FXB vs. SLV
FXB (Invesco CurrencyShares® British Pound Sterling Trust) and SLV (iShares Silver Trust) are both exchange-traded funds - FXB is a Currency fund tracking the British Pound, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, FXB returned 0.00%/yr vs 15.55%/yr for SLV. At a 0.35 correlation, their price movements are largely independent. FXB charges 0.40%/yr vs 0.50%/yr for SLV.
Performance
FXB vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, FXB achieves a 0.38% return, which is significantly lower than SLV's 2.78% return.
FXB
- 1D
- -0.35%
- 1M
- -0.76%
- YTD
- 0.38%
- 6M
- 1.56%
- 1Y
- 1.45%
- 3Y*
- 5.39%
- 5Y*
- 0.78%
- 10Y*
- 0.00%
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%
FXB vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXB Invesco CurrencyShares® British Pound Sterling Trust | 0.38% | 10.37% | 1.35% | 8.58% | -10.45% | -1.54% | 2.87% | 3.87% | -5.75% | 9.10% |
SLV iShares Silver Trust | 2.78% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between FXB and SLV is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2006 | 0.35 |
The correlation between FXB and SLV shifts across timeframes, from 0.31 (1 year) to 0.42 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FXB vs. SLV — Risk / Return Rank
FXB
SLV
FXB vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® British Pound Sterling Trust (FXB) 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.
| FXB | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.35 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 2.62 | -2.30 |
| Martin ratioReturn relative to average drawdown | 0.67 | 5.64 | -4.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FXB | SLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 1.89 | -1.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.58 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.00 | 0.49 | -0.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.08 | 0.25 | -0.32 |
Drawdowns
FXB vs. SLV - Drawdown Comparison
The maximum FXB drawdown since its inception was -48.99%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for FXB and SLV.
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Drawdown Indicators
| FXB | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.99% | -76.28% | +27.29% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -42.45% | +37.92% |
Max Drawdown (3Y)Largest decline over 3 years | -8.44% | -42.45% | +34.01% |
Max Drawdown (5Y)Largest decline over 5 years | -24.83% | -42.45% | +17.62% |
Max Drawdown (10Y)Largest decline over 10 years | -29.30% | -42.81% | +13.51% |
Current DrawdownCurrent decline from peak | -29.55% | -37.30% | +7.75% |
Average DrawdownAverage peak-to-trough decline | -27.54% | -44.67% | +17.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 19.67% | -17.51% |
Volatility
FXB vs. SLV - Volatility Comparison
The current volatility for Invesco CurrencyShares® British Pound Sterling Trust (FXB) is 1.78%, while iShares Silver Trust (SLV) has a volatility of 16.30%. This indicates that FXB 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.
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Volatility by Period
| FXB | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 16.30% | -14.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.84% | 58.31% | -53.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.54% | 58.90% | -52.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.48% | 36.15% | -27.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.30% | 31.84% | -22.54% |
FXB vs. SLV - Expense Ratio Comparison
FXB has a 0.40% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
FXB vs. SLV - Dividend Comparison
FXB's dividend yield for the trailing twelve months is around 2.20%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FXB Invesco CurrencyShares® British Pound Sterling Trust | 2.20% | 2.44% | 3.25% | 2.59% | 0.29% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXB and SLV have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (16.30%) compared to FXB (1.78%). In terms of maximum drawdown, FXB dropped -48.99% vs SLV's -76.28%.
On 10-year performance, SLV leads with 15.55% vs 0.00% for FXB. On fees, FXB is cheaper at 0.40% per year. On volatility, FXB has been the lower-risk option at 1.78%. 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 15.55% return vs 0.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXB is cheaper with a 0.40% expense ratio, compared with 0.50% for SLV.
FXB has the higher dividend yield at 2.20%, compared with 0.00% for SLV.
FXB is categorized as Currency, while SLV is Silver. FXB tracks British Pound, while SLV tracks LBMA Silver Price. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for FXB and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (1.89 vs 0.22), 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.
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