Sprott Physical Gold and Silver Trust

CEF
as of 5/10/2021

NAV

$19.75

NAV Daily Change

+$0.02
+0.11%

NAV YTD Return

-1.00%

Management Expense Ratio*

0.51%

Market Price

$19.39

Premium/Discount

-1.80%

Total Oz. of Gold

1,475,787

Total Oz. of Silver

59,984,529

Total Net Asset Value

$4.34 Billion

Overview

CEF

Investment Objective

The Sprott Physical Gold and Silver Trust
(CEF) is a closed-end trust that invests in
unencumbered and fully-allocated physical
gold and silver bullion in London Good
Delivery bar “form”.

Goal

Provide a secure, convenient and exchange-traded investment alternative for investors who want to hold physical gold and silver without the inconvenience that is typical of a direct investment in physical bullion.

Why Invest in CEF?

  1. Fully Allocated Gold and Silver
  2. Redeemable for Metals
  3. Trustworthy Storage
  4. Potential Tax Advantage
  5. Easy to Buy, Sell and Own
  6. A Liquid Investment

Metals Allocation
as of March 31, 2021

Total Gold Ounces Held* 1,482,640
Total Silver Ounces Held* 60,229,739
Market Value of Gold Held $2.53 Billion/63.2%
Market Value of Silver Held $1.47 Billion/36.7%
Total Assets of Trust $4.00 Billion
*
Based on trade date.

Key Facts

Tickers CEF (NYSE Arca)
CEF.U (TSX $US)
CEF (TSX $CA)
Fund Type Closed-End Trust
ISIN CA85208R1010
CUSIP 85208R101
Inception Date January 16, 2018
Issuer Sprott Physical Gold and Silver Trust
Bullion Custodian The Royal Canadian Mint
Manager Sprott Asset Management LP
Trustee RBC Investor Services
Auditor KPMG

Fees & Expenses

Management Expense Ratio* 0.51%
*
Management Expense Ratio (MER) is based on total expenses (excluding commissions and other portfolio transaction costs) and is expressed as an annualized percentage of the average daily NAV for the year ended 12/31/2020.

Sprott Trusts in Two Minutes

Featured Insight

Nature's First Green is Silver
5/4/2021
Gold

Nature's First Green is Silver

April provided precious metals markets redemption from a challenging first quarter, with gold finishing the month up 3.60% and silver climbing 6.14%.

Pricing

CEF

Previous Close NYSE Arca ($US)

Net Asset Value per Unit $19.75
Previous Market Price Close $19.39
Premium/Discount -1.80%
Units Outstanding 220,189,551
Total Ounces of Gold held within Trust* 1,475,787
Total Ounces of Silver held within Trust* 59,984,529
Market Value of Gold & Silver Held by Trust $4,347,736,562
Total Net Asset Value of Trust $4,347,685,267
(In U.S. Dollars. Data last updated Monday, May 10, 2021 6:00 PM EST)
*Based on trade date.

Previous Close TSX ($CA)

Net Asset Value per Unit $23.87
Previous Closing Market Price $23.43
Premium/Discount -1.86%
(In Canadian Dollars. Data last updated Monday, May 10, 2021 6:00 PM EST)

Today's Pricing

The market is now closed

The market is now closed

The market is now closed

High-Low NAV History ($US)*
as of February 28, 2021

High Net Asset Value per Unit $21.80
Low Net Asset Value per Unit $12.02
Premium/Discount Range +1.39% to -6.42%
*
Since Inception Jan. 16, 2018.

