SBT.TO vs. SILJ

Last updated Jul 1, 2026

SBT.TO (Purpose Silver Bullion Fund) and SILJ (Amplify Junior Silver Miners ETF) are both Silver funds - SBT.TO tracks the LBMA Silver Price while SILJ tracks the Nasdaq Junior Silver Miners Index. Both are passively managed. Over the past 10 years, SBT.TO returned 11.27%/yr vs 7.53%/yr for SILJ. At a 0.30 correlation, their price movements are largely independent. SBT.TO charges 0.36%/yr vs 0.69%/yr for SILJ.

Performance

SBT.TO vs. SILJ - Performance Comparison

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

Different Trading Currencies

SBT.TO is traded in CAD, while SILJ is traded in USD. To make them comparable, the SILJ 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 SILJ's -2.81% return. Over the past 10 years, SBT.TO has outperformed SILJ with an annualized return of 11.27%, while SILJ has yielded a comparatively lower 7.53% 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%

SILJ

• 1D: 0.64%
• 1M: -13.55%
• YTD: -2.81%
• 6M: -4.34%
• 1Y: 85.31%
• 3Y*: 47.90%
• 5Y*: 16.62%
• 10Y*: 7.53%

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

SBT.TO vs. SILJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SILJ Amplify Junior Silver Miners ETF	-2.81%	170.93%	15.40%	-7.46%	-10.06%	-23.25%	29.85%	50.59%	-21.89%	-12.04%

Correlation

The correlation between SBT.TO and SILJ 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	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 27, 2016	0.30

Over the past year, SBT.TO and SILJ have become more correlated (0.68) than their long-term average of 0.30, meaning their price movements have been converging.

Return for Risk

SBT.TO vs. SILJ — 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: 28
SBT.TO Sharpe Ratio Rank: 28
SBT.TO Sortino Ratio Rank: 27
SBT.TO Omega Ratio Rank: 36
SBT.TO Calmar Ratio Rank: 25
SBT.TO Martin Ratio Rank: 22

SILJ

SILJ Risk / Return Rank: 41
SILJ Sharpe Ratio Rank: 44
SILJ Sortino Ratio Rank: 39
SILJ Omega Ratio Rank: 42
SILJ Calmar Ratio Rank: 46
SILJ Martin Ratio Rank: 35

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. SILJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) and Amplify Junior Silver Miners ETF (SILJ). 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.TO	SILJ	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.50	-0.56
Sortino ratio: Return per unit of downside risk	1.38	1.93	-0.54
Omega ratio: Gain probability vs. loss probability	1.22	1.26	-0.04
Calmar ratio: Return relative to maximum drawdown	1.10	2.26	-1.16
Martin ratio: Return relative to average drawdown	2.45	5.25	-2.80

SBT.TO vs. SILJ - Sharpe Ratio Comparison

The current SBT.TO Sharpe Ratio is 0.94, which is lower than the SILJ Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of SBT.TO and SILJ, 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

SBT.TO vs. SILJ - Drawdown Comparison

The maximum SBT.TO drawdown since its inception was -52.39%, smaller than the maximum SILJ drawdown of -70.03%. Use the drawdown chart below to compare losses from any high point for SBT.TO and SILJ.

Drawdown Indicators

	SBT.TO	SILJ	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-70.03%	+17.64%
Max Drawdown (1Y) Largest decline over 1 year	-52.39%	-37.92%	-14.47%
Max Drawdown (3Y) Largest decline over 3 years	-52.39%	-37.92%	-14.47%
Max Drawdown (5Y) Largest decline over 5 years	-52.39%	-44.62%	-7.77%
Max Drawdown (10Y) Largest decline over 10 years	-52.39%	-68.03%	+15.64%
Current Drawdown Current decline from peak	-50.25%	-33.17%	-17.08%
Average Drawdown Average peak-to-trough decline	-17.17%	-36.84%	+19.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.42%	16.31%	+7.11%

Volatility

SBT.TO vs. SILJ - Volatility Comparison

The current volatility for Purpose Silver Bullion Fund (SBT.TO) is 16.91%, while Amplify Junior Silver Miners ETF (SILJ) has a volatility of 20.06%. This indicates that SBT.TO experiences smaller price fluctuations and is considered to be less risky than SILJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBT.TO	SILJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.91%	20.06%	-3.15%
Volatility (6M) Calculated over the trailing 6-month period	59.53%	48.20%	+11.33%
Volatility (1Y) Calculated over the trailing 1-year period	61.18%	57.39%	+3.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.75%	45.28%	-7.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.39%	46.78%	+20.61%

SBT.TO vs. SILJ - Expense Ratio Comparison

SBT.TO has a 0.36% expense ratio, which is lower than SILJ's 0.69% expense ratio.

Dividends

SBT.TO vs. SILJ - Dividend Comparison

SBT.TO has not paid dividends to shareholders, while SILJ's dividend yield for the trailing twelve months is around 2.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SBT.TO Purpose Silver Bullion Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SILJ Amplify Junior Silver Miners ETF	2.14%	2.00%	7.26%	0.01%	0.05%	0.36%	1.23%	1.45%	1.66%	0.00%	0.52%	2.46%

Frequently Asked Questions

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

SBT.TO and SILJ 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 SILJ?

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 SILJ?

SBT.TO is cheaper with a 0.36% expense ratio, compared with 0.69% for SILJ.

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

SBT.TO tracks LBMA Silver Price, while SILJ tracks Nasdaq Junior Silver Miners Index. They also come from different issuers: Purpose Investments and Amplify. Their fees differ too: 0.36% for SBT.TO and 0.69% for SILJ.