SILV.L vs. VPAC.L
SILV.L (Global X Silver Miners UCITS ETF USD Acc) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) are both Global Equities funds - SILV.L tracks the Global X Silver Miners UCITS ETF USD Acc while VPAC.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF USD. Both are passively managed. Over the past 3 years, SILV.L returned 41.08%/yr vs 8.42%/yr for VPAC.L. At a 0.29 correlation, their price movements are largely independent.
Performance
SILV.L vs. VPAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, SILV.L achieves a -11.23% return, which is significantly lower than VPAC.L's 2.04% return.
SILV.L
- 1D
- -0.13%
- 1M
- -15.41%
- 6M
- -22.68%
- YTD
- -11.23%
- 1Y
- 55.14%
- 3Y*
- 41.08%
- 5Y*
- —
- 10Y*
- —
VPAC.L
- 1D
- -0.12%
- 1M
- 0.03%
- 6M
- 1.83%
- YTD
- 2.04%
- 1Y
- 5.32%
- 3Y*
- 8.42%
- 5Y*
- 3.51%
- 10Y*
- —
SILV.L vs. VPAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SILV.L Global X Silver Miners UCITS ETF USD Acc | -11.23% | 172.49% | 11.77% | -0.99% | -4.08% |
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 2.04% | 6.34% | 10.84% | 9.27% | -1.46% |
Correlation
The correlation between SILV.L and VPAC.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since May 9, 2022 | 0.29 |
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Return for Risk
SILV.L vs. VPAC.L — Risk / Return Rank
SILV.L
VPAC.L
SILV.L vs. VPAC.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 Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.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 | VPAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.32 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.54 | -1.14 |
| Martin ratioReturn relative to average drawdown | 3.13 | 9.98 | -6.86 |
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Drawdowns
SILV.L vs. VPAC.L - Drawdown Comparison
The maximum SILV.L drawdown since its inception was -38.97%, which is greater than VPAC.L's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for SILV.L and VPAC.L.
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Drawdown Indicators
| SILV.L | VPAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.97% | -34.25% | -4.72% |
Max Drawdown (1Y)Largest decline over 1 year | -38.97% | -2.02% | -36.95% |
Max Drawdown (3Y)Largest decline over 3 years | -38.97% | -3.40% | -35.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.89% | — |
Current DrawdownCurrent decline from peak | -37.24% | -0.33% | -36.91% |
Average DrawdownAverage peak-to-trough decline | -14.11% | -3.14% | -10.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.57% | 0.52% | +17.05% |
Volatility
SILV.L vs. VPAC.L - Volatility Comparison
Global X Silver Miners UCITS ETF USD Acc (SILV.L) has a higher volatility of 16.58% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) at 0.74%. This indicates that SILV.L's price experiences larger fluctuations and is considered to be riskier than VPAC.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 | VPAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.58% | 0.74% | +15.84% |
Volatility (6M)Calculated over the trailing 6-month period | 45.59% | 2.28% | +43.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.80% | 3.17% | +52.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.18% | 5.30% | +38.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.18% | 11.00% | +33.18% |
Dividends
SILV.L vs. VPAC.L - Dividend Comparison
Neither SILV.L nor VPAC.L has paid dividends to shareholders.
Frequently Asked Questions
SILV.L and VPAC.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SILV.L tracks Global X Silver Miners UCITS ETF USD Acc, while VPAC.L tracks Invesco Variable Rate Preferred Shares UCITS ETF USD. They also come from different issuers: Global X and Invesco.
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