Average Daily Volume
39.44M
Fund Overview
The Sprott Physical Silver Trust (PSLV) is a closed-end trust that invests primarily in physical silver bullion. The trust provides investors with a cost-effective and convenient way to gain exposure to the price of silver without the complexities of buying and storing physical silver. PSLV is designed for investors seeking a secure and liquid investment in silver, with the trust's units being redeemable for physical silver bullion under certain conditions. The trust is managed by Sprott Asset Management LP and is listed on both the NYSE Arca and the Toronto Stock Exchange.
- Asset Class
-
Commodity
- Industry
-
Silver Miners
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- N/A
- Currency Hedged
-
No
- Portfolio Turnover
-
N/A
- Dividend Date
-
Why Invest in the PSLV ETF?
Potential Benefits
- Direct exposure to physical silver bullion, providing a hedge against inflation and currency devaluation.
- High liquidity, with units traded on major exchanges like NYSE Arca and TSX.
- Redemption feature allows investors to exchange units for physical silver under specific conditions.
- Lower expense ratio compared to some other silver ETFs, making it cost-effective for long-term investors.
- Managed by Sprott Asset Management, a reputable firm with expertise in precious metals.
Potential Risks
- Silver prices can be highly volatile, leading to significant fluctuations in the trust's value.
- Exposure to counterparty risk if the custodian fails to safeguard the physical silver holdings.
- Potential for premiums or discounts to NAV, which can affect the price at which units are bought or sold.
- Regulatory changes or tax policies could impact the attractiveness of holding physical silver through the trust.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
+11.7%
|
+17.0%
|
-21.0%
|
-2.2%
|
+1.0%
|
-21.6%
|
-0.4%
|
+16.4%
|
-11.5%
|
+3.3%
|
-
|
-
|
| 2025 |
+8.9%
|
0.0%
|
+10.4%
|
-5.6%
|
+1.6%
|
+10.0%
|
+1.5%
|
+8.5%
|
+16.5%
|
+2.6%
|
+15.8%
|
+26.8%
|
| 2024 |
-5.0%
|
-1.6%
|
+9.7%
|
+7.2%
|
+14.8%
|
-2.7%
|
-0.2%
|
-0.9%
|
+6.4%
|
+6.0%
|
-6.9%
|
-6.5%
|
| 2023 |
-2.1%
|
-11.2%
|
+16.3%
|
+2.6%
|
-4.9%
|
-4.3%
|
+8.5%
|
-1.1%
|
-9.3%
|
+2.5%
|
+9.9%
|
-5.4%
|
| 2022 |
-3.0%
|
+9.0%
|
+3.4%
|
-9.5%
|
-7.1%
|
-6.5%
|
+0.6%
|
-9.2%
|
+5.1%
|
+1.1%
|
+12.6%
|
+9.4%
|
| 2021 |
+2.6%
|
+2.4%
|
-10.5%
|
+6.8%
|
+6.8%
|
-7.4%
|
-4.1%
|
-5.6%
|
-8.6%
|
+8.9%
|
-4.8%
|
+0.8%
|
| 2020 |
+1.2%
|
-9.5%
|
-12.7%
|
+6.7%
|
+16.5%
|
+1.7%
|
+30.6%
|
+16.0%
|
-17.4%
|
+1.1%
|
-6.0%
|
+18.8%
|
| 2019 |
+4.1%
|
-2.6%
|
-2.3%
|
-2.9%
|
-2.6%
|
+9.0%
|
+6.5%
|
+11.8%
|
-8.2%
|
+6.4%
|
-6.0%
|
+4.8%
|
| 2018 |
+0.9%
|
-5.0%
|
-0.7%
|
+0.3%
|
-0.2%
|
-3.0%
|
-3.2%
|
-7.6%
|
+1.1%
|
-4.1%
|
+0.8%
|
+9.0%
|
| 2017 |
+10.2%
|
+3.7%
|
-0.7%
|
-5.7%
|
+0.8%
|
-3.8%
|
+1.1%
|
+4.2%
|
-5.6%
|
-0.2%
|
-1.3%
|
+2.4%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
No holdings data available.
Related ETFs: PSLV vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
PSLV aims to provide investors with a secure and liquid investment in physical silver bullion. The trust primarily holds allocated silver bullion stored in secure vaults. Unlike some silver ETFs that use derivatives or futures contracts, PSLV focuses on direct physical ownership, reducing counterparty risk. The trust is passively managed and does not engage in active trading of silver. Redemptions for physical silver are permitted under specific conditions, providing an additional layer of liquidity and transparency.
Frequently Asked Questions
Is PSLV backed by physical silver?
Yes, PSLV holds allocated physical silver bullion stored in secure vaults, providing direct exposure to the price of silver.
How does PSLV differ from silver mining ETFs?
PSLV invests directly in physical silver, while silver mining ETFs hold stocks of companies involved in silver production, which are subject to equity market risks and operational factors.
Can I redeem PSLV units for physical silver?
Yes, PSLV allows redemptions for physical silver bullion under specific conditions, though minimum redemption amounts and fees may apply.
Industry Overview
The Sprott Physical Silver Trust (PSLV) offers investors exposure to the silver market, which is influenced by industrial demand, investment demand, and macroeconomic factors. Silver is widely used in electronics, solar panels, and other industrial applications, making its price sensitive to economic cycles. Additionally, silver is often viewed as a store of value and a hedge against inflation, similar to gold. PSLV provides a convenient way to invest in physical silver without the logistical challenges of storage and security.
Alternative Comparison
Compared to other silver ETFs like SLV and SIVR, PSLV stands out for its focus on physical silver bullion and its redemption feature, which allows investors to exchange units for physical metal. While SLV is larger and more liquid, PSLV offers a lower expense ratio and is managed by Sprott, a specialist in precious metals. AGQ, a leveraged silver ETF, provides amplified exposure but comes with higher risk and costs, making PSLV a more conservative choice for long-term investors.
Issuer Overview
Sprott Asset Management LP, the issuer of PSLV, is a well-known investment firm specializing in precious metals and natural resources. The firm has a strong track record in managing physical bullion trusts and other alternative investment products. Sprott's expertise in the precious metals space adds credibility to PSLV as a trusted vehicle for silver exposure.
Conclusion
The Sprott Physical Silver Trust (PSLV) is a compelling option for investors seeking direct exposure to physical silver. With its focus on bullion, redemption feature, and competitive expense ratio, PSLV offers a balanced combination of security, liquidity, and cost efficiency. However, investors should be mindful of silver's volatility and the potential risks associated with precious metals investments.
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