Central banks around the world are enamored with gold. According to the World Gold Council, they collectively hold roughly a…
Central banks around the world are enamored with gold. According to the World Gold Council, they collectively hold roughly a fifth of all the gold ever mined.
The appeal comes down to a few core traits: gold is widely accepted, highly liquid and has historically preserved purchasing power over long periods.
Its finite supply makes it resistant to currency debasement, whether through central bank balance sheet expansion or government spending, and it has generally kept pace ahead of inflation across centuries.
[Sign up for stock news with our Invested newsletter.]
Silver does not share that same status as a central bank reserve asset, but it remains highly relevant as an investment, nonetheless. Beyond jewelry, silver is increasingly used as a critical industrial input.
One of the key drivers is electrification, which refers to the trend of replacing systems that rely on fossil fuels with electricity-powered alternatives to reduce carbon emissions. Silver’s high ductility and conductivity makes it essential in electrification build-outs.
A January study published in the journal of Resources, Conservation and Recycling highlights this dynamic. The authors project that global silver supply may only meet 62% to 70% of demand by 2030, with total demand estimated at 48,000 to 54,000 tons annually.
Photovoltaic cells, which convert sunlight into electricity for solar panels, are expected to be the fastest-growing source of demand, even amid competition from sectors like automotive and electronics.
This ties directly into broader shifts in energy consumption. As artificial intelligence compute demand drives exponential growth in data center capacity, hyperscalers are discovering that power and the materials required to generate it, not chips, may be the real bottleneck.
In March, several major technology firms agreed to a White House-backed pledge to fully fund the energy required for their data centers, rather than passing costs onto consumers.
With fossil fuel supply facing uncertainty tied to geopolitical tensions, including disruptions around the Strait of Hormuz, renewable energy sources like solar are once again in focus. Silver sits at the center of that transition and is highly investable thanks to exchange-traded funds (ETFs).
“Physically backed silver ETFs offer three significant advantages over other types of silver investments: transparency, liquidity and convenience,” says Sean August, CEO of the August Wealth Management Group. “These ETFs regularly disclose the amount of silver held, are easily traded on major exchanges and grant exposure to silver prices without the need to store and insure bullion.”
Here are seven of the best silver ETFs to buy today:
| ETF | Expense ratio |
| abrdn Physical Silver Shares ETF (ticker: SIVR) | 0.30% |
| iShares Silver Trust (SLV) | 0.50% |
| Global X Silver Miners ETF (SIL) | 0.65% |
| Amplify Junior Silver Miners ETF (SILJ) | 0.69% |
| Sprott Silver Miners & Physical Silver ETF (SLVR) | 0.65% |
| iShares MSCI Global Silver and Metals Miner ETF (SLVP) | 0.39% |
| Themes Silver Miners ETF (AGMI) | 0.35% |
abrdn Physical Silver Shares ETF (SIVR)
“I really like silver ETFs over other ways to hold silver,” says Anessa Custovic, chief investment officer at Cardinal Retirement Planning Inc. “You get the diversification benefits of holding silver without the headache of trying to purchase and store bullion.” Using a silver ETF can help investors avoid costly dealer spreads and markups, storage and insurance concerns, and transport security risks.
SIVR is currently the lowest-cost physically backed silver ETF in the U.S. market, with an expense ratio of 0.3%. For a $10,000 investment, that works out to just $30 a year in fees. This low cost is partly due to a fee waiver, with the sponsor covering 0.15% and committing to maintain that waiver until further notice. The ETF currently has just under $5.5 billion in assets under management (AUM).
iShares Silver Trust (SLV)
SIVR may be the most affordable U.S.-listed spot silver ETF, but it is not the largest. Despite managing a sizable $5.5 billion in assets, it is dwarfed by SLV, which launched in April 2006 and has grown into a $39 billion giant. Its scale and long track record have made it the default choice for many institutional and retail investors seeking direct exposure to silver prices. SLV also has options available for active traders.
SLV tracks the LBMA silver price and holds physical silver in trust, currently totaling about 492.3 million ounces, or roughly 15,310 tons. However, investors should be aware that during periods of market stress or heightened demand, the ETF’s market price can deviate from its net asset value (NAV). As of April 17, SLV was trading at a modest 2.5% premium to NAV. The ETF charges a 0.50% expense ratio.
