SILJ vs. SLV

Last updated Jun 4, 2026

SILJ (Amplify Junior Silver Miners ETF) and SLV (iShares Silver Trust) are both Silver funds - SILJ tracks the Nasdaq Junior Silver Miners Index while SLV tracks the LBMA Silver Price. Both are passively managed. Over the past 10 years, SILJ returned 10.08%/yr vs 15.55%/yr for SLV. A 0.73 correlation means they provide meaningful diversification when combined. SILJ charges 0.69%/yr vs 0.50%/yr for SLV.

Performance

SILJ vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Junior Silver Miners ETF (SILJ) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SILJ achieves a 6.61% return, which is significantly higher than SLV's 2.78% return. Over the past 10 years, SILJ has underperformed SLV with an annualized return of 10.08%, while SLV has yielded a comparatively higher 15.55% annualized return.

SILJ

• 1D: -5.24%
• 1M: 2.57%
• YTD: 6.61%
• 6M: 16.40%
• 1Y: 111.95%
• 3Y*: 47.77%
• 5Y*: 13.13%
• 10Y*: 10.08%

SLV

• 1D: -2.62%
• 1M: 0.41%
• YTD: 2.78%
• 6M: 24.76%
• 1Y: 110.59%
• 3Y*: 45.06%
• 5Y*: 20.76%
• 10Y*: 15.55%

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

SILJ vs. SLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SILJ Amplify Junior Silver Miners ETF	6.61%	183.89%	6.39%	-5.21%	-15.42%	-23.21%	33.00%	57.06%	-27.95%	-5.65%
SLV iShares Silver Trust	2.78%	144.66%	20.89%	-1.09%	2.37%	-12.45%	47.30%	14.88%	-9.19%	5.82%

Correlation

The correlation between SILJ and SLV is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012	0.73

The correlation between SILJ and SLV has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

SILJ vs. SLV - Sectors Allocation Comparison

Sectors	SILJ	SLV
Basic Materials	99.8%	100.0%
Financial Services	0.3%	-
Consumer Defensive	0.2%	-
Communication Services	0.0%	-
Consumer Cyclical	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SILJ vs. SLV — Risk / Return Rank

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

SILJ

SILJ Risk / Return Rank: 54
SILJ Sharpe Ratio Rank: 59
SILJ Sortino Ratio Rank: 46
SILJ Omega Ratio Rank: 51
SILJ Calmar Ratio Rank: 64
SILJ Martin Ratio Rank: 47

SLV

SLV Risk / Return Rank: 47
SLV Sharpe Ratio Rank: 54
SLV Sortino Ratio Rank: 40
SLV Omega Ratio Rank: 56
SLV Calmar Ratio Rank: 52
SLV Martin Ratio Rank: 36

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.

SILJ vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Junior Silver Miners ETF (SILJ) 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.

	SILJ	SLV	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.89	+0.16
Sortino ratio: Return per unit of downside risk	2.35	2.07	+0.29
Omega ratio: Gain probability vs. loss probability	1.32	1.35	-0.03
Calmar ratio: Return relative to maximum drawdown	3.24	2.62	+0.62
Martin ratio: Return relative to average drawdown	7.99	5.64	+2.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SILJ vs. SLV - Sharpe Ratio Comparison

The current SILJ Sharpe Ratio is 2.05, which is comparable to the SLV Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of SILJ and SLV, 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

	SILJ	SLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	1.89	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.58	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.49	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.25	-0.16

Drawdowns

SILJ vs. SLV - Drawdown Comparison

The maximum SILJ drawdown since its inception was -79.04%, roughly equal to the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for SILJ and SLV.

Drawdown Indicators

	SILJ	SLV	Difference
Max Drawdown Largest peak-to-trough decline	-79.04%	-76.28%	-2.76%
Max Drawdown (1Y) Largest decline over 1 year	-34.71%	-42.45%	+7.74%
Max Drawdown (3Y) Largest decline over 3 years	-34.71%	-42.45%	+7.74%
Max Drawdown (5Y) Largest decline over 5 years	-55.47%	-42.45%	-13.02%
Max Drawdown (10Y) Largest decline over 10 years	-70.06%	-42.81%	-27.25%
Current Drawdown Current decline from peak	-26.80%	-37.30%	+10.50%
Average Drawdown Average peak-to-trough decline	-41.43%	-44.67%	+3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.06%	19.67%	-5.61%

Volatility

SILJ vs. SLV - Volatility Comparison

Amplify Junior Silver Miners ETF (SILJ) has a higher volatility of 18.69% compared to iShares Silver Trust (SLV) at 16.30%. This indicates that SILJ's price experiences larger fluctuations and is considered to be riskier than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SILJ	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.69%	16.30%	+2.39%
Volatility (6M) Calculated over the trailing 6-month period	45.24%	58.31%	-13.07%
Volatility (1Y) Calculated over the trailing 1-year period	54.90%	58.90%	-4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.35%	36.15%	+8.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.24%	31.84%	+14.40%

SILJ vs. SLV - Expense Ratio Comparison

SILJ has a 0.69% expense ratio, which is higher than SLV's 0.50% expense ratio.

Dividends

SILJ vs. SLV - Dividend Comparison

SILJ's dividend yield for the trailing twelve months is around 1.88%, while SLV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SILJ Amplify Junior Silver Miners ETF	1.88%	2.00%	7.26%	0.01%	0.05%	0.36%	1.23%	1.45%	1.66%	0.00%	0.52%	2.46%
SLV iShares Silver Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SILJ and SLV in my portfolio?

SILJ and SLV have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SILJ or SLV?

SILJ has higher volatility (18.69%) compared to SLV (16.30%). In terms of maximum drawdown, SILJ dropped -79.04% vs SLV's -76.28%.

Which ETF is better, SILJ or SLV?

On 10-year performance, SLV leads with 15.55% vs 10.08% for SILJ. On fees, SLV is cheaper at 0.50% per year. On volatility, SLV has been the lower-risk option at 16.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SILJ or SLV?

Over the 10-year period, SLV has performed better with a 15.55% return vs 10.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SILJ or SLV?

SLV is cheaper with a 0.50% expense ratio, compared with 0.69% for SILJ.

Which ETF pays a higher dividend yield, SILJ or SLV?

SILJ has the higher dividend yield at 1.88%, compared with 0.00% for SLV.

What is the main difference between SILJ and SLV?

SILJ tracks Nasdaq Junior Silver Miners Index, while SLV tracks LBMA Silver Price. They also come from different issuers: Amplify and iShares. Their fees differ too: 0.69% for SILJ and 0.50% for SLV.

Which has better risk-adjusted returns?

SILJ currently has the higher Sharpe Ratio (2.05 vs 1.89), 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.