SLV vs. SIVR: Same Silver. One Costs You More. Here Is Which Silver ETF Is the Smarter Long-Term Buy.

Key Points

The iShares Silver Trust and the abrdn Physical Silver Shares ETF both provide exposure to physical silver.

But that doesn't mean these two ETFs are identical twins, especially if one cares about fees.

For long-term investors, it's actually easy to decide between the two funds.

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As of the end of March, there were 4,915 exchange-traded products (ETPs), including exchange-traded funds (ETFs), listed on U.S. exchanges. That's a big universe, one that seemingly grows daily. That vast population also ensures some ETFs are mirror images of competing funds.

A familiar example is the landscape of market capitalization-weighted S&P 500 ETFs. The titans of this space all do the same thing: track the S&P 500, with only branding and expense ratios differing.

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Such similarities are also found in the commodities ETF realm, particularly in the somewhat dense gold ETF segment, where a sizable number of funds provide investors with exposure to physical bullion. Again, the only differences are the fund issuers, fees, and, in the gold example, the issuer's storage of the yellow metal.

Silver, often viewed as gold's "little brother," is part of this scenario, too. Just look at the iShares Silver Trust (NYSEMKT: SLV) and the abrdn Physical Silver Shares ETF (NYSEMKT: SIVR), both of which provide exposure to, you guessed it, physical silver. But which one is better?

Making a golden choice with silver ETFs

Enthusiasm for silver ETFs is palpable. Buoyed by rising demand for the commodity from renewable energy and data centers, silver prices surged over the past year, helping both of these silver-tracking ETFs more than double in value over that time. Adding to the white metal's potency is the fact that demand is outstripping supply because miners can't get enough product to market fast enough.

Indeed, there's some good news above, but it doesn't solve the riddle of how to choose between the iShares ETF and its Aberdeen rival (Aberdeen is the issuer and "abrdn" is a brand). Fortunately, investors, particularly those wanting to own silver for the long term, don't have to stretch to get an answer. In comparing two ETFs that do the same thing, the deciding factor often boils down to fees.

Data confirm that, across stocks, bonds, and even gold ETFs, investors consistently and overwhelmingly lean toward the cheapest funds. If you're in that camp, deciding between the two silver ETFs is easy. The iShares fund charges 0.5% per year, or $50 on a $10,000 investment, while its Aberdeen rival charges 0.3% annually. As the chart below indicates, those savings add up after awhile.

There's more to this story. Aberdeen notes that since its silver ETF launched in July 2009, it has charged 0.3% in fees. That's because the issuer is waiving 0.15% "and will continue to do so until further notice." One way of looking at that is the issuer is directly trying to compete on fees, and for long-term silver investors -- and that's a good thing.

So what gives?

Inquisitive investors may be wondering why, with the fee-aided performance gap, the Aberdeen silver ETF is smaller than its iShares rival by about $31.1 billion. Superficial metrics explain some of that gap.

For example, the iShares ETF is more than three years older and, well, it's an iShares ETF. In the world of ETFs, it is difficult to match BlackRock's ETF business when it comes to brand recognition. Of course, there's more nuance.

The iShares fund is the default silver ETF for professional market participants. As of April 22, its 30-day average volume was 32.22 million shares. That implies ample liquidity, meaning the pros can move in and out of this silver ETF with tight spreads and little slippage. Those are also important considerations for options traders seeking silver exposure through ETFs.

For investors who believe silver's bull run is just getting started and want to be engaged with the commodity for the long haul, there's no need to copy the pros. Take the Aberdeen ETF, its lower fee, and potentially enjoy a long-term performance advantage over the competing product.

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Todd Shriber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends BlackRock. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.