SLVO vs. KSLV

Last updated Jun 23, 2026

SLVO (UBS ETRACS Silver Shares Covered Call ETN) and KSLV (Kurv Silver Enhanced Income ETF) are both Silver funds. SLVO is passively managed, while KSLV is actively managed. Their correlation of 0.85 suggests significant overlap in exposure. SLVO charges 0.65%/yr vs 1.00%/yr for KSLV.

Performance

SLVO vs. KSLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS ETRACS Silver Shares Covered Call ETN (SLVO) and Kurv Silver Enhanced Income ETF (KSLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLVO achieves a 4.48% return, which is significantly higher than KSLV's -10.35% return.

SLVO

• 1D: -0.66%
• 1M: -8.03%
• YTD: 4.48%
• 6M: 4.33%
• 1Y: 46.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KSLV

• 1D: -1.10%
• 1M: -14.26%
• YTD: -10.35%
• 6M: -7.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLVO vs. KSLV - Yearly Performance Comparison

	2026 (YTD)	2025
SLVO UBS ETRACS Silver Shares Covered Call ETN	4.48%	16.09%
KSLV Kurv Silver Enhanced Income ETF	-10.35%	49.94%

Correlation

The correlation between SLVO and KSLV is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025	0.85

Return for Risk

SLVO vs. KSLV — Risk / Return Rank

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

SLVO

SLVO Risk / Return Rank: 49
SLVO Sharpe Ratio Rank: 44
SLVO Sortino Ratio Rank: 36
SLVO Omega Ratio Rank: 52
SLVO Calmar Ratio Rank: 56
SLVO Martin Ratio Rank: 59

KSLV

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. KSLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETRACS Silver Shares Covered Call ETN (SLVO) and Kurv Silver Enhanced Income ETF (KSLV). 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	KSLV	Difference
Sharpe ratio: Return per unit of total volatility	1.52	—	—
Sortino ratio: Return per unit of downside risk	1.83	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.72	—	—
Martin ratio: Return relative to average drawdown	10.08	—	—

Drawdowns

SLVO vs. KSLV - Drawdown Comparison

The maximum SLVO drawdown since its inception was -17.23%, smaller than the maximum KSLV drawdown of -47.97%. Use the drawdown chart below to compare losses from any high point for SLVO and KSLV.

Drawdown Indicators

	SLVO	KSLV	Difference
Max Drawdown Largest peak-to-trough decline	-17.23%	-47.97%	+30.74%
Max Drawdown (1Y) Largest decline over 1 year	-17.23%	—	—
Current Drawdown Current decline from peak	-10.90%	-46.86%	+35.96%
Average Drawdown Average peak-to-trough decline	-3.26%	-20.98%	+17.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.64%	—	—

Volatility

Volatility by Period

	SLVO	KSLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	28.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	30.97%	71.70%	-40.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.77%	71.70%	-45.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.77%	71.70%	-45.93%

SLVO vs. KSLV - Expense Ratio Comparison

SLVO has a 0.65% expense ratio, which is lower than KSLV's 1.00% expense ratio.

Dividends

SLVO vs. KSLV - Dividend Comparison

SLVO's dividend yield for the trailing twelve months is around 63.50%, more than KSLV's 21.19% yield.

Position	TTM	2025	2024
KSLV Kurv Silver Enhanced Income ETF	21.19%	4.42%	0.00%
SLVO UBS ETRACS Silver Shares Covered Call ETN	63.50%	19.35%	14.45%

Frequently Asked Questions

Can I hold both SLVO and KSLV in my portfolio?

SLVO and KSLV have a correlation of 0.85, 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 KSLV?

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 KSLV?

SLVO is cheaper with a 0.65% expense ratio, compared with 1.00% for KSLV.

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

SLVO has the higher dividend yield at 63.50%, compared with 21.19% for KSLV.

What is the main difference between SLVO and KSLV?

They also come from different issuers: UBS and Kurv. Their fees differ too: 0.65% for SLVO and 1.00% for KSLV.