SILJ vs. SLVO

Last updated Aug 6, 2026

SILJ (Amplify Junior Silver Miners ETF) and SLVO (UBS ETRACS Silver Shares Covered Call ETN) are both Silver funds - SILJ tracks the Nasdaq Junior Silver Miners Index while SLVO tracks the Credit Suisse NASDAQ Silver FLOWS 106 Index. Both are passively managed. Over the past year, SILJ returned 81.93% vs 29.24% for SLVO. Their 0.77 correlation means they have sometimes moved together and sometimes differently. SILJ charges 0.69%/yr vs 0.65%/yr for SLVO.

Performance

SILJ vs. SLVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Junior Silver Miners ETF (SILJ) and UBS ETRACS Silver Shares Covered Call ETN (SLVO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SILJ achieves a 0.29% return, which is significantly higher than SLVO's -2.43% return.

SILJ

• 1D: 6.28%
• 1M: 4.32%
• 6M: -17.09%
• YTD: 0.29%
• 1Y: 81.93%
• 3Y*: 46.52%
• 5Y*: 17.21%
• 10Y*: 5.77%
• ALL TIME*: 3.56%

SLVO

• 1D: 2.23%
• 1M: -2.90%
• 6M: -7.27%
• YTD: -2.43%
• 1Y: 29.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.24%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SILJ Amplify Junior Silver Miners ETF	$94.15M	$84.62M	$122.89M
SLVO UBS ETRACS Silver Shares Covered Call ETN	$28.00M	$15.87M	$13.53M

SILJ vs. SLVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SILJ Amplify Junior Silver Miners ETF	0.29%	183.89%	-15.16%
SLVO UBS ETRACS Silver Shares Covered Call ETN	-2.43%	71.20%	0.94%

Correlation

The correlation between SILJ and SLVO is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024	0.77

The correlation between SILJ and SLVO has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.

Return for Risk

SILJ vs. SLVO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SILJ

SILJ Risk / Return Rank: 45
SILJ Sharpe Ratio Rank: 49
SILJ Sortino Ratio Rank: 44
SILJ Omega Ratio Rank: 46
SILJ Calmar Ratio Rank: 49
SILJ Martin Ratio Rank: 36

SLVO

SLVO Risk / Return Rank: 34
SLVO Sharpe Ratio Rank: 33
SLVO Sortino Ratio Rank: 29
SLVO Omega Ratio Rank: 37
SLVO Calmar Ratio Rank: 35
SLVO Martin Ratio Rank: 35

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SILJ vs. SLVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Junior Silver Miners ETF (SILJ) and UBS ETRACS Silver Shares Covered Call ETN (SLVO). 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.

	SILJ	SLVO	Difference
Sharpe ratio: Return per unit of total volatility	1.40	0.91	+0.49
Sortino ratio: Return per unit of downside risk	1.86	1.24	+0.62
Omega ratio: Gain probability vs. loss probability	1.24	1.20	+0.04
Calmar ratio: Return relative to maximum drawdown	2.00	1.38	+0.63
Martin ratio: Return relative to average drawdown	4.02	3.86	+0.16

SILJ vs. SLVO - Sharpe Ratio Comparison

The current SILJ Sharpe Ratio is 1.40, which is higher than the SLVO Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of SILJ and SLVO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SILJ vs. SLVO - Drawdown Comparison

The maximum SILJ drawdown since its inception was -79.04%, which is greater than SLVO's maximum drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for SILJ and SLVO.

Drawdown Indicators

	SILJ	SLVO	Difference
Max Drawdown Largest peak-to-trough decline	-79.04%	-22.21%	-56.83%
Max Drawdown (1Y) Largest decline over 1 year	-41.12%	-22.21%	-18.91%
Max Drawdown (3Y) Largest decline over 3 years	-41.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-48.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-70.06%	—	—
Current Drawdown Current decline from peak	-31.14%	-16.79%	-14.35%
Average Drawdown Average peak-to-trough decline	-41.35%	-4.11%	-37.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.44%	7.91%	+12.53%

Volatility

SILJ vs. SLVO - Volatility Comparison

Amplify Junior Silver Miners ETF (SILJ) has a higher volatility of 16.12% compared to UBS ETRACS Silver Shares Covered Call ETN (SLVO) at 9.98%. This indicates that SILJ's price experiences larger fluctuations and is considered to be riskier than SLVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SILJ	SLVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.12%	9.98%	+6.14%
Volatility (6M) Calculated over the trailing 6-month period	45.08%	28.31%	+16.77%
Volatility (1Y) Calculated over the trailing 1-year period	58.89%	33.51%	+25.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.28%	26.76%	+18.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.42%	26.76%	+19.66%

SILJ vs. SLVO - Expense Ratio Comparison

SILJ has a 0.69% expense ratio, which is higher than SLVO's 0.65% expense ratio.

Dividends

SILJ vs. SLVO - Dividend Comparison

SILJ's dividend yield for the trailing twelve months is around 2.00%, less than SLVO's 71.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SILJ Amplify Junior Silver Miners ETF	2.00%	2.00%	7.26%	0.01%	0.05%	0.36%	1.23%	1.45%	1.66%	0.00%	0.52%	2.46%
SLVO UBS ETRACS Silver Shares Covered Call ETN	71.63%	19.35%	14.45%	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 SLVO in my portfolio?

SILJ and SLVO 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 SLVO?

SILJ has higher volatility (16.12%) compared to SLVO (9.98%). In terms of maximum drawdown, SILJ dropped -79.04% vs SLVO's -22.21%.

Which ETF is better, SILJ or SLVO?

On 1-year performance, SILJ leads with 81.93% vs 29.24% for SLVO. On fees, SLVO is cheaper at 0.65% per year. On volatility, SLVO has been the lower-risk option at 9.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SILJ or SLVO?

Over the 1-year period, SILJ has performed better with a 81.93% return vs 29.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SILJ or SLVO?

SLVO is cheaper with a 0.65% expense ratio, compared with 0.69% for SILJ.

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

SLVO has the higher dividend yield at 71.63%, compared with 2.00% for SILJ.

What is the main difference between SILJ and SLVO?

SILJ tracks Nasdaq Junior Silver Miners Index, while SLVO tracks Credit Suisse NASDAQ Silver FLOWS 106 Index. They also come from different issuers: Amplify and UBS. Their fees differ too: 0.69% for SILJ and 0.65% for SLVO.

Which has better risk-adjusted returns?

SILJ currently has the higher Sharpe Ratio (1.40 vs 0.91), 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.