SILV.L vs. GLDI.L
SILV.L (Global X Silver Miners UCITS ETF USD (Acc)) and GLDI.L (IncomeShares Gold+ Yield ETP) are both exchange-traded funds - SILV.L is a Precious Metals fund tracking the Solactive Global Silver Miners Total Return v2 Index, while GLDI.L is a Derivative Income fund actively managed by Leverage Shares. SILV.L is passively managed, while GLDI.L is actively managed. Over the past year, SILV.L returned 52.36% vs 9.54% for GLDI.L. A 0.64 correlation means they provide meaningful diversification when combined. SILV.L charges 0.65%/yr vs 0.35%/yr for GLDI.L.
Performance
SILV.L vs. GLDI.L - Performance Comparison
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Returns By Period
In the year-to-date period, SILV.L achieves a -14.54% return, which is significantly lower than GLDI.L's -12.00% return.
SILV.L
- 1D
- -1.10%
- 1M
- -21.48%
- 6M
- -26.71%
- YTD
- -14.54%
- 1Y
- 52.36%
- 3Y*
- 37.77%
- 5Y*
- —
- 10Y*
- —
GLDI.L
- 1D
- 0.00%
- 1M
- -6.04%
- 6M
- -17.66%
- YTD
- -12.00%
- 1Y
- 9.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SILV.L vs. GLDI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SILV.L Global X Silver Miners UCITS ETF USD (Acc) | -14.54% | 172.49% | 7.76% |
GLDI.L IncomeShares Gold+ Yield ETP | -12.00% | 56.02% | 2.95% |
Correlation
The correlation between SILV.L and GLDI.L is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2024 | 0.64 |
The correlation between SILV.L and GLDI.L has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.
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Return for Risk
SILV.L vs. GLDI.L — Risk / Return Rank
SILV.L
GLDI.L
SILV.L vs. GLDI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Silver Miners UCITS ETF USD (Acc) (SILV.L) and IncomeShares Gold+ Yield ETP (GLDI.L). 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.
| SILV.L | GLDI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.09 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 0.39 | +0.93 |
| Martin ratioReturn relative to average drawdown | 2.94 | 0.88 | +2.06 |
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Drawdowns
SILV.L vs. GLDI.L - Drawdown Comparison
The maximum SILV.L drawdown since its inception was -39.57%, which is greater than GLDI.L's maximum drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for SILV.L and GLDI.L.
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Drawdown Indicators
| SILV.L | GLDI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.57% | -24.40% | -15.17% |
Max Drawdown (1Y)Largest decline over 1 year | -39.57% | -24.40% | -15.17% |
Max Drawdown (3Y)Largest decline over 3 years | -39.57% | — | — |
Current DrawdownCurrent decline from peak | -39.57% | -24.12% | -15.45% |
Average DrawdownAverage peak-to-trough decline | -14.14% | -5.06% | -9.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.76% | 10.77% | +6.99% |
Volatility
SILV.L vs. GLDI.L - Volatility Comparison
Global X Silver Miners UCITS ETF USD (Acc) (SILV.L) has a higher volatility of 14.68% compared to IncomeShares Gold+ Yield ETP (GLDI.L) at 5.92%. This indicates that SILV.L's price experiences larger fluctuations and is considered to be riskier than GLDI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SILV.L | GLDI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.68% | 5.92% | +8.76% |
Volatility (6M)Calculated over the trailing 6-month period | 45.64% | 19.66% | +25.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.89% | 22.90% | +32.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.19% | 19.39% | +24.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.19% | 19.39% | +24.80% |
SILV.L vs. GLDI.L - Expense Ratio Comparison
SILV.L has a 0.65% expense ratio, which is higher than GLDI.L's 0.35% expense ratio.
Dividends
SILV.L vs. GLDI.L - Dividend Comparison
SILV.L has not paid dividends to shareholders, while GLDI.L's dividend yield for the trailing twelve months is around 7.27%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GLDI.L IncomeShares Gold+ Yield ETP | 7.27% | 6.28% | 0.50% |
SILV.L Global X Silver Miners UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SILV.L and GLDI.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDI.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDI.L is cheaper with a 0.35% expense ratio, compared with 0.65% for SILV.L.
SILV.L is categorized as Precious Metals, while GLDI.L is Derivative Income. They also come from different issuers: Global X and Leverage Shares. Their fees differ too: 0.65% for SILV.L and 0.35% for GLDI.L.
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