A head-to-head of Sprott Physical Silver Trust and the iShares Silver Trust covering structure, cost, and how you own the bullion.
Data updated September 4, 2026
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
PSLV has lagged SLV over the trailing twelve months, posting a 56.57% total return against 60.20%. The lead holds up over 10 years too: SLV has compounded at 12.13% a year, against 10.92% for PSLV. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Oct 2010” measures every fund from October 29, 2010 — 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.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Bottom lineWe won't call this one: we have neither a distribution rate nor an expense ratio for PSLV. Compare the strategy, cost and holdings in the sections above and treat any performance figures for the newer security as provisional.
PSLV vs SLV: two silver wrappers
Same metal, two structures. PSLV is a Sprott closed-end physical trust. SLV is the iShares silver trust. Neither pays income.
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.
PSLV (Sprott Physical Silver Trust) is a closed-end fund, while SLV (iShares Silver Trust) is an ETF — their trading structures differ.
They have different reference exposures: PSLV is linked to Silver while SLV is linked to Silver bullion spot price, which means their performance drivers differ.
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On a $10,000 investment, PSLV 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.
PSLV yield—
SLV yield—
Cost & efficiency
SLV charges a 0.50% expense ratio — roughly $500 over 10 years on $10,000 (simplified, not compounded). PSLV has not published an expense ratio, so a direct cost comparison isn't possible.
SLV ER0.50%
Strategy & risk
PSLV tracks Silver with a metals approach, while SLV tracks Silver bullion spot price with a metals approach. Beta is 0.8 for PSLV and 1.11 for SLV, making PSLV the less volatile of the two by this measure.
PSLV beta0.8
SLV beta1.11
Fund details
PSLV is managed by Sprott (launched 10/27/2010). SLV is managed by iShares (launched 04/21/2006) with $32.0B in assets.
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Frequently asked questions
What is the difference between PSLV and SLV?
Both hold silver, not silver miners. PSLV (Sprott Physical Silver Trust) is a Sprott closed-end physical trust. SLV (iShares Silver Trust) is the iShares silver trust. Neither pays a distribution. Cost is — versus 0.50%; size is — versus $32.0B as of September 2026. Structure and how you own the metal are the decision, not a yield race.
Which of PSLV or SLV pays more dividend income?
SLV currently reports a distribution yield, while PSLV 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.
Can I hold both PSLV and SLV?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, PSLV or SLV?
SLV charges a 0.50% expense ratio. PSLV has not published an expense ratio, so a direct fee comparison isn't possible.
How much income does $10,000 in PSLV vs SLV generate?
At current rates, PSLV 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, PSLV or SLV?
PSLV has lagged SLV over the trailing twelve months, posting a 56.57% total return against 60.20%. The lead holds up over 10 years too: SLV has compounded at 12.13% a year, against 10.92% for PSLV. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
Both track the silver spot price, but their mechanics—CEF discount/premium dynamics versus ETF creation/redemption transparency—produce different total-return profiles and fee structures.
Who each is best for
PSLV: Investors focused on direct physical silver ownership and willing to accept CEF pricing dynamics (discount or premium to NAV) in exchange for Sprott's allocated-bar custody model and transparency into specific bar serial numbers.
Key risks to know
CEF discount/premium volatility (PSLV):PSLV's price can trade materially above or below its NAV depending on investor demand and sentiment, disconnecting the security's value from the underlying silver spot price in the short term. Long periods at a discount can penalize exit timing for shareholders. Political or regulatory disruption to those locations or institutions could constrain redemption or withdrawal mechanics, though both structures have legal segregation and insurance. Over long holding periods, this drag compounds and may exceed ETF expense costs if silver prices remain stable. If you value direct physical ownership with allocated bar custody and don't mind navigating CEF discount/premium cycles, PSLV's model appeals to longer-term holders skeptical of centralized custodians. Neither structure guarantees returns; silver remains a volatile commodity, and past performance does not predict future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
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