SLVP vs. MNS.TO
SLVP (iShares MSCI Global Silver and Metals Miners ETF) and MNS.TO (Royal Canadian Mint - Canadian Silver Reserves) are both Silver funds - SLVP tracks the MSCI ACWI Select Silver Miners Investable Market Index while MNS.TO tracks the N/A (Physical Bullion). Both are passively managed. Over the past 5 years, SLVP returned 16.22%/yr vs 16.91%/yr for MNS.TO. A 0.54 correlation means they provide meaningful diversification when combined. SLVP charges 0.39%/yr vs 0.45%/yr for MNS.TO.
Performance
SLVP vs. MNS.TO - Performance Comparison
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Different Trading Currencies
SLVP is traded in USD, while MNS.TO is traded in CAD. To make them comparable, the MNS.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SLVP achieves a -9.65% return, which is significantly higher than MNS.TO's -25.76% return.
SLVP
- 1D
- -0.42%
- 1M
- -16.43%
- YTD
- -9.65%
- 6M
- -11.21%
- 1Y
- 76.85%
- 3Y*
- 49.15%
- 5Y*
- 16.22%
- 10Y*
- 9.87%
MNS.TO
- 1D
- 2.77%
- 1M
- -20.90%
- YTD
- -25.76%
- 6M
- -29.21%
- 1Y
- 59.09%
- 3Y*
- 39.00%
- 5Y*
- 16.91%
- 10Y*
- —
SLVP vs. MNS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLVP iShares MSCI Global Silver and Metals Miners ETF | -9.65% | 202.84% | 14.47% | -2.31% | -18.06% | -23.53% | 56.45% | 37.71% | -22.10% | 4.53% |
MNS.TO Royal Canadian Mint - Canadian Silver Reserves | -25.76% | 173.61% | 30.67% | -3.55% | -1.01% | -15.42% | 49.24% | 14.57% | -9.28% | 5.52% |
Correlation
The correlation between SLVP and MNS.TO is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2016 | 0.54 |
The correlation between SLVP and MNS.TO shifts across timeframes, from 0.54 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SLVP vs. MNS.TO — Risk / Return Rank
SLVP
MNS.TO
SLVP vs. MNS.TO - 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 Royal Canadian Mint - Canadian Silver Reserves (MNS.TO). 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 | MNS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 1.20 | +0.83 |
| Martin ratioReturn relative to average drawdown | 4.88 | 2.80 | +2.07 |
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Drawdowns
SLVP vs. MNS.TO - Drawdown Comparison
The maximum SLVP drawdown since its inception was -80.47%, which is greater than MNS.TO's maximum drawdown of -49.67%. Use the drawdown chart below to compare losses from any high point for SLVP and MNS.TO.
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Drawdown Indicators
| SLVP | MNS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.47% | -49.67% | -30.80% |
Max Drawdown (1Y)Largest decline over 1 year | -38.06% | -49.67% | +11.61% |
Max Drawdown (3Y)Largest decline over 3 years | -38.06% | -49.67% | +11.61% |
Max Drawdown (5Y)Largest decline over 5 years | -48.01% | -49.67% | +1.66% |
Max Drawdown (10Y)Largest decline over 10 years | -62.03% | — | — |
Current DrawdownCurrent decline from peak | -34.83% | -45.50% | +10.67% |
Average DrawdownAverage peak-to-trough decline | -46.74% | -17.27% | -29.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.80% | 21.13% | -5.33% |
Volatility
SLVP vs. MNS.TO - Volatility Comparison
iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 19.38% compared to Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) at 14.87%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than MNS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLVP | MNS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.38% | 14.87% | +4.51% |
Volatility (6M)Calculated over the trailing 6-month period | 45.84% | 52.95% | -7.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.46% | 56.45% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.37% | 35.25% | +8.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.51% | 31.97% | +10.54% |
SLVP vs. MNS.TO - Expense Ratio Comparison
SLVP has a 0.39% expense ratio, which is lower than MNS.TO's 0.45% expense ratio.
Dividends
SLVP vs. MNS.TO - Dividend Comparison
SLVP's dividend yield for the trailing twelve months is around 2.28%, while MNS.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNS.TO Royal Canadian Mint - Canadian Silver Reserves | 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 | 2.28% | 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 MNS.TO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SLVP is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SLVP is cheaper with a 0.39% expense ratio, compared with 0.45% for MNS.TO.
SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while MNS.TO tracks N/A (Physical Bullion). They also come from different issuers: iShares and Royal Canadian Mint. Their fees differ too: 0.39% for SLVP and 0.45% for MNS.TO.
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