SLV vs. IMO
SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price, while IMO (Imperial Oil Limited) is a stock. Over the past 10 years, SLV returned 13.99%/yr vs 17.61%/yr for IMO. At a 0.26 correlation, their price movements are largely independent.
Performance
SLV vs. IMO - 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 IMO's 41.99% return. Over the past 10 years, SLV has underperformed IMO with an annualized return of 13.99%, while IMO has yielded a comparatively higher 17.61% 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%
IMO
- 1D
- 0.26%
- 1M
- -7.42%
- YTD
- 41.99%
- 6M
- 33.35%
- 1Y
- 56.95%
- 3Y*
- 37.72%
- 5Y*
- 32.35%
- 10Y*
- 17.61%
SLV vs. IMO - 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% |
IMO Imperial Oil Limited | 41.99% | 43.85% | 10.47% | 20.89% | 38.00% | 95.29% | -25.37% | 7.16% | -17.21% | -8.36% |
Correlation
The correlation between SLV and IMO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.26 |
The correlation between SLV and IMO shifts across timeframes, from 0.13 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SLV vs. IMO — Risk / Return Rank
SLV
IMO
SLV vs. IMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Imperial Oil Limited (IMO). 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 | IMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.33 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 3.47 | -1.58 |
| Martin ratioReturn relative to average drawdown | 4.10 | 10.04 | -5.94 |
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Drawdowns
SLV vs. IMO - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, smaller than the maximum IMO drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for SLV and IMO.
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Drawdown Indicators
| SLV | IMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -84.82% | +8.54% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -16.51% | -28.89% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -22.95% | -22.45% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | -29.72% | -15.68% |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | -76.96% | +31.56% |
Current DrawdownCurrent decline from peak | -41.96% | -11.88% | -30.08% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -21.19% | -23.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.88% | 5.69% | +15.19% |
Volatility
SLV vs. IMO - Volatility Comparison
iShares Silver Trust (SLV) has a higher volatility of 16.34% compared to Imperial Oil Limited (IMO) at 9.97%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than IMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | IMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.34% | 9.97% | +6.37% |
Volatility (6M)Calculated over the trailing 6-month period | 59.10% | 22.21% | +36.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.82% | 27.31% | +32.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.46% | 32.66% | +3.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 35.55% | -3.55% |
Dividends
SLV vs. IMO - Dividend Comparison
SLV has not paid dividends to shareholders, while IMO's dividend yield for the trailing twelve months is around 1.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMO Imperial Oil Limited | 1.90% | 2.40% | 2.84% | 2.73% | 2.30% | 2.28% | 3.50% | 2.41% | 2.36% | 2.02% | 1.70% | 1.66% |
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 IMO have a correlation of 0.13, 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 IMO (9.97%). In terms of maximum drawdown, SLV dropped -76.28% vs IMO's -84.82%.
IMO currently has the higher Sharpe Ratio (2.10 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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