ICICI Silver ETF Share Price 2026: NAV, Performance And Investment Guide
Note: Data as of June 09, 2026. NAV, share price, and AUM are subject to market fluctuations. Please verify from official fund sources before investing
Silver has always been considered a valuable asset, offering both industrial utility and investment potential.
Moreover, buying and storing physical silver comes with challenges such as purity concerns, storage costs, and security risks. This is where silver Exchange Traded Funds (ETFs) come into the picture.
The ICICI Silver ETF is an exchange-traded fund that aims to track the domestic price of physical silver. It allows investors to gain exposure to silver without owning the metal directly.
How Silver ETFs Function?
A silver ETF invests primarily in physical silver of high purity. Each unit of the ETF represents a proportionate ownership in the silver held by the fund. Investors can buy and sell ETF units on stock exchanges just like shares.1
Fund Structure
The ICICI Silver ETF is structured as an open-ended commodity ETF. The fund manager purchases physical silver and stores it securely through approved custodians.
The value of ETF units moves in line with the market price of silver.
What Is The Link Between ETF Units And Silver Prices?
The Net Asset Value (NAV) of the ETF is directly linked to the value of the silver held by the fund. When silver prices rise, the ETF's NAV and market price generally increase. Similarly, a decline in silver prices can affect returns negatively.
Lets understand this with an example, if silver prices increase by 15% over a year, the ETF's value is also likely to rise by a similar percentage, subject to tracking error and fund expenses.
ICICI Silver ETF Share Price Explained
The ICICI Silver ETF share price represents the market price at which ETF units trade on the stock exchange. This price may slightly differ from the NAV due to demand and supply factors.2
Understanding ICICI Silver ETF NAV
The ICICI Silver ETF NAV reflects the per-unit value of the silver held by the fund after deducting expenses.
Formula:
NAV = (Total Value of Silver Holdings – Expenses) ÷ Total Outstanding Units
Investors should regularly compare the market price with the NAV to understand whether the ETF is trading at a premium or discount.
Historical ICICI Silver ETF Performance
| Year | Approximate Performance |
| 2022 | Moderate Growth |
| 2023 | Positive Returns |
| 2024 | Strong Commodity Rally |
| 2025 | Volatility with Upward Bias |
| 2026 | Dependent on Global Silver Demand |
Returns are indicative and should be verified from official fund disclosures before investing.
Silver prices have historically been influenced by:
- Industrial demand
- Inflation expectations
- Global economic conditions
- Currency fluctuations
- Precious metals market trends
ICICI Silver ETF Analysis
Before investing, it is important to understand both the strengths and limitations of the ETF and these are-
Strengths of ICICI Silver ETF
1. Easy Access to Silver Investing-Investors can buy silver through their Demat account without visiting a jeweler or bullion dealer.
2. High Purity Assurance-The fund invests in high-purity silver stored through regulated custodians.
3. Better Liquidity-ETF units can be bought and sold during market hours.
4. Cost Efficiency-There are no storage lockers, insurance costs, or making charges.
5. Portfolio Diversification-Silver often behaves differently from equities and fixed-income investments, helping diversify risk.
