SIL vs. RGLD

Last updated Jun 9, 2026

SIL (Global X Silver Miners ETF) is Silver fund tracking the Solactive Global Silver Miners Total Return Index, while RGLD (Royal Gold, Inc.) is a stock. Over the past 10 years, SIL returned 9.24%/yr vs 13.42%/yr for RGLD. A 0.78 correlation means they provide meaningful diversification when combined.

Performance

SIL vs. RGLD - Performance Comparison

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

Returns By Period

In the year-to-date period, SIL achieves a -4.72% return, which is significantly higher than RGLD's -7.10% return. Over the past 10 years, SIL has underperformed RGLD with an annualized return of 9.24%, while RGLD has yielded a comparatively higher 13.42% annualized return.

SIL

• 1D: 0.38%
• 1M: -18.16%
• YTD: -4.72%
• 6M: 7.62%
• 1Y: 66.61%
• 3Y*: 44.84%
• 5Y*: 12.27%
• 10Y*: 9.24%

RGLD

• 1D: -0.18%
• 1M: -13.90%
• YTD: -7.10%
• 6M: 4.13%
• 1Y: 17.94%
• 3Y*: 21.33%
• 5Y*: 12.39%
• 10Y*: 13.42%

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

SIL vs. RGLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIL Global X Silver Miners ETF	-4.72%	166.16%	14.62%	1.31%	-22.83%	-18.35%	40.30%	34.78%	-22.42%	1.67%
RGLD Royal Gold, Inc.	-7.10%	70.43%	10.39%	8.70%	8.51%	0.04%	-12.13%	44.27%	5.53%	31.32%

Correlation

The correlation between SIL and RGLD is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Apr 21, 2010	0.78

The correlation between SIL and RGLD has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.

Return for Risk

SIL vs. RGLD — Risk / Return Rank

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

SIL

SIL Risk / Return Rank: 40
SIL Sharpe Ratio Rank: 41
SIL Sortino Ratio Rank: 36
SIL Omega Ratio Rank: 40
SIL Calmar Ratio Rank: 45
SIL Martin Ratio Rank: 36

RGLD

RGLD Risk / Return Rank: 55
RGLD Sharpe Ratio Rank: 58
RGLD Sortino Ratio Rank: 52
RGLD Omega Ratio Rank: 52
RGLD Calmar Ratio Rank: 55
RGLD Martin Ratio Rank: 57

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. RGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Silver Miners ETF (SIL) and Royal Gold, Inc. (RGLD). 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	RGLD	Difference
Sharpe ratio: Return per unit of total volatility	1.31	0.46	+0.85
Sortino ratio: Return per unit of downside risk	1.73	0.85	+0.88
Omega ratio: Gain probability vs. loss probability	1.24	1.11	+0.13
Calmar ratio: Return relative to maximum drawdown	2.03	0.56	+1.48
Martin ratio: Return relative to average drawdown	5.05	1.42	+3.63
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. RGLD - Sharpe Ratio Comparison

The current SIL Sharpe Ratio is 1.31, which is higher than the RGLD Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of SIL and RGLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SIL	RGLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	0.46	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.39	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.40	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.18	-0.06

Drawdowns

SIL vs. RGLD - Drawdown Comparison

The maximum SIL drawdown since its inception was -82.99%, smaller than the maximum RGLD drawdown of -98.29%. Use the drawdown chart below to compare losses from any high point for SIL and RGLD.

Drawdown Indicators

	SIL	RGLD	Difference
Max Drawdown Largest peak-to-trough decline	-82.99%	-98.29%	+15.30%
Max Drawdown (1Y) Largest decline over 1 year	-32.91%	-32.28%	-0.63%
Max Drawdown (3Y) Largest decline over 3 years	-32.91%	-32.28%	-0.63%
Max Drawdown (5Y) Largest decline over 5 years	-55.08%	-40.73%	-14.35%
Max Drawdown (10Y) Largest decline over 10 years	-63.04%	-49.55%	-13.49%
Current Drawdown Current decline from peak	-32.58%	-32.28%	-0.30%
Average Drawdown Average peak-to-trough decline	-51.43%	-29.82%	-21.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.24%	12.67%	+0.57%

Volatility

SIL vs. RGLD - Volatility Comparison

Global X Silver Miners ETF (SIL) has a higher volatility of 18.38% compared to Royal Gold, Inc. (RGLD) at 11.83%. This indicates that SIL's price experiences larger fluctuations and is considered to be riskier than RGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIL	RGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.38%	11.83%	+6.55%
Volatility (6M) Calculated over the trailing 6-month period	43.02%	32.02%	+11.00%
Volatility (1Y) Calculated over the trailing 1-year period	51.09%	39.07%	+12.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.48%	31.54%	+7.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.73%	33.63%	+6.10%

Dividends

SIL vs. RGLD - Dividend Comparison

SIL's dividend yield for the trailing twelve months is around 1.24%, more than RGLD's 0.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RGLD Royal Gold, Inc.	0.90%	0.81%	1.21%	1.24%	1.24%	1.14%	1.05%	0.87%	1.17%	1.17%	1.45%	1.81%
SIL Global X Silver Miners ETF	1.24%	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 RGLD in my portfolio?

SIL and RGLD have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIL or RGLD?

SIL has higher volatility (18.38%) compared to RGLD (11.83%). In terms of maximum drawdown, SIL dropped -82.99% vs RGLD's -98.29%.

Which has better risk-adjusted returns?

SIL currently has the higher Sharpe Ratio (1.31 vs 0.46), 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.