GET DAILY SIGNALSSGDM vs SLVP: Weighing Gold and Silver Miners ETFs
Key Takeaways
- SGDM is a rules-based, quality-factor gold miners fund, while SLVP is a market-cap-weighted silver and metals miners fund — they share the precious-metals complex but target different metals and risk profiles.
- SGDM emphasizes larger gold companies with strong revenue growth, high free cash flow yield, and low long-term debt; SLVP weights holdings purely by market capitalization, leaving it more concentrated at the top.
- SLVP is slightly cheaper at a 0.39% expense ratio versus SGDM's 0.46%, but SGDM offers broader diversification and a larger-cap, lower-beta tilt.
- Both funds are dominated by basic-materials equities, but SLVP carries heavier single-name and single-country risk, led by HL and Mexican producers.
- Tickeron AI Verdict: SGDM is the favored ticker, reflecting superior diversification, a quality-factor screen, and more balanced precious-metals exposure.
Why These Precious-Metals ETFs Matter
Precious-metals miners have drawn sustained investor attention across recent market cycles as a hedge against inflation, currency debasement, and geopolitical uncertainty. Within this space, the Sprott Gold Miners ETF and the iShares MSCI Global Silver and Metals Miners ETF are frequently compared, yet they are not direct substitutes. SGDM concentrates on gold producers using a factor-based quality screen, while SLVP targets silver-focused miners on a market-cap basis. Understanding their structural differences — holdings, weighting methodology, costs, and concentration — is essential for investors weighing sector exposure and relative positioning in an ETF comparison. I also checked sector peers using Tickeron’s AI Screener to confirm the key distinctions.
Sprott Gold Miners ETF (SGDM) at a Glance
The Sprott Gold Miners ETF is a passively managed fund that seeks to track the Solactive Gold Miners Custom Factors Index. Rather than weighting companies purely by size, the index applies a transparent, rules-based methodology designed to favor larger gold companies with the highest revenue growth, highest free cash flow yield, and lowest long-term debt-to-equity ratio. The index is reconstituted quarterly to reflect the companies with the strongest factor scores.
The fund holds roughly 51 securities and is classified as non-diversified. Its portfolio is anchored by AEM (Agnico Eagle), GOLD (Barrick), NEM (Newmont), WPM (Wheaton Precious Metals), and FNV (Franco-Nevada), with gold and precious-metals miners representing effectively 100% of the portfolio. The top 10 holdings account for roughly 55% of assets, a moderately concentrated but comparatively balanced profile. SGDM carries a net expense ratio of 0.46% and is heavily weighted toward Canadian-domiciled companies, which make up around three-quarters of the fund. From what I see, the quality screen adds a layer of discipline that stands out in this space.
iShares MSCI Global Silver and Metals Miners ETF (SLVP) at a Glance
The iShares MSCI Global Silver and Metals Miners ETF is a passively managed fund tracking the MSCI ACWI Select Silver Miners IMI Index, a market-capitalization-weighted benchmark of global companies that earn the majority of their revenue from silver mining. Unlike SGDM, it applies no quality or factor screen — weightings rise and fall primarily with company size.
The fund holds approximately 49 securities, but its capital is more concentrated at the top. HL (Hecla Mining) is the largest position at roughly 14% of assets, followed by Industrias Peñoles, First Majestic Silver, and Fresnillo. The top 10 holdings represent about 70% of the portfolio, and the top three alone account for over one-third. Mexico is the largest geographic exposure, contributing more than half of assets. SLVP charges a net expense ratio of 0.39% and is listed on the Cboe BZX Exchange. Its structure exposes investors to meaningful single-name and single-country concentration risk relative to SGDM.
Industry and Thematic Backdrop
Both ETFs operate within the broader precious-metals mining complex, which has been shaped in recent cycles by shifting interest-rate expectations, a weakening U.S. dollar at times, and persistent demand for hard assets. Gold miners tend to benefit from safe-haven flows and producer margin expansion when bullion prices rise, while silver miners carry a dual identity — silver is both a monetary metal and an industrial input used in solar panels, electronics, and electrification. I’m watching this closely because the industrial angle adds a different layer of sensitivity.
This industrial component gives SLVP a higher-beta, more cyclical profile than SGDM. Conversely, gold's role as a reserve asset lends SGDM a steadier demand base. Regulatory developments in key mining jurisdictions, particularly Mexico and Canada, and capital discipline among major producers are additional factors influencing the sector's earnings cycles and fund performance.
Performance and Positioning Comparison
Across recent months, precious-metals miners have shown elevated volatility, with silver-focused equities generally exhibiting larger swings than their gold-focused peers. This reflects silver's dual industrial and monetary demand, which makes SLVP more sensitive to manufacturing data and global growth expectations. SGDM, by contrast, has demonstrated more moderate relative positioning, consistent with its larger-cap tilt and quality-factor screen that filters for stronger balance sheets and cash-flow generation.
The two funds also differ in concentration dynamics. SLVP's outsized weight in HL and Mexican producers means single-stock and single-country news flow can move the fund disproportionately. SGDM spreads risk more evenly across major gold producers and royalty companies, which historically trade with lower beta. These structural traits — rather than isolated daily moves — explain much of the divergence in recent relative positioning and volatility between the two ETFs.
Exploring AI Tools for ETF Analysis
When comparing funds like these, I often turn to Tickeron’s AI Screener to quickly filter holdings by factors such as revenue growth and debt levels. It helps confirm how SGDM’s quality tilt stacks up against more concentrated peers. The tool also surfaces comparable ETFs and highlights trend signals that align with the structural differences outlined above, making it a practical step in my research process.
Tickeron AI Verdict
Weighing structural strength, cost efficiency, diversification, trend consistency, and risk exposure, Tickeron's AI would likely favor SGDM over SLVP at present. While SLVP offers a marginally lower expense ratio and higher potential upside from silver's industrial demand, its pronounced single-name concentration — particularly in HL — and heavy single-country exposure introduce meaningful idiosyncratic risk. SGDM, by comparison, combines a broader, more balanced portfolio with a rules-based quality screen that favors companies with stronger revenue growth, free cash flow yield, and lower leverage. This structurally lower-risk, quality-oriented profile supports a more consistent relative positioning for investors seeking precious-metals exposure through a diversified, factor-driven vehicle.
Disclaimer
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SLVP sees its Stochastic Oscillator ascending out of oversold territory
On November 04, 2026, the Stochastic Oscillator for SLVP moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 63 instances where the indicator left the oversold zone. In 59 of the 63 cases the stock moved higher in the following days. This puts the odds of a move higher at over 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where SLVP's RSI Indicator exited the oversold zone, 24 of 27 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 89%.
The Momentum Indicator moved above the 0 level on November 05, 2026. You may want to consider a long position or call options on SLVP as a result. In 68 of 75 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 90%.
The Moving Average Convergence Divergence (MACD) for SLVP just turned positive on November 05, 2026. Looking at past instances where SLVP's MACD turned positive, the stock continued to rise in 45 of 49 cases over the following month. The odds of a continued upward trend are 90%.
Following a +3.98% 3-day Advance, the price is estimated to grow further. Considering data from situations where SLVP advanced for three days, in 286 of 309 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
SLVP may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The 10-day moving average for SLVP crossed bearishly below the 50-day moving average on October 02, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 11 of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 85%.
The 50-day moving average for SLVP moved below the 200-day moving average on October 30, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SLVP declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 87%.
The Aroon Indicator for SLVP entered a downward trend on November 05, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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