SBT.TO vs. SIVR
SBT.TO (Purpose Silver Bullion Fund) and SIVR (abrdn Physical Silver Shares ETF) are both Silver funds - SBT.TO tracks the LBMA Silver Price while SIVR tracks the LBMA Silver Price ($/ozt). Both are passively managed. Over the past 10 years, SBT.TO returned 11.27%/yr vs 12.32%/yr for SIVR. At a 0.40 correlation, their price movements are largely independent. SBT.TO charges 0.36%/yr vs 0.30%/yr for SIVR.
Performance
SBT.TO vs. SIVR - Performance Comparison
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Different Trading Currencies
SBT.TO is traded in CAD, while SIVR is traded in USD. To make them comparable, the SIVR 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 SIVR's -13.76% return. Over the past 10 years, SBT.TO has underperformed SIVR with an annualized return of 11.27%, while SIVR has yielded a comparatively higher 12.32% 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%
SIVR
- 1D
- 1.73%
- 1M
- -19.27%
- YTD
- -13.76%
- 6M
- -19.39%
- 1Y
- 69.68%
- 3Y*
- 40.26%
- 5Y*
- 20.76%
- 10Y*
- 12.32%
SBT.TO vs. SIVR - 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% |
SIVR abrdn Physical Silver Shares ETF | -13.76% | 134.14% | 31.33% | -3.27% | 9.09% | -12.37% | 44.02% | 10.42% | -1.31% | -1.21% |
Correlation
The correlation between SBT.TO and SIVR is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since May 27, 2016 | 0.40 |
Over the past year, SBT.TO and SIVR have become more correlated (0.86) than their long-term average of 0.40, meaning their price movements have been converging.
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Return for Risk
SBT.TO vs. SIVR — Risk / Return Rank
SBT.TO
SIVR
SBT.TO vs. SIVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) and abrdn Physical Silver Shares ETF (SIVR). 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 | SIVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.25 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.44 | -0.34 |
| Martin ratioReturn relative to average drawdown | 2.45 | 3.12 | -0.67 |
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Drawdowns
SBT.TO vs. SIVR - Drawdown Comparison
The maximum SBT.TO drawdown since its inception was -52.39%, smaller than the maximum SIVR drawdown of -63.83%. Use the drawdown chart below to compare losses from any high point for SBT.TO and SIVR.
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Drawdown Indicators
| SBT.TO | SIVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.39% | -63.83% | +11.44% |
Max Drawdown (1Y)Largest decline over 1 year | -52.39% | -48.68% | -3.71% |
Max Drawdown (3Y)Largest decline over 3 years | -52.39% | -48.68% | -3.71% |
Max Drawdown (5Y)Largest decline over 5 years | -52.39% | -48.68% | -3.71% |
Max Drawdown (10Y)Largest decline over 10 years | -52.39% | -48.68% | -3.71% |
Current DrawdownCurrent decline from peak | -50.25% | -46.99% | -3.26% |
Average DrawdownAverage peak-to-trough decline | -17.17% | -36.63% | +19.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.42% | 22.43% | +0.99% |
Volatility
SBT.TO vs. SIVR - Volatility Comparison
Purpose Silver Bullion Fund (SBT.TO) has a higher volatility of 16.91% compared to abrdn Physical Silver Shares ETF (SIVR) at 15.62%. This indicates that SBT.TO's price experiences larger fluctuations and is considered to be riskier than SIVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBT.TO | SIVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.91% | 15.62% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 59.53% | 58.73% | +0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.18% | 60.35% | +0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.75% | 37.13% | +0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.39% | 32.73% | +34.66% |
SBT.TO vs. SIVR - Expense Ratio Comparison
SBT.TO has a 0.36% expense ratio, which is higher than SIVR's 0.30% expense ratio.
Dividends
SBT.TO vs. SIVR - Dividend Comparison
Neither SBT.TO nor SIVR has paid dividends to shareholders.
Frequently Asked Questions
SBT.TO and SIVR have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SIVR is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SIVR is cheaper with a 0.30% expense ratio, compared with 0.36% for SBT.TO.
SBT.TO tracks LBMA Silver Price, while SIVR tracks LBMA Silver Price ($/ozt). They also come from different issuers: Purpose Investments and abrdn. Their fees differ too: 0.36% for SBT.TO and 0.30% for SIVR.
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