SLVR vs SPY
Sprott Silver Miners & Physical Silver ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SLVR delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SLVR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $747M | $821.1B | |
| Dividend Yield | 4.30% | 1.01% | |
| Holdings | 78 | 505 | |
| YTD Return | +2.64% | +12.93% | |
| 1Y Return | +80.40% | +20.62% | |
| 3Y Return (annualized) | - | +22.00% | |
| 5Y Return (annualized) | - | +13.33% | |
| Volatility (annualized) | 51.9% | 15.3% | |
| Max Drawdown | -43.7% | -56.5% | |
| Fund Family | Sprott ETFS | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | Jan 14, 2025 | Jan 22, 1993 |
SLVR vs SPY Performance
Sprott Silver Miners & Physical Silver ETF (SLVR) is a ETF from Sprott ETFS and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SLVR returned +80.40% while SPY returned +20.62%. Year to date, SLVR is up 2.64% versus a gain of 12.93% for SPY.
Risk: Volatility and Drawdowns
SLVR has been the more volatile fund, with annualized monthly volatility of 51.9% 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 -43.7% for SLVR 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 0.27. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SLVR 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, SLVR currently yields 4.30% against 1.01% for SPY.
Holdings Overlap
SLVR and SPY share 0 holdings out of 580 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, SLVR or SPY?
SLVR 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, SLVR or SPY?
Over the past year SLVR returned +80.40% vs +20.62% for SPY, so SLVR leads on 1-year performance. Over the longest common window we track (2 years), SLVR annualized +89.76% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, SLVR or SPY?
SLVR has been the more volatile fund at 51.9% annualized versus 15.3% for SPY. Worst drawdown: SLVR -43.7% vs SPY -56.5%.
Should I hold both SLVR and SPY?
SLVR and SPY have a monthly-return correlation of 0.27, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SLVR and SPY?
SLVR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 580 unique securities.
Which pays a higher dividend, SLVR or SPY?
SLVR yields 4.30% while SPY yields 1.01%, so SLVR currently pays the higher dividend yield.
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