IWY vs. SLV
IWY (iShares Russell Top 200 Growth ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - IWY is a Large Cap Growth Equities fund tracking the Russell Top 200 Growth Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, IWY returned 18.79%/yr vs 11.60%/yr for SLV. Their 0.18 correlation means their historical movements had little consistent relationship. IWY charges 0.20%/yr vs 0.50%/yr for SLV.
Performance
IWY vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, IWY achieves a 4.76% return, which is significantly higher than SLV's -12.96% return. Over the past 10 years, IWY has outperformed SLV with an annualized return of 18.79%, while SLV has yielded a comparatively lower 11.60% annualized return.
IWY
- 1D
- -0.31%
- 1M
- 0.64%
- 6M
- 9.38%
- YTD
- 4.76%
- 1Y
- 14.76%
- 3Y*
- 22.64%
- 5Y*
- 13.56%
- 10Y*
- 18.79%
- ALL TIME*
- 17.00%
SLV
- 1D
- 4.14%
- 1M
- -0.07%
- 6M
- -29.19%
- YTD
- -12.96%
- 1Y
- 63.23%
- 3Y*
- 37.31%
- 5Y*
- 20.01%
- 10Y*
- 11.60%
- ALL TIME*
- 7.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $105.51M | $107.89M | $113.92M | |
| $767.61M | $778.40M | $1.22B |
IWY vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWY iShares Russell Top 200 Growth ETF | 4.76% | 18.19% | 34.89% | 46.49% | -29.91% | 31.05% | 39.01% | 36.20% | -0.72% | 31.69% |
SLV iShares Silver Trust | -12.96% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between IWY and SLV is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.21 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2009 | 0.18 |
The correlation between IWY and SLV shifts across timeframes, from 0.18 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IWY vs. SLV — Risk / Return Rank
IWY
SLV
IWY vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Top 200 Growth ETF (IWY) 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.
| IWY | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.23 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 1.22 | -0.32 |
| Martin ratioReturn relative to average drawdown | 2.58 | 2.28 | +0.30 |
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Drawdowns
IWY vs. SLV - Drawdown Comparison
The maximum IWY drawdown since its inception was -32.68%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for IWY and SLV.
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Drawdown Indicators
| IWY | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.68% | -76.28% | +43.60% |
Max Drawdown (1Y)Largest decline over 1 year | -16.63% | -52.28% | +35.65% |
Max Drawdown (3Y)Largest decline over 3 years | -23.22% | -52.28% | +29.06% |
Max Drawdown (5Y)Largest decline over 5 years | -32.68% | -52.28% | +19.60% |
Max Drawdown (10Y)Largest decline over 10 years | -32.68% | -52.28% | +19.60% |
Current DrawdownCurrent decline from peak | -4.06% | -46.90% | +42.84% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -44.69% | +39.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.73% | 27.82% | -22.09% |
Volatility
IWY vs. SLV - Volatility Comparison
The current volatility for iShares Russell Top 200 Growth ETF (IWY) is 7.41%, while iShares Silver Trust (SLV) has a volatility of 11.38%. This indicates that IWY 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
| IWY | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.41% | 11.38% | -3.97% |
Volatility (6M)Calculated over the trailing 6-month period | 14.54% | 44.01% | -29.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.89% | 61.50% | -43.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.87% | 37.04% | -15.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.16% | 32.24% | -11.08% |
IWY vs. SLV - Expense Ratio Comparison
IWY has a 0.20% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
IWY vs. SLV - Dividend Comparison
IWY'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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWY iShares Russell Top 200 Growth ETF | 0.35% | 0.36% | 0.42% | 0.68% | 0.88% | 0.50% | 0.71% | 1.06% | 1.32% | 1.26% | 1.51% | 1.58% |
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
IWY and SLV have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (11.38%) compared to IWY (7.41%). In terms of maximum drawdown, IWY dropped -32.68% vs SLV's -76.28%.
On 10-year performance, IWY leads with 18.79% vs 11.60% for SLV. On fees, IWY is cheaper at 0.20% per year. On volatility, IWY has been the lower-risk option at 7.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWY has performed better with a 18.79% return vs 11.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWY is cheaper with a 0.20% expense ratio, compared with 0.50% for SLV.
IWY has the higher dividend yield at 0.35%, compared with 0.00% for SLV.
IWY is categorized as Large Cap Growth Equities, while SLV is Silver. IWY tracks Russell Top 200 Growth Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.20% for IWY and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (1.03 vs 0.83), 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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