FoFFoF DomesticRegularGrowthHigh

DSP Silver ETF Fund of Fund

Q: What is the NAV of DSP Silver ETF Fund of Fund?

As of 01 Oct 2026, the NAV of DSP Silver ETF Fund of Fund is ₹22.53 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 Fund of Fund delivered?

DSP Silver ETF Fund of Fund has returned +48.08% over 1 year and +80.08% 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 Fund of Fund?

DSP Silver ETF Fund of Fund charges an expense ratio of 1.00% 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 Fund of Fund?

DSP Silver ETF Fund of Fund's largest holdings are DSP Silver ETF (100.0%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Silver ETF Fund of Fund?

DSP Silver ETF Fund of Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 52.4% and its worst peak-to-trough fall in our sample was -45.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of DSP Silver ETF Fund of Fund?

DSP Silver ETF Fund of Fund 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 Fund of Fund?

DSP Silver ETF Fund of Fund is managed by Anil Ghelani, Neha Rathi and Diipesh Shah at DSP.

Q: How is DSP Silver ETF Fund of Fund taxed?

DSP Silver ETF Fund of Fund 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 2 years are long-term, taxed at 12.5% (no indexation, no ₹1.25 lakh exemption); units held 2 years or less are taxed at your income-tax slab rate.

DSP Mutual Fund · Best Domestic Fund of Funds

NAV

₹22.53

-0.38% 1D

as of 01 Oct 2026

This is the Regular plan of DSP Silver ETF Fund of Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+51.79%CAGR

52-week rangePrev NAV ₹22.62

Latest ₹22.53

Low ₹14.5334th percentile of its 52-week rangeHigh ₹37.91

Scorecard

★★★★★5/5 vs 115 of 152 FoF Domestic peers1Y

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 FoF Domestic (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 115 of the 152 FoF Domestic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough FoF Domestic peers to rank yet

RiskHigh

Volatility 52.4% vs 17.1% category avg

CostHigh

1.0% expense vs 0.7% category avg

Consistency—

Not enough history for a rolling 3Y view

Strengths & concerns

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

Strengths

1-year return (+48.08%) beats the FoF Domestic average (+10.95%)
Ranks #3 of 115 on 1-year return in its FoF Domestic cohort

Concerns

Trails the FoF Domestic average on 1M/3M/6M
More volatile than its FoF Domestic peers (52.4% vs 17.1%)
High expense ratio (1.00%) vs the FoF Domestic average of 0.69%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.00%

Category 0.69%▲0.31%

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

—

Category —

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

—

Category 0.63

Scheme Info

Definitions

Plan

Regular · Growth

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

None

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.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

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.

15 May 2025

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

Definitions

Absolute return over the last 1 month (not annualized)

-4.85%

Absolute return over the last 3 months (not annualized)

-1.54%

Absolute return over the last 6 months (not annualized)

-7.55%

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

-3.83%

Annualized returns (≥1Y — CAGR)

Definitions

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

+48.08%

3-year annualized return (CAGR)

—

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.

+80.08%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

52.45%

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

—

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

—

Largest peak-to-trough decline over full history

-45.46%

Benchmark ratios

Not shown for FoF Domestic — 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 (FoF Domestic)

Period	Fund	Category avg.	Diff
1M abs	-4.85%	-3.22%	-1.63%
3M abs	-1.54%	-0.31%	-1.23%
6M abs	-7.55%	+3.72%	-11.27%
1Y CAGR	+48.08%	+10.95%	+37.13%
3Y CAGR	—	+18.72%	—
5Y CAGR	—	+12.65%	—

Category average across peers in FoF Domestic (151 of 152 carry a figure for at least one period), 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 152 peers in FoF Domestic

1Y return

+48.08%

Beats 98.2% · rank #3

3Y return

—

5Y return

—

Sharpe

—

Sortino

—

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

₹1.20L

Current value

₹1.18L

Absolute

-1.43%

XIRR

-3.09%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into DSP Silver ETF Fund of Fund, 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	-3.83%
2025part	+134.14%

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

343

Expense ratio

1.00%

AUM

₹738.29Cr

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 2 years get the 12.5% long-term rate; shorter holdings are taxed at your income-tax slab rate.

Short-term

30%

Held under 2 years

Added to your income at your slab rate

Long-term (LTCG)

12.5%

Held 2 years 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 · FoF Domestic

Compare all


DSP Silver ETF Fund of FundThis fund DSP · Regular · Growth	★★★★★ 1Y	+48.08%	—	—	—	1.00%	₹738.29Cr
Mirae Asset NYSE FANG + ETF Fund of Fund Mirae Asset · Regular · Growth	★★★★★	+45.76%	+58.41%	+35.98%	—	0.41%	₹2,418Cr
Mirae Asset S&P 500 Top 50 ETF Fund of Fund Mirae Asset · Regular · Growth	★★★★★	+47.60%	+45.91%	+29.33%	—	0.42%	—
UTI Silver ETF Fund of Fund UTI · Regular · Growth	★★★★★	+47.56%	+42.77%	—	—	0.46%	₹620.81Cr
Axis Silver Fund of Fund Axis · Regular · Growth	★★★★☆	+48.05%	+42.65%	—	—	0.65%	₹1,209Cr
HDFC Silver ETF Fund of Fund HDFC · Regular · Growth	★★★★☆	+47.41%	+42.47%	—	—	0.55%	₹4,593Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Other99.95%
Cash & Equivalents0.05%

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.

