Gold ETF AUM rises to Rs 1.86 lakh crore, top 5 schemes account for 80 pc of assets

Mumbai, Oct 29 (IANS) India’s gold exchange-traded fund (ETF) industry managed assets worth Rs 1.86 lakh crore across 26 schemes as of September 30, 2026, a report said on Thursday.

The data compiled by ICRA Analytics highlights the continued dominance of a handful of large schemes, with the top five gold ETFs accounting for 80.2 per cent of the category’s total assets under management (AUM). Together, these funds manage nearly Rs 1.49 lakh crore.

Nippon India ETF Gold BeES remained the largest scheme in the segment with an AUM of Rs 56,982 crore, representing 30.6 per cent of the category.

It was followed by ICICI Prudential Gold ETF with assets of Rs 27,615 crore, SBI Gold ETF at Rs 26,466 crore, HDFC Gold ETF at Rs 23,900 crore and Kotak Gold ETF at Rs 14,473 crore.

The concentration within the category remains significant, with the top three schemes accounting for nearly 60 per cent of total AUM, while the top two together command around 45 per cent of industry assets.

The next five largest schemes include Tata Gold Exchange Traded Fund, Axis Gold ETF, UTI Gold Exchange Traded Fund, Mirae Asset Gold ETF and Aditya Birla Sun Life Gold ETF.

Combined with the top five funds, these schemes account for 92.4 per cent of the category’s assets.

Commenting on the trend, Ashwini Kumar, Senior Vice President and Head of Market Data at ICRA Analytics, said that while India’s gold ETF market has expanded substantially, assets continue to remain concentrated in the largest schemes.

“India’s gold ETF market has grown substantially, but assets remain concentrated, with the five largest schemes accounting for about 80 per cent of category AUM. Although newer schemes hold a relatively small share of assets, their ability to scale will be an important indicator of how competition evolves. The close alignment in returns across schemes also suggests that performance differences alone do not explain the concentration,” Kumar stated.

While newer entrants have gained some traction, their market share remains relatively modest.

Thirteen schemes with less than three years of return history collectively manage Rs 14,575 crore, or around 8 per cent of the total category AUM.

–IANS

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