PSLV vs. AOS

Last updated Jun 13, 2026

PSLV (Sprott Physical Silver Trust) is Silver fund tracking the No Index (Physical Silver), while AOS (A. O. Smith Corporation) is a stock. Over the past 10 years, PSLV returned 12.48%/yr vs 5.40%/yr for AOS. At a 0.09 correlation, their price movements are largely independent.

Performance

PSLV vs. AOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Silver Trust (PSLV) and A. O. Smith Corporation (AOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSLV achieves a -8.84% return, which is significantly higher than AOS's -10.72% return. Over the past 10 years, PSLV has outperformed AOS with an annualized return of 12.48%, while AOS has yielded a comparatively lower 5.40% annualized return.

PSLV

• 1D: 1.22%
• 1M: -12.36%
• YTD: -8.84%
• 6M: 5.69%
• 1Y: 76.87%
• 3Y*: 38.76%
• 5Y*: 16.68%
• 10Y*: 12.48%

AOS

• 1D: 0.72%
• 1M: 5.48%
• YTD: -10.72%
• 6M: -13.11%
• 1Y: -5.46%
• 3Y*: -3.46%
• 5Y*: -1.16%
• 10Y*: 5.40%

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

PSLV vs. AOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSLV Sprott Physical Silver Trust	-8.84%	145.08%	19.43%	-1.94%	2.74%	-14.13%	42.81%	16.99%	-11.83%	4.28%
AOS A. O. Smith Corporation	-10.72%	0.07%	-15.92%	47.30%	-32.07%	59.28%	17.46%	13.65%	-29.35%	30.78%

Correlation

The correlation between PSLV and AOS is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Oct 29, 2010	0.09

Fundamentals

Market Cap PSLV : $14.73B AOS : $8.22B
EPS PSLV : $13.57 AOS : $3.75
PE Ratio PSLV : 1.71 AOS : 15.76
PEG Ratio PSLV : 0.00 AOS : 0.64
PS Ratio PSLV : 218.98 AOS : 2.18
PB Ratio PSLV : 0.90 AOS : 3.81
Total Revenue (TTM) PSLV : $64.19M AOS : $3.81B
Gross Profit (TTM) PSLV : $404.67M AOS : $1.48B
EBITDA (TTM) PSLV : $8.21B AOS : $794.70M

Return for Risk

PSLV vs. AOS — Risk / Return Rank

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

PSLV

PSLV Risk / Return Rank: 39
PSLV Sharpe Ratio Rank: 41
PSLV Sortino Ratio Rank: 35
PSLV Omega Ratio Rank: 47
PSLV Calmar Ratio Rank: 39
PSLV Martin Ratio Rank: 31

AOS

AOS Risk / Return Rank: 32
AOS Sharpe Ratio Rank: 33
AOS Sortino Ratio Rank: 28
AOS Omega Ratio Rank: 28
AOS Calmar Ratio Rank: 36
AOS Martin Ratio Rank: 34

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 vs. AOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Silver Trust (PSLV) and A. O. Smith Corporation (AOS). 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	AOS	Difference
Sharpe ratio: Return per unit of total volatility	1.30	-0.24	+1.54
Sortino ratio: Return per unit of downside risk	1.66	-0.18	+1.85
Omega ratio: Gain probability vs. loss probability	1.27	0.98	+0.29
Calmar ratio: Return relative to maximum drawdown	1.72	-0.20	+1.92
Martin ratio: Return relative to average drawdown	3.95	-0.47	+4.42

PSLV vs. AOS - Sharpe Ratio Comparison

The current PSLV Sharpe Ratio is 1.30, which is higher than the AOS Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of PSLV and AOS, 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 vs. AOS - Drawdown Comparison

The maximum PSLV drawdown since its inception was -79.38%, which is greater than AOS's maximum drawdown of -66.07%. Use the drawdown chart below to compare losses from any high point for PSLV and AOS.

Drawdown Indicators

	PSLV	AOS	Difference
Max Drawdown Largest peak-to-trough decline	-79.38%	-66.07%	-13.31%
Max Drawdown (1Y) Largest decline over 1 year	-44.86%	-30.29%	-14.57%
Max Drawdown (3Y) Largest decline over 3 years	-44.86%	-36.93%	-7.93%
Max Drawdown (5Y) Largest decline over 5 years	-44.86%	-42.68%	-2.18%
Max Drawdown (10Y) Largest decline over 10 years	-44.86%	-46.81%	+1.95%
Current Drawdown Current decline from peak	-40.70%	-33.20%	-7.50%
Average Drawdown Average peak-to-trough decline	-58.11%	-20.48%	-37.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.49%	13.12%	+6.37%

Volatility

PSLV vs. AOS - Volatility Comparison

Sprott Physical Silver Trust (PSLV) has a higher volatility of 16.98% compared to A. O. Smith Corporation (AOS) at 8.06%. This indicates that PSLV's price experiences larger fluctuations and is considered to be riskier than AOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSLV	AOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.98%	8.06%	+8.92%
Volatility (6M) Calculated over the trailing 6-month period	58.26%	19.33%	+38.93%
Volatility (1Y) Calculated over the trailing 1-year period	59.54%	25.19%	+34.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.99%	27.14%	+8.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.33%	27.09%	+4.24%

Dividends

PSLV vs. AOS - Dividend Comparison

PSLV has not paid dividends to shareholders, while AOS's dividend yield for the trailing twelve months is around 2.40%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOS A. O. Smith Corporation	2.40%	2.06%	1.91%	1.84%	1.99%	1.23%	1.79%	1.89%	1.78%	0.91%	1.01%	0.99%
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%

Frequently Asked Questions

Can I hold both PSLV and AOS in my portfolio?

PSLV and AOS have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSLV or AOS?

PSLV has higher volatility (16.98%) compared to AOS (8.06%). In terms of maximum drawdown, PSLV dropped -79.38% vs AOS's -66.07%.

Which has better risk-adjusted returns?

PSLV currently has the higher Sharpe Ratio (1.30 vs -0.24), 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.