Invest in gold seamlessly with Gold ETFs. Explore the best Gold ETFs in India for 2024 based on CAGR and expense ratio.
Gold has been a trusted investment for centuries in India. In times of economic uncertainty, investors often turn to this precious metal for stability and value retention. Gold Exchange Traded Funds (ETFs) are a modern and convenient avenue for investing in the yellow metal. In this article, check the best gold ETFs in 2024.
What Is a Gold ETF?
A Gold Exchange Traded Fund is a financial instrument that offers investors a convenient and cost-effective way to invest in gold. Gold ETFs are traded on stock exchanges, providing liquidity and flexibility.
Each unit of a Gold ETF represents a specific amount of gold, allowing investors to gain exposure to the price changes of the precious metal without the challenges of storage and security. These funds track the performance of gold bullion and offer a diversified and easily tradable investment option for those seeking to include gold in their portfolios.
Best Gold ETF in India 2024 Based on the CAGR
| Name | Market Cap (₹ in crore) | 1Y Return (%) | 5Y CAGR (%) |
| IDBI Gold Exchange Traded Fund | 95.12 | 10.12 | 13.87 |
| Kotak Gold ETF | 1,984.14 | 10.20 | 13.84 |
| Aditya BSL Gold ETF | 353.23 | 10.60 | 13.76 |
| SBI-ETF Gold | 2,644.09 | 10.28 | 13.76 |
| Invesco India Gold Exchange Traded Fund | 74.22 | 9.80 | 13.70 |
| ICICI Prudential Gold ETF | 1,905.05 | 10 | 13.63 |
| HDFC Gold Exchange Traded Fund | 1,906.09 | 10.06 | 13.51 |
| Nippon India ETF Gold BeES | 5,168.88 | 9.85 | 13.43 |
| Quantum Gold Fund | 130.03 | 9.95 | 13.40 |
| UTI Gold Exchange Traded Fund | 651.54 | 10.40 | 13.37 |
Note: The list of Gold ETFs listed here are as of January 9, 2024 and are selected based on the 5-year CAGR.
Overview of the 5 Best Gold ETFs in India
- IDBI Gold Exchange Traded Fund
This is an open-ended scheme from IDBI Mutual Fund. This fund replicates or tracks the performance of the domestic price of physical gold.
- Kotak Gold ETF
This is an open-ended scheme from Kotak Mutual Fund. This fund takes the domestic price of physical gold as a benchmark.
- Aditya BSL Gold ETF
The next best gold ETF in the list is from Aditya Birla Sun Life Mutual Fund. This fund is an open-ended scheme that tracks the physical price of Gold.
- SBI-ETF Gold
This ETF from SBI Mutual Fund is one of the best Gold ETFs in India. The fund’s aim is to generate returns that are similar to the returns on the price of gold through investment in physical gold.
- Invesco India Gold Exchange Traded Fund
This fund is from Invesco India Mutual Fund. The fund replicates or tracks the performance of the domestic price of physical gold.
Best Gold ETF in India 2024 Based on the Expense Ratio
| Name | Market Cap (₹ in crore) | 1Y Return (%) | 5Y CAGR (%) | Expense Ratio (%) |
| Baroda BNP Paribas Gold ETF | – | 0.24 | – | – |
| Nippon India ETF Gold BeES | 5,168.88 | 9.85 | 13.43 | 0.79 |
| Quantum Gold Fund | 130.03 | 9.95 | 13.40 | 0.78 |
| SBI-ETF Gold | 2,644.09 | 10.28 | 13.76 | 0.65 |
| HDFC Gold Exchange Traded Fund | 1,906.09 | 10.06 | 13.51 | 0.59 |
| Axis Gold ETF | 319.17 | 10.18 | 13.33 | 0.56 |
| Invesco India Gold Exchange Traded Fund | 74.22 | 9.80 | 13.70 | 0.55 |
| Kotak Gold Etf | 1,984.14 | 10.20 | 13.84 | 0.55 |
| Aditya BSL Gold ETF | 353.23 | 10.60 | 13.76 | 0.54 |
| ICICI Prudential Gold ETF | 1,905.05 | 10 | 13.63 | 0.5 |
Note: The list of Gold ETFs listed here are as of January 9, 2024, and are selected based on the expense ratio.
Conclusion
Gold ETFs serve as a reliable avenue for investors to capitalise on the potential of gold in a hassle-free manner. Their liquidity and ability to closely mirror gold prices make them an attractive choice.
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Disclaimer: This article has been written for educational purposes only. The securities quoted are only examples and not recommendations.
