MNS.TO vs. SSLN.L
MNS.TO (Royal Canadian Mint - Canadian Silver Reserves) and SSLN.L (iShares Physical Silver ETC) are both Silver funds - MNS.TO tracks the N/A (Physical Bullion) while SSLN.L tracks the LBMA Silver Price. Both are passively managed. Over the past 5 years, MNS.TO returned 20.15%/yr vs 21.14%/yr for SSLN.L. A 0.66 correlation means they provide meaningful diversification when combined. MNS.TO charges 0.45%/yr vs 0.20%/yr for SSLN.L.
Performance
MNS.TO vs. SSLN.L - Performance Comparison
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Different Trading Currencies
MNS.TO is traded in CAD, while SSLN.L is traded in GBp. To make them comparable, the SSLN.L values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MNS.TO achieves a -22.97% return, which is significantly lower than SSLN.L's -13.58% return.
MNS.TO
- 1D
- 2.91%
- 1M
- -18.46%
- YTD
- -22.97%
- 6M
- -26.52%
- 1Y
- 65.22%
- 3Y*
- 42.28%
- 5Y*
- 20.15%
- 10Y*
- —
SSLN.L
- 1D
- 3.13%
- 1M
- -18.81%
- YTD
- -13.58%
- 6M
- -18.81%
- 1Y
- 71.54%
- 3Y*
- 40.95%
- 5Y*
- 21.14%
- 10Y*
- 12.57%
MNS.TO vs. SSLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MNS.TO Royal Canadian Mint - Canadian Silver Reserves | -22.97% | 161.12% | 41.73% | -5.85% | 5.27% | -15.46% | 45.70% | 9.85% | -1.65% | -1.63% |
SSLN.L iShares Physical Silver ETC | -13.58% | 136.33% | 31.41% | -3.60% | 9.93% | -12.67% | 41.91% | 12.37% | -1.28% | -3.61% |
Correlation
The correlation between MNS.TO and SSLN.L is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2016 | 0.66 |
The correlation between MNS.TO and SSLN.L shifts across timeframes, from 0.66 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MNS.TO vs. SSLN.L — Risk / Return Rank
MNS.TO
SSLN.L
MNS.TO vs. SSLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) and iShares Physical Silver ETC (SSLN.L). 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.
| MNS.TO | SSLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.25 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.51 | -0.12 |
| Martin ratioReturn relative to average drawdown | 3.21 | 3.32 | -0.10 |
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Drawdowns
MNS.TO vs. SSLN.L - Drawdown Comparison
The maximum MNS.TO drawdown since its inception was -47.17%, smaller than the maximum SSLN.L drawdown of -74.83%. Use the drawdown chart below to compare losses from any high point for MNS.TO and SSLN.L.
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Drawdown Indicators
| MNS.TO | SSLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.17% | -74.83% | +27.66% |
Max Drawdown (1Y)Largest decline over 1 year | -47.17% | -47.05% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -47.17% | -47.05% | -0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -47.17% | -47.05% | -0.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.05% | — |
Current DrawdownCurrent decline from peak | -42.80% | -45.39% | +2.59% |
Average DrawdownAverage peak-to-trough decline | -17.78% | -56.19% | +38.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.35% | 21.48% | -1.13% |
Volatility
MNS.TO vs. SSLN.L - Volatility Comparison
Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) and iShares Physical Silver ETC (SSLN.L) have volatilities of 14.74% and 15.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNS.TO | SSLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.74% | 15.23% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 52.69% | 53.93% | -1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.97% | 56.99% | -1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.55% | 38.39% | -3.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.23% | 32.68% | -1.45% |
MNS.TO vs. SSLN.L - Expense Ratio Comparison
MNS.TO has a 0.45% expense ratio, which is higher than SSLN.L's 0.20% expense ratio.
Dividends
MNS.TO vs. SSLN.L - Dividend Comparison
Neither MNS.TO nor SSLN.L has paid dividends to shareholders.
Frequently Asked Questions
MNS.TO and SSLN.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SSLN.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSLN.L is cheaper with a 0.20% expense ratio, compared with 0.45% for MNS.TO.
MNS.TO tracks N/A (Physical Bullion), while SSLN.L tracks LBMA Silver Price. They also come from different issuers: Royal Canadian Mint and iShares. Their fees differ too: 0.45% for MNS.TO and 0.20% for SSLN.L.
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