SBT.TO vs. AGCC.TO

Last updated Jun 4, 2026

SBT.TO (Purpose Silver Bullion Fund) and AGCC.TO (Global X Silver Covered Call ETF) are both Silver funds. SBT.TO is passively managed, while AGCC.TO is actively managed. Their correlation of 0.93 suggests significant overlap in exposure. SBT.TO charges 0.36%/yr vs 0.60%/yr for AGCC.TO.

Performance

SBT.TO vs. AGCC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Silver Bullion Fund (SBT.TO) and Global X Silver Covered Call ETF (AGCC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBT.TO achieves a 2.24% return, which is significantly higher than AGCC.TO's 1.95% return.

SBT.TO

• 1D: -2.53%
• 1M: 0.38%
• YTD: 2.24%
• 6M: 24.07%
• 1Y: 105.34%
• 3Y*: 42.09%
• 5Y*: 18.84%
• 10Y*: 13.84%

AGCC.TO

• 1D: -2.45%
• 1M: 1.43%
• YTD: 1.95%
• 6M: 19.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SBT.TO vs. AGCC.TO - Yearly Performance Comparison

	2026 (YTD)	2025
SBT.TO Purpose Silver Bullion Fund	2.24%	43.40%
AGCC.TO Global X Silver Covered Call ETF	1.95%	37.24%

Correlation

The correlation between SBT.TO and AGCC.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.93

Return for Risk

SBT.TO vs. AGCC.TO — Risk / Return Rank

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

SBT.TO

SBT.TO Risk / Return Rank: 46
SBT.TO Sharpe Ratio Rank: 52
SBT.TO Sortino Ratio Rank: 39
SBT.TO Omega Ratio Rank: 55
SBT.TO Calmar Ratio Rank: 50
SBT.TO Martin Ratio Rank: 34

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.

SBT.TO vs. AGCC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) and Global X Silver Covered Call ETF (AGCC.TO). 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.

	SBT.TO	AGCC.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.80	—	—
Sortino ratio: Return per unit of downside risk	2.02	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	2.48	—	—
Martin ratio: Return relative to average drawdown	5.33	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SBT.TO	AGCC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	1.06	-0.85

Drawdowns

SBT.TO vs. AGCC.TO - Drawdown Comparison

The maximum SBT.TO drawdown since its inception was -47.82%, which is greater than AGCC.TO's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for SBT.TO and AGCC.TO.

Drawdown Indicators

	SBT.TO	AGCC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-47.82%	-39.17%	-8.65%
Max Drawdown (1Y) Largest decline over 1 year	-42.69%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-42.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.82%	—	—
Current Drawdown Current decline from peak	-37.47%	-32.43%	-5.04%
Average Drawdown Average peak-to-trough decline	-16.92%	-16.63%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.84%	—	—

Volatility

Volatility by Period

	SBT.TO	AGCC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	57.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	59.01%	64.60%	-5.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.64%	64.60%	-27.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.58%	64.60%	+1.98%

SBT.TO vs. AGCC.TO - Expense Ratio Comparison

SBT.TO has a 0.36% expense ratio, which is lower than AGCC.TO's 0.60% expense ratio.

Dividends

SBT.TO vs. AGCC.TO - Dividend Comparison

SBT.TO has not paid dividends to shareholders, while AGCC.TO's dividend yield for the trailing twelve months is around 5.55%.

Position	TTM	2025
AGCC.TO Global X Silver Covered Call ETF	5.55%	1.49%
SBT.TO Purpose Silver Bullion Fund	0.00%	0.00%

Frequently Asked Questions

Can I hold both SBT.TO and AGCC.TO in my portfolio?

With a correlation of 0.93, SBT.TO and AGCC.TO 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 ETF is better, SBT.TO or AGCC.TO?

On fees, SBT.TO is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SBT.TO or AGCC.TO?

SBT.TO is cheaper with a 0.36% expense ratio, compared with 0.60% for AGCC.TO.

What is the main difference between SBT.TO and AGCC.TO?

They also come from different issuers: Purpose Investments and Global X. Their fees differ too: 0.36% for SBT.TO and 0.60% for AGCC.TO.