HDFC Gold Silver Passive FOF vs HDFC Multi Asset Allocation Fund
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 Allocation Fund is a Multi Asset fund. HDFC Gold Silver Passive FOF charges 0.21% a year and HDFC Multi Asset Allocation Fund 1.01% (Direct plans). Their portfolios overlap 13.5%: they hold 2 of the same securities.
HDFC Multi Asset Allocation Fund
Multi Asset
- Expense ratio
- 1.01%
- NAV
- ₹81.63
Which is better, HDFC Gold Silver Passive FOF or HDFC Multi Asset Allocation? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- HDFC Gold Silver Passive FOF costs less: 0.21% a year against 1.01% (Direct plans).
- HDFC Multi Asset Allocation fell less in its worst fall since 01-09-2026: −5.3% against −13.7%.
- HDFC Multi Asset Allocation is the larger fund: ₹5,782 Cr against ₹53 Cr.
- Their portfolios overlap 13.5%: 2 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 Allocation Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | HDFC Mutual Fund |
| Category | Fund of Funds | Multi Asset |
| AUM | ₹53 Cr (30-09-2026) | ₹5,782 Cr (30-09-2026) |
| NAV | ₹8.77 (Direct) | ₹81.63 (Direct) |
| Expense ratio (Direct) | 0.21% | 1.01% |
| Expense ratio (Regular) | 0.56% | 2.02% |
| Riskometer | Very High | Very High |
| Benchmark | 70% Domestic Price of physical Gold and 30% Domestic Price of physical Silver | 65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index + 10% Domestic Price of Gold + 2.5% Domestic Price of Silver |
| Launch date | 01-09-2026 | 17-08-2005 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Bhagyesh Kagalkar, Nandita Menezes | Ihab Dalwai, Anil Bamboli, Bhagyesh Kagalkar, Nandita Menezes, – Mr. Arun Agarwal, Gopal Agrawal |
| 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. | Exit Load for units in excess of 15% of the investment,1% will be charged for redemption within 12 months. |
HDFC Gold Silver Passive FOF vs HDFC Multi Asset Allocation: 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 Allocation Fund (Direct) | −0.73% | −3.58% | −1.86% | −2.29% | +11.12% | +10.21% | +10.99% |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | +14.20% | +12.56% | +12.92% |
Category average: the average of the 37 Multi Asset funds, same plan type.
HDFC Gold Silver Passive FOF vs HDFC Multi Asset Allocation: Year-wise Returns
| Year | Gold Silver Passive FOFHDFC Gold Silver Passive FOF | Multi Asset AllocationHDFC Multi Asset Allocation |
|---|---|---|
| 2026to date | -- | −3.74% |
| 2025 | -- | +14.45% |
| 2024 | -- | +14.82% |
| 2023 | -- | +19.43% |
| 2022 | -- | +5.77% |
| 2021 | -- | +19.65% |
HDFC Gold Silver Passive FOF vs HDFC Multi Asset Allocation: Rolling Returns
Every holding period of both funds
HDFC Gold Silver Passive FOF vs HDFC Multi Asset Allocation: 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 Allocation Fund (Direct) |
|---|---|---|
| Return (CAGR) | −55.36% | +11.06% |
| Standard deviation | 17.75% | 7.94% |
| Sharpe ratio | -3.42 | 0.63 |
| Sortino ratio | -3.91 | 0.85 |
| Maximum drawdown | −13.7% (30-10-2026) | −27.1% (23-03-2020) |
| 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 Allocation Fund (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 Allocation Fund (Direct) | −5.3% | 01-09-2026 | 23-10-2026 | Not yet | -- | −4.4% |
From daily values since 01-09-2026, the first day every fund has.
