3SIL.L vs. SSLV.L

Last updated Jun 5, 2026

3SIL.L (WisdomTree Silver 3x Daily Leveraged) and SSLV.L (Invesco Physical Silver ETC) are both Silver funds - 3SIL.L tracks the Solactive Silver Commodity Futures SL Index (3x) while SSLV.L tracks the LBMA Silver Price. Both are passively managed. Over the past 10 years, 3SIL.L returned -1.65%/yr vs 15.85%/yr for SSLV.L. With a 0.98 correlation, they move nearly in lockstep. 3SIL.L charges 0.99%/yr vs 0.19%/yr for SSLV.L.

Performance

3SIL.L vs. SSLV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Silver 3x Daily Leveraged (3SIL.L) and Invesco Physical Silver ETC (SSLV.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 3SIL.L achieves a -58.34% return, which is significantly lower than SSLV.L's 2.90% return. Over the past 10 years, 3SIL.L has underperformed SSLV.L with an annualized return of -1.65%, while SSLV.L has yielded a comparatively higher 15.85% annualized return.

3SIL.L

• 1D: 0.90%
• 1M: -7.85%
• YTD: -58.34%
• 6M: -31.50%
• 1Y: 141.28%
• 3Y*: 48.06%
• 5Y*: 0.53%
• 10Y*: -1.65%

SSLV.L

• 1D: 0.44%
• 1M: 0.09%
• YTD: 2.90%
• 6M: 29.12%
• 1Y: 113.89%
• 3Y*: 45.99%
• 5Y*: 21.31%
• 10Y*: 15.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

3SIL.L vs. SSLV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
3SIL.L WisdomTree Silver 3x Daily Leveraged	-58.34%	692.77%	16.75%	-30.27%	-22.02%	-53.86%	43.62%	27.24%	-36.45%	-5.75%
SSLV.L Invesco Physical Silver ETC	2.90%	147.68%	21.10%	-0.93%	3.59%	-12.95%	45.93%	16.33%	-8.71%	3.69%

Correlation

The correlation between 3SIL.L and SSLV.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.98

The correlation between 3SIL.L and SSLV.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

3SIL.L vs. SSLV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

3SIL.L

3SIL.L Risk / Return Rank: 34
3SIL.L Sharpe Ratio Rank: 23
3SIL.L Sortino Ratio Rank: 42
3SIL.L Omega Ratio Rank: 50
3SIL.L Calmar Ratio Rank: 32
3SIL.L Martin Ratio Rank: 23

SSLV.L

SSLV.L Risk / Return Rank: 52
SSLV.L Sharpe Ratio Rank: 60
SSLV.L Sortino Ratio Rank: 48
SSLV.L Omega Ratio Rank: 58
SSLV.L Calmar Ratio Rank: 57
SSLV.L Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

3SIL.L vs. SSLV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Silver 3x Daily Leveraged (3SIL.L) and Invesco Physical Silver ETC (SSLV.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	3SIL.L	SSLV.L	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.99	-1.19
Sortino ratio: Return per unit of downside risk	2.08	2.32	-0.24
Omega ratio: Gain probability vs. loss probability	1.31	1.35	-0.04
Calmar ratio: Return relative to maximum drawdown	1.57	2.79	-1.22
Martin ratio: Return relative to average drawdown	2.86	6.08	-3.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3SIL.L vs. SSLV.L - Sharpe Ratio Comparison

The current 3SIL.L Sharpe Ratio is 0.81, which is lower than the SSLV.L Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of 3SIL.L and SSLV.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	3SIL.L	SSLV.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	1.99	-1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.60	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.02	0.51	-0.53
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	0.11	-0.33

Drawdowns

3SIL.L vs. SSLV.L - Drawdown Comparison

The maximum 3SIL.L drawdown since its inception was -99.33%, which is greater than SSLV.L's maximum drawdown of -74.62%. Use the drawdown chart below to compare losses from any high point for 3SIL.L and SSLV.L.

Drawdown Indicators

	3SIL.L	SSLV.L	Difference
Max Drawdown Largest peak-to-trough decline	-99.33%	-74.62%	-24.71%
Max Drawdown (1Y) Largest decline over 1 year	-89.36%	-40.61%	-48.75%
Max Drawdown (3Y) Largest decline over 3 years	-89.36%	-40.61%	-48.75%
Max Drawdown (5Y) Largest decline over 5 years	-89.36%	-40.61%	-48.75%
Max Drawdown (10Y) Largest decline over 10 years	-92.57%	-42.74%	-49.83%
Current Drawdown Current decline from peak	-95.98%	-35.24%	-60.74%
Average Drawdown Average peak-to-trough decline	-94.34%	-52.25%	-42.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.22%	18.65%	+30.57%

Volatility

3SIL.L vs. SSLV.L - Volatility Comparison

WisdomTree Silver 3x Daily Leveraged (3SIL.L) has a higher volatility of 55.89% compared to Invesco Physical Silver ETC (SSLV.L) at 17.44%. This indicates that 3SIL.L's price experiences larger fluctuations and is considered to be riskier than SSLV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3SIL.L	SSLV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	55.89%	17.44%	+38.45%
Volatility (6M) Calculated over the trailing 6-month period	179.25%	54.09%	+125.16%
Volatility (1Y) Calculated over the trailing 1-year period	174.29%	56.84%	+117.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	109.78%	35.50%	+74.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.45%	30.89%	+64.56%

3SIL.L vs. SSLV.L - Expense Ratio Comparison

3SIL.L has a 0.99% expense ratio, which is higher than SSLV.L's 0.19% expense ratio.

Dividends

3SIL.L vs. SSLV.L - Dividend Comparison

Neither 3SIL.L nor SSLV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 3SIL.L and SSLV.L in my portfolio?

With a correlation of 0.99, 3SIL.L and SSLV.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, 3SIL.L or SSLV.L?

On fees, SSLV.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 3SIL.L or SSLV.L?

SSLV.L is cheaper with a 0.19% expense ratio, compared with 0.99% for 3SIL.L.

What is the main difference between 3SIL.L and SSLV.L?

3SIL.L tracks Solactive Silver Commodity Futures SL Index (3x), while SSLV.L tracks LBMA Silver Price. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.99% for 3SIL.L and 0.19% for SSLV.L.