A practical, data-anchored guide to gaining exposure to U.S. equities, critical-mineral miners and commodities — without filing a single foreign-remittance form.
Three big stories have re-shaped Indian retail flows over the last twelve months: the relentless run-up in U.S. mega-cap technology, a once-in-a-generation rally in gold and silver, and the strategic awakening around copper, lithium and rare-earths. All three sit outside the daily diet of a domestic-only portfolio — yet all three can be accessed in rupees, through Indian AMCs, with no LRS paperwork.
This report assembles the funds and ETFs that provide that access. Each is mapped against the data points an investor actually needs: latest NAV, trailing returns, expense burden, AUM, and — critically in 2026 — whether the fund is open to fresh subscriptions, since SEBI's $7 billion overseas-investment ceiling has frozen out several once-popular options.
The headline returns you will see below are unusually large. They reflect three tailwinds firing together: a 21% NASDAQ-100 gain in 2025, gold up roughly 60–70% in INR, and silver and gold-miners delivering outsized leverage. Treat them as the high-water mark, not the base case.
NASDAQ-100 trackers, S&P 500 vehicles, the FANG+ basket and one actively-managed bluechip fund. The cheapest passive option here costs you 0.16%; the priciest active one, 1.51%.
| Fund | Type | NAV (₹) | 1-Yr Return | 3-Yr CAGR | 5-Yr CAGR | Risk | Expense | AUM (₹ Cr) | Exit Load | Status / Index |
|---|---|---|---|---|---|---|---|---|---|---|
Motilal Oswal NASDAQ 100 ETF NSE: N100 · MOFN100 |
ETF | 251.56 | 56.88% | 34.02% | 19.96% | Very High | 0.59% | 10,971 | Nil | NASDAQ-100 TRI · trades on exchange1 |
Kotak NASDAQ 100 FoF — Direct Kotak US Specific Equity Passive FoF |
FoF | 26.38 | ~58% | 32.06% | 20.49% | Very High | 0.24% | 3,592 | Nil | iShares NASDAQ 100 UCITS · open2 |
Navi NASDAQ 100 FoF — Direct launched March 2022 |
FoF | Data NA | 27–29% | 34–36% | — | Very High | 0.16% | 1,061 | Nil | iShares NASDAQ 100 UCITS · open · cheapest in category |
Motilal Oswal NASDAQ 100 FoF — Direct launched Nov 2018 |
FoF | Data NA | 11–23% | 36–38% | 19–20% | Very High | 0.22% | 6,159 | 1% < 15 days | Closed to new SIP Suspended 5 Jan 2025 |
ICICI Prudential US Bluechip Equity — Direct active mgmt; benchmark S&P 500 TRI |
MF | 82.75 | 28.67% | 15.65% | 12.14% | Very High | 1.16% | 3,481 | 1% < 1 month | Reopened 27 Jan 2026 · ₹2 L/PAN/mo cap3 |
Motilal Oswal S&P 500 Index Fund — Direct launched April 2020 |
Index Fund | 31.54 | 45.63% | ~26–27%† | — | Very High | ~0.49% | 3,936 | 1% < 15 days | SIP suspended Jan 2025 S&P 500 TRI |
Mirae Asset NYSE FANG+ ETF NSE: MAFANG |
ETF | 150.91 | ~52% | ~54% | — | Very High | 0.66% | 3,185 | Nil | NYSE FANG+ TRI · 10 mega-cap tech names |
Mirae Asset NYSE FANG+ ETF FoF — Direct for non-demat investors |
FoF | 38.40 | 52.47% | 54.31% | — | Very High | 0.70% | 2,068 | Check AMC | Wraps FANG+ ETF · for SIP investors |
Edelweiss US Technology Equity FoF — Direct JPMorgan US Technology Fund feeder |
FoF | 37.05 | 51.06% | ~36% | — | Very High | 1.51% | 3,255 | 1% < 12 mo | Active US-tech bets · monthly SIP open |
1 ETF unit creation periodically constrained due to SEBI overseas limits — monitor NAV vs market price before trading. 2 Subject to available headroom under industry overseas cap; verify with AMC. 3 Cap also applies to ICICI's NASDAQ 100 Index Fund and Strategic Metal & Energy FoF. † 3-Yr cumulative reported as 104%; CAGR derived. NAV/return data sourced from Value Research, Tickertape, ET Money, AMC factsheets and INDmoney as of late April–early May 2026.
