SLV vs. IEI
SLV (iShares Silver Trust) and IEI (iShares 3-7 Year Treasury Bond ETF) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while IEI is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index. Both are passively managed. Over the past 10 years, SLV returned 13.99%/yr vs 1.24%/yr for IEI. At a 0.12 correlation, their price movements are largely independent. SLV charges 0.50%/yr vs 0.15%/yr for IEI.
Performance
SLV vs. IEI - Performance Comparison
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Returns By Period
In the year-to-date period, SLV achieves a -4.86% return, which is significantly lower than IEI's -0.30% return. Over the past 10 years, SLV has outperformed IEI with an annualized return of 13.99%, while IEI has yielded a comparatively lower 1.24% 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%
IEI
- 1D
- -0.12%
- 1M
- -0.00%
- YTD
- -0.30%
- 6M
- -0.00%
- 1Y
- 2.97%
- 3Y*
- 3.77%
- 5Y*
- 0.21%
- 10Y*
- 1.24%
SLV vs. IEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | -4.86% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
IEI iShares 3-7 Year Treasury Bond ETF | -0.30% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
Correlation
The correlation between SLV and IEI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2007 | 0.12 |
The correlation between SLV and IEI shifts across timeframes, from 0.12 (all time) to 0.24 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SLV vs. IEI — Risk / Return Rank
SLV
IEI
SLV vs. IEI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and iShares 3-7 Year Treasury Bond ETF (IEI). 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 | IEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.17 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.19 | +0.70 |
| Martin ratioReturn relative to average drawdown | 4.10 | 3.35 | +0.75 |
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Drawdowns
SLV vs. IEI - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for SLV and IEI.
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Drawdown Indicators
| SLV | IEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -14.60% | -61.68% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -2.50% | -42.90% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -3.66% | -41.74% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | -13.88% | -31.52% |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | -14.60% | -30.80% |
Current DrawdownCurrent decline from peak | -41.96% | -1.74% | -40.22% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -2.67% | -41.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.88% | 0.89% | +19.99% |
Volatility
SLV vs. IEI - Volatility Comparison
iShares Silver Trust (SLV) has a higher volatility of 16.34% compared to iShares 3-7 Year Treasury Bond ETF (IEI) at 0.98%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | IEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.34% | 0.98% | +15.36% |
Volatility (6M)Calculated over the trailing 6-month period | 59.10% | 2.18% | +56.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.82% | 3.00% | +56.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.46% | 4.78% | +31.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 3.93% | +28.07% |
SLV vs. IEI - Expense Ratio Comparison
SLV has a 0.50% expense ratio, which is higher than IEI's 0.15% expense ratio.
Dividends
SLV vs. IEI - Dividend Comparison
SLV has not paid dividends to shareholders, while IEI's dividend yield for the trailing twelve months is around 3.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
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 IEI have a correlation of 0.20, 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 IEI (0.98%). In terms of maximum drawdown, SLV dropped -76.28% vs IEI's -14.60%.
On 10-year performance, SLV leads with 13.99% vs 1.24% for IEI. On fees, IEI is cheaper at 0.15% per year. On volatility, IEI has been the lower-risk option at 0.98%. 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 1.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEI is cheaper with a 0.15% expense ratio, compared with 0.50% for SLV.
IEI has the higher dividend yield at 3.64%, compared with 0.00% for SLV.
SLV is categorized as Silver, while IEI is Government Bonds. SLV tracks LBMA Silver Price, while IEI tracks ICE U.S. Treasury 3-7 Year Bond Index. Their fees differ too: 0.50% for SLV and 0.15% for IEI.
SLV currently has the higher Sharpe Ratio (1.44 vs 1.00), 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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