SLV vs GLDM: Physical Silver vs Low-Cost Physical Gold
SLV holds silver at 0.50%. GLDM holds gold at just 0.10%. Different metals, different risk profiles, very different costs. For most investors, GLDM offers better risk-adjusted precious metal exposure.
SLV (iShares Silver Trust) and GLDM (SPDR Gold MiniShares) are both physically-backed precious metal ETFs, but they represent different metals at very different costs. SLV holds physical silver at 0.50% — silver is a hybrid monetary/industrial metal with higher volatility than gold. GLDM holds physical gold at 0.10% — the cheapest major gold ETF and a 5x fee advantage over SLV. Gold has historically provided better risk-adjusted returns than silver, with lower volatility and better crisis hedge properties. Silver has more explosive upside in precious metal bull markets but also deeper drawdowns. If you want precious metal exposure, GLDM offers a more stable, much cheaper entry point. SLV is for investors who specifically want silver's higher-beta precious metal exposure, particularly as a solar/industrial demand play.
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.
Both funds trade commission-free at every major brokerage. Where to buy them →
📋 SLV vs GLDM: Key Facts Side by Side
| Metric | SLV | GLDM |
|---|---|---|
| Fund Name | iShares Silver Trust | SPDR Gold MiniShares |
| Issuer | iShares | State Street |
| Tracks Index | Silver Spot Price (LBMA) | Gold Spot Price (LBMA) |
| Expense Ratio | 0.50% | 0.10% ✓ |
| Cost per $10K/yr | $50.00 | $10.00 |
| AUM | $30.0B | $30.7B |
| Holdings | 1 | 1 |
| Inception | 2006 | 2018 |
| 1-Year Return | +12.46% | +0.60% |
| 3-Year Return | +39.64% | +30.56% |
| 5-Year Return | +21.03% | +18.69% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.02% | 0.01% |
AUM and returns updated Oct 14, 2026 from ETF BFF database; expense ratios verified against issuer filings. Returns are annualised. Not investment advice.
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📊 SLV vs GLDM: Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- want a hedge against inflation and market drawdowns
- already use iShares and prefer staying within one fund family
- want the lowest fees: saves ~$40/yr per $10K vs SLV
- want a hedge against inflation and market drawdowns
💰 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.
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