Performance data is updated to 31 May 2026.
Physical Silver (ETPMAG) — Review & Analysis
ETPMAG is the ASX's largest silver ETF, backed by physical silver bullion held in vaulted storage. AUM sits at $1.64 billion with a 0.49% p.a. management fee. Silver is both a precious metal and an industrial metal — used in solar panels, electronics and conductors — which makes its price drivers fundamentally different from gold. Compare ETPMAG alongside the rest of the precious metals universe on our commodities and resources ETF page.
Silver is significantly more volatile than gold. The gold-silver ratio typically swings between 50 and 100, and silver tends to outperform gold during late-cycle precious metals rallies as industrial demand layers on top of the monetary thesis.
The closest comparable is SLVM (Global X Silver Miners ETF), which gives leveraged exposure to silver through miners rather than bullion. ETPMAG also sits adjacent to ETPMPM, the precious metals basket, which spreads exposure across gold, silver, platinum and palladium.
ETPMAG is unhedged for currency, so AUD/USD moves layer on top of the silver price. For investors who want to understand how silver, gold and other precious metals fit together, our gold and precious metal ETF options guide is the right starting point.
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Commodity & Resource ETFs on the ASX: Every Way to Access Gold, Silver, Copper, Uranium, and More
There are 28 commodity and resource ETFs listed on the ASX, collectively managing $21.6 billion in assets. They span five broad categories: Precious Metals, Australian Resources, Specialty & Transition Metals, Uranium & Energy, and Soft Commodities.
Comparing Gold & Precious Metal ETF Options on the ASX: A 2026 Guide for Australian Investors
Gold and precious metals have been shining stars in portfolios amid 2026's volatile markets. With geopolitical tensions, inflation concerns, and a booming commodity cycle, many Aussies are turning to ETFs for easy, low-cost exposure. But with over a dozen gold-focused options on the ASX, which one fits your strategy?
Similar ETFs
| Stock | Name | 1 Year % |
|---|---|---|
| GOLD | Global X Physical Gold | +22.27% |
| PMGOLD | Perth Mint Gold | +22.50% |
| GDX | VanEck Gold Miners ETF | +60.85% |
| QAU | Gold Bullion Currency Hedged ETF | +34.36% |
| GXLD | Gold Bullion ETF | +22.90% |
Disclaimer
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Last updated: January 2026
