SHYM vs. SLV
SHYM (iShares Short Duration High Yield Muni Active ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - SHYM is a High Yield Muni fund actively managed by iShares, while SLV is a Silver fund tracking the LBMA Silver Price. SHYM is actively managed, while SLV is passively managed. Over the past 5 years, SHYM returned 0.99%/yr vs 20.76%/yr for SLV. At a 0.15 correlation, their price movements are largely independent. SHYM charges 0.35%/yr vs 0.50%/yr for SLV.
Performance
SHYM vs. SLV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SHYM achieves a 1.93% return, which is significantly lower than SLV's 2.78% return.
SHYM
- 1D
- 0.00%
- 1M
- 0.89%
- YTD
- 1.93%
- 6M
- 2.33%
- 1Y
- 5.18%
- 3Y*
- 6.00%
- 5Y*
- 0.99%
- 10Y*
- —
SLV
- 1D
- -2.62%
- 1M
- 0.41%
- YTD
- 2.78%
- 6M
- 24.76%
- 1Y
- 110.59%
- 3Y*
- 45.06%
- 5Y*
- 20.76%
- 10Y*
- 15.55%
SHYM vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 1.93% | 2.58% | 6.99% | 9.67% | -15.96% | 6.71% |
SLV iShares Silver Trust | 2.78% | 144.66% | 20.89% | -1.09% | 2.37% | -10.75% |
Correlation
The correlation between SHYM and SLV is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2021 | 0.15 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SHYM vs. SLV — Risk / Return Rank
SHYM
SLV
SHYM vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration High Yield Muni Active ETF (SHYM) and iShares Silver Trust (SLV). 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.
| SHYM | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.62 | -0.29 |
| Martin ratioReturn relative to average drawdown | 7.86 | 5.64 | +2.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SHYM | SLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 1.89 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.58 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.25 | +0.02 |
Drawdowns
SHYM vs. SLV - Drawdown Comparison
The maximum SHYM drawdown since its inception was -22.55%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for SHYM and SLV.
Loading charts...
Drawdown Indicators
| SHYM | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.55% | -76.28% | +53.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -42.45% | +40.22% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | -42.45% | +34.39% |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | -42.45% | +19.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.81% | — |
Current DrawdownCurrent decline from peak | 0.00% | -37.30% | +37.30% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -44.67% | +37.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 19.67% | -19.01% |
Volatility
SHYM vs. SLV - Volatility Comparison
The current volatility for iShares Short Duration High Yield Muni Active ETF (SHYM) is 0.77%, while iShares Silver Trust (SLV) has a volatility of 16.30%. This indicates that SHYM experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SHYM | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 16.30% | -15.53% |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | 58.31% | -56.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 58.90% | -55.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.07% | 36.15% | -29.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.95% | 31.84% | -24.89% |
SHYM vs. SLV - Expense Ratio Comparison
SHYM has a 0.35% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
SHYM vs. SLV - Dividend Comparison
SHYM's dividend yield for the trailing twelve months is around 4.30%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 4.30% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SHYM and SLV have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (16.30%) compared to SHYM (0.77%). In terms of maximum drawdown, SHYM dropped -22.55% vs SLV's -76.28%.
On 5-year performance, SLV leads with 20.76% vs 0.99% for SHYM. On fees, SHYM is cheaper at 0.35% per year. On volatility, SHYM has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SLV has performed better with a 20.76% return vs 0.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYM is cheaper with a 0.35% expense ratio, compared with 0.50% for SLV.
SHYM has the higher dividend yield at 4.30%, compared with 0.00% for SLV.
SHYM is categorized as High Yield Muni, while SLV is Silver. Their fees differ too: 0.35% for SHYM and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (1.89 vs 1.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for SHYM and SLV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer