SIL vs. FNV
SIL (Global X Silver Miners ETF) is Silver fund tracking the Solactive Global Silver Miners Total Return Index, while FNV (Franco-Nevada Corporation) is a stock. Over the past 10 years, SIL returned 9.80%/yr vs 12.96%/yr for FNV. A 0.75 correlation means they provide meaningful diversification when combined.
Performance
SIL vs. FNV - Performance Comparison
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Returns By Period
In the year-to-date period, SIL achieves a -2.20% return, which is significantly lower than FNV's 1.43% return. Over the past 10 years, SIL has underperformed FNV with an annualized return of 9.80%, while FNV has yielded a comparatively higher 12.96% annualized return.
SIL
- 1D
- 3.27%
- 1M
- -20.41%
- YTD
- -2.20%
- 6M
- 0.10%
- 1Y
- 70.58%
- 3Y*
- 46.50%
- 5Y*
- 12.56%
- 10Y*
- 9.80%
FNV
- 1D
- 0.75%
- 1M
- -12.83%
- YTD
- 1.43%
- 6M
- -2.28%
- 1Y
- 25.80%
- 3Y*
- 14.28%
- 5Y*
- 7.76%
- 10Y*
- 12.96%
SIL vs. FNV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIL Global X Silver Miners ETF | -2.20% | 166.16% | 14.62% | 1.31% | -22.83% | -18.35% | 40.30% | 34.78% | -22.42% | 1.67% |
FNV Franco-Nevada Corporation | 1.43% | 77.81% | 7.41% | -17.96% | -0.39% | 11.57% | 22.31% | 48.92% | -11.00% | 35.45% |
Correlation
The correlation between SIL and FNV is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010 | 0.75 |
The correlation between SIL and FNV has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.
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Return for Risk
SIL vs. FNV — Risk / Return Rank
SIL
FNV
SIL vs. FNV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Silver Miners ETF (SIL) and Franco-Nevada Corporation (FNV). 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.
| SIL | FNV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.15 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.01 | +0.90 |
| Martin ratioReturn relative to average drawdown | 5.09 | 2.50 | +2.59 |
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Drawdowns
SIL vs. FNV - Drawdown Comparison
The maximum SIL drawdown since its inception was -82.99%, which is greater than FNV's maximum drawdown of -58.76%. Use the drawdown chart below to compare losses from any high point for SIL and FNV.
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Drawdown Indicators
| SIL | FNV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.99% | -58.76% | -24.23% |
Max Drawdown (1Y)Largest decline over 1 year | -37.08% | -25.68% | -11.40% |
Max Drawdown (3Y)Largest decline over 3 years | -37.08% | -29.64% | -7.44% |
Max Drawdown (5Y)Largest decline over 5 years | -54.29% | -37.12% | -17.17% |
Max Drawdown (10Y)Largest decline over 10 years | -63.04% | -37.12% | -25.92% |
Current DrawdownCurrent decline from peak | -30.80% | -25.13% | -5.67% |
Average DrawdownAverage peak-to-trough decline | -51.40% | -13.97% | -37.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.90% | 10.33% | +3.57% |
Volatility
SIL vs. FNV - Volatility Comparison
Global X Silver Miners ETF (SIL) has a higher volatility of 19.29% compared to Franco-Nevada Corporation (FNV) at 11.92%. This indicates that SIL's price experiences larger fluctuations and is considered to be riskier than FNV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIL | FNV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.29% | 11.92% | +7.37% |
Volatility (6M)Calculated over the trailing 6-month period | 43.57% | 29.98% | +13.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.69% | 35.97% | +15.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.64% | 30.32% | +9.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.81% | 30.17% | +9.64% |
Dividends
SIL vs. FNV - Dividend Comparison
SIL's dividend yield for the trailing twelve months is around 1.21%, more than FNV's 0.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNV Franco-Nevada Corporation | 0.78% | 0.73% | 1.22% | 1.23% | 0.94% | 1.10% | 0.82% | 0.96% | 1.35% | 1.14% | 1.46% | 1.81% |
SIL Global X Silver Miners ETF | 1.21% | 1.18% | 2.40% | 0.59% | 0.48% | 1.59% | 1.92% | 1.53% | 1.21% | 0.02% | 3.34% | 0.38% |
Frequently Asked Questions
SIL and FNV have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIL has higher volatility (19.29%) compared to FNV (11.92%). In terms of maximum drawdown, SIL dropped -82.99% vs FNV's -58.76%.
SIL currently has the higher Sharpe Ratio (1.37 vs 0.72), 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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