PLTM vs. SLVO

Last updated Jun 4, 2026

PLTM (GraniteShares Platinum Trust) and SLVO (UBS ETRACS Silver Shares Covered Call ETN) are both exchange-traded funds - PLTM is a Precious Metals fund tracking the Platinum London PM Fix ($/ozt), while SLVO is a Silver fund tracking the Credit Suisse NASDAQ Silver FLOWS 106 Index. Both are passively managed. Over the past year, PLTM returned 71.85% vs 62.53% for SLVO. A 0.64 correlation means they provide meaningful diversification when combined. PLTM charges 0.50%/yr vs 0.65%/yr for SLVO.

Performance

PLTM vs. SLVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Platinum Trust (PLTM) and UBS ETRACS Silver Shares Covered Call ETN (SLVO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLTM achieves a -9.33% return, which is significantly lower than SLVO's 13.49% return.

PLTM

• 1D: -3.82%
• 1M: -4.28%
• YTD: -9.33%
• 6M: 11.67%
• 1Y: 71.85%
• 3Y*: 22.22%
• 5Y*: 9.22%
• 10Y*: —

SLVO

• 1D: -1.17%
• 1M: 4.05%
• YTD: 13.49%
• 6M: 17.86%
• 1Y: 62.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PLTM vs. SLVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PLTM GraniteShares Platinum Trust	-9.33%	124.46%	-11.10%
SLVO UBS ETRACS Silver Shares Covered Call ETN	13.49%	71.20%	1.24%

Correlation

The correlation between PLTM and SLVO is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	0.64

The correlation between PLTM and SLVO has been stable across timeframes, ranging from 0.64 to 0.64 - a consistent structural relationship.

Return for Risk

PLTM vs. SLVO — Risk / Return Rank

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

PLTM

PLTM Risk / Return Rank: 36
PLTM Sharpe Ratio Rank: 39
PLTM Sortino Ratio Rank: 33
PLTM Omega Ratio Rank: 39
PLTM Calmar Ratio Rank: 42
PLTM Martin Ratio Rank: 30

SLVO

SLVO Risk / Return Rank: 66
SLVO Sharpe Ratio Rank: 62
SLVO Sortino Ratio Rank: 48
SLVO Omega Ratio Rank: 72
SLVO Calmar Ratio Rank: 72
SLVO Martin Ratio Rank: 77

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.

PLTM vs. SLVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Platinum Trust (PLTM) and UBS ETRACS Silver Shares Covered Call ETN (SLVO). 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.

	PLTM	SLVO	Difference
Sharpe ratio Return per unit of total volatility	1.41	2.13	-0.72
Sortino ratio Return per unit of downside risk	1.80	2.39	-0.60
Omega ratio Gain probability vs. loss probability	1.26	1.44	-0.18
Calmar ratio Return relative to maximum drawdown	2.09	3.65	-1.55
Martin ratio Return relative to average drawdown	4.43	15.01	-10.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLTM vs. SLVO - Sharpe Ratio Comparison

The current PLTM Sharpe Ratio is 1.41, which is lower than the SLVO Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of PLTM and SLVO, 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

	PLTM	SLVO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	2.13	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.61	-1.37

Drawdowns

PLTM vs. SLVO - Drawdown Comparison

The maximum PLTM drawdown since its inception was -42.32%, which is greater than SLVO's maximum drawdown of -17.23%. Use the drawdown chart below to compare losses from any high point for PLTM and SLVO.

Drawdown Indicators

	PLTM	SLVO	Difference
Max Drawdown Largest peak-to-trough decline	-42.32%	-17.23%	-25.09%
Max Drawdown (1Y) Largest decline over 1 year	-34.52%	-17.23%	-17.29%
Max Drawdown (3Y) Largest decline over 3 years	-34.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.52%	—	—
Current Drawdown Current decline from peak	-33.02%	-3.22%	-29.80%
Average Drawdown Average peak-to-trough decline	-18.55%	-3.13%	-15.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.28%	4.18%	+12.10%

Volatility

PLTM vs. SLVO - Volatility Comparison

GraniteShares Platinum Trust (PLTM) has a higher volatility of 10.88% compared to UBS ETRACS Silver Shares Covered Call ETN (SLVO) at 6.39%. This indicates that PLTM's price experiences larger fluctuations and is considered to be riskier than SLVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLTM	SLVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.88%	6.39%	+4.49%
Volatility (6M) Calculated over the trailing 6-month period	45.45%	27.33%	+18.12%
Volatility (1Y) Calculated over the trailing 1-year period	51.40%	29.53%	+21.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.83%	25.23%	+7.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.98%	25.23%	+5.75%

PLTM vs. SLVO - Expense Ratio Comparison

PLTM has a 0.50% expense ratio, which is lower than SLVO's 0.65% expense ratio.

Dividends

PLTM vs. SLVO - Dividend Comparison

PLTM has not paid dividends to shareholders, while SLVO's dividend yield for the trailing twelve months is around 46.44%.

Position	TTM	2025	2024
PLTM GraniteShares Platinum Trust	0.00%	0.00%	0.00%
SLVO UBS ETRACS Silver Shares Covered Call ETN	46.44%	19.35%	14.45%

Frequently Asked Questions

Can I hold both PLTM and SLVO in my portfolio?

PLTM and SLVO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTM or SLVO?

PLTM has higher volatility (10.88%) compared to SLVO (6.39%). In terms of maximum drawdown, PLTM dropped -42.32% vs SLVO's -17.23%.

Which ETF is better, PLTM or SLVO?

On 1-year performance, PLTM leads with 71.85% vs 62.53% for SLVO. On fees, PLTM is cheaper at 0.50% per year. On volatility, SLVO has been the lower-risk option at 6.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTM or SLVO?

Over the 1-year period, PLTM has performed better with a 71.85% return vs 62.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTM or SLVO?

PLTM is cheaper with a 0.50% expense ratio, compared with 0.65% for SLVO.

Which ETF pays a higher dividend yield, PLTM or SLVO?

SLVO has the higher dividend yield at 46.44%, compared with 0.00% for PLTM.

What is the main difference between PLTM and SLVO?

PLTM is categorized as Precious Metals, while SLVO is Silver. PLTM tracks Platinum London PM Fix ($/ozt), while SLVO tracks Credit Suisse NASDAQ Silver FLOWS 106 Index. They also come from different issuers: GraniteShares and UBS. Their fees differ too: 0.50% for PLTM and 0.65% for SLVO.

Which has better risk-adjusted returns?

SLVO currently has the higher Sharpe Ratio (2.13 vs 1.41), 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.