PSLV vs. SLVP
PSLV (Sprott Physical Silver Trust) and SLVP (iShares MSCI Global Silver and Metals Miners ETF) are both Silver funds - PSLV tracks the No Index (Physical Silver) while SLVP tracks the MSCI ACWI Select Silver Miners Investable Market Index. Both are passively managed. Over the past 10 years, PSLV returned 13.97%/yr vs 13.67%/yr for SLVP. A 0.73 correlation means they provide meaningful diversification when combined. PSLV charges 0.51%/yr vs 0.39%/yr for SLVP.
Performance
PSLV vs. SLVP - 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 SLVP's 2.25% return. Both investments have delivered pretty close results over the past 10 years, with PSLV having a 13.97% annualized return and SLVP not far behind at 13.67%.
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%
SLVP
- 1D
- -5.14%
- 1M
- 1.42%
- YTD
- 2.25%
- 6M
- 13.09%
- 1Y
- 112.07%
- 3Y*
- 52.07%
- 5Y*
- 15.97%
- 10Y*
- 13.67%
PSLV vs. SLVP - 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% |
SLVP iShares MSCI Global Silver and Metals Miners ETF | 2.25% | 202.84% | 14.47% | -2.31% | -18.06% | -23.53% | 56.45% | 37.71% | -22.10% | 4.53% |
Correlation
The correlation between PSLV and SLVP is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.73 |
The correlation between PSLV and SLVP has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.
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Return for Risk
PSLV vs. SLVP — Risk / Return Rank
PSLV
SLVP
PSLV vs. SLVP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Silver Trust (PSLV) and iShares MSCI Global Silver and Metals Miners ETF (SLVP). 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 | SLVP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.33 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 3.36 | -0.88 |
| Martin ratioReturn relative to average drawdown | 5.50 | 8.53 | -3.03 |
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 | SLVP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 2.12 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.38 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.32 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.09 | +0.08 |
Drawdowns
PSLV vs. SLVP - Drawdown Comparison
The maximum PSLV drawdown since its inception was -79.38%, roughly equal to the maximum SLVP drawdown of -80.47%. Use the drawdown chart below to compare losses from any high point for PSLV and SLVP.
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Drawdown Indicators
| PSLV | SLVP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.38% | -80.47% | +1.09% |
Max Drawdown (1Y)Largest decline over 1 year | -40.65% | -33.57% | -7.08% |
Max Drawdown (3Y)Largest decline over 3 years | -40.65% | -33.57% | -7.08% |
Max Drawdown (5Y)Largest decline over 5 years | -40.65% | -54.78% | +14.13% |
Max Drawdown (10Y)Largest decline over 10 years | -42.79% | -62.03% | +19.24% |
Current DrawdownCurrent decline from peak | -36.11% | -26.25% | -9.86% |
Average DrawdownAverage peak-to-trough decline | -58.15% | -46.82% | -11.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.25% | 13.18% | +5.07% |
Volatility
PSLV vs. SLVP - Volatility Comparison
The current volatility for Sprott Physical Silver Trust (PSLV) is 16.57%, while iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a volatility of 17.59%. This indicates that PSLV experiences smaller price fluctuations and is considered to be less risky than SLVP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSLV | SLVP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.57% | 17.59% | -1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 57.35% | 43.22% | +14.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.49% | 53.06% | +5.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.64% | 42.76% | -7.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.14% | 42.24% | -11.10% |
PSLV vs. SLVP - Expense Ratio Comparison
PSLV has a 0.51% expense ratio, which is higher than SLVP's 0.39% expense ratio.
Dividends
PSLV vs. SLVP - Dividend Comparison
PSLV has not paid dividends to shareholders, while SLVP's dividend yield for the trailing twelve months is around 1.74%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SLVP iShares MSCI Global Silver and Metals Miners ETF | 1.74% | 1.78% | 1.05% | 0.88% | 0.63% | 1.63% | 2.39% | 2.03% | 1.28% | 0.85% | 2.32% | 0.72% |
Frequently Asked Questions
PSLV and SLVP have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLVP has higher volatility (17.59%) compared to PSLV (16.57%). In terms of maximum drawdown, PSLV dropped -79.38% vs SLVP's -80.47%.
On 10-year performance, PSLV leads with 13.97% vs 13.67% for SLVP. On fees, SLVP is cheaper at 0.39% per year. On volatility, PSLV has been the lower-risk option at 16.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSLV has performed better with a 13.97% return vs 13.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVP is cheaper with a 0.39% expense ratio, compared with 0.51% for PSLV.
SLVP has the higher dividend yield at 1.74%, compared with 0.00% for PSLV.
PSLV tracks No Index (Physical Silver), while SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index. They also come from different issuers: Sprott and iShares. Their fees differ too: 0.51% for PSLV and 0.39% for SLVP.
SLVP currently has the higher Sharpe Ratio (2.12 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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