SLV vs. MA

Last updated Jun 13, 2026

SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price, while MA (Mastercard Incorporated) is a stock. Over the past 10 years, SLV returned 13.99%/yr vs 18.64%/yr for MA. At a 0.11 correlation, their price movements are largely independent.

Performance

SLV vs. MA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Silver Trust (SLV) and Mastercard Incorporated (MA). 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 MA's -13.89% return. Over the past 10 years, SLV has underperformed MA with an annualized return of 13.99%, while MA has yielded a comparatively higher 18.64% 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%

MA

• 1D: 0.71%
• 1M: -0.13%
• YTD: -13.89%
• 6M: -14.05%
• 1Y: -16.36%
• 3Y*: 10.32%
• 5Y*: 6.66%
• 10Y*: 18.64%

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

SLV vs. MA - 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%
MA Mastercard Incorporated	-13.89%	9.04%	24.17%	23.40%	-2.66%	1.16%	20.19%	59.16%	25.31%	47.69%

Correlation

The correlation between SLV and MA is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since May 25, 2006	0.11

The correlation between SLV and MA shifts across timeframes, from -0.06 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SLV vs. MA — 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

MA

MA Risk / Return Rank: 11
MA Sharpe Ratio Rank: 12
MA Sortino Ratio Rank: 14
MA Omega Ratio Rank: 14
MA Calmar Ratio Rank: 13
MA Martin Ratio Rank: 5

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. MA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Mastercard Incorporated (MA). 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	MA	Difference
Sharpe ratio: Return per unit of total volatility	1.44	-0.74	+2.17
Sortino ratio: Return per unit of downside risk	1.76	-0.91	+2.66
Omega ratio: Gain probability vs. loss probability	1.29	0.89	+0.40
Calmar ratio: Return relative to maximum drawdown	1.89	-0.79	+2.68
Martin ratio: Return relative to average drawdown	4.10	-1.59	+5.69

SLV vs. MA - Sharpe Ratio Comparison

The current SLV Sharpe Ratio is 1.44, which is higher than the MA Sharpe Ratio of -0.74. The chart below compares the historical Sharpe Ratios of SLV and MA, 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. MA - Drawdown Comparison

The maximum SLV drawdown since its inception was -76.28%, which is greater than MA's maximum drawdown of -62.67%. Use the drawdown chart below to compare losses from any high point for SLV and MA.

Drawdown Indicators

	SLV	MA	Difference
Max Drawdown Largest peak-to-trough decline	-76.28%	-62.67%	-13.61%
Max Drawdown (1Y) Largest decline over 1 year	-45.40%	-20.91%	-24.49%
Max Drawdown (3Y) Largest decline over 3 years	-45.40%	-20.91%	-24.49%
Max Drawdown (5Y) Largest decline over 5 years	-45.40%	-28.25%	-17.15%
Max Drawdown (10Y) Largest decline over 10 years	-45.40%	-41.00%	-4.40%
Current Drawdown Current decline from peak	-41.96%	-17.82%	-24.14%
Average Drawdown Average peak-to-trough decline	-44.66%	-9.82%	-34.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.88%	10.48%	+10.40%

Volatility

SLV vs. MA - Volatility Comparison

iShares Silver Trust (SLV) has a higher volatility of 16.34% compared to Mastercard Incorporated (MA) at 6.46%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than MA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLV	MA	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.34%	6.46%	+9.88%
Volatility (6M) Calculated over the trailing 6-month period	59.10%	17.51%	+41.59%
Volatility (1Y) Calculated over the trailing 1-year period	59.82%	22.34%	+37.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.46%	24.01%	+12.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.00%	26.92%	+5.08%

Dividends

SLV vs. MA - Dividend Comparison

SLV has not paid dividends to shareholders, while MA's dividend yield for the trailing twelve months is around 0.67%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MA Mastercard Incorporated	0.67%	0.53%	0.50%	0.53%	0.56%	0.49%	0.45%	0.44%	0.53%	0.58%	0.74%	0.66%
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

Can I hold both SLV and MA in my portfolio?

SLV and MA have a correlation of -0.06, 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 MA?

SLV has higher volatility (16.34%) compared to MA (6.46%). In terms of maximum drawdown, SLV dropped -76.28% vs MA's -62.67%.

Which has better risk-adjusted returns?

SLV currently has the higher Sharpe Ratio (1.44 vs -0.74), 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.