SBI Silver ETF vs Zerodha CASE Silver ETF
SBI Silver ETF and Zerodha CASE Silver ETF are both Silver Index Funds & ETFs. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR — vs —, 5-year CAGR — vs —, volatility 49.12% vs 57.00%, maximum drawdown −53.15% vs −53.72%. Their portfolios overlap by 0% (0 stocks held by both).
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
| SBI Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Fund house | SBI Mutual Fund | Zerodha CASE Mutual Fund |
| Compared as | Silver Index Funds & ETFs | Silver Index Funds & ETFs |
| NAV | ₹179.5227 | ₹18.4827 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 8 Jul 2024 | 26 Mar 2025 |
| Track record | 2.3 yrs | 1.6 yrs |
| Fund size (AUM) | ₹5,817 Cr | ₹1,139 Cr |
| Securities held | 1 | 1 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| SBI Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| 1 month | −16.21% | −16.53% |
| 3 months | −20.40% | −20.80% |
| 6 months | −27.62% | −28.16% |
| 1 year | +23.73% | +23.05% |
| 3 years (CAGR) | — | — |
| 5 years (CAGR) | — | — |
| 7 years (CAGR) | — | — |
| 10 years (CAGR) | — | — |
| Since launch (CAGR) | +33.52% | +44.76% |
| 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
| SBI Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| 2026 (year to date) | −19.63% | −20.23% |
| 2025 | +160.50% | — |
Risk
| SBI Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Volatility (annualised) ⓘ | 49.12% | 57.00% |
| Downside volatility ⓘ | 23.61% | 26.69% |
| Sharpe ratio ⓘ | 0.55 | 0.67 |
| Sortino ratio ⓘ | 1.14 | 1.43 |
| Maximum drawdown ⓘ | −53.15% | −53.72% |
| Recovery from that fall | — | — |
| Current fall from peak | −51.10% | −51.69% |
| Rolling 1-year return: worst | +15.77% | +17.14% |
| Rolling 1-year return: median | +94.79% | +104.24% |
| Rolling 1-year return: best | +307.53% | +191.41% |
| Share of 1-year periods with a loss | 0.00% | 0.00% |
Against each fund's benchmark
| SBI Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Beta ⓘ | 0.22 | 0.36 |
| Alpha (Jensen's, annualised) ⓘ | +40.75% | +49.29% |
| R² ⓘ | 0.44 | 0.82 |
| Upside capture | 31.53% | 24.56% |
| Downside capture | -200.64% | -283.69% |
| Tracking error | 51.22% | 58.76% |
| Information ratio | 0.85 | 0.81 |
| Treynor ratio | 151.08 | 113.76 |
Portfolio
Asset mix
| SBI Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Foreign Securities | 97.90% | 96.95% |
| Cash & equivalents | 2.10% | 3.05% |
Market-cap split (share of fund assets)
| SBI Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Large Cap | 0.00% | 0.00% |
| Mid Cap | 0.00% | 0.00% |
| Small Cap | 0.00% | 0.00% |
| Unclassified | 0.00% | 0.00% |
Concentration
| SBI Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Top 10 holdings | 97.90% | 96.95% |
| Effective number of stocks ⓘ | 1 | 1.1 |
| Securities held | 1 | 1 |
Portfolio overlap: 0%
0 companies are held by both funds; by weight, 0% of the two portfolios is the same. That is a low overlap: the two portfolios are largely different.
Top 10 holdings
SBI Silver ETF
- Silver97.90%
Zerodha CASE Silver ETF
- Silver96.95%
Sector exposure
| SBI Silver ETF | Zerodha CASE Silver ETF | |
|---|---|---|
| Silver | 97.90% | 0.00% |
| N.A. | 0.00% | 96.95% |
Questions people ask
What is the difference between SBI Silver ETF and Zerodha CASE Silver ETF returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +23.73% vs +23.05%; 3-year CAGR — vs —; 5-year CAGR — vs —; 10-year CAGR — vs —. Past returns do not indicate future returns.
How do SBI Silver ETF and Zerodha CASE Silver ETF compare on risk?
Volatility (36 monthly returns, annualised) 49.12% vs 57.00%; Sharpe ratio 0.55 vs 0.67; Sortino ratio 1.14 vs 1.43; maximum drawdown −53.15% vs −53.72%; beta 0.22 vs 0.36.
How much do SBI Silver ETF and Zerodha CASE Silver ETF overlap?
By weight, 0% of the two portfolios is invested in the same companies; 0 stocks are held by both. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of SBI Silver ETF and Zerodha CASE Silver ETF?
SBI Silver ETF: large cap 0.0%, mid cap 0.0%, small cap 0.0%. Zerodha CASE Silver ETF: large cap 0.0%, mid cap 0.0%, small cap 0.0% (share of the fund's assets, from its latest disclosed portfolio).
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
SBI 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 6 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.