What do silver miners ETFs do?

Silver miners ETFs provide exposure to companies that explore, mine or process silver. Rather than buying physical silver, an investor buys shares in a fund that holds a basket of mining stocks. This approach links returns to both the metal price and the operational performance of the miners. SIL and SLVP each use this structure, but they track different lists of companies and may therefore respond differently to changes in mining costs, production volumes or sector sentiment.

What is an expense ratio?

An expense ratio is the annual fee charged by a fund to cover management and operating costs. It is deducted from the fund's assets, which can lower long-term returns compared with an otherwise identical, cheaper fund. For example, if the expense ratio is higher, the investor pays more each year. SIL and SLVP have different expense ratios, so the difference may affect performance over multiple years, although actual results also depend on holdings and market movements.

What does net assets mean?

Net assets, or assets under management, represent the total market value of all securities held by an ETF. A larger fund can sometimes indicate broader investor demand and may support tighter bid-ask spreads, although trading costs also depend on market conditions and liquidity. SIL is reported to have substantially larger net assets than SLVP. Beginners should view fund size as one piece of information alongside fees, holdings and trading activity when assessing how easily an ETF might be bought or sold.

How do the expense ratios compare?

SIL has an expense ratio of 0.65%, while SLVP has an expense ratio of 0.39%. This means SLVP charges 0.26 percentage points less annually based on the figures provided. A lower fee can be attractive for long-term holders because costs compound over time and can reduce the final value of an investment. However, fees are only one factor; differences in holdings, index composition and tracking behaviour can influence returns and risk.

Which fund tracks what?

Both SIL and SLVP are silver miners ETFs, but they do not necessarily track the same index or universe. SIL focuses on global silver mining companies, while SLVP is described as a broader global silver and metals miners ETF. This can lead to differences in the mix of primary silver producers, diversified metals miners and royalty or streaming companies. Understanding each fund's index methodology is important because it determines which stocks are included, excluded or reweighted over time.

How much overlap is there in top holdings?

Based on the provided top-10 holdings, SIL and SLVP share two companies: Coeur Mining (CDE) and Hecla Mining (HL). SIL's largest reported holding is Wheaton Precious Metals (WPM) at 24.01%, whereas SLVP's largest reported holding is Hecla Mining (HL) at 14.50%. Although both invest in silver miners, the overlap is limited among the listed top holdings, which can make each fund's performance and risk profile different depending on how the individual mining companies perform.

Why do dividend yields differ?

SIL's dividend yield is 1.09%, while SLVP's dividend yield is 1.85%. These differences generally reflect the dividends paid by the companies inside each fund and the weighting of those companies. Dividend yields can change over time if share prices move or if miners adjust payouts. ETFs may also choose to reinvest or distribute income, depending on the fund structure. Therefore, a higher yield does not automatically mean lower risk or better total returns.

What is concentration risk?

Concentration risk occurs when a large portion of a fund's assets is invested in a small number of companies. If those holdings experience a sharp decline, the whole fund can be affected more than a widely diversified one. The provided information highlights significant positions in SIL, including WPM, PAAS and CDE, while SLVP also has notable exposure to Hecla and other miners. Investors should examine both the fund's largest holdings and how evenly capital is spread across companies and regions.

Why do inception dates matter?

An ETF's inception date marks when the fund first began operations. SIL has an inception date of 19 April 2010, while SLVP began on 31 January 2012. A longer track record can help investors assess how the fund performed through different market cycles, although it does not guarantee future behaviour. For newer funds, there may be less historical data available. Beginners should combine inception dates with other factors, such as holdings stability, fees and trading liquidity, rather than relying on age alone.

How should beginners interpret these figures?

Beginners should view expense ratios, net assets, dividend yields and holdings as diagnostic data rather than direct buy signals. A lower fee, larger fund size or higher yield can each be attractive, but they may come with trade-offs in holdings composition, liquidity or tracking behaviour. It is useful to compare the same data points across both ETFs and to read the underlying index methodology carefully. Keeping a simple checklist of fees, holdings and risks helps make the comparison more structured.

Which goal fits each fund?

SIL may appeal to investors seeking a silver miners ETF with larger net assets, although its 0.65% expense ratio is higher. SLVP may appeal to those who prioritise a lower expense ratio of 0.39% and a higher dividend yield of 1.85%, but it has smaller net assets. Neither fund is presented as suitable for every investor. The right choice depends on an individual's objectives, risk tolerance and how closely they want to track specific parts of the silver mining market.

SIL vs SLVP

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

This page compares SIL and SLVP, two silver miners ETFs, examining their fees, holdings, and dividends. SIL focuses on global silver mining companies with an expense ratio of 0.65%. SLVP tracks a broader index including precious metals miners at a lower cost of 0.39%. We review key differences to help you understand how each fund tracks its market. Educational content, not financial advice.

This page compares SIL and SLVP, two silver miners ETFs, examining their fees, holdings, and dividends. SIL focuses on global silver mining companies with an expense ratio of 0.65%. SLVP tracks a broa...

