Data as of Nov 4, 2026.
GBUG vs SIL: Holdings Overlap & Returns
Over the year to Nov 4, 2026, GBUG returned +29.6% to SIL's +27.1%; 16% of their weight is in the same names.
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Net assets: $157m on Nov 4, 2026 for Sprott Active Gold & Silver Miners ETF, and $4.4bn on Oct 12, 2026 for Global X Silver Miners ETF.
4% of GBUG's weight is in S&P 500 companies and 96% is outside the index. Holdings as of Nov 4, 2026.
0% of SIL's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Jul 31, 2026.
Pair scorecard
SIL costs 0.25 points a year less; their one-year returns differ by 2.5 points; SIL is far larger, $4.4bn against $174m.
Points (pts) are percentage points.
| Measure | GBUG | SIL |
|---|---|---|
| Return | ||
| Total return, 1 year | +29.6% | +27.1% |
| Drawdown | ||
| Below its all-time high | 25.4%, high on Feb 27, 2026 | 33.7%, high on Feb 27, 2026 |
| Against its benchmark | ||
| What it tracks | Gold miners | Silver miners |
| Its benchmark, total return, 1 year | +15.0% | |
| Against its benchmark, 1 year | ahead by 12.1 pts | |
| Cost and size | ||
| Expense ratio | 0.90% | 0.65% |
| Net assets, as of Oct 12, 2026 | $174m | $4.4bn |
| Holdings | ||
| Holdings in common | 16% | |
Risk and return
Feb 28, 2025 to Oct 30, 2026 · 87 weekly returnsFrom Feb 2025 to Oct 2026, GBUG returned slightly more: +112.6% to +108.0%. GBUG swung slightly less: 50.9% to 53.5%. GBUG fell slightly less at its worst: −36.7% to −39.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | GBUG | SIL | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +112.6% | +108.0% | GBUG (slight) | Price change plus distributions, reinvested. |
| Annualized | +57.0% | +54.9% | GBUG (slight) | Total return as a yearly rate. |
| Price return | +109.3% | +105.2% | GBUG (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 50.9% | 53.5% | GBUG (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 31.5% | 33.5% | GBUG (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −36.7% | −39.5% | GBUG (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.06 | 1.01 | GBUG (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.71 | 1.61 | GBUG (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 1.55 | 1.39 | GBUG | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 87 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GBUG and SIL hold 16% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 4, 2026.
half
16% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | GBUG | SIL | GBUG | SIL |
| 3 months | −2.1% | −6.8% | not measured | −5.5 pts vs ACWI |
| 6 months | −5.5% | −17.4% | not measured | −20.0 pts vs ACWI |
| 1 year | +29.6% | +27.1% | not measured | +12.1 pts vs ACWI |
| 3 years | – | +223.9% | – | +146.3 pts vs ACWI |
| Since launchNot the same days: GBUG Feb 2025 · SIL Apr 2010 | +117.5% | +110.6% | not measured | −282.3 pts vs ACWI |
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Side by side
As of Nov 4, 2026. Source: ETFIQ.
16% of the two portfolios are the same securities at the same weight.
Client brief:
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GBUG
By weight, 4% of GBUG's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 40% of the fund across 43 positions, as published by its issuer for Nov 4, 2026. Over the year to Nov 4, 2026 the fund returned +29.6% with distributions reinvested. It sits 25.4% below its all-time high of Feb 27, 2026.
SIL
By weight, 0% of SIL's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 76% of the fund across 39 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +27.1% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 12.1 pts. It sits 33.7% below its all-time high of Feb 27, 2026.
Questions people ask
- Do GBUG and SIL hold the same stocks?
- By their latest filings, 16% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, GBUG against SIL, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gbug-vs-sil
ETFIQ. (Nov 4, 2026). GBUG against SIL. Retrieved from https://etfiq.com/compare/themes/gbug-vs-sil
[GBUG against SIL (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/gbug-vs-sil)
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