SLVP vs. AVGX
SLVP (iShares MSCI Global Silver and Metals Miners ETF) and AVGX (Defiance Daily Target 2X Long AVGO ETF) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while AVGX is a Leveraged Equities fund actively managed by Defiance. SLVP is passively managed, while AVGX is actively managed. Over the past year, SLVP returned 83.53% vs 58.36% for AVGX. At a 0.28 correlation, their price movements are largely independent. SLVP charges 0.39%/yr vs 1.29%/yr for AVGX.
Performance
SLVP vs. AVGX - Performance Comparison
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Returns By Period
In the year-to-date period, SLVP achieves a -5.37% return, which is significantly lower than AVGX's 3.39% return.
SLVP
- 1D
- 3.38%
- 1M
- -21.72%
- YTD
- -5.37%
- 6M
- -0.60%
- 1Y
- 83.53%
- 3Y*
- 48.97%
- 5Y*
- 14.15%
- 10Y*
- 12.67%
AVGX
- 1D
- -1.88%
- 1M
- -20.84%
- YTD
- 3.39%
- 6M
- -5.26%
- 1Y
- 58.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLVP vs. AVGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SLVP iShares MSCI Global Silver and Metals Miners ETF | -5.37% | 202.84% | -10.80% |
AVGX Defiance Daily Target 2X Long AVGO ETF | 3.39% | 46.98% | 54.13% |
Correlation
The correlation between SLVP and AVGX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024 | 0.28 |
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Return for Risk
SLVP vs. AVGX — Risk / Return Rank
SLVP
AVGX
SLVP vs. AVGX - 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 Defiance Daily Target 2X Long AVGO ETF (AVGX). 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 | AVGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.19 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 1.08 | +1.12 |
| Martin ratioReturn relative to average drawdown | 5.86 | 2.35 | +3.51 |
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Drawdowns
SLVP vs. AVGX - Drawdown Comparison
The maximum SLVP drawdown since its inception was -80.47%, which is greater than AVGX's maximum drawdown of -70.97%. Use the drawdown chart below to compare losses from any high point for SLVP and AVGX.
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Drawdown Indicators
| SLVP | AVGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.47% | -70.97% | -9.50% |
Max Drawdown (1Y)Largest decline over 1 year | -38.06% | -54.09% | +16.03% |
Max Drawdown (3Y)Largest decline over 3 years | -38.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -54.26% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.03% | — | — |
Current DrawdownCurrent decline from peak | -31.74% | -39.65% | +7.91% |
Average DrawdownAverage peak-to-trough decline | -46.78% | -23.11% | -23.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.31% | 24.90% | -10.59% |
Volatility
SLVP vs. AVGX - Volatility Comparison
The current volatility for iShares MSCI Global Silver and Metals Miners ETF (SLVP) is 19.61%, while Defiance Daily Target 2X Long AVGO ETF (AVGX) has a volatility of 42.68%. This indicates that SLVP experiences smaller price fluctuations and is considered to be less risky than AVGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLVP | AVGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.61% | 42.68% | -23.07% |
Volatility (6M)Calculated over the trailing 6-month period | 45.17% | 71.57% | -26.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.53% | 91.19% | -36.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.15% | 106.96% | -63.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.45% | 106.96% | -64.51% |
SLVP vs. AVGX - Expense Ratio Comparison
SLVP has a 0.39% expense ratio, which is lower than AVGX's 1.29% expense ratio.
Dividends
SLVP vs. AVGX - Dividend Comparison
SLVP's dividend yield for the trailing twelve months is around 1.88%, more than AVGX's 1.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVGX Defiance Daily Target 2X Long AVGO ETF | 1.60% | 1.65% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLVP iShares MSCI Global Silver and Metals Miners ETF | 1.88% | 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
SLVP and AVGX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVGX has higher volatility (42.68%) compared to SLVP (19.61%). In terms of maximum drawdown, SLVP dropped -80.47% vs AVGX's -70.97%.
On 1-year performance, SLVP leads with 83.53% vs 58.36% for AVGX. On fees, SLVP is cheaper at 0.39% per year. On volatility, SLVP has been the lower-risk option at 19.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SLVP has performed better with a 83.53% return vs 58.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVP is cheaper with a 0.39% expense ratio, compared with 1.29% for AVGX.
SLVP has the higher dividend yield at 1.88%, compared with 1.60% for AVGX.
SLVP is categorized as Silver, while AVGX is Leveraged Equities. They also come from different issuers: iShares and Defiance. Their fees differ too: 0.39% for SLVP and 1.29% for AVGX.
SLVP currently has the higher Sharpe Ratio (1.54 vs 0.64), 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.
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