SIL vs. ^XAU

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Silver Miners ETF (SIL) and Philadelphia Gold and Silver Index (^XAU).

SIL is a passively managed fund by Global X that tracks the performance of the Solactive Global Silver Miners Total Return Index. It was launched on Apr 19, 2010.

Performance

SIL vs. ^XAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Silver Miners ETF (SIL) and Philadelphia Gold and Silver Index (^XAU). The values are adjusted to include any dividend payments, if applicable.

SIL vs. ^XAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIL Global X Silver Miners ETF	11.66%	166.16%	14.62%	1.31%	-22.83%	-18.35%	40.30%	34.78%	-22.42%	1.67%
^XAU Philadelphia Gold and Silver Index	13.79%	149.51%	9.14%	4.00%	-8.75%	-8.14%	34.86%	51.32%	-17.13%	8.13%

Returns By Period

In the year-to-date period, SIL achieves a 11.66% return, which is significantly lower than ^XAU's 13.79% return. Over the past 10 years, SIL has underperformed ^XAU with an annualized return of 15.05%, while ^XAU has yielded a comparatively higher 18.77% annualized return.

SIL

• 1D: 3.53%
• 1M: -20.28%
• YTD: 11.66%
• 6M: 31.12%
• 1Y: 141.36%
• 3Y*: 46.82%
• 5Y*: 19.16%
• 10Y*: 15.05%

^XAU

• 1D: 4.08%
• 1M: -17.00%
• YTD: 13.79%
• 6M: 29.50%
• 1Y: 119.66%
• 3Y*: 43.63%
• 5Y*: 22.72%
• 10Y*: 18.77%

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

Return for Risk

SIL vs. ^XAU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SIL

SIL Risk / Return Rank: 94
SIL Sharpe Ratio Rank: 97
SIL Sortino Ratio Rank: 93
SIL Omega Ratio Rank: 92
SIL Calmar Ratio Rank: 95
SIL Martin Ratio Rank: 94

^XAU

^XAU Risk / Return Rank: 96
^XAU Sharpe Ratio Rank: 97
^XAU Sortino Ratio Rank: 97
^XAU Omega Ratio Rank: 96
^XAU Calmar Ratio Rank: 95
^XAU Martin Ratio Rank: 95

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.

SIL vs. ^XAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Silver Miners ETF (SIL) and Philadelphia Gold and Silver Index (^XAU). 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.

	SIL	^XAU	Difference
Sharpe ratio Return per unit of total volatility	2.86	2.66	+0.20
Sortino ratio Return per unit of downside risk	2.86	2.76	+0.10
Omega ratio Gain probability vs. loss probability	1.42	1.41	+0.01
Calmar ratio Return relative to maximum drawdown	4.23	3.97	+0.27
Martin ratio Return relative to average drawdown	14.49	14.42	+0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIL vs. ^XAU - Sharpe Ratio Comparison

The current SIL Sharpe Ratio is 2.86, which is comparable to the ^XAU Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of SIL and ^XAU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SIL	^XAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.86	2.66	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.64	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.51	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.08	+0.07

Correlation

The correlation between SIL and ^XAU is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

SIL vs. ^XAU - Drawdown Comparison

The maximum SIL drawdown since its inception was -82.99%, roughly equal to the maximum ^XAU drawdown of -83.04%. Use the drawdown chart below to compare losses from any high point for SIL and ^XAU.

Drawdown Indicators

	SIL	^XAU	Difference
Max Drawdown Largest peak-to-trough decline	-82.99%	-83.04%	+0.05%
Max Drawdown (1Y) Largest decline over 1 year	-32.91%	-30.21%	-2.70%
Max Drawdown (5Y) Largest decline over 5 years	-55.63%	-45.52%	-10.11%
Max Drawdown (10Y) Largest decline over 10 years	-63.04%	-45.52%	-17.52%
Current Drawdown Current decline from peak	-20.99%	-17.20%	-3.79%
Average Drawdown Average peak-to-trough decline	-51.78%	-39.84%	-11.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.62%	8.31%	+1.31%

Volatility

SIL vs. ^XAU - Volatility Comparison

Global X Silver Miners ETF (SIL) has a higher volatility of 18.02% compared to Philadelphia Gold and Silver Index (^XAU) at 16.56%. This indicates that SIL's price experiences larger fluctuations and is considered to be riskier than ^XAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIL	^XAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.02%	16.56%	+1.46%
Volatility (6M) Calculated over the trailing 6-month period	42.64%	37.63%	+5.01%
Volatility (1Y) Calculated over the trailing 1-year period	49.82%	45.31%	+4.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.63%	35.68%	+2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.75%	36.62%	+3.13%