SIJ vs. SLV
SIJ (ProShares UltraShort Industrials) and SLV (iShares Silver Trust) are both exchange-traded funds - SIJ is a Leveraged Equities fund tracking the DJ Global United States (All) / Industrials -IND (-200%), while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, SIJ returned -27.77%/yr vs 15.55%/yr for SLV. At a correlation of -0.19, they often move in opposite directions. SIJ charges 0.95%/yr vs 0.50%/yr for SLV.
Performance
SIJ vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, SIJ achieves a -21.28% return, which is significantly lower than SLV's 2.78% return. Over the past 10 years, SIJ has underperformed SLV with an annualized return of -27.77%, while SLV has yielded a comparatively higher 15.55% annualized return.
SIJ
- 1D
- -0.08%
- 1M
- -3.55%
- YTD
- -21.28%
- 6M
- -22.55%
- 1Y
- -31.23%
- 3Y*
- -29.54%
- 5Y*
- -18.51%
- 10Y*
- -27.77%
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%
SIJ vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -21.28% | -29.33% | -21.63% | -24.18% | 18.15% | -34.31% | -54.09% | -45.12% | 20.55% | -36.32% |
SLV iShares Silver Trust | 2.78% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between SIJ and SLV is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007 | -0.19 |
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Return for Risk
SIJ vs. SLV — Risk / Return Rank
SIJ
SLV
SIJ vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) 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.
| SIJ | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.88 | ||
| Sortino ratioReturn per unit of downside risk | -3.43 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.35 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 2.62 | -3.50 |
| Martin ratioReturn relative to average drawdown | -1.50 | 5.64 | -7.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SIJ | SLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 1.89 | -2.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.52 | 0.58 | -1.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.70 | 0.49 | -1.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | 0.25 | -0.87 |
Drawdowns
SIJ vs. SLV - Drawdown Comparison
The maximum SIJ drawdown since its inception was -99.93%, which is greater than SLV's maximum drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for SIJ and SLV.
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Drawdown Indicators
| SIJ | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -76.28% | -23.65% |
Max Drawdown (1Y)Largest decline over 1 year | -35.40% | -42.45% | +7.05% |
Max Drawdown (3Y)Largest decline over 3 years | -69.84% | -42.45% | -27.39% |
Max Drawdown (5Y)Largest decline over 5 years | -76.49% | -42.45% | -34.04% |
Max Drawdown (10Y)Largest decline over 10 years | -96.54% | -42.81% | -53.73% |
Current DrawdownCurrent decline from peak | -99.92% | -37.30% | -62.62% |
Average DrawdownAverage peak-to-trough decline | -86.74% | -44.67% | -42.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.81% | 19.67% | +1.14% |
Volatility
SIJ vs. SLV - Volatility Comparison
The current volatility for ProShares UltraShort Industrials (SIJ) is 10.18%, while iShares Silver Trust (SLV) has a volatility of 16.30%. This indicates that SIJ 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.
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Volatility by Period
| SIJ | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.18% | 16.30% | -6.12% |
Volatility (6M)Calculated over the trailing 6-month period | 26.39% | 58.31% | -31.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.52% | 58.90% | -27.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.84% | 36.15% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.62% | 31.84% | +7.78% |
SIJ vs. SLV - Expense Ratio Comparison
SIJ has a 0.95% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
SIJ vs. SLV - Dividend Comparison
SIJ's dividend yield for the trailing twelve months is around 5.75%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | 5.75% | 5.38% | 5.99% | 4.90% | 0.00% | 0.00% | 0.00% | 1.49% | 0.39% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SIJ and SLV have a correlation of -0.18, 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 SIJ (10.18%). In terms of maximum drawdown, SIJ dropped -99.93% vs SLV's -76.28%.
On 10-year performance, SLV leads with 15.55% vs -27.77% for SIJ. On fees, SLV is cheaper at 0.50% per year. On volatility, SIJ has been the lower-risk option at 10.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLV has performed better with a 15.55% return vs -27.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.95% for SIJ.
SIJ has the higher dividend yield at 5.75%, compared with 0.00% for SLV.
SIJ is categorized as Leveraged Equities, while SLV is Silver. SIJ tracks DJ Global United States (All) / Industrials -IND (-200%), while SLV tracks LBMA Silver Price. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SIJ and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (1.89 vs -1.00), 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.
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