iShares Silver Trust (SLV) Operating Expenses (2010 - 2026)
iShares Silver Trust (SLV) posted Operating Expenses of $44.4 million for Q2 2026, down 15.71% on a QoQ basis from $52.7 million in Q1 2026, and up 131.58% year-over-year from $19.2 million in Q2 2025.
Analysis
iShares Silver Trust (SLV) Operating Expenses (2010 - 2026) Analysis & Trends
iShares Silver Trust has reported Operating Expenses for 17 years, with the latest figure at $44.4 million in Q2 2026.
- On a quarterly basis, Operating Expenses rose 131.58% year-over-year to $44.4 million in Q2 2026; TTM through Jun 2026 was $156.0 million, a 116.1% increase from a year earlier, with the FY2025 full-year figure at $95.5 million, up 51.01% from the prior year.
- Operating Expenses was $44.4 million for Q2 2026 at iShares Silver Trust, down from $52.7 million in the prior quarter.
- The five-year high for Operating Expenses was $52.7 million in Q1 2026, with the low at $11.9 million in Q3 2022.
- Average Operating Expenses over 5 years is $20.3 million, with a median of $16.0 million recorded in 2022.
- The sharpest annual moves came in 2022 and 2026: Operating Expenses slumped 30.13% in 2022, then jumped 200.97% in 2026.
- Over 5 years, Operating Expenses stood at $12.7 million in 2022, then rose by 2.0% to $12.9 million in 2023, then surged by 43.47% to $18.6 million in 2024, then surged by 87.64% to $34.8 million in 2025, then rose by 27.67% to $44.4 million in 2026.
- The last three Operating Expenses figures came in at $44.4 million (Q2 2026), $52.7 million (Q1 2026), and $34.8 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 169.89 Bn | 156.02 Bn | - | 4.62 Bn |
| 2 | Spdr Gold Trust | 144.81 Bn | -413.20 Bn | - | 149.76 Mn |
| 3 | Ishares Gold Trust | 30.30 Bn | -29.81 Bn | - | 43.37 Mn |
| 4 | World Gold Trust | 29.28 Bn | -73.79 Bn | - | 7.55 Mn |
| 5 | Principal Financial | 24.84 Bn | -28.13 Bn | 1.91 Bn | 3.41 Bn |
| 6 | iShares Silver Trust | 22.15 Bn | -6.05 Bn | - | 44.44 Mn |
| 7 | Franklin Resources | 17.84 Bn | 14.12 Bn | - | 2.14 Bn |
| 8 | Invesco | 14.63 Bn | 13.72 Bn | 1.79 Bn | 1.46 Bn |
| 9 | Affiliated Managers | 9.51 Bn | 9.10 Bn | - | 486.70 Mn |
| 10 | Voya Financial | 9.31 Bn | 6.96 Bn | 1.34 Bn | 1.86 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 44.44 Mn |
| Mar 31, 2026 | 52.73 Mn |
| Dec 31, 2025 | 34.81 Mn |
| Sep 30, 2025 | 24.02 Mn |
| Jun 30, 2025 | 19.19 Mn |
| Mar 31, 2025 | 17.52 Mn |
| Dec 31, 2024 | 18.55 Mn |
| Sep 30, 2024 | 16.93 Mn |
| Jun 30, 2024 | 15.25 Mn |
| Mar 31, 2024 | 12.54 Mn |
| Dec 31, 2023 | 12.93 Mn |
| Sep 30, 2023 | 13.38 Mn |
| Jun 30, 2023 | 14.12 Mn |
| Mar 31, 2023 | 13.13 Mn |
| Dec 31, 2022 | 12.68 Mn |
| Sep 30, 2022 | 11.85 Mn |
| Jun 30, 2022 | 15.94 Mn |
| Mar 31, 2022 | 15.97 Mn |
| Dec 31, 2021 | 16.02 Mn |
| Sep 30, 2021 | 16.97 Mn |