ICPI vs. SLV
ICPI (iShares 0-1 Year TIPS Bond ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - ICPI is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. At a correlation of -0.14, they often move in opposite directions. ICPI charges 0.09%/yr vs 0.50%/yr for SLV.
Performance
ICPI vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, ICPI achieves a 2.42% return, which is significantly higher than SLV's -19.62% return.
ICPI
- 1D
- -0.06%
- 1M
- -0.07%
- YTD
- 2.42%
- 6M
- 2.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLV
- 1D
- -7.09%
- 1M
- -24.25%
- YTD
- -19.62%
- 6M
- -20.61%
- 1Y
- 58.79%
- 3Y*
- 36.01%
- 5Y*
- 16.45%
- 10Y*
- 11.85%
ICPI vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ICPI iShares 0-1 Year TIPS Bond ETF | 2.42% | 0.32% |
SLV iShares Silver Trust | -19.62% | 38.69% |
Correlation
The correlation between ICPI and SLV is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | -0.14 |
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Return for Risk
ICPI vs. SLV — Risk / Return Rank
ICPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SLV
ICPI vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year TIPS Bond ETF (ICPI) 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.
| ICPI | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.16 | — |
| Martin ratioReturn relative to average drawdown | — | 2.66 | — |
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Drawdowns
ICPI vs. SLV - Drawdown Comparison
The maximum ICPI drawdown since its inception was -0.34%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for ICPI and SLV.
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Drawdown Indicators
| ICPI | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.34% | -76.28% | +75.94% |
Max Drawdown (1Y)Largest decline over 1 year | — | -50.97% | — |
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 DrawdownCurrent decline from peak | -0.34% | -50.97% | +50.63% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -44.66% | +44.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 22.14% | — |
Volatility
ICPI vs. SLV - Volatility Comparison
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Volatility by Period
| ICPI | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 15.67% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 59.65% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.96% | 60.78% | -59.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.96% | 36.73% | -35.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.96% | 32.16% | -31.20% |
ICPI vs. SLV - Expense Ratio Comparison
ICPI has a 0.09% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
ICPI vs. SLV - Dividend Comparison
ICPI's dividend yield for the trailing twelve months is around 1.80%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
ICPI iShares 0-1 Year TIPS Bond ETF | 1.80% | 0.54% |
SLV iShares Silver Trust | 0.00% | 0.00% |
Frequently Asked Questions
ICPI and SLV have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICPI is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICPI is cheaper with a 0.09% expense ratio, compared with 0.50% for SLV.
ICPI has the higher dividend yield at 1.80%, compared with 0.00% for SLV.
ICPI is categorized as Inflation-Protected Bonds, while SLV is Silver. ICPI tracks ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.09% for ICPI and 0.50% for SLV.
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