Fundalysisby DARKHORSESTOCKS

Scheme

IB38 Groww Silver ETF

Holds 1 companies worth ₹294 Cr in Sept 2026.

  • Fund house

    GROWWThe fund house that runs this scheme.

  • AUM

    ₹301 CrIB38 Groww Silver ETF's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 8.9% on Aug 2026, ₹331 Cr.

  • Largest holding

    Silver CommoditySilver Commodity is 97.7% of this scheme's NAV.

  • Fund manager

    Wilfred GonsalvesRuns it since 21 May 2025, as the fund house dates it. With Ameya Sakpal (co-manager).

Overview(21 Sept 2026)

Fund managers2

  1. Wilfred GonsalvesFund manager · May 2025 · 7y · CA B.Com
  2. Ameya SakpalCo-manager · Jun 2026 · 3y · MBA B.E.

    Key facts

    Benchmark
    Domestic Price of Physical Silver
    Risk
    Very High
    Expense
    Regular 0% · Direct 0.53%
    Exit load
    Nil
    Started
    21 May 2025
    Minimum
    1 Unit

    Source.Its Scheme Summary Document as of 21 Sept 2026 at AMFI.

    What changed(3 changes)

    Jun 2026

    1 change
    1. Ameya Sakpal joined
      30 Junas co-manager

    May 2026

    1 change
    1. Expense ratio
      9 MayDirect 0.43% → 0.53%

    Mar 2026

    1 change
    1. Expense ratio
      9 MarDirect 0.43% → Regular 0% · Direct 0.43%

    Source.Its filings at NSE, since Jun 2025.

    Fund managers over time(May 2025 – now)

    1. Wilfred Gonsalves
    2. Ameya Sakpal
    MainCoSlice2026
    Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

    Costs(Jun 2025 – Sept 2026)

    Every change to the expense ratio, newest first.
    3 changesRegularDirectΔ pt
    9 May 20260.00%0.53%0.10
    9 Mar 20260.00%0.43%0
    10 Jun 2025–0.43%–
    Direct plan, 9 May 2026
    0.53%
    Regular plan 0.00% · Exit load nil
    Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

    Objective and risk(21 Sept 2026)

    Objective

    The investment objective of the scheme is to generate returns corresponding to the Domestic Price of Physical Silver before expenses, subject to tracking errors, fees and expenses by investing in Physical Silver. There is no assurance or guarantee that the investment objective of the scheme would be achieved..

    Risk, type and benchmark

    Riskometer
    Very High
    At launch
    Very High
    Type
    ETF
    Benchmark
    Domestic Price of Physical Silver

    Asset allocation it may hold% of NAV

    1. Silver (Includes Physical Silver and other Silver related instruments as permitted by SEBI from time to time)
      Allowed95–100%Holds97.7%
    2. Debt^ & Money Market Instruments^^ including units of Mutual Funds
      Allowed0–5%

    Holds in Sept 2026.2.3% debt and cash · 97.7% gold and silver

    How to invest(21 Sept 2026)

    Buying

    To start
    1 Unit, then re.1
    Most
    ₹99,99,99,999

    Selling and switching

    To redeem
    1 Unit units

    Scheme details(21 Sept 2026)

    What it is

    Category
    Other Schemes > Equity Exchange Traded Fund (ETF)
    Offer
    2 May 2025 to 16 May 2025
    Started
    21 May 2025
    Reopened
    23 May 2025
    Face value
    ₹1
    Listed
    NSE

    How it is run

    Custodian
    SBI-SG GLOBAL SECURITIES SERVICES PRIVATE LIMITED
    Auditor
    S.R. Batliboi & Co. LLP
    Registrar
    KFin Technologies Limited
    SEBI code
    GROW/O/O/OET/25/04/0030