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SLVP vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SLVP vs. QQQ

Last updated Jun 16, 2026

SLVP (iShares MSCI Global Silver and Metals Miners ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SLVP returned 13.10%/yr vs 22.31%/yr for QQQ. At a 0.21 correlation, their price movements are largely independent. SLVP charges 0.39%/yr vs 0.18%/yr for QQQ.

Performance

SLVP vs. QQQ - 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 Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SLVP achieves a 0.95% return, which is significantly lower than QQQ's 21.26% return. Over the past 10 years, SLVP has underperformed QQQ with an annualized return of 13.10%, while QQQ has yielded a comparatively higher 22.31% annualized return.

SLVP

1D
6.68%
1M
-5.16%
YTD
0.95%
6M
5.72%
1Y
93.96%
3Y*
52.67%
5Y*
16.28%
10Y*
13.10%

QQQ

1D
3.14%
1M
4.95%
YTD
21.26%
6M
22.17%
1Y
41.87%
3Y*
27.20%
5Y*
17.59%
10Y*
22.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SLVP vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SLVP
iShares MSCI Global Silver and Metals Miners ETF		0.95%202.84%14.47%-2.31%-18.06%-23.53%56.45%37.71%-22.10%4.53%
QQQ
Invesco QQQ ETF		21.26%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between SLVP and QQQ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

Correlation (3Y)
Calculated over the trailing 3-year period

0.30

Correlation (5Y)
Calculated over the trailing 5-year period

0.28

Correlation (10Y)
Calculated over the trailing 10-year period

0.23

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2012

0.21

Over the past year, SLVP and QQQ have become more correlated (0.42) than their long-term average of 0.21, meaning their price movements have been converging.

SLVP vs. QQQ - Sectors Allocation Comparison

Sectors
SLVP
QQQ

Basic Materials

99.6%
1.0%

Financial Services

0.0%
0.2%

Communication Services

-

14.3%

Consumer Cyclical

-

11.4%

Consumer Defensive

-

6.4%

Energy

-

0.5%

Healthcare

-

3.7%

Industrials

-

2.6%

Real Estate

-

0.1%

Technology

-

58.7%

Utilities

-

1.2%

Basic Materials

SLVP
99.6%
QQQ
1.0%

Financial Services

SLVP
0.0%
QQQ
0.2%

Communication Services

SLVP

-

QQQ
14.3%

Consumer Cyclical

SLVP

-

QQQ
11.4%

Consumer Defensive

SLVP

-

QQQ
6.4%

Energy

SLVP

-

QQQ
0.5%

Healthcare

SLVP

-

QQQ
3.7%

Industrials

SLVP

-

QQQ
2.6%

Real Estate

SLVP

-

QQQ
0.1%

Technology

SLVP

-

QQQ
58.7%

Utilities

SLVP

-

QQQ
1.2%

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iShares MSCI Global Silver and Metals Miners ETF

Invesco QQQ ETF

Often compared with SLVP:
SLVP vs. SLVSLVP vs. SILSLVP vs. SSLN.LSLVP vs. PSLVSLVP vs. SIVRSLVP vs. RINGSLVP vs. SLVR.DE
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

SLVP vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SLVP
SLVP Risk / Return Rank: 5050
Overall Rank
SLVP Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
SLVP Sortino Ratio Rank: 4646
Sortino Ratio Rank
SLVP Omega Ratio Rank: 4949
Omega Ratio Rank
SLVP Calmar Ratio Rank: 5555
Calmar Ratio Rank
SLVP Martin Ratio Rank: 4444
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7979
Overall Rank
QQQ Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7979
Sortino Ratio Rank
QQQ Omega Ratio Rank: 8181
Omega Ratio Rank
QQQ Calmar Ratio Rank: 7676
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7676
Martin Ratio Rank
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. QQQ - 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 Invesco QQQ ETF (QQQ). 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.

SLVPQQQDifference
Sharpe ratioReturn per unit of total volatility
1.72
2.42

-0.70

Sortino ratioReturn per unit of downside risk
2.09
3.12

-1.03

Omega ratioGain probability vs. loss probability

1.28

1.42

-0.14

Calmar ratioReturn relative to maximum drawdown

2.48

3.52

-1.03

Martin ratioReturn relative to average drawdown

6.54

13.12

-6.58

SLVP vs. QQQ - Sharpe Ratio Comparison

The current SLVP Sharpe Ratio is 1.72, which is comparable to the QQQ Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of SLVP and QQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SLVP vs. QQQ - Drawdown Comparison

The maximum SLVP drawdown since its inception was -80.47%, roughly equal to the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SLVP and QQQ.

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Drawdown Indicators

SLVPQQQDifference

Max Drawdown

Largest peak-to-trough decline

-80.47%

-82.97%

+2.50%

Max Drawdown (1Y)

Largest decline over 1 year

-38.06%

-11.96%

-26.10%

Max Drawdown (3Y)

Largest decline over 3 years

-38.06%

-22.77%

-15.29%

Max Drawdown (5Y)

Largest decline over 5 years

-49.79%

-35.12%

-14.67%

Max Drawdown (10Y)

Largest decline over 10 years

-62.03%

-35.12%

-26.91%

Current Drawdown

Current decline from peak

-27.18%

-0.29%

-26.89%

Average Drawdown

Average peak-to-trough decline

-46.77%

-32.75%

-14.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

14.41%

3.20%

+11.21%

Volatility

SLVP vs. QQQ - Volatility Comparison

iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 20.77% compared to Invesco QQQ ETF (QQQ) at 8.14%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SLVPQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

20.77%

8.14%

+12.63%

Volatility (6M)

Calculated over the trailing 6-month period

45.32%

14.12%

+31.20%

Volatility (1Y)

Calculated over the trailing 1-year period

55.01%

17.43%

+37.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

43.26%

22.59%

+20.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

42.48%

22.41%

+20.07%

SLVP vs. QQQ - Expense Ratio Comparison

SLVP has a 0.39% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

SLVP vs. QQQ - Dividend Comparison

SLVP's dividend yield for the trailing twelve months is around 2.17%, more than QQQ's 0.38% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.38%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
SLVP
iShares MSCI Global Silver and Metals Miners ETF		2.17%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 QQQ have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SLVP has higher volatility (20.77%) compared to QQQ (8.14%). In terms of maximum drawdown, SLVP dropped -80.47% vs QQQ's -82.97%.

On 10-year performance, QQQ leads with 22.31% vs 13.10% for SLVP. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 8.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 22.31% return vs 13.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.39% for SLVP.

SLVP has the higher dividend yield at 2.17%, compared with 0.38% for QQQ.

SLVP is categorized as Silver, while QQQ is Nasdaq-100. SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.39% for SLVP and 0.18% for QQQ.

QQQ currently has the higher Sharpe Ratio (2.42 vs 1.72), 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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