SLV vs. ISRG
SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price, while ISRG (Intuitive Surgical, Inc.) is a stock. Over the past 10 years, SLV returned 13.99%/yr vs 19.09%/yr for ISRG. At a 0.15 correlation, their price movements are largely independent.
Performance
SLV vs. ISRG - Performance Comparison
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Returns By Period
In the year-to-date period, SLV achieves a -4.86% return, which is significantly higher than ISRG's -27.42% return. Over the past 10 years, SLV has underperformed ISRG with an annualized return of 13.99%, while ISRG has yielded a comparatively higher 19.09% 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%
ISRG
- 1D
- -0.45%
- 1M
- -4.91%
- YTD
- -27.42%
- 6M
- -24.20%
- 1Y
- -19.87%
- 3Y*
- 9.23%
- 5Y*
- 7.37%
- 10Y*
- 19.09%
SLV vs. ISRG - 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% |
ISRG Intuitive Surgical, Inc. | -27.42% | 8.51% | 54.72% | 27.14% | -26.15% | 31.76% | 38.39% | 23.43% | 31.23% | 72.64% |
Correlation
The correlation between SLV and ISRG is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
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 |
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Return for Risk
SLV vs. ISRG — Risk / Return Rank
SLV
ISRG
SLV vs. ISRG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Intuitive Surgical, Inc. (ISRG). 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 | ISRG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.09 | ||
| Sortino ratioReturn per unit of downside risk | +2.62 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.90 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | -0.62 | +2.51 |
| Martin ratioReturn relative to average drawdown | 4.10 | -1.24 | +5.35 |
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Drawdowns
SLV vs. ISRG - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, smaller than the maximum ISRG drawdown of -82.26%. Use the drawdown chart below to compare losses from any high point for SLV and ISRG.
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Drawdown Indicators
| SLV | ISRG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -82.26% | +5.98% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -32.14% | -13.26% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -34.10% | -11.30% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | -49.90% | +4.50% |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | -49.90% | +4.50% |
Current DrawdownCurrent decline from peak | -41.96% | -32.66% | -9.30% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -21.28% | -23.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.88% | 16.00% | +4.88% |
Volatility
SLV vs. ISRG - Volatility Comparison
iShares Silver Trust (SLV) has a higher volatility of 16.34% compared to Intuitive Surgical, Inc. (ISRG) at 9.70%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than ISRG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | ISRG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.34% | 9.70% | +6.64% |
Volatility (6M)Calculated over the trailing 6-month period | 59.10% | 20.72% | +38.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.82% | 30.69% | +29.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.46% | 33.19% | +3.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 32.40% | -0.40% |
Dividends
SLV vs. ISRG - Dividend Comparison
Neither SLV nor ISRG has paid dividends to shareholders.
Frequently Asked Questions
SLV and ISRG have a correlation of 0.16, 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 ISRG (9.70%). In terms of maximum drawdown, SLV dropped -76.28% vs ISRG's -82.26%.
SLV currently has the higher Sharpe Ratio (1.44 vs -0.65), 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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