SBT.TO vs. KILO-B.TO

Last updated Jun 4, 2026

SBT.TO (Purpose Silver Bullion Fund) and KILO-B.TO (Purpose Gold Bullion Fund ETF Non-Currency Hedged) are both exchange-traded funds - SBT.TO is a Silver fund tracking the LBMA Silver Price, while KILO-B.TO is a Gold fund actively managed by Purpose Investments. SBT.TO is passively managed, while KILO-B.TO is actively managed. Over the past 5 years, SBT.TO returned 18.84%/yr vs 21.87%/yr for KILO-B.TO. At a 0.31 correlation, their price movements are largely independent. SBT.TO charges 0.36%/yr vs 0.28%/yr for KILO-B.TO.

Performance

SBT.TO vs. KILO-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Silver Bullion Fund (SBT.TO) and Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.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 lower than KILO-B.TO's 4.14% 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%

KILO-B.TO

• 1D: -0.46%
• 1M: 0.62%
• YTD: 4.14%
• 6M: 5.05%
• 1Y: 34.09%
• 3Y*: 32.71%
• 5Y*: 21.87%
• 10Y*: —

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

SBT.TO vs. KILO-B.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SBT.TO Purpose Silver Bullion Fund	2.24%	137.07%	18.55%	-0.86%	1.99%	-13.18%	48.01%	13.31%	0.00%
KILO-B.TO Purpose Gold Bullion Fund ETF Non-Currency Hedged	4.14%	56.51%	37.76%	10.43%	6.38%	-4.67%	21.17%	12.88%	8.56%

Correlation

The correlation between SBT.TO and KILO-B.TO is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Nov 1, 2018	0.31

Over the past year, SBT.TO and KILO-B.TO have become more correlated (0.68) than their long-term average of 0.31, meaning their price movements have been converging.

Return for Risk

SBT.TO vs. KILO-B.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

KILO-B.TO

KILO-B.TO Risk / Return Rank: 38
KILO-B.TO Sharpe Ratio Rank: 39
KILO-B.TO Sortino Ratio Rank: 34
KILO-B.TO Omega Ratio Rank: 43
KILO-B.TO Calmar Ratio Rank: 40
KILO-B.TO Martin Ratio Rank: 33

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. KILO-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) and Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.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	KILO-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.37	+0.43
Sortino ratio: Return per unit of downside risk	2.02	1.80	+0.23
Omega ratio: Gain probability vs. loss probability	1.34	1.28	+0.07
Calmar ratio: Return relative to maximum drawdown	2.48	1.97	+0.51
Martin ratio: Return relative to average drawdown	5.33	4.86	+0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBT.TO vs. KILO-B.TO - Sharpe Ratio Comparison

The current SBT.TO Sharpe Ratio is 1.80, which is higher than the KILO-B.TO Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of SBT.TO and KILO-B.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SBT.TO	KILO-B.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	1.37	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	1.31	-0.79
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	1.20	-0.99

Drawdowns

SBT.TO vs. KILO-B.TO - Drawdown Comparison

The maximum SBT.TO drawdown since its inception was -47.82%, which is greater than KILO-B.TO's maximum drawdown of -22.54%. Use the drawdown chart below to compare losses from any high point for SBT.TO and KILO-B.TO.

Drawdown Indicators

	SBT.TO	KILO-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-47.82%	-22.54%	-25.28%
Max Drawdown (1Y) Largest decline over 1 year	-42.69%	-17.41%	-25.28%
Max Drawdown (3Y) Largest decline over 3 years	-42.69%	-17.41%	-25.28%
Max Drawdown (5Y) Largest decline over 5 years	-42.69%	-17.41%	-25.28%
Max Drawdown (10Y) Largest decline over 10 years	-47.82%	—	—
Current Drawdown Current decline from peak	-37.47%	-15.47%	-22.00%
Average Drawdown Average peak-to-trough decline	-16.92%	-7.72%	-9.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.84%	7.04%	+12.80%

Volatility

SBT.TO vs. KILO-B.TO - Volatility Comparison

Purpose Silver Bullion Fund (SBT.TO) has a higher volatility of 17.19% compared to Purpose Gold Bullion Fund ETF Non-Currency Hedged (KILO-B.TO) at 5.43%. This indicates that SBT.TO's price experiences larger fluctuations and is considered to be riskier than KILO-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBT.TO	KILO-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.19%	5.43%	+11.76%
Volatility (6M) Calculated over the trailing 6-month period	57.92%	21.50%	+36.42%
Volatility (1Y) Calculated over the trailing 1-year period	59.01%	25.07%	+33.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.64%	16.84%	+19.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.58%	17.99%	+48.59%

SBT.TO vs. KILO-B.TO - Expense Ratio Comparison

SBT.TO has a 0.36% expense ratio, which is higher than KILO-B.TO's 0.28% expense ratio.

Dividends

SBT.TO vs. KILO-B.TO - Dividend Comparison

Neither SBT.TO nor KILO-B.TO has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
KILO-B.TO Purpose Gold Bullion Fund ETF Non-Currency Hedged	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.69%
SBT.TO Purpose Silver Bullion Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SBT.TO and KILO-B.TO in my portfolio?

SBT.TO and KILO-B.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SBT.TO or KILO-B.TO?

On fees, KILO-B.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SBT.TO or KILO-B.TO?

KILO-B.TO is cheaper with a 0.28% expense ratio, compared with 0.36% for SBT.TO.

What is the main difference between SBT.TO and KILO-B.TO?

SBT.TO is categorized as Silver, while KILO-B.TO is Gold. Their fees differ too: 0.36% for SBT.TO and 0.28% for KILO-B.TO.