SBI Gold Fund Direct Growth NAV Declines to ₹45.96 on 17 September; 1-Year Return at 36.48%

Key Takeaways

• SBI Gold Fund Direct Growth NAV declined 0.38% to ₹45.96 on 17 September 2026. The daily fall was relatively modest compared with the fund's longer-period historical returns. 
• The scheme recorded a one-year return of 36.48%, a three-year CAGR of 35.38% and a five-year CAGR of 25.42%. The one- and three-year figures were relatively close, differing by 1.10 percentage points. 
• SBI Gold ETF represented 100.13% of the disclosed portfolio, with TREPS at 0.37% and net current assets and other items at -0.50%. These figures mathematically reconcile to 100%. 
• Fund size stood at approximately ₹17,647 crore and the Direct Growth expense ratio was 0.24%. The minimum SIP and lump-sum investments were ₹500 and ₹5,000, respectively. 

SBI Gold Fund Direct Growth NAV declined 0.38% to ₹45.96 on 17 September 2026. Its three-year CAGR stood at 35.38%. The scheme managed approximately ₹17,647 crore and carried a Direct Growth expense ratio of 0.24%. Minimum investments stood at ₹500 through SIP and ₹5,000 through a lump sum. 

The latest one-year return was 36.48%, slightly above the three-year annualised return of 35.38%. The difference between the two periods was 1.10 percentage points. Over five years, the CAGR stood at 25.42%, which was 9.96 percentage points below the three-year figure. 

The portfolio derives its exposure predominantly through SBI Gold ETF rather than through direct equity holdings. The ETF represented 100.13% of the disclosed allocation. TREPS accounted for 0.37%, while net current assets and other items stood at -0.50%. Together, those three components reconcile mathematically to 100.00%. 

The ETF weight above 100% therefore does not mean the scheme holds more than 100% in unadjusted physical gold. It reflects the interaction of the underlying ETF exposure with cash-related and current-liability adjustments in the portfolio accounting. 

Historical standard deviation stood at 5.40, while the Sharpe ratio was 1.47. Alpha was listed at 27.70 and beta at -0.08 under the reported calculation framework. These statistics are historical measurements and do not determine the future movement of gold prices or the scheme's NAV. 

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.