IYR vs. SLV

Last updated Jun 4, 2026

IYR (iShares U.S. Real Estate ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - IYR is a REIT fund tracking the Dow Jones U.S. Real Estate Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, IYR returned 5.47%/yr vs 15.55%/yr for SLV. At a 0.17 correlation, their price movements are largely independent. IYR charges 0.42%/yr vs 0.50%/yr for SLV.

Performance

IYR vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Real Estate ETF (IYR) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYR achieves a 6.81% return, which is significantly higher than SLV's 2.78% return. Over the past 10 years, IYR has underperformed SLV with an annualized return of 5.47%, while SLV has yielded a comparatively higher 15.55% annualized return.

IYR

• 1D: 0.01%
• 1M: -1.60%
• YTD: 6.81%
• 6M: 5.67%
• 1Y: 8.44%
• 3Y*: 8.68%
• 5Y*: 2.02%
• 10Y*: 5.47%

SLV

• 1D: -2.62%
• 1M: 0.41%
• YTD: 2.78%
• 6M: 24.76%
• 1Y: 110.59%
• 3Y*: 45.06%
• 5Y*: 20.76%
• 10Y*: 15.55%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IYR vs. SLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYR iShares U.S. Real Estate ETF	6.81%	3.38%	4.41%	11.89%	-25.51%	38.74%	-5.23%	28.21%	-4.33%	9.31%
SLV iShares Silver Trust	2.78%	144.66%	20.89%	-1.09%	2.37%	-12.45%	47.30%	14.88%	-9.19%	5.82%

Correlation

The correlation between IYR and SLV is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since May 1, 2006	0.17

IYR vs. SLV - Sectors Allocation Comparison

Sectors	IYR	SLV
Real Estate	97.9%	-
Basic Materials	1.3%	100.0%
Communication Services	0.6%	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IYR vs. SLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IYR

IYR Risk / Return Rank: 20
IYR Sharpe Ratio Rank: 19
IYR Sortino Ratio Rank: 18
IYR Omega Ratio Rank: 18
IYR Calmar Ratio Rank: 21
IYR Martin Ratio Rank: 24

SLV

SLV Risk / Return Rank: 47
SLV Sharpe Ratio Rank: 54
SLV Sortino Ratio Rank: 40
SLV Omega Ratio Rank: 56
SLV Calmar Ratio Rank: 52
SLV Martin Ratio Rank: 36

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.

IYR vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Real Estate ETF (IYR) 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.

	IYR	SLV	Difference
Sharpe ratio: Return per unit of total volatility	0.64	1.89	-1.25
Sortino ratio: Return per unit of downside risk	0.96	2.07	-1.11
Omega ratio: Gain probability vs. loss probability	1.12	1.35	-0.23
Calmar ratio: Return relative to maximum drawdown	0.99	2.62	-1.63
Martin ratio: Return relative to average drawdown	3.10	5.64	-2.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYR vs. SLV - Sharpe Ratio Comparison

The current IYR Sharpe Ratio is 0.64, which is lower than the SLV Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of IYR and SLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IYR	SLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	1.89	-1.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.58	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	0.49	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.25	+0.08

Drawdowns

IYR vs. SLV - Drawdown Comparison

The maximum IYR drawdown since its inception was -74.13%, roughly equal to the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for IYR and SLV.

Drawdown Indicators

	IYR	SLV	Difference
Max Drawdown Largest peak-to-trough decline	-74.13%	-76.28%	+2.15%
Max Drawdown (1Y) Largest decline over 1 year	-8.54%	-42.45%	+33.91%
Max Drawdown (3Y) Largest decline over 3 years	-17.52%	-42.45%	+24.93%
Max Drawdown (5Y) Largest decline over 5 years	-33.75%	-42.45%	+8.70%
Max Drawdown (10Y) Largest decline over 10 years	-42.32%	-42.81%	+0.49%
Current Drawdown Current decline from peak	-3.91%	-37.30%	+33.39%
Average Drawdown Average peak-to-trough decline	-12.91%	-44.67%	+31.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	19.67%	-16.94%

Volatility

IYR vs. SLV - Volatility Comparison

The current volatility for iShares U.S. Real Estate ETF (IYR) is 3.69%, while iShares Silver Trust (SLV) has a volatility of 16.30%. This indicates that IYR 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.

Volatility by Period

	IYR	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	16.30%	-12.61%
Volatility (6M) Calculated over the trailing 6-month period	9.35%	58.31%	-48.96%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	58.90%	-45.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	36.15%	-17.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.31%	31.84%	-11.53%

IYR vs. SLV - Expense Ratio Comparison

IYR has a 0.42% expense ratio, which is lower than SLV's 0.50% expense ratio.

Dividends

IYR vs. SLV - Dividend Comparison

IYR's dividend yield for the trailing twelve months is around 2.25%, while SLV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IYR iShares U.S. Real Estate ETF	2.25%	2.48%	2.57%	2.75%	2.92%	2.06%	2.58%	3.05%	3.53%	3.73%	4.41%	3.92%
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

Can I hold both IYR and SLV in my portfolio?

IYR and SLV have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYR or SLV?

SLV has higher volatility (16.30%) compared to IYR (3.69%). In terms of maximum drawdown, IYR dropped -74.13% vs SLV's -76.28%.

Which ETF is better, IYR or SLV?

On 10-year performance, SLV leads with 15.55% vs 5.47% for IYR. On fees, IYR is cheaper at 0.42% per year. On volatility, IYR has been the lower-risk option at 3.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYR or SLV?

Over the 10-year period, SLV has performed better with a 15.55% return vs 5.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYR or SLV?

IYR is cheaper with a 0.42% expense ratio, compared with 0.50% for SLV.

Which ETF pays a higher dividend yield, IYR or SLV?

IYR has the higher dividend yield at 2.25%, compared with 0.00% for SLV.

What is the main difference between IYR and SLV?

IYR is categorized as REIT, while SLV is Silver. IYR tracks Dow Jones U.S. Real Estate Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.42% for IYR and 0.50% for SLV.

Which has better risk-adjusted returns?

SLV currently has the higher Sharpe Ratio (1.89 vs 0.64), 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.