SIVR vs. ZSL
SIVR (abrdn Physical Silver Shares ETF) and ZSL (ProShares UltraShort Silver) are both Silver funds - SIVR tracks the LBMA Silver Price ($/ozt) while ZSL tracks the Bloomberg Silver Subindex (-2x). Both are passively managed. Over the past 10 years, SIVR returned 15.77%/yr vs -43.74%/yr for ZSL. At a correlation of -0.99, they often move in opposite directions. SIVR charges 0.30%/yr vs 1.32%/yr for ZSL.
Performance
SIVR vs. ZSL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SIVR achieves a 2.85% return, which is significantly higher than ZSL's -59.81% return. Over the past 10 years, SIVR has outperformed ZSL with an annualized return of 15.77%, while ZSL has yielded a comparatively lower -43.74% annualized return.
SIVR
- 1D
- -2.62%
- 1M
- 0.42%
- YTD
- 2.85%
- 6M
- 24.90%
- 1Y
- 110.95%
- 3Y*
- 45.38%
- 5Y*
- 21.00%
- 10Y*
- 15.77%
ZSL
- 1D
- 5.33%
- 1M
- -6.86%
- YTD
- -59.81%
- 6M
- -75.78%
- 1Y
- -92.31%
- 3Y*
- -69.67%
- 5Y*
- -51.93%
- 10Y*
- -43.74%
SIVR vs. ZSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIVR abrdn Physical Silver Shares ETF | 2.85% | 145.34% | 21.08% | -0.91% | 2.59% | -12.33% | 47.52% | 15.17% | -8.96% | 5.97% |
ZSL ProShares UltraShort Silver | -59.81% | -87.29% | -42.43% | -5.49% | -28.09% | -2.04% | -74.44% | -27.76% | 18.15% | -18.99% |
Correlation
The correlation between SIVR and ZSL is -0.99, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2009 | -0.99 |
The correlation between SIVR and ZSL has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SIVR vs. ZSL — Risk / Return Rank
SIVR
ZSL
SIVR vs. ZSL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) and ProShares UltraShort Silver (ZSL). 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 | ZSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.67 | ||
| Sortino ratioReturn per unit of downside risk | +4.45 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.74 | +0.61 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | -0.98 | +3.61 |
| Martin ratioReturn relative to average drawdown | 5.67 | -1.35 | +7.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SIVR | ZSL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.90 | -0.77 | +2.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | -0.70 | +1.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | -0.67 | +1.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | -0.67 | +0.99 |
Drawdowns
SIVR vs. ZSL - Drawdown Comparison
The maximum SIVR drawdown since its inception was -75.85%, smaller than the maximum ZSL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SIVR and ZSL.
Loading charts...
Drawdown Indicators
| SIVR | ZSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.85% | -100.00% | +24.15% |
Max Drawdown (1Y)Largest decline over 1 year | -42.42% | -94.55% | +52.13% |
Max Drawdown (3Y)Largest decline over 3 years | -42.42% | -98.40% | +55.98% |
Max Drawdown (5Y)Largest decline over 5 years | -42.42% | -99.06% | +56.64% |
Max Drawdown (10Y)Largest decline over 10 years | -42.42% | -99.82% | +57.40% |
Current DrawdownCurrent decline from peak | -37.25% | -100.00% | +62.75% |
Average DrawdownAverage peak-to-trough decline | -47.85% | -96.39% | +48.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.64% | 68.23% | -48.59% |
Volatility
SIVR vs. ZSL - Volatility Comparison
The current volatility for abrdn Physical Silver Shares ETF (SIVR) is 16.28%, while ProShares UltraShort Silver (ZSL) has a volatility of 32.31%. This indicates that SIVR experiences smaller price fluctuations and is considered to be less risky than ZSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SIVR | ZSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.28% | 32.31% | -16.03% |
Volatility (6M)Calculated over the trailing 6-month period | 58.30% | 105.86% | -47.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.84% | 119.48% | -60.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.17% | 74.07% | -37.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.87% | 65.20% | -33.33% |
SIVR vs. ZSL - Expense Ratio Comparison
SIVR has a 0.30% expense ratio, which is lower than ZSL's 1.32% expense ratio.
Dividends
SIVR vs. ZSL - Dividend Comparison
Neither SIVR nor ZSL has paid dividends to shareholders.
Frequently Asked Questions
SIVR and ZSL have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZSL has higher volatility (32.31%) compared to SIVR (16.28%). In terms of maximum drawdown, SIVR dropped -75.85% vs ZSL's -100.00%.
On 10-year performance, SIVR leads with 15.77% vs -43.74% for ZSL. On fees, SIVR is cheaper at 0.30% per year. On volatility, SIVR has been the lower-risk option at 16.28%. 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 15.77% return vs -43.74%. 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 1.32% for ZSL.
SIVR and ZSL have nearly identical dividend yields, around 0.00%.
SIVR tracks LBMA Silver Price ($/ozt), while ZSL tracks Bloomberg Silver Subindex (-2x). They also come from different issuers: abrdn and ProShares. Their fees differ too: 0.30% for SIVR and 1.32% for ZSL.
SIVR currently has the higher Sharpe Ratio (1.90 vs -0.77), 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.
Find the right allocation for SIVR and ZSL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer