SBT.TO vs. SVM

Last updated Jul 1, 2026

SBT.TO (Purpose Silver Bullion Fund) is Silver fund tracking the LBMA Silver Price, while SVM (Silvercorp Metals Inc.) is a stock. Over the past 10 years, SBT.TO returned 11.27%/yr vs 18.01%/yr for SVM. At a 0.27 correlation, their price movements are largely independent.

Performance

SBT.TO vs. SVM - Performance Comparison

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

Different Trading Currencies

SBT.TO is traded in CAD, while SVM is traded in USD. To make them comparable, the SVM 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 SVM's 25.78% return. Over the past 10 years, SBT.TO has underperformed SVM with an annualized return of 11.27%, while SVM has yielded a comparatively higher 18.01% 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%

SVM

• 1D: -7.38%
• 1M: -17.74%
• YTD: 25.78%
• 6M: 22.33%
• 1Y: 149.25%
• 3Y*: 57.55%
• 5Y*: 16.96%
• 10Y*: 18.01%

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

SBT.TO vs. SVM - 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%
SVM Silvercorp Metals Inc.	25.78%	166.54%	24.61%	-12.46%	-15.57%	-43.55%	15.73%	161.04%	-12.14%	4.90%

Correlation

The correlation between SBT.TO and SVM is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since May 27, 2016	0.27

Over the past year, SBT.TO and SVM have become more correlated (0.62) than their long-term average of 0.27, meaning their price movements have been converging.

Return for Risk

SBT.TO vs. SVM — 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

SVM

SVM Risk / Return Rank: 86
SVM Sharpe Ratio Rank: 90
SVM Sortino Ratio Rank: 83
SVM Omega Ratio Rank: 82
SVM Calmar Ratio Rank: 88
SVM Martin Ratio Rank: 89

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. SVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) and Silvercorp Metals Inc. (SVM). 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	SVM	Difference
Sharpe ratio: Return per unit of total volatility	0.94	2.14	-1.20
Sortino ratio: Return per unit of downside risk	1.38	2.43	-1.04
Omega ratio: Gain probability vs. loss probability	1.22	1.31	-0.09
Calmar ratio: Return relative to maximum drawdown	1.10	3.96	-2.87
Martin ratio: Return relative to average drawdown	2.45	10.54	-8.10

SBT.TO vs. SVM - Sharpe Ratio Comparison

The current SBT.TO Sharpe Ratio is 0.94, which is lower than the SVM Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of SBT.TO and SVM, 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. SVM - Drawdown Comparison

The maximum SBT.TO drawdown since its inception was -52.39%, smaller than the maximum SVM drawdown of -96.98%. Use the drawdown chart below to compare losses from any high point for SBT.TO and SVM.

Drawdown Indicators

	SBT.TO	SVM	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-96.98%	+44.59%
Max Drawdown (1Y) Largest decline over 1 year	-52.39%	-37.88%	-14.51%
Max Drawdown (3Y) Largest decline over 3 years	-52.39%	-40.74%	-11.65%
Max Drawdown (5Y) Largest decline over 5 years	-52.39%	-59.59%	+7.20%
Max Drawdown (10Y) Largest decline over 10 years	-52.39%	-75.32%	+22.93%
Current Drawdown Current decline from peak	-50.25%	-33.24%	-17.01%
Average Drawdown Average peak-to-trough decline	-17.17%	-67.46%	+50.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.42%	14.21%	+9.21%

Volatility

SBT.TO vs. SVM - Volatility Comparison

The current volatility for Purpose Silver Bullion Fund (SBT.TO) is 16.91%, while Silvercorp Metals Inc. (SVM) has a volatility of 26.96%. This indicates that SBT.TO experiences smaller price fluctuations and is considered to be less risky than SVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBT.TO	SVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.91%	26.96%	-10.05%
Volatility (6M) Calculated over the trailing 6-month period	59.53%	57.93%	+1.60%
Volatility (1Y) Calculated over the trailing 1-year period	61.18%	70.24%	-9.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.75%	56.18%	-18.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.39%	62.36%	+5.03%

Dividends

SBT.TO vs. SVM - Dividend Comparison

SBT.TO has not paid dividends to shareholders, while SVM's dividend yield for the trailing twelve months is around 0.25%.

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%
SVM Silvercorp Metals Inc.	0.25%	0.30%	0.83%	0.95%	0.84%	0.66%	0.37%	0.44%	1.19%	0.76%	0.43%	2.13%

Frequently Asked Questions

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

SBT.TO and SVM have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.