INDY vs. SLV
INDY (iShares India 50 ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - INDY is a India Equities fund tracking the Nifty 50 Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, INDY returned 6.16%/yr vs 10.86%/yr for SLV. Their 0.24 correlation means their historical movements had little consistent relationship. INDY charges 0.65%/yr vs 0.50%/yr for SLV.
Performance
INDY vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, INDY achieves a -10.20% return, which is significantly higher than SLV's -18.57% return. Over the past 10 years, INDY has underperformed SLV with an annualized return of 6.16%, while SLV has yielded a comparatively higher 10.86% annualized return.
INDY
- 1D
- 0.94%
- 1M
- 1.12%
- 6M
- -8.51%
- YTD
- -10.20%
- 1Y
- -7.43%
- 3Y*
- 2.00%
- 5Y*
- 2.17%
- 10Y*
- 6.16%
- ALL TIME*
- 5.00%
SLV
- 1D
- 0.19%
- 1M
- -4.65%
- 6M
- -27.58%
- YTD
- -18.57%
- 1Y
- 56.18%
- 3Y*
- 34.29%
- 5Y*
- 17.38%
- 10Y*
- 10.86%
- ALL TIME*
- 7.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.15M | $4.11M | $5.43M | |
| $713.72M | $758.23M | $1.25B |
INDY vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | -10.20% | 4.97% | 3.47% | 16.88% | -7.31% | 19.43% | 10.01% | 9.99% | -4.32% | 36.15% |
SLV iShares Silver Trust | -18.57% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between INDY and SLV is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2009 | 0.24 |
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Return for Risk
INDY vs. SLV — Risk / Return Rank
INDY
SLV
INDY vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares India 50 ETF (INDY) 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.
| INDY | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.21 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 1.08 | -1.49 |
| Martin ratioReturn relative to average drawdown | -0.81 | 2.05 | -2.86 |
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Drawdowns
INDY vs. SLV - Drawdown Comparison
The maximum INDY drawdown since its inception was -44.74%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for INDY and SLV.
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Drawdown Indicators
| INDY | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.74% | -76.28% | +31.54% |
Max Drawdown (1Y)Largest decline over 1 year | -18.09% | -52.28% | +34.19% |
Max Drawdown (3Y)Largest decline over 3 years | -22.40% | -52.28% | +29.88% |
Max Drawdown (5Y)Largest decline over 5 years | -22.40% | -52.28% | +29.88% |
Max Drawdown (10Y)Largest decline over 10 years | -43.50% | -52.28% | +8.78% |
Current DrawdownCurrent decline from peak | -16.16% | -50.32% | +34.16% |
Average DrawdownAverage peak-to-trough decline | -12.28% | -44.68% | +32.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.14% | 27.49% | -18.35% |
Volatility
INDY vs. SLV - Volatility Comparison
The current volatility for iShares India 50 ETF (INDY) is 4.20%, while iShares Silver Trust (SLV) has a volatility of 10.86%. This indicates that INDY 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
| INDY | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 10.86% | -6.66% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 44.32% | -31.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.70% | 61.47% | -46.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.02% | 36.98% | -21.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.52% | 32.23% | -12.71% |
INDY vs. SLV - Expense Ratio Comparison
INDY has a 0.65% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
INDY vs. SLV - Dividend Comparison
INDY's dividend yield for the trailing twelve months is around 9.27%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | 9.27% | 8.11% | 0.24% | 0.38% | 3.75% | 7.12% | 0.08% | 0.58% | 0.55% | 0.27% | 0.48% | 0.57% |
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
INDY and SLV have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (10.86%) compared to INDY (4.20%). In terms of maximum drawdown, INDY dropped -44.74% vs SLV's -76.28%.
On 10-year performance, SLV leads with 10.86% vs 6.16% for INDY. On fees, SLV is cheaper at 0.50% per year. On volatility, INDY has been the lower-risk option at 4.20%. 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 10.86% return vs 6.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.65% for INDY.
INDY has the higher dividend yield at 9.27%, compared with 0.00% for SLV.
INDY is categorized as India Equities, while SLV is Silver. INDY tracks Nifty 50 Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.65% for INDY and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (0.92 vs -0.51), 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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