Axis Silver ETF currently leads the silver ETF category with a six‑month return of –22.4 %. It is followed by Aditya Birla SL Silver ETF and HDFC Silver ETF, which delivered returns of –22.5 % each over the same period, according to ACE MF data on August 4.
The ranking considers only schemes with assets under management of at least Rs 1,500 crore. Among the top five funds that meet this criterion, ICICI Pru Silver ETF has the largest corpus at Rs 13,863.7 crore.
Benchmark comparison is also important. Axis Silver ETF outperformed its benchmark by 92.6 percentage points on a one‑year basis, with the benchmark returning 0.0 %. On a three‑year basis it was ahead by 42.8 percentage points, while the benchmark remained at 0.0 %.
The same scheme also leads the one‑month return chart, delivering –6.4 % over this period.
On the three‑month basis, Axis Silver ETF tops the comparison with a return of –8.8 %.
The order changes on a three‑year basis. ICICI Pru Silver ETF delivered the strongest return among these five schemes at 43.2 %.
The variation across return windows shows why rankings can look different depending on the period being considered. A short‑term leader may not always be the same as the fund that has performed best over a longer horizon.
Exchange‑traded funds are listed mutual fund products that generally track an index, commodity or basket of securities. Their performance should be assessed alongside the underlying benchmark, tracking difference and liquidity.