SLV vs. NRJL.L
SLV (iShares Silver Trust) and NRJL.L (Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while NRJL.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 10 years, SLV returned 11.05%/yr vs 9.77%/yr for NRJL.L. At a 0.24 correlation, their price movements are largely independent. SLV charges 0.50%/yr vs 0.60%/yr for NRJL.L.
Performance
SLV vs. NRJL.L - Performance Comparison
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Different Trading Currencies
SLV is traded in USD, while NRJL.L is traded in GBP. To make them comparable, the NRJL.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SLV achieves a -17.00% return, which is significantly lower than NRJL.L's 36.22% return. Over the past 10 years, SLV has outperformed NRJL.L with an annualized return of 11.05%, while NRJL.L has yielded a comparatively lower 9.77% annualized return.
SLV
- 1D
- 1.50%
- 1M
- -21.75%
- YTD
- -17.00%
- 6M
- -22.48%
- 1Y
- 62.97%
- 3Y*
- 36.79%
- 5Y*
- 17.27%
- 10Y*
- 11.05%
NRJL.L
- 1D
- 2.10%
- 1M
- -1.77%
- YTD
- 36.22%
- 6M
- 35.32%
- 1Y
- 72.67%
- 3Y*
- 12.73%
- 5Y*
- 2.12%
- 10Y*
- 9.77%
SLV vs. NRJL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | -17.00% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist | 36.22% | 45.70% | -13.04% | -18.80% | -18.49% | -6.26% | 37.17% | 53.22% | -12.97% | 26.13% |
Correlation
The correlation between SLV and NRJL.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009 | 0.24 |
The correlation between SLV and NRJL.L shifts across timeframes, from 0.24 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SLV vs. NRJL.L — Risk / Return Rank
SLV
NRJL.L
SLV vs. NRJL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L). 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 | NRJL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.53 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 6.92 | -5.67 |
| Martin ratioReturn relative to average drawdown | 2.74 | 22.97 | -20.22 |
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Drawdowns
SLV vs. NRJL.L - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, which is greater than NRJL.L's maximum drawdown of -57.04%. Use the drawdown chart below to compare losses from any high point for SLV and NRJL.L.
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Drawdown Indicators
| SLV | NRJL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -57.04% | -19.24% |
Max Drawdown (1Y)Largest decline over 1 year | -50.97% | -10.45% | -40.52% |
Max Drawdown (3Y)Largest decline over 3 years | -50.97% | -39.74% | -11.23% |
Max Drawdown (5Y)Largest decline over 5 years | -50.97% | -56.16% | +5.19% |
Max Drawdown (10Y)Largest decline over 10 years | -50.97% | -57.04% | +6.07% |
Current DrawdownCurrent decline from peak | -49.37% | -3.29% | -46.08% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -28.42% | -16.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.01% | 3.15% | +19.86% |
Volatility
SLV vs. NRJL.L - Volatility Comparison
iShares Silver Trust (SLV) has a higher volatility of 15.67% compared to Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L) at 9.76%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than NRJL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | NRJL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.67% | 9.76% | +5.91% |
Volatility (6M)Calculated over the trailing 6-month period | 58.87% | 18.71% | +40.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.75% | 22.20% | +38.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.74% | 24.34% | +12.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.12% | 23.74% | +8.38% |
SLV vs. NRJL.L - Expense Ratio Comparison
SLV has a 0.50% expense ratio, which is lower than NRJL.L's 0.60% expense ratio.
Dividends
SLV vs. NRJL.L - Dividend Comparison
SLV has not paid dividends to shareholders, while NRJL.L's dividend yield for the trailing twelve months is around 0.30%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist | 0.30% | 0.42% | 0.73% | 0.77% | 0.24% | 0.32% | 0.70% | 1.02% | 0.59% | 0.79% |
SLV iShares Silver Trust | 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 NRJL.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SLV is cheaper with a 0.50% expense ratio, compared with 0.60% for NRJL.L.
SLV is categorized as Silver, while NRJL.L is Energy Equities. SLV tracks LBMA Silver Price, while NRJL.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.50% for SLV and 0.60% for NRJL.L.
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