Gold Exchange Traded Funds (ETFs) track gold prices. Gold prices have dropped sharply in the last few weeks, resulting in a severe erosion in the value of ETFs. All of the ETFs are down anywhere between 10-15 per cent in the last 1 year. Take a look at how some of the returns have been.
HDFC Gold Exchange Traded Fund
HDFC Gold Exchange Traded Fund has given a returns of -14 per cent in the last one year. This is largely in line with the fall in international prices of gold. HDFC Gold Exchange Traded Fund is an open ended scheme that generates returns that are in line with the performance of gold, subject to tracking errors.
Birla Sun Life Gold ETF
Birla Sun Life Gold ETF has generated negative returns of almost 13 per cent in the last one year. Like HDFC Gold Exchange, Birla Sun Life Gold ETF also tracks gold and returns are largely linked to gold prices.
ICICI Prudential Gold Exchange Traded Fund
ICICI Prudential Gold Exchange Traded Fund, is perhaps the worst in terms of returns, with negative returns in excess of 15%, year to date. An open-ended exchange traded fund, it aims to provide investment returns that, before expenses, closely track the performance of domestic prices of Gold derived from the LBMA AM fixing prices.
IDBI Gold ETF
IDBI Gold Exchange Traded Fund is an open ended gold exchange traded scheme which tracks the price of gold in the domestic market. The returns from the scheme year to date is negative 14 per cent.
Axis Gold Exchange Traded Fund
Axis Gold ETF like all of its other peers is down 14 per cent in the last one year. Again, Axis Tracks gold prices, which have fallen sharply in the last few weeks.