SGDM vs. SLVP: Should Investor Choose a Gold or Silver ETF Right Now? Here's What You Need to Know

Compare how risk, cost, and portfolio focus set these precious metals ETFs apart.The iShares MSCI Global Silver and Metals Miners ETF (SLVP +5.44%) and the Sprott Gold Miners ETF (SGDM +6.53%) both offer targeted exposure to precious metals miners, but they take distinct approaches.SLVP tracks global companies heavily involved in silver and metals mining, while SGDM zeroes in on U.S. and Canadian gold producers. This comparison looks at cost, performance, risk, sector tilts, and liquidity to help investors assess which fund may better match their portfolio needs.Snapshot (cost & size)MetricSLVPSGDMIssueriSharesSprottExpense ratio0.39%0.50%1-yr return (as of Feb. 16, 2026)204.4%154.3%Dividend yield1.56%0.95%Beta (5Y monthly)1.190.73AUM$1.2 billion$731 millionBeta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.SGDM has a slightly higher expense ratio than SLVP, making SLVP the more affordable option in terms of fees. SLVP also offers a higher dividend yield, which may appeal to investors seeking more income from their precious metals allocation.Performance & risk comparisonMetricSLVPSGDMMax drawdown (5 y)-56.18%-49.68%Growth of $1,000 over 5 years$2,533$2,948What's insideSGDM holds 40 companies, with a portfolio entirely in basic materials and a clear emphasis on North American gold miners. Its largest positions include Agnico Eagle Mines, Newmont, and Wheaton Precious Metals, which together account for over a quarter of assets. The fund has an 11-year track record and is non-diversified, so individual company moves can have a significant impact.SLVP also maintains a 100% basic materials focus but tilts toward global silver and metals miners. Top holdings are Hecla Mining, Industrias Peñoles, and Fresnillo, reflecting its international approach and silver orientation. Both funds are unhedged and lack ESG or leverage quirks, but investors should note the different commodity exposures driving each ETF’s performance.For more guidance on ETF investing, check out the full guide at this link.What this means for investorsPrecious metals have long been considered “save haven” investments, and many investors have been flocking to gold and silver ETFs amid concerns around stock market volatility.SGDM and SLVP both focus exclusively on precious metals. While SGDM targets gold mining companies, SLVP focuses on silver.Silver has been more volatile in recent years, as evidenced by SLVP’s higher beta and steeper max drawdown — suggesting more severe price fluctuations. However, it’s also been more lucrative, with substantially higher 12-month total returns than SGDM.Investors seeking greater stability in the precious metals space may prefer SGDM’s focus on gold, especially if silver’s meteoric rise leads to a correction later this year. If silver’s popularity continues, however, SLVP could have much more earning potential going forward.No matter which ETF you choose, double-check that the rest of your portfolio is well-diversified. With gold and silver experiencing explosive returns lately, volatility could increase if precious metals face a pullback.Read NextFeb 14, 2026 •By Adé HennisSLV vs. SGDM: More Direct Silver Exposure or Investing in Gold Mining?Feb 14, 2026 •By Adé HennisAAAU vs. SGDM: Direct Gold Exposure or Gold Mining Companies?Feb 8, 2026 •By Adé HennisIAU and SGDM Both Soar Off Of Gold's Record-Breaking Numbers Feb 5, 2026 •By Will HealyGLD Offers Stability While SGDM Brings Higher Risk RewardAbout the AuthorKatie Brockman is a contributing writer at The Motley Fool covering retirement, Social Security, and investing fundamentals. Prior to The Motley Fool, Katie held various writing and editing roles at companies ranging from small start-ups to multimillion-dollar brands. Her work has appeared in USA Today, Inc magazine, and other authoritative media outlets. She holds a bachelor’s degree in business administration and management from Illinois Wesleyan University.TMFKatieBrockmanStocks MentionedSprott Funds Trust - Sprott Gold Miners ETFNYSEMKT: SGDM$84.78 (+6.53%) $+5.20iShares - iShares Msci Global Silver And Metals Miners ETFNYSEMKT: SLVP$41.64 (+5.44%) $+2.15*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.