GARP vs. SLV
GARP (iShares MSCI USA Quality GARP ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - GARP is a Quality Factor fund tracking the MSCI USA Quality GARP Select Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 5 years, GARP returned 17.48%/yr vs 17.25%/yr for SLV. Their 0.22 correlation means their historical movements had little consistent relationship. GARP charges 0.15%/yr vs 0.50%/yr for SLV.
Performance
GARP vs. SLV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GARP achieves a 16.89% return, which is significantly higher than SLV's -18.72% return.
GARP
- 1D
- 0.66%
- 1M
- -1.22%
- 6M
- 14.45%
- YTD
- 16.89%
- 1Y
- 31.75%
- 3Y*
- 28.85%
- 5Y*
- 17.48%
- 10Y*
- —
- ALL TIME*
- 20.07%
SLV
- 1D
- -2.13%
- 1M
- -4.83%
- 6M
- -30.59%
- YTD
- -18.72%
- 1Y
- 55.88%
- 3Y*
- 32.93%
- 5Y*
- 17.25%
- 10Y*
- 10.33%
- ALL TIME*
- 7.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $25.65M | $25.43M | $23.00M | |
| $716.70M | $772.79M | $1.26B |
GARP vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GARP iShares MSCI USA Quality GARP ETF | 16.89% | 21.49% | 37.42% | 42.86% | -26.75% | 27.99% | 26.51% |
SLV iShares Silver Trust | -18.72% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 46.16% |
Correlation
The correlation between GARP and SLV is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2020 | 0.22 |
The correlation between GARP and SLV shifts across timeframes, from 0.22 (5 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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
GARP vs. SLV — Risk / Return Rank
GARP
SLV
GARP vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) 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.
| GARP | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 1.10 | +1.10 |
| Martin ratioReturn relative to average drawdown | 7.99 | 2.10 | +5.89 |
Loading charts...
Drawdowns
GARP vs. SLV - Drawdown Comparison
The maximum GARP drawdown since its inception was -31.34%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for GARP and SLV.
Loading charts...
Drawdown Indicators
| GARP | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.34% | -76.28% | +44.94% |
Max Drawdown (1Y)Largest decline over 1 year | -13.69% | -52.28% | +38.59% |
Max Drawdown (3Y)Largest decline over 3 years | -23.73% | -52.28% | +28.55% |
Max Drawdown (5Y)Largest decline over 5 years | -30.61% | -52.28% | +21.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.28% | — |
Current DrawdownCurrent decline from peak | -4.34% | -50.42% | +46.08% |
Average DrawdownAverage peak-to-trough decline | -7.27% | -44.68% | +37.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.75% | 27.31% | -23.56% |
Volatility
GARP vs. SLV - Volatility Comparison
The current volatility for iShares MSCI USA Quality GARP ETF (GARP) is 5.68%, while iShares Silver Trust (SLV) has a volatility of 11.23%. This indicates that GARP 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
| GARP | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.68% | 11.23% | -5.55% |
Volatility (6M)Calculated over the trailing 6-month period | 16.18% | 55.44% | -39.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.02% | 61.35% | -41.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.34% | 36.97% | -14.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.92% | 32.22% | -8.30% |
GARP vs. SLV - Expense Ratio Comparison
GARP has a 0.15% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
GARP vs. SLV - Dividend Comparison
GARP's dividend yield for the trailing twelve months is around 0.27%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GARP iShares MSCI USA Quality GARP ETF | 0.27% | 0.31% | 0.38% | 0.75% | 1.85% | 0.67% | 0.75% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GARP and SLV have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (11.23%) compared to GARP (5.68%). In terms of maximum drawdown, GARP dropped -31.34% vs SLV's -76.28%.
On 5-year performance, GARP leads with 17.48% vs 17.25% for SLV. On fees, GARP is cheaper at 0.15% per year. On volatility, GARP has been the lower-risk option at 5.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GARP has performed better with a 17.48% return vs 17.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GARP is cheaper with a 0.15% expense ratio, compared with 0.50% for SLV.
GARP has the higher dividend yield at 0.27%, compared with 0.00% for SLV.
GARP is categorized as Quality Factor, while SLV is Silver. GARP tracks MSCI USA Quality GARP Select Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.15% for GARP and 0.50% for SLV.
GARP currently has the higher Sharpe Ratio (1.50 vs 0.94), 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 GARP 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