What Is SLV? iShares Silver Trust

SLV is iShares Silver Trust, an ETF that tracks LBMA Silver Price (physical silver) at a 0.50% expense ratio. 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.

SLV is issued by iShares and tracks LBMA Silver Price (physical silver), so a single ticker gives you the whole basket of underlying holdings weighted by the index's methodology rather than by any active stock-picking.

SLV does not hold a basket of individual stocks. It gets its exposure synthetically, through derivatives such as swaps and futures rather than by owning the underlying shares, so there is no conventional top-10 equity holdings list. See the description above for what SLV actually tracks and how that exposure is built.

SLV gives you LBMA Silver Price (physical silver) exposure in one ticker at a 0.50% expense ratio. Most investors use it as a core holding and layer more concentrated thematic baskets on top.

Whether SLV is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is SLV a buy?

SLV yields 0% (no dividend) as of mid-2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see SLV dividend: yield and schedule.

GLD holds physical gold and SLV holds physical silver. Gold is more of a pure store-of-value and crisis hedge, while silver carries heavy industrial demand (solar, electronics) that makes SLV more volatile and more tied to the economic cycle. Neither pays income. Read the full side-by-side in GLD vs SLV.