Gold ETF Assets Reach Rs 1.86 Lakh Crore; Top Five Schemes Hold 80% Share

India’s gold exchange-traded fund (ETF) industry managed assets worth Rs 1.86 lakh crore across 26 schemes as of September 30, 2026, according to a report by ICRA Analytics released on Thursday.

The data highlights the category’s concentration, with the five largest schemes accounting for 80.2 per cent of total assets under management (AUM). Together, these funds manage nearly Rs 1.49 lakh crore.

Nippon India ETF Gold BeES led the segment with an AUM of Rs 56,982 crore, accounting for 30.6 per cent of the category’s assets.

ICICI Prudential Gold ETF ranked second with Rs 27,615 crore, followed by SBI Gold ETF at Rs 26,466 crore.

HDFC Gold ETF managed Rs 23,900 crore, while Kotak Gold ETF held assets worth Rs 14,473 crore.

The top three schemes accounted for nearly 60 per cent of the category’s total AUM. The top two alone controlled around 45 per cent of industry assets.

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

Together, the top 10 schemes accounted for 92.4 per cent of the category’s assets.

Ashwini Kumar, Senior Vice President and Head of Market Data at ICRA Analytics, said the market had expanded substantially, but assets remained concentrated among the largest schemes.

He added that newer funds’ ability to attract assets would indicate how competition evolves. Similar returns across schemes suggest that performance differences alone do not explain the concentration.

Meanwhile, 13 schemes with less than three years of return history collectively managed Rs 14,575 crore, or around 8 per cent of the category’s total AUM.

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