SGDM vs. SLVP: Should Investor Choose a Gold or Silver ETF Right Now? Here's What You Need to Know
Key Points
SLVP delivered a higher one-year return, but with greater volatility and a steeper historical drawdown.
SGDM charges a higher expense ratio but has a lower beta and less severe max drawdown over five years.
Both funds concentrate on basic materials, but SLVP tilts toward silver, while SGDM focuses on North American gold miners.
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The iShares MSCI Global Silver and Metals Miners ETF (NYSEMKT:SLVP) and the Sprott Gold Miners ETF (NYSEMKT:SGDM) both offer targeted exposure to precious metals miners, but they take distinct approaches.
SLVP tracks global companies heavily involved in silver and metals mining, while SGDM zeroes in on U.S. and Canadian gold producers. This comparison looks at cost, performance, risk, sector tilts, and liquidity to help investors assess which fund may better match their portfolio needs.
Snapshot (cost & size)
| Metric | SLVP | SGDM |
|---|---|---|
| Issuer | iShares | Sprott |
| Expense ratio | 0.39% | 0.50% |
| 1-yr return (as of Feb. 16, 2026) | 204.4% | 154.3% |
| Dividend yield | 1.56% | 0.95% |
| Beta (5Y monthly) | 1.19 | 0.73 |
| AUM | $1.2 billion | $731 million |
Beta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.
SGDM has a slightly higher expense ratio than SLVP, making SLVP the more affordable option in terms of fees. SLVP also offers a higher dividend yield, which may appeal to investors seeking more income from their precious metals allocation.
Performance & risk comparison
| Metric | SLVP | SGDM |
|---|---|---|
| Max drawdown (5 y) | -56.18% | -49.68% |
| Growth of $1,000 over 5 years | $2,533 | $2,948 |
What's inside
SGDM holds 40 companies, with a portfolio entirely in basic materials and a clear emphasis on North American gold miners. Its largest positions include Agnico Eagle Mines, Newmont, and Wheaton Precious Metals, which together account for over a quarter of assets. The fund has an 11-year track record and is non-diversified, so individual company moves can have a significant impact.
SLVP also maintains a 100% basic materials focus but tilts toward global silver and metals miners. Top holdings are Hecla Mining, Industrias Peñoles, and Fresnillo, reflecting its international approach and silver orientation. Both funds are unhedged and lack ESG or leverage quirks, but investors should note the different commodity exposures driving each ETF’s performance.
For more guidance on ETF investing, check out the full guide at this link.
What this means for investors
Precious metals have long been considered “save haven” investments, and many investors have been flocking to gold and silver ETFs amid concerns around stock market volatility.
SGDM and SLVP both focus exclusively on precious metals. While SGDM targets gold mining companies, SLVP focuses on silver.
Silver has been more volatile in recent years, as evidenced by SLVP’s higher beta and steeper max drawdown — suggesting more severe price fluctuations. However, it’s also been more lucrative, with substantially higher 12-month total returns than SGDM.
Investors seeking greater stability in the precious metals space may prefer SGDM’s focus on gold, especially if silver’s meteoric rise leads to a correction later this year. If silver’s popularity continues, however, SLVP could have much more earning potential going forward.
No matter which ETF you choose, double-check that the rest of your portfolio is well-diversified. With gold and silver experiencing explosive returns lately, volatility could increase if precious metals face a pullback.
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Katie Brockman has no position in any of the stocks mentioned. The Motley Fool recommends Fresnillo Plc. The Motley Fool has a disclosure policy.
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