GLD vs SLV: Which ETF Is Better in 2026?
Short answer
GLD (SPDR Gold Shares) tracks LBMA Gold Price (physical gold) at 0.40%; SLV (iShares Silver Trust) tracks LBMA Silver Price (physical silver) at 0.50%. They give you different exposure, so pick by what you want to own: GLD for LBMA Gold Price (physical gold), SLV for LBMA Silver Price (physical silver). Neither is universally better.
GLD vs SLV at a glance
| GLD | SLV | |
|---|---|---|
| Fund | SPDR Gold Shares | iShares Silver Trust |
| Tracks | LBMA Gold Price (physical gold) | LBMA Silver Price (physical silver) |
| Expense ratio | 0.40% | 0.50% |
| Dividend yield | 0% (no dividend) | 0% (no dividend) |
| AUM | ~$150.4 billion | ~$36.8 billion |
| Top holding | n/a | n/a |
| Issuer | State Street Investment Management | iShares |
Approximate as of mid-2026; verify with each issuer.
What the differences actually mean
Cost. GLD charges 0.40% a year and SLV charges 0.50%. On a $10,000 holding that is roughly $40 versus $50 a year. The gap looks tiny, but GLD keeps a little more of your return every year, and over two or three decades of compounding that difference grows into real money.
Dividend yield. GLD yields about 0% (no dividend) and SLV about 0% (no dividend). The yields are close, so income is not the deciding factor here.
Size and liquidity. GLD holds about ~$150.4 billion versus SLV's ~$36.8 billion. Both are large enough to trade with tight bid-ask spreads, so for a buy-and-hold investor the size gap rarely changes anything in practice; it mostly tells you how widely each fund is already held.
Issuer. GLD is run by State Street Investment Management and SLV by iShares. State Street SPDR launched the first US ETF and runs many sector funds. iShares (BlackRock) is the largest ETF issuer, with deep liquidity across its range.
Which fits which investor
GLD (LBMA Gold Price (physical gold)) and SLV (LBMA Silver Price (physical silver)) give you genuinely different exposure, so this is a choice of what you want to own, not just which is cheaper. A broad-market fund suits a core, long-horizon holding you can size large and forget. A narrower, sector, or growth-tilted fund adds concentration and usually more volatility, which suits a longer time horizon and a higher risk tolerance, and is better used as a satellite position than as your whole portfolio.
What is GLD?
Each share represents a claim on physical gold held in vaults, so the price tracks spot gold rather than any company or dividend. It is used as an inflation and crisis hedge and a diversifier against stocks. It pays no income and charges a 0.40% fee.
What is SLV?
Holds physical silver bullion, so shares track the spot silver price. Silver is both a precious metal and an industrial input (solar, electronics), which makes it more volatile than gold and more tied to the economic cycle. It pays no income and charges a 0.50% fee.
GLD or SLV: which should you pick?
- Pick GLD if you want LBMA Gold Price (physical gold) exposure at 0.40%.
- Pick SLV if you want LBMA Silver Price (physical silver) exposure at 0.50%.
- Overlap: their top holdings differ, so they can be complementary.
- Cost: 0.40% vs 0.50%, a small but compounding difference.
The bottom line: GLD vs SLV
GLD (LBMA Gold Price (physical gold)) and SLV (LBMA Silver Price (physical silver)) give you different exposure, so pick by what you want to own, not by which is "better". They are different enough to hold together if you want both. Walnut can show the overlap against your real portfolio before you decide.
Build a portfolio around GLD with Walnut
Walnut connects your real brokerage so you can see how GLD and SLV overlap with what you already own, analyze either by chatting through Claude or ChatGPT, and place any trade yourself.
FAQ
What is the difference between GLD and SLV?
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GLD tracks LBMA Gold Price (physical gold) (0.40% expense ratio); SLV tracks LBMA Silver Price (physical silver) (0.50%). They track different indexes, so they give you different exposure.
Is GLD or SLV cheaper?
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GLD charges 0.40% and SLV charges 0.50% as of mid-2026. Over decades the cheaper fund keeps more of your return, but verify current figures with each issuer.
Do GLD and SLV hold the same stocks?
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Their top holdings differ, so they are more complementary than redundant. Check the full holdings before assuming they are interchangeable.
Which has a higher dividend yield, GLD or SLV?
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GLD yields about 0% (no dividend) and SLV about 0% (no dividend) (mid-2026, approximate). If income matters, that gap is one input, but total return and cost matter more for most long-term investors.
Should you own both GLD and SLV?
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It can make sense if they give you genuinely different exposure, but check the overlap first so you are not paying two fees for one bet. Walnut can show the overlap against your real portfolio.
Walnut is informational, not investment advice. ETF figures are approximations stamped to mid-2026; verify current data with each issuer before deciding. Nothing here is a recommendation.