It is uncommon to find investments that can benefit from opposing macroeconomic forces. Most assets tend to perform well in one type of economic environment, while struggling when conditions shift in the opposite direction.
Technology stocks, for example, often thrive during periods of falling interest rates and strong economic growth, but they can face meaningful headwinds when rates rise and capital becomes more expensive.
Bonds tell a similar story. For nearly four decades of declining interest rates, famous fixed-income managers like Bill Gross at Pimco became household names. But after 2022 reversed that long-standing trend, bond investors experienced some of the weakest returns in modern history.
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Silver stands out as an exception. Often overlooked in favor of gold, which is more widely held and actively stockpiled by central banks, silver combines unique characteristics that give it both growth-oriented and defensive appeal.
Unlike gold, silver has significant industrial demand. It plays a key role in photovoltaic cells used in solar panels, making it directly tied to renewable energy investment. Silver is also used in electronics, medical devices and electric vehicles. While materials such as copper and lithium receive more attention in energy transition discussions, silver remains a critical input across multiple technologies.
At the same time, silver retains defensive qualities as a precious metal. Although it is not a reserve asset for central banks, supply is finite, extraction is energy intensive and production cannot be scaled quickly. That contrasts sharply with fiat currencies, which can be created by central banks as policy conditions change. As a result, silver is still viewed as a hedge against monetary debasement.
This dual identity shapes how today’s retail investors approach the metal. Some see silver as a growth asset tied to expanding industrial use, while others view it as a more accessible alternative to gold with similar protection characteristics.
Regardless of the thesis, investors no longer need to deal with physical bullion to gain exposure. Silver exchange-traded funds (ETFs) provide a liquid, brokerage-traded way to invest in the metal, avoiding dealer markups, storage and security concerns.
These ETFs can also be held in tax-sheltered accounts such as a Roth IRA, making them a practical and accessible option for a wide range of investors.
Here are seven of the best silver ETFs to buy now:
| ETF | Expense ratio |
| iShares Silver Trust (ticker: SLV) | 0.50% |
| abrdn Physical Silver Shares ETF (SIVR) | 0.30% |
| 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% |
| Kurv Silver Enhanced Income ETF (KSLV) | 1.00% |
| ProShares Ultra Silver (AGQ) | 0.95% |
iShares Silver Trust (SLV)
“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.”
The largest silver ETF is SLV, which holds around $33.9 billion in assets under management (AUM). The fund owns more than 516.5 million ounces of silver in trust and is designed to track the LBMA Silver Price as its benchmark. SLV is highly liquid, with a 0.02% 30-day median bid-ask spread, high daily trading volume and an active options market. The ETF charges a 0.5% expense ratio.
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.” A lower-cost alternative is SIVR, which charges a 0.3% expense ratio. For a $10,000 investment, this works out to $30 a year in fee drag.
While smaller than SLV, SIVR is still well capitalized, with $5.2 billion in assets. Aberdeen emphasizes transparency, publishing a full list of silver bars with serial numbers on its website. The silver is held in secure custody with ICBC Standard Bank in the U.K. and audited periodically. However, SIVR’s option chain has less expiry dates and strike prices than SLV does, which makes it less suitable for traders.
Global X Silver Miners ETF (SIL)
Investors seeking amplified exposure to silver prices may consider silver mining stocks. Because miners have relatively fixed operating costs, changes in silver prices can have an outsized effect on profit margins. That embedded operating leverage can lead to strong gains during silver bull markets, but it can also magnify losses when prices fall. For exposure to silver miners, Global X ETFs offers 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.” SIL charges a 0.65% expense ratio.
Amplify Junior Silver Miners ETF (SILJ)
Junior silver miners are typically smaller, less diversified and at an earlier stage than established miners. Many are focused on exploration or development rather than steady production, which increases exposure to operational setbacks, financing risk and even political instability in emerging-market mining jurisdictions. At the same time, successful discoveries or rising silver prices can lead to sharp gains.
“SILJ provides focused exposure to small-cap companies driving silver production, exploration and development,” explains Christian Magoon, CEO of Amplify ETFs. “By tracking the Nasdaq Junior Silver Miners Index, SILJ captures the amplified performance potential of junior miners, which often move more sharply than silver itself.” The ETF charges a 0.69% expense ratio.
Sprott Silver Miners & Physical Silver ETF (SLVR)
Investors looking to balance exposure between silver miners and physical silver can do so through a multi-asset ETF such as SLVR. About 80% of the portfolio is dedicated to tracking the Nasdaq Sprott Silver Miners Index. The remaining portion, currently around 20%, is allocated to the Sprott Physical Silver Trust (PSLV), a closed-end fund (CEF) that holds physical silver bullion.
Another reason some investors gravitate toward SLVR is Sprott’s specialization in real assets. The firm is one of the most prominent asset managers focused on precious and base metals, offering ETFs and CEFs tied to silver, gold, copper, nickel and even uranium across both physical holdings and mining equities. Sprott also publishes sector research, which appeals to investors seeking deeper insights.
Kurv Silver Enhanced Income ETF (KSLV)
Silver is a volatile asset, with its spot price driven up and down by a mix of industrial demand, investor sentiment and macroeconomic factors such as inflation expectations and currency movements. Because of that volatility, a common income strategy is to hold a silver ETF and sell covered calls, which limits upside but generates option premium. KSLV packages that approach into a single fund.
The ETF actively manages an options strategy that can involve selling both call and put options on SLV. The goal is for total return, including price changes and distributions, to outperform spot silver over time. Elevated volatility has supported a very high distribution yield, currently around 21.3%. That income potential comes at a cost, however, with a relatively high 1% expense ratio.
ProShares Ultra Silver (AGQ)
Silver mining stocks can provide leveraged exposure to silver prices, but that relationship is imperfect. Mining shares are still equities, which means company-specific factors such as cost overruns, operational disruptions and political risk can cause stock performance to diverge from movements in silver prices. For investors seeking more direct leveraged exposure, AGQ offers an alternative.
AGQ is designed to deliver two times the daily return of the Bloomberg Silver Subindex. This benchmark reflects silver futures prices rather than spot silver. Moreover, AGQ obtains its exposure via index swaps instead of physical silver. These structural features, combined with a 0.95% expense ratio, make the ETF a tool best suited for short-term tactical trades rather than a long-term buy-and-hold strategy.
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7 Best Silver ETFs to Buy originally appeared on usnews.com
Update 12/22/25: This story was previously published at an earlier date and has been updated with new information.
