HL vs. SIVR

Last updated Jul 21, 2026

HL (Hecla Mining Company) is a stock, while SIVR (abrdn Physical Silver Shares ETF) is Silver fund tracking the LBMA Silver Price ($/ozt). Over the past 10 years, HL returned 9.48%/yr vs 10.79%/yr for SIVR. A 0.67 correlation means they provide meaningful diversification when combined.

Performance

HL vs. SIVR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hecla Mining Company (HL) and abrdn Physical Silver Shares ETF (SIVR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HL achieves a -25.50% return, which is significantly lower than SIVR's -20.77% return. Over the past 10 years, HL has underperformed SIVR with an annualized return of 9.48%, while SIVR has yielded a comparatively higher 10.79% annualized return.

HL

• 1D: -0.28%
• 1M: -10.46%
• 6M: -46.14%
• YTD: -25.50%
• 1Y: 145.82%
• 3Y*: 35.33%
• 5Y*: 16.77%
• 10Y*: 9.48%
• ALL TIME*: -0.05%

SIVR

• 1D: 0.41%
• 1M: -14.32%
• 6M: -36.99%
• YTD: -20.77%
• 1Y: 47.51%
• 3Y*: 31.44%
• 5Y*: 17.05%
• 10Y*: 10.79%
• ALL TIME*: 8.29%

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

HL vs. SIVR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HL Hecla Mining Company	-25.50%	291.70%	2.82%	-12.93%	6.99%	-18.97%	91.83%	44.43%	-40.37%	-24.08%
SIVR abrdn Physical Silver Shares ETF	-20.77%	145.34%	21.08%	-0.91%	2.59%	-12.33%	47.52%	15.17%	-8.96%	5.97%

Correlation

The correlation between HL and SIVR is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jul 24, 2009	0.67

The correlation between HL and SIVR has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

Return for Risk

HL vs. SIVR — Risk / Return Rank

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

HL

HL Risk / Return Rank: 86
HL Sharpe Ratio Rank: 92
HL Sortino Ratio Rank: 87
HL Omega Ratio Rank: 85
HL Calmar Ratio Rank: 84
HL Martin Ratio Rank: 79

SIVR

SIVR Risk / Return Rank: 28
SIVR Sharpe Ratio Rank: 28
SIVR Sortino Ratio Rank: 29
SIVR Omega Ratio Rank: 37
SIVR Calmar Ratio Rank: 25
SIVR Martin Ratio Rank: 22

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.

HL vs. SIVR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hecla Mining Company (HL) 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.

	HL	SIVR	Difference
Sharpe ratio: Return per unit of total volatility	2.00	0.78	+1.22
Sortino ratio: Return per unit of downside risk	2.52	1.24	+1.28
Omega ratio: Gain probability vs. loss probability	1.31	1.19	+0.11
Calmar ratio: Return relative to maximum drawdown	2.63	0.91	+1.72
Martin ratio: Return relative to average drawdown	5.00	1.86	+3.14

HL vs. SIVR - Sharpe Ratio Comparison

The current HL Sharpe Ratio is 2.00, which is higher than the SIVR Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of HL and SIVR, 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

HL vs. SIVR - Drawdown Comparison

The maximum HL drawdown since its inception was -97.92%, which is greater than SIVR's maximum drawdown of -75.85%. Use the drawdown chart below to compare losses from any high point for HL and SIVR.

Drawdown Indicators

	HL	SIVR	Difference
Max Drawdown Largest peak-to-trough decline	-97.92%	-75.85%	-22.07%
Max Drawdown (1Y) Largest decline over 1 year	-55.81%	-52.27%	-3.54%
Max Drawdown (3Y) Largest decline over 3 years	-55.81%	-52.27%	-3.54%
Max Drawdown (5Y) Largest decline over 5 years	-55.81%	-52.27%	-3.54%
Max Drawdown (10Y) Largest decline over 10 years	-82.45%	-52.27%	-30.18%
Current Drawdown Current decline from peak	-55.06%	-51.66%	-3.40%
Average Drawdown Average peak-to-trough decline	-69.89%	-47.83%	-22.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.27%	25.61%	+3.66%

Volatility

HL vs. SIVR - Volatility Comparison

Hecla Mining Company (HL) has a higher volatility of 14.84% compared to abrdn Physical Silver Shares ETF (SIVR) at 12.61%. This indicates that HL's price experiences larger fluctuations and is considered to be riskier than SIVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HL	SIVR	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.84%	12.61%	+2.23%
Volatility (6M) Calculated over the trailing 6-month period	52.19%	56.54%	-4.35%
Volatility (1Y) Calculated over the trailing 1-year period	73.35%	61.21%	+12.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.45%	36.90%	+22.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.75%	32.21%	+30.54%

Dividends

HL vs. SIVR - Dividend Comparison

HL's dividend yield for the trailing twelve months is around 0.10%, while SIVR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HL Hecla Mining Company	0.10%	0.08%	0.81%	0.65%	0.40%	0.72%	0.25%	0.29%	0.42%	0.25%	0.19%	0.53%
SIVR abrdn Physical Silver Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HL and SIVR in my portfolio?

HL and SIVR have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HL or SIVR?

HL has higher volatility (14.84%) compared to SIVR (12.61%). In terms of maximum drawdown, HL dropped -97.92% vs SIVR's -75.85%.

Which has better risk-adjusted returns?

HL currently has the higher Sharpe Ratio (2.00 vs 0.78), 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.