ISLN.L vs. SSLV.L
ISLN.L (iShares Physical Silver ETC) and SSLV.L (Invesco Physical Silver ETC) are both Silver funds tracking the LBMA Silver Price, from iShares and Invesco respectively. Both are passively managed. Over the past 10 years, ISLN.L returned 15.84%/yr vs 15.85%/yr for SSLV.L. Their correlation of 0.91 suggests significant overlap in exposure. ISLN.L charges 0.20%/yr vs 0.19%/yr for SSLV.L.
Performance
ISLN.L vs. SSLV.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ISLN.L having a 2.87% return and SSLV.L slightly higher at 2.90%. Both investments have delivered pretty close results over the past 10 years, with ISLN.L having a 15.84% annualized return and SSLV.L not far ahead at 15.85%.
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%
SSLV.L
- 1D
- 0.44%
- 1M
- 0.09%
- YTD
- 2.90%
- 6M
- 29.12%
- 1Y
- 113.89%
- 3Y*
- 45.99%
- 5Y*
- 21.31%
- 10Y*
- 15.85%
ISLN.L vs. SSLV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SSLV.L Invesco Physical Silver ETC | 2.90% | 147.68% | 21.10% | -0.93% | 3.59% | -12.95% | 45.93% | 16.33% | -8.71% | 3.69% |
Correlation
The correlation between ISLN.L and SSLV.L is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2011 | 0.91 |
The correlation between ISLN.L and SSLV.L has been stable across timeframes, ranging from 0.91 to 1.00 - a consistent structural relationship.
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Return for Risk
ISLN.L vs. SSLV.L — Risk / Return Rank
ISLN.L
SSLV.L
ISLN.L vs. SSLV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (ISLN.L) and Invesco Physical Silver ETC (SSLV.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.L | SSLV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 2.79 | -0.01 |
| Martin ratioReturn relative to average drawdown | 6.08 | 6.08 | 0.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ISLN.L | SSLV.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 1.99 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.60 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.51 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.11 | +0.01 |
Drawdowns
ISLN.L vs. SSLV.L - Drawdown Comparison
The maximum ISLN.L drawdown since its inception was -76.63%, roughly equal to the maximum SSLV.L drawdown of -74.62%. Use the drawdown chart below to compare losses from any high point for ISLN.L and SSLV.L.
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Drawdown Indicators
| ISLN.L | SSLV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.63% | -74.62% | -2.01% |
Max Drawdown (1Y)Largest decline over 1 year | -40.67% | -40.61% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -40.67% | -40.61% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -40.67% | -40.61% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -42.90% | -42.74% | -0.16% |
Current DrawdownCurrent decline from peak | -35.25% | -35.24% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -54.28% | -52.25% | -2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.63% | 18.65% | -0.02% |
Volatility
ISLN.L vs. SSLV.L - Volatility Comparison
iShares Physical Silver ETC (ISLN.L) and Invesco Physical Silver ETC (SSLV.L) have volatilities of 17.61% and 17.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISLN.L | SSLV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.61% | 17.44% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 54.22% | 54.09% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.90% | 56.84% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.49% | 35.50% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.92% | 30.89% | +0.03% |
ISLN.L vs. SSLV.L - Expense Ratio Comparison
ISLN.L has a 0.20% expense ratio, which is higher than SSLV.L's 0.19% 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. SSLV.L - Dividend Comparison
Neither ISLN.L nor SSLV.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 1.00, ISLN.L and SSLV.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SSLV.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSLV.L is cheaper with a 0.19% expense ratio, compared with 0.20% for ISLN.L.
Both ETFs track LBMA Silver Price. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for ISLN.L and 0.19% for SSLV.L.
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