Best Gold ETFs with Low Tracking Error in November 2026

In November 2026, investors seeking exposure to gold through exchange-traded funds (ETFs) can consider options with low tracking errors. These ETFs aim to closely follow the performance of gold prices, providing a reliable investment avenue.  

Gold ETFs with low tracking error tend to closely mirror domestic gold prices, offering investors a cost-efficient and transparent way to gain exposure to gold. Here is a list of Gold ETFs with low tracking error for November 2026.  

Gold Exchange-Traded Funds (ETFs) are investment instruments that aim to track the domestic price of physical gold by investing primarily in gold bullion or related assets. Since these ETFs are traded on stock exchanges like regular shares, investors can benefit from movements in gold prices without dealing with the challenges of storing physical gold or concerns about purity and security.  

One important measure used to evaluate gold ETFs is tracking error. This metric shows how closely a fund’s performance matches its benchmark, which is usually the domestic price of gold.  

Here are the top 5 gold ETFs with minimal tracking errors.  

Top Gold ETFs with Low Tracking Error in November 2026 

Note: In the above data, the AUM as of September 30, 2026, and NAV as of October 30, 2026. 

HSBC Gold ETF 

The HSBC Gold ETF has an asset under management (AUM) of ₹674.2 crore and an expense ratio of 0.62%. This open-ended fund tracks the Gold-India benchmark to mirror physical gold performance.  

Its net asset value (NAV) stands at ₹121.23 with a 1-year return of -1.99%. The ETF demonstrates the lowest tracking error in this selection at 19.34%, alongside a volatility score of 1.35 against the Nifty.  

LIC MF Gold ETF 

The LIC MF Gold ETF features an AUM of ₹1,441.2 crore and an expense ratio of 0.45%. This open-ended fund closely follows the domestic price of gold. The fund's NAV is currently positioned at ₹125.40, yielding a strong 1-year return of 15.74%. It maintains a highly competitive tracking error of 25.13% and a volatility vs Nifty of 2.01.  

Invesco India Gold ETF 

The Invesco India Gold ETF manages an AUM of ₹753.7 crore with an expense ratio of 0.50%. Designed to replicate the performance of the Gold-India benchmark, this open-ended fund holds an NAV of ₹121.05. It achieved a 1-year return of 16.39%, presenting a tracking error of 25.48% and a volatility vs Nifty profile of 2.30.  

Mirae Asset Gold ETF 

The Mirae Asset Gold ETF commands the largest AUM in this group at ₹3,469.8 crore, offering a low expense ratio of 0.35%. Following the Gold-India benchmark, this open-ended fund has an NAV of ₹135.41 and delivered a 1-year return of 15.76%. Its tracking error is contained at 25.52%, paired with a volatility vs Nifty score of 1.95.  

DSP Gold ETF 

The DSP Gold ETF manages an AUM of ₹2,841.3 crore with an expense ratio of 0.45%. Built as an open-ended investment to trace domestic gold values, its NAV stands at ₹13.53. The fund posted a 1-year return of 15.70%, maintaining a tracking error of 25.59% and a volatility vs Nifty of 2.15.  

Read More: Best 5 Performing Equity Mutual Funds in India for November 2026 Based on 5-Year CAGR! 

How to Choose the Right Gold ETF? 

While checking gold ETFs with low tracking error, investors may evaluate the following factors:  

• Expense Ratio: Funds with lower costs generally tend to have lower tracking deviation over time. 
• Liquidity: Higher trading volumes usually result in narrower bid-ask spreads, making entry and exit more efficient. 
• Assets Under Management (AUM): Larger funds often benefit from operational efficiencies and better cost management. 
• Historical Tracking Difference: Reviewing performance consistency across multiple timeframes can provide insight into how effectively a fund mirrors gold prices.  

Conclusion 

In November 2026, the top 5 gold ETFs with low tracking errors include HSBC Gold ETF, LIC MF Gold ETF, Invesco India Gold ETF, Mirae Asset Gold ETF, and DSP Gold ETF. These funds offer investors efficient gold exposure with tracking errors ranging from 19.34% to 25.59%.  

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.