SLVP vs. ACWI

Last updated Aug 2, 2026

SLVP (iShares MSCI Global Silver and Metals Miners ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, SLVP returned 7.89%/yr vs 12.53%/yr for ACWI. Their 0.31 correlation means their historical movements had little consistent relationship. SLVP charges 0.39%/yr vs 0.32%/yr for ACWI.

Performance

SLVP vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Silver and Metals Miners ETF (SLVP) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLVP achieves a -12.97% return, which is significantly lower than ACWI's 11.28% return. Over the past 10 years, SLVP has underperformed ACWI with an annualized return of 7.89%, while ACWI has yielded a comparatively higher 12.53% annualized return.

SLVP

• 1D: -3.63%
• 1M: -7.59%
• 6M: -22.73%
• YTD: -12.97%
• 1Y: 72.99%
• 3Y*: 45.49%
• 5Y*: 16.22%
• 10Y*: 7.89%
• ALL TIME*: 2.52%

ACWI

• 1D: 0.49%
• 1M: 0.18%
• 6M: 8.21%
• YTD: 11.28%
• 1Y: 23.78%
• 3Y*: 18.53%
• 5Y*: 10.82%
• 10Y*: 12.53%
• ALL TIME*: 8.47%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ACWI iShares MSCI ACWI ETF	$420.02M	$465.87M	$510.46M
SLVP iShares MSCI Global Silver and Metals Miners ETF	$7.13M	$7.08M	$11.62M

SLVP vs. ACWI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLVP iShares MSCI Global Silver and Metals Miners ETF	-12.97%	202.84%	14.47%	-2.31%	-18.06%	-23.53%	56.45%	37.71%	-22.10%	4.53%
ACWI iShares MSCI ACWI ETF	11.28%	22.41%	17.45%	22.27%	-18.39%	18.66%	16.34%	26.59%	-9.19%	24.33%

Correlation

The correlation between SLVP and ACWI is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (3Y) Balances recent behavior with more history.	0.42
Correlation (5Y) Shows whether the relationship held over a longer period.	0.42
Correlation (10Y) Provides a long-term view across more market conditions.	0.34
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012	0.31

Over the past year, SLVP and ACWI have become more correlated (0.53) than their long-term average of 0.31, meaning their price movements have been converging.

SLVP vs. ACWI - Sectors Allocation Comparison

Sectors	SLVP	ACWI
Basic Materials	100.0%	3.4%
Financial Services	0.0%	16.0%
Communication Services	-	8.0%
Consumer Cyclical	-	8.7%
Consumer Defensive	-	4.7%
Energy	-	3.6%
Healthcare	-	8.3%
Industrials	-	10.8%
Real Estate	-	1.6%
Technology	-	32.7%
Utilities	-	2.4%

Return for Risk

SLVP vs. ACWI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SLVP

SLVP Risk / Return Rank: 50
SLVP Sharpe Ratio Rank: 55
SLVP Sortino Ratio Rank: 50
SLVP Omega Ratio Rank: 52
SLVP Calmar Ratio Rank: 53
SLVP Martin Ratio Rank: 38

ACWI

ACWI Risk / Return Rank: 71
ACWI Sharpe Ratio Rank: 71
ACWI Sortino Ratio Rank: 69
ACWI Omega Ratio Rank: 69
ACWI Calmar Ratio Rank: 67
ACWI Martin Ratio Rank: 77

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SLVP vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Silver and Metals Miners ETF (SLVP) and iShares MSCI ACWI ETF (ACWI). 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.

	SLVP	ACWI	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.59	-0.29
Sortino ratio: Return per unit of downside risk	1.77	2.23	-0.47
Omega ratio: Gain probability vs. loss probability	1.23	1.29	-0.06
Calmar ratio: Return relative to maximum drawdown	1.89	2.29	-0.41
Martin ratio: Return relative to average drawdown	3.87	9.58	-5.71

SLVP vs. ACWI - Sharpe Ratio Comparison

The current SLVP Sharpe Ratio is 1.30, which is comparable to the ACWI Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of SLVP and ACWI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SLVP vs. ACWI - Drawdown Comparison

The maximum SLVP drawdown since its inception was -80.47%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for SLVP and ACWI.

Drawdown Indicators

	SLVP	ACWI	Difference
Max Drawdown Largest peak-to-trough decline	-80.47%	-56.00%	-24.47%
Max Drawdown (1Y) Largest decline over 1 year	-38.97%	-9.73%	-29.24%
Max Drawdown (3Y) Largest decline over 3 years	-38.97%	-16.55%	-22.42%
Max Drawdown (5Y) Largest decline over 5 years	-47.73%	-26.42%	-21.31%
Max Drawdown (10Y) Largest decline over 10 years	-62.03%	-33.53%	-28.50%
Current Drawdown Current decline from peak	-37.22%	-1.58%	-35.64%
Average Drawdown Average peak-to-trough decline	-46.67%	-8.55%	-38.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.98%	2.33%	+16.65%

Volatility

SLVP vs. ACWI - Volatility Comparison

iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 14.39% compared to iShares MSCI ACWI ETF (ACWI) at 4.03%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLVP	ACWI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.39%	4.03%	+10.36%
Volatility (6M) Calculated over the trailing 6-month period	45.21%	11.71%	+33.50%
Volatility (1Y) Calculated over the trailing 1-year period	56.38%	14.01%	+42.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.62%	16.23%	+27.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.50%	17.06%	+25.44%

SLVP vs. ACWI - Expense Ratio Comparison

SLVP has a 0.39% expense ratio, which is higher than ACWI's 0.32% expense ratio.

Dividends

SLVP vs. ACWI - Dividend Comparison

SLVP's dividend yield for the trailing twelve months is around 2.37%, more than ACWI's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.44%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
SLVP iShares MSCI Global Silver and Metals Miners ETF	2.37%	1.78%	1.05%	0.88%	0.63%	1.63%	2.39%	2.03%	1.28%	0.85%	2.32%	0.72%

Frequently Asked Questions

Can I hold both SLVP and ACWI in my portfolio?

SLVP and ACWI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLVP or ACWI?

SLVP has higher volatility (14.39%) compared to ACWI (4.03%). In terms of maximum drawdown, SLVP dropped -80.47% vs ACWI's -56.00%.

Which ETF is better, SLVP or ACWI?

On 10-year performance, ACWI leads with 12.53% vs 7.89% for SLVP. On fees, ACWI is cheaper at 0.32% per year. On volatility, ACWI has been the lower-risk option at 4.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLVP or ACWI?

Over the 10-year period, ACWI has performed better with a 12.53% return vs 7.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLVP or ACWI?

ACWI is cheaper with a 0.32% expense ratio, compared with 0.39% for SLVP.

Which ETF pays a higher dividend yield, SLVP or ACWI?

SLVP has the higher dividend yield at 2.37%, compared with 1.44% for ACWI.

What is the main difference between SLVP and ACWI?

SLVP is categorized as Silver, while ACWI is Global Equities. SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.39% for SLVP and 0.32% for ACWI.

Which has better risk-adjusted returns?

ACWI currently has the higher Sharpe Ratio (1.59 vs 1.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.