ETF Comparison

GLD vs SLV: Which Is the Better Pick in 2026?

A head-to-head comparison of SPDR Gold Shares and iShares Silver Trust covering yield, cost, risk, and income potential.

Data updated July 4, 2026

State Street

ETFs182

Total AUM$2107B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on GLD.

See all State Street ETFs

iShares

ETFs481

Total AUM$4451B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on SLV.

See all iShares ETFs

Side-by-side snapshot

	GLD	SLV
Full name	SPDR Gold Shares	iShares Silver Trust
Issuer	State Street	iShares
Last Close	$378.13 as of July 4, 2026	$55.02 as of July 4, 2026
Distribution yield	0.00%	0.00%
Distribution Safety Score	—	—
Expense ratio	0.40%	0.50%
AUM	$136B	$35.1B
Distribution frequency	None	None
Underlying index	Gold bullion spot price	Silver bullion spot price
Objective	Reflect the performance of the price of gold bullion less trust expenses.	Reflect the performance of the price of silver bullion less trust expenses.
Asset class	Commodity	Commodity
Inception date	11/18/2004	04/21/2006
Beta	0.16	0.88

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Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

GLD has lagged SLV over the trailing twelve months, posting a 22.95% total return against 68.10%. The picture flips over 10 years, though — GLD has compounded at 11.40% a year, ahead of SLV at 11.37%. GLD has been the steadier holding, though — annualized volatility of 20.7% against 43.4% for SLV. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	3Y	5Y	10Y	Since Apr 2006	Volatility	Sharpe	Sortino	Max drawdown
GLD	-5.06%	22.95%	28.46%	17.86%	11.40%	9.11%	20.7%	1.00	1.37	-26.2%
SLV	-16.32%	68.10%	37.87%	17.93%	11.37%	7.09%	43.4%	0.64	0.82	-51.0%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Apr 2006” measures every fund from April 28, 2006 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

GLD (SPDR Gold Shares) and SLV (iShares Silver Trust) are both none-pay ETFs, but they take different approaches.

GLD is cheaper with an expense ratio of 0.40% compared to 0.50%.

They track different benchmarks: GLD is linked to Gold bullion spot price while SLV tracks Silver bullion spot price, which means their performance drivers differ.

GLD is the larger fund by assets ($136B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, GLD has no reported distribution yield yet, so a monthly income estimate is not available, while SLV has no reported distribution yield yet, so a monthly income estimate is not available, at current distribution rates. Both pay none distributions.

GLD yield0.00%

SLV yield0.00%

Cost & efficiency

Over 10 years on $10,000, GLD would cost approximately $400 in fees vs $500 for SLV (simplified, not compounded). The $100.00 difference may be offset by yield or performance.

GLD ER0.40%

SLV ER0.50%

Strategy & risk

GLD tracks Gold bullion spot price with a metals approach, while SLV tracks Silver bullion spot price with a metals approach. Beta is 0.16 for GLD and 0.88 for SLV, indicating GLD is less volatile relative to the market.

GLD beta0.16

SLV beta0.88

Fund details

GLD is managed by State Street (launched 11/18/2004) with $136B in assets. SLV is managed by iShares (launched 04/21/2006) with $35.1B in assets.

GLD AUM$136B

SLV AUM$35.1B

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Frequently asked questions

Which of GLD or SLV pays more dividend income?

SLV currently reports a distribution yield, while GLD has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.

What is the difference between GLD and SLV?

GLD (SPDR Gold Shares) tracks Gold bullion spot price with a metals approach, while SLV (iShares Silver Trust) tracks Silver bullion spot price with a metals approach. They are issued by State Street and iShares respectively.

Can I hold both GLD and SLV?

Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

Which has lower fees, GLD or SLV?

GLD has an expense ratio of 0.40% while SLV charges 0.50%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in GLD vs SLV generate?

At current rates, GLD has not established a distribution history yet, so a monthly income estimate is not available. SLV has not established a distribution history yet, so a monthly income estimate is not available.

Which has performed better historically, GLD or SLV?

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GLD vs SLV — at a glance

Generated July 2026 from current fund data.

Overview

GLD and SLV are commodity ETFs that track the spot price of physical gold and silver bullion, respectively. Both charge minimal fees to hold the underlying metal, but they differ meaningfully in volatility, size, and beta—GLD is roughly four times larger and far less volatile, while SLV swings more sharply with broader risk appetite and carries a higher expense ratio.

How they differ

The largest distinction is volatility: GLD has a beta of 0.16, meaning it moves only a fraction as much as the broader market, while SLV's beta of 0.88 indicates it swings nearly in line with equity risk. This stems from silver's dual nature as both a precious metal and an industrial commodity—industrial demand varies with economic cycles, whereas gold is primarily a store of value. GLD also dwarfs SLV in asset base ($136B versus $35.1B), translating to tighter bid-ask spreads and deeper liquidity. The expense ratio difference is small in absolute terms (0.40% for GLD versus 0.50% for SLV), but compounds over decades of holding. Neither fund distributes income; both are pure price-appreciation vehicles with no yield component.

Who each is best for

GLD: Fits investors seeking a stable, liquid hedge against currency or equity-market weakness—the low beta and massive liquidity make it suitable for defensive or core precious-metals allocations.

SLV: Fits investors comfortable with higher volatility and seeking exposure to the intersection of precious-metals and industrial-demand cycles—better suited to tactical or cyclically-tilted precious-metals positions.

Key risks to know

Silver's industrial-demand sensitivity: SLV's higher beta reflects that silver prices are driven partly by electronics, solar, and manufacturing activity. Economic downturns can depress silver significantly more than gold, creating timing risk for cyclical investors.

Gold's low correlation can disappoint during risk-off episodes: While GLD's low beta seems defensive, gold's actual behavior during acute financial crises varies; it sometimes rallies sharply, sometimes underperforms. The historical 0.16 beta masks this tail-risk variability.

Storage and financing costs embedded in price: Both funds hold physical metal with associated custodial and insurance costs. These are reflected in the expense ratio and the difference between the fund's net asset value and the bullion spot price, which can widen in illiquid market conditions.

Currency exposure: Both funds are priced in USD; a stronger dollar headwind can suppress bullion prices independently of real supply/demand, especially for international investors.

Bottom line

If you want a defensive, highly liquid precious-metals position with minimal volatility, GLD's scale and low beta stand out. If you're comfortable with greater price swings and believe industrial demand will drive returns, SLV's higher beta exposure may appeal. Neither generates income, so both suit long-term holders seeking a store of value or inflation hedge rather than income investors. Past performance doesn't predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.