Comparing iShares Silver Trust and Global X – Silver Miner ETF
The iShares Silver Trust (SLV +0.60%) and the Global X – Silver Miner ETF (SIL +0.72%) both target the silver market, but they go about it in distinctive ways. SLV tracks the market price of silver directly, while SIL invests in a selection of silver mining companies.
This overview looks at how these differences might influence factors such as cost, performance, risk, and the way you might want to allocate your investments.
Cost and Size Snapshots
| Metric | SLV | SIL |
|---|---|---|
| Publisher | iShares | Global X |
| Expense ratio | 0.50% | 0.65% |
| 1-Year Return (as of April 25, 2026) | 125.1% | 135.1% |
| Beta | 0.53 | 0.86 |
| Assets Under Management (AUM) | $35.7 billion | $5.1 billion |
| Dividend Yield | Not applicable | 1.11% |
Beta indicates the volatility relative to the S&P 500, calculated over five years of monthly returns. One year’s return reflects total returns over the next 12 months.
For investors mindful of costs, SLV offers a slightly lower expense ratio compared to SIL. Additionally, since SLV doesn’t provide dividends, SIL may appeal more to those seeking income as their investments grow.
Performance and Risk Comparison
| Metric | SLV | SIL |
|---|---|---|
| Maximum Drawdown (5 Years) | -42.45% | -56.79% |
| $1,000 Growth in 5 Years | $2,850 | $2,297 |
What’s Inside
SIL invests solely in silver mining stocks, holding 38 companies primarily consisting of industry heavyweights such as Wheaton Precious Metals, Pan American Silver, and Coal Mining. Together, these three make up over 43% of the ETF. This portfolio is fundamentally focused on materials and offers indirect exposure to silver prices, albeit with added corporate and operational risks.
In contrast, SLV contains physical silver, avoiding any mining stocks, which allows its returns to align closely with the spot price of silver. Its larger asset base helps mitigate risks related to individual companies, but it also means SLV might miss out on the upside— or downside— seen in mining operations.
Implications for Investors
SIL and SLV represent different strategies in the silver investment landscape, catering to varying investor preferences.
Investors frequently turn to precious metals as a way to shield against stock market volatility. In this context, SLV’s direct connection to physical silver could be a preferable option. It completely avoids stocks, which might reduce overall risk— as indicated by its low beta and modest maximum drawdown.
However, a potential drawback of ETFs like SLV is the likelihood of lower return prospects compared to those that include mining stocks. SIL, while still offering indirect exposure to silver, focuses on mining companies, which might enable greater returns when the silver market experiences a surge.
Ultimately, your choice should align with your investment goals and risk appetite. Those seeking the stability that precious metals offer, particularly with less volatility, might lean toward SLV. Conversely, if you’re interested in a blend of precious metals and stock investment, opting for SIL’s focus on mining entities might yield higher returns while still engaging with the silver market.
