SLVR vs. SLVP

Last updated Jun 4, 2026

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

Performance

SLVR vs. SLVP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Silver Miners & Physical Silver ETF (SLVR) and iShares MSCI Global Silver and Metals Miners ETF (SLVP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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

SLVR

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

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%

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

SLVR vs. SLVP - Yearly Performance Comparison

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

Correlation

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

Return for Risk

SLVR vs. SLVP — Risk / Return Rank

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

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

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

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 vs. SLVP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Silver Miners & Physical Silver ETF (SLVR) and iShares MSCI Global Silver and Metals Miners ETF (SLVP). 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	SLVP	Difference
Sharpe ratio Return per unit of total volatility	1.93	2.12	-0.20
Sortino ratio Return per unit of downside risk	2.25	2.40	-0.16
Omega ratio Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio Return relative to maximum drawdown	3.08	3.36	-0.28
Martin ratio Return relative to average drawdown	7.66	8.53	-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.

SLVR vs. SLVP - Sharpe Ratio Comparison

The current SLVR Sharpe Ratio is 1.93, which is comparable to the SLVP Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of SLVR and SLVP, 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

	SLVR	SLVP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	2.12	-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	2.02	0.09	+1.93

Drawdowns

SLVR vs. SLVP - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

SLVR vs. SLVP - Volatility Comparison

Sprott Silver Miners & Physical Silver ETF (SLVR) has a higher volatility of 19.31% compared to iShares MSCI Global Silver and Metals Miners ETF (SLVP) at 17.59%. This indicates that SLVR's price experiences larger fluctuations and is considered to be riskier than SLVP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

SLVR vs. SLVP - Expense Ratio Comparison

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

Dividends

SLVR vs. SLVP - Dividend Comparison

SLVR's dividend yield for the trailing twelve months is around 3.45%, more than SLVP's 1.74% 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 SLVR and SLVP in my portfolio?

With a correlation of 0.96, SLVR and SLVP 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, SLVR or SLVP?

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

Which ETF is better, SLVR or SLVP?

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, SLVR or SLVP?

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, SLVR or SLVP?

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

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

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

What is the main difference between SLVR and SLVP?

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

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.