India does not yet have a pure-play "lithium & cobalt" ETF. The closest you get is a critical-minerals FoF, two world-mining feeder funds, and domestic metals/commodities equity. Read the underlying basket carefully.
| Fund | Type | NAV (₹) | 1-Yr Return | 3-Yr CAGR | 5-Yr CAGR | Risk | Expense | AUM (₹ Cr) | Exit Load | Underlying / Notes |
|---|---|---|---|---|---|---|---|---|---|---|
ICICI Pru Strategic Metal & Energy Equity FoF — Direct launched Feb 2022 · purest critical-minerals proxy in India |
FoF | 31.44 | 84.70% | 30.73% | — | Very High | 1.01% | 292 | 1% < 1 yr | First Trust Strategic Metal & Energy UCITS · oil + lithium + uranium + copper miners · ₹2 L/PAN/mo cap |
DSP World Mining FoF — Direct feeds BlackRock GF World Mining Fund |
FoF | 35.47 | ~93–103% | ~27% | ~13% | Very High | 1.65% | 171 | 1% < 12 mo | Global diversified miners — BHP, Rio Tinto, Glencore, Freeport, Newmont |
DSP World Gold Mining Overseas Equity Omni FoF — Direct feeds BlackRock GF World Gold Fund |
FoF | 66.61 | ~204% | ~65% | ~34% | Very High | 1.73% | 1,975 | 1% < 12 mo | Pure-play gold & precious-metal miners (Newmont, Barrick, Agnico) |
DSP Natural Resources & New Energy — Direct domestic mandate ≥ 80%; some overseas feeder exposure |
Equity MF | 125.25 | 34.57% | 25.42% | 19.86% | Very High | 0.81% | 2,044 | 1% < 12 mo | Indian + global natural-resource & new-energy stocks · open |
ICICI Prudential Commodities Fund — Direct domestic-only commodity equity |
Equity MF | 51.32 | ~24–31% | 21.23% | 21.41% | Very High | 0.97% | 3,342 | 1% < 3 mo | Nifty Commodities TRI · JSW Steel, Vedanta, Jindal Steel, UPL |
ICICI Prudential Nifty Metal ETF NSE: METALIETF · launched Aug 2024 |
ETF | 12.95 | 42.79% | — | — | Very High | 0.40% | 1,034 | 1% < 3 mo | Nifty Metal TRI · 78% large-cap, 44% steel weight |
Kotak Nifty Metal ETF / Nippon Nifty Metal ETF peer products tracking same index |
ETF | Data NA | ~40–45% | — | — | Very High | ~0.20–0.40% | Variable | Nil–1% | Nifty Metal TRI · choose by tracking error & liquidity |
India does not currently offer a fund that tracks an index purely composed of rare-earth-element miners (e.g. MVIS Global Rare Earth/Strategic Metals or Solactive Critical Minerals). For that exposure, investors must use either (a) ICICI's Strategic Metal & Energy FoF as the closest domestic substitute, or (b) the LRS route to buy U.S.-listed REMX, LIT, COPX, etc.
Gold and silver ETFs in India have ballooned in 2026 on the back of a roughly 60–70% INR price-rally. The expense-ratio gap between leaders is small; tracking error and liquidity matter more.
