SIVR vs. AGEM

Last updated Jun 4, 2026

SIVR (abrdn Physical Silver Shares ETF) and AGEM (abrdn Emerging Markets Dividend Active ETF) are both exchange-traded funds - SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt), while AGEM is a Emerging Markets Equities fund actively managed by abrdn. SIVR is passively managed, while AGEM is actively managed. Over the past year, SIVR returned 110.95% vs 63.11% for AGEM. At a 0.40 correlation, their price movements are largely independent. SIVR charges 0.30%/yr vs 0.70%/yr for AGEM.

Performance

SIVR vs. AGEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Silver Shares ETF (SIVR) and abrdn Emerging Markets Dividend Active ETF (AGEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIVR achieves a 2.85% return, which is significantly lower than AGEM's 31.54% return.

SIVR

• 1D: -2.62%
• 1M: 0.42%
• YTD: 2.85%
• 6M: 24.90%
• 1Y: 110.95%
• 3Y*: 45.38%
• 5Y*: 21.00%
• 10Y*: 15.77%

AGEM

• 1D: -1.46%
• 1M: 8.91%
• YTD: 31.54%
• 6M: 33.66%
• 1Y: 63.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIVR vs. AGEM - Yearly Performance Comparison

	2026 (YTD)	2025
SIVR abrdn Physical Silver Shares ETF	2.85%	115.96%
AGEM abrdn Emerging Markets Dividend Active ETF	31.54%	29.81%

Correlation

The correlation between SIVR and AGEM is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.40

Return for Risk

SIVR vs. AGEM — Risk / Return Rank

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

SIVR

SIVR Risk / Return Rank: 48
SIVR Sharpe Ratio Rank: 54
SIVR Sortino Ratio Rank: 39
SIVR Omega Ratio Rank: 56
SIVR Calmar Ratio Rank: 52
SIVR Martin Ratio Rank: 36

AGEM

AGEM Risk / Return Rank: 87
AGEM Sharpe Ratio Rank: 91
AGEM Sortino Ratio Rank: 88
AGEM Omega Ratio Rank: 88
AGEM Calmar Ratio Rank: 84
AGEM Martin Ratio Rank: 85

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.

SIVR vs. AGEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) and abrdn Emerging Markets Dividend Active ETF (AGEM). 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.

	SIVR	AGEM	Difference
Sharpe ratio: Return per unit of total volatility	1.90	3.15	-1.25
Sortino ratio: Return per unit of downside risk	2.07	3.97	-1.90
Omega ratio: Gain probability vs. loss probability	1.35	1.56	-0.20
Calmar ratio: Return relative to maximum drawdown	2.63	4.56	-1.93
Martin ratio: Return relative to average drawdown	5.67	17.79	-12.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIVR vs. AGEM - Sharpe Ratio Comparison

The current SIVR Sharpe Ratio is 1.90, which is lower than the AGEM Sharpe Ratio of 3.15. The chart below compares the historical Sharpe Ratios of SIVR and AGEM, 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

	SIVR	AGEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	3.15	-1.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	2.41	-2.09

Drawdowns

SIVR vs. AGEM - Drawdown Comparison

The maximum SIVR drawdown since its inception was -75.85%, which is greater than AGEM's maximum drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for SIVR and AGEM.

Drawdown Indicators

	SIVR	AGEM	Difference
Max Drawdown Largest peak-to-trough decline	-75.85%	-15.58%	-60.27%
Max Drawdown (1Y) Largest decline over 1 year	-42.42%	-13.92%	-28.50%
Max Drawdown (3Y) Largest decline over 3 years	-42.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.42%	—	—
Current Drawdown Current decline from peak	-37.25%	-1.46%	-35.79%
Average Drawdown Average peak-to-trough decline	-47.85%	-2.23%	-45.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.64%	3.56%	+16.08%

Volatility

SIVR vs. AGEM - Volatility Comparison

abrdn Physical Silver Shares ETF (SIVR) has a higher volatility of 16.28% compared to abrdn Emerging Markets Dividend Active ETF (AGEM) at 9.15%. This indicates that SIVR's price experiences larger fluctuations and is considered to be riskier than AGEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIVR	AGEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.28%	9.15%	+7.13%
Volatility (6M) Calculated over the trailing 6-month period	58.30%	17.67%	+40.63%
Volatility (1Y) Calculated over the trailing 1-year period	58.84%	20.15%	+38.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.17%	21.51%	+14.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.87%	21.51%	+10.36%

SIVR vs. AGEM - Expense Ratio Comparison

SIVR has a 0.30% expense ratio, which is lower than AGEM's 0.70% expense ratio.

Dividends

SIVR vs. AGEM - Dividend Comparison

SIVR has not paid dividends to shareholders, while AGEM's dividend yield for the trailing twelve months is around 1.71%.

Position	TTM	2025
AGEM abrdn Emerging Markets Dividend Active ETF	1.71%	1.80%
SIVR abrdn Physical Silver Shares ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIVR and AGEM in my portfolio?

SIVR and AGEM have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIVR or AGEM?

SIVR has higher volatility (16.28%) compared to AGEM (9.15%). In terms of maximum drawdown, SIVR dropped -75.85% vs AGEM's -15.58%.

Which ETF is better, SIVR or AGEM?

On 1-year performance, SIVR leads with 110.95% vs 63.11% for AGEM. On fees, SIVR is cheaper at 0.30% per year. On volatility, AGEM has been the lower-risk option at 9.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIVR or AGEM?

Over the 1-year period, SIVR has performed better with a 110.95% return vs 63.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIVR or AGEM?

SIVR is cheaper with a 0.30% expense ratio, compared with 0.70% for AGEM.

Which ETF pays a higher dividend yield, SIVR or AGEM?

AGEM has the higher dividend yield at 1.71%, compared with 0.00% for SIVR.

What is the main difference between SIVR and AGEM?

SIVR is categorized as Silver, while AGEM is Emerging Markets Equities. Their fees differ too: 0.30% for SIVR and 0.70% for AGEM.

Which has better risk-adjusted returns?

AGEM currently has the higher Sharpe Ratio (3.15 vs 1.90), 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.