JANW vs. SIVR

Last updated Jun 13, 2026

JANW (AllianzIM U.S. Large Cap Buffer20 Jan ETF) and SIVR (abrdn Physical Silver Shares ETF) are both exchange-traded funds - JANW is a Options Trading fund actively managed by Allianz, while SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt). JANW is actively managed, while SIVR is passively managed. Over the past 5 years, JANW returned 8.08%/yr vs 19.07%/yr for SIVR. At a 0.23 correlation, their price movements are largely independent. JANW charges 0.74%/yr vs 0.30%/yr for SIVR.

Performance

JANW vs. SIVR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and abrdn Physical Silver Shares ETF (SIVR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANW achieves a 4.00% return, which is significantly higher than SIVR's -4.75% return.

JANW

• 1D: 0.18%
• 1M: 0.23%
• YTD: 4.00%
• 6M: 4.45%
• 1Y: 12.31%
• 3Y*: 10.44%
• 5Y*: 8.08%
• 10Y*: —

SIVR

• 1D: 0.78%
• 1M: -18.81%
• YTD: -4.75%
• 6M: 9.46%
• 1Y: 86.32%
• 3Y*: 41.59%
• 5Y*: 19.07%
• 10Y*: 14.22%

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

JANW vs. SIVR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JANW AllianzIM U.S. Large Cap Buffer20 Jan ETF	4.00%	10.05%	10.99%	14.56%	-0.60%	6.31%
SIVR abrdn Physical Silver Shares ETF	-4.75%	145.34%	21.08%	-0.91%	2.59%	-12.33%

Correlation

The correlation between JANW and SIVR is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021	0.23

Return for Risk

JANW vs. SIVR — Risk / Return Rank

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

JANW

JANW Risk / Return Rank: 86
JANW Sharpe Ratio Rank: 87
JANW Sortino Ratio Rank: 90
JANW Omega Ratio Rank: 91
JANW Calmar Ratio Rank: 72
JANW Martin Ratio Rank: 89

SIVR

SIVR Risk / Return Rank: 43
SIVR Sharpe Ratio Rank: 47
SIVR Sortino Ratio Rank: 38
SIVR Omega Ratio Rank: 54
SIVR Calmar Ratio Rank: 43
SIVR Martin Ratio Rank: 32

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.

JANW vs. SIVR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and abrdn Physical Silver Shares ETF (SIVR). 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.

	JANW	SIVR	Difference
Sharpe ratio: Return per unit of total volatility	2.50	1.44	+1.06
Sortino ratio: Return per unit of downside risk	3.71	1.76	+1.94
Omega ratio: Gain probability vs. loss probability	1.54	1.29	+0.24
Calmar ratio: Return relative to maximum drawdown	3.23	1.90	+1.33
Martin ratio: Return relative to average drawdown	17.55	4.12	+13.43

JANW vs. SIVR - Sharpe Ratio Comparison

The current JANW Sharpe Ratio is 2.50, which is higher than the SIVR Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of JANW and SIVR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JANW vs. SIVR - Drawdown Comparison

The maximum JANW drawdown since its inception was -9.69%, smaller than the maximum SIVR drawdown of -75.85%. Use the drawdown chart below to compare losses from any high point for JANW and SIVR.

Drawdown Indicators

	JANW	SIVR	Difference
Max Drawdown Largest peak-to-trough decline	-9.69%	-75.85%	+66.16%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-45.33%	+41.68%
Max Drawdown (3Y) Largest decline over 3 years	-8.66%	-45.33%	+36.67%
Max Drawdown (5Y) Largest decline over 5 years	-9.69%	-45.33%	+35.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.33%	—
Current Drawdown Current decline from peak	-0.54%	-41.89%	+41.35%
Average Drawdown Average peak-to-trough decline	-1.23%	-47.83%	+46.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	20.85%	-20.18%

Volatility

JANW vs. SIVR - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) is 1.31%, while abrdn Physical Silver Shares ETF (SIVR) has a volatility of 16.37%. This indicates that JANW experiences smaller price fluctuations and is considered to be less risky than SIVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANW	SIVR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	16.37%	-15.06%
Volatility (6M) Calculated over the trailing 6-month period	3.83%	59.11%	-55.28%
Volatility (1Y) Calculated over the trailing 1-year period	4.71%	59.76%	-55.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.79%	36.48%	-29.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	32.03%	-25.36%

JANW vs. SIVR - Expense Ratio Comparison

JANW has a 0.74% expense ratio, which is higher than SIVR's 0.30% expense ratio.

Dividends

JANW vs. SIVR - Dividend Comparison

Neither JANW nor SIVR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JANW and SIVR in my portfolio?

JANW and SIVR have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JANW or SIVR?

SIVR has higher volatility (16.37%) compared to JANW (1.31%). In terms of maximum drawdown, JANW dropped -9.69% vs SIVR's -75.85%.

Which ETF is better, JANW or SIVR?

On 5-year performance, SIVR leads with 19.07% vs 8.08% for JANW. On fees, SIVR is cheaper at 0.30% per year. On volatility, JANW has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JANW or SIVR?

Over the 5-year period, SIVR has performed better with a 19.07% return vs 8.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JANW or SIVR?

SIVR is cheaper with a 0.30% expense ratio, compared with 0.74% for JANW.

Which ETF pays a higher dividend yield, JANW or SIVR?

JANW and SIVR have nearly identical dividend yields, around 0.00%.

What is the main difference between JANW and SIVR?

JANW is categorized as Options Trading, while SIVR is Silver. They also come from different issuers: Allianz and abrdn. Their fees differ too: 0.74% for JANW and 0.30% for SIVR.

Which has better risk-adjusted returns?

JANW currently has the higher Sharpe Ratio (2.50 vs 1.44), 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.