SIVR vs. EWZ
SIVR (abrdn Physical Silver Shares ETF) and EWZ (iShares MSCI Brazil ETF) are both exchange-traded funds - SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt), while EWZ is a Latin America Equities fund tracking the MSCI Brazil 25/50 Index. Both are passively managed. Over the past 10 years, SIVR returned 10.56%/yr vs 6.64%/yr for EWZ. Their 0.29 correlation means their historical movements had little consistent relationship. SIVR charges 0.30%/yr vs 0.59%/yr for EWZ.
Performance
SIVR vs. EWZ - Performance Comparison
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Returns By Period
In the year-to-date period, SIVR achieves a -18.61% return, which is significantly lower than EWZ's 16.46% return. Over the past 10 years, SIVR has outperformed EWZ with an annualized return of 10.56%, while EWZ has yielded a comparatively lower 6.64% annualized return.
SIVR
- 1D
- -2.08%
- 1M
- -2.25%
- 6M
- -30.49%
- YTD
- -18.61%
- 1Y
- 57.47%
- 3Y*
- 33.21%
- 5Y*
- 17.49%
- 10Y*
- 10.56%
- ALL TIME*
- 8.45%
EWZ
- 1D
- 0.33%
- 1M
- 7.23%
- 6M
- -0.11%
- YTD
- 16.46%
- 1Y
- 44.24%
- 3Y*
- 9.53%
- 5Y*
- 7.67%
- 10Y*
- 6.64%
- ALL TIME*
- 6.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $598.51M | $637.15M | $833.60M | |
| $49.50M | $48.83M | $86.59M |
SIVR vs. EWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIVR abrdn Physical Silver Shares ETF | -18.61% | 145.34% | 21.08% | -0.91% | 2.59% | -12.33% | 47.52% | 15.17% | -8.96% | 5.97% |
EWZ iShares MSCI Brazil ETF | 16.46% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | -20.35% | 27.67% | -2.52% | 23.62% |
Correlation
The correlation between SIVR and EWZ is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.33 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2009 | 0.29 |
The correlation between SIVR and EWZ shifts across timeframes, from 0.28 (10 years) to 0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SIVR vs. EWZ — Risk / Return Rank
SIVR
EWZ
SIVR vs. EWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) and iShares MSCI Brazil ETF (EWZ). 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.
| SIVR | EWZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.30 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 2.31 | -1.20 |
| Martin ratioReturn relative to average drawdown | 2.11 | 5.64 | -3.53 |
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Drawdowns
SIVR vs. EWZ - Drawdown Comparison
The maximum SIVR drawdown since its inception was -75.85%, roughly equal to the maximum EWZ drawdown of -77.25%. Use the drawdown chart below to compare losses from any high point for SIVR and EWZ.
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Drawdown Indicators
| SIVR | EWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.85% | -77.25% | +1.40% |
Max Drawdown (1Y)Largest decline over 1 year | -52.27% | -19.27% | -33.00% |
Max Drawdown (3Y)Largest decline over 3 years | -52.27% | -31.36% | -20.91% |
Max Drawdown (5Y)Largest decline over 5 years | -52.27% | -32.24% | -20.03% |
Max Drawdown (10Y)Largest decline over 10 years | -52.27% | -56.99% | +4.72% |
Current DrawdownCurrent decline from peak | -50.35% | -18.89% | -31.46% |
Average DrawdownAverage peak-to-trough decline | -47.84% | -35.86% | -11.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.28% | 7.86% | +19.42% |
Volatility
SIVR vs. EWZ - Volatility Comparison
abrdn Physical Silver Shares ETF (SIVR) has a higher volatility of 11.28% compared to iShares MSCI Brazil ETF (EWZ) at 6.69%. This indicates that SIVR's price experiences larger fluctuations and is considered to be riskier than EWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIVR | EWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.28% | 6.69% | +4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 55.47% | 19.32% | +36.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.33% | 25.12% | +36.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.00% | 27.46% | +9.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.26% | 33.90% | -1.64% |
SIVR vs. EWZ - Expense Ratio Comparison
SIVR has a 0.30% expense ratio, which is lower than EWZ's 0.59% expense ratio.
Dividends
SIVR vs. EWZ - Dividend Comparison
SIVR has not paid dividends to shareholders, while EWZ's dividend yield for the trailing twelve months is around 3.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 3.99% | 5.19% | 8.91% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% |
SIVR abrdn Physical Silver Shares ETF | 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
SIVR and EWZ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIVR has higher volatility (11.28%) compared to EWZ (6.69%). In terms of maximum drawdown, SIVR dropped -75.85% vs EWZ's -77.25%.
On 10-year performance, SIVR leads with 10.56% vs 6.64% for EWZ. On fees, SIVR is cheaper at 0.30% per year. On volatility, EWZ has been the lower-risk option at 6.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SIVR has performed better with a 10.56% return vs 6.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIVR is cheaper with a 0.30% expense ratio, compared with 0.59% for EWZ.
EWZ has the higher dividend yield at 3.99%, compared with 0.00% for SIVR.
SIVR is categorized as Silver, while EWZ is Latin America Equities. SIVR tracks LBMA Silver Price ($/ozt), while EWZ tracks MSCI Brazil 25/50 Index. They also come from different issuers: abrdn and iShares. Their fees differ too: 0.30% for SIVR and 0.59% for EWZ.
EWZ currently has the higher Sharpe Ratio (1.77 vs 0.94), 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.
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