SLVP vs. IBIT

Last updated Jul 14, 2026

SLVP (iShares MSCI Global Silver and Metals Miners ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, SLVP returned 63.16% vs -47.60% for IBIT. At a 0.22 correlation, their price movements are largely independent. SLVP charges 0.39%/yr vs 0.25%/yr for IBIT.

Performance

SLVP vs. IBIT - 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 Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLVP achieves a -12.53% return, which is significantly higher than IBIT's -29.06% return.

SLVP

• 1D: -3.43%
• 1M: -7.56%
• 6M: -24.45%
• YTD: -12.53%
• 1Y: 63.16%
• 3Y*: 43.71%
• 5Y*: 15.93%
• 10Y*: 8.74%

IBIT

• 1D: -2.79%
• 1M: -2.28%
• 6M: -32.10%
• YTD: -29.06%
• 1Y: -47.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLVP vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SLVP iShares MSCI Global Silver and Metals Miners ETF	-12.53%	202.84%	23.06%
IBIT iShares Bitcoin Trust ETF	-29.06%	-6.41%	89.87%

Correlation

The correlation between SLVP and IBIT is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.22

Return for Risk

SLVP vs. IBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SLVP

SLVP Risk / Return Rank: 38
SLVP Sharpe Ratio Rank: 40
SLVP Sortino Ratio Rank: 38
SLVP Omega Ratio Rank: 39
SLVP Calmar Ratio Rank: 41
SLVP Martin Ratio Rank: 32

IBIT

IBIT Risk / Return Rank: 1
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 1
IBIT Omega Ratio Rank: 1
IBIT Calmar Ratio Rank: 1
IBIT Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SLVP vs. IBIT - 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 Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.14	-1.08	+2.22
Sortino ratio: Return per unit of downside risk	1.62	-1.65	+3.28
Omega ratio: Gain probability vs. loss probability	1.21	0.82	+0.39
Calmar ratio: Return relative to maximum drawdown	1.67	-0.90	+2.56
Martin ratio: Return relative to average drawdown	3.74	-1.46	+5.19

SLVP vs. IBIT - Sharpe Ratio Comparison

The current SLVP Sharpe Ratio is 1.14, which is higher than the IBIT Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of SLVP and IBIT, 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. IBIT - Drawdown Comparison

The maximum SLVP drawdown since its inception was -80.47%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for SLVP and IBIT.

Drawdown Indicators

	SLVP	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-80.47%	-53.30%	-27.17%
Max Drawdown (1Y) Largest decline over 1 year	-38.06%	-53.30%	+15.24%
Max Drawdown (3Y) Largest decline over 3 years	-38.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.03%	—	—
Current Drawdown Current decline from peak	-36.90%	-50.60%	+13.70%
Average Drawdown Average peak-to-trough decline	-46.71%	-17.56%	-29.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.96%	32.72%	-15.76%

Volatility

SLVP vs. IBIT - Volatility Comparison

iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 16.58% compared to iShares Bitcoin Trust ETF (IBIT) at 11.51%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLVP	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.58%	11.51%	+5.07%
Volatility (6M) Calculated over the trailing 6-month period	45.62%	34.79%	+10.83%
Volatility (1Y) Calculated over the trailing 1-year period	55.80%	44.38%	+11.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.48%	49.97%	-6.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.50%	49.97%	-7.47%

SLVP vs. IBIT - Expense Ratio Comparison

SLVP has a 0.39% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

SLVP vs. IBIT - Dividend Comparison

SLVP's dividend yield for the trailing twelve months is around 2.36%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBIT iShares Bitcoin Trust ETF	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	2.36%	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 IBIT in my portfolio?

SLVP and IBIT have a correlation of 0.31, 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 IBIT?

SLVP has higher volatility (16.58%) compared to IBIT (11.51%). In terms of maximum drawdown, SLVP dropped -80.47% vs IBIT's -53.30%.

Which ETF is better, SLVP or IBIT?

On 1-year performance, SLVP leads with 63.16% vs -47.60% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 11.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLVP or IBIT?

Over the 1-year period, SLVP has performed better with a 63.16% return vs -47.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLVP or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.39% for SLVP.

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

SLVP has the higher dividend yield at 2.36%, compared with 0.00% for IBIT.

What is the main difference between SLVP and IBIT?

SLVP is categorized as Silver, while IBIT is Cryptocurrency. SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.39% for SLVP and 0.25% for IBIT.

Which has better risk-adjusted returns?

SLVP currently has the higher Sharpe Ratio (1.14 vs -1.08), 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.