Top Silver ETFs Ranked: Physical, Mining & Futures Funds

Silver has been regarded as a store of value for more than 4,000 years, but what sets it apart from gold is its dual nature — it functions both as a monetary asset and as an industrial commodity. Uses range from solar panels and electric vehicles to electrical conductors and water filtration, making silver demand sensitive to both economic cycles and the energy transition.

Silver ETFs fall into four structural categories:

• Physically backed ETFs: Hold actual silver bars in secure vaults. The iShares Silver Trust (SLV), provided by BlackRock, stores its silver in JPMorgan Chase vaults in New York and London. The abrdn Physical Silver Shares ETF (SIVR) holds bars in ICBC Standard Bank vaults in the UK, with every bar’s serial number publicly listed.
• Silver mining ETFs: Funds like SIL and SILJ invest in the equities of silver mining companies such as Wheaton Precious Metals, Pan American Silver, Fresnillo, and Hecla Mining. When silver prices rise, mining profit margins can expand faster than the metal itself — though operational risks also increase.
• Silver futures ETFs: Provide exposure to silver price movements through futures contracts rather than physical storage.
• Leveraged and inverse ETFs: Use derivatives for amplified (2x, 3x) or inverse (-1x) daily exposure, designed for short-term trading.

The Sprott Physical Silver Trust (PSLV) stands apart as a closed-end trust holding fully allocated silver, with a redemption feature that allows certain holders to take delivery of physical bullion. Mexico leads global silver production, accounting for nearly a quarter of the world’s supply, followed by China and Peru — so the metal’s supply chain is concentrated in a handful of countries.

For related precious metals exposure, see also our lists of top gold-backed ETFs and best-performing precious metals funds.

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The table below presents a ranked list of top silver ETFs with live performance data, expense information, and fund details updated daily.