AG vs. PSLV
AG (First Majestic Silver Corp.) is a stock, while PSLV (Sprott Physical Silver Trust) is Silver fund tracking the No Index (Physical Silver). Over the past 10 years, AG returned -1.67%/yr vs 8.96%/yr for PSLV. Their 0.68 correlation means they have sometimes moved together and sometimes differently.
Performance
AG vs. PSLV - Performance Comparison
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Returns By Period
In the year-to-date period, AG achieves a -9.68% return, which is significantly higher than PSLV's -20.51% return. Over the past 10 years, AG has underperformed PSLV with an annualized return of -1.67%, while PSLV has yielded a comparatively higher 8.96% annualized return.
AG
- 1D
- -4.21%
- 1M
- -11.80%
- 6M
- -27.79%
- YTD
- -9.68%
- 1Y
- 89.46%
- 3Y*
- 33.31%
- 5Y*
- 2.14%
- 10Y*
- -1.67%
- ALL TIME*
- 0.79%
PSLV
- 1D
- -1.98%
- 1M
- -0.42%
- 6M
- -28.81%
- YTD
- -20.51%
- 1Y
- 51.37%
- 3Y*
- 31.33%
- 5Y*
- 16.13%
- 10Y*
- 8.96%
- ALL TIME*
- 4.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $178.27M | $175.82M | $226.19M | |
| $153.19M | $135.68M | $193.34M |
AG vs. PSLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AG First Majestic Silver Corp. | -9.68% | 204.32% | -10.47% | -25.99% | -24.73% | -17.24% | 9.62% | 108.15% | -12.61% | -11.66% |
PSLV Sprott Physical Silver Trust | -20.51% | 145.08% | 19.43% | -1.94% | 2.74% | -14.13% | 42.81% | 16.99% | -11.83% | 4.28% |
Correlation
The correlation between AG and PSLV is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2010 | 0.68 |
The correlation between AG and PSLV has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
Fundamentals
AG:
$7.41B
PSLV:
$14.73B
AG:
$0.70
PSLV:
$13.57
AG:
21.51
PSLV:
1.71
AG:
0.38
PSLV:
0.00
AG:
4.54
PSLV:
218.98
AG:
2.54
PSLV:
0.90
AG:
$1.64B
PSLV:
$64.19M
AG:
$863.95M
PSLV:
$404.67M
AG:
$1.02B
PSLV:
$8.21B
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Return for Risk
AG vs. PSLV — Risk / Return Rank
AG
PSLV
AG vs. PSLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Majestic Silver Corp. (AG) and Sprott Physical Silver Trust (PSLV). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AG | PSLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 1.02 | +0.68 |
| Martin ratioReturn relative to average drawdown | 3.35 | 1.99 | +1.36 |
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Drawdowns
AG vs. PSLV - Drawdown Comparison
The maximum AG drawdown since its inception was -90.20%, which is greater than PSLV's maximum drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for AG and PSLV.
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Drawdown Indicators
| AG | PSLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.20% | -79.38% | -10.82% |
Max Drawdown (1Y)Largest decline over 1 year | -53.00% | -50.83% | -2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -53.00% | -50.83% | -2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -70.28% | -50.83% | -19.45% |
Max Drawdown (10Y)Largest decline over 10 years | -80.82% | -50.83% | -29.99% |
Current DrawdownCurrent decline from peak | -53.00% | -48.29% | -4.71% |
Average DrawdownAverage peak-to-trough decline | -59.08% | -58.02% | -1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.79% | 25.92% | +0.87% |
Volatility
AG vs. PSLV - Volatility Comparison
First Majestic Silver Corp. (AG) has a higher volatility of 18.02% compared to Sprott Physical Silver Trust (PSLV) at 11.59%. This indicates that AG's price experiences larger fluctuations and is considered to be riskier than PSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AG | PSLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.02% | 11.59% | +6.43% |
Volatility (6M)Calculated over the trailing 6-month period | 57.35% | 55.13% | +2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.97% | 61.20% | +13.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.17% | 36.54% | +25.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.87% | 31.54% | +30.33% |
Dividends
AG vs. PSLV - Dividend Comparison
AG's dividend yield for the trailing twelve months is around 0.24%, while PSLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
AG First Majestic Silver Corp. | 0.24% | 0.12% | 0.33% | 0.34% | 0.31% | 0.14% |
PSLV Sprott Physical Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AG and PSLV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AG has higher volatility (18.02%) compared to PSLV (11.59%). In terms of maximum drawdown, AG dropped -90.20% vs PSLV's -79.38%.
AG currently has the higher Sharpe Ratio (1.20 vs 0.84), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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