IWP vs. SLV
IWP (iShares Russell Mid-Cap Growth ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, IWP returned 13.00%/yr vs 11.99%/yr for SLV. At a 0.20 correlation, their price movements are largely independent. IWP charges 0.23%/yr vs 0.50%/yr for SLV.
Performance
IWP vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, IWP achieves a 3.22% return, which is significantly higher than SLV's -18.72% return. Over the past 10 years, IWP has outperformed SLV with an annualized return of 13.00%, while SLV has yielded a comparatively lower 11.99% annualized return.
IWP
- 1D
- -0.11%
- 1M
- 0.36%
- YTD
- 3.22%
- 6M
- 1.09%
- 1Y
- 3.49%
- 3Y*
- 15.30%
- 5Y*
- 5.10%
- 10Y*
- 13.00%
SLV
- 1D
- 1.12%
- 1M
- -24.90%
- YTD
- -18.72%
- 6M
- -19.72%
- 1Y
- 58.62%
- 3Y*
- 35.82%
- 5Y*
- 16.71%
- 10Y*
- 11.99%
IWP vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 3.22% | 8.45% | 21.86% | 25.70% | -26.90% | 12.60% | 35.25% | 35.04% | -4.89% | 24.93% |
SLV iShares Silver Trust | -18.72% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between IWP 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 | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.20 |
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Return for Risk
IWP vs. SLV — Risk / Return Rank
IWP
SLV
IWP vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Growth ETF (IWP) 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.
| IWP | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.22 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.24 | 1.16 | -0.92 |
| Martin ratioReturn relative to average drawdown | 0.68 | 2.63 | -1.95 |
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Drawdowns
IWP vs. SLV - Drawdown Comparison
The maximum IWP drawdown since its inception was -56.92%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for IWP and SLV.
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Drawdown Indicators
| IWP | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.92% | -76.28% | +19.36% |
Max Drawdown (1Y)Largest decline over 1 year | -14.79% | -50.97% | +36.18% |
Max Drawdown (3Y)Largest decline over 3 years | -25.20% | -50.97% | +25.77% |
Max Drawdown (5Y)Largest decline over 5 years | -38.62% | -50.97% | +12.35% |
Max Drawdown (10Y)Largest decline over 10 years | -38.62% | -50.97% | +12.35% |
Current DrawdownCurrent decline from peak | -2.61% | -50.42% | +47.81% |
Average DrawdownAverage peak-to-trough decline | -9.67% | -44.66% | +34.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.12% | 22.37% | -17.25% |
Volatility
IWP vs. SLV - Volatility Comparison
The current volatility for iShares Russell Mid-Cap Growth ETF (IWP) is 5.70%, while iShares Silver Trust (SLV) has a volatility of 15.50%. This indicates that IWP 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
| IWP | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 15.50% | -9.80% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 59.60% | -46.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.98% | 60.77% | -43.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.40% | 36.74% | -14.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.69% | 32.16% | -10.47% |
IWP vs. SLV - Expense Ratio Comparison
IWP has a 0.23% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
IWP vs. SLV - Dividend Comparison
IWP's dividend yield for the trailing twelve months is around 0.35%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 0.35% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
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
IWP 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 (15.50%) compared to IWP (5.70%). In terms of maximum drawdown, IWP dropped -56.92% vs SLV's -76.28%.
On 10-year performance, IWP leads with 13.00% vs 11.99% for SLV. On fees, IWP is cheaper at 0.23% per year. On volatility, IWP has been the lower-risk option at 5.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWP has performed better with a 13.00% return vs 11.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWP is cheaper with a 0.23% expense ratio, compared with 0.50% for SLV.
IWP has the higher dividend yield at 0.35%, compared with 0.00% for SLV.
IWP is categorized as Mid Cap Growth Equities, while SLV is Silver. IWP tracks Russell Midcap Growth Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.23% for IWP and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (0.97 vs 0.21), 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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