Global X Silver Miners ETF (SIL)
“Silver mining stocks can offer indirect exposure to silver prices and tend to be leveraged plays on silver prices, owing to the fixed costs of extracting the metal,” explains Roberta Caselli, commodities investment strategist at Global X ETFs. “Unlike investing directly in silver, miners can expand production as profit margins grow, which can benefit their share prices.” For silver miners, Global X ETFs offers SIL.
SIL tracks the Solactive Global Silver Miners Total Return Index, a benchmark of 38 companies that sit almost entirely within the materials sector. Geographically, just under 65% of the portfolio is allocated to Canadian-domiciled miners, reflecting the country’s long-standing role as a global hub for resource development. The ETF charges a 0.65% expense ratio and has $5.7 billion in AUM.
Amplify Junior Silver Miners ETF (SILJ)
“Silver’s recent rally has been driven by tight physical supply, strong industrial demand and a more supportive macro environment,” says Nathan Miller, vice president of product development at Amplify ETFs. “That backdrop can favor junior silver miners, which tend to exhibit higher operating leverage as prices rise.” Thanks to the silver bull market, SILJ has returned 43% annualized over the last three years.
“SILJ provides diversified exposure to smaller silver producers and developers, offering a higher-beta way to express a bullish silver view,” Miller explains. “The trade-off is increased volatility, but sustained higher silver prices could disproportionately benefit junior miners.”
The ETF charges a 0.69% expense ratio, and also has an income-oriented counterpart, the Amplify SILJ Junior Silver Miners Covered Call ETF (SLJY).
[READ: 4 Best Copper ETFs to Buy]
Sprott Silver Miners & Physical Silver ETF (SLVR)
While popular, SIL isn’t the only option for investors seeking exposure to silver miners. A strong competitor is SLVR from Sprott ETFs, a firm known for its deep expertise in commodities and precious metals. Many investors may already be familiar with Sprott through its lineup of physically backed closed-end trusts, which provide exposure to gold, silver, copper and even uranium.
The majority of SLVR’s portfolio is allocated to silver mining equities via the Nasdaq Sprott Silver Miners Index, resulting in a heavy materials sector tilt and high Canadian equity representation. What sets SLVR apart is its explicit allocation to the Sprott Physical Silver Trust (PSLV), which introduces direct exposure to spot silver prices within the same ETF structure. The ETF charges a 0.65% expense ratio.
iShares MSCI Global Silver and Metals Miner ETF (SLVP)
Investors focused on silver miners may also want to keep multiple ETFs on their radar for tax-loss harvesting purposes. Silver miners tend to be more volatile than spot silver due to operating leverage, meaning they can fall harder during downturns. Having an alternative ETF that is not considered substantially identical by the IRS allows investors to realize losses without violating the wash sale rule.
SLVP can serve as a tax-loss harvesting partner for either SLVR or SIL. It tracks the MSCI ACWI Select Silver Miners Investable Market Index, which differs in construction and methodology but still has meaningful overlap in holdings. As an added benefit, SLVP comes with a lower 0.39% expense ratio. The ETF returned 200.8% in 2025, making it one of the best-performing ETFs for that year.
Themes Silver Miners ETF (AGMI)
Most of the silver and silver miner ETFs discussed so far charge at least 0.3% or more. Investors focused on affordability, however, may want to keep AGMI on their radar. This ETF tracks the STOXX Global Silver Miners Index. It launched in May 2024 and remains relatively small in terms of AUM compared to more established peers. Still, it undercuts even SLVP with a 0.35% expense ratio.
That said, expense ratios are only one part of the cost equation. AGMI currently has a relatively wide 0.87% 30-day median bid-ask spread. For active traders, that lower liquidity can translate into higher implicit trading costs, though this could improve over time if the ETF is able to scale up in assets and trading volume. Contrast this with SIL, which has a lower 0.16% 30-day median bid-ask spread.
More from U.S. News
9 ETFs for Solid Alternative Assets
7 Best International Stock Funds to Buy for 2026
7 Best Silver ETFs to Buy in 2026 originally appeared on usnews.com
Update 04/21/26: This story was previously published at an earlier date and has been updated with new information.