SLVU.TO vs. SBT.TO

Last updated Jun 4, 2026

SLVU.TO (BetaPro Silver 2x Daily Bull ETF) and SBT.TO (Purpose Silver Bullion Fund) are both Silver funds - SLVU.TO tracks the Solactive Silver Front Month MD Rolling Futures Index ER while SBT.TO tracks the LBMA Silver Price. Both are passively managed. Over the past 10 years, SLVU.TO returned 7.42%/yr vs 13.84%/yr for SBT.TO. At a 0.44 correlation, their price movements are largely independent. SLVU.TO charges 2.20%/yr vs 0.36%/yr for SBT.TO.

Performance

SLVU.TO vs. SBT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro Silver 2x Daily Bull ETF (SLVU.TO) and Purpose Silver Bullion Fund (SBT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLVU.TO achieves a -32.84% return, which is significantly lower than SBT.TO's 2.24% return. Over the past 10 years, SLVU.TO has underperformed SBT.TO with an annualized return of 7.42%, while SBT.TO has yielded a comparatively higher 13.84% annualized return.

SLVU.TO

• 1D: -5.36%
• 1M: -2.10%
• YTD: -32.84%
• 6M: -7.57%
• 1Y: 133.37%
• 3Y*: 49.77%
• 5Y*: 12.11%
• 10Y*: 7.42%

SBT.TO

• 1D: -2.53%
• 1M: 0.38%
• YTD: 2.24%
• 6M: 24.07%
• 1Y: 105.34%
• 3Y*: 42.09%
• 5Y*: 18.84%
• 10Y*: 13.84%

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

SLVU.TO vs. SBT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLVU.TO BetaPro Silver 2x Daily Bull ETF	-32.84%	349.11%	20.71%	-16.01%	-10.21%	-34.59%	55.46%	16.28%	-26.54%	1.00%
SBT.TO Purpose Silver Bullion Fund	2.24%	137.07%	18.55%	-0.86%	1.99%	-13.18%	48.01%	13.31%	-12.82%	-17.07%

Correlation

The correlation between SLVU.TO and SBT.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since May 30, 2016	0.44

Over the past year, SLVU.TO and SBT.TO have become more correlated (0.93) than their long-term average of 0.44, meaning their price movements have been converging.

Return for Risk

SLVU.TO vs. SBT.TO — Risk / Return Rank

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

SLVU.TO

SLVU.TO Risk / Return Rank: 36
SLVU.TO Sharpe Ratio Rank: 32
SLVU.TO Sortino Ratio Rank: 36
SLVU.TO Omega Ratio Rank: 51
SLVU.TO Calmar Ratio Rank: 36
SLVU.TO Martin Ratio Rank: 25

SBT.TO

SBT.TO Risk / Return Rank: 46
SBT.TO Sharpe Ratio Rank: 52
SBT.TO Sortino Ratio Rank: 39
SBT.TO Omega Ratio Rank: 55
SBT.TO Calmar Ratio Rank: 50
SBT.TO Martin Ratio Rank: 34

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.

SLVU.TO vs. SBT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro Silver 2x Daily Bull ETF (SLVU.TO) and Purpose Silver Bullion Fund (SBT.TO). 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.

	SLVU.TO	SBT.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.80	-0.66
Sortino ratio: Return per unit of downside risk	1.87	2.02	-0.16
Omega ratio: Gain probability vs. loss probability	1.32	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	1.75	2.48	-0.73
Martin ratio: Return relative to average drawdown	3.33	5.33	-2.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLVU.TO vs. SBT.TO - Sharpe Ratio Comparison

The current SLVU.TO Sharpe Ratio is 1.14, which is lower than the SBT.TO Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of SLVU.TO and SBT.TO, 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

	SLVU.TO	SBT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	1.80	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.52	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	0.21	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.21	-0.22

Drawdowns

SLVU.TO vs. SBT.TO - Drawdown Comparison

The maximum SLVU.TO drawdown since its inception was -98.60%, which is greater than SBT.TO's maximum drawdown of -47.82%. Use the drawdown chart below to compare losses from any high point for SLVU.TO and SBT.TO.

Drawdown Indicators

	SLVU.TO	SBT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-98.60%	-47.82%	-50.78%
Max Drawdown (1Y) Largest decline over 1 year	-76.62%	-42.69%	-33.93%
Max Drawdown (3Y) Largest decline over 3 years	-76.62%	-42.69%	-33.93%
Max Drawdown (5Y) Largest decline over 5 years	-76.62%	-42.69%	-33.93%
Max Drawdown (10Y) Largest decline over 10 years	-80.27%	-47.82%	-32.45%
Current Drawdown Current decline from peak	-90.63%	-37.47%	-53.16%
Average Drawdown Average peak-to-trough decline	-82.56%	-16.92%	-65.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.19%	19.84%	+20.35%

Volatility

SLVU.TO vs. SBT.TO - Volatility Comparison

BetaPro Silver 2x Daily Bull ETF (SLVU.TO) has a higher volatility of 34.08% compared to Purpose Silver Bullion Fund (SBT.TO) at 17.19%. This indicates that SLVU.TO's price experiences larger fluctuations and is considered to be riskier than SBT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLVU.TO	SBT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.08%	17.19%	+16.89%
Volatility (6M) Calculated over the trailing 6-month period	132.13%	57.92%	+74.21%
Volatility (1Y) Calculated over the trailing 1-year period	118.13%	59.01%	+59.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.80%	36.64%	+37.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.52%	66.58%	-1.06%

SLVU.TO vs. SBT.TO - Expense Ratio Comparison

SLVU.TO has a 2.20% expense ratio, which is higher than SBT.TO's 0.36% expense ratio.

Dividends

SLVU.TO vs. SBT.TO - Dividend Comparison

Neither SLVU.TO nor SBT.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SLVU.TO and SBT.TO in my portfolio?

With a correlation of 0.93, SLVU.TO and SBT.TO 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 ETF is better, SLVU.TO or SBT.TO?

On fees, SBT.TO is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLVU.TO or SBT.TO?

SBT.TO is cheaper with a 0.36% expense ratio, compared with 2.20% for SLVU.TO.

What is the main difference between SLVU.TO and SBT.TO?

SLVU.TO tracks Solactive Silver Front Month MD Rolling Futures Index ER, while SBT.TO tracks LBMA Silver Price. They also come from different issuers: Global X and Purpose Investments. Their fees differ too: 2.20% for SLVU.TO and 0.36% for SBT.TO.