SSG vs. SLV
SSG (Proshares Ultrashort Semiconductors) and SLV (iShares Silver Trust) are both exchange-traded funds - SSG is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (-200%), while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, SSG returned -60.97%/yr vs 10.57%/yr for SLV. At a correlation of -0.17, they often move in opposite directions. SSG charges 0.95%/yr vs 0.50%/yr for SLV.
Performance
SSG vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, SSG achieves a -54.76% return, which is significantly lower than SLV's -20.86% return. Over the past 10 years, SSG has underperformed SLV with an annualized return of -60.97%, while SLV has yielded a comparatively higher 10.57% annualized return.
SSG
- 1D
- -1.23%
- 1M
- 22.52%
- 6M
- -50.10%
- YTD
- -54.76%
- 1Y
- -69.06%
- 3Y*
- -72.05%
- 5Y*
- -65.35%
- 10Y*
- -60.97%
- ALL TIME*
- -48.61%
SLV
- 1D
- 0.39%
- 1M
- -14.33%
- 6M
- -37.08%
- YTD
- -20.86%
- 1Y
- 47.30%
- 3Y*
- 31.21%
- 5Y*
- 16.83%
- 10Y*
- 10.57%
- ALL TIME*
- 7.03%
SSG vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSG Proshares Ultrashort Semiconductors | -54.76% | -70.03% | -77.59% | -78.69% | 37.90% | -67.46% | -76.50% | -63.33% | -0.79% | -51.60% |
SLV iShares Silver Trust | -20.86% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between SSG and SLV is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.17 |
The correlation between SSG and SLV shifts across timeframes, from -0.28 (1 year) to -0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SSG vs. SLV — Risk / Return Rank
SSG
SLV
SSG vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) and iShares Silver Trust (SLV). 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.
| SSG | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.19 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 0.91 | -1.82 |
| Martin ratioReturn relative to average drawdown | -1.54 | 1.85 | -3.39 |
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Drawdowns
SSG vs. SLV - Drawdown Comparison
The maximum SSG drawdown since its inception was -100.00%, which is greater than SLV's maximum drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for SSG and SLV.
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Drawdown Indicators
| SSG | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -76.28% | -23.72% |
Max Drawdown (1Y)Largest decline over 1 year | -76.13% | -52.28% | -23.85% |
Max Drawdown (3Y)Largest decline over 3 years | -98.56% | -52.28% | -46.28% |
Max Drawdown (5Y)Largest decline over 5 years | -99.66% | -52.28% | -47.38% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -52.28% | -47.71% |
Current DrawdownCurrent decline from peak | -100.00% | -51.72% | -48.28% |
Average DrawdownAverage peak-to-trough decline | -88.65% | -44.67% | -43.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.89% | 25.64% | +19.25% |
Volatility
SSG vs. SLV - Volatility Comparison
Proshares Ultrashort Semiconductors (SSG) has a higher volatility of 30.08% compared to iShares Silver Trust (SLV) at 12.54%. This indicates that SSG's price experiences larger fluctuations and is considered to be riskier than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSG | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.08% | 12.54% | +17.54% |
Volatility (6M)Calculated over the trailing 6-month period | 59.01% | 56.50% | +2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.46% | 61.24% | +11.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.16% | 36.87% | +42.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.96% | 32.18% | +37.78% |
SSG vs. SLV - Expense Ratio Comparison
SSG has a 0.95% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
SSG vs. SLV - Dividend Comparison
SSG's dividend yield for the trailing twelve months is around 9.01%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SSG Proshares Ultrashort Semiconductors | 9.01% | 9.19% | 7.67% | 6.73% | 0.75% | 0.00% | 0.34% | 1.81% | 0.62% |
Frequently Asked Questions
SSG and SLV have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSG has higher volatility (30.08%) compared to SLV (12.54%). In terms of maximum drawdown, SSG dropped -100.00% vs SLV's -76.28%.
On 10-year performance, SLV leads with 10.57% vs -60.97% for SSG. On fees, SLV is cheaper at 0.50% per year. On volatility, SLV has been the lower-risk option at 12.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLV has performed better with a 10.57% return vs -60.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.95% for SSG.
SSG has the higher dividend yield at 9.01%, compared with 0.00% for SLV.
SSG is categorized as Leveraged Equities, while SLV is Silver. SSG tracks Dow Jones U.S. Semiconductors Index (-200%), while SLV tracks LBMA Silver Price. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SSG and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (0.78 vs -0.96), 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.
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