SLVP vs. NRJL.L

Last updated Jul 1, 2026

SLVP (iShares MSCI Global Silver and Metals Miners ETF) and NRJL.L (Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while NRJL.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 10 years, SLVP returned 9.87%/yr vs 9.77%/yr for NRJL.L. At a 0.27 correlation, their price movements are largely independent. SLVP charges 0.39%/yr vs 0.60%/yr for NRJL.L.

Performance

SLVP vs. NRJL.L - 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 Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SLVP is traded in USD, while NRJL.L is traded in GBP. To make them comparable, the NRJL.L 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 lower than NRJL.L's 36.22% return. Both investments have delivered pretty close results over the past 10 years, with SLVP having a 9.87% annualized return and NRJL.L not far behind at 9.77%.

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%

NRJL.L

• 1D: 2.10%
• 1M: -1.77%
• YTD: 36.22%
• 6M: 35.32%
• 1Y: 72.67%
• 3Y*: 12.73%
• 5Y*: 2.12%
• 10Y*: 9.77%

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

SLVP vs. NRJL.L - 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%
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist	36.22%	45.70%	-13.04%	-18.80%	-18.49%	-6.26%	37.17%	53.22%	-12.97%	26.13%

Correlation

The correlation between SLVP and NRJL.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012	0.27

The correlation between SLVP and NRJL.L shifts across timeframes, from 0.27 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.

SLVP vs. NRJL.L - Sectors Allocation Comparison

Sectors	SLVP	NRJL.L
Basic Materials	99.8%	10.8%
Financial Services	0.0%	0.0%
Communication Services	-	0.0%
Consumer Cyclical	-	0.2%
Consumer Defensive	-	0.0%
Energy	-	4.1%
Healthcare	-	0.0%
Industrials	-	39.4%
Real Estate	-	-
Technology	-	16.7%
Utilities	-	32.9%

Return for Risk

SLVP vs. NRJL.L — Risk / Return Rank

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

SLVP

SLVP Risk / Return Rank: 42
SLVP Sharpe Ratio Rank: 45
SLVP Sortino Ratio Rank: 39
SLVP Omega Ratio Rank: 41
SLVP Calmar Ratio Rank: 47
SLVP Martin Ratio Rank: 36

NRJL.L

NRJL.L Risk / Return Rank: 96
NRJL.L Sharpe Ratio Rank: 97
NRJL.L Sortino Ratio Rank: 95
NRJL.L Omega Ratio Rank: 95
NRJL.L Calmar Ratio Rank: 96
NRJL.L Martin Ratio Rank: 96

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. NRJL.L - 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 Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L). 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	NRJL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.39	3.26	-1.86
Sortino ratio: Return per unit of downside risk	1.83	3.89	-2.05
Omega ratio: Gain probability vs. loss probability	1.24	1.53	-0.29
Calmar ratio: Return relative to maximum drawdown	2.03	6.92	-4.89
Martin ratio: Return relative to average drawdown	4.88	22.97	-18.09

SLVP vs. NRJL.L - Sharpe Ratio Comparison

The current SLVP Sharpe Ratio is 1.39, which is lower than the NRJL.L Sharpe Ratio of 3.26. The chart below compares the historical Sharpe Ratios of SLVP and NRJL.L, 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. NRJL.L - Drawdown Comparison

The maximum SLVP drawdown since its inception was -80.47%, which is greater than NRJL.L's maximum drawdown of -57.04%. Use the drawdown chart below to compare losses from any high point for SLVP and NRJL.L.

Drawdown Indicators

	SLVP	NRJL.L	Difference
Max Drawdown Largest peak-to-trough decline	-80.47%	-57.04%	-23.43%
Max Drawdown (1Y) Largest decline over 1 year	-38.06%	-10.45%	-27.61%
Max Drawdown (3Y) Largest decline over 3 years	-38.06%	-39.74%	+1.68%
Max Drawdown (5Y) Largest decline over 5 years	-48.01%	-56.16%	+8.15%
Max Drawdown (10Y) Largest decline over 10 years	-62.03%	-57.04%	-4.99%
Current Drawdown Current decline from peak	-34.83%	-3.29%	-31.54%
Average Drawdown Average peak-to-trough decline	-46.74%	-28.42%	-18.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.80%	3.15%	+12.65%

Volatility

SLVP vs. NRJL.L - Volatility Comparison

iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 19.38% compared to Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L) at 9.76%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than NRJL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLVP	NRJL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.38%	9.76%	+9.62%
Volatility (6M) Calculated over the trailing 6-month period	45.84%	18.71%	+27.13%
Volatility (1Y) Calculated over the trailing 1-year period	55.46%	22.20%	+33.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.37%	24.34%	+19.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.51%	23.74%	+18.77%

SLVP vs. NRJL.L - Expense Ratio Comparison

SLVP has a 0.39% expense ratio, which is lower than NRJL.L's 0.60% expense ratio.

Dividends

SLVP vs. NRJL.L - Dividend Comparison

SLVP's dividend yield for the trailing twelve months is around 2.28%, more than NRJL.L's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist	0.30%	0.42%	0.73%	0.77%	0.24%	0.32%	0.70%	1.02%	0.59%	0.79%	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

Can I hold both SLVP and NRJL.L in my portfolio?

SLVP and NRJL.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLVP or NRJL.L?

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.

Which ETF is cheaper, SLVP or NRJL.L?

SLVP is cheaper with a 0.39% expense ratio, compared with 0.60% for NRJL.L.

What is the main difference between SLVP and NRJL.L?

SLVP is categorized as Silver, while NRJL.L is Energy Equities. SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while NRJL.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.39% for SLVP and 0.60% for NRJL.L.