SLVP vs. TLT
SLVP (iShares MSCI Global Silver and Metals Miners ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, SLVP returned 7.89%/yr vs -2.38%/yr for TLT. Their 0.12 correlation means their historical movements had little consistent relationship. SLVP charges 0.39%/yr vs 0.15%/yr for TLT.
Performance
SLVP vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SLVP achieves a -12.97% return, which is significantly lower than TLT's -3.49% return. Over the past 10 years, SLVP has outperformed TLT with an annualized return of 7.89%, while TLT has yielded a comparatively lower -2.38% 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%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.13M | $7.08M | $11.62M | |
| $2.33B | $2.02B | $2.19B |
SLVP vs. TLT - 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% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between SLVP and TLT is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.17 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | 0.12 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SLVP vs. TLT — Risk / Return Rank
SLVP
TLT
SLVP vs. TLT - 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 iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.99 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | -0.14 | +2.03 |
| Martin ratioReturn relative to average drawdown | 3.87 | -0.30 | +4.17 |
Loading charts...
Drawdowns
SLVP vs. TLT - Drawdown Comparison
The maximum SLVP drawdown since its inception was -80.47%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for SLVP and TLT.
Loading charts...
Drawdown Indicators
| SLVP | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.47% | -48.35% | -32.12% |
Max Drawdown (1Y)Largest decline over 1 year | -38.97% | -7.74% | -31.23% |
Max Drawdown (3Y)Largest decline over 3 years | -38.97% | -14.79% | -24.18% |
Max Drawdown (5Y)Largest decline over 5 years | -47.73% | -43.70% | -4.03% |
Max Drawdown (10Y)Largest decline over 10 years | -62.03% | -48.35% | -13.68% |
Current DrawdownCurrent decline from peak | -37.22% | -42.36% | +5.14% |
Average DrawdownAverage peak-to-trough decline | -46.67% | -13.99% | -32.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.98% | 3.57% | +15.41% |
Volatility
SLVP vs. TLT - Volatility Comparison
iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 14.39% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.46%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SLVP | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.39% | 2.46% | +11.93% |
Volatility (6M)Calculated over the trailing 6-month period | 45.21% | 6.85% | +38.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.38% | 9.32% | +47.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.62% | 15.74% | +27.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.50% | 14.83% | +27.67% |
SLVP vs. TLT - Expense Ratio Comparison
SLVP has a 0.39% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
SLVP vs. TLT - Dividend Comparison
SLVP's dividend yield for the trailing twelve months is around 2.37%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TLT iShares 20+ Year Treasury Bond ETF | 4.34% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
SLVP and TLT have a correlation of 0.13, 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 TLT (2.46%). In terms of maximum drawdown, SLVP dropped -80.47% vs TLT's -48.35%.
On 10-year performance, SLVP leads with 7.89% vs -2.38% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLVP has performed better with a 7.89% return vs -2.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.39% for SLVP.
TLT has the higher dividend yield at 4.34%, compared with 2.37% for SLVP.
SLVP is categorized as Silver, while TLT is Government Bonds. SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.39% for SLVP and 0.15% for TLT.
SLVP currently has the higher Sharpe Ratio (1.30 vs -0.11), 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.
Find the right allocation for SLVP and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer