SIVR vs. SBT.TO

Last updated Jul 1, 2026

SIVR (abrdn Physical Silver Shares ETF) and SBT.TO (Purpose Silver Bullion Fund) are both Silver funds - SIVR tracks the LBMA Silver Price ($/ozt) while SBT.TO tracks the LBMA Silver Price. Both are passively managed. Over the past 10 years, SIVR returned 11.29%/yr vs 10.22%/yr for SBT.TO. At a 0.38 correlation, their price movements are largely independent. SIVR charges 0.30%/yr vs 0.36%/yr for SBT.TO.

Performance

SIVR vs. SBT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Silver Shares ETF (SIVR) and Purpose Silver Bullion Fund (SBT.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SIVR is traded in USD, while SBT.TO is traded in CAD. To make them comparable, the SBT.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SIVR achieves a -16.88% return, which is significantly higher than SBT.TO's -21.60% return. Over the past 10 years, SIVR has outperformed SBT.TO with an annualized return of 11.29%, while SBT.TO has yielded a comparatively lower 10.22% annualized 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%

SBT.TO

• 1D: 2.00%
• 1M: -24.94%
• YTD: -21.60%
• 6M: -26.77%
• 1Y: 51.35%
• 3Y*: 31.34%
• 5Y*: 12.23%
• 10Y*: 10.22%

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

SIVR vs. SBT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIVR abrdn Physical Silver Shares ETF	-16.88%	145.34%	21.08%	-0.91%	2.59%	-12.33%	47.52%	15.17%	-8.96%	5.97%
SBT.TO Purpose Silver Bullion Fund	-21.60%	148.41%	9.30%	1.56%	-4.09%	-13.14%	51.61%	18.18%	-19.58%	-11.05%

Correlation

The correlation between SIVR and SBT.TO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 27, 2016	0.38

Over the past year, SIVR and SBT.TO have become more correlated (0.86) than their long-term average of 0.38, meaning their price movements have been converging.

Return for Risk

SIVR vs. SBT.TO — Risk / Return Rank

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

SIVR

SIVR Risk / Return Rank: 30
SIVR Sharpe Ratio Rank: 32
SIVR Sortino Ratio Rank: 29
SIVR Omega Ratio Rank: 40
SIVR Calmar Ratio Rank: 27
SIVR Martin Ratio Rank: 23

SBT.TO

SBT.TO Risk / Return Rank: 28
SBT.TO Sharpe Ratio Rank: 28
SBT.TO Sortino Ratio Rank: 27
SBT.TO Omega Ratio Rank: 36
SBT.TO Calmar Ratio Rank: 25
SBT.TO Martin Ratio Rank: 22

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. SBT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) and Purpose Silver Bullion Fund (SBT.TO). 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	SBT.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.05	0.83	+0.21
Sortino ratio: Return per unit of downside risk	1.46	1.30	+0.16
Omega ratio: Gain probability vs. loss probability	1.24	1.20	+0.03
Calmar ratio: Return relative to maximum drawdown	1.25	0.94	+0.31
Martin ratio: Return relative to average drawdown	2.77	2.13	+0.63

SIVR vs. SBT.TO - Sharpe Ratio Comparison

The current SIVR Sharpe Ratio is 1.05, which is comparable to the SBT.TO Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of SIVR and SBT.TO, 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. SBT.TO - Drawdown Comparison

The maximum SIVR drawdown since its inception was -75.85%, which is greater than SBT.TO's maximum drawdown of -54.64%. Use the drawdown chart below to compare losses from any high point for SIVR and SBT.TO.

Drawdown Indicators

	SIVR	SBT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-75.85%	-54.64%	-21.21%
Max Drawdown (1Y) Largest decline over 1 year	-50.92%	-54.64%	+3.72%
Max Drawdown (3Y) Largest decline over 3 years	-50.92%	-54.64%	+3.72%
Max Drawdown (5Y) Largest decline over 5 years	-50.92%	-54.64%	+3.72%
Max Drawdown (10Y) Largest decline over 10 years	-50.92%	-54.64%	+3.72%
Current Drawdown Current decline from peak	-49.29%	-52.60%	+3.31%
Average Drawdown Average peak-to-trough decline	-47.83%	-18.57%	-29.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.98%	24.14%	-1.16%

Volatility

SIVR vs. SBT.TO - Volatility Comparison

The current volatility for abrdn Physical Silver Shares ETF (SIVR) is 15.69%, while Purpose Silver Bullion Fund (SBT.TO) has a volatility of 17.05%. This indicates that SIVR experiences smaller price fluctuations and is considered to be less risky than SBT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIVR	SBT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.69%	17.05%	-1.36%
Volatility (6M) Calculated over the trailing 6-month period	58.87%	59.85%	-0.98%
Volatility (1Y) Calculated over the trailing 1-year period	60.71%	61.81%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.77%	39.19%	-2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.16%	68.11%	-35.95%

SIVR vs. SBT.TO - Expense Ratio Comparison

SIVR has a 0.30% expense ratio, which is lower than SBT.TO's 0.36% expense ratio.

Dividends

SIVR vs. SBT.TO - Dividend Comparison

Neither SIVR nor SBT.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SIVR and SBT.TO in my portfolio?

SIVR and SBT.TO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SIVR or SBT.TO?

On fees, SIVR is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SIVR or SBT.TO?

SIVR is cheaper with a 0.30% expense ratio, compared with 0.36% for SBT.TO.

What is the main difference between SIVR and SBT.TO?

SIVR tracks LBMA Silver Price ($/ozt), while SBT.TO tracks LBMA Silver Price. They also come from different issuers: abrdn and Purpose Investments. Their fees differ too: 0.30% for SIVR and 0.36% for SBT.TO.