SLV vs. MSTR
SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price, while MSTR (Strategy Inc) is a stock. Over the past 10 years, SLV returned 13.99%/yr vs 20.92%/yr for MSTR. At a 0.14 correlation, their price movements are largely independent.
Performance
SLV vs. MSTR - 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 MSTR's -18.41% return. Over the past 10 years, SLV has underperformed MSTR with an annualized return of 13.99%, while MSTR has yielded a comparatively higher 20.92% annualized return.
SLV
- 1D
- 0.77%
- 1M
- -11.23%
- YTD
- -4.86%
- 6M
- 9.25%
- 1Y
- 85.90%
- 3Y*
- 41.27%
- 5Y*
- 18.83%
- 10Y*
- 13.99%
MSTR
- 1D
- 3.18%
- 1M
- -30.13%
- YTD
- -18.41%
- 6M
- -29.74%
- 1Y
- -67.62%
- 3Y*
- 63.46%
- 5Y*
- 19.14%
- 10Y*
- 20.92%
SLV vs. MSTR - 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% |
MSTR Strategy Inc | -18.41% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
Correlation
The correlation between SLV and MSTR is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.14 |
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Return for Risk
SLV vs. MSTR — Risk / Return Rank
SLV
MSTR
SLV vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Strategy Inc (MSTR). 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 | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.38 | ||
| Sortino ratioReturn per unit of downside risk | +3.46 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.82 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | -0.88 | +2.77 |
| Martin ratioReturn relative to average drawdown | 4.10 | -1.27 | +5.37 |
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Drawdowns
SLV vs. MSTR - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for SLV and MSTR.
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Drawdown Indicators
| SLV | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -99.86% | +23.58% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -76.53% | +31.13% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -77.42% | +32.02% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | -84.11% | +38.71% |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | -89.27% | +43.87% |
Current DrawdownCurrent decline from peak | -41.96% | -73.84% | +31.88% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -86.45% | +41.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.88% | 53.01% | -32.13% |
Volatility
SLV vs. MSTR - Volatility Comparison
The current volatility for iShares Silver Trust (SLV) is 16.34%, while Strategy Inc (MSTR) has a volatility of 21.60%. This indicates that SLV experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.34% | 21.60% | -5.26% |
Volatility (6M)Calculated over the trailing 6-month period | 59.10% | 57.34% | +1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.82% | 71.15% | -11.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.46% | 90.79% | -54.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 73.80% | -41.80% |
Dividends
SLV vs. MSTR - Dividend Comparison
Neither SLV nor MSTR has paid dividends to shareholders.
Frequently Asked Questions
SLV and MSTR have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (21.60%) compared to SLV (16.34%). In terms of maximum drawdown, SLV dropped -76.28% vs MSTR's -99.86%.
SLV currently has the higher Sharpe Ratio (1.44 vs -0.95), 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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