Weaknesses Of ICICI Silver ETF
1. Market Volatility-Silver prices can fluctuate significantly due to global economic events.
2. Tracking Error-ETF returns may differ slightly from actual silver prices due to fund expenses and operational costs.
3. No Physical Possession-Investors seeking actual silver ownership may find ETFs less appealing.
4. Commodity-Specific Risk-Performance depends entirely on silver price movements.
ICICI Silver ETF vs Other Investments
| Investment | 1Y Return | 3Y Return | Risk Level | Best For |
| ICICI Silver ETF | +156.74% | +58% | Very High | Best tracking (0.57%), lowest expense (0.40%) |
| Nippon Silver ETF | +149.12% | +55% | Very High | Higher liquidity (?44,491 Cr AUM) |
| HDFC Silver ETF | +146.86% | +51.42% | Very High | Silver exposure, inflation hedge |
| Gold ETF | +77.14% | +45% | High | Safer precious metal, lower volatility |
| Nifty 50 Index | +18-22% | +15% | Medium | Long-term wealth, equity growth |
| Sensex | +20-24% | +16-18% | Medium | Long-term wealth, equity growth (blue-chip companies) |
| Fixed Deposit | +6.5-7.5% | +7% | Low | Stable returns, no risk |
| Bond (Grip) | +8-12.5% (As per coupon rate) | As per coupon rate | Low-Medium | Regular income, capital protection |
Source: GROWW3
Example:
Suppose Rahul wants to invest INR 1 lakh in silver.
Option 1: Physical Silver
- Storage concerns
- Purity verification required
- Possible resale deductions
Option 2: ICICI Silver ETF
- Instant purchase through Demat
- No storage costs
- Easy exit through stock exchange
For convenience-focused investors, ETFs often provide a smoother investment experience.
Pros and Cons of ICICI Silver ETF
| Pros | Cons |
| Convenient exposure to silver | Subject to silver price volatility |
| Transparent pricing | Requires Demat and trading account |
| High liquidity | Tracking error may impact returns |
| Low storage risk | Expense ratio reduces overall returns slightly |
| Easy diversification | No physical delivery benefits |
Should You Invest In ICICI Silver ETF?
The answer depends on your investment goals and risk appetite-
You may consider investing if:
- You want exposure to precious metals.
- You believe silver demand will increase.
- You are looking to diversify beyond stocks and bonds.
- You prefer digital ownership over physical storage.4
You may avoid it if:
- You need stable and predictable returns.
- You are uncomfortable with commodity market volatility.
- You specifically want physical silver possession.
Silver Price Context: Where Are We In 2026?
- Since 2023: Silver went from ~INR 78,600/kg (2023) to >INR 2.5 lakh/kg
(2026)
- 2024 performance: Silver gained ~57.6%
- 2025 performance: Silver rose ~156% in India, outperforming gold’s ~80% gain
- Dec 2025 peak (MCX futures): INR 2,32,741/kg on Dec 26, 2025
- Current silver price ( as of Jun 9, 2026): INR 259.90/gram ? INR 2,59,900/kg
Silver Price Outlook For 2026
Several factors could influence silver prices in 2026:
- Growing demand from solar panel manufacturing
- Expansion of electric vehicle production
- Industrial consumption growth
- Global inflation trends
- Central bank monetary policies.5
As industrial demand continues to rise, many analysts remain optimistic about silver's long-term potential. However, investors should remember that commodity prices can be highly cyclical.
For a balanced portfolio, silver exposure should typically form only a portion of overall investments rather than the entire portfolio.
Conclusion
The ICICI Silver ETF provides investors with a convenient way to gain exposure to silver prices without the storage concerns and complexities associated with physical silver. With features such as transparency, easy trading, and purity assurance, silver ETFs can be considered as a part of a diversified investment portfolio.
However, like any market linked investment, the performance of the ICICI Silver ETF depends on silver price movements and broader market factors. Investors should evaluate their financial goals, risk appetite, and investment horizon before adding silver ETFs to their portfolio.
At Grip Invest, we believe diversification plays an important role in long term wealth planning. Exploring different asset classes, including alternatives like bonds, can help investors build a balanced portfolio aligned with their financial objectives.
FAQs On ICICI Silver ETF
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Author: Grip Invest Editorial Team The Grip Invest Editorial Team is a group of Chartered Accountants, MBA (Finance) graduates, and Qualified Research Analysts dedicated to helping you invest smarter. We dive deep into India's fixed income landscape to deliver content that is accurate, up-to-date, and easy to understand. Whether you're exploring bonds, fixed deposits, or other fixed income opportunities, our guides cut through the noise and give you the clarity to make better financial decisions. |
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