Silver exchange-traded funds (ETFs) have seen a significant decline of up to 15% in the last two months, primarily driven by a crackdown on silver speculation by Chinese regulators and a broader risk-off sentiment in the markets. Market experts, including Rahul Khetawat (Fund Manager at 360 ONE Asset) and Hrishikesh Palve (Director at Anand Rathi Wealth Limited), recommend that investors reassess their portfolios, potentially reducing silver exposure to zero and reallocating funds into diversified equity funds or gold ETFs. The recent downturn has seen all 17 silver ETFs posting negative returns, with the UTI Silver ETF losing the most at 14.79%. As the new financial year begins, experts suggest that new investors should focus on a mix of large-cap and flexi-cap mutual funds while considering gold for hedging against global uncertainties. Furthermore, starting April 1, a new rule will require mutual funds to value gold and silver ETFs based on domestic spot prices rather than international benchmarks, which should better reflect local market conditions. This change aims to enhance the relevance of ETF pricing for Indian investors, potentially reducing tracking differences and aligning returns with actual market prices.