Performance

CEF

Total Returns (% $US) as of March 31, 2021

  1 MO* YTD* 1 YR 3 YR Since
Inception1
CEF (NAV)**
-4.22 -9.24 25.58 9.90 8.40
CEF (Market Price)**
-4.56 -10.23 18.81 9.53 7.73
Benchmark: Spot Gold Price2
-1.52 -10.04 8.28 8.81 7.85
Benchmark: Spot Silver Price2
-8.44 -7.52 74.73 14.25 11.24
*
Not annualized.
**
The NAV performance calculation is based on the USD NAV and the market price performance calculation is based on the USD closing price on the NYSE Arca.
1
Inception Date: Jan. 16, 2018.
2
The gold spot price is measured by the Bloomberg GOLDS Comdty Spot Price; the silver spot price is measured by the Bloomberg SILV Comdty Spot Price. Each price represents the fluctuating market price for one ounce of bullion bought or sold on commodity exchanges contracted for immediate payment and delivery. Each price is determined by the forward month’s futures contract with the most volume.
  1 MO* YTD* 1 YR 3 YR Since
Inception1
CEF (NAV)**
-4.22 -9.24 25.58 32.74 29.52
CEF (Market Price)**
-4.56 -10.23 18.81 31.39 26.97
Benchmark: Spot Gold Price2
-1.52 -10.04 8.28 28.83 27.43
Benchmark: Spot Silver Price2
-8.44 -7.52 74.73 49.12 40.72
*
Not annualized.
**
The NAV performance calculation is based on the USD NAV and the market price performance calculation is based on the USD closing price on the NYSE Arca.
1
Inception Date: Jan. 16, 2018.
2
The gold spot price is measured by the Bloomberg GOLDS Comdty Spot Price; the silver spot price is measured by the Bloomberg SILV Comdty Spot Price. Each price represents the fluctuating market price for one ounce of bullion bought or sold on commodity exchanges contracted for immediate payment and delivery. Each price is determined by the forward month’s futures contract with the most volume.
Cumulative return is the return on the investment in total.
  2020 2019
CEF (NAV)
31.33 16.54
CEF (Market Price)
31.99 16.91
Benchmark: Spot Gold Price
25.12 18.31
Benchmark: Spot Silver Price
47.89 15.21
 
The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the Fund incurred all expenses and fees, investment returns would have been reduced. Investment returns and Fund share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.
FPO Panel 2 Returns

Growth of $10,000 Since Inception

User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.

Inception date: January 16, 2018.
The chart shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the Trust or returns on investment in the Trust.

Market Price vs. Net Asset Value Since Inception

User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.

Inception date: January 16, 2018.

Market Price - Historical Premium/Discount to Net Asset Value

User Options: Mouse over the graph to view detailed daily values; click and drag your mouse to choose specific time frames. Click on the "Reset Zoom" button to return to the full timeline view.

Inception date: January 16, 2018.
 Sprott Info

What is a premium/discount?

The amount the Trust's closing price is trading above or below the reported NAV (net asset value), expressed as a percentage of the NAV. When the Trust's closing price is greater than the Trust's NAV, it is trading at a “premium” and the percentage is expressed as a positive number. When the Trust's closing price is less than the Trust's NAV, it is trading at a “discount” and the percentage is expressed as a negative number.

 

Frequency Distribution of Premiums and Discounts

These bar charts show the frequency (y axis, number of trading days) at which the closing price of the Trust was at a premium or a discount (x axis) to its daily net asset value (NAV). The charts represent past performance and cannot be used to predict future results.

Investor Details

CEF
  • Gold Bar List by Serial Number

  • Silver Bar List by Serial Number

    View a complete list of the serial numbers for each bullion bar held at secure third party storage location in Canada on behalf of the Sprott Physical Gold and Silver Trust. Please note that all bars held within the Trust are London Good Delivery. The bars are segregated within the vault and fully unencumbered.

How to Obtain Physical Certificates

In the United States, shareholders can contact the Computershare call center at 800.446.2617 or go to computershare.com and access a transfer form by creating an account.

In Canada, shareholders can direct their broker to withdraw units from CDS Clearing and Depository Services Inc. When the broker puts in the withdrawal, the transfer agent in Canada, TSX Trust Company, will issue physical certificates to the broker.

