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SLVR.L vs. GDX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SLVR.L vs. GDX

Last updated Apr 1, 2026

Compare and contrast key facts about WisdomTree Silver (SLVR.L) and VanEck Gold Miners ETF (GDX).

SLVR.L and GDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SLVR.L is a passively managed fund by WisdomTree that tracks the performance of the EMIX Global Mining Global Gold TR USD. It was launched on Sep 22, 2006. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE MarketVector Global Gold Miners Index. It was launched on May 16, 2006. Both SLVR.L and GDX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SLVR.L vs. GDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Silver (SLVR.L) and VanEck Gold Miners ETF (GDX). The values are adjusted to include any dividend payments, if applicable.

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SLVR.L vs. GDX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SLVR.L
WisdomTree Silver		3.67%136.72%20.15%-2.57%2.25%-14.66%40.61%13.97%-10.13%1.46%
GDX
VanEck Gold Miners ETF		7.00%154.77%10.63%9.98%-9.01%-9.52%23.66%39.84%-8.77%11.99%

Returns By Period

In the year-to-date period, SLVR.L achieves a 3.67% return, which is significantly lower than GDX's 7.00% return. Over the past 10 years, SLVR.L has underperformed GDX with an annualized return of 14.65%, while GDX has yielded a comparatively higher 17.53% annualized return.

SLVR.L

1D
3.80%
1M
-21.43%
YTD
3.67%
6M
57.88%
1Y
108.06%
3Y*
42.13%
5Y*
21.96%
10Y*
14.65%

GDX

1D
6.97%
1M
-20.78%
YTD
7.00%
6M
20.99%
1Y
101.08%
3Y*
43.23%
5Y*
23.96%
10Y*
17.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree Silver

VanEck Gold Miners ETF

Often compared with SLVR.L:
SLVR.L vs. SLVSLVR.L vs. SILSLVR.L vs. SILJSLVR.L vs. SIVRSLVR.L vs. SLVPSLVR.L vs. AGMISLVR.L vs. SCHD
Often compared with GDX:
GDX vs. GLDGDX vs. GDXJGDX vs. GOLDGDX vs. IAUGDX vs. GDXUGDX vs. RINGGDX vs. SLV

SLVR.L vs. GDX - Expense Ratio Comparison

SLVR.L has a 0.49% expense ratio, which is lower than GDX's 0.51% expense ratio.

GDX
VanEck Gold Miners ETF
SLVR.L
WisdomTree Silver

Return for Risk

SLVR.L vs. GDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SLVR.L
SLVR.L Risk / Return Rank: 8787
Overall Rank
SLVR.L Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
SLVR.L Sortino Ratio Rank: 8686
Sortino Ratio Rank
SLVR.L Omega Ratio Rank: 8989
Omega Ratio Rank
SLVR.L Calmar Ratio Rank: 8888
Calmar Ratio Rank
SLVR.L Martin Ratio Rank: 8080
Martin Ratio Rank
GDX
GDX Risk / Return Rank: 9292
Overall Rank
GDX Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
GDX Sortino Ratio Rank: 9090
Sortino Ratio Rank
GDX Omega Ratio Rank: 8989
Omega Ratio Rank
GDX Calmar Ratio Rank: 9393
Calmar Ratio Rank
GDX Martin Ratio Rank: 9292
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.

SLVR.L vs. GDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Silver (SLVR.L) and VanEck Gold Miners ETF (GDX). 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.

SLVR.LGDXDifference

Sharpe ratio

Return per unit of total volatility

1.95

2.21

-0.26

Sortino ratio

Return per unit of downside risk

2.26

2.45

-0.19

Omega ratio

Gain probability vs. loss probability

1.36

1.36

0.00

Calmar ratio

Return relative to maximum drawdown

2.67

3.34

-0.67

Martin ratio

Return relative to average drawdown

8.24

12.07

-3.83

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLVR.L vs. GDX - Sharpe Ratio Comparison

The current SLVR.L Sharpe Ratio is 1.95, which is comparable to the GDX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of SLVR.L and GDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

SLVR.LGDXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.95

2.21

-0.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

0.67

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.47

0.47

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

0.14

+0.08

Correlation

The correlation between SLVR.L and GDX is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SLVR.L vs. GDX - Dividend Comparison

SLVR.L has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 0.69%.

TTM20252024202320222021202020192018201720162015
SLVR.L
WisdomTree Silver		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GDX
VanEck Gold Miners ETF		0.69%0.74%1.19%1.61%1.66%1.67%0.53%0.67%0.50%0.76%0.26%0.85%

Drawdowns

SLVR.L vs. GDX - Drawdown Comparison

The maximum SLVR.L drawdown since its inception was -79.93%, roughly equal to the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for SLVR.L and GDX.

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Drawdown Indicators

SLVR.LGDXDifference

Max Drawdown

Largest peak-to-trough decline

-79.93%

-80.34%

+0.41%

Max Drawdown (1Y)

Largest decline over 1 year

-40.74%

-30.84%

-9.90%

Max Drawdown (5Y)

Largest decline over 5 years

-40.74%

-46.51%

+5.77%

Max Drawdown (10Y)

Largest decline over 10 years

-46.90%

-49.79%

+2.89%

Current Drawdown

Current decline from peak

-35.38%

-20.78%

-14.60%

Average Drawdown

Average peak-to-trough decline

-49.58%

-40.61%

-8.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.20%

8.52%

+4.68%

Volatility

SLVR.L vs. GDX - Volatility Comparison

WisdomTree Silver (SLVR.L) and VanEck Gold Miners ETF (GDX) have volatilities of 19.19% and 18.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SLVR.LGDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

19.19%

18.51%

+0.68%

Volatility (6M)

Calculated over the trailing 6-month period

52.92%

38.19%

+14.73%

Volatility (1Y)

Calculated over the trailing 1-year period

55.13%

46.00%

+9.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.33%

35.73%

-0.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.14%

37.44%

-6.30%