HDFC Gold Silver Passive FOF vs HDFC Multi-Asset Active FOF
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Gold Silver Passive FOF is a Fund of Funds fund and HDFC Multi-Asset Active FOF is a Fund of Funds fund. HDFC Gold Silver Passive FOF charges 0.21% a year and HDFC Multi-Asset Active FOF 0.14% (Direct plans). Their portfolios overlap 12.0%: they hold 1 of the same security.
Which is better, HDFC Gold Silver Passive FOF or HDFC Multi-Asset Active FOF? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Multi-Asset Active FOF costs less: 0.14% a year against 0.21% (Direct plans).
- HDFC Multi-Asset Active FOF fell less in its worst fall since 01-09-2026: −5.6% against −13.7%.
- HDFC Multi-Asset Active FOF is the larger fund: ₹5,956 Cr against ₹53 Cr.
- Their portfolios overlap 12.0%: 1 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | HDFC Gold Silver Passive FOF | HDFC Multi-Asset Active FOF |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Fund of Funds | Fund of Funds |
| AUM | ₹53 Cr (30-09-2026) | ₹5,956 Cr (30-09-2026) |
| NAV | ₹8.77 (Direct) | ₹20.06 (Direct) |
| Expense ratio (Direct) | 0.21% | 0.14% |
| Expense ratio (Regular) | 0.56% | 1.12% |
| Riskometer | Very High | High |
| Benchmark | 70% Domestic Price of physical Gold and 30% Domestic Price of physical Silver | 50% NIFTY 50 TRI + 40% NIFTY Composite Debt Index + 10% Gold derived as per regulatory norms |
| Launch date | 01-09-2026 | 05-05-2021 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Bhagyesh Kagalkar, Nandita Menezes | Ihab Dalwai, Bhagyesh Kagalkar, Anil Bamboli |
| Exit load | In respect of each purchase / switch-in of Units, an Exit Load of 1% is payable if Units are redeemed / switched-out within 15 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 15 days from the date of allotment. | In respect of each purchase / switch-in of Units, upto 15% of the units may be redeemed without any exit load from the date of allotment. Any redemption in excess of the above limit shall be subject to the following exit load: - Exit load of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment of units. - No Exit Load is payable if Units are redeemed / switched-out after 1 year from the date of allotment. |
HDFC Gold Silver Passive FOF vs HDFC Multi-Asset Active FOF: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| HDFC Gold Silver Passive FOF (Direct) | −9.38% | -- | -- | -- | -- | -- | -- |
| HDFC Multi-Asset Active FOF (Direct) | −0.71% | −3.33% | −0.06% | −0.03% | +12.43% | +11.98% | -- |
HDFC Gold Silver Passive FOF vs HDFC Multi-Asset Active FOF: Year-wise Returns
| Year | Gold Silver PassiveHDFC Gold Silver Passive FOF | Multi-Asset ActiveHDFC Multi-Asset Active FOF |
|---|---|---|
| 2026to date | -- | −1.51% |
| 2025 | -- | +14.91% |
| 2024 | -- | +15.21% |
| 2023 | -- | +22.45% |
| 2022 | -- | +10.37% |
HDFC Gold Silver Passive FOF vs HDFC Multi-Asset Active FOF: Rolling Returns
Every holding period of both funds
HDFC Gold Silver Passive FOF vs HDFC Multi-Asset Active FOF: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Gold Silver Passive FOF (Direct) | HDFC Multi-Asset Active FOF (Direct) |
|---|---|---|
| Return (CAGR) | −55.36% | +13.46% |
| Standard deviation | 17.75% | 7.26% |
| Sharpe ratio | -3.42 | 1.09 |
| Sortino ratio | -3.91 | 1.51 |
| Maximum drawdown | −13.7% (30-10-2026) | −8.8% (23-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 01-09-2026 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
HDFC Gold Silver Passive FOF (Direct)
HDFC Multi-Asset Active FOF (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Gold Silver Passive FOF (Direct) | −13.7% | 04-09-2026 | 30-10-2026 | Not yet | -- | −13.7% |
| HDFC Multi-Asset Active FOF (Direct) | −5.6% | 01-09-2026 | 23-10-2026 | Not yet | -- | −4.3% |
From daily values since 01-09-2026, the first day every fund has.
