3 Metal and Copper Mutual Fund to Watch in 2026

#2 ICICI Pru Commodities Fund

The ICICI Prudential Commodities Fund is an open-ended equity scheme that primarily invests in companies engaged in commodity and commodity-related sectors.

As of 30 April 2026, the fund's Monthly Average Assets Under Management (AAUM) stood at Rs 36.68 bn, with a closing AUM of Rs 37.89 bn.

The fund exhibits an average dividend yield of 1.26. In terms of risk and return metrics, the fund has an annualised standard deviation (volatility) of 16.83%, a Sharpe Ratio of 0.86, and a Beta of 0.89. Its portfolio turnover ratio is relatively low at 0.25 times for equity.

How Does the Fund Invest?

Fund's portfolio is diversified across large, mid, and small-cap companies, suggesting a flexible approach to market capitalisation within its chosen theme.

Sector Allocation

The fund's equity holdings are concentrated in major industrial and commodity players.

The top five stock holdings are:

Top Stock Holdings

The total equity shares account for 97.73% of the Net Asset Value (NAV), with an additional 7.92% allocated to foreign equities - Freeport-McMoRan Inc and Southern Copper Corp, etc.

How has the Fund been Performed Over Time?

The fund is benchmarked against the Nifty Commodities TRI.

Below is the growth of a hypothetical investment of Rs 10,000 over various periods:

Rs 10,000 Investment Growth Comparison

Over one year, the scheme delivered 22.53%, slightly outperforming the benchmark's 21.47%.

A Rs10,000 investment five years ago would have grown to Rs23,556, showcasing consistent long-term performance and strong wealth creation since inception with superior benchmark outperformance.

#3 SBI Comma Fund

The SBI Comma Fund (previously known as SBI Magnum COMMA Fund) is an open-ended equity scheme designed to generate growth and consistent returns by investing predominantly in a portfolio of stocks from companies engaged in commodity and commodity-related sectors.

As of 31 March 2026, the fund manages Assets Under Management (AUM) of Rs 9.38 bn, with an average AUM (AAUM) for the month of Rs 9.60 bn.

The fund's risk profile is measured through several quantitative data points: it has a Standard Deviation of 15.78%, a Beta of 0.85, and a Sharpe Ratio of 0.73.

How Does the Fund Invest?

The fund follows a thematic investment approach, focusing specifically on the commodities cycle.

Its portfolio is positioned across different market capitalisations, with a primary focus on Large Cap stocks (46.51%), followed by an allocation to Mid Cap (24.17%), and Small Cap (23.38%) companies.

Sector Allocation

The portfolio is led by major players in the steel and energy sectors. The Equity Turnover ratio is 0.13, while the Total Portfolio Turnover ratio is 0.14.

Top Stock Holdings

How has the Fund been Performed Over Time?

Over one year, the scheme delivered 21.88%, slightly outperforming the benchmark's 21.47%.

Rs 10,000 Investment Growth Comparison

And Over three years, it generated 21.50%, marginally below the benchmark return of 22.05%. Over five years, the scheme returned 14.54%, underperforming the benchmark's 18.28%.

A Rs 10,000 investment five years ago would have grown to Rs 19,720, compared to Rs 23,157 in the benchmark, reflecting relatively weaker long-term performance.

Which is the Best Metal and Commodity Mutual Fund for 2026?

Commodity and metal-focused mutual funds can offer significant return potential during favourable commodity upcycles, infrastructure expansion, and industrial growth phases.

Among the funds discussed, each offers unique strengths based on portfolio composition, sector focus, and historical performance.

However, these funds also carry higher volatility due to their concentrated exposure to cyclical industries like metals, mining, and energy.

Therefore, investors should carefully evaluate their risk appetite, investment horizon, and overall portfolio strategy.

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