HDFC Silver ETF vs Zerodha CASE Silver ETF
HDFC Silver ETF and Zerodha CASE Silver ETF are both Silver Index Funds & ETFs. As of 5 Nov 2026 (Direct plan, Growth option): 3-year CAGR +36.46% vs —, 5-year CAGR — vs —, volatility 45.55% vs 56.93%, maximum drawdown −53.39% vs −53.72%.
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| HDFC Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Fund house | HDFC Mutual Fund | Zerodha CASE Mutual Fund |
| Compared as | Silver Index Funds & ETFs | Silver Index Funds & ETFs |
| NAV | ₹178.1353 | ₹18.6462 |
| NAV date | 5 Nov 2026 | 4 Nov 2026 |
| Launched (first NAV) | 2 Sep 2022 | 26 Mar 2025 |
| Track record | 4.2 yrs | 1.6 yrs |
| Fund size (AUM) | — | ₹1,139 Cr |
| Securities held | — | 1 |
| Portfolio as of | Not disclosed yet | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HDFC Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| 1 month | −15.48% | −17.03% |
| 3 months | −16.81% | −17.35% |
| 6 months | −26.36% | −25.72% |
| 1 year | +26.95% | +25.74% |
| 3 years (CAGR) | +36.46% | — |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +34.36% | +45.74% |
| SIP return (XIRR, 5 years) ⓘ | — | — |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| HDFC Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| 2026 (year to date) | −18.56% | −19.53% |
| 2025 | +160.81% | — |
| 2024 | +17.99% | — |
| 2023 | +0.61% | — |
Risk
| HDFC Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Volatility (annualised) ⓘ | 45.55% | 56.93% |
| Downside volatility ⓘ | 22.50% | 26.62% |
| Sharpe ratio ⓘ | 0.66 | 0.69 |
| Sortino ratio ⓘ | 1.34 | 1.47 |
| Maximum drawdown ⓘ | −53.39% | −53.72% |
| Recovery from that fall | — | — |
| Current fall from peak | −50.48% | −51.27% |
| Rolling 1-year return: worst | −2.06% | +17.14% |
| Rolling 1-year return: median | +28.50% | +104.24% |
| Rolling 1-year return: best | +306.70% | +191.41% |
| Share of 1-year periods with a loss | 0.89% | 0.00% |
Against each fund's benchmark
| HDFC Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Beta ⓘ | 0.01 | 0.36 |
| Alpha (Jensen's, annualised) ⓘ | +32.99% | +49.29% |
| R² ⓘ | 0.00 | 0.82 |
| Upside capture | 44.59% | 24.56% |
| Downside capture | -193.55% | -283.69% |
| Tracking error | 47.98% | 58.76% |
| Information ratio | 0.55 | 0.81 |
| Treynor ratio | 4,677.97 | 113.76 |
Portfolio
HDFC Silver ETF has no usable portfolio disclosure on file yet, so portfolio comparisons are shown only where available.
Asset mix
| HDFC Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Foreign Securities | — | 96.95% |
| Cash & equivalents | — | 3.05% |
Market-cap split (share of fund assets)
| HDFC Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Large Cap | — | 0.00% |
| Mid Cap | — | 0.00% |
| Small Cap | — | 0.00% |
| Unclassified | — | 0.00% |
Concentration
| HDFC Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Top 10 holdings | — | 96.95% |
| Effective number of stocks ⓘ | — | 1.1 |
| Securities held | — | 1 |
Top 10 holdings
HDFC Silver ETF
Not disclosed yet.
Zerodha CASE Silver ETF
- Silver96.95%
Sector exposure
| HDFC Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| N.A. | — | 96.95% |
Questions people ask
What is the difference between HDFC Silver ETF and Zerodha CASE Silver ETF returns?
As of 5 Nov 2026, Direct plan Growth option: 1-year return +26.95% vs +25.74%; 3-year CAGR +36.46% vs —; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do HDFC Silver ETF and Zerodha CASE Silver ETF compare on risk?
Volatility (36 monthly returns, annualised) 45.55% vs 56.93%; Sharpe ratio 0.66 vs 0.69; Sortino ratio 1.34 vs 1.47; maximum drawdown −53.39% vs −53.72%; beta 0.01 vs 0.36.
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
More comparisons
HDFC Silver ETF vs
Zerodha CASE Silver ETF vs
All Silver Index Funds & ETFs comparisons → · Compare up to six funds yourself → · Every fund in this category → · All comparisons →
Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 5 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.