Top 3 Equity ETFs That Have Outperformed Gold and Silver in 5 Years (2020-25)

Exchange-traded funds (ETFs) linked to gold and silver often attract attention whenever precious metal prices rise. However, over the last 5 years, a few equity ETFs have delivered far stronger returns. As per the AMFI, 3 equity ETFs have generated over 30% annualised returns, thereby outperforming popular metal-based funds. 

Here is a detailed look at them and their investing strategy. 

BHARAT 22 ETF Delivered Annualised Returns of 31.90%

BHARAT 22 ETF has delivered an annualised return of 31.90% in the last 5 years. Launched in 2017, it is managed by ICICI Prudential Mutual Fund. The scheme invests in the BSE Bharat 22 Index, replicating its components in the same proportion.

The ETF includes a mix of public-sector and private companies across diverse sectors. Based on the factsheet dated 31 October 2025, some of its major holdings include:

• Larsen & Toubro Ltd
• ITC Ltd
• State Bank of India
• Bharat Electronics Ltd

These holdings give the ETF exposure to engineering, banking, energy and industrial sectors.

CPSE ETF Delivered Annualised Returns of 37.34%

CPSE ETF, managed by Nippon India Mutual Fund, focuses primarily on central public sector enterprises. It tracks the Nifty CPSE TRI Index and follows a passive investment strategy.

The ETF delivered an impressive 37.34% annualised return over the last five years. According to its 31 October 2025 factsheet, its top holdings include:

• Oil & Natural Gas Corporation Limited
• Coal India Limited
• NTPC Limited
• Power Grid Corporation of India Limited

The ETF has heavy exposure to energy, power and defence-related PSUs.

Kotak Nifty PSU Bank ETF Delivered Annualised Returns of 41.62%

Kotak Nifty PSU Bank ETF tracks the Nifty PSU Bank Index and invests in its components in the same ratio. It is managed by Kotak Mutual Fund.

This ETF has given the highest returns among the three, with an annualised 41.62% over five years. Its benchmark delivered 42.56% during the same period.

As of 31 October 2025, the top holdings include:

• Bank of Baroda
• Canara Bank
• Punjab National Bank
• Indian Bank

The fund is heavily focused on large and mid-sized public-sector banks.

Where to Learn More About These ETFs?

To explore more about each of these ETFs, you can visit Angel One's ETF page. This will give you a comprehensive overview of their latest NAVs, historical performance, and portfolio allocation. 

Moreover, for a broader look at other mutual fund offerings and categories, you can go to Angel One’s mutual fund page.

Read more: NCDEX to Enter Mutual Funds, Equity and Derivatives Market by 2026.

Conclusion

While gold and silver ETFs remain popular safe-haven choices, some equity ETFs have outperformed them by a wide margin over the last five years. BHARAT 22 ETF, CPSE ETF and Kotak Nifty PSU Bank ETF have all delivered strong annualised returns. Investors may review these ETFs to understand their structure, risk level and long-term suitability.

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. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.