CMI vs. PSLV

Last updated Jun 4, 2026

CMI (Cummins Inc.) is a stock, while PSLV (Sprott Physical Silver Trust) is Silver fund tracking the No Index (Physical Silver). Over the past 10 years, CMI returned 22.76%/yr vs 13.97%/yr for PSLV. At a 0.14 correlation, their price movements are largely independent.

Performance

CMI vs. PSLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cummins Inc. (CMI) and Sprott Physical Silver Trust (PSLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMI achieves a 34.54% return, which is significantly higher than PSLV's -1.78% return. Over the past 10 years, CMI has outperformed PSLV with an annualized return of 22.76%, while PSLV has yielded a comparatively lower 13.97% annualized return.

CMI

• 1D: 1.44%
• 1M: 4.22%
• YTD: 34.54%
• 6M: 35.24%
• 1Y: 113.66%
• 3Y*: 49.49%
• 5Y*: 23.76%
• 10Y*: 22.76%

PSLV

• 1D: -2.76%
• 1M: -1.61%
• YTD: -1.78%
• 6M: 18.46%
• 1Y: 100.09%
• 3Y*: 41.73%
• 5Y*: 18.43%
• 10Y*: 13.97%

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

CMI vs. PSLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMI Cummins Inc.	34.54%	49.36%	48.92%	1.72%	14.09%	-1.68%	30.50%	38.04%	-22.06%	32.74%
PSLV Sprott Physical Silver Trust	-1.78%	145.08%	19.43%	-1.94%	2.74%	-14.13%	42.81%	16.99%	-11.83%	4.28%

Correlation

The correlation between CMI and PSLV is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Nov 1, 2010	0.14

The correlation between CMI and PSLV shifts across timeframes, from 0.13 (10 years) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CMI : $94.71B PSLV : $14.73B
EPS CMI : $19.27 PSLV : $13.57
PE Ratio CMI : 35.41 PSLV : 1.71
PEG Ratio CMI : 0.39 PSLV : 0.00
PS Ratio CMI : 2.79 PSLV : 218.98
PB Ratio CMI : 7.67 PSLV : 0.90
Total Revenue (TTM) CMI : $33.89B PSLV : $64.19M
Gross Profit (TTM) CMI : $8.60B PSLV : $404.67M
EBITDA (TTM) CMI : $4.87B PSLV : $8.21B

Return for Risk

CMI vs. PSLV — Risk / Return Rank

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

CMI

CMI Risk / Return Rank: 95
CMI Sharpe Ratio Rank: 96
CMI Sortino Ratio Rank: 94
CMI Omega Ratio Rank: 94
CMI Calmar Ratio Rank: 95
CMI Martin Ratio Rank: 97

PSLV

PSLV Risk / Return Rank: 79
PSLV Sharpe Ratio Rank: 84
PSLV Sortino Ratio Rank: 74
PSLV Omega Ratio Rank: 81
PSLV Calmar Ratio Rank: 78
PSLV Martin Ratio Rank: 76

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.

CMI vs. PSLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cummins Inc. (CMI) 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.

	CMI	PSLV	Difference
Sharpe ratio: Return per unit of total volatility	3.51	1.72	+1.79
Sortino ratio: Return per unit of downside risk	3.99	1.96	+2.02
Omega ratio: Gain probability vs. loss probability	1.55	1.32	+0.23
Calmar ratio: Return relative to maximum drawdown	7.51	2.48	+5.03
Martin ratio: Return relative to average drawdown	27.80	5.50	+22.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMI vs. PSLV - Sharpe Ratio Comparison

The current CMI Sharpe Ratio is 3.51, which is higher than the PSLV Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of CMI and PSLV, 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

	CMI	PSLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.51	1.72	+1.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.52	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.45	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.17	+0.21

Drawdowns

CMI vs. PSLV - Drawdown Comparison

The maximum CMI drawdown since its inception was -75.66%, roughly equal to the maximum PSLV drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for CMI and PSLV.

Drawdown Indicators

	CMI	PSLV	Difference
Max Drawdown Largest peak-to-trough decline	-75.66%	-79.38%	+3.72%
Max Drawdown (1Y) Largest decline over 1 year	-15.23%	-40.65%	+25.42%
Max Drawdown (3Y) Largest decline over 3 years	-30.48%	-40.65%	+10.17%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-40.65%	+10.17%
Max Drawdown (10Y) Largest decline over 10 years	-44.05%	-42.79%	-1.26%
Current Drawdown Current decline from peak	-4.46%	-36.11%	+31.65%
Average Drawdown Average peak-to-trough decline	-22.23%	-58.15%	+35.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.10%	18.25%	-14.15%

Volatility

CMI vs. PSLV - Volatility Comparison

The current volatility for Cummins Inc. (CMI) is 13.65%, while Sprott Physical Silver Trust (PSLV) has a volatility of 16.57%. This indicates that CMI experiences smaller price fluctuations and is considered to be less risky than PSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMI	PSLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.65%	16.57%	-2.92%
Volatility (6M) Calculated over the trailing 6-month period	27.38%	57.35%	-29.97%
Volatility (1Y) Calculated over the trailing 1-year period	32.60%	58.49%	-25.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.97%	35.64%	-7.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.22%	31.14%	-2.92%

Dividends

CMI vs. PSLV - Dividend Comparison

CMI's dividend yield for the trailing twelve months is around 1.17%, while PSLV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMI Cummins Inc.	1.17%	1.50%	2.01%	2.71%	2.49%	2.57%	2.33%	2.74%	3.32%	2.38%	2.93%	3.99%
PSLV Sprott Physical Silver Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CMI and PSLV in my portfolio?

CMI and PSLV have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMI or PSLV?

PSLV has higher volatility (16.57%) compared to CMI (13.65%). In terms of maximum drawdown, CMI dropped -75.66% vs PSLV's -79.38%.

Which has better risk-adjusted returns?

CMI currently has the higher Sharpe Ratio (3.51 vs 1.72), 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.