SLVO vs. AMND

Last updated Jun 4, 2026

SLVO (UBS ETRACS Silver Shares Covered Call ETN) and AMND (ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050) are both exchange-traded funds - SLVO is a Silver fund tracking the Credit Suisse NASDAQ Silver FLOWS 106 Index, while AMND is a Energy Equities fund tracking the Alerian Midstream Energy Dividend Index. Both are passively managed. At a 0.11 correlation, their price movements are largely independent. SLVO charges 0.65%/yr vs 0.75%/yr for AMND.

Performance

SLVO vs. AMND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS ETRACS Silver Shares Covered Call ETN (SLVO) and ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050 (AMND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SLVO

• 1D: -1.17%
• 1M: 4.05%
• YTD: 13.49%
• 6M: 17.86%
• 1Y: 62.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMND

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLVO vs. AMND - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SLVO UBS ETRACS Silver Shares Covered Call ETN	13.49%	71.20%	1.24%
AMND ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050	0.00%	0.00%	25.63%

Correlation

The correlation between SLVO and AMND is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	0.11

Return for Risk

SLVO vs. AMND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SLVO

SLVO Risk / Return Rank: 66
SLVO Sharpe Ratio Rank: 62
SLVO Sortino Ratio Rank: 48
SLVO Omega Ratio Rank: 72
SLVO Calmar Ratio Rank: 72
SLVO Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SLVO vs. AMND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETRACS Silver Shares Covered Call ETN (SLVO) and ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050 (AMND). 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	AMND	Difference
Sharpe ratio: Return per unit of total volatility	2.13	—	—
Sortino ratio: Return per unit of downside risk	2.39	—	—
Omega ratio: Gain probability vs. loss probability	1.44	—	—
Calmar ratio: Return relative to maximum drawdown	3.65	—	—
Martin ratio: Return relative to average drawdown	15.01	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SLVO	AMND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	—	—

Drawdowns

Drawdown Indicators

	SLVO	AMND	Difference
Max Drawdown Largest peak-to-trough decline	-17.23%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-17.23%	—	—
Current Drawdown Current decline from peak	-3.22%	—	—
Average Drawdown Average peak-to-trough decline	-3.13%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	—	—

Volatility

Volatility by Period

	SLVO	AMND	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	27.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.53%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.23%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.23%	—	—

SLVO vs. AMND - Expense Ratio Comparison

SLVO has a 0.65% expense ratio, which is lower than AMND's 0.75% expense ratio.

Dividends

SLVO vs. AMND - Dividend Comparison

SLVO's dividend yield for the trailing twelve months is around 46.44%, while AMND has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
AMND ETRACS Alerian Midstream Energy High Dividend Index ETN due July 19, 2050	0.00%	0.00%	5.14%	6.56%	6.37%	7.10%	2.49%
SLVO UBS ETRACS Silver Shares Covered Call ETN	46.44%	19.35%	14.45%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SLVO and AMND in my portfolio?

SLVO and AMND have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLVO or AMND?

On fees, SLVO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLVO or AMND?

SLVO is cheaper with a 0.65% expense ratio, compared with 0.75% for AMND.

Which ETF pays a higher dividend yield, SLVO or AMND?

SLVO has the higher dividend yield at 46.44%, compared with 0.00% for AMND.

What is the main difference between SLVO and AMND?

SLVO is categorized as Silver, while AMND is Energy Equities. SLVO tracks Credit Suisse NASDAQ Silver FLOWS 106 Index, while AMND tracks Alerian Midstream Energy Dividend Index. Their fees differ too: 0.65% for SLVO and 0.75% for AMND.