3 ETFs to invest in silver
Updated:
10 FEB, 2026
In recent months, silver has once again become the focus of investors driven by a macroeconomic context favorable to precious metals, along with a growing industrial demand related to the energy transition. Therefore, in this article we present you three ETFs to invest in silver that have registered excellent returns over the past year, with a minimum history of three years, according to Morningstar data.
More volatile than gold but capable of offering interesting tactical and diversification opportunities, silver today represents a strategic asset in portfolios oriented towards inflation protection and exposure to long-term trends such as electrification and green technologies.
ETFs to invest in silver
| ETF | ISIN | 1-year return | 3-year return |
|---|---|---|---|
| WisdomTree Physical Silver | JE00B1VS3333 | 157.92% | 37.14% |
| Invesco Physical Silver | IE00B43VDT70 | 147.68% | 43.77% |
| iShares Physical Silver | IE00B4NCWG09 | 147.59% | 43.84% |
WisdomTree Physical Silver
The WisdomTree Physical Silver, from the WisdomTree management, is one of the most veteran vehicles and recognizable for investing in physical silver within the European ETC market.
Its objective is to invest directly in physical silver, stored in ingots that back each share in circulation. These ingots are kept in high-security vaults and under professional custody agreements, which allows the investor to obtain exposure very close to the spot price of silver, without resorting to derivatives or complex structures.
Invesco Physical Silver
The Invesco Physical Silver, from the Invesco management, is a vehicle that responds to a very clear idea: to replicate as directly as possible the behavior of the price of silver.
This ETC (Exchange Traded Commodity) invests exclusively in physical silver, not in derivatives or in shares of mining companies. Each share is backed by silver ingots that are stored in vaults, under institutional custody standards. That is, the investor does not buy "expectations" about silver, but real silver, although in a financial format.
iShares Physical Silver
The iShares Physical Silver, from the BlackRock management, is presented as one of the most used instruments in Europe to take exposure to the price of physical silver in an efficient and transparent way.
This ETC replicates the evolution of the spot price of silver by directly holding the metal. Each title is backed by physical silver in the form of ingots, guarded in vaults by specialized entities and audited periodically. There are no derivatives, nor synthetic strategies: the behavior of the product depends almost exclusively on what the silver quotation does in international markets.
The product does not promise sophistication or alpha generation, but it does promise a close correlation with the precious metal, something especially valued in periods when silver returns to play a leading role as a real and strategic asset.
Silver takes center stage as a safe haven asset in a global tension environment
The silver market is experiencing an exceptional moment. In recent weeks, the precious metal has climbed strongly, comfortably outperforming gold and attracting the attention of both institutional and retail investors. According to Regina Hammerschmid, commodity portfolio manager at Vontobel, the magnitude of the movement is hard to ignore: silver has accumulated a revaluation close to 60% in just one month, driven by a combination of macroeconomic and geopolitical factors that have revived the search for safe haven assets.
The weakness of the dollar, doubts about the US fiscal deficit and the independence of the Federal Reserve, along with the escalation of conflicts in different parts of the globe, have created a breeding ground for precious metals. However, Hammerschmid emphasizes that the most recent catalyst has been intense speculation in China, where strong demand has led to skyrocketing local premiums, tensions in physical silver and even the temporary suspension of trading in some funds to contain volatility. In this context, Asia has become the marginal buyer of physical silver, quickly absorbing flows from Western ETFs.
From a more structural perspective, Ned Naylor-Leyland, manager of the Jupiter Gold & Silver fund at Jupiter AM, believes that this movement confirms a long-term thesis: silver is set to lead against gold. In his view, it is not a secondary market, but an asset with a key physical component and growing signs of stress, such as delivery failures, export restrictions in China and price divergences between Shanghai and Western markets. Particularly striking is, in his opinion, the undervaluation of silver coins, whose prices do not yet reflect the new level of the metal.
Conclusion
Both experts agree that the current scenario is attractive, but not without risks. Volatility will remain high as long as the buying fever does not cool down —whether due to a seasonal pause like the Chinese New Year or regulatory measures—. Even so, tensions in the physical market and limited institutional participation reinforce the idea that silver could continue to gain prominence in investment portfolios.
