PSLV vs. SIVR
PSLV (Sprott Physical Silver Trust) and SIVR (abrdn Physical Silver Shares ETF) are both Silver funds - PSLV tracks the No Index (Physical Silver) while SIVR tracks the LBMA Silver Price ($/ozt). Both are passively managed. Over the past 10 years, PSLV returned 13.97%/yr vs 15.77%/yr for SIVR. Their correlation of 0.95 suggests significant overlap in exposure. PSLV charges 0.51%/yr vs 0.30%/yr for SIVR.
Performance
PSLV vs. SIVR - Performance Comparison
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Returns By Period
In the year-to-date period, PSLV achieves a -1.78% return, which is significantly lower than SIVR's 2.85% return. Over the past 10 years, PSLV has underperformed SIVR with an annualized return of 13.97%, while SIVR has yielded a comparatively higher 15.77% annualized return.
PSLV
- 1D
- -2.76%
- 1M
- -1.61%
- YTD
- -1.78%
- 6M
- 18.46%
- 1Y
- 100.09%
- 3Y*
- 41.73%
- 5Y*
- 18.43%
- 10Y*
- 13.97%
SIVR
- 1D
- -2.62%
- 1M
- 0.42%
- YTD
- 2.85%
- 6M
- 24.90%
- 1Y
- 110.95%
- 3Y*
- 45.38%
- 5Y*
- 21.00%
- 10Y*
- 15.77%
PSLV vs. SIVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSLV Sprott Physical Silver Trust | -1.78% | 145.08% | 19.43% | -1.94% | 2.74% | -14.13% | 42.81% | 16.99% | -11.83% | 4.28% |
SIVR abrdn Physical Silver Shares ETF | 2.85% | 145.34% | 21.08% | -0.91% | 2.59% | -12.33% | 47.52% | 15.17% | -8.96% | 5.97% |
Correlation
The correlation between PSLV and SIVR is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2010 | 0.95 |
The correlation between PSLV and SIVR has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
PSLV vs. SIVR — Risk / Return Rank
PSLV
SIVR
PSLV vs. SIVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Silver Trust (PSLV) and abrdn Physical Silver Shares ETF (SIVR). 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 | SIVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.35 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.63 | -0.15 |
| Martin ratioReturn relative to average drawdown | 5.50 | 5.67 | -0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PSLV | SIVR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 1.90 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.58 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.50 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.32 | -0.15 |
Drawdowns
PSLV vs. SIVR - Drawdown Comparison
The maximum PSLV drawdown since its inception was -79.38%, roughly equal to the maximum SIVR drawdown of -75.85%. Use the drawdown chart below to compare losses from any high point for PSLV and SIVR.
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Drawdown Indicators
| PSLV | SIVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.38% | -75.85% | -3.53% |
Max Drawdown (1Y)Largest decline over 1 year | -40.65% | -42.42% | +1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -40.65% | -42.42% | +1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -40.65% | -42.42% | +1.77% |
Max Drawdown (10Y)Largest decline over 10 years | -42.79% | -42.42% | -0.37% |
Current DrawdownCurrent decline from peak | -36.11% | -37.25% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -58.15% | -47.85% | -10.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.25% | 19.64% | -1.39% |
Volatility
PSLV vs. SIVR - Volatility Comparison
Sprott Physical Silver Trust (PSLV) and abrdn Physical Silver Shares ETF (SIVR) have volatilities of 16.57% and 16.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSLV | SIVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.57% | 16.28% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 57.35% | 58.30% | -0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.49% | 58.84% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.64% | 36.17% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.14% | 31.87% | -0.73% |
PSLV vs. SIVR - Expense Ratio Comparison
PSLV has a 0.51% expense ratio, which is higher than SIVR's 0.30% expense ratio.
Dividends
PSLV vs. SIVR - Dividend Comparison
Neither PSLV nor SIVR has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, PSLV and SIVR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PSLV has higher volatility (16.57%) compared to SIVR (16.28%). In terms of maximum drawdown, PSLV dropped -79.38% vs SIVR's -75.85%.
On 10-year performance, SIVR leads with 15.77% vs 13.97% for PSLV. On fees, SIVR is cheaper at 0.30% per year. On volatility, SIVR has been the lower-risk option at 16.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SIVR has performed better with a 15.77% return vs 13.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIVR is cheaper with a 0.30% expense ratio, compared with 0.51% for PSLV.
PSLV and SIVR have nearly identical dividend yields, around 0.00%.
PSLV tracks No Index (Physical Silver), while SIVR tracks LBMA Silver Price ($/ozt). They also come from different issuers: Sprott and abrdn. Their fees differ too: 0.51% for PSLV and 0.30% for SIVR.
SIVR currently has the higher Sharpe Ratio (1.90 vs 1.72), 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.
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