EMGF vs. SLV

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) and iShares Silver Trust (SLV).

EMGF and SLV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMGF is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Diversified Multiple-Factor Index. It was launched on Dec 8, 2015. SLV is a passively managed fund by iShares that tracks the performance of the LBMA Silver Price. It was launched on Apr 21, 2006. Both EMGF and SLV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EMGF vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

EMGF vs. SLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF	4.46%	31.41%	9.06%	10.86%	-16.55%	6.65%	10.27%	20.96%	-19.71%	42.37%
SLV iShares Silver Trust	5.77%	144.66%	20.89%	-1.09%	2.37%	-12.45%	47.30%	14.88%	-9.19%	5.82%

Returns By Period

In the year-to-date period, EMGF achieves a 4.46% return, which is significantly lower than SLV's 5.77% return. Over the past 10 years, EMGF has underperformed SLV with an annualized return of 8.81%, while SLV has yielded a comparatively higher 16.87% annualized return.

EMGF

• 1D: 3.78%
• 1M: -9.16%
• YTD: 4.46%
• 6M: 8.38%
• 1Y: 32.72%
• 3Y*: 17.94%
• 5Y*: 6.70%
• 10Y*: 8.81%

SLV

• 1D: 7.27%
• 1M: -19.83%
• YTD: 5.77%
• 6M: 60.82%
• 1Y: 119.88%
• 3Y*: 45.50%
• 5Y*: 24.10%
• 10Y*: 16.87%

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

EMGF vs. SLV - Expense Ratio Comparison

EMGF has a 0.45% expense ratio, which is lower than SLV's 0.50% expense ratio.

SLV

iShares Silver Trust

EMGF

iShares Edge MSCI Multifactor Emerging Markets ETF

Return for Risk

EMGF vs. SLV — Risk / Return Rank

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

EMGF

EMGF Risk / Return Rank: 84
EMGF Sharpe Ratio Rank: 84
EMGF Sortino Ratio Rank: 85
EMGF Omega Ratio Rank: 84
EMGF Calmar Ratio Rank: 84
EMGF Martin Ratio Rank: 84

SLV

SLV Risk / Return Rank: 89
SLV Sharpe Ratio Rank: 93
SLV Sortino Ratio Rank: 86
SLV Omega Ratio Rank: 92
SLV Calmar Ratio Rank: 90
SLV Martin Ratio Rank: 83

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.

EMGF vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) 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.

	EMGF	SLV	Difference
Sharpe ratio Return per unit of total volatility	1.65	2.11	-0.46
Sortino ratio Return per unit of downside risk	2.23	2.20	+0.03
Omega ratio Gain probability vs. loss probability	1.32	1.39	-0.07
Calmar ratio Return relative to maximum drawdown	2.40	2.82	-0.43
Martin ratio Return relative to average drawdown	9.27	8.79	+0.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMGF vs. SLV - Sharpe Ratio Comparison

The current EMGF Sharpe Ratio is 1.65, which is comparable to the SLV Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of EMGF and SLV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EMGF	SLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	2.11	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.69	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.54	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.25	+0.21

Correlation

The correlation between EMGF and SLV is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EMGF vs. SLV - Dividend Comparison

EMGF's dividend yield for the trailing twelve months is around 2.41%, while SLV has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF	2.41%	2.52%	3.42%	5.94%	4.04%	2.48%	1.95%	2.63%	2.73%	1.94%	2.04%
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%

Drawdowns

EMGF vs. SLV - Drawdown Comparison

The maximum EMGF drawdown since its inception was -40.23%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for EMGF and SLV.

Drawdown Indicators

	EMGF	SLV	Difference
Max Drawdown Largest peak-to-trough decline	-40.23%	-76.28%	+36.05%
Max Drawdown (1Y) Largest decline over 1 year	-13.54%	-42.45%	+28.91%
Max Drawdown (5Y) Largest decline over 5 years	-28.60%	-42.45%	+13.85%
Max Drawdown (10Y) Largest decline over 10 years	-40.23%	-42.81%	+2.58%
Current Drawdown Current decline from peak	-10.27%	-35.47%	+25.20%
Average Drawdown Average peak-to-trough decline	-10.19%	-44.76%	+34.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	13.63%	-10.13%

Volatility

EMGF vs. SLV - Volatility Comparison

The current volatility for iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) is 10.58%, while iShares Silver Trust (SLV) has a volatility of 18.91%. This indicates that EMGF 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.

Volatility by Period

	EMGF	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.58%	18.91%	-8.33%
Volatility (6M) Calculated over the trailing 6-month period	14.81%	57.27%	-42.46%
Volatility (1Y) Calculated over the trailing 1-year period	19.90%	57.07%	-37.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	35.28%	-18.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.23%	31.36%	-12.13%