SBT.TO vs. PSLV.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Purpose Silver Bullion Fund (SBT.TO) and Sprott Physical Silver Trust (PSLV.TO).

SBT.TO is a passively managed fund by Purpose Investments that tracks the performance of the N/A (Physical Bullion). It was launched on May 25, 2016.

Performance

SBT.TO vs. PSLV.TO - Performance Comparison

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SBT.TO Purpose Silver Bullion Fund	5.57%	137.07%	18.55%	-0.86%	1.99%	-13.18%	48.01%	13.31%	-12.82%
PSLV.TO Sprott Physical Silver Trust	4.64%	134.39%	29.63%	-4.04%	9.85%	-14.35%	39.25%	11.53%	1.73%

Returns By Period

In the year-to-date period, SBT.TO achieves a 5.57% return, which is significantly higher than PSLV.TO's 4.64% return.

SBT.TO

• 1D: 7.22%
• 1M: -18.70%
• YTD: 5.57%
• 6M: 59.78%
• 1Y: 112.02%
• 3Y*: 43.13%
• 5Y*: 23.29%
• 10Y*: —

PSLV.TO

• 1D: 7.59%
• 1M: -19.23%
• YTD: 4.64%
• 6M: 55.77%
• 1Y: 103.35%
• 3Y*: 44.61%
• 5Y*: 24.75%
• 10Y*: —

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

Return for Risk

SBT.TO vs. PSLV.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: 86
SBT.TO Sharpe Ratio Rank: 90
SBT.TO Sortino Ratio Rank: 83
SBT.TO Omega Ratio Rank: 90
SBT.TO Calmar Ratio Rank: 87
SBT.TO Martin Ratio Rank: 79

PSLV.TO

PSLV.TO Risk / Return Rank: 86
PSLV.TO Sharpe Ratio Rank: 90
PSLV.TO Sortino Ratio Rank: 80
PSLV.TO Omega Ratio Rank: 88
PSLV.TO Calmar Ratio Rank: 84
PSLV.TO Martin Ratio Rank: 87

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. PSLV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) and Sprott Physical Silver Trust (PSLV.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	PSLV.TO	Difference
Sharpe ratio Return per unit of total volatility	1.98	1.90	+0.08
Sortino ratio Return per unit of downside risk	2.13	2.07	+0.06
Omega ratio Gain probability vs. loss probability	1.38	1.36	+0.02
Calmar ratio Return relative to maximum drawdown	2.64	2.67	-0.02
Martin ratio Return relative to average drawdown	8.25	8.30	-0.05
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. PSLV.TO - Sharpe Ratio Comparison

The current SBT.TO Sharpe Ratio is 1.98, which is comparable to the PSLV.TO Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of SBT.TO and PSLV.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SBT.TO	PSLV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	1.90	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.77	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.55	-0.34

Correlation

The correlation between SBT.TO and PSLV.TO is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SBT.TO vs. PSLV.TO - Dividend Comparison

Neither SBT.TO nor PSLV.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

SBT.TO vs. PSLV.TO - Drawdown Comparison

The maximum SBT.TO drawdown since its inception was -47.82%, which is greater than PSLV.TO's maximum drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for SBT.TO and PSLV.TO.

Drawdown Indicators

	SBT.TO	PSLV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-47.82%	-41.53%	-6.29%
Max Drawdown (1Y) Largest decline over 1 year	-42.69%	-39.47%	-3.22%
Max Drawdown (5Y) Largest decline over 5 years	-42.69%	-39.47%	-3.22%
Current Drawdown Current decline from peak	-35.43%	-31.06%	-4.37%
Average Drawdown Average peak-to-trough decline	-16.60%	-15.35%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.68%	12.69%	+0.99%

Volatility

SBT.TO vs. PSLV.TO - Volatility Comparison

Purpose Silver Bullion Fund (SBT.TO) and Sprott Physical Silver Trust (PSLV.TO) have volatilities of 19.32% and 20.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBT.TO	PSLV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.32%	20.13%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	57.11%	54.40%	+2.71%
Volatility (1Y) Calculated over the trailing 1-year period	57.02%	54.75%	+2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.62%	32.57%	+3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.79%	37.03%	+29.76%