As the past month has shown, SLVP is intimately tied to Silver Wheaton’s fortunes as the ETF has popped 10% while the stock is up 11.2%. Bottom line: As simple as it sounds, SLVP and SIL constituents need higher silver prices to move higher themselves. Even with the recent bump higher, silver futures are still trading near levels that are just above break-even for the miners. Pan American recently said on CNBC it could pare production if prices fall further.
iShares MSCI Global Silver Miners ETF
ETF Trends editorial team contributed to this post.