SLV vs. JPM
SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price, while JPM (JPMorgan Chase & Co.) is a stock. Over the past 10 years, SLV returned 13.83%/yr vs 21.46%/yr for JPM. At a 0.08 correlation, their price movements are largely independent.
Performance
SLV vs. JPM - Performance Comparison
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Returns By Period
In the year-to-date period, SLV achieves a -5.91% return, which is significantly lower than JPM's 4.49% return. Over the past 10 years, SLV has underperformed JPM with an annualized return of 13.83%, while JPM has yielded a comparatively higher 21.46% annualized return.
SLV
- 1D
- -4.39%
- 1M
- -13.34%
- YTD
- -5.91%
- 6M
- 0.58%
- 1Y
- 79.64%
- 3Y*
- 39.81%
- 5Y*
- 20.48%
- 10Y*
- 13.83%
JPM
- 1D
- 0.70%
- 1M
- 10.88%
- YTD
- 4.49%
- 6M
- 6.89%
- 1Y
- 26.13%
- 3Y*
- 35.58%
- 5Y*
- 20.66%
- 10Y*
- 21.46%
SLV vs. JPM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | -5.91% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
JPM JPMorgan Chase & Co. | 4.49% | 37.27% | 44.29% | 30.63% | -12.64% | 27.75% | -5.53% | 47.26% | -6.62% | 26.76% |
Correlation
The correlation between SLV and JPM is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.08 |
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Return for Risk
SLV vs. JPM — Risk / Return Rank
SLV
JPM
SLV vs. JPM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and JPMorgan Chase & Co. (JPM). 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 | JPM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.70 | +0.07 |
| Martin ratioReturn relative to average drawdown | 3.74 | 4.00 | -0.26 |
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Drawdowns
SLV vs. JPM - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, roughly equal to the maximum JPM drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for SLV and JPM.
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Drawdown Indicators
| SLV | JPM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -76.16% | -0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -15.47% | -29.93% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -24.42% | -20.98% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | -38.77% | -6.63% |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | -43.63% | -1.77% |
Current DrawdownCurrent decline from peak | -42.60% | 0.00% | -42.60% |
Average DrawdownAverage peak-to-trough decline | -44.65% | -17.61% | -27.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.35% | 6.55% | +14.80% |
Volatility
SLV vs. JPM - Volatility Comparison
iShares Silver Trust (SLV) has a higher volatility of 14.57% compared to JPMorgan Chase & Co. (JPM) at 7.07%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | JPM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.57% | 7.07% | +7.50% |
Volatility (6M)Calculated over the trailing 6-month period | 59.15% | 16.90% | +42.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.09% | 21.94% | +38.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.49% | 24.46% | +12.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.04% | 27.42% | +4.62% |
Dividends
SLV vs. JPM - Dividend Comparison
SLV has not paid dividends to shareholders, while JPM's dividend yield for the trailing twelve months is around 1.77%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPM JPMorgan Chase & Co. | 1.77% | 1.72% | 1.92% | 2.38% | 2.98% | 2.34% | 2.83% | 2.37% | 2.54% | 1.91% | 2.13% | 2.54% |
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 JPM have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.57%) compared to JPM (7.07%). In terms of maximum drawdown, SLV dropped -76.28% vs JPM's -76.16%.
SLV currently has the higher Sharpe Ratio (1.33 vs 1.20), 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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