INDY vs. SLV
INDY (iShares India 50 ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - INDY is a Emerging Markets 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 6.94%/yr vs 12.68%/yr for SLV. At a 0.24 correlation, their price movements are largely independent. 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 -12.36% return, which is significantly higher than SLV's -13.49% return. Over the past 10 years, INDY has underperformed SLV with an annualized return of 6.94%, while SLV has yielded a comparatively higher 12.68% annualized return.
INDY
- 1D
- -1.49%
- 1M
- 1.53%
- YTD
- -12.36%
- 6M
- -12.66%
- 1Y
- -12.06%
- 3Y*
- 2.42%
- 5Y*
- 2.23%
- 10Y*
- 6.94%
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%
INDY vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | -12.36% | 4.97% | 3.47% | 16.88% | -7.31% | 19.43% | 10.01% | 9.99% | -4.32% | 36.15% |
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 INDY and SLV is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 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 | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.72 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.25 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 1.47 | -2.11 |
| Martin ratioReturn relative to average drawdown | -1.35 | 3.16 | -4.51 |
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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 | -18.95% | -47.23% | +28.28% |
Max Drawdown (3Y)Largest decline over 3 years | -22.40% | -47.23% | +24.83% |
Max Drawdown (5Y)Largest decline over 5 years | -22.40% | -47.23% | +24.83% |
Max Drawdown (10Y)Largest decline over 10 years | -43.50% | -47.23% | +3.73% |
Current DrawdownCurrent decline from peak | -18.17% | -47.23% | +29.06% |
Average DrawdownAverage peak-to-trough decline | -12.24% | -44.65% | +32.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.98% | 21.91% | -12.93% |
Volatility
INDY vs. SLV - Volatility Comparison
The current volatility for iShares India 50 ETF (INDY) is 4.06%, while iShares Silver Trust (SLV) has a volatility of 14.34%. 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 | 4.06% | 14.34% | -10.28% |
Volatility (6M)Calculated over the trailing 6-month period | 12.55% | 59.27% | -46.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.36% | 60.33% | -45.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.98% | 36.59% | -21.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.53% | 32.09% | -12.56% |
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 9.50%, 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 | 9.50% | 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 0.22, 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 INDY (4.06%). In terms of maximum drawdown, INDY dropped -44.74% vs SLV's -76.28%.
On 10-year performance, SLV leads with 12.68% vs 6.94% for INDY. On fees, SLV is cheaper at 0.50% per year. On volatility, INDY has been the lower-risk option at 4.06%. 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 6.94%. 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 9.50%, compared with 0.00% for SLV.
INDY is categorized as Emerging Markets 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 (1.15 vs -0.84), 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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