SILJ vs. SPY

Last updated Jun 3, 2026

SILJ (Amplify Junior Silver Miners ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - SILJ is a Silver fund tracking the Nasdaq Junior Silver Miners Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SILJ returned 10.67%/yr vs 15.57%/yr for SPY. At a 0.22 correlation, their price movements are largely independent. SILJ charges 0.69%/yr vs 0.09%/yr for SPY.

Performance

SILJ vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Junior Silver Miners ETF (SILJ) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SILJ achieves a 12.50% return, which is significantly higher than SPY's 11.69% return. Over the past 10 years, SILJ has underperformed SPY with an annualized return of 10.67%, while SPY has yielded a comparatively higher 15.57% annualized return.

SILJ

• 1D: 2.07%
• 1M: 5.74%
• YTD: 12.50%
• 6M: 21.80%
• 1Y: 126.38%
• 3Y*: 50.45%
• 5Y*: 14.89%
• 10Y*: 10.67%

SPY

• 1D: 0.14%
• 1M: 5.40%
• YTD: 11.69%
• 6M: 12.09%
• 1Y: 29.62%
• 3Y*: 22.64%
• 5Y*: 14.20%
• 10Y*: 15.57%

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

SILJ vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SILJ Amplify Junior Silver Miners ETF	12.50%	183.89%	6.39%	-5.21%	-15.42%	-23.21%	33.00%	57.06%	-27.95%	-5.65%
SPY State Street SPDR S&P 500 ETF	11.69%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between SILJ and SPY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012	0.22

The correlation between SILJ and SPY shifts across timeframes, from 0.22 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.

SILJ vs. SPY - Sectors Allocation Comparison

Sectors	SILJ	SPY
Basic Materials	99.8%	1.8%
Financial Services	0.3%	11.8%
Consumer Defensive	0.2%	4.8%
Communication Services	0.0%	11.3%
Consumer Cyclical	-	10.3%
Energy	-	3.6%
Healthcare	-	8.4%
Industrials	-	7.8%
Real Estate	-	1.9%
Technology	-	35.9%
Utilities	-	2.4%

Return for Risk

SILJ vs. SPY — Risk / Return Rank

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

SILJ

SILJ Risk / Return Rank: 63
SILJ Sharpe Ratio Rank: 70
SILJ Sortino Ratio Rank: 52
SILJ Omega Ratio Rank: 57
SILJ Calmar Ratio Rank: 79
SILJ Martin Ratio Rank: 58

SPY

SPY Risk / Return Rank: 75
SPY Sharpe Ratio Rank: 77
SPY Sortino Ratio Rank: 75
SPY Omega Ratio Rank: 76
SPY Calmar Ratio Rank: 68
SPY Martin Ratio Rank: 80

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.

SILJ vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Junior Silver Miners ETF (SILJ) and State Street SPDR S&P 500 ETF (SPY). 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.

	SILJ	SPY	Difference
Sharpe ratio Return per unit of total volatility	2.33	2.52	-0.19
Sortino ratio Return per unit of downside risk	2.54	3.42	-0.87
Omega ratio Gain probability vs. loss probability	1.35	1.46	-0.11
Calmar ratio Return relative to maximum drawdown	4.11	3.42	+0.70
Martin ratio Return relative to average drawdown	10.23	15.93	-5.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SILJ vs. SPY - Sharpe Ratio Comparison

The current SILJ Sharpe Ratio is 2.33, which is comparable to the SPY Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of SILJ and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SILJ	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	2.52	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.84	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.87	-0.64
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.59	-0.49

Drawdowns

SILJ vs. SPY - Drawdown Comparison

The maximum SILJ drawdown since its inception was -79.04%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SILJ and SPY.

Drawdown Indicators

	SILJ	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-79.04%	-55.19%	-23.85%
Max Drawdown (1Y) Largest decline over 1 year	-34.71%	-8.88%	-25.83%
Max Drawdown (3Y) Largest decline over 3 years	-34.71%	-18.76%	-15.95%
Max Drawdown (5Y) Largest decline over 5 years	-55.47%	-24.50%	-30.97%
Max Drawdown (10Y) Largest decline over 10 years	-70.06%	-33.72%	-36.34%
Current Drawdown Current decline from peak	-22.75%	0.00%	-22.75%
Average Drawdown Average peak-to-trough decline	-41.44%	-9.05%	-32.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.96%	1.91%	+12.05%

Volatility

SILJ vs. SPY - Volatility Comparison

Amplify Junior Silver Miners ETF (SILJ) has a higher volatility of 17.98% compared to State Street SPDR S&P 500 ETF (SPY) at 2.75%. This indicates that SILJ's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SILJ	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.98%	2.75%	+15.23%
Volatility (6M) Calculated over the trailing 6-month period	44.90%	8.89%	+36.01%
Volatility (1Y) Calculated over the trailing 1-year period	55.05%	11.81%	+43.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.34%	17.05%	+27.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.22%	17.94%	+28.28%

SILJ vs. SPY - Expense Ratio Comparison

SILJ has a 0.69% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

SILJ vs. SPY - Dividend Comparison

SILJ's dividend yield for the trailing twelve months is around 1.78%, more than SPY's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SILJ Amplify Junior Silver Miners ETF	1.78%	2.00%	7.26%	0.01%	0.05%	0.36%	1.23%	1.45%	1.66%	0.00%	0.52%	2.46%
SPY State Street SPDR S&P 500 ETF	0.97%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both SILJ and SPY in my portfolio?

SILJ and SPY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SILJ or SPY?

SILJ has higher volatility (17.98%) compared to SPY (2.75%). In terms of maximum drawdown, SILJ dropped -79.04% vs SPY's -55.19%.

Which ETF is better, SILJ or SPY?

On 10-year performance, SPY leads with 15.57% vs 10.67% for SILJ. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SILJ or SPY?

Over the 10-year period, SPY has performed better with a 15.57% return vs 10.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SILJ or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.69% for SILJ.

Which ETF pays a higher dividend yield, SILJ or SPY?

SILJ has the higher dividend yield at 1.78%, compared with 0.97% for SPY.

What is the main difference between SILJ and SPY?

SILJ is categorized as Silver, while SPY is S&P 500. SILJ tracks Nasdaq Junior Silver Miners Index, while SPY tracks S&P 500 Index. They also come from different issuers: Amplify and State Street. Their fees differ too: 0.69% for SILJ and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.52 vs 2.33), 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.