Good morning GoldBuzzers, and a very happy Tuesday to you!

What a wild ride we're seeing in the metals markets, with Gold now back well over $4,100 and Silver regaining the symbolic $50 level again.

Last Tuesday, I took a look at GDXJ, which has been the 12-month top performer among precious metals ETFs. Meanwhile, its little silver cousin, SILJ, has been quietly putting up very impressive numbers. We're talking around 130% returns in 2025 while most investors are still fixated on the big mining names.

I think of SILJ as GDXJ's younger, hungrier, more volatile sibling - the one who shows up to family dinners in a Lamborghini one year and hitchhiking the next! When silver moves, these juniors don't just follow - they explode.

So, in today's Company Corner, I'm putting SILJ under the microscope. We'll look at what's inside this ETF, why it's attracting half a billion in new money, and most importantly - whether it deserves a spot in your portfolio at current levels.

Let's dive in.

Gold Rockets Past $4,100 as Fed Cut Speculation Hits Fever Pitch

Gold surged 2.8% on Monday, as traders ramped up bets on a December Fed rate cut to nearly 70% probability - basically telling Jerome Powell to pound sand after his recent warning that a December cut is "far from" a foregone conclusion. Silver stole the show though, storming back above $50 with a massive 4.5% rocket ride, no doubt juiced by its fresh inclusion in the US critical minerals list (as I discussed Sunday).

The metals are surfing a perfect storm of bullish catalysts: the government shutdown now dragging into its 41st day as America's longest ever, with over 6,000 flights delayed Saturday. Add October's brutal jobs report, and consumer sentiment cratering to near-record lows, and you've got recession alarm bells screaming. Weekend drama saw the Senate squeeze through a 60-40 vote on reopening parts of the government, with eight Democrats breaking ranks - but it's too little, too late for the mounting chaos.

If gold can reclaim October's all-time high of $4,377 and silver can hold above $50, we'll be off to the races for the next leg up in this bull - though personally, I'd prefer this correction to grind a bit longer and deeper for a healthier setup. Either way, with the Fed boxed in by deteriorating data (even if they can't see half of it because of the shutdown), Monday proved the metals remain your ultimate middle finger to monetary madness.

_{Trading around $23 with Silver above $50/oz., SILJ offers explosive leverage to our favorite white metal’s next move.}

Be honest. Would you rather spend weeks researching individual silver miners, trying to figure out which ones won't blow up in your face... or would you prefer to own a diversified basket of 55 junior silver companies in a single trade?

If you picked option B, let me introduce you to SILJ - the Amplify Junior Silver Miners ETF.

What Exactly Is SILJ?

Think of SILJ as your one-stop shop for silver mining exposure. This ETF, launched in 2012, is the first and only ETF to target small cap silver miners. It tracks the Nasdaq Junior Silver Miners Index, giving you instant diversification across smaller silver companies from around the globe.

In comparison with the gold mining ETFs, SILJ is tiny. GDX’s market cap is around $22 Billion, GDXJ is $8.4 Billion, and SILJ weighs in at around $2.6 Billion.

It’s this relatively small size that makes SILJ particularly interesting: The fund tracks companies that derive the majority of their revenues from silver mining, global silver production, or exploration and development activities. These aren't the mining giants - they're the hungrier, more aggressive juniors that typically offer greater leverage to silver price moves.

The top 3 holdings (Coeur, Hecla and First Majestic) account for more than a third of the fund, with the top 10 holdings accounting for almost two-thirds.

That means the fund has a very long-tail, with an additional 45 small companies making up the remaining 36%.

Geographic Exposure

I think the fund is very well diversified geographically. The vast majority of exposure is in the US and Canada, with other holdings in Mexico, Peru, Northern Europe and Australia. There’s nothing in Africa.

The Numbers

Let's talk performance. Year to date, the ETF has returned almost 130%. While 2025 has obviously been stupendous, it’s still impressive that SILJ has had a total return of around 75% in the past 12 months, including dividends.

With silver around $50 per ounce - up from around $31 this time last year (that seems so long ago!) - these junior miners are literally printing money. And here's the kicker: SILJ is still trading around $23 per share, well below its 52-week high of $27.26.

The above chart shows a 10-year comparison of Silver with SILJ. You can see how little love the silver miners get when Silver declines (or even flatlines) but when Silver takes off (2016, 2020 and 2024), then SILJ’s leverage is powerful. You’re getting upside, as well as downside, leverage.

Why Choose SILJ Over Individual Stocks?

1. Instant Diversification Picking winning junior miners is like finding needles in a haystack. One bad quarter, one mine flooding, one jurisdiction going sideways, and your individual pick could crater overnight. SILJ spreads that risk across 55 different companies.

2. The Leverage Factor When silver moves, junior miners typically move 2-3x as much. Silver up 10%? Junior miners might jump 20-30%. But the beauty is that SILJ captures that leverage while smoothing out the individual company blow-ups.

3. No Homework Required Researching junior miners means digging through feasibility studies, understanding metallurgy, analyzing jurisdictions, and evaluating management teams. With SILJ, the index does the heavy lifting. Companies get added or removed based on strict criteria.

4. Liquidity When You Need It Try selling 10,000 shares of a tiny junior miner without destroying the market. Good luck. The spreads can be brutal. But, SILJ trades millions of shares daily with tight spreads, so you can get in and out without drama.

5. Lower Costs Than You'd Think With an expense ratio of 0.69%, SILJ costs less than what most people lose on the bid-ask spread trying to trade individual juniors.

The Technical Picture

Recent fund flows tell an interesting story: 1 Year Net Flows of $513.05 million and 3 Year Net Flows of $709.94 million. It’s clear that strong hands have been quietly accumulating this ETF even through silver's consolidation periods.

The Bottom Line

With silver back above $50, SILJ offers a compelling way to play this bull market without the headaches of stock picking. You're getting professional management, instant diversification, and leveraged exposure to silver's next move - all for the price of a single trade.

Is SILJ perfect? No ETF is. In a silver bear market, these juniors will get crushed. But if you believe silver's headed higher - and with central banks hoarding gold while industrial demand for silver explodes, not to mention Silver now being added to the critical minerals list, SILJ might be a smart way to position yourself.

If you’re willing to take a long-term view, the risk/reward setup looks compelling. Just remember: silver juniors are even more volatile than gold juniors. Size your position accordingly.

That’s a wrap for this Tuesday, folks. Have a great next couple of days and I’ll see you on Thursday.

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Rick Adams
Founder, GoldBuzz
rick@goldbuzz.com