Data as of Nov 4, 2026.
SIL vs SLX: Holdings Overlap & Returns
Over the year to Nov 4, 2026, SIL returned +27.1% to SLX's +32.9%; 0% of their weight is in the same names.
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Net assets: $4.4bn on Oct 12, 2026 for Global X Silver Miners ETF, and $150m on Nov 3, 2026 for VanEck Steel ETF.
0% of SIL's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Jul 31, 2026.
14% of SLX's weight is in S&P 500 companies and 87% is outside the index. Holdings as of Nov 2, 2026.
Pair scorecard
SLX costs 0.10 points a year less; their one-year returns differ by 5.8 points; SIL is far larger, $4.4bn against $159m.
Points (pts) are percentage points.
| Measure | SIL | SLX |
|---|---|---|
| Return | ||
| Total return, 1 year | +27.1% | +32.9% |
| Drawdown | ||
| Below its all-time high | 33.7%, high on Feb 27, 2026 | 12.2%, high on Jun 2, 2026 |
| Against its benchmark | ||
| What it tracks | Silver miners | Miners and metals |
| Its benchmark, total return, 1 year | +15.0% | +15.0% |
| Against its benchmark, 1 year | ahead by 12.1 pts | ahead by 17.9 pts |
| Cost and size | ||
| Expense ratio | 0.65% | 0.55% |
| Net assets, as of Oct 12, 2026 | $4.4bn | $159m |
| Holdings | ||
| Holdings in common | 0% | |
Risk and return
Apr 30, 2010 to Oct 30, 2026 · 861 weekly returns · each against ACWIFrom Apr 2010 to Oct 2026, SLX returned more: +161.3% to +86.3%. SLX swung less: 31.2% to 39.9%. SLX fell slightly less at its worst: −75.5% to −82.3%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SIL | SLX | ACWI | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +86.3% | +161.3% | SLX | Price change plus distributions, reinvested. | |
| Annualized | +3.8% | +6.0% | SLX | Total return as a yearly rate. | |
| Price return | +56.3% | +56.0% | Tie | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 39.9% | 31.2% | SLX | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 27.5% | 21.1% | SLX | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −82.3% | −75.5% | SLX (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 84.6% | 167.8% | 100.0% | SLX | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 101.2% | 129.0% | 100.0% | SIL | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.04 | 1.46 | 1.00 | SIL lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.18 | 0.57 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.26 | 0.29 | SLX | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.37 | 0.43 | SLX | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.099 | 0.062 | 0.095 | SIL | Return above Treasury bills per unit of beta. |
| Calmar | 0.05 | 0.08 | SLX | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | ACWI | ACWI | ACWI | The ETF each fund is measured against. | |
| Alpha | +0.4% a year | −4.8% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.05 | −0.95 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −17.1% to +17.9% | −14.6% to +5.1% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.02 | −0.02 | SIL | Return against its benchmark per unit of tracking error. | |
| Tracking error | 36.2% | 21.7% | 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, 861 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SIL and SLX hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | SIL | SLX | SIL | SLX |
| 3 months | −6.8% | −9.3% | −5.5 pts vs ACWI | −8.0 pts vs ACWI |
| 6 months | −17.4% | −8.1% | −20.0 pts vs ACWI | −10.7 pts vs ACWI |
| 1 year | +27.1% | +32.9% | +12.1 pts vs ACWI | +17.9 pts vs ACWI |
| 3 years | +223.9% | +64.3% | +146.3 pts vs ACWI | −13.3 pts vs ACWI |
| Since launchNot the same days: SIL Apr 2010 · SLX Oct 2006 | +110.6% | +326.1% | −282.3 pts vs ACWI | not measured |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
Client brief:
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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.
SLX
By weight, 14% of SLX'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 57% of the fund across 39 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +32.9% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 17.9 pts. It sits 12.2% below its all-time high of Jun 2, 2026.
Questions people ask
- Do SIL and SLX hold the same stocks?
- By their latest filings, 0% 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, SIL against SLX, data as of Nov 4, 2026. https://etfiq.com/compare/themes/sil-vs-slx
ETFIQ. (Nov 4, 2026). SIL against SLX. Retrieved from https://etfiq.com/compare/themes/sil-vs-slx
[SIL against SLX (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/sil-vs-slx)
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