NA.TO vs. PSLV

Last updated Apr 1, 2026

Compare and contrast key facts about National Bank of Canada (NA.TO) and Sprott Physical Silver Trust (PSLV).

Performance

NA.TO vs. PSLV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in National Bank of Canada (NA.TO) and Sprott Physical Silver Trust (PSLV). The values are adjusted to include any dividend payments, if applicable.

NA.TO vs. PSLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NA.TO National Bank of Canada	5.02%	36.15%	35.91%	15.53%	-1.45%	39.02%	4.01%	34.04%	-6.92%	19.77%
PSLV Sprott Physical Silver Trust	4.52%	133.84%	29.69%	-4.10%	10.06%	-14.91%	40.40%	11.24%	-4.35%	-2.36%

Different Trading Currencies

NA.TO is traded in CAD, while PSLV is traded in USD. To make them comparable, the PSLV values have been converted to CAD using the latest available exchange rates.

Fundamentals

Market Cap NA.TO : CA$71.06B PSLV : $13.83B
EPS NA.TO : CA$10.82 PSLV : $5.19
PE Ratio NA.TO : 16.64 PSLV : 4.70
PEG Ratio NA.TO : 4.66 PSLV : 0.02
PS Ratio NA.TO : 2.64 PSLV : 27.17
PB Ratio NA.TO : 2.32 PSLV : 1.48
Total Revenue (TTM) NA.TO : CA$26.97B PSLV : $508.94M
Gross Profit (TTM) NA.TO : CA$13.68B PSLV : $2.95B
EBITDA (TTM) NA.TO : CA$6.07B PSLV : $2.94B

Returns By Period

In the year-to-date period, NA.TO achieves a 5.02% return, which is significantly higher than PSLV's 4.52% return. Over the past 10 years, NA.TO has outperformed PSLV with an annualized return of 20.26%, while PSLV has yielded a comparatively lower 15.63% annualized return.

NA.TO

• 1D: 2.70%
• 1M: -4.78%
• YTD: 5.02%
• 6M: 23.49%
• 1Y: 56.24%
• 3Y*: 28.00%
• 5Y*: 20.69%
• 10Y*: 20.26%

PSLV

• 1D: 7.37%
• 1M: -19.48%
• YTD: 4.52%
• 6M: 55.21%
• 1Y: 103.25%
• 3Y*: 44.37%
• 5Y*: 24.72%
• 10Y*: 15.63%

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

Return for Risk

NA.TO vs. PSLV — Risk / Return Rank

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

NA.TO

NA.TO Risk / Return Rank: 96
NA.TO Sharpe Ratio Rank: 97
NA.TO Sortino Ratio Rank: 98
NA.TO Omega Ratio Rank: 97
NA.TO Calmar Ratio Rank: 93
NA.TO Martin Ratio Rank: 97

PSLV

PSLV Risk / Return Rank: 86
PSLV Sharpe Ratio Rank: 91
PSLV Sortino Ratio Rank: 81
PSLV Omega Ratio Rank: 89
PSLV Calmar Ratio Rank: 84
PSLV Martin Ratio Rank: 87

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.

NA.TO vs. PSLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for National Bank of Canada (NA.TO) and Sprott Physical Silver Trust (PSLV). 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.

	NA.TO	PSLV	Difference
Sharpe ratio Return per unit of total volatility	3.12	1.88	+1.24
Sortino ratio Return per unit of downside risk	4.21	2.07	+2.14
Omega ratio Gain probability vs. loss probability	1.64	1.36	+0.27
Calmar ratio Return relative to maximum drawdown	4.79	2.66	+2.12
Martin ratio Return relative to average drawdown	19.65	8.26	+11.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NA.TO vs. PSLV - Sharpe Ratio Comparison

The current NA.TO Sharpe Ratio is 3.12, which is higher than the PSLV Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of NA.TO and PSLV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NA.TO	PSLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	1.88	+1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.20	0.76	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	0.54	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.26	+0.32

Correlation

The correlation between NA.TO and PSLV is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NA.TO vs. PSLV - Dividend Comparison

NA.TO's dividend yield for the trailing twelve months is around 2.69%, while PSLV has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NA.TO National Bank of Canada	2.69%	2.75%	4.17%	4.03%	4.03%	3.11%	3.96%	3.77%	4.44%	3.70%	4.03%	5.16%
PSLV Sprott Physical 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%

Drawdowns

NA.TO vs. PSLV - Drawdown Comparison

The maximum NA.TO drawdown since its inception was -58.47%, smaller than the maximum PSLV drawdown of -69.07%. Use the drawdown chart below to compare losses from any high point for NA.TO and PSLV.

Drawdown Indicators

	NA.TO	PSLV	Difference
Max Drawdown Largest peak-to-trough decline	-58.47%	-79.38%	+20.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.94%	-40.65%	+28.71%
Max Drawdown (5Y) Largest decline over 5 years	-22.58%	-40.65%	+18.07%
Max Drawdown (10Y) Largest decline over 10 years	-48.22%	-42.79%	-5.43%
Current Drawdown Current decline from peak	-5.79%	-32.92%	+27.13%
Average Drawdown Average peak-to-trough decline	-10.68%	-58.45%	+47.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	12.66%	-9.75%

Volatility

NA.TO vs. PSLV - Volatility Comparison

The current volatility for National Bank of Canada (NA.TO) is 5.98%, while Sprott Physical Silver Trust (PSLV) has a volatility of 19.57%. This indicates that NA.TO experiences smaller price fluctuations and is considered to be less risky than PSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NA.TO	PSLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	19.57%	-13.59%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	55.17%	-42.85%
Volatility (1Y) Calculated over the trailing 1-year period	18.12%	55.26%	-37.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	32.84%	-15.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.97%	29.12%	-8.15%

Financials