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Which Gold ETFs delivered the highest 3-year and 5-year returns as September inflows surged?
4 min read | Updated on October 15, 2026, 07:25 IST
SUMMARY
As investor interest in precious-metal funds continues, data from ACE MF as of October 13, 2026, shows how gold ETFs have performed over three and five years. The comparison highlights differences in long-term returns across schemes, offering investors a way to assess performance beyond short-term market movements.
Gold ETFs offer exposure to domestic gold prices without the need to store physical gold. However, their prices can fluctuate, and past performance does not guarantee future returns.
Gold exchange-traded funds (ETFs) attracted ₹4,451 crore in September, up from ₹2,597 crore in August, according to data released by the Association of Mutual Funds in India (AMFI) on October 12. Silver ETFs also recorded net inflows of ₹1,974 crore during the month.
One important thing to note here is how we have chosen these funds for comparison. Instead of Gold ETFs based on AUM.
Before reading further, please note that this is just for informational purposes only and not intended to recommend any of the schemes mentioned below. You should make an investment decision based on your personal financial goals and risk appetite.
Which gold ETFs delivered the highest 3-year returns?
As per the data available on ACE MF, UTI Gold ETF recorded the highest three-year return at 35.43%, followed by LIC MF Gold ETF at 35.32% and Invesco India Gold ETF at 35.08%.
ICICI Prudential Gold ETF delivered a three-year return of 34.95%, while Axis Gold ETF returned 34.95%. HDFC Gold ETF posted a return of 34.87%, followed by Kotak Gold ETF at 34.83%, Mirae Asset Gold ETF at 34.83%, Nippon India ETF Gold BeES at 34.62% and SBI Gold ETF at 34.80%.
How did gold ETFs perform over five years?
Over the five-year period, LIC MF Gold ETF recorded a return of 24.69%, while UTI Gold ETF delivered 24.48%. Invesco India Gold ETF posted a return of 24.38%, followed by Axis Gold ETF at 24.30% and ICICI Prudential Gold ETF at 24.37%.
Kotak Gold ETF returned 24.29%, HDFC Gold ETF posted 24.25%, SBI Gold ETF delivered 24.17% and Nippon India ETF Gold BeES recorded 24.09%.
The differences between the schemes are relatively narrow over the five-year period, indicating that their reported long-term performance has been broadly similar.
| Gold ETF | 3-year return | 5-year return |
|---|---|---|
| UTI Gold ETF | 35.43% | 24.48% |
| LIC MF Gold ETF | 35.32% | 24.69% |
| Invesco India Gold ETF | 35.08% | 24.38% |
| ICICI Prudential Gold ETF | 34.95% | 24.37% |
| Axis Gold ETF | 34.95% | 24.30% |
| HDFC Gold ETF | 34.87% | 24.25% |
| Kotak Gold ETF | 34.83% | 24.29% |
| SBI Gold ETF | 34.80% | 24.17% |
| Nippon India ETF Gold BeES | 34.62% | 24.09% |
Gold ETFs see short-term weakness
Despite delivering positive returns over the longer term, gold ETFs have seen some weakness in recent weeks. ACE MF data as of October 13, 2026, shows that the one-month returns of the schemes analysed were negative, ranging from -2.90% for ICICI Prudential Gold ETF to -2.93% for Nippon India ETF Gold BeES. The short-term dip highlights the fluctuations investors may experience even when a fund has delivered positive returns over three and five years.
What should investors consider?
The September inflow figures point to continued investor interest in gold ETFs, while the ACE MF data provides a comparison of how selected schemes have performed over three and five years.
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