| Fund | Type | NAV / Price (₹) | 1-Yr Return | 3-Yr CAGR | 5-Yr CAGR | Risk | Expense | AUM (₹ Cr) | Exit Load | Underlying |
|---|---|---|---|---|---|---|---|---|---|---|
Nippon India ETF Gold BeES NSE: GOLDBEES · launched 2007 |
ETF | ~131 | ~67–81% | ~33% | 17–18% | Moderate–High | 0.79% | ~58,000 | Nil | Physical gold (99.5% purity) · highest liquidity |
ICICI Prudential Gold ETF NSE: GOLDIETF |
125.98 | ETF | ~63–74% | ~33% | ~21% | Moderate–High | 0.50% | ~24,470 | Nil | Physical gold · cheapest mainstream gold ETF |
SBI Gold ETF NSE: SETFGOLD |
ETF | ~81 | ~65–66% | ~32% | 17–18% | Moderate–High | ~0.65% | ~14,500 | Nil | Physical gold · trusted PSU brand |
Nippon India Silver ETF NSE: SILVERBEES · launched 2022 |
ETF | 230.19 | ~85–95% | — | — | Very High | 0.56% | ~30,675 | Nil | Physical silver · category leader by AUM |
ICICI Prudential Silver ETF NSE: SILVERIETF |
ETF | ~85 | ~85–90% | — | — | Very High | ~0.40% | ~10,000+ | Nil | Physical silver · low expense, growing AUM |
HDFC Silver ETF NSE: HDFCSILVER |
ETF | Data NA | ~85–90% | — | — | Very High | ~0.40% | Variable | Nil | Physical silver · backed by HDFC AMC |
Nippon India Silver ETF FoF — Direct for SIP/non-demat investors |
FoF | Data NA | ~85% | — | — | Very High | 0.23% | ~4,720 | 1% < 15 days | Wraps Nippon India Silver ETF |
ICICI Pru Strategic Metal & Energy FoF — Direct also covers oil-services exposure |
FoF | 31.44 | 84.70% | 30.73% | — | Very High | 1.01% | 292 | 1% < 1 yr | Closest available proxy for oil & energy commodities |
A pure crude-oil ETF is not available in India. The closest substitutes are (a) the ICICI Strategic Metal & Energy FoF, (b) Nifty Energy / Nifty Oil & Gas index ETFs (which hold Reliance, ONGC, IOC, BPCL — not crude itself), or (c) multi-asset funds that allocate to commodity-linked equity. Standalone copper, palladium, and platinum ETFs are also unavailable in the Indian rupee market.
U.S. exposure
The pragmatic winner. Open to fresh money, 0.24% expense, 5-year CAGR over 20%, and a UCITS-domiciled underlying that sidesteps U.S. estate-tax concerns for larger holdings. The default first NASDAQ vehicle for most Indian retail investors today.
The cost-killer. At 0.16% it is the cheapest NASDAQ wrapper in India, with comparable returns to Kotak's product. Smaller AUM and shorter track record are the only meaningful trade-offs against the lower fee.
For the investor who wants U.S. exposure that isn't a tech bet. Active management, low single-digit Mag-7 weight, S&P 500 benchmark. Now reopened with a ₹2 L/PAN/month cap. Higher fee (1.16%) is the cost of diversification.
Rare-earth & mining
The only Indian fund that gives meaningful exposure to lithium, uranium, copper and oil-service equity through a single rupee transaction. 84%+ trailing year reflects a perfect commodity setup. Reopened January 2026 with cap.
The most diversified, lowest-fee, openly available domestic option. Mixes Indian metals/energy stocks with overseas feeder allocation. Solid 5-year CAGR of nearly 20%, expense of 0.81%, and no subscription restrictions.
The pure global-mining play. Feeder into BlackRock's World Mining Fund — BHP, Rio Tinto, Glencore, Freeport. Outsized 1-year returns on the metals upcycle, but the longer-term record (5Y ~13%) shows how cyclical this is.
Commodities
Lowest expense (0.50%) among major gold ETFs, ~₹24,500 Cr AUM, tight tracking. The most cost-efficient way to hold physical-gold exposure in a demat account. Edges out Nippon Gold BeES purely on fees.
Category leader by both AUM (₹30,675 Cr) and liquidity. Silver is the higher-beta cousin of gold — its 1-year return reflects that, but so does its drawdown risk. Use it as a tactical tilt, not a foundation.
Still the most liquid gold ETF in India by trading volume — important if you ever need to exit large positions quickly. The 0.79% expense is higher than peers, but bid-ask economics often offset that for active traders.
The $7 bn industry-wide ceiling and $1 bn ETF sub-limit remain fully utilised. Several funds have suspended fresh inflows; others operate with PAN-level monthly caps. Verify subscription status before every fresh purchase.
Rupee depreciation has added 4–5% per year of tailwind to U.S./global funds. A reversal — or RBI intervention — would mute headline returns. Currency is a real driver of these numbers, not a footnote.
Gold and silver ETFs delivered 60–95% in INR over twelve months. They have also delivered double-digit drawdowns historically. Mining-equity FoFs amplify both directions through operating leverage.
NASDAQ-100 and especially FANG+ funds now have 45–80% of the basket in seven names. An "AI-spend disappoints" scenario or regulatory tightening on Mag-7 hits these baskets disproportionately.
For sales after July 2024 budget rules, holdings > 24 months attract 12.5% LTCG without indexation. Holdings < 24 months are taxed at slab rates. Domestic equity LTCG benefits don't apply.
Many international "FoFs" pay an underlying ETF expense plus a domestic management fee. Effective costs can reach 0.80% even where the headline ratio reads 0.22%. Compare effective, not headline.