ICICI Pru Silver ETF has outperformed its peers in the one-year category with a 109.5% return. Managing over Rs 15,985 crore, it currently holds the largest assets among top silver ETFs. While long-term gains remain strong, investors should note that returns fluctuate significantly across different time periods, making consistent performance monitoring essential.
ICICI Pru Silver ETF has recorded a notable one-year compound annual growth rate (CAGR) of 109.5%, positioning it as the top performer within the silver exchange-traded fund category. This return marginally outperformed peers such as Aditya Birla Sun Life Silver ETF and DSP Silver ETF, both of which reported a 109.3% return for the same twelve-month window based on data through early July 2026.
Scale and Market Presence
Beyond its annual performance, the fund holds a significant market position due to its asset size. Among funds with over Rs 1,500 crore in assets under management, ICICI Pru Silver ETF maintains the largest corpus at approximately Rs 15,985.7 crore. This large scale suggests a preference among investors for liquidity and established fund size when tracking commodity-linked instruments. The fund has also demonstrated a consistent ability to track and outperform its benchmark index, a key factor for those looking to mirror silver price movements.
Variability Across Timeframes
While the one-year return highlights strong recent growth, silver ETFs are subject to high volatility based on global commodity price cycles. Performance leaders often change when the analysis shifts to shorter or longer windows. For instance, in more recent one-month and three-month periods, other schemes like Axis Silver ETF and Kotak Silver ETF have recorded different performance rankings. These fluctuations serve as a reminder that commodity ETFs are sensitive to immediate price changes in the underlying metal and are not immune to sharp short-term corrections.
Investor Monitorables for Commodity ETFs
Investors evaluating silver ETFs should look beyond simple return percentages. A primary technical metric is the tracking error, which measures how closely the ETF price follows the actual price of physical silver. Additionally, liquidity—the ease with which units can be bought or sold on the exchange—is critical for managing entry and exit during high-volatility periods. Because silver is a commodity, factors such as global industrial demand, central bank holdings, and currency fluctuations against the US dollar often drive price changes. Investors may consider whether their portfolio needs exposure to the inherent volatility of precious metals and should assess their holding period against the historical performance data of these schemes rather than relying solely on the most recent annual returns.