Gold , Nifty 50 (equity) or equity MF. The oldest gold ETF in india is Nippon Fund. The Nippon Gold Fund was Launched in first half of 2007. Since then, out of 82 Equity MFs - 76 Equity funds outperformed gold for SIP Investors . - 68 Equity MFs out performed gold for one time investment. Gold is the New Hype—But at What Cost? Many experts, who usually advise against chasing past returns, are now singing praises of Gold. But let’s break down their analysis: • Gold returns are shown as screen prices—but that’s not the price at which you can buy or sell. • Comparison is only with Nifty 50—the worst-performing index in recent times. • Why not Nifty 50 TRI or Nifty 500 TRI? When comparing active funds, they use TRI indices. But for Gold, it’s always just Nifty 50. • Why not compare Gold with FD, NPS, or Real Estate? The selective comparison tells a biased story. Is this intellectual dishonesty or lazy analysis? Either way, it’s a great disservice to investors. Beware of these modern ‘financial babas’—they have no agenda except to sound wise. Handling personal finance is far tougher than talking about it.