Core Insights - The iShares Silver Trust (SLV) and SPDR Gold MiniShares Trust (GLDM) provide investors with direct exposure to silver and gold prices without the need for physical storage [2] Cost & Size Comparison - SLV has an expense ratio of 0.50% and assets under management (AUM) of $41.11 billion, while GLDM has a lower expense ratio of 0.10% and AUM of $27.73 billion [3][4] - As of January 14, 2026, SLV's 1-year return is 213.65%, compared to GLDM's 73.92% [3] Performance & Risk Analysis - Over the past five years, SLV experienced a maximum drawdown of -38.79%, while GLDM had a lower drawdown of -20.92% [5] - An investment of $1,000 would have grown to $3,118 in SLV and $2,427 in GLDM over five years [5] ETF Structure and Holdings - GLDM tracks the London Bullion Market Association's (LBMA) Silver Price Index and has been available for seven years, holding only gold [6] - SLV also tracks the LBMA's Silver Price Index and has been operational for nearly 20 years, holding only silver [7] Market Context - Precious metal ETFs like SLV and GLDM can exhibit high volatility due to the nature of the metals they hold, with silver being 2-3 times more volatile than gold [8] - Both ETFs have shown similar long-term trends, moving directionally with gold [9] Recent Performance Trends - In 2025, SLV surged approximately 141% and is up 25% year-to-date as of January 15, 2026, while GLDM increased by 62% in 2025 and is up 6% year-to-date [11]