Best silver ETFs to buy in 2023

Silver is a valuable commodity and silver ETFs are a better way to invest in silver than buying it physically. This page provides a selection of the best silver ETFs this year.
Updated: Oct 11, 2022

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77% of retail CFD accounts lose money.

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Silver will always come a lacklustre second to gold when we compare prices for both metals in the physical market. However, a lesser known fact is that silver ETFs often outperform gold ETFs in the stock market. This beginners’ guide features the best silver ETFs to consider for your portfolio.

What are the top silver ETFs to buy?

Our analysts have selected five of the best ETFs to buy for this year as displayed in the table below. Continue scrolling further to learn more about each.

#ETF symbolETF nameWhere to Trade
1SIVRAberdeen Standard Physical Silver Shares ETF

77% of retail CFD accounts lose money.

2SLViShares Silver Trust ETF

77% of retail CFD accounts lose money.

3DBSInvesco DB Silver Fund ETF

77% of retail CFD accounts lose money.

4AGQProShares Ultra Silver ETF

77% of retail CFD accounts lose money.

5SILGlobal X Silver Miners ETF

77% of retail CFD accounts lose money.

List chosen by our team of analysts, 21 July 2022

1. Aberdeen Standard Physical Silver Shares ETF (NYSEARCA: SIVR)

SIVR is a fund that seeks to track the performance of the price of the silver bullion. The fund’s shares are issued by the Aberdeen Standard Silver ETF Trust and therefore SIVR reflects the price of silver bullion less the trust’s operational expenses. The fund currently holds 44,158 bars worth over 981 million USD. 

The fund’s custodian is well-established and reputed investment bank, JP Morgan and the silver is stored in JP Morgan’s secured vault in London, United Kingdom. It must be noted that since SIVR only holds physical silver, this makes it a hedge against market uncertainty but not the ideal hold option for long-term investors. 

77% of retail CFD accounts lose money.

2. iShares Silver Trust ETF (NYSEARCA: SLV)

SLV is a fund that seeks to correspond with the performance of the price of silver and its only holding is physical silver. The fund currently holds 16,511 tonnes of silver that is worth over 12 billion USD. Investors can be assured that the fund was issued by Blackrock Financial Management, a highly reputed firm.

Investing in SLV can prove ideal for gaining exposure to the day-by-day movement in the price of the silver bullion. With low fees, the fund is also an affordable means of gaining access. You can use SLV to balance diversification in your portfolio and hedge against potential inflation.

77% of retail CFD accounts lose money.

3. Invesco DB Silver Fund ETF (NYSEARCA: DBS)

DBS is a fund that seeks to replicate the DBIQ Optimum Yield Silver Index Excess Return. This index is composed of futures contracts on silver. As such, the fund is intended for investors interested in a cost-effective and convenient means of investing in commodity ETFs

Commodity futures are a highly speculative investment and therefore, the fund is not suited for risk averse investors. Investing in futures is volatile and can  result in large losses for new investors. Though if you are a seasoned investor with a risk appetite, then there is potential for high reward when investing in DBS.

77% of retail CFD accounts lose money.

4. ProShares Ultra Silver ETF (NYSEARCA: AGQ)

AGQ is a fund that is based on two times the daily performance of the Bloomberg Silver SubindexSM. The fund deals with any or the combination of swap agreements, futures contracts, forward contracts, and option contracts. Therefore, AGQ does not directly invest in silver.

The fund is not intended for long-term investors with low risk appetites. AGQ engages with highly volatile and risky financial instruments. The fund is designed to be a short-term hold for seasoned investors who can actively stay on top of their investment.

77% of retail CFD accounts lose money.

5. Global X Silver Miners ETF (NYSEARCA: SIL)

SIL is a fund that seeks to replicate the performance of the Solactive Global Silver Miners Total Return Index. Unlike the aforementioned ETFs, the fund provides investors with access to a broad range of silver mining companies through its current 41 holdings. With a single trade of SIL, you gain a targeted play on silver mining.

Since SIL intends to reflect the performance of the silver mining industry, the mid to large cap companies in its holdings are actively engaged in some aspect of the industry: mining, refining, or exploration.When considering SIL for your portfolio, you must do your own due diligence to hedge against the risk of the fund’s small number of holdings.

77% of retail CFD accounts lose money.

Where to buy the best silver ETFs

Registering with an online broker to invest in ETF. ETFs are like individual stocks, you can buy or sell them as you wish. The table below features our preference of the best brokers that offer silver ETFs.

Min. Deposit
$ 10
Best offer
User Score
Up to $240 bonus!
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:

77% of retail CFD accounts lose money.

Min. Deposit
$ 0
Best offer
User Score
Get insights from millions of investors, creators, and analysts
Build your portfolio of stocks, ETFs, and crypto–all in one place
No minimum deposit
Start Trading
Payment Methods:
Bank Wire, Check, Debit Card, Wire Transfer
Full Regulations:
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.
Min. Deposit
$ 100
Best offer
User Score
Trade out-of-hours on over 70+ US stocks
Get exposure to a wide range of popular UK, US and international stocks
Enjoy flexible access to more than 17,000 global markets, with reliable execution
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal
Full Regulations:
ASIC, FCA, FINMA, is a licensed bank (IG Bank in Switzerland)
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

What is a silver ETF?

In its most traditional format, it is an exchange traded fund that holds physical silver in trust by the fund manager or custodian. When you invest in a silver ETF that holds physical silver, each share is representative of a particular quantity of silver. 

Other types of silver ETFs include: ETFs that hold financial instruments engaged with the performance of the price of silver as well as ETFs that hold shares in companies that operate in the silver mining industry. There are many ways of investing in silver and silver ETFs can offer as direct or indirect an investment as you prefer.

Are silver ETFs a good investment?

In a nutshell: yes. The type of silver ETF you opt for is dependent on your budget and consequent risk appetite. For instance, ETFs that hold physical silver offer investors more affordable exposure to the precious metal than investing in it directly. These ETFs are not suited for long-term investors but can prove to be a hedge against inflation in periods of market uncertainty. 

Whereas, investors with higher risk appetite seeking a short-term return should opt for ETFs that hold financial instruments dealing with the performance of the price of silver. Then there are silver ETFs that hold shares in companies that operate in the silver mining industry. These offer new investors ancillary, less risky access to the market. 

Therefore, different types of silver ETFs correspond to different levels of risk depending on their holdings and the nature of those holdings and you must do your own due diligence to decide on the best investment for your portfolio. You can use the links below to stay on top of the industry and best place your investment in silver ETFs.

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Sources & references
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Srijani Chatterjee
Financial Writer
Srijani is the quintessential Third Culture Kid having grown up in India, Singapore, Malaysia, The Netherlands, Scotland, and England. She still loves to travel and speaks… read more.