FOVL vs. SLV

Last updated Jun 4, 2026

FOVL (iShares Focused Value Factor ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - FOVL is a Mid Cap Value Equities fund tracking the MSCI USA IMI Focused Value Factor Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. At a 0.12 correlation, their price movements are largely independent. FOVL charges 0.25%/yr vs 0.50%/yr for SLV.

Performance

FOVL vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Focused Value Factor ETF (FOVL) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FOVL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SLV

• 1D: -2.62%
• 1M: 0.41%
• YTD: 2.78%
• 6M: 24.76%
• 1Y: 110.59%
• 3Y*: 45.06%
• 5Y*: 20.76%
• 10Y*: 15.55%

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

FOVL vs. SLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FOVL iShares Focused Value Factor ETF	0.00%	6.43%	22.87%	17.72%	-9.39%	40.14%	-13.20%	6.22%
SLV iShares Silver Trust	2.78%	144.66%	20.89%	-1.09%	2.37%	-12.45%	47.30%	15.03%

Correlation

The correlation between FOVL and SLV is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019	0.12

The correlation between FOVL and SLV shifts across timeframes, from -0.04 (1 year) to 0.16 (5 years), reflecting how their relationship changes across market environments.

FOVL vs. SLV - Sectors Allocation Comparison

Sectors	FOVL	SLV
Financial Services	44.6%	-
Industrials	12.8%	-
Energy	7.7%	-
Utilities	7.5%	-
Consumer Cyclical	5.2%	-
Consumer Defensive	5.0%	-
Technology	5.0%	-
Healthcare	4.9%	-
Communication Services	4.7%	-
Real Estate	2.6%	-
Basic Materials	-	100.0%

Return for Risk

FOVL vs. SLV — Risk / Return Rank

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

SLV

SLV Risk / Return Rank: 47
SLV Sharpe Ratio Rank: 54
SLV Sortino Ratio Rank: 40
SLV Omega Ratio Rank: 56
SLV Calmar Ratio Rank: 52
SLV Martin Ratio Rank: 36

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.

FOVL vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Focused Value Factor ETF (FOVL) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FOVL	SLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.89	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.25	—

Drawdowns

Drawdown Indicators

	FOVL	SLV	Difference
Max Drawdown Largest peak-to-trough decline	—	-76.28%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-42.45%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-42.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-42.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.81%	—
Current Drawdown Current decline from peak	—	-37.30%	—
Average Drawdown Average peak-to-trough decline	—	-44.67%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	19.67%	—

Volatility

Volatility by Period

	FOVL	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	58.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	58.90%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	36.15%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	31.84%	—

FOVL vs. SLV - Expense Ratio Comparison

FOVL has a 0.25% expense ratio, which is lower than SLV's 0.50% expense ratio.

Dividends

FOVL vs. SLV - Dividend Comparison

FOVL's dividend yield for the trailing twelve months is around 0.55%, while SLV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FOVL iShares Focused Value Factor ETF	0.55%	1.36%	2.08%	2.59%	3.38%	2.80%	2.88%	2.09%
SLV iShares Silver Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FOVL and SLV in my portfolio?

FOVL and SLV have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FOVL or SLV?

On fees, FOVL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FOVL or SLV?

FOVL is cheaper with a 0.25% expense ratio, compared with 0.50% for SLV.

Which ETF pays a higher dividend yield, FOVL or SLV?

FOVL has the higher dividend yield at 0.55%, compared with 0.00% for SLV.

What is the main difference between FOVL and SLV?

FOVL is categorized as Mid Cap Value Equities, while SLV is Silver. FOVL tracks MSCI USA IMI Focused Value Factor Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.25% for FOVL and 0.50% for SLV.