SLVP vs. SLVR

Last updated Jun 4, 2026

SLVP (iShares MSCI Global Silver and Metals Miners ETF) and SLVR (Sprott Silver Miners & Physical Silver ETF) are both Silver funds - SLVP tracks the MSCI ACWI Select Silver Miners Investable Market Index while SLVR tracks the Nasdaq Sprott Silver Miners™ Index. Both are passively managed. Over the past year, SLVP returned 112.07% vs 118.11% for SLVR. With a 0.95 correlation, they move nearly in lockstep. SLVP charges 0.39%/yr vs 0.65%/yr for SLVR.

Performance

SLVP vs. SLVR - 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 Sprott Silver Miners & Physical Silver ETF (SLVR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLVP achieves a 2.25% return, which is significantly lower than SLVR's 6.80% return.

SLVP

• 1D: -5.14%
• 1M: 1.42%
• YTD: 2.25%
• 6M: 13.09%
• 1Y: 112.07%
• 3Y*: 52.07%
• 5Y*: 15.97%
• 10Y*: 13.67%

SLVR

• 1D: -5.47%
• 1M: 1.96%
• YTD: 6.80%
• 6M: 18.93%
• 1Y: 118.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLVP vs. SLVR - Yearly Performance Comparison

	2026 (YTD)	2025
SLVP iShares MSCI Global Silver and Metals Miners ETF	2.25%	181.16%
SLVR Sprott Silver Miners & Physical Silver ETF	6.80%	170.44%

Correlation

The correlation between SLVP and SLVR is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025	0.95

The correlation between SLVP and SLVR has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

SLVP vs. SLVR — Risk / Return Rank

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

SLVP

SLVP Risk / Return Rank: 55
SLVP Sharpe Ratio Rank: 62
SLVP Sortino Ratio Rank: 48
SLVP Omega Ratio Rank: 51
SLVP Calmar Ratio Rank: 66
SLVP Martin Ratio Rank: 50

SLVR

SLVR Risk / Return Rank: 51
SLVR Sharpe Ratio Rank: 56
SLVR Sortino Ratio Rank: 45
SLVR Omega Ratio Rank: 48
SLVR Calmar Ratio Rank: 62
SLVR Martin Ratio Rank: 46

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. SLVR - 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 Silver Miners & Physical Silver ETF (SLVR). 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.

	SLVP	SLVR	Difference
Sharpe ratio Return per unit of total volatility	2.12	1.93	+0.20
Sortino ratio Return per unit of downside risk	2.40	2.25	+0.16
Omega ratio Gain probability vs. loss probability	1.33	1.31	+0.02
Calmar ratio Return relative to maximum drawdown	3.36	3.08	+0.28
Martin ratio Return relative to average drawdown	8.53	7.66	+0.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLVP vs. SLVR - Sharpe Ratio Comparison

The current SLVP Sharpe Ratio is 2.12, which is comparable to the SLVR Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of SLVP and SLVR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SLVP	SLVR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	1.93	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	2.02	-1.93

Drawdowns

SLVP vs. SLVR - Drawdown Comparison

The maximum SLVP drawdown since its inception was -80.47%, which is greater than SLVR's maximum drawdown of -38.60%. Use the drawdown chart below to compare losses from any high point for SLVP and SLVR.

Drawdown Indicators

	SLVP	SLVR	Difference
Max Drawdown Largest peak-to-trough decline	-80.47%	-38.60%	-41.87%
Max Drawdown (1Y) Largest decline over 1 year	-33.57%	-38.60%	+5.03%
Max Drawdown (3Y) Largest decline over 3 years	-33.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-54.78%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.03%	—	—
Current Drawdown Current decline from peak	-26.25%	-28.51%	+2.26%
Average Drawdown Average peak-to-trough decline	-46.82%	-9.24%	-37.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.18%	15.47%	-2.29%

Volatility

SLVP vs. SLVR - Volatility Comparison

The current volatility for iShares MSCI Global Silver and Metals Miners ETF (SLVP) is 17.59%, while Sprott Silver Miners & Physical Silver ETF (SLVR) has a volatility of 19.31%. This indicates that SLVP experiences smaller price fluctuations and is considered to be less risky than SLVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLVP	SLVR	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.59%	19.31%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	43.22%	51.02%	-7.80%
Volatility (1Y) Calculated over the trailing 1-year period	53.06%	61.64%	-8.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.76%	57.85%	-15.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.24%	57.85%	-15.61%

SLVP vs. SLVR - Expense Ratio Comparison

SLVP has a 0.39% expense ratio, which is lower than SLVR's 0.65% expense ratio.

Dividends

SLVP vs. SLVR - Dividend Comparison

SLVP's dividend yield for the trailing twelve months is around 1.74%, less than SLVR's 3.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SLVP iShares MSCI Global Silver and Metals Miners ETF	1.74%	1.78%	1.05%	0.88%	0.63%	1.63%	2.39%	2.03%	1.28%	0.85%	2.32%	0.72%
SLVR Sprott Silver Miners & Physical Silver ETF	3.45%	3.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SLVP and SLVR in my portfolio?

With a correlation of 0.96, SLVP and SLVR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SLVP or SLVR?

SLVR has higher volatility (19.31%) compared to SLVP (17.59%). In terms of maximum drawdown, SLVP dropped -80.47% vs SLVR's -38.60%.

Which ETF is better, SLVP or SLVR?

On 1-year performance, SLVR leads with 118.11% vs 112.07% for SLVP. On fees, SLVP is cheaper at 0.39% per year. On volatility, SLVP has been the lower-risk option at 17.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLVP or SLVR?

Over the 1-year period, SLVR has performed better with a 118.11% return vs 112.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLVP or SLVR?

SLVP is cheaper with a 0.39% expense ratio, compared with 0.65% for SLVR.

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

SLVR has the higher dividend yield at 3.45%, compared with 1.74% for SLVP.

What is the main difference between SLVP and SLVR?

SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while SLVR tracks Nasdaq Sprott Silver Miners™ Index. They also come from different issuers: iShares and Sprott. Their fees differ too: 0.39% for SLVP and 0.65% for SLVR.

Which has better risk-adjusted returns?

SLVP currently has the higher Sharpe Ratio (2.12 vs 1.93), 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.