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ISLN.L vs. IUES.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISLN.L vs. IUES.L

Last updated Jun 5, 2026

ISLN.L (iShares Physical Silver ETC) and IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - ISLN.L is a Silver fund tracking the LBMA Silver Price, while IUES.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, ISLN.L returned 15.84%/yr vs 9.21%/yr for IUES.L. At a 0.15 correlation, their price movements are largely independent. ISLN.L charges 0.20%/yr vs 0.15%/yr for IUES.L.

Performance

ISLN.L vs. IUES.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Physical Silver ETC (ISLN.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ISLN.L achieves a 2.87% return, which is significantly lower than IUES.L's 30.45% return. Over the past 10 years, ISLN.L has outperformed IUES.L with an annualized return of 15.84%, while IUES.L has yielded a comparatively lower 9.21% annualized return.

ISLN.L

1D
0.43%
1M
0.11%
YTD
2.87%
6M
29.09%
1Y
113.78%
3Y*
45.97%
5Y*
21.30%
10Y*
15.84%

IUES.L

1D
-0.36%
1M
-1.09%
YTD
30.45%
6M
29.22%
1Y
46.28%
3Y*
16.84%
5Y*
20.33%
10Y*
9.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ISLN.L vs. IUES.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ISLN.L
iShares Physical Silver ETC		2.87%147.59%21.12%-0.77%3.39%-12.85%45.85%16.35%-8.76%3.68%
IUES.L
iShares S&P 500 Energy Sector UCITS ETF USD (Acc)		30.45%9.82%3.87%-0.63%63.84%51.95%-33.35%8.81%-18.12%-1.19%

Correlation

The correlation between ISLN.L and IUES.L is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.04

Correlation (3Y)
Calculated over the trailing 3-year period

0.10

Correlation (5Y)
Calculated over the trailing 5-year period

0.17

Correlation (10Y)
Calculated over the trailing 10-year period

0.14

Correlation (All Time)
Calculated using the full available price history since Nov 25, 2015

0.15

The correlation between ISLN.L and IUES.L shifts across timeframes, from -0.04 (1 year) to 0.17 (5 years), reflecting how their relationship changes across market environments.

ISLN.L vs. IUES.L - Sectors Allocation Comparison

Sectors
ISLN.L
IUES.L

Basic Materials

6.6%

-

Industrials

6.0%

-

Healthcare

5.9%

-

Real Estate

3.5%

-

Energy

2.9%
100.0%

Technology

2.8%

-

Financial Services

2.5%

-

Consumer Cyclical

2.3%

-

Utilities

2.0%

-

Consumer Defensive

0.4%

-

Communication Services

0.4%

-

Basic Materials

ISLN.L
6.6%
IUES.L

-

Industrials

ISLN.L
6.0%
IUES.L

-

Healthcare

ISLN.L
5.9%
IUES.L

-

Real Estate

ISLN.L
3.5%
IUES.L

-

Energy

ISLN.L
2.9%
IUES.L
100.0%

Technology

ISLN.L
2.8%
IUES.L

-

Financial Services

ISLN.L
2.5%
IUES.L

-

Consumer Cyclical

ISLN.L
2.3%
IUES.L

-

Utilities

ISLN.L
2.0%
IUES.L

-

Consumer Defensive

ISLN.L
0.4%
IUES.L

-

Communication Services

ISLN.L
0.4%
IUES.L

-

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iShares Physical Silver ETC

iShares S&P 500 Energy Sector UCITS ETF USD (Acc)

Often compared with ISLN.L:
ISLN.L vs. SSLN.LISLN.L vs. SLVISLN.L vs. EGLN.LISLN.L vs. IGLN.LISLN.L vs. XAGUSD=XISLN.L vs. SLVR.LISLN.L vs. SVR-C.TO
Often compared with IUES.L:
IUES.L vs. XLEIUES.L vs. IXCIUES.L vs. CSPX.LIUES.L vs. WENS.LIUES.L vs. VUAA.LIUES.L vs. RSPGIUES.L vs. VWRA.L

