IMCB vs. SLV
IMCB (iShares Morningstar Mid-Cap ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - IMCB is a Mid Cap Blend Equities fund tracking the IMCB-US - Morningstar U.S. Mid Cap Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, IMCB returned 11.71%/yr vs 12.68%/yr for SLV. At a 0.22 correlation, their price movements are largely independent. IMCB charges 0.04%/yr vs 0.50%/yr for SLV.
Performance
IMCB vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, IMCB achieves a 15.58% return, which is significantly higher than SLV's -13.49% return. Over the past 10 years, IMCB has underperformed SLV with an annualized return of 11.71%, while SLV has yielded a comparatively higher 12.68% annualized return.
IMCB
- 1D
- -0.52%
- 1M
- 3.49%
- YTD
- 15.58%
- 6M
- 14.26%
- 1Y
- 23.55%
- 3Y*
- 17.69%
- 5Y*
- 8.92%
- 10Y*
- 11.71%
SLV
- 1D
- -5.40%
- 1M
- -18.48%
- YTD
- -13.49%
- 6M
- -14.05%
- 1Y
- 69.08%
- 3Y*
- 39.38%
- 5Y*
- 18.31%
- 10Y*
- 12.68%
IMCB vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMCB iShares Morningstar Mid-Cap ETF | 15.58% | 10.25% | 15.10% | 16.37% | -16.09% | 22.81% | 13.35% | 31.49% | -11.53% | 19.70% |
SLV iShares Silver Trust | -13.49% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between IMCB and SLV is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.22 |
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Return for Risk
IMCB vs. SLV — Risk / Return Rank
IMCB
SLV
IMCB vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCB) 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.
| IMCB | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.25 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 1.47 | +1.47 |
| Martin ratioReturn relative to average drawdown | 11.50 | 3.16 | +8.34 |
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Drawdowns
IMCB vs. SLV - Drawdown Comparison
The maximum IMCB drawdown since its inception was -58.80%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for IMCB and SLV.
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Drawdown Indicators
| IMCB | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.80% | -76.28% | +17.48% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -47.23% | +39.18% |
Max Drawdown (3Y)Largest decline over 3 years | -19.80% | -47.23% | +27.43% |
Max Drawdown (5Y)Largest decline over 5 years | -25.15% | -47.23% | +22.08% |
Max Drawdown (10Y)Largest decline over 10 years | -40.99% | -47.23% | +6.24% |
Current DrawdownCurrent decline from peak | -0.84% | -47.23% | +46.39% |
Average DrawdownAverage peak-to-trough decline | -7.72% | -44.65% | +36.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 21.91% | -19.86% |
Volatility
IMCB vs. SLV - Volatility Comparison
The current volatility for iShares Morningstar Mid-Cap ETF (IMCB) is 4.75%, while iShares Silver Trust (SLV) has a volatility of 14.34%. This indicates that IMCB 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.
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Volatility by Period
| IMCB | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 14.34% | -9.59% |
Volatility (6M)Calculated over the trailing 6-month period | 10.27% | 59.27% | -49.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.31% | 60.33% | -47.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.64% | 36.59% | -18.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.66% | 32.09% | -12.43% |
IMCB vs. SLV - Expense Ratio Comparison
IMCB has a 0.04% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
IMCB vs. SLV - Dividend Comparison
IMCB's dividend yield for the trailing twelve months is around 1.24%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMCB iShares Morningstar Mid-Cap ETF | 1.24% | 1.42% | 1.43% | 1.55% | 1.70% | 1.08% | 1.12% | 1.32% | 1.80% | 1.31% | 1.79% | 1.47% |
SLV iShares Silver Trust | 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
IMCB and SLV have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.34%) compared to IMCB (4.75%). In terms of maximum drawdown, IMCB dropped -58.80% vs SLV's -76.28%.
On 10-year performance, SLV leads with 12.68% vs 11.71% for IMCB. On fees, IMCB is cheaper at 0.04% per year. On volatility, IMCB has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLV has performed better with a 12.68% return vs 11.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMCB is cheaper with a 0.04% expense ratio, compared with 0.50% for SLV.
IMCB has the higher dividend yield at 1.24%, compared with 0.00% for SLV.
IMCB is categorized as Mid Cap Blend Equities, while SLV is Silver. IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.04% for IMCB and 0.50% for SLV.
IMCB currently has the higher Sharpe Ratio (1.78 vs 1.15), 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.
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