SLVP vs. GBUG
SLVP (iShares MSCI Global Silver and Metals Miners ETF) and GBUG (Sprott Active Gold & Silver Miners ETF) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while GBUG is a Gold fund actively managed by Sprott. SLVP is passively managed, while GBUG is actively managed. Over the past year, SLVP returned 112.07% vs 61.69% for GBUG. Their correlation of 0.93 suggests significant overlap in exposure. SLVP charges 0.39%/yr vs 0.89%/yr for GBUG.
Performance
SLVP vs. GBUG - Performance Comparison
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Returns By Period
In the year-to-date period, SLVP achieves a 2.25% return, which is significantly higher than GBUG's -2.59% return.
SLVP
- 1D
- -5.14%
- 1M
- 1.42%
- YTD
- 2.25%
- 6M
- 13.09%
- 1Y
- 112.07%
- 3Y*
- 52.07%
- 5Y*
- 15.97%
- 10Y*
- 13.67%
GBUG
- 1D
- -3.86%
- 1M
- -0.28%
- YTD
- -2.59%
- 6M
- 6.69%
- 1Y
- 61.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLVP vs. GBUG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SLVP iShares MSCI Global Silver and Metals Miners ETF | 2.25% | 148.21% |
GBUG Sprott Active Gold & Silver Miners ETF | -2.59% | 119.00% |
Correlation
The correlation between SLVP and GBUG is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025 | 0.93 |
The correlation between SLVP and GBUG has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.
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Return for Risk
SLVP vs. GBUG — Risk / Return Rank
SLVP
GBUG
SLVP vs. GBUG - 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 Sprott Active Gold & Silver Miners ETF (GBUG). 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.
| SLVP | GBUG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.24 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 1.93 | +1.43 |
| Martin ratioReturn relative to average drawdown | 8.53 | 4.98 | +3.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLVP | GBUG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 1.30 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 1.71 | -1.62 |
Drawdowns
SLVP vs. GBUG - Drawdown Comparison
The maximum SLVP drawdown since its inception was -80.47%, which is greater than GBUG's maximum drawdown of -32.10%. Use the drawdown chart below to compare losses from any high point for SLVP and GBUG.
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Drawdown Indicators
| SLVP | GBUG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.47% | -32.10% | -48.37% |
Max Drawdown (1Y)Largest decline over 1 year | -33.57% | -32.10% | -1.47% |
Max Drawdown (3Y)Largest decline over 3 years | -33.57% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -54.78% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.03% | — | — |
Current DrawdownCurrent decline from peak | -26.25% | -26.84% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -46.82% | -7.62% | -39.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.18% | 12.42% | +0.76% |
Volatility
SLVP vs. GBUG - Volatility Comparison
iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 17.59% compared to Sprott Active Gold & Silver Miners ETF (GBUG) at 15.39%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than GBUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLVP | GBUG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.59% | 15.39% | +2.20% |
Volatility (6M)Calculated over the trailing 6-month period | 43.22% | 39.40% | +3.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.06% | 47.61% | +5.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.76% | 47.38% | -4.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.24% | 47.38% | -5.14% |
SLVP vs. GBUG - Expense Ratio Comparison
SLVP has a 0.39% expense ratio, which is lower than GBUG's 0.89% expense ratio.
Dividends
SLVP vs. GBUG - Dividend Comparison
SLVP's dividend yield for the trailing twelve months is around 1.74%, more than GBUG's 1.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBUG Sprott Active Gold & Silver Miners ETF | 1.60% | 1.56% | 0.00% | 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 | 1.74% | 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
With a correlation of 0.93, SLVP and GBUG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SLVP has higher volatility (17.59%) compared to GBUG (15.39%). In terms of maximum drawdown, SLVP dropped -80.47% vs GBUG's -32.10%.
On 1-year performance, SLVP leads with 112.07% vs 61.69% for GBUG. On fees, SLVP is cheaper at 0.39% per year. On volatility, GBUG has been the lower-risk option at 15.39%. 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 112.07% return vs 61.69%. 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 0.89% for GBUG.
SLVP has the higher dividend yield at 1.74%, compared with 1.60% for GBUG.
SLVP is categorized as Silver, while GBUG is Gold. They also come from different issuers: iShares and Sprott. Their fees differ too: 0.39% for SLVP and 0.89% for GBUG.
SLVP currently has the higher Sharpe Ratio (2.12 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.
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