This document is a dissertation submitted by Megha Sunny in partial fulfillment of the requirements for a Bachelor of Business Administration degree from the University of Calicut. The dissertation analyzes gold exchange traded funds (ETFs) in India, with the goal of evaluating their risk and return over a four year period from 2009-2013. Various tables and analyses are included to compare the performance and characteristics of different gold ETFs based on measures such as daily returns, volatility, normality of returns, and correlation with gold prices. The dissertation also reviews relevant literature and theories of risk and return and provides conclusions and suggestions based on the findings of the study.