PSLV vs. AUD=X

Last updated Jun 6, 2026

PSLV (Sprott Physical Silver Trust) is Silver fund tracking the No Index (Physical Silver), while AUD=X (USD/AUD) is a currency. Over the past 10 years, PSLV returned 13.13%/yr vs -0.02%/yr for AUD=X. At a 0.00 correlation, their price movements are largely independent.

Performance

PSLV vs. AUD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Silver Trust (PSLV) and USD/AUD (AUD=X). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PSLV is traded in USD, while AUD=X is traded in AUD. To make them comparable, the AUD=X values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PSLV achieves a -8.96% return, which is significantly lower than AUD=X's -0.13% return. Over the past 10 years, PSLV has outperformed AUD=X with an annualized return of 13.13%, while AUD=X has yielded a comparatively lower -0.02% annualized return.

PSLV

• 1D: -8.15%
• 1M: -14.05%
• YTD: -8.96%
• 6M: 10.52%
• 1Y: 80.47%
• 3Y*: 38.41%
• 5Y*: 16.65%
• 10Y*: 13.13%

AUD=X

• 1D: -0.12%
• 1M: -0.10%
• YTD: -0.13%
• 6M: -0.11%
• 1Y: -0.14%
• 3Y*: -0.05%
• 5Y*: -0.01%
• 10Y*: -0.02%

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

PSLV vs. AUD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSLV Sprott Physical Silver Trust	-8.96%	145.08%	19.43%	-1.94%	2.74%	-14.13%	42.81%	16.99%	-11.83%	4.28%
AUD=X USD/AUD	-0.13%	-0.01%	0.03%	0.01%	-0.08%	-0.04%	0.11%	0.09%	-0.05%	0.10%

Correlation

The correlation between PSLV and AUD=X is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	-0.00
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Nov 1, 2010	0.00

Return for Risk

PSLV vs. AUD=X — Risk / Return Rank

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

PSLV

PSLV Risk / Return Rank: 38
PSLV Sharpe Ratio Rank: 40
PSLV Sortino Ratio Rank: 33
PSLV Omega Ratio Rank: 45
PSLV Calmar Ratio Rank: 41
PSLV Martin Ratio Rank: 31

AUD=X

AUD=X Risk / Return Rank: 19
AUD=X Sharpe Ratio Rank: 18
AUD=X Sortino Ratio Rank: 18
AUD=X Omega Ratio Rank: 19
AUD=X Calmar Ratio Rank: 21
AUD=X Martin Ratio Rank: 19

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. AUD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Silver Trust (PSLV) and USD/AUD (AUD=X). 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.

	PSLV	AUD=X	Difference
Sharpe ratio: Return per unit of total volatility	1.37	-0.08	+1.45
Sortino ratio: Return per unit of downside risk	1.71	-0.11	+1.82
Omega ratio: Gain probability vs. loss probability	1.28	0.98	+0.29
Calmar ratio: Return relative to maximum drawdown	1.98	-0.14	+2.13
Martin ratio: Return relative to average drawdown	4.35	-0.21	+4.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSLV vs. AUD=X - Sharpe Ratio Comparison

The current PSLV Sharpe Ratio is 1.37, which is higher than the AUD=X Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of PSLV and AUD=X, 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

	PSLV	AUD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	-0.08	+1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	-0.01	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	-0.01	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	-0.00	+0.16

Drawdowns

PSLV vs. AUD=X - Drawdown Comparison

The maximum PSLV drawdown since its inception was -79.38%, which is greater than AUD=X's maximum drawdown of -3.07%. Use the drawdown chart below to compare losses from any high point for PSLV and AUD=X.

Drawdown Indicators

	PSLV	AUD=X	Difference
Max Drawdown Largest peak-to-trough decline	-79.38%	-3.07%	-76.31%
Max Drawdown (1Y) Largest decline over 1 year	-40.79%	-0.81%	-39.98%
Max Drawdown (3Y) Largest decline over 3 years	-40.79%	-1.22%	-39.57%
Max Drawdown (5Y) Largest decline over 5 years	-40.79%	-1.22%	-39.57%
Max Drawdown (10Y) Largest decline over 10 years	-42.79%	-1.44%	-41.35%
Current Drawdown Current decline from peak	-40.79%	-1.82%	-38.97%
Average Drawdown Average peak-to-trough decline	-58.14%	-1.63%	-56.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.56%	0.11%	+18.45%

Volatility

PSLV vs. AUD=X - Volatility Comparison

Sprott Physical Silver Trust (PSLV) has a higher volatility of 17.38% compared to USD/AUD (AUD=X) at 0.26%. This indicates that PSLV's price experiences larger fluctuations and is considered to be riskier than AUD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSLV	AUD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.38%	0.26%	+17.12%
Volatility (6M) Calculated over the trailing 6-month period	57.99%	0.73%	+57.26%
Volatility (1Y) Calculated over the trailing 1-year period	59.10%	1.44%	+57.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.81%	1.05%	+34.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.25%	1.33%	+29.92%

Frequently Asked Questions

Can I hold both PSLV and AUD=X in my portfolio?

PSLV and AUD=X have a correlation of -0.08, 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 AUD=X?

PSLV has higher volatility (17.38%) compared to AUD=X (0.26%). In terms of maximum drawdown, PSLV dropped -79.38% vs AUD=X's -3.07%.

Which has better risk-adjusted returns?

PSLV currently has the higher Sharpe Ratio (1.37 vs -0.08), 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.