ISHG vs. SLV
ISHG (iShares 1-3 Year International Treasury Bond ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - ISHG is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, ISHG returned -0.18%/yr vs 10.95%/yr for SLV. At a 0.40 correlation, their price movements are largely independent. ISHG charges 0.35%/yr vs 0.50%/yr for SLV.
Performance
ISHG vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, ISHG achieves a -1.21% return, which is significantly higher than SLV's -16.25% return. Over the past 10 years, ISHG has underperformed SLV with an annualized return of -0.18%, while SLV has yielded a comparatively higher 10.95% annualized return.
ISHG
- 1D
- 0.06%
- 1M
- -1.04%
- 6M
- -0.60%
- YTD
- -1.21%
- 1Y
- -0.54%
- 3Y*
- 3.44%
- 5Y*
- -0.95%
- 10Y*
- -0.18%
SLV
- 1D
- -0.35%
- 1M
- -11.98%
- 6M
- -25.46%
- YTD
- -16.25%
- 1Y
- 54.01%
- 3Y*
- 36.53%
- 5Y*
- 17.40%
- 10Y*
- 10.95%
ISHG vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | -1.21% | 13.31% | -4.16% | 3.76% | -10.95% | -7.05% | 7.47% | -0.64% | -3.54% | 10.91% |
SLV iShares Silver Trust | -16.25% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between ISHG and SLV is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2009 | 0.40 |
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Return for Risk
ISHG vs. SLV — Risk / Return Rank
ISHG
SLV
ISHG vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year International Treasury Bond ETF (ISHG) 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.
| ISHG | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.22 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 1.18 | -1.35 |
| Martin ratioReturn relative to average drawdown | -0.37 | 2.46 | -2.83 |
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Drawdowns
ISHG vs. SLV - Drawdown Comparison
The maximum ISHG drawdown since its inception was -37.24%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for ISHG and SLV.
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Drawdown Indicators
| ISHG | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.24% | -76.28% | +39.04% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -50.97% | +45.95% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -50.97% | +42.76% |
Max Drawdown (5Y)Largest decline over 5 years | -22.29% | -50.97% | +28.68% |
Max Drawdown (10Y)Largest decline over 10 years | -25.56% | -50.97% | +25.41% |
Current DrawdownCurrent decline from peak | -23.17% | -48.91% | +25.74% |
Average DrawdownAverage peak-to-trough decline | -18.46% | -44.67% | +26.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 24.40% | -22.11% |
Volatility
ISHG vs. SLV - Volatility Comparison
The current volatility for iShares 1-3 Year International Treasury Bond ETF (ISHG) is 1.58%, while iShares Silver Trust (SLV) has a volatility of 14.31%. This indicates that ISHG 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
| ISHG | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 14.31% | -12.73% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 57.38% | -52.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.49% | 61.01% | -54.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 36.81% | -29.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.91% | 32.14% | -25.23% |
ISHG vs. SLV - Expense Ratio Comparison
ISHG has a 0.35% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
ISHG vs. SLV - Dividend Comparison
ISHG's dividend yield for the trailing twelve months is around 1.47%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | 1.47% | 1.45% | 2.56% | 0.18% | 0.00% | 1.29% | 0.00% | 0.00% | 1.80% | 0.46% | 0.00% | 0.09% |
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
ISHG and SLV have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.31%) compared to ISHG (1.58%). In terms of maximum drawdown, ISHG dropped -37.24% vs SLV's -76.28%.
On 10-year performance, SLV leads with 10.95% vs -0.18% for ISHG. On fees, ISHG is cheaper at 0.35% per year. On volatility, ISHG has been the lower-risk option at 1.58%. 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 10.95% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISHG is cheaper with a 0.35% expense ratio, compared with 0.50% for SLV.
ISHG has the higher dividend yield at 1.47%, compared with 0.00% for SLV.
ISHG is categorized as International Government Bonds, while SLV is Silver. ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while SLV tracks LBMA Silver Price. Their fees differ too: 0.35% for ISHG and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (0.99 vs -0.13), 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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