SLVO vs. FBGX

Last updated Jun 24, 2026

SLVO (UBS ETRACS Silver Shares Covered Call ETN) and FBGX (UBS AG FI Enhanced Large Cap Growth ETN) are both exchange-traded funds - SLVO is a Silver fund tracking the Credit Suisse NASDAQ Silver FLOWS 106 Index, while FBGX is a Leveraged Equities fund tracking the Russell 1000 Growth Index (200%). Both are passively managed. At a correlation of -0.02, they often move in opposite directions. SLVO charges 0.65%/yr vs 1.29%/yr for FBGX.

Performance

SLVO vs. FBGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS ETRACS Silver Shares Covered Call ETN (SLVO) and UBS AG FI Enhanced Large Cap Growth ETN (FBGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SLVO

• 1D: -5.10%
• 1M: -12.72%
• YTD: -0.85%
• 6M: -1.19%
• 1Y: 38.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBGX

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

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

SLVO vs. FBGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SLVO UBS ETRACS Silver Shares Covered Call ETN	-0.85%	71.20%	0.94%
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	10.40%

Correlation

The correlation between SLVO and FBGX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024	-0.02

Return for Risk

SLVO vs. FBGX — Risk / Return Rank

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

SLVO

SLVO Risk / Return Rank: 41
SLVO Sharpe Ratio Rank: 36
SLVO Sortino Ratio Rank: 30
SLVO Omega Ratio Rank: 43
SLVO Calmar Ratio Rank: 47
SLVO Martin Ratio Rank: 50

FBGX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. FBGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETRACS Silver Shares Covered Call ETN (SLVO) and UBS AG FI Enhanced Large Cap Growth ETN (FBGX). 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.

	SLVO	FBGX	Difference
Sharpe ratio: Return per unit of total volatility	1.24	—	—
Sortino ratio: Return per unit of downside risk	1.57	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.26	—	—
Martin ratio: Return relative to average drawdown	8.21	—	—

Drawdowns

Drawdown Indicators

	SLVO	FBGX	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	-15.44%	—	—
Average Drawdown Average peak-to-trough decline	-3.29%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.74%	—	—

Volatility

Volatility by Period

	SLVO	FBGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	29.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	31.36%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.00%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.00%	—	—

SLVO vs. FBGX - Expense Ratio Comparison

SLVO has a 0.65% expense ratio, which is lower than FBGX's 1.29% expense ratio.

Dividends

SLVO vs. FBGX - Dividend Comparison

SLVO's dividend yield for the trailing twelve months is around 66.91%, while FBGX has not paid dividends to shareholders.

Position	TTM	2025	2024
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	0.00%
SLVO UBS ETRACS Silver Shares Covered Call ETN	66.91%	19.35%	14.45%

Frequently Asked Questions

Can I hold both SLVO and FBGX in my portfolio?

SLVO and FBGX have a correlation of -0.02, 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 FBGX?

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 FBGX?

SLVO is cheaper with a 0.65% expense ratio, compared with 1.29% for FBGX.

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

SLVO has the higher dividend yield at 66.91%, compared with 0.00% for FBGX.

What is the main difference between SLVO and FBGX?

SLVO is categorized as Silver, while FBGX is Leveraged Equities. SLVO tracks Credit Suisse NASDAQ Silver FLOWS 106 Index, while FBGX tracks Russell 1000 Growth Index (200%). Their fees differ too: 0.65% for SLVO and 1.29% for FBGX.