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

In the year to Oct 28, 2026, with distributions reinvested, SLV returned +14.9% and VOE +22.8%.

Which is cheaper, SLV or VOE?

VOE is cheaper, by 0.45 percentage points a year. That is about $45 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 VOE: Differences, Returns & Fees

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SLV is a commodity fund and VOE an equity index fund, and over the year to Oct 28, 2026, VOE returned +22.8% against +14.9%.

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Net assets: $26.9bn on Oct 28, 2026 for iShares Silver Trust, and $22.8bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap Value ETF.

SLV on its own →VOE on its own →

At a glance

+14.9%

SLV total return, 1 year

+22.8%

VOE total return, 1 year

0.50%

SLV expense ratio

0.05%

VOE expense ratio

Pair scorecard

VOE costs 0.45 points a year less; their one-year returns differ by 7.9 points; SLV is 1.3 times larger.

SLV vs VOE: Differences, Returns & Fees
Measure	SLV	VOE
Return
Measure	SLV	VOE
Total return, 1 year	+14.9%	+22.8%
Drawdown
Measure	SLV	VOE
Below its high	53.5%, high on Jan 28, 2026
Benchmark
Measure	SLV	VOE
What it tracks	Silver	Morningstar US Mid Cap Value Index
Cost and size
Measure	SLV	VOE
Expense ratio	0.50%	0.05%
Net assets, as of Sep 30, 2026	$30.0bn	$22.8bn
Holdings
Measure	SLV	VOE
Holdings in common	not published
In the S&P 500, by weight		96%
Top ten holdings, share of the fund		14.0%

Method

Side by side

SLV iShares Silver Trust VOE Vanguard Morningstar Mid-Cap Value ETF

Where it sits Commodity ETF Stock ETF

Issuer iShares Vanguard

What it is Holds silver Tracks an index of Mid-Cap Value

Total return, 1 year +14.9% +22.8%

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% 0.05%

Holdings not counted 169

Net assets, SLV as of Oct 28, 2026 and VOE as of Sep 30, 2026 $26.9bn $22.8bn

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

Alert

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.

VOE

VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.

Questions people ask

Which returned more over the last year, SLV or VOE?: In the year to Oct 28, 2026, with distributions reinvested, SLV returned +14.9% and VOE +22.8%.
Which is cheaper, SLV or VOE?: VOE is cheaper, by 0.45 percentage points a year. That is about $45 on $10,000 held for a year. Fees come from each fund's own filings.

Other comparisons

DVY vs SLV SDY vs SLV COWZ vs SLV NOBL vs SLV BWET vs VOE GLDM vs VOE GLD vs VOE IAU vs VOE

Where to next

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

Sources and dates

iShares page for SLV ↗

VOE filings on SEC EDGAR ↗

VOE prospectus with the expense ratio (SEC) ↗

Vanguard page for VOE ↗

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

Cite this pageCitation, APA and Markdown

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

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