PSLV vs SLV
Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.
PSLV, the Sprott Physical Silver Trust, holds silver bullion and charges 0.52% a year with $13.7 billion in assets. SLV, the iShares Silver Trust, tracks the LBMA Silver Price for 0.50% and holds $32.8 billion. Neither pays a dividend. PSLV suits investors who prefer a closed-end trust; SLV suits those who want the largest silver vehicle. Educational content, not financial advice.
PSLV, the Sprott Physical Silver Trust, holds silver bullion and charges 0.52% a year with $13.7 billion in assets. SLV, the iShares Silver Trust, tracks the LBMA Silver Price for 0.50% and holds $32....
Investment Analysis
PSLV
PSLV
Pros
- Holds physical silver bullion in a trust structure managed by Sprott since 2010
- Closed-end structure means the trust does not create or redeem shares daily like an ETF
- Sizeable at $13.7 billion in assets, so it trades actively on US exchanges
Considerations
- Expense ratio of 0.52% is slightly higher than the 0.50% charged by SLV
- As a closed-end trust, its market price can drift above or below the value of its silver
- Pays no dividend, so the only return comes from movement in the silver price
SLV
SLV
Pros
- Largest silver trust of the pair at $32.8 billion, trading since 2006
- Expense ratio of 0.50% is marginally lower than PSLV's 0.52%
- Tracks the LBMA Silver Price with shares created and redeemed to keep price near value
Considerations
- Pays no dividend, like every physical silver product
- Annual cost of about $50 per $10,000 is high compared with broad stock index ETFs
- Exposure is to one metal only, so there is no diversification inside the fund
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