SIVR vs. ION
SIVR (abrdn Physical Silver Shares ETF) and ION (Proshares S&P Global Core Battery Metals ETF) are both exchange-traded funds - SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt), while ION is a Lithium & Battery Metals fund tracking the S&P Global Core Battery Metals Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, SIVR returned 37.03%/yr vs 13.08%/yr for ION. At a 0.48 correlation, their price movements are largely independent. SIVR charges 0.30%/yr vs 0.58%/yr for ION.
Performance
SIVR vs. ION - Performance Comparison
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Returns By Period
In the year-to-date period, SIVR achieves a -16.88% return, which is significantly lower than ION's -1.19% return.
SIVR
- 1D
- 1.59%
- 1M
- -21.69%
- YTD
- -16.88%
- 6M
- -22.35%
- 1Y
- 63.38%
- 3Y*
- 37.03%
- 5Y*
- 17.50%
- 10Y*
- 11.29%
ION
- 1D
- 1.88%
- 1M
- -15.33%
- YTD
- -1.19%
- 6M
- -1.36%
- 1Y
- 78.17%
- 3Y*
- 13.08%
- 5Y*
- —
- 10Y*
- —
SIVR vs. ION - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SIVR abrdn Physical Silver Shares ETF | -16.88% | 145.34% | 21.08% | -0.91% | 7.84% |
ION Proshares S&P Global Core Battery Metals ETF | -1.19% | 108.37% | -20.02% | -14.10% | -8.45% |
Correlation
The correlation between SIVR and ION is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2022 | 0.48 |
The correlation between SIVR and ION has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.
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Return for Risk
SIVR vs. ION — Risk / Return Rank
SIVR
ION
SIVR vs. ION - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) and Proshares S&P Global Core Battery Metals ETF (ION). 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 | ION | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.31 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 2.93 | -1.68 |
| Martin ratioReturn relative to average drawdown | 2.77 | 9.15 | -6.39 |
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Drawdowns
SIVR vs. ION - Drawdown Comparison
The maximum SIVR drawdown since its inception was -75.85%, which is greater than ION's maximum drawdown of -52.08%. Use the drawdown chart below to compare losses from any high point for SIVR and ION.
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Drawdown Indicators
| SIVR | ION | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.85% | -52.08% | -23.77% |
Max Drawdown (1Y)Largest decline over 1 year | -50.92% | -26.85% | -24.07% |
Max Drawdown (3Y)Largest decline over 3 years | -50.92% | -46.47% | -4.45% |
Max Drawdown (5Y)Largest decline over 5 years | -50.92% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -50.92% | — | — |
Current DrawdownCurrent decline from peak | -49.29% | -25.47% | -23.82% |
Average DrawdownAverage peak-to-trough decline | -47.83% | -23.60% | -24.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.98% | 8.57% | +14.41% |
Volatility
SIVR vs. ION - Volatility Comparison
abrdn Physical Silver Shares ETF (SIVR) has a higher volatility of 15.69% compared to Proshares S&P Global Core Battery Metals ETF (ION) at 13.79%. This indicates that SIVR's price experiences larger fluctuations and is considered to be riskier than ION based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIVR | ION | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.69% | 13.79% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 58.87% | 32.01% | +26.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.71% | 39.57% | +21.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.77% | 31.57% | +5.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.16% | 31.57% | +0.59% |
SIVR vs. ION - Expense Ratio Comparison
SIVR has a 0.30% expense ratio, which is lower than ION's 0.58% expense ratio.
Dividends
SIVR vs. ION - Dividend Comparison
SIVR has not paid dividends to shareholders, while ION's dividend yield for the trailing twelve months is around 1.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ION Proshares S&P Global Core Battery Metals ETF | 1.50% | 1.63% | 1.74% | 2.23% | 0.13% |
SIVR abrdn Physical Silver Shares ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SIVR and ION have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIVR has higher volatility (15.69%) compared to ION (13.79%). In terms of maximum drawdown, SIVR dropped -75.85% vs ION's -52.08%.
On 3-year performance, SIVR leads with 37.03% vs 13.08% for ION. On fees, SIVR is cheaper at 0.30% per year. On volatility, ION has been the lower-risk option at 13.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SIVR has performed better with a 37.03% return vs 13.08%. 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 0.58% for ION.
ION has the higher dividend yield at 1.50%, compared with 0.00% for SIVR.
SIVR is categorized as Silver, while ION is Lithium & Battery Metals. SIVR tracks LBMA Silver Price ($/ozt), while ION tracks S&P Global Core Battery Metals Index - Benchmark TR Net. They also come from different issuers: abrdn and ProShares. Their fees differ too: 0.30% for SIVR and 0.58% for ION.
ION currently has the higher Sharpe Ratio (1.99 vs 1.05), 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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