SLV vs. SVM

Last updated Aug 4, 2026

SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price, while SVM (Silvercorp Metals Inc.) is a stock. Over the past 10 years, SLV returned 10.86%/yr vs 12.63%/yr for SVM. Their 0.61 correlation means they have sometimes moved together and sometimes differently.

Performance

SLV vs. SVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Silver Trust (SLV) and Silvercorp Metals Inc. (SVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLV achieves a -18.57% return, which is significantly lower than SVM's 14.74% return. Over the past 10 years, SLV has underperformed SVM with an annualized return of 10.86%, while SVM has yielded a comparatively higher 12.63% annualized return.

SLV

• 1D: 0.19%
• 1M: -4.65%
• 6M: -27.58%
• YTD: -18.57%
• 1Y: 56.18%
• 3Y*: 34.29%
• 5Y*: 17.38%
• 10Y*: 10.86%
• ALL TIME*: 7.17%

SVM

• 1D: 2.14%
• 1M: -6.91%
• 6M: -4.40%
• YTD: 14.74%
• 1Y: 121.91%
• 3Y*: 50.07%
• 5Y*: 15.88%
• 10Y*: 12.63%
• ALL TIME*: 11.08%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SLV iShares Silver Trust	$713.72M	$758.23M	$1.25B
SVM Silvercorp Metals Inc.	$18.48M	$22.21M	$40.26M

SLV vs. SVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLV iShares Silver Trust	-18.57%	144.66%	20.89%	-1.09%	2.37%	-12.45%	47.30%	14.88%	-9.19%	5.82%
SVM Silvercorp Metals Inc.	14.74%	179.29%	14.88%	-10.33%	-20.60%	-43.52%	18.54%	172.27%	-18.96%	12.52%

Correlation

The correlation between SLV and SVM is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (10Y) Provides a long-term view across more market conditions.	0.64
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006	0.61

The correlation between SLV and SVM shifts across timeframes, from 0.61 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SLV vs. SVM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SLV

SLV Risk / Return Rank: 35
SLV Sharpe Ratio Rank: 37
SLV Sortino Ratio Rank: 36
SLV Omega Ratio Rank: 45
SLV Calmar Ratio Rank: 32
SLV Martin Ratio Rank: 26

SVM

SVM Risk / Return Rank: 84
SVM Sharpe Ratio Rank: 88
SVM Sortino Ratio Rank: 82
SVM Omega Ratio Rank: 81
SVM Calmar Ratio Rank: 85
SVM Martin Ratio Rank: 84

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SLV vs. SVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Silvercorp Metals Inc. (SVM). 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	SVM	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.74	-0.82
Sortino ratio: Return per unit of downside risk	1.36	2.17	-0.81
Omega ratio: Gain probability vs. loss probability	1.21	1.28	-0.06
Calmar ratio: Return relative to maximum drawdown	1.08	2.80	-1.72
Martin ratio: Return relative to average drawdown	2.05	6.61	-4.56

SLV vs. SVM - Sharpe Ratio Comparison

The current SLV Sharpe Ratio is 0.92, which is lower than the SVM Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of SLV and SVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SLV vs. SVM - Drawdown Comparison

The maximum SLV drawdown since its inception was -76.28%, smaller than the maximum SVM drawdown of -98.00%. Use the drawdown chart below to compare losses from any high point for SLV and SVM.

Drawdown Indicators

	SLV	SVM	Difference
Max Drawdown Largest peak-to-trough decline	-76.28%	-98.00%	+21.72%
Max Drawdown (1Y) Largest decline over 1 year	-52.28%	-43.80%	-8.48%
Max Drawdown (3Y) Largest decline over 3 years	-52.28%	-43.80%	-8.48%
Max Drawdown (5Y) Largest decline over 5 years	-52.28%	-56.10%	+3.82%
Max Drawdown (10Y) Largest decline over 10 years	-52.28%	-76.19%	+23.91%
Current Drawdown Current decline from peak	-50.32%	-51.65%	+1.33%
Average Drawdown Average peak-to-trough decline	-44.68%	-71.50%	+26.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.49%	18.51%	+8.98%

Volatility

SLV vs. SVM - Volatility Comparison

The current volatility for iShares Silver Trust (SLV) is 10.86%, while Silvercorp Metals Inc. (SVM) has a volatility of 16.72%. This indicates that SLV experiences smaller price fluctuations and is considered to be less risky than SVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLV	SVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.86%	16.72%	-5.86%
Volatility (6M) Calculated over the trailing 6-month period	44.32%	53.41%	-9.09%
Volatility (1Y) Calculated over the trailing 1-year period	61.47%	70.45%	-8.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.98%	56.28%	-19.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.23%	61.39%	-29.16%

Dividends

SLV vs. SVM - Dividend Comparison

SLV has not paid dividends to shareholders, while SVM's dividend yield for the trailing twelve months is around 0.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SVM Silvercorp Metals Inc.	0.26%	0.30%	0.83%	0.95%	0.84%	0.66%	0.37%	0.44%	1.19%	0.76%	0.43%	2.13%

Frequently Asked Questions

Can I hold both SLV and SVM in my portfolio?

SLV and SVM have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLV or SVM?

SVM has higher volatility (16.72%) compared to SLV (10.86%). In terms of maximum drawdown, SLV dropped -76.28% vs SVM's -98.00%.

Which has better risk-adjusted returns?

SVM currently has the higher Sharpe Ratio (1.74 vs 0.92), 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.