GLD vs SLV: Gold ETF vs Silver ETF, Two Very Different Precious Metals
Gold is the classic safe haven and inflation hedge. Silver is part precious metal, part industrial commodity. Both offer alternatives to stocks and bonds, with different risk profiles.
GLD (SPDR Gold Shares) and SLV (iShares Silver Trust) both hold physical precious metals but behave quite differently. Gold is primarily a monetary metal: central banks hold it, it acts as a crisis hedge, and it has low industrial demand. Silver is roughly 50% monetary metal and 50% industrial, used in solar panels, electronics, and medical devices, making it more economically sensitive. Silver is typically 2-3x more volatile than gold. SLV costs slightly more at 0.50% vs GLD's 0.40%. For pure inflation/crisis hedging, GLD is the conventional choice. SLV benefits from both precious metal demand and industrial growth, particularly the solar energy buildout, but falls harder in recessions when industrial demand contracts.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
📋 GLD vs SLV — Key Facts Side by Side
| Metric | GLD | SLV |
|---|---|---|
| Fund Name | SPDR Gold Shares | iShares Silver Trust |
| Issuer | State Street | iShares |
| Tracks Index | Gold Spot Price (LBMA) | Silver Spot Price (LBMA) |
| Expense Ratio | 0.40% ✓ | 0.50% |
| Cost per $10K/yr | $40.00 | $50.00 |
| AUM | $130.1B | $28.2B |
| Holdings | 1 | 1 |
| Inception | 2004 | 2006 |
| 1-Year Return | +22.40% | +55.79% |
| 3-Year Return | +28.40% | +36.73% |
| 5-Year Return | +17.45% | +17.48% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.01% | 0.02% |
Expense ratio, AUM, and returns updated Jul 14, 2026 from ETF BFF database. Returns are annualised. Not investment advice.
📊 GLD vs SLV — Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- want the lowest fees: saves ~$10/yr per $10K vs SLV
- want a hedge against inflation and market drawdowns
- want a hedge against inflation and market drawdowns
- already use iShares and prefer staying within one fund family
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
⚙️ Want the Full Interactive Comparison?
Side-by-side holdings overlap, sector breakdown, and live performance tabs, all in one place.
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❓ GLD vs SLV — Frequently Asked Questions
New to ETF investing? See answers to the most common ETF questions →