PSLV CEF — Sprott Physical Silver Trust

Sprott Physical Silver Trust (PSLV)

PSLV is a low-cost CEF that tracks the Silver. Fund total return is 117.5% over the past 15.8 years, 640.3 points behind SPY at 757.8%.

Sprott Physical Silver Trust is a closed-end fund that holds physical silver bullion in London Good Delivery bar form, providing investors with a convenient exchange-traded way to gain exposure to silver as a commodity. The trust does not make regular distributions to shareholders. This fund appeals to investors seeking direct exposure to silver prices without the complications of purchasing and storing physical bullion themselves.

PSLV performance versus SPY

Data as of August 28, 2026.

Fund total return is 117.5% over the past 15.8 years, 640.3 points behind SPY at 757.8%. Its deepest 1-year drawdown was 50.8%.

PSLV key facts

Data as of August 28, 2026.

Issuer

Sprott

Asset type

CEF

Asset class

Commodity

Inception date

10/27/2010

Distribution frequency

None

Last close

$21.84

Market cap

$14,216,538,112

Average volume

14446153.0

Beta

0.8

Payout ratio

0.0

P/E ratio

2.6533

Forward P/E

0.0

EPS

$14.48

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 28, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 28, 2026.

Primary sources: Sprott fund page; Index: Silver; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

PSLV risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 50.8%.

Who may consider PSLV — and who may not

PSLV may suit someone looking for low-cost broad dividend exposure. It is a weaker fit for investors who need monthly cash flow (PSLV does not currently distribute); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Compare PSLV

PSLV vs similar funds:

• PSLV vs SLV

Frequently asked questions

More funds from Sprott.