Data as of Nov 4, 2026.
RING vs SIL: Holdings Overlap & Returns
Over the year to Nov 4, 2026, RING returned +28.4% to SIL's +27.1%; 16% of their weight is in the same names.
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Net assets: $2.3bn on Nov 4, 2026 for iShares MSCI Global Gold Miners ETF, and $4.4bn on Oct 12, 2026 for Global X Silver Miners ETF.
18% of RING's weight is in S&P 500 companies and 82% is outside the index. Holdings as of Nov 3, 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
RING costs 0.26 points a year less; their one-year returns differ by 1.3 points; SIL is 1.9 times larger.
Points (pts) are percentage points.
| Measure | RING | SIL |
|---|---|---|
| Return | ||
| Total return, 1 year | +28.4% | +27.1% |
| Drawdown | ||
| Below its all-time high | 25.1%, 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% | +15.0% |
| Against its benchmark, 1 year | ahead by 13.4 pts | ahead by 12.1 pts |
| Cost and size | ||
| Expense ratio | 0.39% | 0.65% |
| Net assets, as of Oct 12, 2026 | $2.3bn | $4.4bn |
| Holdings | ||
| Holdings in common | 16% | |
Risk and return
Feb 10, 2012 to Oct 30, 2026 · 768 weekly returns · each against ACWIFrom Feb 2012 to Oct 2026, RING returned more: +62.1% to +15.7%. RING swung slightly less: 37.2% to 39.3%. RING and SIL fell about the same at their worst: −78.7% and −78.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | RING | SIL | ACWI | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +62.1% | +15.7% | RING | Price change plus distributions, reinvested. | |
| Annualized | +3.3% | +1.0% | RING | Total return as a yearly rate. | |
| Price return | +35.2% | −1.9% | RING | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 37.2% | 39.3% | RING (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 25.4% | 27.1% | RING (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −78.7% | −78.6% | Tie | Deepest fall from a high to the low after it. | |
| Upside capture | 44.7% | 67.7% | 100.0% | SIL | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 70.7% | 96.5% | 100.0% | RING | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.74 | 0.97 | 1.00 | RING lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.09 | 0.14 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.23 | 0.18 | RING | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.33 | 0.26 | RING | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.114 | 0.073 | 0.098 | RING | Return above Treasury bills per unit of beta. |
| Calmar | 0.04 | 0.01 | RING | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | ACWI | ACWI | ACWI | The ETF each fund is measured against. | |
| Alpha | +1.2% a year | −2.4% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.13 | −0.25 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −17.0% to +19.4% | −21.0% to +16.3% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.04 | −0.07 | RING | Return against its benchmark per unit of tracking error. | |
| Tracking error | 35.6% | 36.4% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 768 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, RING and SIL hold 16% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.
half
16% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | RING | SIL | RING | SIL |
| 3 months | +2.4% | −6.8% | +3.7 pts vs ACWI | −5.5 pts vs ACWI |
| 6 months | −7.2% | −17.4% | −9.8 pts vs ACWI | −20.0 pts vs ACWI |
| 1 year | +28.4% | +27.1% | +13.4 pts vs ACWI | +12.1 pts vs ACWI |
| 3 years | +233.8% | +223.9% | +156.2 pts vs ACWI | +146.3 pts vs ACWI |
| Since launchNot the same days: RING Feb 2012 · SIL Apr 2010 | +74.0% | +110.6% | −293.7 pts vs ACWI | −282.3 pts vs ACWI |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
16% of the two portfolios are the same securities at the same weight.
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RING
By weight, 18% of RING'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 68% of the fund across 41 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +28.4% with distributions reinvested against +15.0% for its benchmark, the MSCI All Country World Index, so a holder was ahead by 13.4 pts. It sits 25.1% 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 RING 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.
Links are sources, not endorsements. A comparison is not a recommendation.
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, RING against SIL, data as of Nov 4, 2026. https://etfiq.com/compare/themes/ring-vs-sil
ETFIQ. (Nov 4, 2026). RING against SIL. Retrieved from https://etfiq.com/compare/themes/ring-vs-sil
[RING against SIL (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/ring-vs-sil)
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