SLVR.L vs. USFR.L
SLVR.L (WisdomTree Silver) and USFR.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD) are both exchange-traded funds - SLVR.L is a Silver fund tracking the Bloomberg Silver Subindex, while USFR.L is a Government Bonds fund tracking the Bloomberg US Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, SLVR.L returned 19.09%/yr vs 3.58%/yr for USFR.L. At a 0.03 correlation, their price movements are largely independent. SLVR.L charges 0.49%/yr vs 0.15%/yr for USFR.L.
Performance
SLVR.L vs. USFR.L - Performance Comparison
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Returns By Period
In the year-to-date period, SLVR.L achieves a 3.18% return, which is significantly higher than USFR.L's 1.58% return.
SLVR.L
- 1D
- -3.39%
- 1M
- -3.55%
- YTD
- 3.18%
- 6M
- 24.16%
- 1Y
- 108.17%
- 3Y*
- 42.86%
- 5Y*
- 19.09%
- 10Y*
- 13.51%
USFR.L
- 1D
- 0.04%
- 1M
- 0.49%
- YTD
- 1.58%
- 6M
- 1.92%
- 1Y
- 4.05%
- 3Y*
- 4.74%
- 5Y*
- 3.58%
- 10Y*
- —
SLVR.L vs. USFR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SLVR.L WisdomTree Silver | 3.18% | 136.72% | 20.15% | -2.57% | 2.25% | -14.66% | 40.61% | 15.04% |
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 1.58% | 4.13% | 5.41% | 4.94% | 2.05% | -0.16% | 0.57% | 1.47% |
Correlation
The correlation between SLVR.L and USFR.L is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2019 | 0.03 |
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Return for Risk
SLVR.L vs. USFR.L — Risk / Return Rank
SLVR.L
USFR.L
SLVR.L vs. USFR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Silver (SLVR.L) and WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.L). 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.L | USFR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.95 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.95 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 15.06 | -12.42 |
| Martin ratioReturn relative to average drawdown | 5.79 | 59.45 | -53.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLVR.L | USFR.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 3.68 | -1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 2.39 | -1.87 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 1.51 | -1.29 |
Drawdowns
SLVR.L vs. USFR.L - Drawdown Comparison
The maximum SLVR.L drawdown since its inception was -79.93%, which is greater than USFR.L's maximum drawdown of -2.99%. Use the drawdown chart below to compare losses from any high point for SLVR.L and USFR.L.
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Drawdown Indicators
| SLVR.L | USFR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.93% | -2.99% | -76.94% |
Max Drawdown (1Y)Largest decline over 1 year | -40.74% | -0.27% | -40.47% |
Max Drawdown (3Y)Largest decline over 3 years | -40.74% | -0.89% | -39.85% |
Max Drawdown (5Y)Largest decline over 5 years | -40.74% | -0.89% | -39.85% |
Max Drawdown (10Y)Largest decline over 10 years | -46.90% | — | — |
Current DrawdownCurrent decline from peak | -35.69% | 0.00% | -35.69% |
Average DrawdownAverage peak-to-trough decline | -49.44% | -0.09% | -49.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.61% | 0.07% | +18.54% |
Volatility
SLVR.L vs. USFR.L - Volatility Comparison
WisdomTree Silver (SLVR.L) has a higher volatility of 17.95% compared to WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.L) at 0.32%. This indicates that SLVR.L's price experiences larger fluctuations and is considered to be riskier than USFR.L 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 | USFR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.95% | 0.32% | +17.63% |
Volatility (6M)Calculated over the trailing 6-month period | 56.26% | 0.86% | +55.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.81% | 1.10% | +57.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.81% | 1.50% | +35.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.96% | 1.84% | +30.12% |
SLVR.L vs. USFR.L - Expense Ratio Comparison
SLVR.L has a 0.49% expense ratio, which is higher than USFR.L's 0.15% expense ratio.
Dividends
SLVR.L vs. USFR.L - Dividend Comparison
SLVR.L has not paid dividends to shareholders, while USFR.L's dividend yield for the trailing twelve months is around 3.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SLVR.L WisdomTree Silver | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 3.99% | 4.32% | 5.24% | 4.58% | 0.78% | 0.00% | 0.57% | 1.09% |
Frequently Asked Questions
SLVR.L and USFR.L have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USFR.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USFR.L is cheaper with a 0.15% expense ratio, compared with 0.49% for SLVR.L.
SLVR.L is categorized as Silver, while USFR.L is Government Bonds. SLVR.L tracks Bloomberg Silver Subindex, while USFR.L tracks Bloomberg US Treasury Floating Rate Bond Index. Their fees differ too: 0.49% for SLVR.L and 0.15% for USFR.L.
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