How Much Silver Exposure Does SIL Really Provide?

Seeking Alpha contributor Ben Kramer-Miller analyzed the Global X Silver Miners ETF (ARCA:SIL) and found that it does not seem to provide investors with “the exposure and leverage to the silver price that they likely hoped for.”

His concerns include:

• Silver Wheaton (SLW) recently made a large deal to buy gold from Vale (VALE).
• Hecla Mining (HL) recently purchased Aurizon Mines (AZK), which is a gold producer.
• McEwen Mining (MUX) has a lot of estimated future gold and copper production.
• SilverCrest Mines (SVLC) gets most of its revenues from gold.

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