RING vs. SLVP

Last updated Aug 2, 2026

RING (iShares MSCI Global Gold Miners ETF) and SLVP (iShares MSCI Global Silver and Metals Miners ETF) are both exchange-traded funds - RING is a Gold fund tracking the MSCI ACWI Select Gold Miners Investable Market Index, while SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index. Both are passively managed. Over the past 10 years, RING returned 10.69%/yr vs 7.89%/yr for SLVP. Their correlation of 0.86 means they have usually moved in the same direction. Both charge a 0.39% expense ratio.

Performance

RING vs. SLVP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Gold Miners ETF (RING) and iShares MSCI Global Silver and Metals Miners ETF (SLVP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RING having a -12.74% return and SLVP slightly lower at -12.97%. Over the past 10 years, RING has outperformed SLVP with an annualized return of 10.69%, while SLVP has yielded a comparatively lower 7.89% annualized return.

RING

• 1D: -3.07%
• 1M: -5.09%
• 6M: -20.44%
• YTD: -12.74%
• 1Y: 45.25%
• 3Y*: 41.73%
• 5Y*: 19.27%
• 10Y*: 10.69%
• ALL TIME*: 2.79%

SLVP

• 1D: -3.63%
• 1M: -7.59%
• 6M: -22.73%
• YTD: -12.97%
• 1Y: 72.99%
• 3Y*: 45.49%
• 5Y*: 16.22%
• 10Y*: 7.89%
• ALL TIME*: 2.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RING iShares MSCI Global Gold Miners ETF	$77.74M	$52.06M	$43.86M
SLVP iShares MSCI Global Silver and Metals Miners ETF	$7.13M	$7.08M	$11.62M

RING vs. SLVP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RING iShares MSCI Global Gold Miners ETF	-12.74%	164.72%	15.98%	12.29%	-15.40%	-7.46%	24.98%	49.92%	-13.14%	10.24%
SLVP iShares MSCI Global Silver and Metals Miners ETF	-12.97%	202.84%	14.47%	-2.31%	-18.06%	-23.53%	56.45%	37.71%	-22.10%	4.53%

Correlation

The correlation between RING and SLVP is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012	0.86

The correlation between RING and SLVP has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

RING vs. SLVP - Sectors Allocation Comparison

Sectors	RING	SLVP
Basic Materials	100.0%	100.0%
Financial Services	0.0%	0.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

RING vs. SLVP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RING

RING Risk / Return Rank: 37
RING Sharpe Ratio Rank: 40
RING Sortino Ratio Rank: 38
RING Omega Ratio Rank: 41
RING Calmar Ratio Rank: 36
RING Martin Ratio Rank: 31

SLVP

SLVP Risk / Return Rank: 50
SLVP Sharpe Ratio Rank: 55
SLVP Sortino Ratio Rank: 50
SLVP Omega Ratio Rank: 52
SLVP Calmar Ratio Rank: 53
SLVP Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RING vs. SLVP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Gold Miners ETF (RING) 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.

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.

	RING	SLVP	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.30	-0.32
Sortino ratio: Return per unit of downside risk	1.44	1.77	-0.33
Omega ratio: Gain probability vs. loss probability	1.19	1.23	-0.04
Calmar ratio: Return relative to maximum drawdown	1.24	1.89	-0.65
Martin ratio: Return relative to average drawdown	2.72	3.87	-1.14

RING vs. SLVP - Sharpe Ratio Comparison

The current RING Sharpe Ratio is 0.99, which is comparable to the SLVP Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of RING and SLVP, 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

RING vs. SLVP - Drawdown Comparison

The maximum RING drawdown since its inception was -79.47%, roughly equal to the maximum SLVP drawdown of -80.47%. Use the drawdown chart below to compare losses from any high point for RING and SLVP.

Drawdown Indicators

	RING	SLVP	Difference
Max Drawdown Largest peak-to-trough decline	-79.47%	-80.47%	+1.00%
Max Drawdown (1Y) Largest decline over 1 year	-38.61%	-38.97%	+0.36%
Max Drawdown (3Y) Largest decline over 3 years	-38.61%	-38.97%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-47.94%	-47.73%	-0.21%
Max Drawdown (10Y) Largest decline over 10 years	-52.04%	-62.03%	+9.99%
Current Drawdown Current decline from peak	-35.37%	-37.22%	+1.85%
Average Drawdown Average peak-to-trough decline	-47.24%	-46.67%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.57%	18.98%	-1.41%

Volatility

RING vs. SLVP - Volatility Comparison

The current volatility for iShares MSCI Global Gold Miners ETF (RING) is 12.19%, while iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a volatility of 14.39%. This indicates that RING 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.

Volatility by Period

	RING	SLVP	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.19%	14.39%	-2.20%
Volatility (6M) Calculated over the trailing 6-month period	39.42%	45.21%	-5.79%
Volatility (1Y) Calculated over the trailing 1-year period	48.68%	56.38%	-7.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.26%	43.62%	-6.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.65%	42.50%	-5.85%

RING vs. SLVP - Expense Ratio Comparison

Both RING and SLVP have an expense ratio of 0.39%.

Dividends

RING vs. SLVP - Dividend Comparison

RING's dividend yield for the trailing twelve months is around 1.42%, less than SLVP's 2.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RING iShares MSCI Global Gold Miners ETF	1.42%	0.84%	1.43%	2.01%	2.29%	2.38%	0.83%	0.83%	0.70%	0.42%	1.41%	0.96%
SLVP iShares MSCI Global Silver and Metals Miners ETF	2.37%	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

Can I hold both RING and SLVP in my portfolio?

With a correlation of 0.94, RING and SLVP 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.

Which is riskier, RING or SLVP?

SLVP has higher volatility (14.39%) compared to RING (12.19%). In terms of maximum drawdown, RING dropped -79.47% vs SLVP's -80.47%.

Which ETF is better, RING or SLVP?

On 10-year performance, RING leads with 10.69% vs 7.89% for SLVP. Both ETFs have the same 0.39% expense ratio. On volatility, RING has been the lower-risk option at 12.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RING or SLVP?

Over the 10-year period, RING has performed better with a 10.69% return vs 7.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RING or SLVP?

RING and SLVP have the same expense ratio: 0.39% per year.

Which ETF pays a higher dividend yield, RING or SLVP?

SLVP has the higher dividend yield at 2.37%, compared with 1.42% for RING.

What is the main difference between RING and SLVP?

RING is categorized as Gold, while SLVP is Silver. RING tracks MSCI ACWI Select Gold Miners Investable Market Index, while SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index.

Which has better risk-adjusted returns?

SLVP currently has the higher Sharpe Ratio (1.30 vs 0.99), 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.