IBIJ vs. SLV

Last updated Jun 30, 2026

IBIJ (iShares iBonds Oct 2033 Term TIPS ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - IBIJ is a Inflation-Protected Bonds fund managed by iShares, while SLV is a Silver fund tracking the LBMA Silver Price. Over the past year, IBIJ returned 4.51% vs 61.50% for SLV. At a 0.14 correlation, their price movements are largely independent. IBIJ charges 0.10%/yr vs 0.50%/yr for SLV.

Performance

IBIJ vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2033 Term TIPS ETF (IBIJ) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBIJ achieves a 1.61% return, which is significantly higher than SLV's -18.22% return.

IBIJ

• 1D: 0.09%
• 1M: -0.33%
• YTD: 1.61%
• 6M: 1.33%
• 1Y: 4.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SLV

• 1D: -1.13%
• 1M: -22.90%
• YTD: -18.22%
• 6M: -20.19%
• 1Y: 61.50%
• 3Y*: 36.11%
• 5Y*: 16.81%
• 10Y*: 10.89%

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

IBIJ vs. SLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBIJ iShares iBonds Oct 2033 Term TIPS ETF	1.61%	8.59%	0.69%	4.98%
SLV iShares Silver Trust	-18.22%	144.66%	20.89%	2.06%

Correlation

The correlation between IBIJ and SLV is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023	0.14

Return for Risk

IBIJ vs. SLV — Risk / Return Rank

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

IBIJ

IBIJ Risk / Return Rank: 38
IBIJ Sharpe Ratio Rank: 35
IBIJ Sortino Ratio Rank: 35
IBIJ Omega Ratio Rank: 32
IBIJ Calmar Ratio Rank: 44
IBIJ Martin Ratio Rank: 44

SLV

SLV Risk / Return Rank: 29
SLV Sharpe Ratio Rank: 30
SLV Sortino Ratio Rank: 28
SLV Omega Ratio Rank: 39
SLV Calmar Ratio Rank: 27
SLV Martin Ratio Rank: 23

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.

IBIJ vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2033 Term TIPS ETF (IBIJ) 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.

	IBIJ	SLV	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.02	+0.13
Sortino ratio: Return per unit of downside risk	1.70	1.44	+0.26
Omega ratio: Gain probability vs. loss probability	1.20	1.23	-0.03
Calmar ratio: Return relative to maximum drawdown	1.95	1.21	+0.74
Martin ratio: Return relative to average drawdown	6.23	2.71	+3.53

IBIJ vs. SLV - Sharpe Ratio Comparison

The current IBIJ Sharpe Ratio is 1.14, which is comparable to the SLV Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of IBIJ and SLV, 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

IBIJ vs. SLV - Drawdown Comparison

The maximum IBIJ drawdown since its inception was -5.27%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for IBIJ and SLV.

Drawdown Indicators

	IBIJ	SLV	Difference
Max Drawdown Largest peak-to-trough decline	-5.27%	-76.28%	+71.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.32%	-50.97%	+48.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-50.97%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-50.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.97%	—
Current Drawdown Current decline from peak	-0.61%	-50.11%	+49.50%
Average Drawdown Average peak-to-trough decline	-1.29%	-44.66%	+43.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	22.80%	-22.08%

Volatility

IBIJ vs. SLV - Volatility Comparison

The current volatility for iShares iBonds Oct 2033 Term TIPS ETF (IBIJ) is 1.51%, while iShares Silver Trust (SLV) has a volatility of 15.47%. This indicates that IBIJ 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.

Volatility by Period

	IBIJ	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.51%	15.47%	-13.96%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	59.51%	-56.62%
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	60.86%	-56.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.87%	36.74%	-30.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.87%	32.16%	-26.29%

IBIJ vs. SLV - Expense Ratio Comparison

IBIJ has a 0.10% expense ratio, which is lower than SLV's 0.50% expense ratio.

Dividends

IBIJ vs. SLV - Dividend Comparison

IBIJ's dividend yield for the trailing twelve months is around 3.93%, while SLV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
IBIJ iShares iBonds Oct 2033 Term TIPS ETF	3.93%	4.66%	4.42%	0.60%
SLV iShares Silver Trust	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBIJ and SLV in my portfolio?

IBIJ and SLV have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBIJ or SLV?

SLV has higher volatility (15.47%) compared to IBIJ (1.51%). In terms of maximum drawdown, IBIJ dropped -5.27% vs SLV's -76.28%.

Which ETF is better, IBIJ or SLV?

On 1-year performance, SLV leads with 61.50% vs 4.51% for IBIJ. On fees, IBIJ is cheaper at 0.10% per year. On volatility, IBIJ has been the lower-risk option at 1.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBIJ or SLV?

Over the 1-year period, SLV has performed better with a 61.50% return vs 4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBIJ or SLV?

IBIJ is cheaper with a 0.10% expense ratio, compared with 0.50% for SLV.

Which ETF pays a higher dividend yield, IBIJ or SLV?

IBIJ has the higher dividend yield at 3.93%, compared with 0.00% for SLV.

What is the main difference between IBIJ and SLV?

IBIJ is categorized as Inflation-Protected Bonds, while SLV is Silver. Their fees differ too: 0.10% for IBIJ and 0.50% for SLV.

Which has better risk-adjusted returns?

IBIJ currently has the higher Sharpe Ratio (1.14 vs 1.02), 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.