SIVR vs. SLV

Last updated Jun 3, 2026

SIVR (abrdn Physical Silver Shares ETF) and SLV (iShares Silver Trust) are both Silver funds - SIVR tracks the LBMA Silver Price ($/ozt) while SLV tracks the LBMA Silver Price. Both are passively managed. Over the past 10 years, SIVR returned 16.08%/yr vs 15.85%/yr for SLV. With a 1.00 correlation, they move nearly in lockstep. SIVR charges 0.30%/yr vs 0.50%/yr for SLV.

Performance

SIVR vs. SLV - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with SIVR having a 5.62% return and SLV slightly lower at 5.54%. Both investments have delivered pretty close results over the past 10 years, with SIVR having a 16.08% annualized return and SLV not far behind at 15.85%.

SIVR

• 1D: 0.48%
• 1M: -0.39%
• YTD: 5.62%
• 6M: 28.07%
• 1Y: 115.70%
• 3Y*: 46.67%
• 5Y*: 21.96%
• 10Y*: 16.08%

SLV

• 1D: 0.47%
• 1M: -0.44%
• YTD: 5.54%
• 6M: 27.97%
• 1Y: 115.23%
• 3Y*: 46.35%
• 5Y*: 21.71%
• 10Y*: 15.85%

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

SIVR vs. SLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIVR abrdn Physical Silver Shares ETF	5.62%	145.34%	21.08%	-0.91%	2.59%	-12.33%	47.52%	15.17%	-8.96%	5.97%
SLV iShares Silver Trust	5.54%	144.66%	20.89%	-1.09%	2.37%	-12.45%	47.30%	14.88%	-9.19%	5.82%

Correlation

The correlation between SIVR and SLV is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jul 27, 2009	1.00

The correlation between SIVR and SLV has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

SIVR vs. SLV — Risk / Return Rank

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

SIVR

SIVR Risk / Return Rank: 52
SIVR Sharpe Ratio Rank: 58
SIVR Sortino Ratio Rank: 42
SIVR Omega Ratio Rank: 59
SIVR Calmar Ratio Rank: 60
SIVR Martin Ratio Rank: 41

SLV

SLV Risk / Return Rank: 52
SLV Sharpe Ratio Rank: 57
SLV Sortino Ratio Rank: 42
SLV Omega Ratio Rank: 59
SLV Calmar Ratio Rank: 59
SLV Martin Ratio Rank: 41

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. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) and iShares Silver Trust (SLV). 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	SLV	Difference
Sharpe ratio Return per unit of total volatility	1.98	1.97	+0.01
Sortino ratio Return per unit of downside risk	2.12	2.12	+0.01
Omega ratio Gain probability vs. loss probability	1.36	1.36	0.00
Calmar ratio Return relative to maximum drawdown	3.00	2.98	+0.01
Martin ratio Return relative to average drawdown	6.52	6.48	+0.04
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. SLV - Sharpe Ratio Comparison

The current SIVR Sharpe Ratio is 1.98, which is comparable to the SLV Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of SIVR and SLV, 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	SLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	1.97	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.60	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.50	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.25	+0.07

Drawdowns

SIVR vs. SLV - Drawdown Comparison

The maximum SIVR drawdown since its inception was -75.85%, roughly equal to the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for SIVR and SLV.

Drawdown Indicators

	SIVR	SLV	Difference
Max Drawdown Largest peak-to-trough decline	-75.85%	-76.28%	+0.43%
Max Drawdown (1Y) Largest decline over 1 year	-42.42%	-42.45%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-42.42%	-42.45%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-42.42%	-42.45%	+0.03%
Max Drawdown (10Y) Largest decline over 10 years	-42.42%	-42.81%	+0.39%
Current Drawdown Current decline from peak	-35.56%	-35.62%	+0.06%
Average Drawdown Average peak-to-trough decline	-47.86%	-44.67%	-3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.50%	19.53%	-0.03%

Volatility

SIVR vs. SLV - Volatility Comparison

abrdn Physical Silver Shares ETF (SIVR) and iShares Silver Trust (SLV) have volatilities of 16.44% and 16.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIVR	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.44%	16.47%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	58.28%	58.29%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	58.97%	59.03%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.17%	36.15%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.86%	31.83%	+0.03%

SIVR vs. SLV - Expense Ratio Comparison

SIVR has a 0.30% expense ratio, which is lower than SLV's 0.50% expense ratio.

Dividends

SIVR vs. SLV - Dividend Comparison

Neither SIVR nor SLV has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SIVR and SLV in my portfolio?

With a correlation of 1.00, SIVR and SLV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SIVR or SLV?

SLV has higher volatility (16.47%) compared to SIVR (16.44%). In terms of maximum drawdown, SIVR dropped -75.85% vs SLV's -76.28%.

Which ETF is better, SIVR or SLV?

On 10-year performance, SIVR leads with 16.08% vs 15.85% for SLV. On fees, SIVR is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIVR or SLV?

Over the 10-year period, SIVR has performed better with a 16.08% return vs 15.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIVR or SLV?

SIVR is cheaper with a 0.30% expense ratio, compared with 0.50% for SLV.

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

SIVR and SLV have nearly identical dividend yields, around 0.00%.

What is the main difference between SIVR and SLV?

SIVR tracks LBMA Silver Price ($/ozt), while SLV tracks LBMA Silver Price. They also come from different issuers: abrdn and iShares. Their fees differ too: 0.30% for SIVR and 0.50% for SLV.

Which has better risk-adjusted returns?

SIVR currently has the higher Sharpe Ratio (1.98 vs 1.97), 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.