1911 Gold Corporation (TSXV: AUMB; OTCQX: AUMBF)
1911 Gold is Manitoba’s Gold Standard - Ready, Permitted and High-Grade 1911 Gold is an Emerging Gold Producer, with Significant Cash Flow Generation and District-Scale Growth Potential
For investors seeking aggressive exposure to the silver market, the Global X Silver Miners ETF (SIL) may hold appeal; whereas the VanEck Gold Miners ETF (GDX) is better suited for those who prioritize lower costs and liquidity within the gold industry.
Both exchange-traded funds offer investors precise access to the precious metals mining sector. SIL focuses on silver mining companies, while GDX more broadly covers the gold mining industry. These funds are often used as tactical tools when investors anticipate a rise in metal prices, because the profit margins of mining companies can fluctuate more dramatically than the spot prices of gold or silver themselves. This characteristic makes them more volatile than holding physical metals or ETFs that track spot prices.
In terms of cost, the VanEck Gold Miners ETF has a lower expense ratio of 0.51%, saving approximately 0.14 percentage points per year compared to SIL’s 0.65%. However, SIL offers a slightly higher yield, with a dividend yield of 1.10% over the past 12 months, versus 0.70% for GDX. Regarding size, GDX manages $31.3 billion in assets, while SIL manages $5.8 billion. As of April 27, 2026, SIL had a one-year cumulative return of 135.40%, compared to GDX’s 91.10%. SIL has a beta of 0.83, and GDX has a beta of 0.65, both calculated based on five years of monthly returns.
In terms of maximum drawdown over the past five years, SIL recorded -55.60%, while GDX recorded -46.50%. Also over the past five years, a $1,000 investment in GDX would have grown to $2,800, whereas a $1,000 investment in SIL would have grown to $2,307.
GDX was established in 2006 and holds 54 constituent stocks, primarily in the basic materials sector. Its top three holdings are Newmont (11.63%), Agnico Eagle Mines (11.54%), and Barrick Gold (7.44%). The dividend per share over the past 12 months is $0.63.
In contrast, SIL was established in 2010 and has a more concentrated portfolio, with 41 constituent stocks. Its top three holdings are Wheaton Precious Metals (22.13%), Pan American Silver (12.20%), and Coeur Mining (7.95%). The dividend per share over the past 12 months is $0.99. Although smaller in size than GDX, SIL offers pure-play exposure to the silver industry.
In 2025, both gold and silver prices rose significantly, and mining stocks fluctuated accordingly, often with greater amplitude. This is a key distinction between such funds and physical metal trusts. SIL and GDX do not hold gold or silver bullion; rather, they hold shares of mining companies. When metal prices rise, miners’ profit margins expand rapidly, amplifying returns; conversely, when prices fall, losses can be equally severe.
Both funds have expense ratios notably higher than typical index ETFs, and both introduce company-specific risks—including operating costs, management quality, and geopolitical risks—that physical metal funds do not carry. Overall, GDX is the more conservative choice of the two; SIL is a solid option for investors seeking a more targeted bet on silver’s dual role as both a precious metal and an industrial metal.
