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Sunday, August 23, 2026The Morning Brief →Sign in

Global X Silver Miners ETF

$99.55+2.14% today
5511852-WK

The fund invests at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the underlying index. The underlying index is designed to measure broad-based equity market performance of global companies involved in the silver mining industry. The fund is non-diversified.

Price & daily flows
104.586.568.599.55DAILY NET FLOWAug 25Dec 19Apr 21Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN

The desk’s read

Flows are quiet — the past month netted out near zero, while the price has returned +19.9% so far this year. At 0.65% a year it is not the cheapest way in — XLE runs the same ground at 0.09%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$1.1Bassets under management
0.65%expense ratio · $65 per $10,000 a year
net flow, trailing month
1.3Mavg daily volume, 30 days
33holdings · US-domiciled
2010listed April 18, 2010 · beta 2.07
The book at a glance
WPM+5.0%PAAS+2.2%CDE-0.7%HL-0.5%AG-0.5%SSRM+2.6%OR+2.3%BVN+3.8%AYA-1.0%EXK-3.2%SVM-0.9%TFPM+1.5%VZLAUSAHYMCASMPE&OLES*4.5%FRES4.2%DSV3.2%0101302.3%FVI2.0%HOC1.4%ABRA

CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS TODAY’S MOVE · TOP 40 POSITIONS

HoldingsDownload CSV
#HoldingWeightPriceDay52-wk
1WPMWHEATON PRECIOUS METALS23.24%$157.78+5.0%
2SLVRSprott Silver Miners & Physical Silver ETF0.23%$63.55+0.7%
3BRCBRADY0.15%$91.29+0.6%
4USLUNITED STATES 12 MONTH OIL FUND LP0.17%$52.88+0.4%
5PAASPAN AMERICAN SILVER11.38%$53.07+2.2%
6CDECOEUR MINING11.30%$20.97-0.7%
7HLHECLA MINING5.15%$20.72-0.5%
8AGFIRST MAJESTIC SILVER4.76%$21.09-0.5%
9SSRMSSR MINING4.17%$37.77+2.6%
10SCZISHARES MSCI EAFE SMALL-CAP ETF0.47%$86.60+0.7%
11OROSISKO GOLD ROYALTIES3.73%$36.09+2.3%
12BVNBUENAVENTURA MINING CO3.55%$35.47+3.8%
13AYAAYA GOLD & SILVER INC2.08%$26.65-1.0%
14EXKENDEAVOUR SILVER1.83%$10.62-3.2%
15SVMSILVERCORP METALS1.51%$12.53-0.9%

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Sector weights
Non-Energy Minerals100.01%
Basic Materials100%
Materials100%
Other22.07%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Country weights
Canada64.08%
United States12.97%
Mexico7.81%
Peru6.34%
South Korea5.29%
Korea (the Republic of)4.59%
Korea, Republic of3.41%
United Kingdom2.72%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week+9.7%
1 month+32.0%
3 months+13.0%
6 months-3.6%
YTD+19.9%
1 year+79.9%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week
1 month
3 months
YTD
1 year

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

Monthly net flows
SepOctNovDecJanFebMarAprMayJunJulAug
DAILY CREATION/REDEMPTION RECORDS, TRAILING TWELVE MONTHS
The risk read
54%realized volatility, 30 days (annualized)
56%realized volatility, 1 year
-39.5%deepest fall from a peak, 1 year
-15.7%where it sits vs. that peak today

The top holding is 23.2% of the book; the top ten carry 76%. Spread across 40+ names, it behaves like roughly 10 equally-weighted positions.

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
7Kcalls today
4Kputs today
0.57put/call ratio
2.3Mshares traded
Most-traded holdings, options premiumBullishBearish
HL HECLA MINING$7M$3M
WPM WHEATON PRECIOUS METALS$6M$4M
CDE COEUR MINING$4M$4M
PAAS PAN AMERICAN SILVER$3M$4M
AG FIRST MAJESTIC SILVER$3M$4M

TODAY’S OPTIONS PREMIUM IN THE FUND’S UNDERLYING NAMES

The case against SIL

Due diligence cuts both ways. These funds sit on the same shelf and beat SIL on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
IDEV iShares Core MSCI International Developed Markets ETF0.04%$32.7B+$104M-61bp on fee · 30× the assets · +$104M in over the monthHead-to-head
IEFA iShares Core MSCI EAFE ETF0.07%$193.2B+$631M-58bp on fee · 175× the assets · +$631M in over the monthHead-to-head
IEMG iShares Core MSCI Emerging Markets ETF0.09%$160.6B+$1.9B-56bp on fee · 146× the assets · +$1.9B in over the monthHead-to-head
IAGG iShares Core International Aggregate Bond ETF0.07%$11.4B+$739M-58bp on fee · 10× the assets · +$739M in over the monthHead-to-head
IXUS iShares Core MSCI Total International Stock ETF0.07%$46.2B-58bp on fee · 42× the assetsHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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