What is the fee difference between SIL and SLV?

SIL charges 0.65% a year and SLV charges 0.5%. On a $10,000 position that is about $65 a year for SIL and $50 for SLV, a gap of $15. Both cost more than broad market index funds, which is typical for commodity trusts and narrow industry ETFs.

What does each fund actually hold?

SIL holds shares in 43 silver mining and royalty companies, tracking the Solactive Global Silver Miners index. Its largest positions are Wheaton Precious Metals at 24.01%, Pan American Silver at 11.27% and Coeur Mining at 10.87%. SLV holds physical silver bullion stored in vaults and aims to track the LBMA Silver Price, less its expenses.

Do SIL and SLV overlap?

No. SIL owns company shares and SLV owns silver bars, so there are no common holdings. What links them is the silver price: miners' profits rise and fall with it, so SIL tends to move in the same direction as SLV, often by a larger amount because company costs are largely fixed.

Which pays a dividend?

Only SIL, with a dividend yield of 1.09% from the miners and royalty companies it holds. SLV pays nothing because silver bars generate no income. In fact, SLV's expense ratio is covered by selling small amounts of silver over time, so the metal backing each share slowly declines.

Which fund suits which goal?

SLV suits an investor who wants the price of silver in a brokerage account without buying and storing physical metal. SIL suits an investor who wants leveraged exposure to silver through company earnings, is willing to accept mining risks and single-company concentration, and values a small dividend.

Which is bigger and more liquid?

SLV is much larger, with $32.81 billion in net assets against $4.97 billion for SIL, and it has traded since April 2006 versus April 2010 for SIL. Both are actively traded on US exchanges, but SLV's size makes it one of the most widely used silver vehicles for retail and institutional investors.

How are SIL and SLV taxed?

SIL is a stock ETF, so its dividends and capital gains are taxed like other US-listed equity funds, with possible US withholding on dividends for non-US investors. SLV holds a physical commodity, and some countries tax gains on precious metal trusts differently from stock funds. Check your local rules before investing.

Can I hold both SIL and SLV?

Yes. Some investors hold SLV for direct metal exposure and add SIL for the extra upside and dividend that miners can provide. The two react to the same driver, so holding both increases your overall bet on silver rather than diversifying away from it. Position sizing matters more than the split.

How is SLV's silver stored?

SLV holds physical silver bars in secure vaults on behalf of the trust, and each share represents a fractional interest in that metal. Investors do not take delivery of silver; they buy and sell shares on the exchange. The trust's expense ratio of 0.5% is paid by selling small amounts of the metal each year.

SIL vs SLV

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

SIL and SLV both give exposure to silver in different ways. SIL tracks the Solactive Global Silver Miners index, holding 43 mining and royalty stocks led by Wheaton Precious Metals at 24.01%, for 0.65% a year with a 1.09% yield. SLV is an iShares trust that holds physical silver, tracks the LBMA Silver Price, pays no dividends and costs 0.5%. Educational content, not financial advice.

SIL and SLV both give exposure to silver in different ways. SIL tracks the Solactive Global Silver Miners index, holding 43 mining and royalty stocks led by Wheaton Precious Metals at 24.01%, for 0.65...

Fund Snapshot

Key Fund Metrics

SIL

Metric

SLV

0.65%

Expense Ratio

0.50%

1.09%

Dividend Yield

–

$4.97B

Net Assets

$32.81B

43

Holdings

–

Apr 19, 2010

Inception Date

Apr 21, 2006

Solactive Global Silver Miners

Index Tracked

LBMA Silver Price

Equity Precious Metals

Fund Category

Commodities Focused

SLV costs about $15.00 less per year for every $10,000 invested.

Shared Top Holdings

These funds do not share any of their top holdings.

Discover More Comparisons

SIL vs SLVP

Compare SIL and SLVP silver miners ETFs. Review expense ratios, top holdings, dividend yields, and tracking differences between Global X and iShares funds.

SIL vs SILJ

SIL vs SILJ compared: large silver miners at 0.65% or junior miners at 0.69% a year. See fees, holdings overlap, dividend yields and fund size side by side.

ICOP vs SLV

Compare ICOP and SLV on fees, holdings and dividends. ICOP tracks copper miners at 0.47%, while SLV focuses on silver commodities at 0.50% expense.

Investment Analysis

SIL

Pros

Pays a dividend yield of 1.09%, which a bullion trust like SLV cannot offer.
Holds 43 miners and royalty companies including Wheaton, Pan American and Coeur.
Mining shares can move more than the silver price, in both directions.

Considerations

Expense ratio of 0.65% is higher than SLV's 0.5%.
Wheaton Precious Metals alone is 24.01% and the top three are about 46% of the fund.
Company-specific risks such as mine costs and production problems affect returns.

SLV

Pros

Tracks the LBMA Silver Price directly by holding physical silver in vaults.
Lower cost at 0.5%, or $50 a year per $10,000 invested.
Very large trust with $32.81 billion in net assets, trading since 2006.

Considerations

Pays no dividends, so the only return comes from the silver price.
The 0.5% annual fee is paid by gradually selling silver, which reduces metal per share over time.
No exposure to company growth, new mines or royalty income.

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About SIL and SLV

SIL (SIL)

SLV (SLV)

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