Gold vs silver: which wins over 15 years?
This page compares 15 years of steady monthly investing into a gold ETF (GLD) and a silver ETF (SLV), using the comparison calculator. Silver swings more because of industrial demand, and we place the two metals' return and drawdown differences side by side.
Investment conditions
Asset · Gold ETF (GLD) vs Silver ETF (SLV)
Method · Comparison
The key is that the two metals, though they look similar, differ in risk character. Silver's higher volatility can bring larger gains in up-markets but also deeper drawdowns, so even within 'precious metals' the psychological strain differs. In the comparison calculator, review each asset's ending balance together with its maximum drawdown and recovery period. Rather than simply which return was higher, judge by the difference in volatility and whether you can withstand it. Note too that neither pays interest or dividends, so both rely purely on price movement.
Open in comparison calculatorWhy this period and asset
Gold and silver are grouped as 'precious metals,' but their character differs. Gold is driven mainly by store-of-value and safe-haven demand and swings comparatively gently. Silver combines a safe-haven character with a large share of industrial demand—solar, electronics, and more—so it tends to swing more than gold with the economy and industrial demand. Over the past 15 years, both went through a long correction after the 2011 precious-metals peak, and their up and down moves diverged by phase thereafter. Silver at times outpaced gold in up-markets but often suffered deeper drawdowns in declines.
Caveats & limits
This comparison reflects one specific past period, and results can change with the start or end date. Precious metals are sensitive to supply-demand, industrial demand, and the dollar, so swings can be large, and past performance does not guarantee the future. In real investing, fees, taxes, and exchange rates (for dollar-denominated assets) affect outcomes. This page recommends no purchase; it is educational material comparing character.
Data sources & limits
- Trading fees and taxes are not reflected — figures are pre-tax.
- Based on historical data; does not guarantee future returns.
Frequently asked questions
Which is better, gold or silver?
Neither is always better. Silver at times outpaced gold in up-markets but often had deeper drawdowns in declines. Use the comparison calculator to view return and drawdown side by side.
How do the risks differ?
Silver's large share of industrial demand makes it sensitive to the economy and prone to higher volatility, while gold is comparatively milder. Comparing maximum drawdown and recovery period makes the difference clear.
What should I use as the basis for comparison?
Look beyond the final return to maximum drawdown, time underwater, and recovery period. Bear in mind that neither pays interest or dividends, so both depend solely on price movement.
Related scenarios
📋 结果基于历史数据计算,过去的收益不代表未来的收益。
📋 本服务旨在帮助理解投资、供教育之用,并非投资建议。
⚠️ 各资产的波动性与风险水平不同,仅凭收益率无法判断孰优孰劣。