SIL vs. SLVR

Last updated Jun 24, 2026

SIL (Global X Silver Miners ETF) and SLVR (Sprott Silver Miners & Physical Silver ETF) are both Silver funds - SIL tracks the Solactive Global Silver Miners Total Return Index while SLVR tracks the Nasdaq Sprott Silver Miners™ Index. Both are passively managed. Over the past year, SIL returned 65.33% vs 74.96% for SLVR. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.65% expense ratio.

Performance

SIL vs. SLVR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Silver Miners ETF (SIL) and Sprott Silver Miners & Physical Silver ETF (SLVR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIL achieves a -5.97% return, which is significantly higher than SLVR's -10.65% return.

SIL

• 1D: -5.47%
• 1M: -10.87%
• YTD: -5.97%
• 6M: -10.24%
• 1Y: 65.33%
• 3Y*: 47.37%
• 5Y*: 13.84%
• 10Y*: 8.64%

SLVR

• 1D: -6.24%
• 1M: -15.79%
• YTD: -10.65%
• 6M: -13.23%
• 1Y: 74.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SIL vs. SLVR - Yearly Performance Comparison

	2026 (YTD)	2025
SIL Global X Silver Miners ETF	-5.97%	157.49%
SLVR Sprott Silver Miners & Physical Silver ETF	-10.65%	171.53%

Correlation

The correlation between SIL and SLVR is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.95

The correlation between SIL and SLVR has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

SIL vs. SLVR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SIL

SIL Risk / Return Rank: 35
SIL Sharpe Ratio Rank: 36
SIL Sortino Ratio Rank: 33
SIL Omega Ratio Rank: 35
SIL Calmar Ratio Rank: 37
SIL Martin Ratio Rank: 32

SLVR

SLVR Risk / Return Rank: 34
SLVR Sharpe Ratio Rank: 35
SLVR Sortino Ratio Rank: 33
SLVR Omega Ratio Rank: 35
SLVR Calmar Ratio Rank: 38
SLVR Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SIL vs. SLVR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Silver Miners ETF (SIL) and Sprott Silver Miners & Physical Silver ETF (SLVR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SIL	SLVR	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.17	+0.07
Sortino ratio: Return per unit of downside risk	1.69	1.68	+0.01
Omega ratio: Gain probability vs. loss probability	1.23	1.22	+0.01
Calmar ratio: Return relative to maximum drawdown	1.77	1.81	-0.04
Martin ratio: Return relative to average drawdown	4.50	4.32	+0.18

SIL vs. SLVR - Sharpe Ratio Comparison

The current SIL Sharpe Ratio is 1.25, which is comparable to the SLVR Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of SIL and SLVR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SIL vs. SLVR - Drawdown Comparison

The maximum SIL drawdown since its inception was -82.99%, which is greater than SLVR's maximum drawdown of -41.59%. Use the drawdown chart below to compare losses from any high point for SIL and SLVR.

Drawdown Indicators

	SIL	SLVR	Difference
Max Drawdown Largest peak-to-trough decline	-82.99%	-41.59%	-41.40%
Max Drawdown (1Y) Largest decline over 1 year	-37.08%	-41.59%	+4.51%
Max Drawdown (3Y) Largest decline over 3 years	-37.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-63.04%	—	—
Current Drawdown Current decline from peak	-33.47%	-40.19%	+6.72%
Average Drawdown Average peak-to-trough decline	-51.37%	-10.16%	-41.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.58%	17.43%	-2.85%

Volatility

SIL vs. SLVR - Volatility Comparison

The current volatility for Global X Silver Miners ETF (SIL) is 19.47%, while Sprott Silver Miners & Physical Silver ETF (SLVR) has a volatility of 21.36%. This indicates that SIL experiences smaller price fluctuations and is considered to be less risky than SLVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIL	SLVR	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.47%	21.36%	-1.89%
Volatility (6M) Calculated over the trailing 6-month period	44.45%	53.78%	-9.33%
Volatility (1Y) Calculated over the trailing 1-year period	52.59%	64.17%	-11.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.84%	58.98%	-19.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.90%	58.98%	-19.08%

SIL vs. SLVR - Expense Ratio Comparison

Both SIL and SLVR have an expense ratio of 0.65%.

Dividends

SIL vs. SLVR - Dividend Comparison

SIL's dividend yield for the trailing twelve months is around 1.26%, less than SLVR's 4.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIL Global X Silver Miners ETF	1.26%	1.18%	2.40%	0.59%	0.48%	1.59%	1.92%	1.53%	1.21%	0.02%	3.34%	0.38%
SLVR Sprott Silver Miners & Physical Silver ETF	4.12%	3.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIL and SLVR in my portfolio?

With a correlation of 0.96, SIL and SLVR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SIL or SLVR?

SLVR has higher volatility (21.36%) compared to SIL (19.47%). In terms of maximum drawdown, SIL dropped -82.99% vs SLVR's -41.59%.

Which ETF is better, SIL or SLVR?

On 1-year performance, SLVR leads with 74.96% vs 65.33% for SIL. Both ETFs have the same 0.65% expense ratio. On volatility, SIL has been the lower-risk option at 19.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIL or SLVR?

Over the 1-year period, SLVR has performed better with a 74.96% return vs 65.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIL or SLVR?

SIL and SLVR have the same expense ratio: 0.65% per year.

Which ETF pays a higher dividend yield, SIL or SLVR?

SLVR has the higher dividend yield at 4.12%, compared with 1.26% for SIL.

What is the main difference between SIL and SLVR?

SIL tracks Solactive Global Silver Miners Total Return Index, while SLVR tracks Nasdaq Sprott Silver Miners™ Index. They also come from different issuers: Global X and Sprott.

Which has better risk-adjusted returns?

SIL currently has the higher Sharpe Ratio (1.25 vs 1.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.