The choice between iShares Silver Trust (SLV) and Global X Silver Miners ETF (SIL) hinges on whether investors prefer direct exposure to silver prices or the operational leverage of mining companies. SLV provides a direct link to spot silver prices with a lower expense ratio of 0.5% and significantly higher assets under management ($30.5 billion). In contrast, SIL invests in mining companies and offers a 1.2% dividend yield, though its expense ratio is slightly higher at 0.65%.
Performance-wise, SIL has outperformed SLV over the past three years with annualized returns of nearly 56% compared to 37% for SLV. However, SLV’s performance is closely tied to silver price fluctuations, while SIL’s returns are influenced by the business cycles and operational efficiency of mining companies. As of 2026-10-05, SIL was priced at $86.15 with a 22.9% one-year return, whereas SLV was priced at $55.13 with a 26.7% one-year return.
Both ETFs have seen volatility, with SIL experiencing a maximum drawdown of 47.9% over five years and SLV at 52.3%. The choice between the two depends on investment goals: SLV for direct commodity exposure and SIL for potential dividends and operational leverage. Recent trends show silver doubling since mid-2025, driven by industrial demand and renewable energy applications.
Investors considering SLV should note that it was not among the top 10 stock picks by The Motley Fool Stock Advisor analyst team, which has historically identified high-performing stocks. Meanwhile, SIL’s dividend yield and recent outperformance make it an attractive option for those betting on a continued silver rally.