SLV vs. METL

Last updated Jun 9, 2026

SLV (iShares Silver Trust) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while METL is a Commodity Producers Equities fund actively managed by Sprott. SLV is passively managed, while METL is actively managed. A 0.71 correlation means they provide meaningful diversification when combined. SLV charges 0.50%/yr vs 0.89%/yr for METL.

Performance

SLV vs. METL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Silver Trust (SLV) and Sprott Active Metals & Miners ETF (METL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLV achieves a -4.41% return, which is significantly lower than METL's 7.51% return.

SLV

• 1D: 0.02%
• 1M: -15.66%
• YTD: -4.41%
• 6M: 16.83%
• 1Y: 88.38%
• 3Y*: 40.36%
• 5Y*: 19.02%
• 10Y*: 14.08%

METL

• 1D: 0.05%
• 1M: -9.97%
• YTD: 7.51%
• 6M: 15.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLV vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
SLV iShares Silver Trust	-4.41%	72.20%
METL Sprott Active Metals & Miners ETF	7.51%	27.04%

Correlation

The correlation between SLV and METL is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 11, 2025	0.71

Return for Risk

SLV vs. METL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SLV

SLV Risk / Return Rank: 43
SLV Sharpe Ratio Rank: 47
SLV Sortino Ratio Rank: 38
SLV Omega Ratio Rank: 54
SLV Calmar Ratio Rank: 47
SLV Martin Ratio Rank: 32

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. METL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Sprott Active Metals & Miners ETF (METL). 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.

	SLV	METL	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	1.80	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.09	—	—
Martin ratio: Return relative to average drawdown	4.40	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SLV	METL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.18	-0.94

Drawdowns

SLV vs. METL - Drawdown Comparison

The maximum SLV drawdown since its inception was -76.28%, which is greater than METL's maximum drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for SLV and METL.

Drawdown Indicators

	SLV	METL	Difference
Max Drawdown Largest peak-to-trough decline	-76.28%	-27.39%	-48.89%
Max Drawdown (1Y) Largest decline over 1 year	-42.45%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-42.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.45%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.81%	—	—
Current Drawdown Current decline from peak	-41.69%	-18.48%	-23.21%
Average Drawdown Average peak-to-trough decline	-44.67%	-8.24%	-36.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.15%	—	—

Volatility

Volatility by Period

	SLV	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	58.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	59.53%	44.85%	+14.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.33%	44.85%	-8.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.92%	44.85%	-12.93%

SLV vs. METL - Expense Ratio Comparison

SLV has a 0.50% expense ratio, which is lower than METL's 0.89% expense ratio.

Dividends

SLV vs. METL - Dividend Comparison

SLV has not paid dividends to shareholders, while METL's dividend yield for the trailing twelve months is around 0.92%.

Position	TTM	2025
METL Sprott Active Metals & Miners ETF	0.92%	0.99%
SLV iShares Silver Trust	0.00%	0.00%

Frequently Asked Questions

Can I hold both SLV and METL in my portfolio?

SLV and METL have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLV or METL?

On fees, SLV is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLV or METL?

SLV is cheaper with a 0.50% expense ratio, compared with 0.89% for METL.

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

METL has the higher dividend yield at 0.92%, compared with 0.00% for SLV.

What is the main difference between SLV and METL?

SLV is categorized as Silver, while METL is Commodity Producers Equities. They also come from different issuers: iShares and Sprott. Their fees differ too: 0.50% for SLV and 0.89% for METL.