Gold's Stability or Silver's Explosive Gains? GLDM vs. SIVR

Abrdn Physical Silver Shares ETF (NYSEMKT:SIVR) and SPDR Gold MiniShares Trust (NYSEMKT:GLDM) differ most in their recent returns, volatility, and cost—SIVR has posted a much higher one-year return and higher beta, while GLDM stands out for its lower fee and larger assets under management (AUM).

Both SIVR and GLDM are physically backed exchange-traded funds (ETFs) designed to give investors exposure to precious metals—silver and gold, respectively—without the need for direct ownership or storage. This comparison examines their cost, performance, risk, and composition to help readers determine which may better fit specific portfolio needs.

Snapshot (cost and size)

Beta measures price volatility relative to the S&P 500; beta is calculated from five-year weekly returns. The 1-yr return represents total return over the trailing 12 months.

GLDM is more affordable on fees, charging just 0.10% annually versus SIVR’s 0.30%, which could appeal to cost-conscious investors. Yield is not a factor in this comparison, as neither fund reports a dividend payout.

Performance and risk comparison

What's inside

SPDR Gold MiniShares Trust is designed to track the performance of gold bullion, offering investors a low-cost and accessible way to gain gold exposure. The fund is over seven years old and has amassed $26.8 billion in assets under management (AUM). Details on individual holdings are not disclosed, but the fund’s focus is straightforward: gold bullion.

abrdn Physical Silver Shares ETF, in contrast, targets the price of physical silver, with no reported sector breakdown or disclosed top holdings, but its purpose is similar—to mirror the silver spot price as closely as possible. Neither fund employs leverage, hedging, or other structural quirks, making both relatively simple options for metals exposure.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investors

Both funds delivered exceptional returns in 2025's precious metals rally, but silver dramatically outpaced gold. SIVR surged approximately 180% over the past year while GLDM gained roughly 70%, as silver benefited from both safe-haven demand and surging industrial use.

GLDM is one of the cheapest ways to own gold. It holds physical gold bullion with an ultra-low 0.10% expense ratio and has $25.2 billion in assets. The fund tracks gold's spot price closely, providing straightforward exposure without complexity. Gold's role as a monetary asset and hedge against currency debasement attracted massive investor flows throughout the year.

SIVR stores physical silver at a 0.30% expense ratio -- three times GLDM's cost but still reasonable for metals exposure. SIVR's $5.4 billion fund captured both investment demand and critical industrial applications that gold lacks, driving its superior performance despite higher volatility.

GLDM makes sense if you want the lower fees and steadier price movements that come with gold's established role as a monetary safe haven. It's been a reliable store of value for thousands of years, which brings a certain stability. SIVR offers greater potential for gains thanks to silver's growing industrial importance, particularly in green energy and electronics. Just remember that silver's price can swing much more dramatically than gold's, and what went up sharply this year could face bigger pullbacks ahead.

Glossary

Exchange-traded fund (ETF): A fund that trades on stock exchanges like a stock, holding underlying assets.
Physically backed ETF: An ETF that holds the actual commodity (like gold or silver) in storage to track its price.
Expense ratio: The annual fee a fund charges investors, expressed as a percentage of assets invested.
Assets under management (AUM): The total market value of all assets managed by a fund or investment firm.
Beta: A measure of how volatile an investment is compared with a benchmark, usually the S&P 500 index.
Total return: Investment performance including price changes plus any income, assuming all payouts are reinvested.
Max drawdown: The largest peak-to-trough decline in an investment’s value over a specified period.
Volatility: The degree to which an investment’s price moves up and down over time.
Spot price: The current market price for immediate settlement of a commodity like gold or silver.
Leverage: Using borrowed money or derivatives to increase exposure, which can magnify gains and losses.
Hedging: Strategies used to reduce or offset the risk of adverse price movements in an investment.
Gold bullion: Physical gold in bars or ingots, valued primarily by weight and purity, not collectible features.

Sara Appino has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.