Which returned more over the last year, SLV or SPYD?

In the year to Oct 28, 2026, with distributions reinvested, SLV returned +14.9% and SPYD +15.3%.

Which is cheaper, SLV or SPYD?

SPYD is cheaper, by 0.43 percentage points a year. That is about $43 on $10,000 held for a year. Fees come from each fund's own filings.

Data as of Oct 28, 2026.

Across categories

SLV vs SPYD: Differences, Returns & Fees

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SLV is a commodity fund and SPYD an equity index fund, and over the year to Oct 28, 2026, SPYD returned +15.3% against +14.9%.

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Net assets: $26.9bn on Oct 28, 2026 for iShares Silver Trust, and $7.5bn on Oct 27, 2026 for State Street SPDR Portfolio S&P 500 High Dividend ETF.

SLV on its own →SPYD on its own →

At a glance

+14.9%

SLV total return, 1 year

+15.3%

SPYD total return, 1 year

0.50%

SLV expense ratio

0.07%

SPYD expense ratio

Pair scorecard

SPYD costs 0.43 points a year less; their one-year returns differ by 0.4 points; SLV is 3.5 times larger.

SLV vs SPYD: Differences, Returns & Fees
Measure	SLV	SPYD
Return
Measure	SLV	SPYD
Total return, 1 year	+14.9%	+15.3%
Drawdown
Measure	SLV	SPYD
Below its high	53.5%, high on Jan 28, 2026	4.1%, high on Aug 24, 2026
Benchmark
Measure	SLV	SPYD
What it tracks	Silver	S&P 500 High Dividend Index
Cost and size
Measure	SLV	SPYD
Expense ratio	0.50%	0.07%
Net assets, as of Oct 27, 2026	$26.5bn	$7.5bn
Holdings
Measure	SLV	SPYD
Holdings in common	not published
In the S&P 500, by weight		99%
Top ten holdings, share of the fund		16.1%

Method

Risk and return

Oct 30, 2015 to Oct 23, 2026 · 573 weekly returns

SLV SPYD

Return

Total return edge SLV +229.2% +168.7%

Annualized edge SLV +11.4% +9.4%

Price return edge SLV +229.2% +61.3%

Risk

Volatility edge SPYD 30.7% 19.6%

Max drawdown edge SPYD (slight) −47.6% −43.0%

Risk-adjusted

Sharpe edge Tie 0.43 0.44

Sortino edge SLV (slight) 0.64 0.62

Calmar edge SLV (slight) 0.24 0.22

Reading

SLV returned more: +229.2% to +168.7%. SPYD swung less: 19.6% to 30.7%. SPYD fell slightly less at its worst: −43.0% to −47.6%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: SLV vs SPYD: Differences, Returns & Fees
Measure	SLV	SPYD	Edge	How it is measured
Return
Total return	+229.2%	+168.7%	SLV	Price change plus distributions, reinvested.
Annualized	+11.4%	+9.4%	SLV	Total return as a yearly rate.
Price return	+229.2%	+61.3%	SLV	Price change alone, distributions left out.
Risk
Volatility	30.7%	19.6%	SPYD	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	20.6%	13.8%	SPYD	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−47.6%	−43.0%	SPYD (slight)	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.43	0.44	Tie	Return above Treasury bills per unit of volatility.
Sortino	0.64	0.62	SLV (slight)	Return above Treasury bills per unit of downside deviation.
Calmar	0.24	0.22	SLV (slight)	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 573 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

SLV iShares Silver Trust SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF

Where it sits Commodity ETF Stock ETF

Issuer iShares State Street

What it is Holds silver Tracks the S&P 500 High Dividend

Total return, 1 year +14.9% +15.3%

Its benchmark over the same days +15.0% (SIVR) not measured

Gap to its benchmark −0.1 pts vs SIVR not measured

Expense ratio 0.50% 0.07%

Holdings not counted 79

Net assets, SLV as of Oct 28, 2026 and SPYD as of Oct 27, 2026 $26.9bn $7.5bn

SLV and SPYD on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-71BD3FFC6B

SLV and SPYD do different jobs. What does each one do in a portfolio?

What each follows. SLV follows Silver and SPYD follows S&P 500 High Dividend Index.
Cost. SLV charges 0.50% of assets a year and SPYD 0.07%, a gap of 0.43 points.
Size. SLV has $26.5bn in net assets and SPYD $7.5bn (net assets, as of Oct 27, 2026); SLV is 3.5 times larger.

Data as of Oct 28, 2026.

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About each fund

SLV

Its expense ratio is 0.50% a year, for the three months to Jun 30, 2026, as its 10-Q states.

SLV holds silver. Over the year to Oct 28, 2026 it returned +14.9% with distributions reinvested, against +15.0% for its benchmark, the price of silver. It sat 53.5% below its high of Jan 28, 2026 on Oct 28, 2026.

SPYD

SPYD tracks the S&P 500 High Dividend. Over the year to Oct 28, 2026 it returned +15.3% with distributions reinvested. The prospectus expense ratio is 0.07% a year. By its holdings published by its issuer for Oct 27, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 79 positions, with the top ten at 16.1%. It sat 4.1% below its high of Aug 24, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, SLV or SPYD?: In the year to Oct 28, 2026, with distributions reinvested, SLV returned +14.9% and SPYD +15.3%.
Which is cheaper, SLV or SPYD?: SPYD is cheaper, by 0.43 percentage points a year. That is about $43 on $10,000 held for a year. Fees come from each fund's own filings.

Other comparisons

SLV vs VLUE FDVV vs SLV HDV vs SLV SLV vs SPHD GLD vs SPYD BWET vs SPYD GLDM vs SPYD IAU vs SPYD

Where to next

SLV on its own →SPYD on its own →Hold both: look the portfolio through →Rankings →SPYD dividend history →SPYD holdings →Standards and sources →

Sources and dates

iShares page for SLV ↗

SPYD filings on SEC EDGAR ↗

SPYD prospectus with the expense ratio (SEC) ↗

State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, SLV against SPYD, data as of Oct 28, 2026. https://etfiq.com/compare/any/slv-vs-spyd

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