IBTF vs. SLV

Last updated Jun 3, 2026

IBTF (iShares iBonds Dec 2025 Term Treasury ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - IBTF is a Government Bonds fund tracking the ICE 2025 Maturity US Treasury Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 5 years, IBTF returned 0.90%/yr vs 21.71%/yr for SLV. At a 0.18 correlation, their price movements are largely independent. IBTF charges 0.07%/yr vs 0.50%/yr for SLV.

Performance

IBTF vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2025 Term Treasury ETF (IBTF) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBTF

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.09%
• 1Y: 2.14%
• 3Y*: 3.66%
• 5Y*: 0.90%
• 10Y*: —

SLV

• 1D: 0.47%
• 1M: -0.44%
• YTD: 5.54%
• 6M: 27.97%
• 1Y: 115.23%
• 3Y*: 46.35%
• 5Y*: 21.71%
• 10Y*: 15.85%

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

IBTF vs. SLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IBTF iShares iBonds Dec 2025 Term Treasury ETF	0.00%	3.81%	4.60%	4.12%	-6.39%	-2.31%	3.60%
SLV iShares Silver Trust	5.54%	144.66%	20.89%	-1.09%	2.37%	-12.45%	58.21%

Correlation

The correlation between IBTF and SLV is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020	0.18

The correlation between IBTF and SLV shifts across timeframes, from 0.03 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IBTF vs. SLV — Risk / Return Rank

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

IBTF

IBTF Risk / Return Rank: 99
IBTF Sharpe Ratio Rank: 99
IBTF Sortino Ratio Rank: 99
IBTF Omega Ratio Rank: 100
IBTF Calmar Ratio Rank: 100
IBTF Martin Ratio Rank: 99

SLV

SLV Risk / Return Rank: 52
SLV Sharpe Ratio Rank: 57
SLV Sortino Ratio Rank: 42
SLV Omega Ratio Rank: 59
SLV Calmar Ratio Rank: 59
SLV Martin Ratio Rank: 41

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.

IBTF vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2025 Term Treasury ETF (IBTF) 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.

	IBTF	SLV	Difference
Sharpe ratio Return per unit of total volatility	7.08	1.97	+5.11
Sortino ratio Return per unit of downside risk	20.07	2.12	+17.96
Omega ratio Gain probability vs. loss probability	6.23	1.36	+4.87
Calmar ratio Return relative to maximum drawdown	64.70	2.98	+61.71
Martin ratio Return relative to average drawdown	219.02	6.48	+212.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBTF vs. SLV - Sharpe Ratio Comparison

The current IBTF Sharpe Ratio is 7.08, which is higher than the SLV Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of IBTF 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.

Sharpe Ratios by Period

	IBTF	SLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.08	1.97	+5.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.60	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.25	+0.20

Drawdowns

IBTF vs. SLV - Drawdown Comparison

The maximum IBTF drawdown since its inception was -10.45%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for IBTF and SLV.

Drawdown Indicators

	IBTF	SLV	Difference
Max Drawdown Largest peak-to-trough decline	-10.45%	-76.28%	+65.83%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-42.45%	+42.41%
Max Drawdown (3Y) Largest decline over 3 years	-0.67%	-42.45%	+41.78%
Max Drawdown (5Y) Largest decline over 5 years	-9.53%	-42.45%	+32.92%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.81%	—
Current Drawdown Current decline from peak	0.00%	-35.62%	+35.62%
Average Drawdown Average peak-to-trough decline	-3.33%	-44.67%	+41.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	19.53%	-19.52%

Volatility

IBTF vs. SLV - Volatility Comparison

The current volatility for iShares iBonds Dec 2025 Term Treasury ETF (IBTF) is 0.00%, while iShares Silver Trust (SLV) has a volatility of 16.47%. This indicates that IBTF 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

	IBTF	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	16.47%	-16.47%
Volatility (6M) Calculated over the trailing 6-month period	0.19%	58.29%	-58.10%
Volatility (1Y) Calculated over the trailing 1-year period	0.36%	59.03%	-58.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.38%	36.15%	-33.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.56%	31.83%	-29.27%

IBTF vs. SLV - Expense Ratio Comparison

IBTF has a 0.07% expense ratio, which is lower than SLV's 0.50% expense ratio.

Dividends

IBTF vs. SLV - Dividend Comparison

IBTF's dividend yield for the trailing twelve months is around 2.08%, while SLV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
IBTF iShares iBonds Dec 2025 Term Treasury ETF	2.08%	3.83%	4.32%	4.03%	1.93%	0.57%	0.59%
SLV iShares Silver Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBTF and SLV in my portfolio?

IBTF and SLV have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBTF or SLV?

SLV has higher volatility (16.47%) compared to IBTF (0.00%). In terms of maximum drawdown, IBTF dropped -10.45% vs SLV's -76.28%.

Which ETF is better, IBTF or SLV?

On 5-year performance, SLV leads with 21.71% vs 0.90% for IBTF. On fees, IBTF is cheaper at 0.07% per year. On volatility, IBTF has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBTF or SLV?

Over the 5-year period, SLV has performed better with a 21.71% return vs 0.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBTF or SLV?

IBTF is cheaper with a 0.07% expense ratio, compared with 0.50% for SLV.

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

IBTF has the higher dividend yield at 2.08%, compared with 0.00% for SLV.

What is the main difference between IBTF and SLV?

IBTF is categorized as Government Bonds, while SLV is Silver. IBTF tracks ICE 2025 Maturity US Treasury Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.07% for IBTF and 0.50% for SLV.

Which has better risk-adjusted returns?

IBTF currently has the higher Sharpe Ratio (7.08 vs 1.97), 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.