SLVO vs. SPY
Compare and contrast key facts about Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO) and SPDR S&P 500 ETF (SPY).
SLVO and SPY 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 Group AG that tracks the performance of the Credit Suisse NASDAQ Silver FLOWS 106 Index. It was launched on Apr 17, 2013. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both SLVO and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SLVO or SPY.
Key characteristics
| SLVO | SPY | |
|---|---|---|
| YTD Return | 23.95% | 26.01% |
| 1Y Return | 26.44% | 33.73% |
| 3Y Return (Ann) | 5.59% | 9.91% |
| 5Y Return (Ann) | 8.44% | 15.54% |
| 10Y Return (Ann) | 3.84% | 13.25% |
| Sharpe Ratio | 1.44 | 2.82 |
| Sortino Ratio | 1.99 | 3.76 |
| Omega Ratio | 1.26 | 1.53 |
| Calmar Ratio | 1.18 | 4.05 |
| Martin Ratio | 5.91 | 18.33 |
| Ulcer Index | 4.80% | 1.86% |
| Daily Std Dev | 19.75% | 12.07% |
| Max Drawdown | -55.08% | -55.19% |
| Current Drawdown | -7.29% | -0.90% |
Correlation
The correlation between SLVO and SPY is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SLVO vs. SPY - Performance Comparison
In the year-to-date period, SLVO achieves a 23.95% return, which is significantly lower than SPY's 26.01% return. Over the past 10 years, SLVO has underperformed SPY with an annualized return of 3.84%, while SPY has yielded a comparatively higher 13.25% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SLVO vs. SPY - Expense Ratio Comparison
SLVO has a 0.65% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
SLVO vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO) and SPDR S&P 500 ETF (SPY). 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.
Dividends
SLVO vs. SPY - Dividend Comparison
SLVO's dividend yield for the trailing twelve months is around 17.51%, more than SPY's 1.18% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLVO Credit Suisse X-Links Silver Shares Covered Call ETN | 17.51% | 16.50% | 17.33% | 25.41% | 25.30% | 7.31% | 6.11% | 9.06% | 18.16% | 15.26% | 16.48% | 11.39% |
SPY SPDR S&P 500 ETF | 1.18% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
SLVO vs. SPY - Drawdown Comparison
The maximum SLVO drawdown since its inception was -55.08%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SLVO and SPY. For additional features, visit the drawdowns tool.
Volatility
SLVO vs. SPY - Volatility Comparison
Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO) has a higher volatility of 6.62% compared to SPDR S&P 500 ETF (SPY) at 3.84%. This indicates that SLVO's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.