SLV vs. GOLD

Last updated Jun 9, 2026

SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price, while GOLD (Barrick Mining Corporation) is a stock. At a 0.42 correlation, their price movements are largely independent.

Performance

SLV vs. GOLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Silver Trust (SLV) and Barrick Mining Corporation (GOLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLV achieves a -4.41% return, which is significantly lower than GOLD's 19.84% return.

SLV

• 1D: 0.02%
• 1M: -15.66%
• YTD: -4.41%
• 6M: 16.83%
• 1Y: 88.38%
• 3Y*: 40.36%
• 5Y*: 19.02%
• 10Y*: 14.08%

GOLD

• 1D: 2.12%
• 1M: -10.41%
• YTD: 19.84%
• 6M: 34.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLV vs. GOLD - Yearly Performance Comparison

	2026 (YTD)	2025
SLV iShares Silver Trust	-4.41%	22.66%
GOLD Barrick Mining Corporation	19.84%	13.01%

Correlation

The correlation between SLV and GOLD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 2, 2025	0.42

Return for Risk

SLV vs. GOLD — Risk / Return Rank

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

SLV

SLV Risk / Return Rank: 43
SLV Sharpe Ratio Rank: 47
SLV Sortino Ratio Rank: 38
SLV Omega Ratio Rank: 54
SLV Calmar Ratio Rank: 47
SLV Martin Ratio Rank: 32

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. GOLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Barrick Mining Corporation (GOLD). 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.

	SLV	GOLD	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	1.80	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.09	—	—
Martin ratio: Return relative to average drawdown	4.40	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SLV	GOLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.47	-1.24

Drawdowns

SLV vs. GOLD - Drawdown Comparison

The maximum SLV drawdown since its inception was -76.28%, which is greater than GOLD's maximum drawdown of -40.58%. Use the drawdown chart below to compare losses from any high point for SLV and GOLD.

Drawdown Indicators

	SLV	GOLD	Difference
Max Drawdown Largest peak-to-trough decline	-76.28%	-40.58%	-35.70%
Max Drawdown (1Y) Largest decline over 1 year	-42.45%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-42.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.45%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.81%	—	—
Current Drawdown Current decline from peak	-41.69%	-36.38%	-5.31%
Average Drawdown Average peak-to-trough decline	-44.67%	-17.71%	-26.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.15%	—	—

Volatility

Volatility by Period

	SLV	GOLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	58.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	59.53%	58.70%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.33%	58.70%	-22.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.92%	58.70%	-26.78%

Dividends

SLV vs. GOLD - Dividend Comparison

SLV has not paid dividends to shareholders, while GOLD's dividend yield for the trailing twelve months is around 0.99%.

Position	TTM
GOLD Barrick Mining Corporation	0.99%
SLV iShares Silver Trust	0.00%

Frequently Asked Questions

Can I hold both SLV and GOLD in my portfolio?

SLV and GOLD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.