HDFC Gold Silver Passive FOF vs HDFC Multi Asset Allocation: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Gold Silver Passive FOF, September 2026; HDFC Multi Asset Allocation Fund, September 2026
Holdings in common
- Overlap
- 13.5%
- Held by both
- 2
- Only in HDFC Gold Silver Passive FOF
- 0
- Only in HDFC Multi Asset Allocation
- 111
| Security | % of HDFC Gold Silver Passive FOF | % of HDFC Multi Asset Allocation |
|---|---|---|
| HDFC Gold Exchange Traded Fund | 64.39% | 11.71% |
| HDFC Silver ETF | 33.62% | 1.81% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 13.5% means 13.5% 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
Every holding of this fund is also held by the other.
Largest holdings only in HDFC Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| HDFC Bank Ltd. | 6.86% |
| Reliance Industries Ltd. | 4.86% |
| ICICI Bank Ltd. | 4.74% |
| Bharti Airtel Ltd. | 2.89% |
| Kotak Mahindra Bank Limited | 2.60% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Gold Silver Passive FOF | HDFC Multi Asset Allocation |
|---|---|---|
| Equity | 0.0% | 69.1% |
| Debt | 0.0% | 11.2% |
| Cash and others | 100.0% | 19.7% |
Market cap of stocks
| Market cap | HDFC Gold Silver Passive FOF | HDFC Multi Asset Allocation |
|---|---|---|
| Large Cap | -- | 56.0% |
| Mid Cap | -- | 5.3% |
| Small Cap | -- | 7.8% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | HDFC Gold Silver Passive FOF | HDFC Multi Asset Allocation |
|---|---|---|
| Banks | 0.0% | 18.0% |
| Petroleum Products | 0.0% | 5.4% |
| Automobiles | 0.0% | 5.3% |
| Pharmaceuticals & Biotechnology | 0.0% | 4.6% |
| IT - Software | 0.0% | 4.1% |
| Telecom - Services | 0.0% | 3.5% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Gold Silver Passive FOF vs HDFC Multi Asset Allocation: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Gold Silver Passive FOF | HDFC Multi Asset Allocation Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.21% | 1.01% |
| Base expense ratio (Direct) | 0.18% | 0.73% |
| Total expense ratio (Regular) | 0.56% | 2.02% |
| Base expense ratio (Regular) | 0.48% | 1.58% |
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.
More comparisons
Each fund against the others of its category
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HDFC Gold Silver Passive FOF vs HDFC Multi Asset Allocation Fund: Frequently Asked Questions
What is the difference between HDFC Gold Silver Passive FOF and HDFC Multi Asset Allocation Fund?
HDFC Gold Silver Passive FOF is a Fund of Funds fund, HDFC Multi Asset Allocation Fund is a Multi Asset fund, run by HDFC Mutual Fund. Their portfolios overlap 13.5%. HDFC Gold Silver Passive FOF charges 0.21% a year and HDFC Multi Asset Allocation Fund 1.01%.
Which has the lower expense ratio, HDFC Gold Silver Passive FOF or HDFC Multi Asset Allocation Fund?
HDFC Gold Silver Passive FOF charges less: 0.21% a year against 1.01%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Gold Silver Passive FOF and HDFC Multi Asset Allocation Fund overlap?
13.5%. They hold 2 of the same securities, the largest shared ones being HDFCGOLD, HDFCSILVER. From each fund's latest monthly portfolio.
Which is riskier, HDFC Gold Silver Passive FOF or HDFC Multi Asset Allocation Fund?
On SEBI's riskometer, HDFC Gold Silver Passive FOF is rated Very High and HDFC Multi Asset Allocation Fund Very High. Over their common history, the standard deviation of daily returns was 17.75% and 7.94% a year.
Can I invest in both HDFC Gold Silver Passive FOF and HDFC Multi Asset Allocation Fund?
Yes. 13.5% 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 Allocation Fund?
HDFC Gold Silver Passive FOF: Bhagyesh Kagalkar, Nandita Menezes. HDFC Multi Asset Allocation Fund: Ihab Dalwai, Anil Bamboli, Bhagyesh Kagalkar, Nandita Menezes, – Mr. Arun Agarwal, Gopal Agrawal.
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.