GDX Gold or SLVP Silver: Which ETF Should You Buy Now?

Core Insights - The iShares MSCI Global Silver and Metals Miners ETF (SLVP) and VanEck Gold Miners ETF (GDX) provide distinct investment opportunities in the metals and mining sector, with SLVP focusing on silver and diversified metals while GDX targets gold miners [1][2]. Cost and Size Comparison - SLVP has a lower expense ratio of 0.39% compared to GDX's 0.51% - SLVP offers a higher dividend yield of 1.5% versus GDX's 0.6% - As of February 20, 2026, SLVP has $1.3 billion in assets under management (AUM), while GDX has $33.5 billion [3][4]. Performance and Risk Metrics - Over the past five years, SLVP experienced a maximum drawdown of -56.18%, while GDX had a drawdown of -49.79% - An investment of $1,000 would have grown to $2,718 in SLVP and $3,246 in GDX over the same period [5]. Portfolio Composition - GDX consists of 55 holdings focused solely on gold mining, with major positions in Agnico Eagle Mines (9.73%), Newmont Corp (9.11%), and Barrick Mining Corp (6.65%) [6]. - SLVP holds 30 companies, with a concentration in silver mining, featuring top holdings such as Hecla Mining (15.38%), Indust Penoles (11.9%), and Fresnillo Plc (10.94%) [7]. Market Context - Precious metals have gained significant momentum, with gold and silver prices reaching all-time highs in January 2026, influencing investor decisions between SLVP and GDX based on desired metal exposure [8]. Investment Strategy - GDX is noted for its liquidity and diversification within the gold mining sector, making it a suitable choice for investors seeking exposure without the complexities of individual stock analysis [9][10]. - SLVP is recognized as a leading silver ETF, providing access to top-tier global silver mining companies, which may appeal to investors looking for higher dividend yields and lower costs [12][13].