SLVX vs. PSLV

Last updated Jun 15, 2026

SLVX (Nicholas Silver Income ETF) and PSLV (Sprott Physical Silver Trust) are both Silver funds. SLVX is actively managed, while PSLV is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. SLVX charges 1.16%/yr vs 0.51%/yr for PSLV.

Performance

SLVX vs. PSLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Silver Income ETF (SLVX) and Sprott Physical Silver Trust (PSLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SLVX

• 1D: 3.40%
• 1M: -14.36%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSLV

• 1D: 1.22%
• 1M: -12.36%
• YTD: -8.84%
• 6M: 5.69%
• 1Y: 76.87%
• 3Y*: 38.76%
• 5Y*: 16.68%
• 10Y*: 12.48%

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

SLVX vs. PSLV - Yearly Performance Comparison

	2026 (YTD)
SLVX Nicholas Silver Income ETF	-19.87%
PSLV Sprott Physical Silver Trust	-10.17%

Correlation

The correlation between SLVX and PSLV is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026	0.90

Return for Risk

SLVX vs. PSLV — Risk / Return Rank

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

SLVX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PSLV

PSLV Risk / Return Rank: 39
PSLV Sharpe Ratio Rank: 41
PSLV Sortino Ratio Rank: 35
PSLV Omega Ratio Rank: 47
PSLV Calmar Ratio Rank: 39
PSLV Martin Ratio Rank: 31

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.

SLVX vs. PSLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Silver Income ETF (SLVX) and Sprott Physical Silver Trust (PSLV). 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.

	SLVX	PSLV	Difference
Sharpe ratio: Return per unit of total volatility	—	1.30	—
Sortino ratio: Return per unit of downside risk	—	1.66	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	1.72	—
Martin ratio: Return relative to average drawdown	—	3.95	—

Drawdowns

SLVX vs. PSLV - Drawdown Comparison

The maximum SLVX drawdown since its inception was -40.32%, smaller than the maximum PSLV drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for SLVX and PSLV.

Drawdown Indicators

	SLVX	PSLV	Difference
Max Drawdown Largest peak-to-trough decline	-40.32%	-79.38%	+39.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-44.86%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-44.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-44.86%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.86%	—
Current Drawdown Current decline from peak	-34.17%	-40.70%	+6.53%
Average Drawdown Average peak-to-trough decline	-20.61%	-58.11%	+37.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	19.49%	—

Volatility

Volatility by Period

	SLVX	PSLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.98%	—
Volatility (6M) Calculated over the trailing 6-month period	—	58.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	62.23%	59.54%	+2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.23%	35.99%	+26.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.23%	31.33%	+30.90%

SLVX vs. PSLV - Expense Ratio Comparison

SLVX has a 1.16% expense ratio, which is higher than PSLV's 0.51% expense ratio.

Dividends

SLVX vs. PSLV - Dividend Comparison

SLVX's dividend yield for the trailing twelve months is around 8.00%, while PSLV has not paid dividends to shareholders.

Position	TTM
PSLV Sprott Physical Silver Trust	0.00%
SLVX Nicholas Silver Income ETF	8.00%

Frequently Asked Questions

Can I hold both SLVX and PSLV in my portfolio?

With a correlation of 0.90, SLVX and PSLV 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, SLVX or PSLV?

On fees, PSLV is cheaper at 0.51% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLVX or PSLV?

PSLV is cheaper with a 0.51% expense ratio, compared with 1.16% for SLVX.

Which ETF pays a higher dividend yield, SLVX or PSLV?

SLVX has the higher dividend yield at 8.00%, compared with 0.00% for PSLV.

What is the main difference between SLVX and PSLV?

They also come from different issuers: Nicholas Wealth and Sprott. Their fees differ too: 1.16% for SLVX and 0.51% for PSLV.