SLV vs. PWB
SLV (iShares Silver Trust) and PWB (Invesco Dynamic Large Cap Growth ETF) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while PWB is a Large Cap Growth Equities fund tracking the Dynamic Large Cap Growth Intellidex Index. Both are passively managed. Over the past 10 years, SLV returned 14.35%/yr vs 18.77%/yr for PWB. At a 0.19 correlation, their price movements are largely independent. SLV charges 0.50%/yr vs 0.56%/yr for PWB.
Performance
SLV vs. PWB - Performance Comparison
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Returns By Period
In the year-to-date period, SLV achieves a -1.47% return, which is significantly lower than PWB's 30.14% return. Over the past 10 years, SLV has underperformed PWB with an annualized return of 14.35%, while PWB has yielded a comparatively higher 18.77% annualized return.
SLV
- 1D
- 3.56%
- 1M
- -8.07%
- YTD
- -1.47%
- 6M
- 9.22%
- 1Y
- 92.51%
- 3Y*
- 41.97%
- 5Y*
- 20.23%
- 10Y*
- 14.35%
PWB
- 1D
- 3.30%
- 1M
- 7.93%
- YTD
- 30.14%
- 6M
- 31.70%
- 1Y
- 48.14%
- 3Y*
- 33.67%
- 5Y*
- 18.60%
- 10Y*
- 18.77%
SLV vs. PWB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | -1.47% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
PWB Invesco Dynamic Large Cap Growth ETF | 30.14% | 24.94% | 31.04% | 30.61% | -25.81% | 19.58% | 31.89% | 24.68% | 0.88% | 30.71% |
Correlation
The correlation between SLV and PWB is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.19 |
The correlation between SLV and PWB shifts across timeframes, from 0.19 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SLV vs. PWB — Risk / Return Rank
SLV
PWB
SLV vs. PWB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Invesco Dynamic Large Cap Growth ETF (PWB). 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 | PWB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.41 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 4.00 | -1.95 |
| Martin ratioReturn relative to average drawdown | 4.41 | 16.69 | -12.28 |
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Drawdowns
SLV vs. PWB - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, which is greater than PWB's maximum drawdown of -52.58%. Use the drawdown chart below to compare losses from any high point for SLV and PWB.
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Drawdown Indicators
| SLV | PWB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -52.58% | -23.70% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -12.11% | -33.29% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -22.10% | -23.30% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | -31.41% | -13.99% |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | -32.36% | -13.04% |
Current DrawdownCurrent decline from peak | -39.90% | 0.00% | -39.90% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -8.23% | -36.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.03% | 2.89% | +18.14% |
Volatility
SLV vs. PWB - Volatility Comparison
iShares Silver Trust (SLV) has a higher volatility of 16.50% compared to Invesco Dynamic Large Cap Growth ETF (PWB) at 9.23%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than PWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | PWB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.50% | 9.23% | +7.27% |
Volatility (6M)Calculated over the trailing 6-month period | 59.14% | 16.98% | +42.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.02% | 20.07% | +39.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.51% | 21.28% | +15.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.02% | 20.86% | +11.16% |
SLV vs. PWB - Expense Ratio Comparison
SLV has a 0.50% expense ratio, which is lower than PWB's 0.56% expense ratio.
Dividends
SLV vs. PWB - Dividend Comparison
Neither SLV nor PWB has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PWB Invesco Dynamic Large Cap Growth ETF | 0.00% | 0.00% | 0.08% | 0.37% | 0.31% | 0.04% | 0.21% | 0.58% | 0.97% | 0.54% | 0.82% | 0.67% |
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 PWB have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (16.50%) compared to PWB (9.23%). In terms of maximum drawdown, SLV dropped -76.28% vs PWB's -52.58%.
On 10-year performance, PWB leads with 18.77% vs 14.35% for SLV. On fees, SLV is cheaper at 0.50% per year. On volatility, PWB has been the lower-risk option at 9.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PWB has performed better with a 18.77% return vs 14.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.56% for PWB.
SLV and PWB have nearly identical dividend yields, around 0.00%.
SLV is categorized as Silver, while PWB is Large Cap Growth Equities. SLV tracks LBMA Silver Price, while PWB tracks Dynamic Large Cap Growth Intellidex Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for SLV and 0.56% for PWB.
PWB currently has the higher Sharpe Ratio (2.42 vs 1.55), 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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