QLD vs. SLV
QLD (ProShares Ultra QQQ) and SLV (iShares Silver Trust) are both exchange-traded funds - QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%), while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, QLD returned 35.67%/yr vs 13.99%/yr for SLV. At a 0.18 correlation, their price movements are largely independent. QLD charges 0.95%/yr vs 0.50%/yr for SLV.
Performance
QLD vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, QLD achieves a 32.65% return, which is significantly higher than SLV's -4.86% return. Over the past 10 years, QLD has outperformed SLV with an annualized return of 35.67%, while SLV has yielded a comparatively lower 13.99% annualized return.
QLD
- 1D
- 1.30%
- 1M
- -0.55%
- YTD
- 32.65%
- 6M
- 32.82%
- 1Y
- 73.89%
- 3Y*
- 44.57%
- 5Y*
- 23.24%
- 10Y*
- 35.67%
SLV
- 1D
- 0.77%
- 1M
- -18.83%
- YTD
- -4.86%
- 6M
- 9.25%
- 1Y
- 85.90%
- 3Y*
- 41.27%
- 5Y*
- 18.83%
- 10Y*
- 13.99%
QLD vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 32.65% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
SLV iShares Silver Trust | -4.86% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between QLD and SLV is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006 | 0.18 |
The correlation between QLD and SLV shifts across timeframes, from 0.18 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QLD vs. SLV — Risk / Return Rank
QLD
SLV
QLD vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) and iShares Silver Trust (SLV). 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.
| QLD | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.29 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 1.89 | +0.89 |
| Martin ratioReturn relative to average drawdown | 9.46 | 4.10 | +5.36 |
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Drawdowns
QLD vs. SLV - Drawdown Comparison
The maximum QLD drawdown since its inception was -83.13%, which is greater than SLV's maximum drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for QLD and SLV.
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Drawdown Indicators
| QLD | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.13% | -76.28% | -6.85% |
Max Drawdown (1Y)Largest decline over 1 year | -25.13% | -45.40% | +20.27% |
Max Drawdown (3Y)Largest decline over 3 years | -42.29% | -45.40% | +3.11% |
Max Drawdown (5Y)Largest decline over 5 years | -63.68% | -45.40% | -18.28% |
Max Drawdown (10Y)Largest decline over 10 years | -63.68% | -45.40% | -18.28% |
Current DrawdownCurrent decline from peak | -7.11% | -41.96% | +34.85% |
Average DrawdownAverage peak-to-trough decline | -18.16% | -44.66% | +26.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.36% | 20.88% | -13.52% |
Volatility
QLD vs. SLV - Volatility Comparison
The current volatility for ProShares Ultra QQQ (QLD) is 15.14%, while iShares Silver Trust (SLV) has a volatility of 16.34%. This indicates that QLD experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLD | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.14% | 16.34% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 27.51% | 59.10% | -31.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.29% | 59.82% | -25.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.07% | 36.46% | +8.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.73% | 32.00% | +12.73% |
QLD vs. SLV - Expense Ratio Comparison
QLD has a 0.95% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
QLD vs. SLV - Dividend Comparison
QLD's dividend yield for the trailing twelve months is around 0.13%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
SLV iShares 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
QLD and SLV have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (16.34%) compared to QLD (15.14%). In terms of maximum drawdown, QLD dropped -83.13% vs SLV's -76.28%.
On 10-year performance, QLD leads with 35.67% vs 13.99% for SLV. On fees, SLV is cheaper at 0.50% per year. On volatility, QLD has been the lower-risk option at 15.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLD has performed better with a 35.67% return vs 13.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.95% for QLD.
QLD has the higher dividend yield at 0.13%, compared with 0.00% for SLV.
QLD is categorized as Leveraged Equities, while SLV is Silver. QLD tracks NASDAQ-100 Index (200%), while SLV tracks LBMA Silver Price. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for QLD and 0.50% for SLV.
QLD currently has the higher Sharpe Ratio (2.04 vs 1.44), 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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