Return for Risk

ISLN.L vs. IUES.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ISLN.L
ISLN.L Risk / Return Rank: 5252
Overall Rank
ISLN.L Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
ISLN.L Sortino Ratio Rank: 4848
Sortino Ratio Rank
ISLN.L Omega Ratio Rank: 5858
Omega Ratio Rank
ISLN.L Calmar Ratio Rank: 5757
Calmar Ratio Rank
ISLN.L Martin Ratio Rank: 3939
Martin Ratio Rank
IUES.L
IUES.L Risk / Return Rank: 6060
Overall Rank
IUES.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
IUES.L Sortino Ratio Rank: 5656
Sortino Ratio Rank
IUES.L Omega Ratio Rank: 5959
Omega Ratio Rank
IUES.L Calmar Ratio Rank: 6565
Calmar Ratio Rank
IUES.L Martin Ratio Rank: 5757
Martin Ratio Rank
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.

ISLN.L vs. IUES.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (ISLN.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L). 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.

ISLN.LIUES.LDifference
Sharpe ratioReturn per unit of total volatility
1.99
2.12

-0.13

Sortino ratioReturn per unit of downside risk
2.33
2.64

-0.31

Omega ratioGain probability vs. loss probability

1.35

1.35

0.00

Calmar ratioReturn relative to maximum drawdown

2.78

3.18

-0.40

Martin ratioReturn relative to average drawdown

6.08

9.97

-3.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISLN.L vs. IUES.L - Sharpe Ratio Comparison

The current ISLN.L Sharpe Ratio is 1.99, which is comparable to the IUES.L Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of ISLN.L and IUES.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ISLN.LIUES.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.99

2.12

-0.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

0.76

-0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.32

+0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.12

0.31

-0.19

Drawdowns

ISLN.L vs. IUES.L - Drawdown Comparison

The maximum ISLN.L drawdown since its inception was -76.63%, which is greater than IUES.L's maximum drawdown of -66.78%. Use the drawdown chart below to compare losses from any high point for ISLN.L and IUES.L.

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Drawdown Indicators

ISLN.LIUES.LDifference

Max Drawdown

Largest peak-to-trough decline

-76.63%

-66.78%

-9.85%

Max Drawdown (1Y)

Largest decline over 1 year

-40.67%

-14.49%

-26.18%

Max Drawdown (3Y)

Largest decline over 3 years

-40.67%

-20.90%

-19.77%

Max Drawdown (5Y)

Largest decline over 5 years

-40.67%

-27.98%

-12.69%

Max Drawdown (10Y)

Largest decline over 10 years

-42.90%

-66.78%

+23.88%

Current Drawdown

Current decline from peak

-35.25%

-7.45%

-27.80%

Average Drawdown

Average peak-to-trough decline

-54.28%

-14.21%

-40.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

18.63%

4.63%

+14.00%

Volatility

ISLN.L vs. IUES.L - Volatility Comparison

iShares Physical Silver ETC (ISLN.L) has a higher volatility of 17.61% compared to iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) at 8.13%. This indicates that ISLN.L's price experiences larger fluctuations and is considered to be riskier than IUES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ISLN.LIUES.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

17.61%

8.13%

+9.48%

Volatility (6M)

Calculated over the trailing 6-month period

54.22%

18.58%

+35.64%

Volatility (1Y)

Calculated over the trailing 1-year period

56.90%

21.81%

+35.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.49%

26.72%

+8.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

30.92%

28.49%

+2.43%

ISLN.L vs. IUES.L - Expense Ratio Comparison

ISLN.L has a 0.20% expense ratio, which is higher than IUES.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ISLN.L vs. IUES.L - Dividend Comparison

Neither ISLN.L nor IUES.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

ISLN.L and IUES.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IUES.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IUES.L is cheaper with a 0.15% expense ratio, compared with 0.20% for ISLN.L.

ISLN.L is categorized as Silver, while IUES.L is Energy Equities. ISLN.L tracks LBMA Silver Price, while IUES.L tracks MSCI World/Energy NR USD. Their fees differ too: 0.20% for ISLN.L and 0.15% for IUES.L.

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