ECNS vs. SLV
ECNS (iShares MSCI China Small-Cap ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - ECNS is a China Equities fund tracking the MSCI China Small Cap Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, ECNS returned 0.73%/yr vs 10.58%/yr for SLV. At a 0.23 correlation, their price movements are largely independent. ECNS charges 0.59%/yr vs 0.50%/yr for SLV.
Performance
ECNS vs. SLV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ECNS achieves a -13.41% return, which is significantly higher than SLV's -19.03% return. Over the past 10 years, ECNS has underperformed SLV with an annualized return of 0.73%, while SLV has yielded a comparatively higher 10.58% annualized return.
ECNS
- 1D
- -2.61%
- 1M
- -7.53%
- 6M
- -18.85%
- YTD
- -13.41%
- 1Y
- -8.94%
- 3Y*
- 3.56%
- 5Y*
- -8.73%
- 10Y*
- 0.73%
SLV
- 1D
- -3.32%
- 1M
- -14.90%
- 6M
- -32.46%
- YTD
- -19.03%
- 1Y
- 48.90%
- 3Y*
- 31.65%
- 5Y*
- 16.48%
- 10Y*
- 10.58%
ECNS vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | -13.41% | 36.49% | 5.64% | -23.05% | -24.58% | 2.11% | 25.42% | 7.84% | -18.27% | 27.55% |
SLV iShares Silver Trust | -19.03% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between ECNS and SLV is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2010 | 0.23 |
Over the past year, ECNS and SLV have become more correlated (0.44) than their long-term average of 0.23, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ECNS vs. SLV — Risk / Return Rank
ECNS
SLV
ECNS vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) and iShares Silver Trust (SLV). 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.
| ECNS | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.20 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 0.96 | -1.31 |
| Martin ratioReturn relative to average drawdown | -0.77 | 1.99 | -2.76 |
Loading charts...
Drawdowns
ECNS vs. SLV - Drawdown Comparison
The maximum ECNS drawdown since its inception was -63.43%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for ECNS and SLV.
Loading charts...
Drawdown Indicators
| ECNS | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.43% | -76.28% | +12.85% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -50.97% | +25.24% |
Max Drawdown (3Y)Largest decline over 3 years | -31.72% | -50.97% | +19.25% |
Max Drawdown (5Y)Largest decline over 5 years | -58.38% | -50.97% | -7.41% |
Max Drawdown (10Y)Largest decline over 10 years | -63.43% | -50.97% | -12.46% |
Current DrawdownCurrent decline from peak | -44.26% | -50.61% | +6.35% |
Average DrawdownAverage peak-to-trough decline | -29.46% | -44.67% | +15.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.64% | 24.60% | -12.96% |
Volatility
ECNS vs. SLV - Volatility Comparison
The current volatility for iShares MSCI China Small-Cap ETF (ECNS) is 6.17%, while iShares Silver Trust (SLV) has a volatility of 14.50%. This indicates that ECNS experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ECNS | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.17% | 14.50% | -8.33% |
Volatility (6M)Calculated over the trailing 6-month period | 13.93% | 57.45% | -43.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.99% | 61.10% | -40.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.47% | 36.85% | -7.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.80% | 32.17% | -6.37% |
ECNS vs. SLV - Expense Ratio Comparison
ECNS has a 0.59% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
ECNS vs. SLV - Dividend Comparison
ECNS's dividend yield for the trailing twelve months is around 6.79%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | 6.79% | 6.20% | 5.98% | 4.89% | 3.54% | 4.87% | 3.59% | 3.23% | 6.16% | 3.18% | 4.29% | 3.58% |
SLV iShares 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
ECNS and SLV have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.50%) compared to ECNS (6.17%). In terms of maximum drawdown, ECNS dropped -63.43% vs SLV's -76.28%.
On 10-year performance, SLV leads with 10.58% vs 0.73% for ECNS. On fees, SLV is cheaper at 0.50% per year. On volatility, ECNS has been the lower-risk option at 6.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLV has performed better with a 10.58% return vs 0.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.59% for ECNS.
ECNS has the higher dividend yield at 6.79%, compared with 0.00% for SLV.
ECNS is categorized as China Equities, while SLV is Silver. ECNS tracks MSCI China Small Cap Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.59% for ECNS and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (0.81 vs -0.43), 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.
Find the right allocation for ECNS and SLV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer