SLVP vs. IAUM
SLVP (iShares MSCI Global Silver and Metals Miners ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, SLVP returned 48.97%/yr vs 29.28%/yr for IAUM. A 0.72 correlation means they provide meaningful diversification when combined. SLVP charges 0.39%/yr vs 0.09%/yr for IAUM.
Performance
SLVP vs. IAUM - 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 IAUM's -2.40% return.
SLVP
- 1D
- 3.38%
- 1M
- -11.10%
- YTD
- -5.37%
- 6M
- -0.60%
- 1Y
- 81.81%
- 3Y*
- 48.97%
- 5Y*
- 14.15%
- 10Y*
- 12.67%
IAUM
- 1D
- 0.10%
- 1M
- -7.37%
- YTD
- -2.40%
- 6M
- -2.08%
- 1Y
- 22.55%
- 3Y*
- 29.28%
- 5Y*
- —
- 10Y*
- —
SLVP vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SLVP iShares MSCI Global Silver and Metals Miners ETF | -5.37% | 202.84% | 14.47% | -2.31% | -18.06% | -15.10% |
IAUM iShares Gold Trust Micro | -2.40% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between SLVP and IAUM is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.72 |
The correlation between SLVP and IAUM has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.
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Return for Risk
SLVP vs. IAUM — Risk / Return Rank
SLVP
IAUM
SLVP vs. IAUM - 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 Gold Trust Micro (IAUM). 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 | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.19 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 1.00 | +1.21 |
| Martin ratioReturn relative to average drawdown | 5.86 | 2.87 | +2.99 |
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Drawdowns
SLVP vs. IAUM - Drawdown Comparison
The maximum SLVP drawdown since its inception was -80.47%, which is greater than IAUM's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for SLVP and IAUM.
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Drawdown Indicators
| SLVP | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.47% | -24.37% | -56.10% |
Max Drawdown (1Y)Largest decline over 1 year | -38.06% | -24.37% | -13.69% |
Max Drawdown (3Y)Largest decline over 3 years | -38.06% | -24.37% | -13.69% |
Max Drawdown (5Y)Largest decline over 5 years | -52.84% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.03% | — | — |
Current DrawdownCurrent decline from peak | -31.74% | -21.99% | -9.75% |
Average DrawdownAverage peak-to-trough decline | -46.78% | -5.38% | -41.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.31% | 8.46% | +5.85% |
Volatility
SLVP vs. IAUM - Volatility Comparison
iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 19.61% compared to iShares Gold Trust Micro (IAUM) at 7.71%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLVP | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.61% | 7.71% | +11.90% |
Volatility (6M)Calculated over the trailing 6-month period | 45.17% | 23.82% | +21.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.53% | 27.06% | +27.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.15% | 18.05% | +25.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.45% | 18.05% | +24.40% |
SLVP vs. IAUM - Expense Ratio Comparison
SLVP has a 0.39% expense ratio, which is higher than IAUM's 0.09% expense ratio.
Dividends
SLVP vs. IAUM - Dividend Comparison
SLVP's dividend yield for the trailing twelve months is around 1.88%, while IAUM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | 0.00% | 0.00% | 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 | 1.88% | 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 IAUM have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLVP has higher volatility (19.61%) compared to IAUM (7.71%). In terms of maximum drawdown, SLVP dropped -80.47% vs IAUM's -24.37%.
On 3-year performance, SLVP leads with 48.97% vs 29.28% for IAUM. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 7.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SLVP has performed better with a 48.97% return vs 29.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 0.39% for SLVP.
SLVP has the higher dividend yield at 1.88%, compared with 0.00% for IAUM.
SLVP is categorized as Silver, while IAUM is Gold. SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while IAUM tracks LBMA Gold Price PM. Their fees differ too: 0.39% for SLVP and 0.09% for IAUM.
SLVP currently has the higher Sharpe Ratio (1.54 vs 0.90), 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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