EWN vs. SLV
EWN (iShares MSCI Netherlands ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - EWN is a Europe Equities fund tracking the MSCI Netherlands Investable Market Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, EWN returned 14.24%/yr vs 12.68%/yr for SLV. At a 0.29 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.
Performance
EWN vs. SLV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EWN achieves a 20.24% return, which is significantly higher than SLV's -13.49% return. Over the past 10 years, EWN has outperformed SLV with an annualized return of 14.24%, while SLV has yielded a comparatively lower 12.68% annualized return.
EWN
- 1D
- -3.91%
- 1M
- 2.60%
- YTD
- 20.24%
- 6M
- 20.65%
- 1Y
- 34.25%
- 3Y*
- 21.10%
- 5Y*
- 9.47%
- 10Y*
- 14.24%
SLV
- 1D
- -5.40%
- 1M
- -18.48%
- YTD
- -13.49%
- 6M
- -14.05%
- 1Y
- 69.08%
- 3Y*
- 39.38%
- 5Y*
- 18.31%
- 10Y*
- 12.68%
EWN vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWN iShares MSCI Netherlands ETF | 20.24% | 34.87% | 1.67% | 22.08% | -24.43% | 22.74% | 23.23% | 32.45% | -15.37% | 33.73% |
SLV iShares Silver Trust | -13.49% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between EWN and SLV is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.29 |
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
EWN vs. SLV — Risk / Return Rank
EWN
SLV
EWN vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Netherlands ETF (EWN) 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.
| EWN | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.25 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 1.47 | +1.13 |
| Martin ratioReturn relative to average drawdown | 9.83 | 3.16 | +6.66 |
Loading charts...
Drawdowns
EWN vs. SLV - Drawdown Comparison
The maximum EWN drawdown since its inception was -65.22%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for EWN and SLV.
Loading charts...
Drawdown Indicators
| EWN | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.22% | -76.28% | +11.06% |
Max Drawdown (1Y)Largest decline over 1 year | -13.24% | -47.23% | +33.99% |
Max Drawdown (3Y)Largest decline over 3 years | -19.77% | -47.23% | +27.46% |
Max Drawdown (5Y)Largest decline over 5 years | -43.57% | -47.23% | +3.66% |
Max Drawdown (10Y)Largest decline over 10 years | -43.57% | -47.23% | +3.66% |
Current DrawdownCurrent decline from peak | -4.14% | -47.23% | +43.09% |
Average DrawdownAverage peak-to-trough decline | -16.32% | -44.65% | +28.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 21.91% | -18.42% |
Volatility
EWN vs. SLV - Volatility Comparison
The current volatility for iShares MSCI Netherlands ETF (EWN) is 8.69%, while iShares Silver Trust (SLV) has a volatility of 14.34%. This indicates that EWN 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
| EWN | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.69% | 14.34% | -5.65% |
Volatility (6M)Calculated over the trailing 6-month period | 18.07% | 59.27% | -41.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.06% | 60.33% | -39.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.14% | 36.59% | -13.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.23% | 32.09% | -10.86% |
EWN vs. SLV - Expense Ratio Comparison
Both EWN and SLV have an expense ratio of 0.50%.
Dividends
EWN vs. SLV - Dividend Comparison
EWN's dividend yield for the trailing twelve months is around 4.18%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWN iShares MSCI Netherlands ETF | 4.18% | 5.03% | 2.18% | 1.79% | 1.98% | 1.01% | 0.78% | 2.57% | 2.40% | 1.68% | 2.71% | 1.92% |
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
EWN and SLV have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.34%) compared to EWN (8.69%). In terms of maximum drawdown, EWN dropped -65.22% vs SLV's -76.28%.
On 10-year performance, EWN leads with 14.24% vs 12.68% for SLV. Both ETFs have the same 0.50% expense ratio. On volatility, EWN has been the lower-risk option at 8.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EWN has performed better with a 14.24% return vs 12.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWN and SLV have the same expense ratio: 0.50% per year.
EWN has the higher dividend yield at 4.18%, compared with 0.00% for SLV.
EWN is categorized as Europe Equities, while SLV is Silver. EWN tracks MSCI Netherlands Investable Market Index, while SLV tracks LBMA Silver Price.
EWN currently has the higher Sharpe Ratio (1.64 vs 1.15), 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 EWN 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