Do SIL and XME hold the same stocks?

By their latest filings, 9% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, SIL or XME?

SIL has 0% of its weight in S&P 500 names and XME has 21%, so SIL differs more from the index.

Which is cheaper, SIL or XME?

SIL charges 0.65% a year and XME charges 0.35%, so XME is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

SIL vs XME: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, SIL returned +18.3% to XME's +3.4%; 9% 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 $3.8bn on Oct 27, 2026 for State Street SPDR S&P Metals & Mining ETF.

SIL on its own →XME on its own →

At a glance

0.0%

SIL in the S&P 500

21.4%

XME in the S&P 500

+18.3%

SIL total return, 1 year

+3.4%

XME total return, 1 year

SIL · 1 year to Oct 28, 2026 100% of its weight is outside the S&P 500

0% of SIL's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Jul 31, 2026.

XME · 1 year to Oct 28, 2026 79% of its weight is outside the S&P 500

21% of XME's weight is in S&P 500 companies and 79% is outside the index. Holdings as of Oct 27, 2026.

Pair scorecard

XME costs 0.30 points a year less; their one-year returns differ by 14.9 points; SIL is 1.1 times larger.

Points (pts) are percentage points.

SIL vs XME: Holdings Overlap & Returns
Measure	SIL	XME
Return
Measure	SIL	XME
Total return, 1 year	+18.3%	+3.4%
Drawdown
Measure	SIL	XME
Below its all-time high	34.2%, high on Feb 27, 2026	23.6%, high on Jun 2, 2026
Against its benchmark
Measure	SIL	XME
What it tracks	Silver miners	Miners and metals
Against the S&P 500, 1 year		behind by 10.3 pts
Its benchmark, total return, 1 year	+13.4%	+13.7%
Against its benchmark, 1 year	ahead by 4.9 pts	behind by 10.3 pts
Cost and size
Measure	SIL	XME
Expense ratio	0.65%	0.35%
Net assets, as of Oct 12, 2026	$4.4bn	$4.1bn
Holdings
Measure	SIL	XME
Holdings in common	9%

Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method

Risk and return

Apr 30, 2010 to Oct 23, 2026 · 860 weekly returns

SIL XME

Return

Total return edge XME +93.6% +115.2%

Annualized edge XME +4.1% +4.7%

Price return edge XME +62.4% +72.8%

Risk

Volatility edge XME 39.9% 33.0%

Max drawdown edge Tie −82.3% −82.6%

Downside capture 100.9% 124.4%

Beta 1.03 1.45

Risk-adjusted

Sharpe edge Tie 0.26 0.26

Sortino edge Tie 0.38 0.38

Treynor 0.101 0.066

Calmar edge XME (slight) 0.05 0.06

Against the benchmark

Alpha +0.6% a year −5.7% a year

Alpha t-stat 0.07 −0.96

Information ratio 0.03 −0.03

Tracking error 36.2% 27.6%

Each against its own benchmark: SIL against ACWI, Apr 30, 2010 to Oct 23, 2026; XME against IVV, Jun 30, 2006 to Oct 23, 2026.

Reading

XME returned more: +115.2% to +93.6%. XME swung less: 33.0% to 39.9%. SIL and XME fell about the same at their worst: −82.3% and −82.6%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: SIL vs XME: Holdings Overlap & Returns
Measure	SIL	XME	Edge	How it is measured
Return
Total return	+93.6%	+115.2%	XME	Price change plus distributions, reinvested.
Annualized	+4.1%	+4.7%	XME	Total return as a yearly rate.
Price return	+62.4%	+72.8%	XME	Price change alone, distributions left out.
Risk
Volatility	39.9%	33.0%	XME	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	27.5%	22.7%	XME	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−82.3%	−82.6%	Tie	Deepest fall from a high to the low after it.
Upside capture	84.6%	147.5%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	100.9%	124.4%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.03	1.45	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.18	0.49	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.26	0.26	Tie	Return above Treasury bills per unit of volatility.
Sortino	0.38	0.38	Tie	Return above Treasury bills per unit of downside deviation.
Treynor	0.101	0.066		Return above Treasury bills per unit of beta.
Calmar	0.05	0.06	XME (slight)	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	ACWI	IVV		The ETF each fund is measured against.
Alpha	+0.6% a year	−5.7% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.07	−0.96	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−16.9% to +18.2%	−17.2% to +5.9%	Includes zero	The 95% range for the yearly alpha.
Information ratio	0.03	−0.03		Return against its benchmark per unit of tracking error.
Tracking error	36.2%	27.6%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 860 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, SIL and XME hold 9% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.

