Silver Pulls Back from Record Highs: Top ETFs to Track the Next Move

Improved risk appetite also weighed on safe-haven metals, with sentiment boosted by easing U.S.-China trade tensions, optimism over ending the U.S. government shutdown, and strong corporate earnings.

President Donald Trump said he expects to reach a “fair” trade deal with China’s President Xi Jinping during their upcoming meeting in South Korea, further lifting market confidence.

Focus Shifts to Inflation and Fed Policy

Attention now turns to Friday’s U.S. inflation report, which could shape expectations ahead of a potential Federal Reserve rate cut next week. Last week, silver had reached all-time highs amid a liquidity crunch in London’s market that sparked a scramble for physical supply, reinforced by robust demand from India.

Silver ETFs to Watch

While gold ETFs have dominated the commodity space this year, attracting more than $60 billion in inflows, silver ETFs have also seen strong investor interest with over $5.5 billion in net new money.

Despite the recent dip, investors seeking to capture a potential renewed momentum in the world’s second most popular precious metal have a wide range of ETFs to consider.

US-listed Silver Commodity ETFs:

1. iShares Silver Trust (SLV): This is a grantor trust that holds physical silver bullion to track the price of silver less expenses. It aims to provide investors exposure to daily silver price movements and serves as an inflation hedge. SLV is highly liquid with assets under management around $26 billion and has an expense ratio of 0.50%. It does not use futures contracts, eliminating risks like contango or backwardation, focusing solely on physical silver bullion.​
2. abrdn Physical Silver Shares ETF (SIVR): SIVR is a physically-backed ETF holding allocated silver bullion bars secured in vaults in London. It tracks the silver price less trust expenses, with a very low expense ratio of 0.30% compared to peers. It offers transparency with a daily updated bar list and aims to provide exposure to silver's industrial and monetary demand. SIVR is the second largest Silver ETF with $3.52 billion in AUM.
3. Kurv Silver Enhance Income ETF (KSLV): KSLV seeks to provide exposure to silver while generating monthly income through active options strategies on Silver ETPs. It aims to maximize total return with efficient exposure to silver and potentially more tax-advantageous monthly income compared to physical silver investment.

Explore EU-listed Silver Commodity ETPs

US-Listed Silver Miners ETFs

1. Global X Silver Miners ETF (SIL): SIL invests in equity securities of companies primarily involved in silver mining by tracking the Solactive Global Silver Miners Total Return Index. The ETF aims to provide exposure to the performance of silver miners, reflecting both silver price movements and operational leverage. As of October 20, 2025, the fund holds 38 securities, with a strong concentration in Canada (62.1%). Major holdings include Wheaton Precious Metals (16.37%), Pan American Silver Corp. (11.87%), Coeur Mining (9.76%), Hecla Mining Corp. (6.71%), and OR Royalties (5.83%). The fund manages approximately $4.04 billion in assets and charges an expense ratio of 0.65%.
2. Amplify Junior Silver Miners ETF (SILJ): SILJ focuses on smaller, "junior" silver mining companies that typically have higher growth potential but also higher risk compared to larger miners. It's an active ETF with an expense ratio around 0.60%, offering targeted exposure to exploration and development stage silver miners.​
3. iShares MSCI Global Silver Miners ETF (SLVP): SLVP provides exposure to global silver and some metals mining companies by tracking the MSCI ACWI Select Silver Miners Investable Market Index. The ETF offers diversified holdings across established miners worldwide, with an expense ratio near 0.39%.​
4. Amplify SILJ Covered Call ETF (SLJY): This ETF combines exposure to junior silver miners with a covered call strategy to generate income through option premiums. It aims to reduce volatility and enhance yield, suitable for income-oriented investors who want silver miner exposure with downside protection.

Explore EU-listed Silver Miners ETFs

Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.