SLV vs. IGV

Last updated Jun 13, 2026

SLV (iShares Silver Trust) and IGV (iShares Expanded Tech-Software Sector ETF) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while IGV is a Technology Equities fund tracking the S&P North American Expanded Technology Software Index. Both are passively managed. Over the past 10 years, SLV returned 13.99%/yr vs 15.87%/yr for IGV. At a 0.15 correlation, their price movements are largely independent. SLV charges 0.50%/yr vs 0.39%/yr for IGV.

Performance

SLV vs. IGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Silver Trust (SLV) and iShares Expanded Tech-Software Sector ETF (IGV). 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 higher than IGV's -14.18% return. Over the past 10 years, SLV has underperformed IGV with an annualized return of 13.99%, while IGV has yielded a comparatively higher 15.87% 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%

IGV

• 1D: -0.24%
• 1M: 2.37%
• YTD: -14.18%
• 6M: -16.00%
• 1Y: -15.27%
• 3Y*: 10.04%
• 5Y*: 3.91%
• 10Y*: 15.87%

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

SLV vs. IGV - 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%
IGV iShares Expanded Tech-Software Sector ETF	-14.18%	5.56%	23.41%	58.56%	-35.65%	12.30%	52.86%	34.33%	12.44%	42.16%

Correlation

The correlation between SLV and IGV is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006	0.15

SLV vs. IGV - Sectors Allocation Comparison

Sectors	SLV	IGV
Basic Materials	100.0%	-
Communication Services	-	8.6%
Consumer Cyclical	-	0.3%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	1.8%
Healthcare	-	-
Industrials	-	0.2%
Real Estate	-	-
Technology	-	89.2%
Utilities	-	-

Return for Risk

SLV vs. IGV — 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

IGV

IGV Risk / Return Rank: 5
IGV Sharpe Ratio Rank: 5
IGV Sortino Ratio Rank: 5
IGV Omega Ratio Rank: 5
IGV Calmar Ratio Rank: 6
IGV Martin Ratio Rank: 6

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. IGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and iShares Expanded Tech-Software Sector ETF (IGV). 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	IGV	Difference
Sharpe ratio: Return per unit of total volatility	1.44	-0.55	+1.98
Sortino ratio: Return per unit of downside risk	1.76	-0.61	+2.37
Omega ratio: Gain probability vs. loss probability	1.29	0.93	+0.36
Calmar ratio: Return relative to maximum drawdown	1.89	-0.42	+2.31
Martin ratio: Return relative to average drawdown	4.10	-0.87	+4.97

SLV vs. IGV - Sharpe Ratio Comparison

The current SLV Sharpe Ratio is 1.44, which is higher than the IGV Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of SLV and IGV, 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. IGV - Drawdown Comparison

The maximum SLV drawdown since its inception was -76.28%, which is greater than IGV's maximum drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for SLV and IGV.

Drawdown Indicators

	SLV	IGV	Difference
Max Drawdown Largest peak-to-trough decline	-76.28%	-63.45%	-12.83%
Max Drawdown (1Y) Largest decline over 1 year	-45.40%	-36.61%	-8.79%
Max Drawdown (3Y) Largest decline over 3 years	-45.40%	-36.61%	-8.79%
Max Drawdown (5Y) Largest decline over 5 years	-45.40%	-45.85%	+0.45%
Max Drawdown (10Y) Largest decline over 10 years	-45.40%	-45.85%	+0.45%
Current Drawdown Current decline from peak	-41.96%	-23.00%	-18.96%
Average Drawdown Average peak-to-trough decline	-44.66%	-14.45%	-30.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.88%	17.55%	+3.33%

Volatility

SLV vs. IGV - Volatility Comparison

iShares Silver Trust (SLV) has a higher volatility of 16.34% compared to iShares Expanded Tech-Software Sector ETF (IGV) at 12.57%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than IGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLV	IGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.34%	12.57%	+3.77%
Volatility (6M) Calculated over the trailing 6-month period	59.10%	24.80%	+34.30%
Volatility (1Y) Calculated over the trailing 1-year period	59.82%	28.06%	+31.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.46%	27.92%	+8.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.00%	26.39%	+5.61%

SLV vs. IGV - Expense Ratio Comparison

SLV has a 0.50% expense ratio, which is higher than IGV's 0.39% expense ratio.

Dividends

SLV vs. IGV - Dividend Comparison

Neither SLV nor IGV has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGV iShares Expanded Tech-Software Sector ETF	0.00%	0.00%	0.00%	0.01%	0.01%	0.00%	0.35%	0.02%	0.16%	0.09%	0.82%	0.22%
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

Can I hold both SLV and IGV in my portfolio?

SLV and IGV have a correlation of 0.08, 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 IGV?

SLV has higher volatility (16.34%) compared to IGV (12.57%). In terms of maximum drawdown, SLV dropped -76.28% vs IGV's -63.45%.

Which ETF is better, SLV or IGV?

On 10-year performance, IGV leads with 15.87% vs 13.99% for SLV. On fees, IGV is cheaper at 0.39% per year. On volatility, IGV has been the lower-risk option at 12.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLV or IGV?

Over the 10-year period, IGV has performed better with a 15.87% return vs 13.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLV or IGV?

IGV is cheaper with a 0.39% expense ratio, compared with 0.50% for SLV.

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

SLV and IGV have nearly identical dividend yields, around 0.00%.

What is the main difference between SLV and IGV?

SLV is categorized as Silver, while IGV is Technology Equities. SLV tracks LBMA Silver Price, while IGV tracks S&P North American Expanded Technology Software Index. Their fees differ too: 0.50% for SLV and 0.39% for IGV.

Which has better risk-adjusted returns?

SLV currently has the higher Sharpe Ratio (1.44 vs -0.55), 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.