The answer in plain English
Expense ratio describes recurring scheme costs; tracking difference describes a return gap; tracking error concerns the variability of periodic gaps. The market spread is a separate trading cost. AUM can provide implementation context but cannot guarantee that a large trade will execute near a displayed reference value.
What to check
- Record the official product identity and benchmark before comparing figures.
- Use the same return period and sign convention for tracking difference.
- Read current dated expenses rather than an old “lowest fee” article.
- Inspect executable quotes and quantities, not simply the last traded price or daily volume.
A useful comparison
| Metric | Useful question | Limitation |
|---|---|---|
| Expense ratio | What recurring cost is disclosed? | Does not include every trading cost |
| Tracking difference | How large was the realised return gap? | Historical and period-dependent |
| Tracking error | How variable were periodic gaps? | A low value can coexist with a steady shortfall |
| Bid–offer spread | What gap separates quoted buyers and sellers? | Can change with time and trade size |
| AUM | How large is the scheme at that date? | Not a guarantee of liquidity or performance |
Make the distinction clear
Example: a hypothetical 0.05-percentage-point fee saving is not automatically worth a much worse one-time execution price for a small holding period. Compare costs in rupees over the intended amount and period, without assuming future spreads or tracking. Do not compare gold-mining equity with a physical-gold ETF as if the exposures were identical.
Gold-ETF names to identify and compare
Alphabetical examples from AMFI’s official file, checked on 17 October 2026. This is not a return or fee ranking. ISIN and valuation date help distinguish products; read current scheme documents and exchange quotes before a transaction.
| Gold ETF | ISIN in source | NAV record date |
|---|---|---|
| 360 ONE Gold ETF | INF579M01BB5 | 16-Oct-2026 |
| Aditya Birla Sun Life Gold ETF | INF209KB18D3 | 16-Oct-2026 |
| ANGEL ONE GOLD ETF | INF1J2R01114 | 16-Oct-2026 |
| Axis Gold ETF | INF846K01W80 | 16-Oct-2026 |
| Bandhan Gold ETF | INF194KB1KJ7 | 16-Oct-2026 |
One final question before acting
Does the figure or document match the exact scheme, plan, option, period and purpose in your question? Keep the source date with the answer. For a real transaction or personal decision, the current scheme documents and your own records take priority over a saved educational example.