SBT.TO vs. XSLE.DE
SBT.TO (Purpose Silver Bullion Fund) and XSLE.DE (Xtrackers IE Physical Silver (EUR Hedged) ETC Securities) are both Silver funds - SBT.TO tracks the LBMA Silver Price while XSLE.DE tracks the LBMA Silver Price (EUR Hedged). Both are passively managed. Over the past 5 years, SBT.TO returned 15.33%/yr vs 15.13%/yr for XSLE.DE. A 0.50 correlation means they provide meaningful diversification when combined. SBT.TO charges 0.36%/yr vs 0.73%/yr for XSLE.DE.
Performance
SBT.TO vs. XSLE.DE - Performance Comparison
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Different Trading Currencies
SBT.TO is traded in CAD, while XSLE.DE is traded in EUR. To make them comparable, the XSLE.DE 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 higher than XSLE.DE's -25.64% 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%
XSLE.DE
- 1D
- 0.00%
- 1M
- -23.46%
- YTD
- -25.64%
- 6M
- -25.64%
- 1Y
- 54.05%
- 3Y*
- 36.38%
- 5Y*
- 15.13%
- 10Y*
- —
SBT.TO vs. XSLE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SBT.TO Purpose Silver Bullion Fund | -18.66% | 137.07% | 18.55% | -0.86% | 1.99% | -13.18% | 55.97% |
XSLE.DE Xtrackers IE Physical Silver (EUR Hedged) ETC Securities | -25.64% | 167.43% | 23.32% | -4.19% | 0.47% | -22.22% | 71.92% |
Correlation
The correlation between SBT.TO and XSLE.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 14, 2020 | 0.50 |
Over the past year, SBT.TO and XSLE.DE have become more correlated (0.78) than their long-term average of 0.50, meaning their price movements have been converging.
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Return for Risk
SBT.TO vs. XSLE.DE — Risk / Return Rank
SBT.TO
XSLE.DE
SBT.TO vs. XSLE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) and Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE). 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 | XSLE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.06 | +0.03 |
| Martin ratioReturn relative to average drawdown | 2.45 | 2.32 | +0.13 |
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Drawdowns
SBT.TO vs. XSLE.DE - Drawdown Comparison
The maximum SBT.TO drawdown since its inception was -52.39%, roughly equal to the maximum XSLE.DE drawdown of -52.12%. Use the drawdown chart below to compare losses from any high point for SBT.TO and XSLE.DE.
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Drawdown Indicators
| SBT.TO | XSLE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.39% | -52.12% | -0.27% |
Max Drawdown (1Y)Largest decline over 1 year | -52.39% | -50.51% | -1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -52.39% | -50.51% | -1.88% |
Max Drawdown (5Y)Largest decline over 5 years | -52.39% | -50.51% | -1.88% |
Max Drawdown (10Y)Largest decline over 10 years | -52.39% | — | — |
Current DrawdownCurrent decline from peak | -50.25% | -50.51% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -17.17% | -22.42% | +5.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.42% | 23.20% | +0.22% |
Volatility
SBT.TO vs. XSLE.DE - Volatility Comparison
Purpose Silver Bullion Fund (SBT.TO) has a higher volatility of 16.91% compared to Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE) at 15.70%. This indicates that SBT.TO's price experiences larger fluctuations and is considered to be riskier than XSLE.DE 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 | XSLE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.91% | 15.70% | +1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 59.53% | 56.00% | +3.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.18% | 59.46% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.75% | 38.31% | -0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.39% | 38.21% | +29.18% |
SBT.TO vs. XSLE.DE - Expense Ratio Comparison
SBT.TO has a 0.36% expense ratio, which is lower than XSLE.DE's 0.73% expense ratio.
Dividends
SBT.TO vs. XSLE.DE - Dividend Comparison
Neither SBT.TO nor XSLE.DE has paid dividends to shareholders.
Frequently Asked Questions
SBT.TO and XSLE.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SBT.TO is cheaper with a 0.36% expense ratio, compared with 0.73% for XSLE.DE.
SBT.TO tracks LBMA Silver Price, while XSLE.DE tracks LBMA Silver Price (EUR Hedged). They also come from different issuers: Purpose Investments and Xtrackers. Their fees differ too: 0.36% for SBT.TO and 0.73% for XSLE.DE.
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