IGLD vs. SLVO

Last updated Jun 4, 2026

IGLD (FT Cboe Vest Gold Strategy Target Income ETF) and SLVO (UBS ETRACS Silver Shares Covered Call ETN) are both exchange-traded funds - IGLD is a Precious Metals fund actively managed by First Trust, while SLVO is a Silver fund tracking the Credit Suisse NASDAQ Silver FLOWS 106 Index. IGLD is actively managed, while SLVO is passively managed. Over the past year, IGLD returned 24.53% vs 62.53% for SLVO. A 0.67 correlation means they provide meaningful diversification when combined. IGLD charges 0.85%/yr vs 0.65%/yr for SLVO.

Performance

IGLD vs. SLVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest Gold Strategy Target Income ETF (IGLD) and UBS ETRACS Silver Shares Covered Call ETN (SLVO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGLD achieves a 1.69% return, which is significantly lower than SLVO's 13.49% return.

IGLD

• 1D: -0.81%
• 1M: -1.33%
• YTD: 1.69%
• 6M: 4.44%
• 1Y: 24.53%
• 3Y*: 23.01%
• 5Y*: 13.02%
• 10Y*: —

SLVO

• 1D: -1.17%
• 1M: 4.05%
• YTD: 13.49%
• 6M: 17.86%
• 1Y: 62.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IGLD vs. SLVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IGLD FT Cboe Vest Gold Strategy Target Income ETF	1.69%	47.46%	9.70%
SLVO UBS ETRACS Silver Shares Covered Call ETN	13.49%	71.20%	1.24%

Correlation

The correlation between IGLD and SLVO is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	0.67

The correlation between IGLD and SLVO has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

Return for Risk

IGLD vs. SLVO — Risk / Return Rank

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

IGLD

IGLD Risk / Return Rank: 28
IGLD Sharpe Ratio Rank: 28
IGLD Sortino Ratio Rank: 27
IGLD Omega Ratio Rank: 32
IGLD Calmar Ratio Rank: 28
IGLD Martin Ratio Rank: 27

SLVO

SLVO Risk / Return Rank: 66
SLVO Sharpe Ratio Rank: 62
SLVO Sortino Ratio Rank: 48
SLVO Omega Ratio Rank: 72
SLVO Calmar Ratio Rank: 72
SLVO Martin Ratio Rank: 77

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.

IGLD vs. SLVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest Gold Strategy Target Income ETF (IGLD) and UBS ETRACS Silver Shares Covered Call ETN (SLVO). 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.

	IGLD	SLVO	Difference
Sharpe ratio: Return per unit of total volatility	1.06	2.13	-1.07
Sortino ratio: Return per unit of downside risk	1.47	2.39	-0.92
Omega ratio: Gain probability vs. loss probability	1.22	1.44	-0.22
Calmar ratio: Return relative to maximum drawdown	1.40	3.65	-2.24
Martin ratio: Return relative to average drawdown	3.82	15.01	-11.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGLD vs. SLVO - Sharpe Ratio Comparison

The current IGLD Sharpe Ratio is 1.06, which is lower than the SLVO Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of IGLD and SLVO, 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

	IGLD	SLVO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	2.13	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	1.61	-0.67

Drawdowns

IGLD vs. SLVO - Drawdown Comparison

The maximum IGLD drawdown since its inception was -18.59%, which is greater than SLVO's maximum drawdown of -17.23%. Use the drawdown chart below to compare losses from any high point for IGLD and SLVO.

Drawdown Indicators

	IGLD	SLVO	Difference
Max Drawdown Largest peak-to-trough decline	-18.59%	-17.23%	-1.36%
Max Drawdown (1Y) Largest decline over 1 year	-17.56%	-17.23%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	-17.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.59%	—	—
Current Drawdown Current decline from peak	-15.16%	-3.22%	-11.94%
Average Drawdown Average peak-to-trough decline	-5.24%	-3.13%	-2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.43%	4.18%	+2.25%

Volatility

IGLD vs. SLVO - Volatility Comparison

The current volatility for FT Cboe Vest Gold Strategy Target Income ETF (IGLD) is 5.12%, while UBS ETRACS Silver Shares Covered Call ETN (SLVO) has a volatility of 6.39%. This indicates that IGLD experiences smaller price fluctuations and is considered to be less risky than SLVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGLD	SLVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.12%	6.39%	-1.27%
Volatility (6M) Calculated over the trailing 6-month period	21.01%	27.33%	-6.32%
Volatility (1Y) Calculated over the trailing 1-year period	23.24%	29.53%	-6.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.17%	25.23%	-10.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.00%	25.23%	-10.23%

IGLD vs. SLVO - Expense Ratio Comparison

IGLD has a 0.85% expense ratio, which is higher than SLVO's 0.65% expense ratio.

Dividends

IGLD vs. SLVO - Dividend Comparison

IGLD's dividend yield for the trailing twelve months is around 17.92%, less than SLVO's 46.44% yield.

Position	TTM	2025	2024	2023	2022	2021
IGLD FT Cboe Vest Gold Strategy Target Income ETF	17.92%	9.91%	20.81%	7.85%	4.45%	2.24%
SLVO UBS ETRACS Silver Shares Covered Call ETN	46.44%	19.35%	14.45%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGLD and SLVO in my portfolio?

IGLD and SLVO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGLD or SLVO?

SLVO has higher volatility (6.39%) compared to IGLD (5.12%). In terms of maximum drawdown, IGLD dropped -18.59% vs SLVO's -17.23%.

Which ETF is better, IGLD or SLVO?

On 1-year performance, SLVO leads with 62.53% vs 24.53% for IGLD. On fees, SLVO is cheaper at 0.65% per year. On volatility, IGLD has been the lower-risk option at 5.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGLD or SLVO?

Over the 1-year period, SLVO has performed better with a 62.53% return vs 24.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGLD or SLVO?

SLVO is cheaper with a 0.65% expense ratio, compared with 0.85% for IGLD.

Which ETF pays a higher dividend yield, IGLD or SLVO?

SLVO has the higher dividend yield at 46.44%, compared with 17.92% for IGLD.

What is the main difference between IGLD and SLVO?

IGLD is categorized as Precious Metals, while SLVO is Silver. They also come from different issuers: First Trust and UBS. Their fees differ too: 0.85% for IGLD and 0.65% for SLVO.

Which has better risk-adjusted returns?

SLVO currently has the higher Sharpe Ratio (2.13 vs 1.06), 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.