Sprott Gold Miners ETF (NYSEMKT:SGDM) offers equity exposure to North American gold miners, whereas abrdn Physical Silver Shares ETF (NYSEMKT:SIVR) tracks the spot price of physical silver bullion directly.
Investors seeking exposure to precious metals must choose between owning the physical commodity and owning the companies that extract it. While both funds provide hedges against market volatility, they respond differently to commodity price swings and to the operational risks inherent in the global mining sector.
Snapshot (cost & size)
Beta measures price volatility relative to the S&P 500; beta is calculated from monthly returns over the available fund history (up to five years). The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.
The abrdn Physical Silver Shares ETF is more affordable for long-term holders, carrying a 0.3% expense ratio compared to the 0.46% fee charged by the Sprott Gold Miners ETF.
Performance & risk comparison
What’s inside
The abrdn Physical Silver Shares ETF seeks to replicate the market value of physical silver by holding bullion in secure vaults and aims to track the spot price after accounting for operating expenses. Its largest positions include physical silver at 100.00%. Because it tracks a commodity rather than operating businesses, its sector breakdown is not reported. The fund was launched in 2009.
In contrast, the Sprott Gold Miners ETF holds a portfolio of 48 companies rather than raw gold, focusing on gold producers in the United States and Canada. Its largest positions include Agnico Eagle Mines Ltd (NYSE:AEM) at 9.80%, Newmont (NYSE:NEM) at 7.58%, and Barrick Mining (TSX:ABX) at 7.50%. It concentrates 100% of its assets in the basic materials sector and usually commits 90% of its net assets to its underlying index. The fund was launched in 2014.
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Which looks like the better buy
When comparing the Sprott Gold Miners ETF (SGDM) and the abrdn Physical Silver Shares ETF (SIVR), investors should consider several key factors. Let’s see what they tell us about each fund.
First, we should discuss the differing strategies of each fund. SGDM is a gold ETF, but it holds shares of gold-mining companies rather than physical gold bullion. It therefore carries risks beyond the price of gold alone, as labor disputes, supply chain disruptions, and natural disasters can all affect the prices of the stocks it holds. SIVR, by contrast, is a silver ETF that holds physical silver. Its performance is tied to the spot price of silver.
Two other important factors are historical performance and income potential. As for performance, SGDM has generated a total return of 190% over the last five years, with a compound annual growth rate (CAGR) of 23.7%. SIVR, meanwhile, has delivered a total return of 153%, with a CAGR of 20.4%. As for income, SGDM has a dividend yield of 0.97%, while SIVR pays no dividend whatsoever.
One final factor to weigh is cost. SGDM has an expense ratio of 0.46%, and SIVR has an expense ratio of 0.30%. Both of these rates are around the average for the ETF universe. For context, a person who invests $10,000 in each fund should expect to pay $46 in annual fees for their SGDM shares and $30 in annual fees for their SIVR shares.
In summary, although SGDM and SIVR are both precious metals ETFs, they have several key differences. SGDM, with its holdings of gold miners, has delivered higher returns and higher income. However, SIVR offers pure-metal exposure, untethered from operational risks, and lower fees. In a head-to-head matchup, investors are likely to be drawn to whichever fund more closely matches their own investment profile. Those willing to accept greater risk may choose SGDM, while those who are more cost-conscious may select SIVR.
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Which Precious Metals ETF is the Best Fit? Sprott Gold Miners ETF (SGDM) or abrdn Silver Fund (SIVR)? was originally published by The Motley Fool
