SLV vs. SSG
SLV (iShares Silver Trust) and SSG (Proshares Ultrashort Semiconductors) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while SSG is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (-200%). Both are passively managed. Over the past 10 years, SLV returned 13.99%/yr vs -61.87%/yr for SSG. At a correlation of -0.17, they often move in opposite directions. SLV charges 0.50%/yr vs 0.95%/yr for SSG.
Performance
SLV vs. SSG - 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 SSG's -57.62% return. Over the past 10 years, SLV has outperformed SSG with an annualized return of 13.99%, while SSG has yielded a comparatively lower -61.87% 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%
SSG
- 1D
- -2.05%
- 1M
- -8.96%
- YTD
- -57.62%
- 6M
- -60.52%
- 1Y
- -79.15%
- 3Y*
- -73.33%
- 5Y*
- -66.38%
- 10Y*
- -61.87%
SLV vs. SSG - 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% |
SSG Proshares Ultrashort Semiconductors | -57.62% | -70.03% | -77.59% | -78.69% | 37.90% | -67.46% | -76.50% | -63.33% | -0.79% | -51.60% |
Correlation
The correlation between SLV and SSG is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.17 |
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Return for Risk
SLV vs. SSG — Risk / Return Rank
SLV
SSG
SLV vs. SSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Proshares Ultrashort Semiconductors (SSG). 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 | SSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.62 | ||
| Sortino ratioReturn per unit of downside risk | +4.42 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.72 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | -0.97 | +2.86 |
| Martin ratioReturn relative to average drawdown | 4.10 | -1.52 | +5.62 |
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Drawdowns
SLV vs. SSG - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, smaller than the maximum SSG drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SLV and SSG.
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Drawdown Indicators
| SLV | SSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -100.00% | +23.72% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -81.04% | +35.64% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -98.49% | +53.09% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | -99.64% | +54.24% |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | -99.99% | +54.59% |
Current DrawdownCurrent decline from peak | -41.96% | -100.00% | +58.04% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -88.59% | +43.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.88% | 51.46% | -30.58% |
Volatility
SLV vs. SSG - Volatility Comparison
The current volatility for iShares Silver Trust (SLV) is 16.34%, while Proshares Ultrashort Semiconductors (SSG) has a volatility of 28.87%. This indicates that SLV experiences smaller price fluctuations and is considered to be less risky than SSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | SSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.34% | 28.87% | -12.53% |
Volatility (6M)Calculated over the trailing 6-month period | 59.10% | 52.78% | +6.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.82% | 65.95% | -6.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.46% | 78.00% | -41.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 69.35% | -37.35% |
SLV vs. SSG - Expense Ratio Comparison
SLV has a 0.50% expense ratio, which is lower than SSG's 0.95% expense ratio.
Dividends
SLV vs. SSG - Dividend Comparison
SLV has not paid dividends to shareholders, while SSG's dividend yield for the trailing twelve months is around 12.32%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SSG Proshares Ultrashort Semiconductors | 12.32% | 9.19% | 7.67% | 6.73% | 0.75% | 0.00% | 0.34% | 1.81% | 0.62% |
Frequently Asked Questions
SLV and SSG have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSG has higher volatility (28.87%) compared to SLV (16.34%). In terms of maximum drawdown, SLV dropped -76.28% vs SSG's -100.00%.
On 10-year performance, SLV leads with 13.99% vs -61.87% for SSG. On fees, SLV is cheaper at 0.50% per year. On volatility, SLV has been the lower-risk option at 16.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLV has performed better with a 13.99% return vs -61.87%. 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 0.95% for SSG.
SSG has the higher dividend yield at 12.32%, compared with 0.00% for SLV.
SLV is categorized as Silver, while SSG is Leveraged Equities. SLV tracks LBMA Silver Price, while SSG tracks Dow Jones U.S. Semiconductors Index (-200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.50% for SLV and 0.95% for SSG.
SLV currently has the higher Sharpe Ratio (1.44 vs -1.19), 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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