50%

0 half 100%

half

9% in common

Positions both hold · largest shared weight first SIL XME

HECLA MINING COMPANY 4.63% 3.94%

COEUR MINING, INC. 10.59% 3.80%

HYCROFT MINING HOLDING CORPORATION 0.66% 0.94%

MCEWEN INC. 0.66% 0.81%

Only in one fund ↓

Only in SIL

Wheaton Precious Metals Corp. 22.38%

Pan American Silver Corp. 12.54%

INDUSTRIAS PENOLES, S.A.B. DE C.V. 5.21%

FIRST MAJESTIC SILVER CORP. 4.47%

FRESNILLO PLC 4.30%

Compania de Minas Buenaventura S.A.A. 4.18%

OR Royalties Inc. 4.16%

SSR MINING INC. 3.85%

Only in XME

CLEVELAND CLIFFS INC 6.46%

RELIANCE INC 6.15%

NUCOR CORP 5.89%

STEEL DYNAMICS INC 5.76%

COMMERCIAL METALS CO 5.16%

ROYAL GOLD INC 5.12%

NEWMONT CORP 4.91%

FREEPORT MCMORAN INC 4.86%

Check overlap with more funds →

Window by window

Window by window: SIL vs XME: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	SIL	XME	SIL	XME
3 months	+6.3%	+3.9%	+1.9 pts vs ACWI	−2.2 pts vs IVV
6 months	−10.2%	−11.5%	−17.6 pts vs ACWI	−20.6 pts vs IVV
1 year	+18.3%	+3.4%	+4.9 pts vs ACWI	−10.3 pts vs IVV
3 years	+227.9%	+108.2%	+139.0 pts vs ACWI	+12.8 pts vs IVV
Since launchNot the same days: SIL Apr 2010 · XME Jun 2006	+109.0%	+189.8%	−286.2 pts vs ACWI	not measured

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Side by side

SIL Global X Silver Miners ETF · Holds 39 stocks in silver miners, 0% of its weight in S&P 500 companies XME State Street SPDR S&P Metals & Mining ETF · Holds 38 stocks in miners and metals, 21% of its weight in S&P 500 companies

Issuer Global X State Street

Theme Silver miners Miners and metals

In the S&P 500 0.0% 21.4%

Active share vs the S&P 500 100.0% 99.6%

In the Nasdaq-100 0.0% 0.0%

Holdings 39 38

Top ten, share of the fund 76.3% 53.3%

Expense ratio 0.65% 0.35%

Fee for the differing part 0.65% 0.35%

Total return, 1 year +18.3% +3.4%

vs its benchmark +4.9 pts vs ACWI −10.3 pts vs IVV

Below its high −34.2% −23.6%

Net assets, SIL as of Oct 12, 2026 and XME as of Oct 27, 2026 $4.4bn $3.8bn

As of Oct 28, 2026. Source: ETFIQ.

9% of the two portfolios are the same securities at the same weight.

Client brief · page 1 of 2 Report BR-7F0327F243

SIL and XME are built for the same job. How do they differ in cost, holdings and results?

Theme. SIL covers Silver miners and XME covers Miners and metals.
Concentration. The top ten holdings are 76.3% of SIL and 53.3% of XME, a gap of 23.0 points.
What each follows. SIL follows Silver miners and XME follows Miners and metals.

Data as of Oct 28, 2026.

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About each fund

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 Oct 28, 2026 the fund returned +18.3% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 4.9 pts. It sits 34.2% below its all-time high of Feb 27, 2026.

XME

By weight, 21% of XME'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 53% of the fund across 38 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +3.4% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 10.3 pts. It sits 23.6% below its all-time high of Jun 2, 2026.

Questions people ask

Do SIL and XME hold the same stocks?: By their latest filings, 9% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, SIL or XME?: SIL has 0% of its weight in S&P 500 names and XME has 21%, so SIL differs more from the index.
Which is cheaper, SIL or XME?: SIL charges 0.65% a year and XME charges 0.35%, so XME is cheaper. Fees come from each fund's prospectus.

Other comparisons

SIL vs SLX SIL vs PICK SIL vs GOAU SIL vs METL XME vs AGMI XME vs SILJ XME vs SLVP XME vs ARTY

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →SIL on its own →XME on its own →SIL dividend history →SIL holdings →XME dividend history →XME holdings →Method →Standards and sources →

Sources and dates

SIL filings on SEC EDGAR ↗

SIL prospectus with the expense ratio (SEC) ↗

Global X page for SIL ↗

XME filings on SEC EDGAR ↗

XME prospectus with the expense ratio (SEC) ↗

State Street website ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, SIL against XME, data as of Oct 28, 2026. https://etfiq.com/compare/themes/sil-vs-xme

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.