 

How to Hold Units in Your Name

Once you have purchased Trust units through a third-party financial professional, the Direct Registration System (DRS) option gives you the ability to transfer the units you own from your broker to the Trust's transfer agents (Computershare for U.S. unitholders and TSX Trust Company for Canadian unitholders). DRS is the electronic or book-entry form of security ownership offered by and only through transfer agents and allows a unitholder to hold Trust units in that holder’s name directly as opposed to electronic security ownership through a broker. The DRS option went into effect on October 5, 2017, for unitholders of each of the Trusts (read press release).

 

How to Redeem for Physical Bullion

Sprott Physical Bullion Trust unitholders have the right to redeem for physical metals on a monthly basis, subject to meeting the minimum redemption amount. To submit a request for physical redemption, a unitholder must complete the required redemption form for the specific Trust from which they wish to redeem units.

 

 

Bullion Calculator

Please enter a quantity.
*

*

This calculator is designed to give you an idea of how much physical is represented for a given amount of Units of the based on the latest available market price and net asset value. This calculator is for illustrative purposes only and should not be used to formulate transactions of any kind, including physical redemptions.

Metal per Unit

CEF 1 unit = Oz. Gold
1 unit = Oz. Silver
PHYS 1 unit = Oz. Gold
PSLV 1 unit = Oz. Silver
SPPP 1 unit = Oz. Platinum
1 unit = Oz. Palladium

Literature

CEF

Tax & Resources

CEF

Tax Benefits

For U.S. investors, Sprott Physical Bullion Trusts potentially provide favorable tax advantages versus owning metals directly or precious metals ETFs.

PFIC Statements

“PFIC” stands for “Passive Foreign Investment Company.” A foreign corporation such as the Sprott Physical Bullion Trusts (“the Trusts”) will be treated as a PFIC for any taxable year if either of the following is true: (a) more than 75% of its gross income is from passive sources or (b) at least 50% of its assets are held for the production of passive income.

 

Sign-up to have your annual PFIC statements delivered to you electronically.

 Tax Guide

How do precious metals & taxes work?

Tax Scale

The Sprott Physical Bullion Trusts potentially provide favorable tax advantages versus owning metals directly or precious metals ETFs.

 

How to Purchase

CEF

CEF

Ticker Symbols CEF (NYSE Arca)
CEF.U (TSX $US)
CEF (TSX $CA)
CUSIP 85208R101
ISIN CA85208R1010

 

Sprott Physical Bullion Trusts trade on the NYSE Arca in U.S. dollars and on the TSX in both U.S. and Canadian dollars.

Trust units can be purchased or sold like any regular equity security through financial advisors, full-service brokers and discount brokers. Your units will be held in your name through the third-party financial professional. Units can be purchased or sold through Sprott financial professionals: in the U.S. via Sprott Global Resource Investments at 800.477.7853 and in Canada via Sprott Capital Partners at 855.943.8099. Both firms are affiliates of the Trusts.

 

Contact Us

CEF

Please contact the Sprott Team at 888.622.1813 for more information, or answers to your questions. You can also email us at bullion@sprott.com.


The Sprott Physical Gold and Silver Trust is generally exposed to multiple risks that have been both identified and described in the prospectus. Please refer to the prospectus for a description of these risks.

Past performance is not an indication of future results. All data is in U.S. dollars unless otherwise noted. The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be tax, legal, accounting or professional advice. Readers should consult with their own accountants and/or lawyers for advice on their specific circumstances before taking any action. Sprott Asset Management LP is the investment manager to the Sprott Physical Gold and Silver Trust (the “Trust”). Important information about the Trust, including the investment objectives and strategies, applicable management fees, and expenses, is contained in the prospectus. Please read the prospectus carefully before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or operational charges or income taxes payable by any unitholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an offer or solicitation to anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds managed by Sprott Asset Management LP. These views are not to be considered as investment advice nor should they be considered a recommendation to buy or sell.

 

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