HDFC Gold Silver Passive FOF vs HDFC Multi-Asset Active FOF: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Gold Silver Passive FOF, September 2026; HDFC Multi-Asset Active FOF, September 2026
Holdings in common
- Overlap
- 12.0%
- Held by both
- 1
- Only in HDFC Gold Silver Passive FOF
- 1
- Only in HDFC Multi-Asset Active FOF
- 17
| Security | % of HDFC Gold Silver Passive FOF | % of HDFC Multi-Asset Active FOF |
|---|---|---|
| HDFC Gold Exchange Traded Fund | 64.39% | 11.96% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 12.0% means 12.0% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in HDFC Gold Silver Passive FOF
| Security | % of fund |
|---|---|
| HDFC Silver ETF | 33.62% |
Largest holdings only in HDFC Multi-Asset Active FOF
| Security | % of fund |
|---|---|
| HDFC Large Cap Fund - Direct Plan - Growth Option | 19.20% |
| HDFC Flexi Cap Fund - Direct Plan- Growth Option | 17.52% |
| HDFC Short Term Fund - Growth Option - Direct Plan | 9.05% |
| HDFC Corporate Bond Fund - Growth Option - Direct Plan | 7.88% |
| HDFC Small Cap Fund - Direct Plan- Growth Option | 6.01% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Gold Silver Passive FOF | HDFC Multi-Asset Active FOF |
|---|---|---|
| Equity | 0.0% | 0.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 100.0% | 100.0% |
HDFC Gold Silver Passive FOF vs HDFC Multi-Asset Active FOF: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Gold Silver Passive FOF | HDFC Multi-Asset Active FOF |
|---|---|---|
| Total expense ratio (Direct) | 0.21% | 0.14% |
| Base expense ratio (Direct) | 0.18% | 0.12% |
| Total expense ratio (Regular) | 0.56% | 1.12% |
| Base expense ratio (Regular) | 0.48% | 0.95% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
HDFC Gold Silver Passive FOF vs HDFC Multi-Asset Active FOF: Frequently Asked Questions
What is the difference between HDFC Gold Silver Passive FOF and HDFC Multi-Asset Active FOF?
HDFC Gold Silver Passive FOF is a Fund of Funds fund, HDFC Multi-Asset Active FOF is a Fund of Funds fund, run by HDFC Mutual Fund. Their portfolios overlap 12.0%. HDFC Gold Silver Passive FOF charges 0.21% a year and HDFC Multi-Asset Active FOF 0.14%.
Which has the lower expense ratio, HDFC Gold Silver Passive FOF or HDFC Multi-Asset Active FOF?
HDFC Multi-Asset Active FOF charges less: 0.14% a year against 0.21%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Gold Silver Passive FOF and HDFC Multi-Asset Active FOF overlap?
12.0%. They hold 1 of the same securities, the largest shared ones being HDFCGOLD. From each fund's latest monthly portfolio.
Which is riskier, HDFC Gold Silver Passive FOF or HDFC Multi-Asset Active FOF?
On SEBI's riskometer, HDFC Gold Silver Passive FOF is rated Very High and HDFC Multi-Asset Active FOF High. Over their common history, the standard deviation of daily returns was 17.75% and 7.26% a year.
Can I invest in both HDFC Gold Silver Passive FOF and HDFC Multi-Asset Active FOF?
Yes. 12.0% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Gold Silver Passive FOF and HDFC Multi-Asset Active FOF?
HDFC Gold Silver Passive FOF: Bhagyesh Kagalkar, Nandita Menezes. HDFC Multi-Asset Active FOF: Ihab Dalwai, Bhagyesh Kagalkar, Anil Bamboli.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.