ETFSilver ETFHigh

Mirae Asset Silver ETF

Q: What is the NAV of Mirae Asset Silver ETF?

As of 05 Oct 2026, the NAV of Mirae Asset Silver ETF is ₹216.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mirae Asset Silver ETF delivered?

Mirae Asset Silver ETF has returned +52.06% over 1 year, +47.38% per year over 3 years and +38.45% 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 Mirae Asset Silver ETF?

Mirae Asset Silver ETF charges an expense ratio of 0.35% 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 Mirae Asset Silver ETF?

Mirae Asset Silver ETF's largest holdings are (a) Silver (98.0%). Holdings are disclosed monthly and change over time.

Q: How risky is Mirae Asset Silver ETF?

Mirae Asset Silver ETF is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 35.6% and its worst peak-to-trough fall in our sample was -44.4%. 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 1.15 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mirae Asset Silver ETF's 1.15 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Mirae Asset Silver ETF?

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

Q: Who manages Mirae Asset Silver ETF?

Mirae Asset Silver ETF is managed by Akshay Udeshi and Ritesh Patel at Mirae Asset.

Q: How is Mirae Asset Silver ETF taxed?

Mirae Asset 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.

Mirae Asset Mutual Fund

NAV

₹216.00

+1.04% 1D

as of 05 Oct 2026

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NAV history

+48.63%absolute

52-week rangePrev NAV ₹213.77

Latest ₹216.00

Low ₹138.8034th percentile of its 52-week rangeHigh ₹365.28

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

RiskLow

Volatility 35.6% vs 41.2% category avg

Cost—

0.3% 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

Less volatile than its Silver ETF peers (35.6% vs 41.2%)
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

0.35%

Category —

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

—

Category —

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

1.15

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

—

Domestic Price of Physical 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.

12 Jun 2023

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

Definitions

Absolute return over the last 1 month (not annualized)

-4.92%

Absolute return over the last 3 months (not annualized)

-4.23%

Absolute return over the last 6 months (not annualized)

-1.88%

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

-2.74%

Annualized returns (≥1Y — CAGR)

Definitions

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

+52.06%

3-year annualized return (CAGR)

+47.38%

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.

+38.45%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

35.58%

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

1.15

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

1.60

Largest peak-to-trough decline over full history

-44.39%

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	-4.92%	-4.94%	+0.02%
3M abs	-4.23%	-4.28%	+0.05%
6M abs	-1.88%	-1.91%	+0.03%
1Y CAGR	+52.06%	+52.01%	+0.05%
3Y CAGR	+47.38%	—	—
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

+52.06%

Beats 40% · rank #4

3Y return

+47.38%

—

5Y return

—

Sharpe

1.15

—

Sortino

1.60

—

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

₹7.11L

Absolute

+97.44%

XIRR

+52.39%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into Mirae Asset 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	-2.74%
2025	+160.87%
2024	+16.55%
2023part	-0.54%

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

818

Expense ratio

0.35%

AUM

₹1,176Cr

Portfolio turnover

39%

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


Mirae Asset Silver ETFThis fund Mirae Asset	★★★★☆ CAT	+52.06%	+47.38%	—	—	0.35%	₹1,176Cr
Axis Silver ETF Axis	★★★★★ CAT	+52.12%	+48.46%	—	—	0.42%	₹1,995Cr
UTI Silver Exchange Traded Fund UTI · Direct · Growth	★★★★☆ CAT	+52.07%	+47.49%	—	—	—	₹1,376Cr
DSP Silver ETF DSP	★★★★☆ CAT	+52.35%	+47.45%	—	—	0.40%	₹1,445Cr
360 ONE Silver ETF 360 One · Direct · Growth	★★★★★ 1Y CAT	+51.96%	—	—	—	—	₹45.26Cr
Groww Silver ETF Groww	★★★★☆ 1Y CAT	+51.56%	—	—	—	0.53%	₹316.22Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Other97.99%
Cash & Equivalents2.01%

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.

-44.4%29 Jan 2026 → 23 Mar 2026
Still below that high — 2 months down, and no recovery yet.
-19.8%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.
-16.2%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

₹1,176Cr

July - September 2026

+16%

since January - March 2026

+₹243.25Cr

est. net flow, last quarter

At or near its largest, ₹1,176Cr in July - September 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

Mirae Asset Mutual Fund is the Indian arm of Mirae Asset, the South Korean manager, and has operated here since 2008. Its growth came largely from a small number of large equity schemes rather than a wide line-up.

Launched

29 Nov 2007

Total AUM

₹2,37,421Cr+5.5% QoQ

Avg AUM · July - September 2026

Website

miraeassetmf.co.in

Fund Managers

AUAkshay UdeshiStart date not disclosed

Role

Fund Manager

Education

MBA - Finance; B.E (Electronics)

Experience

Mr. Akshay Udeshi has over 6 years of experience in the field of financial services. He has been associated with the AMC since June 2021. Prior to this assignment, Mr. Udeshi was associated with Reliance Retail Limited where he was involved in product development in the affordability space. He also has an experience with L&T Financial Services where he was involved in product management of secured lending products.

Funds managed (36)

All schemes Akshay Udeshi runs →

RPRitesh PatelStart date not disclosed

Role

Head – Compliance, Legal and Company Secretary

Education

B.Com. F.C.S., LL.B.

Experience

Mr. Ritesh Patel has over 13 years of Mr. Akshay Udeshi has over 6 years experience in the field of of Commodities Market. Prior to this financial services. He assignment, Mr. Patel has worked as associated with the AMC since June Aditya Birla Money Ltd, IIFL 2021. Prior to this assignment, Mr. Securities, Ventura Securities and Udeshi choice broking Pvt. Ltd.

Funds managed (21)

All schemes Ritesh Patel runs →

We don't hold this scheme's own Scheme Information Document. The managers shown are those named on it in this fund house's filings for its other schemes, so the list may be incomplete. Total AUM via AMFI.

Explore from here

Fund managers

Akshay Udeshi Ritesh Patel

Mirae Asset 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 Mirae Asset Silver ETF?

As of 05 Oct 2026, the NAV of Mirae Asset Silver ETF is ₹216.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Mirae Asset Silver ETF delivered?

Mirae Asset Silver ETF has returned +52.06% over 1 year, +47.38% per year over 3 years and +38.45% 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 Mirae Asset Silver ETF?

Mirae Asset Silver ETF charges an expense ratio of 0.35% 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 Mirae Asset Silver ETF?

Mirae Asset Silver ETF's largest holdings are (a) Silver (98.0%). Holdings are disclosed monthly and change over time.

How risky is Mirae Asset Silver ETF?

Mirae Asset Silver ETF is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 35.6% and its worst peak-to-trough fall in our sample was -44.4%. 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 1.15 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mirae Asset Silver ETF's 1.15 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Mirae Asset Silver ETF?

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

Who manages Mirae Asset Silver ETF?

Mirae Asset Silver ETF is managed by Akshay Udeshi and Ritesh Patel at Mirae Asset.

How is Mirae Asset Silver ETF taxed?

Mirae Asset 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.