Canadian Silver ETFs: 2025 Guide to Physical and Mining Exposure

The surge in silver prices throughout 2025 has reignited investor interest in precious metals diversification. For those seeking Canadian Silver ETF options, the landscape offers both direct commodity access and indirect exposure through mining equities. Silver’s remarkable rally—particularly in the final quarter when prices shattered the 1980 record of US$49.95 to reach US$58.83—underscores the renewed appeal of this versatile asset class.

While gold typically dominates precious metals portfolios, silver has gained considerable momentum in recent months, fueled by geopolitical uncertainties and evolving trade policies. Canadian investors specifically benefit from exposure to both the physical commodity and the substantial mining operations headquartered or traded in Canada, making Canadian Silver ETF selection a strategic consideration for 2025 portfolios.

Canadian Silver ETF Products for Direct Price Exposure

Investors seeking straightforward commodity participation can choose from several Canadian Silver ETF options structured around physical bullion holdings. These products eliminate storage complications while maintaining direct correlation to spot prices.

iShares Silver Trust (ARCA:SLV) leads the sector by asset volume, commanding US$26.33 billion with a unit price of US$51.21. This Canadian-accessible fund benchmarks against the London Bullion Market Association silver quotation, holding 508 million ounces of physical bullion. A critical distinction for Canadian investors: the structure operates outside traditional mutual fund regulation, avoiding certain compliance requirements.

Sprott Physical Silver Trust (ARCA:PSLV, TSX:PSLV) presents an alternative Canadian Silver ETF specifically appealing to investors prioritizing physical redemption rights. With US$11.61 billion in assets and priced at US$18.65 per unit, this Canadian-managed fund stores 191.12 million ounces in London Good Delivery bars. Notably, PSLV allows unit holders sufficient volume to redeem physical silver directly—a distinctive feature among peer products.

Aberdeen Standard Physical Silver Shares ETF (ARCA:SIVR) rounds out physical exposure options at US$3.71 billion, trading at US$53.71. Operating with a 0.3 percent expense ratio, this Canadian Silver ETF holds 45.51 million ounces secured with JPMorgan Chase Bank. For cost-conscious investors, this represents the efficiency-oriented Canadian Silver ETF choice.

Tactical traders emphasizing leverage prefer ProShares Ultra Silver (ARCA:AGQ), engineered to deliver twice daily silver price performance through derivatives strategies. At US$107.32 per unit with US$1.33 billion assets, AGQ carries a 0.95 percent expense ratio and requires daily monitoring discipline.

For hedging strategies, ProShares UltraShort Silver (ARCA:ZSL) provides inverse exposure, structured for negative two times daily Bloomberg Silver Subindex performance. Trading at US$9.51 with minimal US$73.71 million assets, this instrument suits experienced traders managing downside risk scenarios.

Why Canadian Silver Miners Dominate ETF Portfolios

The mining equity segment of Canadian Silver ETF options showcases Canada’s substantial role in global silver production. These funds grant participation in exploration, development, and established operations while mitigating single-company risk through portfolio diversification.

Global X Silver Miners (ARCA:SIL) anchors this category with US$3.93 billion, trading at US$77.66. The Canadian Silver ETF structure emphasizes royalty companies, with Wheaton Precious Metals (TSX:WPM, NYSE:WPM) commanding 22.5 percent weighting, alongside Pan American Silver (TSX:PAAS) at 12.3 percent. Its 0.65 percent expense ratio reflects moderate active management.

Amplify Junior Silver Miners (ARCA:SILJ) uniquely targets small-cap operators, charging 0.69 percent fees. At US$26.09 with US$2.97 billion capitalization, this Canadian Silver ETF concentrates on emerging Canadian producers like Hecla Mining (NYSE:HL) at 11.3 percent and First Majestic Silver (TSX:AG, NYSE:AG) at 10.3 percent weighting.

iShares MSCI Global Silver Miners (BATS:SLVP) offers lowest-cost exposure at 0.39 percent, though US$630 million assets limit trading liquidity. Sixty-nine percent holdings concentrate in Canadian exchanges, with Hecla Mining weighted at 15.5 percent and Industrias Peñoles at 11.7 percent.

Sprott Silver Miners & Physical Silver (NASDAQ:SLVR) launched January 2025, blending mining equity exposure with 14.3 percent allocation to physical silver holdings. Trading at US$51.31, this Canadian Silver ETF hybrid structure offers diversified precious metals participation within single positions.

Sprott Active Gold and Silver Miners (NASDAQ:GBUG), established February 2025, reflects active management philosophy with 0.89 percent fees. At US$41.18 per unit and US$134.42 million assets, this newer Canadian Silver ETF option emphasizes frequent rebalancing to capitalize on evolving mining sector dynamics.

Comparing Costs: Which Canadian Silver ETF Fits Your Strategy

Selecting appropriate Canadian Silver ETF vehicles requires balancing expense ratios against liquidity and holding quality. Physical bullion vehicles range from 0.3 to 0.95 percent annually, while mining-focused Canadian Silver ETF options span 0.39 to 0.89 percent.

Asset volume considerations matter substantially—larger funds like SLV and PSLV provide superior trading efficiency, while specialized Canadian Silver ETF products prioritize niche access over volume. Geographic concentration also factors critically; products heavily weighted toward Canadian miners (SILJ, SLVP) benefit from currency and political stability advantages but sacrifice diversification.

Data collected December 2025 reflected silver’s exceptional 2025 momentum. Investors evaluating Canadian Silver ETF allocations should assess personal risk tolerance, investment timeline, and whether commodity exposure or mining company participation aligns better with portfolio objectives. The diversity of available Canadian Silver ETF structures ensures suitable options across conservative through aggressive investor profiles.