3 Small Silver ETFs That Could Keep Rallying in 2026

One of the biggest market booms of 2025 has been the bullish surge in silver. Starting the year at $28 and change, it broke $67 going into Christmas week. While the multi-billion silver ETFs have all done well with returns of +105 to +110%, it’s interesting to note that some of the smaller cap silver ETFs have done even better, especially those tracking the silver mining sector. Among the small cap silver ETFs of note are: 

• Global X Silver Miners ETF (NYSE: SIL) +160.06

• Amplify Junior Silver Miners ETF (NYSE: SILJ) +178.15

• Abrdn Physical Silver Shares ETF (NYSE: SIVR) +113.49

The Silver Perfect Storm

Silver prices have been kept in a tight range ratio to that of gold via the futures markets since the Hunt Brothers managed to corner the silver market in 1979. Despite the fact that industrial use of silver, the world’s best metal for conducting electricity, has been escalating past the rate of new production, prices have not reflected the annual increases in physical silver bullion demand. A number of financial, geopolitical, technological, and market based events have emerged to collectively create a perfect storm to propel silver prices in 2025:

1- Inflation caused by Bidenomics’ overprinting of fiat money by the Federal Reserve Bank debased the US dollar to such a degree that silver and gold, traditional havens against inflation, began to soar in price as buying accumulated and continued to surpass analyst prognostications.

2 – Central Banks from a wide range of nations from around the globe commenced hoarding gold and silver in response to geopolitical instability. The Ukraine War, the September 7th  Gaza Massacre, Boko Haram’s genocide of Christians in Nigeria, and other events, in addition to global reaction to the US reciprocal tariff policies announced in March, have all led to greater large scale silver hoarding on a sovereign nation level. 

3 – The solar industry’s insatiable hunger for silver to supply its solar panel manufacturing has become so dominant in the silver sector that it will consume nearly 90% of reserves by 2050 unless alternatives are created.   Concurrently, the boom in AI and in the data centers and other infrastructure elements to handle AI has led to yet another huge industry buyer, depleting already strained spot market inventory. 

4- Physical demand for silver from retail investors as well as commercial ones led to a rare but severe backwardation in the markets in October.  This has created a break in the futures market as physical buyers have taken over, and are now dictating rates in the market based on actual supply and demand.

Smaller Midcap Silver ETFs to Watch for In 2026

 

These small to mid-cap silver ETFs have each registered triple digit gains much like their larger rivals, but due to their relative obscurity, are poised for greater upside before being considered overbought in 2026:

Global X Silver Miners ETF – given that physical silver has supplanted the futures market in dictating prices, mining stocks have ascended to the top of the silver industry food chain. At the time of this writing, SIL has returned +160.06 year-to-date, accordingly with a 1.08% yield as a kicker. Its other details are as follows:

YTD Return	160.06%	NAV	$84.69
Net Assets	$4.82 billion	Expense Ratio	0.65%
Average Volume	2.68 million shares	1-Year Return	124.94%
No. of Holdings	39	3-Year Return	44.04%
52-Week Range	$31.37 – $85.62	5-Year Return	15.63%
Inception Date	4-19-2010	10-Year Return	16.43%

Top 5 holdings:  

• Wheaton Precious Metals (22.33%)
• Pan American Silver (12.73%)
• Coeur Mining (7.8%)
• Hecla Mining (5.81%)
• Fresnillo PLC (5.54%)

Amplify Junior Silver Miners ETF – SILJ is the first silver ETF to focus exclusively on smaller mining companies, and tracks the Nasdaq Junior Silver Miners™ Index. The bets have been paying off; SILJ has returned +178.15 YTD and is paying out a not too shabby 2.77% yield on top of that. Other details below:

YTD Return	178.15%	NAV	$28.42
Net Assets	$3.87 billion	Expense Ratio	0.69%
Average Volume	8.16 million	1-Year Return	146.66%
No. of Holdings	62	3-Year Return	40.70%
52-Week Range	$9.72-$28.97	5-Year Return	15.82%
Inception Date	11-28-2012	10-Year Return	18.91%

The top 5 SILJ Holdings are:

• Hecla Mining (12.08%)
• First Majestic Silver (10.33%)
• Coeur Mining (8.40%)
• Wheaton Precious Metals (5.79%)
• Endeavour Silver (4.40%)

Abrdn Physical Silver Shares ETF

A silver ETF that is smaller than many of its rivals but no less of a performer, SIVR has delivered a +113.49% YTD.  As SIVR tracks the silver bullion market, it keeps its $3.8 billion in silver bullion assets in London vaults and follows the silver price listed on the LBMA.

YTD Return	113.49%	NAV	$61.41
Net Assets	$3.81 billion	Expense Ratio	0.30%
Average Volume	2.167 million shares	1-Year Return	99.05%
No. of Holdings	n/a	3-Year Return	37.99%
52-Week Range	$27.47 – $64.20	5-Year Return	19.11%
Inception Date	7-24-2009	10-Year Return	14.03%