SIVR vs. GBUG

Last updated Aug 4, 2026

SIVR (abrdn Physical Silver Shares ETF) and GBUG (Sprott Active Gold & Silver Miners ETF) are both exchange-traded funds - SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt), while GBUG is a Gold fund actively managed by Sprott. SIVR is passively managed, while GBUG is actively managed. Over the past year, SIVR returned 56.49% vs 63.98% for GBUG. Their 0.77 correlation means they have sometimes moved together and sometimes differently. SIVR charges 0.30%/yr vs 0.89%/yr for GBUG.

Performance

SIVR vs. GBUG - Performance Comparison

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

Returns By Period

In the year-to-date period, SIVR achieves a -18.49% return, which is significantly lower than GBUG's -9.01% return.

SIVR

• 1D: 0.15%
• 1M: -4.65%
• 6M: -27.56%
• YTD: -18.49%
• 1Y: 56.49%
• 3Y*: 34.54%
• 5Y*: 17.62%
• 10Y*: 11.07%
• ALL TIME*: 8.45%

GBUG

• 1D: 2.73%
• 1M: -2.47%
• 6M: -14.97%
• YTD: -9.01%
• 1Y: 63.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 62.67%

*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)
GBUG Sprott Active Gold & Silver Miners ETF	$1.05M	$973.81K	$1.42M
SIVR abrdn Physical Silver Shares ETF	$53.73M	$50.42M	$86.10M

SIVR vs. GBUG - Yearly Performance Comparison

	2026 (YTD)	2025
SIVR abrdn Physical Silver Shares ETF	-18.49%	116.31%
GBUG Sprott Active Gold & Silver Miners ETF	-9.01%	122.37%

Correlation

The correlation between SIVR and GBUG is 0.79, 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.	0.79
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.77

The correlation between SIVR and GBUG has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.

Return for Risk

SIVR vs. GBUG — Risk / Return Rank

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

SIVR

SIVR Risk / Return Rank: 35
SIVR Sharpe Ratio Rank: 37
SIVR Sortino Ratio Rank: 36
SIVR Omega Ratio Rank: 45
SIVR Calmar Ratio Rank: 32
SIVR Martin Ratio Rank: 26

GBUG

GBUG Risk / Return Rank: 44
GBUG Sharpe Ratio Rank: 48
GBUG Sortino Ratio Rank: 44
GBUG Omega Ratio Rank: 47
GBUG Calmar Ratio Rank: 46
GBUG Martin Ratio Rank: 36

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.

SIVR vs. GBUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) and Sprott Active Gold & Silver Miners ETF (GBUG). 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	GBUG	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.25	-0.32
Sortino ratio: Return per unit of downside risk	1.36	1.68	-0.32
Omega ratio: Gain probability vs. loss probability	1.21	1.23	-0.01
Calmar ratio: Return relative to maximum drawdown	1.09	1.72	-0.64
Martin ratio: Return relative to average drawdown	2.06	3.60	-1.53

SIVR vs. GBUG - Sharpe Ratio Comparison

The current SIVR Sharpe Ratio is 0.93, which is comparable to the GBUG Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of SIVR and GBUG, 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

SIVR vs. GBUG - Drawdown Comparison

The maximum SIVR drawdown since its inception was -75.85%, which is greater than GBUG's maximum drawdown of -37.35%. Use the drawdown chart below to compare losses from any high point for SIVR and GBUG.

Drawdown Indicators

	SIVR	GBUG	Difference
Max Drawdown Largest peak-to-trough decline	-75.85%	-37.35%	-38.50%
Max Drawdown (1Y) Largest decline over 1 year	-52.27%	-37.35%	-14.92%
Max Drawdown (3Y) Largest decline over 3 years	-52.27%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-52.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.27%	—	—
Current Drawdown Current decline from peak	-50.28%	-31.67%	-18.61%
Average Drawdown Average peak-to-trough decline	-47.84%	-10.36%	-37.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.46%	17.84%	+9.62%

Volatility

SIVR vs. GBUG - Volatility Comparison

The current volatility for abrdn Physical Silver Shares ETF (SIVR) is 10.92%, while Sprott Active Gold & Silver Miners ETF (GBUG) has a volatility of 13.82%. This indicates that SIVR experiences smaller price fluctuations and is considered to be less risky than GBUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIVR	GBUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.92%	13.82%	-2.90%
Volatility (6M) Calculated over the trailing 6-month period	44.35%	40.17%	+4.18%
Volatility (1Y) Calculated over the trailing 1-year period	61.45%	51.59%	+9.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.01%	48.39%	-11.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.27%	48.39%	-16.12%

SIVR vs. GBUG - Expense Ratio Comparison

SIVR has a 0.30% expense ratio, which is lower than GBUG's 0.89% expense ratio.

Dividends

SIVR vs. GBUG - Dividend Comparison

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

Position	TTM	2025
GBUG Sprott Active Gold & Silver Miners ETF	1.71%	1.56%
SIVR abrdn Physical Silver Shares ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIVR and GBUG in my portfolio?

SIVR and GBUG have a correlation of 0.79, 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 GBUG?

GBUG has higher volatility (13.82%) compared to SIVR (10.92%). In terms of maximum drawdown, SIVR dropped -75.85% vs GBUG's -37.35%.

Which ETF is better, SIVR or GBUG?

On 1-year performance, GBUG leads with 63.98% vs 56.49% for SIVR. On fees, SIVR is cheaper at 0.30% per year. On volatility, SIVR has been the lower-risk option at 10.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIVR or GBUG?

Over the 1-year period, GBUG has performed better with a 63.98% return vs 56.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIVR or GBUG?

SIVR is cheaper with a 0.30% expense ratio, compared with 0.89% for GBUG.

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

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

What is the main difference between SIVR and GBUG?

SIVR is categorized as Silver, while GBUG is Gold. They also come from different issuers: abrdn and Sprott. Their fees differ too: 0.30% for SIVR and 0.89% for GBUG.

Which has better risk-adjusted returns?

GBUG currently has the higher Sharpe Ratio (1.25 vs 0.93), 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.