Fund Snapshot

Key Fund Metrics

SIL

Metric

SLVP

0.65%

Expense Ratio

0.39%

1.09%

Dividend Yield

1.85%

$4.97B

Net Assets

$985.57M

43

Holdings

49

Apr 19, 2010

Inception Date

Jan 31, 2012

–

Index Tracked

–

Equity Precious Metals

Fund Category

Equity Precious Metals

SLVP costs about $26.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	SIL	SLVP
CDECoeur Mining, Inc.	10.87%	1.80%
HLHecla Mining Company	4.81%	14.50%

Discover More Comparisons

SIL vs SLV

SIL vs SLV: SIL holds 43 silver mining stocks for 0.65% a year and yields 1.09%. SLV holds physical silver for 0.5%, a $15 gap per $10,000. Compare both.

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.

GDX vs SLVP

Compare GDX and SLVP ETFs. Review fee structures, top holdings, dividend yields, tracking methods, and operational history for these precious metals funds.

Investment Analysis

SIL

Pros

SIL maintains substantial $5.0 billion net assets, enhancing institutional liquidity and bid-ask spread efficiency.
It holds a 24.01% position in Wheaton Precious Metals, offering a royalty-company structure with reduced mining operational risk.
The fund's 1.09% dividend yield provides a steady income stream from silver mining sector cash flows.

Considerations

The 0.65% annual expense ratio is relatively high compared to the lower-cost iShares silver miners ETF alternative.
Top holdings exhibit significant concentration, with WPM, PAAS, and CDE together representing over 46% of total fund assets.
Published fund data indicates the specific index benchmark tracked by the Global X silver miners ETF is not available.

SLVP

Pros

The 0.39% expense ratio represents a 26 basis points annual saving relative to the higher-fee Global X silver miners fund.
A 1.85% dividend yield delivers enhanced income potential from global silver and metals miners compared to sector peers.
The fund's 14.50% weight in Hecla Mining provides targeted exposure to a major primary silver producer.

Considerations

Net assets of $986 million are considerably smaller than the $5.0 billion fund, potentially reducing institutional trading liquidity.
Inception dates to January 2012, offering a shorter operational history for tracking error assessment than older ETFs.
Top holdings display substantial concentration, as Hecla, Newmont, and Coeur Mining account for over 20% of fund assets.

Related Market Insights

When Silver Went Viral: The Making of a Meme Commodity

Explore silver's rise as the first meme commodity. Discover how social media drives unprecedented trading volumes and investment opportunities. Trade silver & miners with Nemo.

Aimee Silverwood | Financial Analyst

3 February 2026

Read Insight

Riding the Silver Tsunami: Retail Investors Drive Record Commodity Rush

Retail investors inject £728 million into silver ETFs, driving prices to multi-year highs. Discover investment opportunities in silver mining and streaming firms with Nemo.

Aimee Silverwood | Financial Analyst

16 January 2026

Read Insight

Related Market Insights

When Silver Went Viral: The Making of a Meme Commodity

Explore silver's rise as the first meme commodity. Discover how social media drives unprecedented trading volumes and investment opportunities. Trade silver & miners with Nemo.

Aimee Silverwood | Financial Analyst

3 February 2026

Read Insight

Riding the Silver Tsunami: Retail Investors Drive Record Commodity Rush

Retail investors inject £728 million into silver ETFs, driving prices to multi-year highs. Discover investment opportunities in silver mining and streaming firms with Nemo.

Aimee Silverwood | Financial Analyst

16 January 2026

Read Insight

About SIL and SLVP

SIL (SIL)

SLVP (SLVP)

Which Baskets Do They Appear In?

Meme Commodity Trading: What's Next for Silver ETFs?

Silver prices have skyrocketed due to a retail investor frenzy, turning the precious metal into a "meme commodity." This theme identifies companies in the precious metals ecosystem, including miners and ETF providers, that stand to gain from the heightened trading activity and market volatility.

Published: 3 February 2026

Explore Basket

Silver ETF Influx Explained | Retail Investment Impact

A record-breaking influx of cash from retail investors has made silver the market's most crowded commodity trade, driving its price to historic highs. This creates a potential opportunity for silver mining companies and related industries that stand to benefit from the metal's soaring value and sustained demand.

Published: 16 January 2026

Explore Basket

Which Baskets Do They Appear In?

Meme Commodity Trading: What's Next for Silver ETFs?

Silver prices have skyrocketed due to a retail investor frenzy, turning the precious metal into a "meme commodity." This theme identifies companies in the precious metals ecosystem, including miners and ETF providers, that stand to gain from the heightened trading activity and market volatility.

Published: 3 February 2026

Explore Basket

Silver ETF Influx Explained | Retail Investment Impact

A record-breaking influx of cash from retail investors has made silver the market's most crowded commodity trade, driving its price to historic highs. This creates a potential opportunity for silver mining companies and related industries that stand to benefit from the metal's soaring value and sustained demand.

Published: 16 January 2026

Explore Basket

SIL vs SLVP

Fund Snapshot