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SLV vs. BNDX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SLV vs. BNDX

Last updated Jun 13, 2026

SLV (iShares Silver Trust) and BNDX (Vanguard Total International Bond ETF) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Both are passively managed. Over the past 10 years, SLV returned 13.99%/yr vs 1.72%/yr for BNDX. At a 0.17 correlation, their price movements are largely independent. SLV charges 0.50%/yr vs 0.07%/yr for BNDX.

Performance

SLV vs. BNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Silver Trust (SLV) and Vanguard Total International Bond ETF (BNDX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SLV achieves a -4.86% return, which is significantly lower than BNDX's 1.02% return. Over the past 10 years, SLV has outperformed BNDX with an annualized return of 13.99%, while BNDX has yielded a comparatively lower 1.72% annualized return.

SLV

1D
0.77%
1M
-22.76%
YTD
-4.86%
6M
9.25%
1Y
85.39%
3Y*
41.27%
5Y*
18.83%
10Y*
13.99%

BNDX

1D
0.17%
1M
0.99%
YTD
1.02%
6M
1.22%
1Y
1.94%
3Y*
4.32%
5Y*
0.32%
10Y*
1.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SLV vs. BNDX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SLV
iShares Silver Trust		-4.86%144.66%20.89%-1.09%2.37%-12.45%47.30%14.88%-9.19%5.82%
BNDX
Vanguard Total International Bond ETF		1.02%2.86%3.57%8.77%-12.76%-2.29%4.65%7.87%2.81%2.40%

Correlation

The correlation between SLV and BNDX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.26

Correlation (3Y)
Calculated over the trailing 3-year period

0.15

Correlation (5Y)
Calculated over the trailing 5-year period

0.20

Correlation (10Y)
Calculated over the trailing 10-year period

0.19

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2013

0.17

The correlation between SLV and BNDX shifts across timeframes, from 0.15 (3 years) to 0.26 (1 year), reflecting how their relationship changes across market environments.

SLV vs. BNDX - Sectors Allocation Comparison

Sectors
SLV
BNDX

Basic Materials

100.0%

-

Communication Services

-

0.0%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

0.0%

Financial Services

-

0.0%

Healthcare

-

0.0%

Industrials

-

0.0%

Real Estate

-

0.0%

Technology

-

-

Utilities

-

0.0%

Basic Materials

SLV
100.0%
BNDX

-

Communication Services

SLV

-

BNDX
0.0%

Consumer Cyclical

SLV

-

BNDX

-

Consumer Defensive

SLV

-

BNDX

-

Energy

SLV

-

BNDX
0.0%

Financial Services

SLV

-

BNDX
0.0%

Healthcare

SLV

-

BNDX
0.0%

Industrials

SLV

-

BNDX
0.0%

Real Estate

SLV

-

BNDX
0.0%

Technology

SLV

-

BNDX

-

Utilities

SLV

-

BNDX
0.0%

Compare stocks, funds, or ETFs

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iShares Silver Trust

Vanguard Total International Bond ETF

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Often compared with BNDX:
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Return for Risk

SLV vs. BNDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SLV
SLV Risk / Return Rank: 4242
Overall Rank
SLV Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SLV Sortino Ratio Rank: 3838
Sortino Ratio Rank
SLV Omega Ratio Rank: 5353
Omega Ratio Rank
SLV Calmar Ratio Rank: 4343
Calmar Ratio Rank
SLV Martin Ratio Rank: 3232
Martin Ratio Rank
BNDX
BNDX Risk / Return Rank: 1818
Overall Rank
BNDX Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
BNDX Sortino Ratio Rank: 1818
Sortino Ratio Rank
BNDX Omega Ratio Rank: 1818
Omega Ratio Rank
BNDX Calmar Ratio Rank: 1818
Calmar Ratio Rank
BNDX Martin Ratio Rank: 1919
Martin Ratio Rank
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.

SLV vs. BNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Vanguard Total International Bond ETF (BNDX). 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.

SLVBNDXDifference
Sharpe ratioReturn per unit of total volatility
1.44
0.56

+0.87

Sortino ratioReturn per unit of downside risk
1.76
0.82

+0.94

Omega ratioGain probability vs. loss probability

1.29

1.10

+0.19

Calmar ratioReturn relative to maximum drawdown

1.89

0.66

+1.23

Martin ratioReturn relative to average drawdown

4.10

1.84

+2.26

SLV vs. BNDX - Sharpe Ratio Comparison

The current SLV Sharpe Ratio is 1.44, which is higher than the BNDX Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of SLV and BNDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SLV vs. BNDX - Drawdown Comparison

The maximum SLV drawdown since its inception was -76.28%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for SLV and BNDX.

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Drawdown Indicators

SLVBNDXDifference

Max Drawdown

Largest peak-to-trough decline

-76.28%

-16.23%

-60.05%

Max Drawdown (1Y)

Largest decline over 1 year

-45.40%

-2.93%

-42.47%

Max Drawdown (3Y)

Largest decline over 3 years

-45.40%

-2.93%

-42.47%

Max Drawdown (5Y)

Largest decline over 5 years

-45.40%

-15.86%

-29.54%

Max Drawdown (10Y)

Largest decline over 10 years

-45.40%

-16.23%

-29.17%

Current Drawdown

Current decline from peak

-41.96%

-1.02%

-40.94%

Average Drawdown

Average peak-to-trough decline

-44.66%

-3.10%

-41.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

20.88%

1.05%

+19.83%

Volatility

SLV vs. BNDX - Volatility Comparison

iShares Silver Trust (SLV) has a higher volatility of 16.34% compared to Vanguard Total International Bond ETF (BNDX) at 1.49%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SLVBNDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.34%

1.49%

+14.85%

Volatility (6M)

Calculated over the trailing 6-month period

59.10%

2.96%

+56.14%

Volatility (1Y)

Calculated over the trailing 1-year period

59.82%

3.47%

+56.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.46%

4.89%

+31.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.00%

4.10%

+27.90%

SLV vs. BNDX - Expense Ratio Comparison

SLV has a 0.50% expense ratio, which is higher than BNDX's 0.07% expense ratio.

Dividends

SLV vs. BNDX - Dividend Comparison

SLV has not paid dividends to shareholders, while BNDX's dividend yield for the trailing twelve months is around 4.47%.

PositionTTM20252024202320222021202020192018201720162015
BNDX
Vanguard Total International Bond ETF		4.47%4.39%4.18%4.42%1.51%3.74%1.11%3.40%3.01%2.23%1.89%1.63%
SLV
iShares Silver Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SLV and BNDX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SLV has higher volatility (16.34%) compared to BNDX (1.49%). In terms of maximum drawdown, SLV dropped -76.28% vs BNDX's -16.23%.

On 10-year performance, SLV leads with 13.99% vs 1.72% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SLV has performed better with a 13.99% return vs 1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BNDX is cheaper with a 0.07% expense ratio, compared with 0.50% for SLV.

BNDX has the higher dividend yield at 4.47%, compared with 0.00% for SLV.

SLV is categorized as Silver, while BNDX is Global Bonds. SLV tracks LBMA Silver Price, while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for SLV and 0.07% for BNDX.

SLV currently has the higher Sharpe Ratio (1.44 vs 0.56), 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.

Portfolio Optimizer

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