Overview
Fully allocated physical silver bullion — over 215 million ounces vaulted at the Royal Canadian Mint, redeemable in metal by large holders.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| AG | Physical silver bullion | 99.7% |
| -- | Cash & equivalents | 0.3% |
Fund Details
Investment Thesis
PSLV is the purist's silver vehicle: every unit is backed by numbered bars in Canadian government vaults, unit-holders of size can redeem for physical metal, and the trust structure gives US investors potentially favourable capital-gains treatment versus bullion ETFs. With silver in the $60s and the trust's assets at records, the +50% year made it one of 2026's best macro trades — with silver's trademark volatility attached.
Who It's For
Hard-asset conviction investors who want silver itself — not miners, not futures — with auditable, allocated backing. The vehicle of choice for the monetary-metals crowd.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $5.37 | -- |
| 2017 | $5.64 | +5.0% |
| 2018 | $5.08 | -9.9% |
| 2019 | $5.79 | +14.0% |
| 2020 | $8.45 | +45.9% |
| 2021 | $7.35 | -13.0% |
| 2022 | $7.57 | +3.0% |
| 2023 | $7.42 | -2.0% |
| 2024 | $8.91 | +20.1% |
| 2025 | $11.40 | +27.9% |
| Year | Yield |
|---|---|
| 2016 | 0.00% |
| 2017 | 0.00% |
| 2018 | 0.00% |
| 2019 | 0.00% |
| 2020 | 0.00% |
| 2021 | 0.00% |
| 2022 | 0.00% |
| 2023 | 0.00% |
| 2024 | 0.00% |
| 2025 | 0.00% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1B | -- |
| 2017 | $1.2B | +20.0% |
| 2018 | $1B | -16.7% |
| 2019 | $1.3B | +30.0% |
| 2020 | $3B | +130.8% |
| 2021 | $3.5B | +16.7% |
| 2022 | $3.5B | +0.0% |
| 2023 | $3.5B | +0.0% |
| 2024 | $5B | +42.9% |
| 2025 | $9B | +80.0% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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