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 -28.55%/yr vs 11.85%/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 -27.64% return, which is significantly lower than SLV's -19.62% return. Over the past 10 years, SIJ has underperformed SLV with an annualized return of -28.55%, while SLV has yielded a comparatively higher 11.85% annualized return.
SIJ
- 1D
- -3.10%
- 1M
- -8.30%
- YTD
- -27.64%
- 6M
- -25.32%
- 1Y
- -35.52%
- 3Y*
- -30.38%
- 5Y*
- -20.12%
- 10Y*
- -28.55%
SLV
- 1D
- -7.09%
- 1M
- -24.25%
- YTD
- -19.62%
- 6M
- -20.61%
- 1Y
- 58.79%
- 3Y*
- 36.01%
- 5Y*
- 16.45%
- 10Y*
- 11.85%
SIJ vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -27.64% | -29.33% | -21.63% | -24.18% | 18.15% | -34.31% | -54.09% | -45.12% | 20.55% | -36.32% |
SLV iShares Silver Trust | -19.62% | 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 -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
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 1, 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.
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.
| SIJ | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.94 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.22 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 1.16 | -2.12 |
| Martin ratioReturn relative to average drawdown | -1.73 | 2.66 | -4.39 |
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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 | -37.24% | -50.97% | +13.73% |
Max Drawdown (3Y)Largest decline over 3 years | -71.47% | -50.97% | -20.50% |
Max Drawdown (5Y)Largest decline over 5 years | -77.76% | -50.97% | -26.79% |
Max Drawdown (10Y)Largest decline over 10 years | -96.73% | -50.97% | -45.76% |
Current DrawdownCurrent decline from peak | -99.93% | -50.97% | -48.96% |
Average DrawdownAverage peak-to-trough decline | -86.76% | -44.66% | -42.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.59% | 22.14% | -1.55% |
Volatility
SIJ vs. SLV - Volatility Comparison
The current volatility for ProShares UltraShort Industrials (SIJ) is 12.50%, while iShares Silver Trust (SLV) has a volatility of 15.67%. 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 | 12.50% | 15.67% | -3.17% |
Volatility (6M)Calculated over the trailing 6-month period | 28.23% | 59.65% | -31.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.41% | 60.78% | -27.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.16% | 36.73% | -0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.74% | 32.16% | +7.58% |
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 6.25%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | 6.25% | 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 -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (15.67%) compared to SIJ (12.50%). In terms of maximum drawdown, SIJ dropped -99.93% vs SLV's -76.28%.
On 10-year performance, SLV leads with 11.85% vs -28.55% for SIJ. On fees, SLV is cheaper at 0.50% per year. On volatility, SIJ has been the lower-risk option at 12.50%. 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 11.85% return vs -28.55%. 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 6.25%, 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 (0.97 vs -1.07), 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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