SLVR Fees and Costs — Sprott Silver Miners & Physical Silver ETF
Data updated: 2026-08-20
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $148K in broker commissions, 0.0709% of average net assets, and portfolio turnover was 49%.
SLVR Fees and Expenses
Annual operating expenses and sales charges of SLVR. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SLVR Costs Over Time
On $10,000 invested in SLVR, assuming 5% a year before costs, total costs come to $453 over 5 years, cutting the return by 0.76% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.65%) | $68 | $214 | $371 |
| Trading costs (broker commissions) | $7 | $23 | $41 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $76 | $249 | $453 |
| Value after costs | $10,424 | $11,328 | $12,309 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
SLVR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0709%
- Total broker commissions: $148K
- Bought from dealers (principal trades, not a cost): $700.1M
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $118.2M
- Net income from securities lending: $92K (0.044% of average net assets)
SLVR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $89K | 59.63% |
| BTIG, LLC | $42K | 28.11% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $10K | 6.43% |
| COWEN PRIME SERVICES LLC | $8K | 5.11% |
| MIZUHO SECURITIES USA LLC | $1K | 0.72% |
SLVR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $293.8M | 46.74% |
| JPMORGAN DISTRIBUTION SERVICES, INC. | $167.0M | 26.57% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $84.6M | 13.46% |
| UBS SECURITIES LLC | $43.0M | 6.85% |
| JANE STREET CAPITAL, LLC | $27.0M | 4.29% |
| BOFA SECURITIES, INC. | $10.7M | 1.70% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $2.5M | 0.39% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.