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SLV vs. FZROX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SLV vs. FZROX

Last updated Jun 13, 2026

SLV (iShares Silver Trust) and FZROX (Fidelity ZERO Total Market Index Fund) are both funds - SLV is a Silver fund tracking the LBMA Silver Price, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, SLV returned 18.83%/yr vs 12.34%/yr for FZROX. At a 0.21 correlation, their price movements are largely independent. SLV charges 0.50%/yr vs 0.00%/yr for FZROX.

Performance

SLV vs. FZROX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Silver Trust (SLV) and Fidelity ZERO Total Market Index Fund (FZROX). 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 FZROX's 9.14% 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%

FZROX

1D
1.90%
1M
0.00%
YTD
9.14%
6M
9.23%
1Y
24.28%
3Y*
20.84%
5Y*
12.34%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SLV vs. FZROX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
SLV
iShares Silver Trust		-4.86%144.66%20.89%-1.09%2.37%-12.45%47.30%14.88%7.00%
FZROX
Fidelity ZERO Total Market Index Fund		9.14%17.23%23.94%26.20%-19.21%26.00%20.51%31.15%-12.72%

Correlation

The correlation between SLV and FZROX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.26

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

0.24

Correlation (All Time)
Calculated using the full available price history since Aug 16, 2018

0.21

Compare stocks, funds, or ETFs

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iShares Silver Trust

Fidelity ZERO Total Market Index Fund

Often compared with SLV:
SLV vs. GLDSLV vs. SIVRSLV vs. PSLVSLV vs. SILSLV vs. SILJSLV vs. SLVPSLV vs. AGQ
Often compared with FZROX:
FZROX vs. FXAIXFZROX vs. VTIFZROX vs. FNILXFZROX vs. FSKAXFZROX vs. FZILXFZROX vs. VOOFZROX vs. SPY

Return for Risk

SLV vs. FZROX — 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
FZROX
FZROX Risk / Return Rank: 7272
Overall Rank
FZROX Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
FZROX Sortino Ratio Rank: 6666
Sortino Ratio Rank
FZROX Omega Ratio Rank: 6666
Omega Ratio Rank
FZROX Calmar Ratio Rank: 7575
Calmar Ratio Rank
FZROX Martin Ratio Rank: 8484
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. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Fidelity ZERO Total Market Index Fund (FZROX). 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.

SLVFZROXDifference
Sharpe ratioReturn per unit of total volatility
1.44
1.94

-0.50

Sortino ratioReturn per unit of downside risk
1.76
2.64

-0.88

Omega ratioGain probability vs. loss probability

1.29

1.35

-0.06

Calmar ratioReturn relative to maximum drawdown

1.89

2.78

-0.89

Martin ratioReturn relative to average drawdown

4.10

12.51

-8.41

SLV vs. FZROX - Sharpe Ratio Comparison

The current SLV Sharpe Ratio is 1.44, which is comparable to the FZROX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of SLV and FZROX, 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. FZROX - Drawdown Comparison

The maximum SLV drawdown since its inception was -76.28%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for SLV and FZROX.

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Drawdown Indicators

SLVFZROXDifference

Max Drawdown

Largest peak-to-trough decline

-76.28%

-34.96%

-41.32%

Max Drawdown (1Y)

Largest decline over 1 year

-45.40%

-8.89%

-36.51%

Max Drawdown (3Y)

Largest decline over 3 years

-45.40%

-19.38%

-26.02%

Max Drawdown (5Y)

Largest decline over 5 years

-45.40%

-25.12%

-20.28%

Max Drawdown (10Y)

Largest decline over 10 years

-45.40%

—

—

Current Drawdown

Current decline from peak

-41.96%

-2.57%

-39.39%

Average Drawdown

Average peak-to-trough decline

-44.66%

-5.50%

-39.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

20.88%

1.97%

+18.91%

Volatility

SLV vs. FZROX - Volatility Comparison

iShares Silver Trust (SLV) has a higher volatility of 16.34% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 4.66%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SLVFZROXDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.34%

4.66%

+11.68%

Volatility (6M)

Calculated over the trailing 6-month period

59.10%

9.98%

+49.12%

Volatility (1Y)

Calculated over the trailing 1-year period

59.82%

12.76%

+47.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.46%

17.51%

+18.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.00%

20.14%

+11.86%

SLV vs. FZROX - Expense Ratio Comparison

SLV has a 0.50% expense ratio, which is higher than FZROX's 0.00% expense ratio.

Dividends

SLV vs. FZROX - Dividend Comparison

SLV has not paid dividends to shareholders, while FZROX's dividend yield for the trailing twelve months is around 0.94%.

PositionTTM2025202420232022202120202019
FZROX
Fidelity ZERO Total Market Index Fund		0.94%1.02%1.16%1.36%1.57%1.25%1.27%1.51%
SLV
iShares Silver Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SLV and FZROX have a correlation of 0.30, 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 FZROX (4.66%). In terms of maximum drawdown, SLV dropped -76.28% vs FZROX's -34.96%.

FZROX currently has the higher Sharpe Ratio (1.94 vs 1.44), 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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