Overview
The largest silver miners ETF globally. 39 silver mining companies from the Solactive Global Silver Miners Total Return Index. Top 2025 performer driven by silver's 148% price surge combined with mining company operational leverage.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| WPM | Wheaton Precious Metals | 23.4% |
| PAAS | Pan American Silver | 12.8% |
| FR | First Majestic Silver | 9.8% |
| MAG | MAG Silver Corp. | 8.4% |
| HL | Hecla Mining | 7.8% |
| SSRM | SSR Mining Inc. | 5.4% |
| CDE | Coeur Mining | 4.8% |
| SVM | Silvercorp Metals | 4.4% |
| EXK | Endeavour Silver | 3.8% |
| FVI | Fortuna Silver | 3.4% |
Fund Details
Investment Thesis
SIL is the benchmark silver miners ETF providing leveraged exposure to silver prices through the equity of major global silver mining companies. When silver prices rise, silver miners' profit margins expand dramatically due to operating leverage — their costs are largely fixed while revenues grow with the silver price. SIL's weighting in Wheaton Precious Metals provides streaming company exposure which amplifies returns with lower risk than pure mining. The fund's 39-company portfolio diversifies single-mine and single-jurisdiction risk while maintaining substantial silver price beta.
Who It's For
Investors who want amplified silver price exposure through mining company equity rather than the physical metal. SIL suits those with a positive silver price thesis who want the operational leverage that silver miners provide relative to simply owning SLV or SIVR. The fund provides 2-4x the return of silver spot prices in sustained bull markets with similar amplification of drawdowns. Best held alongside physical silver for a complete precious metals allocation.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $28.82 | -- |
| 2017 | $34.42 | +19.4% |
| 2018 | $26.42 | -23.2% |
| 2019 | $32.18 | +21.8% |
| 2020 | $54.42 | +69.1% |
| 2021 | $42.42 | -22.1% |
| 2022 | $30.82 | -27.4% |
| 2023 | $36.42 | +18.2% |
| 2024 | $28.82 | -20.9% |
| 2025 | $65.20 | +126.2% |
| Year | Yield |
|---|---|
| 2016 | 0.82% |
| 2017 | 0.72% |
| 2018 | 0.82% |
| 2019 | 0.72% |
| 2020 | 0.62% |
| 2021 | 0.52% |
| 2022 | 0.72% |
| 2023 | 0.62% |
| 2024 | 0.72% |
| 2025 | 0.82% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.6B | -- |
| 2017 | $0.9B | +50.0% |
| 2018 | $0.6B | -33.3% |
| 2019 | $0.9B | +50.0% |
| 2020 | $2.8B | +211.1% |
| 2021 | $1.8B | -35.7% |
| 2022 | $1.2B | -33.3% |
| 2023 | $1.6B | +33.3% |
| 2024 | $1.6B | 0.0% |
| 2025 | $3.7B | +131.2% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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