FGDL vs. SLVO

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin Responsibly Sourced Gold ETF (FGDL) and Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO).

FGDL and SLVO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FGDL is a passively managed fund by Franklin Templeton that tracks the performance of the LBMA Gold Price PM ($/ozt). It was launched on Jun 30, 2022. SLVO is a passively managed fund by Credit Suisse that tracks the performance of the Credit Suisse NASDAQ Silver FLOWS 106 Index. It was launched on Apr 17, 2013. Both FGDL and SLVO 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

FGDL vs. SLVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Responsibly Sourced Gold ETF (FGDL) and Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO). The values are adjusted to include any dividend payments, if applicable.

FGDL vs. SLVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FGDL Franklin Responsibly Sourced Gold ETF	7.93%	64.15%	12.06%
SLVO Credit Suisse X-Links Silver Shares Covered Call ETN	6.93%	71.20%	1.24%

Returns By Period

In the year-to-date period, FGDL achieves a 7.93% return, which is significantly higher than SLVO's 6.93% return.

FGDL

• 1D: 3.39%
• 1M: -11.22%
• YTD: 7.93%
• 6M: 20.34%
• 1Y: 48.63%
• 3Y*: 33.11%
• 5Y*: —
• 10Y*: —

SLVO

• 1D: 6.33%
• 1M: -7.38%
• YTD: 6.93%
• 6M: 24.18%
• 1Y: 56.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FGDL vs. SLVO - Expense Ratio Comparison

FGDL has a 0.15% expense ratio, which is lower than SLVO's 0.65% expense ratio.

SLVO

Credit Suisse X-Links Silver Shares Covered Call ETN

FGDL

Franklin Responsibly Sourced Gold ETF

Return for Risk

FGDL vs. SLVO — Risk / Return Rank

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

FGDL

FGDL Risk / Return Rank: 85
FGDL Sharpe Ratio Rank: 87
FGDL Sortino Ratio Rank: 84
FGDL Omega Ratio Rank: 83
FGDL Calmar Ratio Rank: 87
FGDL Martin Ratio Rank: 85

SLVO

SLVO Risk / Return Rank: 91
SLVO Sharpe Ratio Rank: 90
SLVO Sortino Ratio Rank: 84
SLVO Omega Ratio Rank: 93
SLVO Calmar Ratio Rank: 92
SLVO Martin Ratio Rank: 94

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.

FGDL vs. SLVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Responsibly Sourced Gold ETF (FGDL) and Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO). 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.

	FGDL	SLVO	Difference
Sharpe ratio Return per unit of total volatility	1.75	1.91	-0.17
Sortino ratio Return per unit of downside risk	2.16	2.17	-0.01
Omega ratio Gain probability vs. loss probability	1.32	1.42	-0.10
Calmar ratio Return relative to maximum drawdown	2.64	3.26	-0.62
Martin ratio Return relative to average drawdown	9.52	14.30	-4.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGDL vs. SLVO - Sharpe Ratio Comparison

The current FGDL Sharpe Ratio is 1.75, which is comparable to the SLVO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of FGDL and SLVO, 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

	FGDL	SLVO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	1.91	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	1.59	-0.07

Correlation

The correlation between FGDL and SLVO is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FGDL vs. SLVO - Dividend Comparison

FGDL has not paid dividends to shareholders, while SLVO's dividend yield for the trailing twelve months is around 38.16%.

	TTM	2025	2024
FGDL Franklin Responsibly Sourced Gold ETF	0.00%	0.00%	0.00%
SLVO Credit Suisse X-Links Silver Shares Covered Call ETN	38.16%	19.35%	14.45%

Drawdowns

FGDL vs. SLVO - Drawdown Comparison

The maximum FGDL drawdown since its inception was -19.23%, which is greater than SLVO's maximum drawdown of -17.23%. Use the drawdown chart below to compare losses from any high point for FGDL and SLVO.

Drawdown Indicators

	FGDL	SLVO	Difference
Max Drawdown Largest peak-to-trough decline	-19.23%	-17.23%	-2.00%
Max Drawdown (1Y) Largest decline over 1 year	-19.23%	-17.23%	-2.00%
Current Drawdown Current decline from peak	-13.76%	-8.42%	-5.34%
Average Drawdown Average peak-to-trough decline	-3.34%	-2.99%	-0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.33%	3.93%	+1.40%

Volatility

FGDL vs. SLVO - Volatility Comparison

The current volatility for Franklin Responsibly Sourced Gold ETF (FGDL) is 10.75%, while Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO) has a volatility of 14.86%. This indicates that FGDL experiences smaller price fluctuations and is considered to be less risky than SLVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGDL	SLVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.75%	14.86%	-4.11%
Volatility (6M) Calculated over the trailing 6-month period	24.37%	27.43%	-3.06%
Volatility (1Y) Calculated over the trailing 1-year period	28.00%	29.61%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.96%	25.44%	-6.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	25.44%	-6.48%