-45.5%29 Jan 2026 → 23 Mar 2026
Still below that high — 2 months down, and no recovery yet.
-20.6%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.
-10.3%21 Jan 2026 → 22 Jan 2026
Fell over 1 day, back to the old high on 27 Jan 2026 — 5 days 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.

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

AGAnil GhelaniStart date not disclosed

Education

Chartered Financial Analyst (CFA Institute USA) Chartered Accountant (ICAI India) B. Com. (H. R. College University of Mumbai)

Experience

Over 27 years of experience as under: From April 01, 2023 till date - DSP BSE Sensex Next 30 DSPAM – Head of Passive Investments & Products. From April 16, 2018 to March 31, 2023 - DSPIM – Head of Passive Investments Products. From January 2013 to April Liquid ETF 2018, DSP Pension Fund Managers Pvt. Ltd. - Business Head & Chief Investment Officer From December 2014 to April 15, 2018 - DSPIM – Senior Vice President, Products & Passive Investments From January 2006 December 2012 - DSPIM – Head of Risk & Quantitative Analysis ETF (RQA) From July 2003 to December 2005 - DSPIM - AVP - Fund Administration From February 2003 to July 2003 - IL&FS Asset Management Company - Asst. Manager – Fund Operations From February 2000 to January 2003 - S. R. Batliboi (member firm of Ernst & Young) – CA articleship till Jan DSP Nifty Smallcap250 2002 Executive from Feb 2002 From August 1998 to June 2000 - V. C. Shah & Co., Chartered Accountants - CA articleship

Funds managed (37)

All schemes Anil Ghelani runs →

NRNeha RathiStart date not disclosed

Education

Chartered Accountant, Bcom

Experience

Over 08 years of experience DSP Asset Managers Private Limited- From January 2024 onwards Aditya Birla Sun Life AMC Limited – Investment Equity – Sept 2021- to Dec 2023 Deloitte Touche Tohmatsu India – in Risk Advisory – May DSP 2021 to Aug 2021 ICICI Prudential Asset Management Company Ltd – in Weight ETF Investment Compliance – Nov 2018 to April 2021

Funds managed (31)

All schemes Neha Rathi runs →

DSDiipesh ShahStart date not disclosed

Education

Candidate of the CFA Program, CFA Institute DSPAM USA, Level I Cleared

Experience

Over 22 years of experience as under: From April 2023 till date - DSP – ETF Weight Index Fund, I and Passive Investments. From November 1, 2020 to March 31, 2023- DSPIM – Fund Manager – ETF and Passive Investments. From September 2019 October 2020 - DSPIM – Dealer – ETF and Passive Investments. From August 2018 to September, 2019 - JM Financial Institutional DSP Broking Limited as Institutional Equity Sales Trading. From June 2014 to July 2018 - Centrum Boking Limited as Institutional Fund, Equity Sales Trading. From September 2013 to June 2014 - JM Financial Institutional Broking Limited as Institutional ETF, Equity Sales Trading. From January 2011 to August 2013 - IDFC Securities Limited as Institutional Equity Sales Trading From July 2010 to September 2010 - Kotak Securities Limited as Institutional Equity Sales Trading

Funds managed (25)

All schemes Diipesh Shah runs →

Fund manager, benchmark and dealing terms from 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

Anil Ghelani Neha Rathi Diipesh Shah

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.

Frequently asked questions

What is the NAV of DSP Silver ETF Fund of Fund?

As of 01 Oct 2026, the NAV of DSP Silver ETF Fund of Fund is ₹22.53 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Silver ETF Fund of Fund delivered?

DSP Silver ETF Fund of Fund has returned +48.08% over 1 year and +80.08% 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 Fund of Fund?

DSP Silver ETF Fund of Fund charges an expense ratio of 1.00% 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 Fund of Fund?

DSP Silver ETF Fund of Fund's largest holdings are DSP Silver ETF (100.0%). Holdings are disclosed monthly and change over time.

How risky is DSP Silver ETF Fund of Fund?

DSP Silver ETF Fund of Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 52.4% and its worst peak-to-trough fall in our sample was -45.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of DSP Silver ETF Fund of Fund?

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

Who manages DSP Silver ETF Fund of Fund?

DSP Silver ETF Fund of Fund is managed by Anil Ghelani, Neha Rathi and Diipesh Shah at DSP.

How is DSP Silver ETF Fund of Fund taxed?

DSP Silver ETF Fund of Fund 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 2 years are long-term, taxed at 12.5% (no indexation, no ₹1.25 lakh exemption); units held 2 years or less are taxed at your income-tax slab rate.