First-Year Review
Kurv's silver fund paid $7.70 in year one and still lagged the metal
abrdn Physical Silver Shares ETF
$56.23−0.91 (−1.59%)
- 0.30%
- $4.1B
- +20.3%
- 1.4M sh
- $57.17
- low $43.85high $115.26
The ETF.net SIVR Grade
A
Score 76 out of 100
- 1 of 9
Score 76 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A92 out of 100Rank 1 of 9Mission
Whether the fund did what it promised, tested against its stated mandate.A95 out of 100Rank 2 of 7Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D32 out of 100Rank 7 of 9Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B56 out of 100Rank 4 of 9Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A73 out of 100Rank 2 of 9
Our read on SIVR
ASilver bullion in a vault, wrapped in a ticker. SIVR has done that one job since 2009 at 0.30% a year, half the going rate for physical metal funds, and fee is most of the tracking gap here.
The Trust seeks to track the price of physical silver, after deducting its expenses.
Why people hold it
- 0.30% a year, versus a 0.60% median across physical metal funds and 0.50% at the biggest silver trust, SLV. When the mandate is just holding metal, cost is the differentiator.
- The mandate is one sentence: track the price of physical silver after expenses. Real metal, not futures contracts, swaps, or miner stocks standing in for the metal.
- A multi-billion-dollar trust that trades actively, so entering and exiting is usually a routine order rather than a hunt for the other side.
- Running since 2009 and rated among the strongest implementations in the physical commodity group, on both cost and how closely it delivers its stated mandate.
Worth knowing
- One metal, one price. Silver moves hard in both directions and there is no diversification inside the trust to soften it.
- Bullion generates no cash flow, so this is a price-only holding rather than an income one.
- It is a commodity trust, not a registered 1940 Act fund, so the legal protections and tax treatment differ from a standard stock or bond ETF.
SIVR Holdings
- Other
- 1
- 100%
- Physical Silver
SIVR Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
SIVR$12,027
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | SIVR |
|---|---|
| Year to date | −15.5% |
| 1 month | −6.6% |
| 3 months | +0.8% |
| 1 year | +20.3% |
| 3 years | +39.9% |
| 5 years | +21.3% |
| 10 years | +12.8% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SIVR |
|---|---|---|
| 2026 YTD | −15.5% | |
| 2025 | +145.3% | |
| 2024 | +21.1% | |
| 2023 | −0.9% | |
| 2022 | +2.6% | |
| 2021 | −12.3% | |
| 2020 | +47.5% |
SIVR in the news
Price vs Value
URNJ closed 1.57% below the value of its miners Friday
SIVR Dividends
No distributions in the last 12 months.
SIVR Risk
- 34.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.00
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −52.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.26
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SIVR Cost
0.30%
SIVR0.30%
- The middle half of Physical Commodities funds
- Median 0.60%
No Physical Commodities fund charges less.
Other funds in Physical Commodities
- ASLViShares Silver TrustExpense ratio 0.50%1 year return +19.6%
- BPLTMGraniteShares Platinum TrustExpense ratio 0.50%1 year return +4.8%
- BGLTRabrdn Physical Precious Metals Basket Shares ETFExpense ratio 0.60%1 year return +7.0%
- BYSAGTexas Precious Metals Trust Y'all Street Physical Silver ETFExpense ratio 0.39%1 year return —
- BPPLTabrdn Physical Platinum Shares ETFExpense ratio 0.60%1 year return +4.7%