SLV vs. GDE

Last updated Jun 13, 2026

SLV (iShares Silver Trust) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while GDE is a Gold fund actively managed by WisdomTree. SLV is passively managed, while GDE is actively managed. Over the past 3 years, SLV returned 41.27%/yr vs 42.64%/yr for GDE. A 0.65 correlation means they provide meaningful diversification when combined. SLV charges 0.50%/yr vs 0.20%/yr for GDE.

Performance

SLV vs. GDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Silver Trust (SLV) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLV achieves a -4.86% return, which is significantly lower than GDE's 3.16% 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%

GDE

• 1D: 0.67%
• 1M: -9.19%
• YTD: 3.16%
• 6M: 4.00%
• 1Y: 41.34%
• 3Y*: 42.64%
• 5Y*: —
• 10Y*: —

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

SLV vs. GDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SLV iShares Silver Trust	-4.86%	144.66%	20.89%	-1.09%	-4.72%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	3.16%	73.76%	44.79%	33.85%	-8.58%

Correlation

The correlation between SLV and GDE is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	0.65

The correlation between SLV and GDE has been stable across timeframes, ranging from 0.65 to 0.72 - a consistent structural relationship.

SLV vs. GDE - Sectors Allocation Comparison

Sectors	SLV	GDE
Basic Materials	100.0%	1.4%
Communication Services	-	12.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	5.5%
Energy	-	3.4%
Financial Services	-	12.2%
Healthcare	-	8.3%
Industrials	-	7.6%
Real Estate	-	1.6%
Technology	-	35.6%
Utilities	-	2.1%

Return for Risk

SLV vs. GDE — Risk / Return Rank

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

SLV

SLV Risk / Return Rank: 42
SLV Sharpe Ratio Rank: 47
SLV Sortino Ratio Rank: 38
SLV Omega Ratio Rank: 53
SLV Calmar Ratio Rank: 43
SLV Martin Ratio Rank: 32

GDE

GDE Risk / Return Rank: 42
GDE Sharpe Ratio Rank: 45
GDE Sortino Ratio Rank: 39
GDE Omega Ratio Rank: 46
GDE Calmar Ratio Rank: 41
GDE Martin Ratio Rank: 38

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. GDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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.

	SLV	GDE	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.39	+0.04
Sortino ratio: Return per unit of downside risk	1.76	1.81	-0.05
Omega ratio: Gain probability vs. loss probability	1.29	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	1.89	1.83	+0.06
Martin ratio: Return relative to average drawdown	4.10	5.36	-1.26

SLV vs. GDE - Sharpe Ratio Comparison

The current SLV Sharpe Ratio is 1.44, which is comparable to the GDE Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of SLV and GDE, 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

SLV vs. GDE - Drawdown Comparison

The maximum SLV drawdown since its inception was -76.28%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for SLV and GDE.

Drawdown Indicators

	SLV	GDE	Difference
Max Drawdown Largest peak-to-trough decline	-76.28%	-32.01%	-44.27%
Max Drawdown (1Y) Largest decline over 1 year	-45.40%	-22.66%	-22.74%
Max Drawdown (3Y) Largest decline over 3 years	-45.40%	-22.66%	-22.74%
Max Drawdown (5Y) Largest decline over 5 years	-45.40%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.40%	—	—
Current Drawdown Current decline from peak	-41.96%	-16.53%	-25.43%
Average Drawdown Average peak-to-trough decline	-44.66%	-7.93%	-36.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.88%	7.73%	+13.15%

Volatility

SLV vs. GDE - Volatility Comparison

iShares Silver Trust (SLV) has a higher volatility of 16.34% compared to WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) at 10.77%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLV	GDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.34%	10.77%	+5.57%
Volatility (6M) Calculated over the trailing 6-month period	59.10%	25.97%	+33.13%
Volatility (1Y) Calculated over the trailing 1-year period	59.82%	29.88%	+29.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.46%	27.09%	+9.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.00%	27.09%	+4.91%

SLV vs. GDE - Expense Ratio Comparison

SLV has a 0.50% expense ratio, which is higher than GDE's 0.20% expense ratio.

Dividends

SLV vs. GDE - Dividend Comparison

SLV has not paid dividends to shareholders, while GDE's dividend yield for the trailing twelve months is around 4.19%.

Position	TTM	2025	2024	2023	2022
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	4.19%	4.32%	7.14%	2.22%	0.81%
SLV iShares Silver Trust	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SLV and GDE in my portfolio?

SLV and GDE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLV or GDE?

SLV has higher volatility (16.34%) compared to GDE (10.77%). In terms of maximum drawdown, SLV dropped -76.28% vs GDE's -32.01%.

Which ETF is better, SLV or GDE?

On 3-year performance, GDE leads with 42.64% vs 41.27% for SLV. On fees, GDE is cheaper at 0.20% per year. On volatility, GDE has been the lower-risk option at 10.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLV or GDE?

Over the 3-year period, GDE has performed better with a 42.64% return vs 41.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLV or GDE?

GDE is cheaper with a 0.20% expense ratio, compared with 0.50% for SLV.

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

GDE has the higher dividend yield at 4.19%, compared with 0.00% for SLV.

What is the main difference between SLV and GDE?

SLV is categorized as Silver, while GDE is Gold. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.50% for SLV and 0.20% for GDE.

Which has better risk-adjusted returns?

SLV currently has the higher Sharpe Ratio (1.44 vs 1.39), 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.