SLVR.L vs. HBM
SLVR.L (WisdomTree Silver) is Silver fund tracking the Bloomberg Silver Subindex, while HBM (Hudbay Minerals Inc.) is a stock. Over the past 10 years, SLVR.L returned 11.93%/yr vs 19.31%/yr for HBM. At a 0.33 correlation, their price movements are largely independent.
Performance
SLVR.L vs. HBM - Performance Comparison
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Returns By Period
In the year-to-date period, SLVR.L achieves a -5.05% return, which is significantly lower than HBM's 40.23% return. Over the past 10 years, SLVR.L has underperformed HBM with an annualized return of 11.93%, while HBM has yielded a comparatively higher 19.31% annualized return.
SLVR.L
- 1D
- 5.86%
- 1M
- -23.83%
- YTD
- -5.05%
- 6M
- 8.51%
- 1Y
- 82.42%
- 3Y*
- 38.81%
- 5Y*
- 16.91%
- 10Y*
- 11.93%
HBM
- 1D
- 4.43%
- 1M
- 0.32%
- YTD
- 40.23%
- 6M
- 49.02%
- 1Y
- 189.83%
- 3Y*
- 78.89%
- 5Y*
- 31.42%
- 10Y*
- 19.31%
SLVR.L vs. HBM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLVR.L WisdomTree Silver | -5.05% | 136.69% | 20.17% | -2.57% | 2.25% | -14.66% | 40.61% | 13.97% | -10.15% | 1.46% |
HBM Hudbay Minerals Inc. | 40.23% | 145.46% | 47.03% | 9.24% | -29.87% | 3.82% | 69.50% | -11.77% | -46.20% | 54.77% |
Correlation
The correlation between SLVR.L and HBM is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2009 | 0.33 |
Over the past year, SLVR.L and HBM have become more correlated (0.54) than their long-term average of 0.33, meaning their price movements have been converging.
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Return for Risk
SLVR.L vs. HBM — Risk / Return Rank
SLVR.L
HBM
SLVR.L vs. HBM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Silver (SLVR.L) and Hudbay Minerals Inc. (HBM). 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.
| SLVR.L | HBM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.44 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 5.28 | -3.42 |
| Martin ratioReturn relative to average drawdown | 4.15 | 16.41 | -12.26 |
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Drawdowns
SLVR.L vs. HBM - Drawdown Comparison
The maximum SLVR.L drawdown since its inception was -80.08%, smaller than the maximum HBM drawdown of -92.21%. Use the drawdown chart below to compare losses from any high point for SLVR.L and HBM.
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Drawdown Indicators
| SLVR.L | HBM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.08% | -92.21% | +12.13% |
Max Drawdown (1Y)Largest decline over 1 year | -44.09% | -36.16% | -7.93% |
Max Drawdown (3Y)Largest decline over 3 years | -44.09% | -41.11% | -2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -44.09% | -63.33% | +19.24% |
Max Drawdown (10Y)Largest decline over 10 years | -46.91% | -86.34% | +39.43% |
Current DrawdownCurrent decline from peak | -40.82% | -12.68% | -28.14% |
Average DrawdownAverage peak-to-trough decline | -52.50% | -52.45% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.82% | 11.62% | +8.20% |
Volatility
SLVR.L vs. HBM - Volatility Comparison
The current volatility for WisdomTree Silver (SLVR.L) is 15.99%, while Hudbay Minerals Inc. (HBM) has a volatility of 25.87%. This indicates that SLVR.L experiences smaller price fluctuations and is considered to be less risky than HBM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLVR.L | HBM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.99% | 25.87% | -9.88% |
Volatility (6M)Calculated over the trailing 6-month period | 56.65% | 47.72% | +8.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.58% | 59.13% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.07% | 55.51% | -18.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.07% | 58.82% | -26.75% |
Dividends
SLVR.L vs. HBM - Dividend Comparison
SLVR.L has not paid dividends to shareholders, while HBM's dividend yield for the trailing twelve months is around 0.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBM Hudbay Minerals Inc. | 0.08% | 0.07% | 0.17% | 0.31% | 0.32% | 0.22% | 0.21% | 0.36% | 0.38% | 0.23% | 0.35% | 0.52% |
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% |
Frequently Asked Questions
SLVR.L and HBM have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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