SLVO vs. AAAU
Compare and contrast key facts about Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO) and Goldman Sachs Physical Gold ETF (AAAU).
SLVO and AAAU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SLVO is a passively managed fund by Credit Suisse that tracks the performance of the Credit Suisse NASDAQ Silver FLOWS 106 Index. It was launched on Apr 17, 2013. AAAU is a passively managed fund by Goldman Sachs that tracks the performance of the LBMA Gold PM Price. It was launched on Jul 26, 2018. Both SLVO and AAAU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SLVO vs. AAAU - Performance Comparison
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SLVO vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SLVO Credit Suisse X-Links Silver Shares Covered Call ETN | 7.50% | 71.20% | 1.24% |
AAAU Goldman Sachs Physical Gold ETF | 10.48% | 64.06% | 11.64% |
Returns By Period
In the year-to-date period, SLVO achieves a 7.50% return, which is significantly lower than AAAU's 10.48% return.
SLVO
- 1D
- 0.54%
- 1M
- -6.24%
- YTD
- 7.50%
- 6M
- 24.74%
- 1Y
- 57.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AAAU
- 1D
- 1.78%
- 1M
- -10.64%
- YTD
- 10.48%
- 6M
- 23.10%
- 1Y
- 52.53%
- 3Y*
- 33.97%
- 5Y*
- 22.27%
- 10Y*
- —
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SLVO vs. AAAU - Expense Ratio Comparison
SLVO has a 0.65% expense ratio, which is higher than AAAU's 0.18% expense ratio.
Return for Risk
SLVO vs. AAAU — Risk / Return Rank
SLVO
AAAU
SLVO vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO) and Goldman Sachs Physical Gold ETF (AAAU). 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.
| SLVO | AAAU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.96 | 1.92 | +0.04 |
Sortino ratioReturn per unit of downside risk | 2.21 | 2.35 | -0.14 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.35 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 3.32 | 2.73 | +0.59 |
Martin ratioReturn relative to average drawdown | 14.56 | 10.02 | +4.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLVO | AAAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 1.92 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.61 | 1.18 | +0.43 |
Correlation
The correlation between SLVO and AAAU is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SLVO vs. AAAU - Dividend Comparison
SLVO's dividend yield for the trailing twelve months is around 37.95%, while AAAU has not paid dividends to shareholders.
| TTM | 2025 | 2024 | |
|---|---|---|---|
SLVO Credit Suisse X-Links Silver Shares Covered Call ETN | 37.95% | 19.35% | 14.45% |
AAAU Goldman Sachs Physical Gold ETF | 0.00% | 0.00% | 0.00% |
Drawdowns
SLVO vs. AAAU - Drawdown Comparison
The maximum SLVO drawdown since its inception was -17.23%, smaller than the maximum AAAU drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for SLVO and AAAU.
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Drawdown Indicators
| SLVO | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.23% | -21.63% | +4.40% |
Max Drawdown (1Y)Largest decline over 1 year | -17.23% | -19.13% | +1.90% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.94% | — |
Current DrawdownCurrent decline from peak | -7.93% | -11.65% | +3.72% |
Average DrawdownAverage peak-to-trough decline | -3.00% | -6.01% | +3.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.93% | 5.21% | -1.28% |
Volatility
SLVO vs. AAAU - Volatility Comparison
Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO) has a higher volatility of 14.26% compared to Goldman Sachs Physical Gold ETF (AAAU) at 10.43%. This indicates that SLVO's price experiences larger fluctuations and is considered to be riskier than AAAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLVO | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.26% | 10.43% | +3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 27.43% | 24.06% | +3.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.61% | 27.50% | +2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.42% | 17.58% | +7.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.42% | 16.92% | +8.50% |