PSLV.TO vs. PHYS

Last updated Jul 21, 2026

PSLV.TO (Sprott Physical Silver Trust) and PHYS (Sprott Physical Gold Trust) are both stocks. PSLV.TO operates in Silver (Basic Materials), while PHYS operates in Asset Management (Financial Services). Over the past 5 years, PSLV.TO returned 18.08%/yr vs 18.61%/yr for PHYS. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

PSLV.TO vs. PHYS - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, PSLV.TO achieves a -21.69% return, which is significantly lower than PHYS's -6.25% return.

PSLV.TO

• 1D: 0.59%
• 1M: -12.63%
• 6M: -41.73%
• YTD: -21.69%
• 1Y: 44.00%
• 3Y*: 31.60%
• 5Y*: 18.08%
• 10Y*: —
• ALL TIME*: 15.56%

PHYS

• 1D: -0.36%
• 1M: -5.51%
• 6M: -12.86%
• YTD: -6.25%
• 1Y: 20.37%
• 3Y*: 28.15%
• 5Y*: 18.61%
• 10Y*: 11.46%
• ALL TIME*: 9.11%

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

PSLV.TO vs. PHYS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PSLV.TO Sprott Physical Silver Trust	-21.69%	134.39%	29.63%	-4.04%	9.85%	-14.35%	39.25%	11.53%	1.73%
PHYS Sprott Physical Gold Trust	-6.25%	56.47%	37.13%	10.29%	4.41%	-4.88%	20.95%	13.27%	5.77%

Correlation

The correlation between PSLV.TO and PHYS is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Feb 5, 2018	0.61

The correlation between PSLV.TO and PHYS has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.

Fundamentals

Market Cap PSLV.TO : CA$16.19B PHYS : $14.41B
EPS PSLV.TO : $10.74 PHYS : $11.83
PE Ratio PSLV.TO : 1.69 PHYS : 2.56
PEG Ratio PSLV.TO : 0.00 PHYS : 0.03
PS Ratio PSLV.TO : 5.54 PHYS : 13.56
PB Ratio PSLV.TO : 0.98 PHYS : 0.84
Total Revenue (TTM) PSLV.TO : $2.51B PHYS : $1.06B
Gross Profit (TTM) PSLV.TO : $2.47B PHYS : $3.03B
EBITDA (TTM) PSLV.TO : $8.21B PHYS : $5.61B

Return for Risk

PSLV.TO vs. PHYS — Risk / Return Rank

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

PSLV.TO

PSLV.TO Risk / Return Rank: 67
PSLV.TO Sharpe Ratio Rank: 70
PSLV.TO Sortino Ratio Rank: 64
PSLV.TO Omega Ratio Rank: 69
PSLV.TO Calmar Ratio Rank: 65
PSLV.TO Martin Ratio Rank: 64

PHYS

PHYS Risk / Return Rank: 62
PHYS Sharpe Ratio Rank: 67
PHYS Sortino Ratio Rank: 58
PHYS Omega Ratio Rank: 61
PHYS Calmar Ratio Rank: 61
PHYS Martin Ratio Rank: 62

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.

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

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Silver Trust (PSLV.TO) and Sprott Physical Gold Trust (PHYS). 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.

	PSLV.TO	PHYS	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.71	+0.03
Sortino ratio: Return per unit of downside risk	1.20	1.05	+0.16
Omega ratio: Gain probability vs. loss probability	1.18	1.15	+0.03
Calmar ratio: Return relative to maximum drawdown	0.90	0.84	+0.06
Martin ratio: Return relative to average drawdown	1.87	1.96	-0.09

PSLV.TO vs. PHYS - Sharpe Ratio Comparison

The current PSLV.TO Sharpe Ratio is 0.75, which is comparable to the PHYS Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of PSLV.TO and PHYS, 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

PSLV.TO vs. PHYS - Drawdown Comparison

The maximum PSLV.TO drawdown since its inception was -49.08%, which is greater than PHYS's maximum drawdown of -36.85%. Use the drawdown chart below to compare losses from any high point for PSLV.TO and PHYS.

Drawdown Indicators

	PSLV.TO	PHYS	Difference
Max Drawdown Largest peak-to-trough decline	-49.08%	-36.85%	-12.23%
Max Drawdown (1Y) Largest decline over 1 year	-49.08%	-24.30%	-24.78%
Max Drawdown (3Y) Largest decline over 3 years	-49.08%	-24.30%	-24.78%
Max Drawdown (5Y) Largest decline over 5 years	-49.08%	-24.30%	-24.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.30%	—
Current Drawdown Current decline from peak	-48.41%	-23.79%	-24.62%
Average Drawdown Average peak-to-trough decline	-16.09%	-13.95%	-2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.56%	10.41%	+13.15%

Volatility

PSLV.TO vs. PHYS - Volatility Comparison

Sprott Physical Silver Trust (PSLV.TO) has a higher volatility of 12.58% compared to Sprott Physical Gold Trust (PHYS) at 6.55%. This indicates that PSLV.TO's price experiences larger fluctuations and is considered to be riskier than PHYS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSLV.TO	PHYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.58%	6.55%	+6.03%
Volatility (6M) Calculated over the trailing 6-month period	54.67%	24.70%	+29.97%
Volatility (1Y) Calculated over the trailing 1-year period	59.27%	28.74%	+30.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.55%	19.55%	+15.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.54%	17.60%	+19.94%

Dividends

PSLV.TO vs. PHYS - Dividend Comparison

Neither PSLV.TO nor PHYS has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both PSLV.TO and PHYS in my portfolio?

PSLV.TO and PHYS have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.