Kotak Silver ETF: Turned ₹10K Investment into More Than ₹26K in 3 Year Tenure

The Kotak Silver ETF has completed three years since its launch in December 2022, delivering impressive returns amid a sustained multi-year rally in silver prices. A ₹10,000 investment at inception would have grown to ₹26,132 by November 30, 2025, reflecting a CAGR of over 37%, according to data shared by Kotak Mutual Fund.

The ETF’s Assets Under Management (AUM) crossed ₹2,630 crore at the end of November, making it one of the largest silver-focused passive funds in India. The scheme primarily aims to mirror domestic silver prices, based on the LBMA silver spot price, while maintaining flexibility to invest in silver-related instruments.

Fund Management and Costs

The fund is managed by Jeetu Valechha Sonar and Abhishek Bisen, with a modest expense ratio of 0.45%. Its strong performance has been largely driven by:

• A robust upswing in silver prices
• Healthy industrial demand for silver
• Inflows into precious metals
• Supportive global macroeconomic trends

Also Read: What Are the Factors Driving Equity Mutual Funds Inflows in November 2025

Caution on Volatility

While the ETF has delivered strong historical returns, analysts emphasize that silver prices remain volatile. Factors that can influence performance include:

• Global interest rate movements
• Geopolitical developments
• Fluctuations in industrial demand

Commodity ETFs, including silver, can experience sharp drawdowns, and past performance may not be indicative of future outcomes.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/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.