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ISLN.L vs. UCG.MI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISLN.L vs. UCG.MI

Last updated Jun 14, 2026

ISLN.L (iShares Physical Silver ETC) is Silver fund tracking the LBMA Silver Price, while UCG.MI (UniCredit S.p.A.) is a stock. Over the past 10 years, ISLN.L returned 14.26%/yr vs 34.03%/yr for UCG.MI. At a 0.10 correlation, their price movements are largely independent.

Performance

ISLN.L vs. UCG.MI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Physical Silver ETC (ISLN.L) and UniCredit S.p.A. (UCG.MI). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ISLN.L is traded in USD, while UCG.MI is traded in EUR. To make them comparable, the UCG.MI values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ISLN.L achieves a -5.58% return, which is significantly lower than UCG.MI's 4.26% return. Over the past 10 years, ISLN.L has underperformed UCG.MI with an annualized return of 14.26%, while UCG.MI has yielded a comparatively higher 34.03% annualized return.

ISLN.L

1D
5.80%
1M
-20.59%
YTD
-5.58%
6M
9.90%
1Y
86.37%
3Y*
41.38%
5Y*
19.06%
10Y*
14.26%

UCG.MI

1D
3.99%
1M
0.42%
YTD
4.26%
6M
9.65%
1Y
37.05%
3Y*
70.33%
5Y*
53.22%
10Y*
34.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ISLN.L vs. UCG.MI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ISLN.L
iShares Physical Silver ETC		-5.58%147.62%21.10%-0.76%3.39%-12.85%45.85%16.36%-8.76%3.66%
UCG.MI
UniCredit S.p.A.		4.26%119.11%59.43%101.17%-1.90%65.36%-35.50%31.65%-38.41%158.96%

Correlation

The correlation between ISLN.L and UCG.MI is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

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

0.27

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

0.21

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

0.11

Correlation (All Time)
Calculated using the full available price history since Apr 8, 2011

0.10

Over the past year, ISLN.L and UCG.MI have become more correlated (0.33) than their long-term average of 0.10, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Physical Silver ETC

UniCredit S.p.A.

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 UCG.MI:
UCG.MI vs. ISP.MIUCG.MI vs. CBK.DEUCG.MI vs. MSFTUCG.MI vs. MUFGUCG.MI vs. BPE.MIUCG.MI vs. MAUCG.MI vs. BBVA

Return for Risk

ISLN.L vs. UCG.MI — 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: 4444
Overall Rank
ISLN.L Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
ISLN.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
ISLN.L Omega Ratio Rank: 5252
Omega Ratio Rank
ISLN.L Calmar Ratio Rank: 4444
Calmar Ratio Rank
ISLN.L Martin Ratio Rank: 3333
Martin Ratio Rank
UCG.MI
UCG.MI Risk / Return Rank: 7272
Overall Rank
UCG.MI Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
UCG.MI Sortino Ratio Rank: 7373
Sortino Ratio Rank
UCG.MI Omega Ratio Rank: 6969
Omega Ratio Rank
UCG.MI Calmar Ratio Rank: 7070
Calmar Ratio Rank
UCG.MI Martin Ratio Rank: 7373
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. UCG.MI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (ISLN.L) and UniCredit S.p.A. (UCG.MI). 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.

ISLN.LUCG.MIDifference
Sharpe ratioReturn per unit of total volatility
1.48
1.06

+0.43

Sortino ratioReturn per unit of downside risk
1.95
1.68

+0.27

Omega ratioGain probability vs. loss probability

1.29

1.20

+0.09

Calmar ratioReturn relative to maximum drawdown

1.96

1.30

+0.66

Martin ratioReturn relative to average drawdown

4.36

3.61

+0.75

ISLN.L vs. UCG.MI - Sharpe Ratio Comparison

The current ISLN.L Sharpe Ratio is 1.48, which is higher than the UCG.MI Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of ISLN.L and UCG.MI, 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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Drawdowns

ISLN.L vs. UCG.MI - Drawdown Comparison

The maximum ISLN.L drawdown since its inception was -76.69%, smaller than the maximum UCG.MI drawdown of -94.03%. Use the drawdown chart below to compare losses from any high point for ISLN.L and UCG.MI.

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Drawdown Indicators

ISLN.LUCG.MIDifference

Max Drawdown

Largest peak-to-trough decline

-76.69%

-94.03%

+17.34%

Max Drawdown (1Y)

Largest decline over 1 year

-43.83%

-26.80%

-17.03%

Max Drawdown (3Y)

Largest decline over 3 years

-43.83%

-26.80%

-17.03%

Max Drawdown (5Y)

Largest decline over 5 years

-43.83%

-50.48%

+6.65%

Max Drawdown (10Y)

Largest decline over 10 years

-43.83%

-69.19%

+25.36%

Current Drawdown

Current decline from peak

-40.57%

-7.29%

-33.28%

Average Drawdown

Average peak-to-trough decline

-53.73%

-68.09%

+14.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

19.70%

9.62%

+10.08%

Volatility

ISLN.L vs. UCG.MI - Volatility Comparison

iShares Physical Silver ETC (ISLN.L) has a higher volatility of 15.90% compared to UniCredit S.p.A. (UCG.MI) at 8.74%. This indicates that ISLN.L's price experiences larger fluctuations and is considered to be riskier than UCG.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ISLN.LUCG.MIDifference

Volatility (1M)

Calculated over the trailing 1-month period

15.90%

8.74%

+7.16%

Volatility (6M)

Calculated over the trailing 6-month period

54.92%

26.62%

+28.30%

Volatility (1Y)

Calculated over the trailing 1-year period

57.77%

32.83%

+24.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.79%

37.98%

-2.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.08%

49.20%

-18.12%

Dividends

ISLN.L vs. UCG.MI - Dividend Comparison

ISLN.L has not paid dividends to shareholders, while UCG.MI's dividend yield for the trailing twelve months is around 4.30%.

PositionTTM20252024202320222021202020192018201720162015
ISLN.L
iShares Physical Silver ETC		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
UCG.MI
UniCredit S.p.A.		4.30%4.10%7.08%4.02%4.05%0.89%0.00%2.07%3.24%0.00%0.88%0.47%

Frequently Asked Questions

ISLN.L and UCG.MI have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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