Sprott Gold Miners vs Global X Silver Miners: Which Precious Metal Producer ETF Should You Buy?

Investors looking for exposure to the precious metals sector often choose between Global X - Silver Miners ETF (NYSEMKT:SIL) and Sprott Gold Miners ETF (NYSEMKT:SGDM) to gain equity-based leverage on metal prices.

A deeper look at the funds reveals significant differences in commodity focus and cost, with one tracking global silver while the other targeting North American gold producers. These funds serve as alternatives to holding physical bullion, offering potential outperformance when metal prices rise, driven by the operational leverage of mining businesses. However, they also carry idiosyncratic risks related to mine management, geographical stability, and cost inflation that direct metal ownership avoids.

Snapshot (cost & size)

Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield as of July 1 closing price.

SGDM is the more affordable option with an expense ratio of 0.46%, compared to 0.65% for SIL. While both pay dividends, SIL offers a slightly higher yield payout of 1.30%, whereas SGDM provides a 1.10% yield.

Performance & risk comparison

What's inside

The Sprott Gold Miners ETF focuses on gold-producing companies situated in the United States and Canada. It is a non-diversified fund that typically invests at least 90% of its net assets in its underlying index. Its largest positions include Agnico Eagle Mines (NYSE:AEM) at 10.6%, Barrick Mining (NYSE:B) at 9%, and Newmont (NYSE:NEM) at 8.3%. The fund holds 39 stocks in total. The fund was launched in 2014. Sprott Gold Miners ETF has paid $0.73 per share over the trailing 12 months, which, on its recent $63.36 share price, works out to a 1.10% yield.

The Global X - Silver Miners ETF aims to track the Solactive Global Silver Miners Total Return Index, which covers companies engaged in silver mining, refining, or exploration. Its largest positions include Wheaton Precious Metals (NYSE:WPM) at 21.4%, Pan American Silver (NYSE:PAAS) at 13.1%, and Coeur Mining (NYSE:CDE) at 10.8%. The fund maintains 41 holdings. The fund was launched in 2010. Global X - Silver Miners ETF has paid $1.02 per share over the trailing 12 months, which, on its recent $77.19 share price, works out to a 1.30% yield.

Which fund is the better buy?

Both gold and silver prices have been on a tear in recent years. Gold has more than doubled over the past two years as investors have flocked to the yellow metal for its historic inflation-hedging characteristics. Silver has nearly tripled since the start of 2025, partly in tandem with gold and partly due to industrial demand from renewable energy applications.

Investors wanting exposure to the metal rally without the tax and trading complications of buying futures or the physical metal have two good choices in the Sprott Gold Miners ETF, SGDM, and the Global X - Silver Miners ETF, SIL.

Sprott has delivered on the gold rally, returning 101% in the 52-week period ended March 31, 30.3% over the 3-year time frame, and 20.6% over the 5-year time frame.

Global X, meanwhile, has returned 63% in the 52 weeks ended June 30, 46% in the 3-year lookback, and 14% over the past five years.

Which is the better fund? The expense ratios are reasonable, the historic returns are to be expected, given that silver usually lags gold. While there are periods where silver does outperform its shinier brethren, historically, gold is the more coveted metal. In this case, go for the gold, go with Sprott SGDM.

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

Brendan Coffey 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.