SIL vs SPY
Global X Silver Miners ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SIL delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SIL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $4.8B | $821.1B | |
| Dividend Yield | 1.38% | 1.01% | |
| Holdings | 44 | 505 | |
| YTD Return | +15.65% | +13.17% | |
| 1Y Return | +86.61% | +21.53% | |
| 3Y Return (annualized) | +59.22% | +22.06% | |
| 5Y Return (annualized) | +22.06% | +13.35% | |
| Volatility (annualized) | 40.3% | 15.3% | |
| Max Drawdown | -83.4% | -56.5% | |
| Fund Family | Global X by mirae Asset | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 19, 2010 | Jan 22, 1993 |
SIL vs SPY Performance
Global X Silver Miners ETF (SIL) is a ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SIL returned +86.61% while SPY returned +21.53%. Year to date, SIL is up 15.65% versus a gain of 13.17% for SPY.
Over three years, SIL compounded at +59.22% per year against +22.06% for SPY; over five years the annualized figures are +22.06% and +13.35% respectively. Across the full 16-year window we track, SPY has the edge at +8.82% annualized vs +5.26%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SIL has been the more volatile fund, with annualized monthly volatility of 40.3% compared with 15.3% 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 -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.31. They move independently enough that combining them can meaningfully diversify a portfolio.
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 1.38% against 1.01% for SPY.
Holdings Overlap
SIL and SPY share 0 holdings out of 541 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $56 per year of difference.
Which performed better, SIL or SPY?
Over the past year SIL returned +86.61% vs +21.53% for SPY, so SIL leads on 1-year performance. Over the longest common window we track (16 years), SIL annualized +5.26% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, SIL or SPY?
SIL has been the more volatile fund at 40.3% annualized versus 15.3% for SPY. Worst drawdown: SIL -83.4% vs SPY -56.5%.
Should I hold both SIL and SPY?
SIL and SPY have a monthly-return correlation of 0.31, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SIL and SPY?
SIL and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 541 unique securities.
Which pays a higher dividend, SIL or SPY?
SIL yields 1.38% while SPY yields 1.01%, so SIL currently pays the higher dividend yield.
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