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While iShares MSCI Global Silver and Metals Miners ETF (NYSEMKT:SLVP) offers a lower cost and higher yield, VanEck Gold Miners ETF (NYSEMKT:GDX) provides more liquid exposure to the global gold industry.
Investors seeking exposure to precious metals may look to these ETFs as leveraged plays on the price of bullion. These funds provide diversified access to companies extracting metals, which may react more sharply to market fluctuations than the underlying physical commodities themselves.
Beta measures price volatility relative to the S&P 500; beta is calculated from monthly returns over the available fund history (up to five years). The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.
iShares MSCI Global Silver and Metals Miners ETF is more affordable with a 0.39% expense ratio compared to 0.51% for VanEck Gold Miners ETF. The iShares fund also provides a significantly higher payout for income-seeking investors.
VanEck Gold Miners ETF focuses on the global gold mining industry, holding 57 stocks exclusively within the basic materials sector. Its largest positions include Newmont Corp (NYSE:NEM) at 11.23%, Agnico Eagle Mines Ltd (NYSE:AEM) at 11.16%, and Barrick Mining Corp (NYSE:B) at 7.88%. It was launched in 2006. VanEck Gold Miners ETF has paid $0.63 per share over the trailing 12 months, which on its recent ~$89.3 share price works out to a 0.7% yield.
iShares MSCI Global Silver and Metals Miners ETF holds 36 stocks and does not report a specific sector breakdown, although it concentrates on companies involved in silver and other metal mining. Top holdings include Hecla Mining (NYSE:HL) at 14.39%, Indust Penoles at 11.49%, and First Majestic Silver (TSX:AG) at 10.25%. It was launched in 2012. iShares MSCI Global Silver and Metals Miners ETF has paid $0.70 per share over the trailing 12 months, which, on its recent ~$35.2 share price, works out to a 2% yield.
For more guidance on ETF investing, check out the full guide at this link.
There's no denying that precious metals often serve as portfolio insurance, although neither guarantees prices will rise. Between SLVP and GDX, it's a matter of deciding which best fits your goals. For example:
You expect silver to outperform gold. Silver has substantial industrial uses, tying its outlook more to economic and technology trends than gold's. If you anticipate stronger industrial demand for silver than gold, iShares MSCI Global Silver and Metal Miners ETF is likely to be a better fit.
You can tolerate dramatic swings. SLVP could fit perfectly into your portfolio if you're comfortable with the way silver's industrial sensitivity can magnify big moves in either direction. In other words, if you accept SLVP's higher-risk, higher-upside potential, it could be your best bet.
You seek a lower expense ratio. iShares lists SLVP's expense ratio at 0.39%; VanEck lists GDX's gross expense ratio at 0.51%. While fees can change over time, SLVP currently lets you put more money directly into your investment.
A gold-miner tilt is important to you. Gold's demand is more broadly distributed and less dependent on industrial needs. Because of this broad distribution, gold tends to be a steadier precious metal than silver.
Your outlook is more defensive. If you expect investors to favor gold during market downturns, GDX may fit more neatly into your portfolio as a hedge against market stress.
You prioritize a larger, more established fund. Recent data shows GDX is substantially larger than SLVP, which may affect trading liquidity.
If you're bullish on silver relative to gold and accept greater cyclical risk, choose SLVP. If you want gold-miner exposure and a more defensive precious-metal tilt, choose GDX.
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iShares SLVP vs VanEck GDX: Which Miners ETF Wins was originally published by The Motley Fool
