SIL vs. NGD

Last updated Jun 13, 2026

SIL (Global X Silver Miners ETF) is Silver fund tracking the Solactive Global Silver Miners Total Return Index, while NGD (New Gold Inc.) is a stock. A 0.71 correlation means they provide meaningful diversification when combined.

Performance

SIL vs. NGD - Performance Comparison

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

Returns By Period

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%

NGD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIL vs. NGD - 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%
NGD New Gold Inc.	4.25%	251.21%	69.86%	48.98%	-34.67%	-31.51%	148.86%	16.28%	-77.00%	-6.00%

Correlation

The correlation between SIL and NGD is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010	0.71

The correlation between SIL and NGD has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.

Return for Risk

SIL vs. NGD — Risk / Return Rank

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

SIL

SIL Risk / Return Rank: 41
SIL Sharpe Ratio Rank: 44
SIL Sortino Ratio Rank: 39
SIL Omega Ratio Rank: 43
SIL Calmar Ratio Rank: 44
SIL Martin Ratio Rank: 37

NGD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. NGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Silver Miners ETF (SIL) and New Gold Inc. (NGD). 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	NGD	Difference
Sharpe ratio: Return per unit of total volatility	1.37	—	—
Sortino ratio: Return per unit of downside risk	1.79	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	1.91	—	—
Martin ratio: Return relative to average drawdown	5.09	—	—

Drawdowns

Drawdown Indicators

	SIL	NGD	Difference
Max Drawdown Largest peak-to-trough decline	-82.99%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-37.08%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-37.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-54.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-63.04%	—	—
Current Drawdown Current decline from peak	-30.80%	—	—
Average Drawdown Average peak-to-trough decline	-51.40%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	13.90%	—	—

Volatility

Volatility by Period

	SIL	NGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	51.69%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.64%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.81%	—	—

Dividends

SIL vs. NGD - Dividend Comparison

SIL's dividend yield for the trailing twelve months is around 1.21%, while NGD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NGD New Gold Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both SIL and NGD in my portfolio?

SIL and NGD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.