SLVP vs. PSLV
SLVP (iShares MSCI Global Silver and Metals Miners ETF) and PSLV (Sprott Physical Silver Trust) are both Silver funds - SLVP tracks the MSCI ACWI Select Silver Miners Investable Market Index while PSLV tracks the No Index (Physical Silver). Both are passively managed. Over the past 10 years, SLVP returned 7.89%/yr vs 8.96%/yr for PSLV. Their 0.73 correlation means they have sometimes moved together and sometimes differently. SLVP charges 0.39%/yr vs 0.51%/yr for PSLV.
Performance
SLVP vs. PSLV - Performance Comparison
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Returns By Period
In the year-to-date period, SLVP achieves a -12.97% return, which is significantly higher than PSLV's -20.51% return. Over the past 10 years, SLVP has underperformed PSLV with an annualized return of 7.89%, while PSLV has yielded a comparatively higher 8.96% annualized return.
SLVP
- 1D
- -3.63%
- 1M
- -7.59%
- 6M
- -22.73%
- YTD
- -12.97%
- 1Y
- 72.99%
- 3Y*
- 45.49%
- 5Y*
- 16.22%
- 10Y*
- 7.89%
- ALL TIME*
- 2.52%
PSLV
- 1D
- -1.98%
- 1M
- -3.34%
- 6M
- -28.81%
- YTD
- -20.51%
- 1Y
- 50.16%
- 3Y*
- 31.33%
- 5Y*
- 16.13%
- 10Y*
- 8.96%
- ALL TIME*
- 4.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $153.19M | $135.68M | $193.34M | |
| $7.13M | $7.08M | $11.62M |
SLVP vs. PSLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLVP iShares MSCI Global Silver and Metals Miners ETF | -12.97% | 202.84% | 14.47% | -2.31% | -18.06% | -23.53% | 56.45% | 37.71% | -22.10% | 4.53% |
PSLV Sprott Physical Silver Trust | -20.51% | 145.08% | 19.43% | -1.94% | 2.74% | -14.13% | 42.81% | 16.99% | -11.83% | 4.28% |
Correlation
The correlation between SLVP and PSLV is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | 0.73 |
The correlation between SLVP and PSLV has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.
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Return for Risk
SLVP vs. PSLV — Risk / Return Rank
SLVP
PSLV
SLVP vs. PSLV - 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 Physical Silver Trust (PSLV). 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 | PSLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.02 | +0.87 |
| Martin ratioReturn relative to average drawdown | 3.87 | 1.99 | +1.88 |
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Drawdowns
SLVP vs. PSLV - Drawdown Comparison
The maximum SLVP drawdown since its inception was -80.47%, roughly equal to the maximum PSLV drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for SLVP and PSLV.
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Drawdown Indicators
| SLVP | PSLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.47% | -79.38% | -1.09% |
Max Drawdown (1Y)Largest decline over 1 year | -38.97% | -50.83% | +11.86% |
Max Drawdown (3Y)Largest decline over 3 years | -38.97% | -50.83% | +11.86% |
Max Drawdown (5Y)Largest decline over 5 years | -47.73% | -50.83% | +3.10% |
Max Drawdown (10Y)Largest decline over 10 years | -62.03% | -50.83% | -11.20% |
Current DrawdownCurrent decline from peak | -37.22% | -48.29% | +11.07% |
Average DrawdownAverage peak-to-trough decline | -46.67% | -58.02% | +11.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.98% | 25.92% | -6.94% |
Volatility
SLVP vs. PSLV - Volatility Comparison
iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 14.39% compared to Sprott Physical Silver Trust (PSLV) at 11.59%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than PSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLVP | PSLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.39% | 11.59% | +2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 45.21% | 55.13% | -9.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.38% | 61.20% | -4.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.62% | 36.54% | +7.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.50% | 31.54% | +10.96% |
SLVP vs. PSLV - Expense Ratio Comparison
SLVP has a 0.39% expense ratio, which is lower than PSLV's 0.51% expense ratio.
Dividends
SLVP vs. PSLV - Dividend Comparison
SLVP's dividend yield for the trailing twelve months is around 2.37%, while PSLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSLV Sprott Physical Silver Trust | 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 | 2.37% | 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 PSLV have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLVP has higher volatility (14.39%) compared to PSLV (11.59%). In terms of maximum drawdown, SLVP dropped -80.47% vs PSLV's -79.38%.
On 10-year performance, PSLV leads with 8.96% vs 7.89% for SLVP. On fees, SLVP is cheaper at 0.39% per year. On volatility, PSLV has been the lower-risk option at 11.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSLV has performed better with a 8.96% return vs 7.89%. 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 0.51% for PSLV.
SLVP has the higher dividend yield at 2.37%, compared with 0.00% for PSLV.
SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while PSLV tracks No Index (Physical Silver). They also come from different issuers: iShares and Sprott. Their fees differ too: 0.39% for SLVP and 0.51% for PSLV.
SLVP currently has the higher Sharpe Ratio (1.30 vs 0.84), 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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