GLTR vs. SI=F

Last updated Aug 2, 2026

GLTR (abrdn Physical Precious Metals Basket Shares ETF) is Precious Metals fund tracking the ETFS Physical Precious Metals Basket Index, while SI=F (Silver Futures) is an asset. Over the past 10 years, GLTR returned 9.97%/yr vs 10.83%/yr for SI=F. Their correlation of 0.82 means they have usually moved in the same direction.

Performance

GLTR vs. SI=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Precious Metals Basket Shares ETF (GLTR) and Silver Futures (SI=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLTR achieves a -11.69% return, which is significantly higher than SI=F's -17.62% return. Over the past 10 years, GLTR has underperformed SI=F with an annualized return of 9.97%, while SI=F has yielded a comparatively higher 10.83% annualized return.

GLTR

• 1D: -1.67%
• 1M: -2.53%
• 6M: -22.36%
• YTD: -11.69%
• 1Y: 28.95%
• 3Y*: 26.80%
• 5Y*: 13.53%
• 10Y*: 9.97%
• ALL TIME*: 5.70%

SI=F

• 1D: -1.77%
• 1M: -4.73%
• 6M: -26.20%
• YTD: -17.62%
• 1Y: 57.05%
• 3Y*: 33.64%
• 5Y*: 17.75%
• 10Y*: 10.83%
• ALL TIME*: 9.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GLTR abrdn Physical Precious Metals Basket Shares ETF	$15.88M	$12.93M	$13.80M
SI=F Silver Futures	$174.90K	$95.56K	$68.34K

GLTR vs. SI=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLTR abrdn Physical Precious Metals Basket Shares ETF	-11.69%	87.25%	20.63%	2.01%	-0.25%	-9.60%	29.52%	20.96%	-2.85%	12.94%
SI=F Silver Futures	-17.62%	142.34%	21.33%	-0.04%	2.29%	-11.41%	47.70%	15.52%	-9.54%	7.05%

Correlation

The correlation between GLTR and SI=F is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Oct 22, 2010	0.82

The correlation between GLTR and SI=F has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

Return for Risk

GLTR vs. SI=F — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GLTR

GLTR Risk / Return Rank: 30
GLTR Sharpe Ratio Rank: 32
GLTR Sortino Ratio Rank: 30
GLTR Omega Ratio Rank: 37
GLTR Calmar Ratio Rank: 26
GLTR Martin Ratio Rank: 23

SI=F

SI=F Risk / Return Rank: 37
SI=F Sharpe Ratio Rank: 29
SI=F Sortino Ratio Rank: 39
SI=F Omega Ratio Rank: 62
SI=F Calmar Ratio Rank: 30
SI=F Martin Ratio Rank: 25

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GLTR vs. SI=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Precious Metals Basket Shares ETF (GLTR) and Silver Futures (SI=F). 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.

	GLTR	SI=F	Difference
Sharpe ratio: Return per unit of total volatility	0.79	0.89	-0.10
Sortino ratio: Return per unit of downside risk	1.15	1.40	-0.26
Omega ratio: Gain probability vs. loss probability	1.18	1.22	-0.04
Calmar ratio: Return relative to maximum drawdown	0.82	1.13	-0.31
Martin ratio: Return relative to average drawdown	1.65	2.18	-0.53

GLTR vs. SI=F - Sharpe Ratio Comparison

The current GLTR Sharpe Ratio is 0.79, which is comparable to the SI=F Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of GLTR and SI=F, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GLTR vs. SI=F - Drawdown Comparison

The maximum GLTR drawdown since its inception was -55.70%, smaller than the maximum SI=F drawdown of -75.85%. Use the drawdown chart below to compare losses from any high point for GLTR and SI=F.

Drawdown Indicators

	GLTR	SI=F	Difference
Max Drawdown Largest peak-to-trough decline	-55.70%	-75.85%	+20.15%
Max Drawdown (1Y) Largest decline over 1 year	-37.87%	-51.43%	+13.56%
Max Drawdown (3Y) Largest decline over 3 years	-37.87%	-51.43%	+13.56%
Max Drawdown (5Y) Largest decline over 5 years	-37.87%	-51.43%	+13.56%
Max Drawdown (10Y) Largest decline over 10 years	-37.87%	-51.43%	+13.56%
Current Drawdown Current decline from peak	-36.34%	-49.80%	+13.46%
Average Drawdown Average peak-to-trough decline	-28.88%	-36.22%	+7.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.83%	26.71%	-7.88%

Volatility

GLTR vs. SI=F - Volatility Comparison

The current volatility for abrdn Physical Precious Metals Basket Shares ETF (GLTR) is 7.95%, while Silver Futures (SI=F) has a volatility of 11.20%. This indicates that GLTR experiences smaller price fluctuations and is considered to be less risky than SI=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLTR	SI=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.95%	11.20%	-3.25%
Volatility (6M) Calculated over the trailing 6-month period	34.42%	55.38%	-20.96%
Volatility (1Y) Calculated over the trailing 1-year period	39.52%	65.35%	-25.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.18%	39.17%	-14.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.80%	34.43%	-13.63%

Frequently Asked Questions

Can I hold both GLTR and SI=F in my portfolio?

GLTR and SI=F have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLTR or SI=F?

SI=F has higher volatility (11.20%) compared to GLTR (7.95%). In terms of maximum drawdown, GLTR dropped -55.70% vs SI=F's -75.85%.

Which has better risk-adjusted returns?

SI=F currently has the higher Sharpe Ratio (0.89 vs 0.79), 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.