold ETF funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceBelow avg

3Y CAGR +36.24% · ranks 11 of 12 Gold ETF funds

RiskLow

Volatility 19.1% vs 21.8% category avg

CostLow

0.5% expense vs 0.5% category avg

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

Less volatile than its Gold ETF peers (19.1% vs 21.8%)
Low expense ratio (0.45%) vs the Gold ETF average of 0.51%
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

0.45%

Category 0.51%▼0.06%

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

—

Category —

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

1.55

Category 1.54▲0.01

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 Gold

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.

28 Apr 2023

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

Definitions

Absolute return over the last 1 month (not annualized)

-4.45%

Absolute return over the last 3 months (not annualized)

+1.04%

Absolute return over the last 6 months (not annualized)

+0.70%

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

+10.61%

Annualized returns (≥1Y — CAGR)

Definitions

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

+25.47%

3-year annualized return (CAGR)

+36.24%

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.

+28.71%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

19.14%

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

1.55

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

2.23

Largest peak-to-trough decline over full history

-22.18%

Benchmark ratios (vs Gold · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Gold

-1.31%

Sensitivity to Gold moves; 1 = moves with the index

1.07

How much of the fund's movement Gold explains

97.1%

Excess return per unit of beta (market risk)

27.03

Active return over the benchmark per unit of tracking error

0.06

Annualized std dev of fund-minus-benchmark returns

3.64%

Fund's share of benchmark gains in up months (100 = matches index)

100.0%

Fund's share of benchmark losses in down months (lower is better)

98.6%

Computed vs the Gold over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Gold ETF)

Period	Fund	Category avg.	Diff
1M abs	-4.45%	-4.36%	-0.09%
3M abs	+1.04%	+1.34%	-0.30%
6M abs	+0.70%	+0.44%	+0.26%
1Y CAGR	+25.47%	+25.30%	+0.17%
3Y CAGR	+36.24%	+36.46%	-0.22%
5Y CAGR	—	+24.79%	—

Category average across peers in Gold ETF (up to 24 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 24 peers in Gold ETF

1Y return

+25.47%

Beats 80% · rank #5

3Y return

+36.24%

Beats 9.1% · rank #11

5Y return

—

Sharpe

1.55

Beats 90.9% · rank #2

Sortino

2.23

Beats 81.8% · rank #3

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

₹5.71L

Absolute

+58.61%

XIRR

+34.19%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into DSP Gold 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	Gold	Diff
2026part	+10.61%	+10.42%	+0.19%
2025	+72.06%	+71.81%	+0.25%
2024	+19.44%	+19.44%	0.00%
2023part	+4.78%	—	—

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; those years show no benchmark comparison.

History points

851

Expense ratio

0.45%

AUM

₹2,318Cr

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 · Gold ETF

Compare all


DSP Gold ETFThis fund DSP	★★★☆☆	+25.47%	+36.24%	—	—	0.45%	₹2,318Cr
UTI - Gold Exchange Traded Fund UTI · Direct · Growth	★★★★☆	+25.76%	+36.93%	+24.99%	—	—	₹3,315Cr
LIC MF Gold Exchange Traded Fund LIC	★★★★★	+25.53%	+36.82%	—	—	0.45%	₹1,420Cr
Invesco India Gold Exchange Traded Fund Invesco · Regular · Growth	—	+25.18%	+36.56%	+24.88%	—	0.50%	₹734.65Cr
Quantum Gold ETF Quantum	★★★☆☆	+25.68%	+36.55%	+24.79%	—	0.55%	₹720.91Cr
ICICI Prudential Gold ETF ICICI Prudential	★★★★☆	+25.46%	+36.44%	+24.87%	—	0.49%	₹26,432Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Other98.02%
Cash & Equivalents1.98%

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.

-22.2%29 Jan 2026 → 23 Mar 2026
Still below that high — 2 months down, and no recovery yet.
-9.3%17 Oct 2025 → 28 Oct 2025
Fell over 11 days, back to the old high on 12 Dec 2025 — 1 months under water after the low.
-8.1%21 May 2024 → 26 Jul 2024
Fell over 2 months, back to the old high on 23 Sep 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

₹2,318Cr

April - June 2026

+12%

since January - March 2026

+₹177.44Cr

est. net flow, last quarter

At or near its largest, ₹2,318Cr in April - June 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 28 Apr 2023

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 Gold funds & ETFs

Gold ETFs hold physical gold of standard purity and track its domestic price, so a unit is a claim on bullion rather than on a company. Gold funds-of-funds hold the ETF instead, which is what lets you buy them as a SIP without a demat account.

Frequently asked questions

What is the NAV of DSP Gold ETF?

As of 05 Oct 2026, the NAV of DSP Gold ETF is ₹14.26 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Gold ETF delivered?

DSP Gold ETF has returned +25.47% over 1 year, +36.24% per year over 3 years and +28.71% 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 Gold ETF?

DSP Gold ETF charges an expense ratio of 0.45% 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 Gold ETF?

DSP Gold ETF's largest holdings are GOLD (98.0%). Holdings are disclosed monthly and change over time.

How risky is DSP Gold ETF?

DSP Gold ETF is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 19.1% and its worst peak-to-trough fall in our sample was -22.2%. 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 1.55 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Gold ETF's 1.55 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of DSP Gold ETF?

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

Who manages DSP Gold ETF?

DSP Gold ETF is managed by Ravi Gehani at DSP.

How is DSP Gold ETF taxed?

DSP Gold 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.