5 Gold Mutual Funds with the Strongest Returns in 2025 (Our Top Picks!)

2025 has truly become a golden year for gold. Gold prices have continuously risen due to various factors, including global economic uncertainty, persistently high inflation, and a volatile US dollar. Meanwhile, the weakening Thai Baht has further boosted the popularity of gold investments, especially in the form of mutual funds, among Thai investors.

For those still undecided on how to invest in gold, whether through "gold savings" or "gold mutual funds," we recommend reading the full comparison article here: Gold Savings vs. Gold Mutual Funds: Which is Better for Long-Term Wealth Creation? which will help you better understand the pros, cons, and objectives of each investment method.

Gold mutual funds are a more convenient option than holding physical gold bars, as there's no need to worry about storage, open a gold trading account, and you can start investing with just a few hundred Baht. Moreover, professional fund managers oversee the investment portfolio on behalf of investors.

In this article, we have selected the 5 best-performing gold mutual funds in 2025, based on actual data, along with a summary of key information, pros, cons, fees, and risk levels, to help you make investment decisions with confidence and precision.

Why is Gold So Popular in 2025?

Gold is considered a safe-haven asset that gains popularity whenever the global economy experiences volatility. 2025 has been a year where gold prices continuously set new records, supported by the following key factors:

• Global inflation remains high, weakening currencies and driving up gold prices.
• Policy interest rates in many countries have not decreased as expected, making riskier assets like stocks or bonds less attractive.
• International tensions, particularly trade conflicts between the US and China, or uncertainties from the situation in the Middle East.
• The weakening Thai Baht against the US dollar further boosts returns for gold funds investing internationally.

5 Best-Performing Gold Mutual Funds in 2025

1. LH Gold Fund – Highest Returns of the Year

This fund invests in SPDR Gold Trust, the world's largest physical gold ETF. It operates as a Feeder Fund, aiming to track gold prices as closely as possible. It is suitable for investors who want direct exposure to gold without focusing on currency hedging.

• Return YTD: 25.3%
• 1-Year Return: 32.8%
• Unit Class: Accumulation (LHGOLD-A), Dividend Payout (LHGOLD-D), Online (LHGOLD-E)
• Fees: No front-end fee for LHGOLD-E
• Minimum Investment: Starting 500 Baht, subsequent 100 Baht
• Risk Level: 8 (Highest)
• Pros: Very low minimum investment, suitable for beginners, convenient online purchase.
• Cons: No currency exchange rate hedging.

2. Principal iGOLD – Global Standard

This fund is managed by a global asset management company and also invests in SPDR Gold Trust. It does not hedge against currency risk, so investors must bear the volatility of the Thai Baht.

• Return YTD: 24.4%
• 1-Year Return: 34.1%
• Unit Class: iGOLD-C, iGOLD-E (No front-end fee)
• Management Fee: Approximately 0.3% per year (Total fees ~1.87%)
• Minimum Investment: 1,000 Baht
• Risk Level: 8
• Pros: Large fund with over 26,500 million Baht under management, managed by an international professional team.
• Cons: No currency hedging, exposed to exchange rate risk.

3. MFC iGOLD – Long-Standing Experience

This fund has been operating since 2009, making it one of the oldest gold funds in Thailand. It invests in SPDR Gold Trust via the Hong Kong market, offering high flexibility and agility.

• Return YTD: 24.3%
• 1-Year Return: 32.4%
• Fees: No front-end/back-end fees. Total management fees ~0.8–1% per year.
• Minimum Investment: 1,000 Baht
• Risk Level: 8
• Pros: No front-end/back-end fees. Fund managers can hedge currency risk based on market conditions.
• Cons: Not fully hedged against currency risk, and fees might be higher than some other funds.

4. SCB GOLDH – The Choice for Those Who Don't Want Currency Risk

A gold fund from SCBAM with a 100% currency hedging policy, meaning returns will reflect only the gold price, unaffected by Thai Baht volatility. Suitable for investors seeking certainty.

• Return YTD: 24.2%
• 1-Year Return: 34.7%
• Fees: No front-end/back-end fees when purchased via SCB Easy
• Minimum Investment: 1 Baht
• Risk Level: 8
• Pros: Starts from just 1 Baht, easy to buy/sell via SCB Easy, no fees.
• Cons: Returns might be lower than unhedged funds in the long term.

5. KF-HGOLD – Krungsri's Choice

A gold fund from Krungsri Asset Management that hedges currency risk almost 100%. It primarily invests in SPDR Gold Trust, with the advantage of convenient purchase via the KMA app for Krungsri customers.

• Return YTD: 23.8%
• 1-Year Return: 33.5%
• Fees: No back-end fee, and front-end fees are often waived.
• Minimum Investment: 500 Baht
• Risk Level: 8
• Pros: Suitable for Krungsri Bank customers, convenient purchase via app.
• Cons: Purchase channels might not be as diverse as some other funds.

Comparison Table of Prominent Gold Funds in 2025

How to Choose the Right Gold Fund for You

• If you don't want to speculate on the Thai Baht exchange rate, choose a currency-hedged fund like SCB GOLDH or KF-HGOLD.
   
• If you can accept volatility and seek potentially higher returns, choose an unhedged fund like LH Gold or Principal iGOLD.
   
• If you have a limited budget, SCB GOLDH starts from just 1 Baht, while LH Gold starts from 500 Baht.
   
• If you prefer large and stable funds, Principal iGOLD and SCB GOLDH are interesting options.

Things to Know Before Investing

• All recommended funds have a risk level of 8 (highest).
• Suitable for those with 'cold money' (disposable income) and who can hold for medium to long term (6 months or more).
• Investment should not exceed 5–10% of your total portfolio for diversification.
• Factors affecting gold prices include global interest rates, the US dollar exchange rate, inflation, and global crises.

Conclusion

Gold remains an attractive asset for investment in 2025, but choosing a fund that suits your own needs is still crucial. Currency-hedged funds are suitable for those seeking stability, while unhedged funds are for those who can accept risk and desire higher returns.

Gold investment should only be a part of your portfolio, not exceeding 10% of your total investments, and you should thoroughly study fund information before making an investment decision.

If you want to learn more about advanced gold investment options, such as direct investment in gold through the stock exchange, we recommend reading this article: Understanding Gold ETFs: A New Investment Option for Gold

Investing involves risks. Investors should study the information before making investment decisions and invest wisely, not just hoping for a golden fortune.

Source

SET Investnow: 10 High-Return Gold Mutual Funds in 2025
https://www.setinvestnow.com/th/knowledge/article/676-tsi-top-10-gold-mutual-funds-2025-high-returns
 

LH Fund: LH Gold Open-End Fund (LHGOLD)
https://www.lhfund.co.th/th/funds/long-term-funds/open-end-fund/lhgold
 

Principal TH: PRINCIPAL iGOLD Fund
https://www.principal.th/th/mutual-fund/principal-igold-e
 

MFC: MFC International Gold Fund (IGOLD-G)
https://www.mfcfund.com/fund/main/igold-g/
 

SCBAM: SCB GOLDH / SCBGOLDHE Fund
https://www.scbam.com/myfund/fundprofile/SCBGOLDH
 

Krungsri Asset: KF-HGOLD Fund
https://www.krungsriasset.com/th/mutual-fund/fund-profile/kf-hgold