PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

UBS ETRACS Silver Shares Covered Call ETN (SLVO) Sharpe Ratio: 1.52

ETF · Currency in USD · Last updated Jun 23, 2026

The UBS ETRACS Silver Shares Covered Call ETN (SLVO) is an exchange-traded note linked to the Credit Suisse NASDAQ Silver FLOWS 106 Index, which tracks a covered call strategy on the iShares Silver Trust (SLV). The index reflects changes in the price of SLV shares and monthly option premiums received from notional sales of call options on SLV, less transaction costs. SLVO has an expense ratio of 0.65%, pays monthly distributions, and was launched on April 17, 2013. Originally issued by Credit Suisse, the ETN was transferred to UBS AG following UBS's acquisition of Credit Suisse in 2023.

SLVO's Sharpe Ratio of 1.52 indicates that for each unit of volatility, it generates 1.52 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 23, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

SLVO Sharpe Ratio Rank

SLVO Sharpe Ratio Rank: 44.544
Average

SLVO ranks above 44.5% of all investments in our database based on Sharpe Ratio over the past 12 months, showing balanced returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns are proportional to volatility—neither strong nor weak
  • Evaluate whether the volatility profile aligns with your risk tolerance
  • Review higher-ranked alternatives in the same category
  • Monitor rank direction to identify improving or deteriorating trends

SLVO Sharpe Ratio Market Positioning

The chart shows SLVO's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.86 or lower
  • Yellow zone (middle 50%): 0.86 to 2.31
  • Green zone (top 25%): 2.31 or higher
  • Top 1%: 7.38+
  • Median: 1.67 — half of all investments score higher

How it compares to other similar ETFs

The table compares UBS ETRACS Silver Shares Covered Call ETN's Sharpe Ratio with other ETFs in the Silver, Derivative Income, Precious Metals category across multiple time periods, showing how SLVO's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 23, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
CHPYYieldMax Semiconductor Portfolio Option Income ETF4.88
AMDYYieldMax AMD Option Income Strategy ETF3.98
GOOYYieldMax GOOGL Option Income Strategy ETF3.53
GOOPKurv Yield Premium Strategy Google ETF3.16
TSMYYieldMax TSM Option Income Strategy ETF3.10
THTASoFi Enhanced Yield ETF2.95
FTQIFirst Trust Nasdaq BuyWrite Income ETF2.79
QYLDGlobal X NASDAQ 100 Covered Call ETF2.73
TYLGGlobal X Information Technology Covered Call & Growth ETF2.72
XYLDGlobal X S&P 500 Covered Call ETF2.60
SLVOUBS ETRACS Silver Shares Covered Call ETN1.52

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows SLVO's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when SLVO consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

Loading charts...

Sharpe Ratio Calculator

How does SLVO fit in your portfolio?

Add your other holdings to see your portfolio's Sharpe Ratio and find out.

Analyze Your Portfolio