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SBT.TO vs. FMV.DE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SBT.TO vs. FMV.DE

Last updated Jul 1, 2026
See Documentation

SBT.TO (Purpose Silver Bullion Fund) is Silver fund tracking the LBMA Silver Price, while FMV.DE (First Majestic Silver Corp) is a stock. Over the past 10 years, SBT.TO returned 11.27%/yr vs 2.79%/yr for FMV.DE. At a 0.28 correlation, their price movements are largely independent.

Performance

SBT.TO vs. FMV.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Silver Bullion Fund (SBT.TO) and First Majestic Silver Corp (FMV.DE). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SBT.TO is traded in CAD, while FMV.DE is traded in EUR. To make them comparable, the FMV.DE values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SBT.TO achieves a -18.66% return, which is significantly lower than FMV.DE's 2.66% return. Over the past 10 years, SBT.TO has outperformed FMV.DE with an annualized return of 11.27%, while FMV.DE has yielded a comparatively lower 2.79% annualized return.

SBT.TO

1D
2.14%
1M
-22.62%
YTD
-18.66%
6M
-23.97%
1Y
57.19%
3Y*
34.43%
5Y*
15.33%
10Y*
11.27%

FMV.DE

1D
2.83%
1M
-15.75%
YTD
2.66%
6M
2.66%
1Y
118.65%
3Y*
49.70%
5Y*
5.02%
10Y*
2.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SBT.TO vs. FMV.DE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SBT.TO
Purpose Silver Bullion Fund		-18.66%137.07%18.55%-0.86%1.99%-13.18%48.01%13.31%-12.82%-17.07%
FMV.DE
First Majestic Silver Corp		2.66%199.82%-3.11%-28.73%-17.44%-14.43%2.90%99.52%-9.78%-22.09%

Correlation

The correlation between SBT.TO and FMV.DE is 0.61, 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

0.61

Correlation (3Y)
Calculated over the trailing 3-year period

0.42

Correlation (5Y)
Calculated over the trailing 5-year period

0.41

Correlation (10Y)
Calculated over the trailing 10-year period

0.28

Correlation (All Time)
Calculated using the full available price history since May 27, 2016

0.28

Over the past year, SBT.TO and FMV.DE have become more correlated (0.61) than their long-term average of 0.28, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Purpose Silver Bullion Fund

First Majestic Silver Corp

Often compared with SBT.TO:
SBT.TO vs. SVR.TOSBT.TO vs. SLVSBT.TO vs. MNS.TOSBT.TO vs. PSLV.TOSBT.TO vs. SVR-C.TOSBT.TO vs. KILO.TOSBT.TO vs. GLD
Often compared with FMV.DE:
FMV.DE vs. SAFMV.DE vs. SILJFMV.DE vs. SLVPFMV.DE vs. STTKFMV.DE vs. KFFMV.DE vs. AII.TOFMV.DE vs. AGMI

Return for Risk

SBT.TO vs. FMV.DE — 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: 2828
Overall Rank
SBT.TO Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
SBT.TO Sortino Ratio Rank: 2727
Sortino Ratio Rank
SBT.TO Omega Ratio Rank: 3636
Omega Ratio Rank
SBT.TO Calmar Ratio Rank: 2525
Calmar Ratio Rank
SBT.TO Martin Ratio Rank: 2222
Martin Ratio Rank
FMV.DE
FMV.DE Risk / Return Rank: 8181
Overall Rank
FMV.DE Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
FMV.DE Sortino Ratio Rank: 8181
Sortino Ratio Rank
FMV.DE Omega Ratio Rank: 7777
Omega Ratio Rank
FMV.DE Calmar Ratio Rank: 8181
Calmar Ratio Rank
FMV.DE Martin Ratio Rank: 7979
Martin Ratio Rank
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. FMV.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) and First Majestic Silver Corp (FMV.DE). 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.

SBT.TOFMV.DEDifference
Sharpe ratioReturn per unit of total volatility
0.94
1.61

-0.67

Sortino ratioReturn per unit of downside risk
1.38
2.20

-0.82

Omega ratioGain probability vs. loss probability

1.22

1.26

-0.04

Calmar ratioReturn relative to maximum drawdown

1.10

2.45

-1.35

Martin ratioReturn relative to average drawdown

2.45

5.32

-2.88

SBT.TO vs. FMV.DE - Sharpe Ratio Comparison

The current SBT.TO Sharpe Ratio is 0.94, which is lower than the FMV.DE Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of SBT.TO and FMV.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SBT.TO vs. FMV.DE - Drawdown Comparison

The maximum SBT.TO drawdown since its inception was -52.39%, smaller than the maximum FMV.DE drawdown of -85.76%. Use the drawdown chart below to compare losses from any high point for SBT.TO and FMV.DE.

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Drawdown Indicators

SBT.TOFMV.DEDifference

Max Drawdown

Largest peak-to-trough decline

-52.39%

-85.76%

+33.37%

Max Drawdown (1Y)

Largest decline over 1 year

-52.39%

-48.23%

-4.16%

Max Drawdown (3Y)

Largest decline over 3 years

-52.39%

-48.23%

-4.16%

Max Drawdown (5Y)

Largest decline over 5 years

-52.39%

-70.16%

+17.77%

Max Drawdown (10Y)

Largest decline over 10 years

-52.39%

-78.44%

+26.05%

Current Drawdown

Current decline from peak

-50.25%

-43.78%

-6.47%

Average Drawdown

Average peak-to-trough decline

-17.17%

-48.52%

+31.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

23.42%

22.20%

+1.22%

Volatility

SBT.TO vs. FMV.DE - Volatility Comparison

The current volatility for Purpose Silver Bullion Fund (SBT.TO) is 16.91%, while First Majestic Silver Corp (FMV.DE) has a volatility of 23.87%. This indicates that SBT.TO experiences smaller price fluctuations and is considered to be less risky than FMV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SBT.TOFMV.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.91%

23.87%

-6.96%

Volatility (6M)

Calculated over the trailing 6-month period

59.53%

57.50%

+2.03%

Volatility (1Y)

Calculated over the trailing 1-year period

61.18%

73.47%

-12.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

37.75%

61.18%

-23.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

67.39%

60.51%

+6.88%

Dividends

SBT.TO vs. FMV.DE - Dividend Comparison

SBT.TO has not paid dividends to shareholders, while FMV.DE's dividend yield for the trailing twelve months is around 0.21%.

PositionTTM20252024202320222021
FMV.DE
First Majestic Silver Corp		0.21%0.12%0.33%0.37%0.33%0.16%
SBT.TO
Purpose Silver Bullion Fund		0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SBT.TO and FMV.DE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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