GLDN.AX vs. SIVR
GLDN.AX (Ishares Physical Gold ETF) and SIVR (abrdn Physical Silver Shares ETF) are both exchange-traded funds - GLDN.AX is a Gold fund tracking the LBMA Gold Price PM AUD Index, while SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt). Both are passively managed. Over the past year, GLDN.AX returned 16.65% vs 46.19% for SIVR. At a 0.13 correlation, their price movements are largely independent. GLDN.AX charges 0.18%/yr vs 0.30%/yr for SIVR.
Performance
GLDN.AX vs. SIVR - Performance Comparison
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Different Trading Currencies
GLDN.AX is traded in AUD, while SIVR is traded in USD. To make them comparable, the SIVR values have been converted to AUD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLDN.AX achieves a -9.04% return, which is significantly higher than SIVR's -19.53% return.
GLDN.AX
- 1D
- 0.71%
- 1M
- -0.17%
- 6M
- -11.18%
- YTD
- -9.04%
- 1Y
- 16.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SIVR
- 1D
- -0.52%
- 1M
- -10.81%
- 6M
- -28.21%
- YTD
- -19.53%
- 1Y
- 46.19%
- 3Y*
- 34.99%
- 5Y*
- 19.38%
- 10Y*
- 12.19%
GLDN.AX vs. SIVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GLDN.AX Ishares Physical Gold ETF | -9.04% | 55.11% | 38.15% | -3.32% |
SIVR abrdn Physical Silver Shares ETF | -19.53% | 127.53% | 33.26% | -3.35% |
Correlation
The correlation between GLDN.AX and SIVR is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.13 |
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Return for Risk
GLDN.AX vs. SIVR — Risk / Return Rank
GLDN.AX
SIVR
GLDN.AX vs. SIVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ishares Physical Gold ETF (GLDN.AX) and abrdn Physical Silver Shares ETF (SIVR). 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.
| GLDN.AX | SIVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.22 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 1.04 | -0.44 |
| Martin ratioReturn relative to average drawdown | 1.36 | 2.13 | -0.76 |
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Drawdowns
GLDN.AX vs. SIVR - Drawdown Comparison
The maximum GLDN.AX drawdown since its inception was -26.62%, smaller than the maximum SIVR drawdown of -60.36%. Use the drawdown chart below to compare losses from any high point for GLDN.AX and SIVR.
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Drawdown Indicators
| GLDN.AX | SIVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.62% | -60.36% | +33.74% |
Max Drawdown (1Y)Largest decline over 1 year | -26.62% | -49.92% | +23.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -49.92% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -49.92% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.92% | — |
Current DrawdownCurrent decline from peak | -24.53% | -48.20% | +23.67% |
Average DrawdownAverage peak-to-trough decline | -5.03% | -32.91% | +27.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.01% | 24.48% | -12.47% |
Volatility
GLDN.AX vs. SIVR - Volatility Comparison
The current volatility for Ishares Physical Gold ETF (GLDN.AX) is 6.96%, while abrdn Physical Silver Shares ETF (SIVR) has a volatility of 12.79%. This indicates that GLDN.AX experiences smaller price fluctuations and is considered to be less risky than SIVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDN.AX | SIVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.96% | 12.79% | -5.83% |
Volatility (6M)Calculated over the trailing 6-month period | 21.78% | 53.71% | -31.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.08% | 57.28% | -32.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.58% | 33.29% | -13.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.58% | 29.05% | -9.47% |
GLDN.AX vs. SIVR - Expense Ratio Comparison
GLDN.AX has a 0.18% expense ratio, which is lower than SIVR's 0.30% expense ratio.
Dividends
GLDN.AX vs. SIVR - Dividend Comparison
Neither GLDN.AX nor SIVR has paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
GLDN.AX Ishares Physical Gold ETF | 0.00% | 0.07% |
SIVR abrdn Physical Silver Shares ETF | 0.00% | 0.00% |
Frequently Asked Questions
GLDN.AX and SIVR have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDN.AX is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDN.AX is cheaper with a 0.18% expense ratio, compared with 0.30% for SIVR.
GLDN.AX is categorized as Gold, while SIVR is Silver. GLDN.AX tracks LBMA Gold Price PM AUD Index, while SIVR tracks LBMA Silver Price ($/ozt). They also come from different issuers: iShares and abrdn. Their fees differ too: 0.18% for GLDN.AX and 0.30% for SIVR.
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