SIL vs SPY
Global X Silver Miners ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SIL or SPY?
Mid Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SIL led over 1Y, 3Y and 5Y, SPY over the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 75.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SIL | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $5.1B | $804.7B |
| Dividend Yield | 1.04% | 0.98% |
| Holdings | 42 | 505 |
| YTD Return | +10.45% | +13.51%Best |
| 1Y Return | +35.79%Best | +18.19% |
| 3Y Return (annualized) | +58.49%Best | +23.29% |
| 5Y Return (annualized) | +21.97%Best | +13.21% |
| Volatility (annualized) | 40.4% | 14.4%Best |
| Max Drawdown | -83.4% | -34.1%Best |
| $10,000 over 5 years | $26,994Best | $18,596 |
| Top 10 Weight | 75.7% | 37.8%Best |
| Fund Family | Global X by mirae Asset | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | Apr 19, 2010 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 20, 2010 to Sep 25, 2026 (16.4 years).
SIL vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16.4 years both funds cover.
SIL vs SPY Performance
Global X Silver Miners ETF (SIL) is an ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SIL returned +35.79% while SPY returned +18.19%. Year to date, SIL is up 10.45% versus a gain of 13.51% for SPY.
Over three years, SIL compounded at +58.49% per year against +23.29% for SPY; over five years the annualized figures are +21.97% and +13.21% respectively. Across the full 16-year window we track, SPY has the edge at +12.45% annualized vs +4.93%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SIL has been the more volatile fund, with annualized monthly volatility of 40.4% compared with 14.4% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -83.4% for SIL and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.31. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SIL charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, SIL currently yields 1.04% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 39 holdings in SIL and 504 in SPY, totalling 99.9% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 39 positions we hold weights for in SIL and 504 in SPY, against full books of 42 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for SIL (99.3% of the fund), and 6 for SIL that do not appear in SPY (22.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of SIL and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SIL or SPY?
SIL has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, SIL or SPY?
Over the past year SIL returned +35.79% vs +18.19% for SPY, so SIL leads on 1-year performance. Over the longest common window we track (16 years), SIL annualized +4.93% vs +12.45% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SIL or SPY?
SIL has been the more volatile fund at 40.4% annualized versus 14.4% for SPY. Worst drawdown: SIL -83.4% vs SPY -34.1%.
Should I hold both SIL and SPY?
SIL and SPY have a monthly-return correlation of 0.31, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SIL or SPY?
SIL yields 1.04% while SPY yields 0.98%, so SIL currently pays the higher dividend yield.
Is SPY better than SIL?
SPY has a lower expense ratio. SIL led over 1Y, 3Y and 5Y, SPY over the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 75.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.