SLV vs. SVR-C.TO
SLV (iShares Silver Trust) and SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) are both Silver funds from iShares tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, SLV returned 11.05%/yr vs 11.49%/yr for SVR-C.TO. A 0.64 correlation means they provide meaningful diversification when combined. SLV charges 0.50%/yr vs 0.66%/yr for SVR-C.TO.
Performance
SLV vs. SVR-C.TO - Performance Comparison
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Different Trading Currencies
SLV is traded in USD, while SVR-C.TO is traded in CAD. To make them comparable, the SVR-C.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with SLV having a -17.00% return and SVR-C.TO slightly lower at -17.45%. Both investments have delivered pretty close results over the past 10 years, with SLV having a 11.05% annualized return and SVR-C.TO not far ahead at 11.49%.
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%
SVR-C.TO
- 1D
- 1.73%
- 1M
- -21.81%
- YTD
- -17.45%
- 6M
- -22.77%
- 1Y
- 63.83%
- 3Y*
- 36.65%
- 5Y*
- 17.03%
- 10Y*
- 11.49%
SLV vs. SVR-C.TO - 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% |
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | -17.45% | 144.05% | 20.41% | -0.28% | 3.15% | -12.98% | 47.38% | 13.97% | -9.93% | 4.80% |
Correlation
The correlation between SLV and SVR-C.TO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2012 | 0.64 |
Over the past year, SLV and SVR-C.TO have become more correlated (0.91) than their long-term average of 0.64, meaning their price movements have been converging.
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Return for Risk
SLV vs. SVR-C.TO — Risk / Return Rank
SLV
SVR-C.TO
SLV vs. SVR-C.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO). 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 | SVR-C.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.23 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.26 | -0.01 |
| Martin ratioReturn relative to average drawdown | 2.74 | 2.76 | -0.02 |
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Drawdowns
SLV vs. SVR-C.TO - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, which is greater than SVR-C.TO's maximum drawdown of -67.24%. Use the drawdown chart below to compare losses from any high point for SLV and SVR-C.TO.
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Drawdown Indicators
| SLV | SVR-C.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -67.24% | -9.04% |
Max Drawdown (1Y)Largest decline over 1 year | -50.97% | -51.08% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -50.97% | -51.08% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -50.97% | -51.08% | +0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -50.97% | -51.08% | +0.11% |
Current DrawdownCurrent decline from peak | -49.37% | -49.32% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -40.00% | -4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.01% | 23.18% | -0.17% |
Volatility
SLV vs. SVR-C.TO - Volatility Comparison
iShares Silver Trust (SLV) and iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) have volatilities of 15.67% and 15.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | SVR-C.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.67% | 15.47% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 58.87% | 56.85% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.75% | 59.24% | +1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.74% | 36.71% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.12% | 32.53% | -0.41% |
SLV vs. SVR-C.TO - Expense Ratio Comparison
SLV has a 0.50% expense ratio, which is lower than SVR-C.TO's 0.66% expense ratio.
Dividends
SLV vs. SVR-C.TO - Dividend Comparison
Neither SLV nor SVR-C.TO has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, SLV and SVR-C.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.66% for SVR-C.TO.
Both ETFs track LBMA Silver Price. Their fees differ too: 0.50% for SLV and 0.66% for SVR-C.TO.
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