SSLN.L vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Physical Silver ETC (SSLN.L) and Bitcoin (BTC-USD).

SSLN.L is a passively managed fund by iShares that tracks the performance of the Silver. It was launched on Apr 8, 2011.

Performance

SSLN.L vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Physical Silver ETC (SSLN.L) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

SSLN.L vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSLN.L iShares Physical Silver ETC	6.67%	130.26%	23.21%	-6.20%	15.75%	-11.64%	40.73%	12.68%	-3.48%	-5.59%
BTC-USD Bitcoin	-20.34%	-12.95%	125.81%	140.73%	-59.81%	60.91%	292.68%	86.71%	-73.15%	1,284.82%

Different Trading Currencies

SSLN.L is traded in GBp, while BTC-USD is traded in USD. To make them comparable, the BTC-USD values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, SSLN.L achieves a 6.67% return, which is significantly higher than BTC-USD's -20.55% return. Over the past 10 years, SSLN.L has underperformed BTC-USD with an annualized return of 18.10%, while BTC-USD has yielded a comparatively higher 67.69% annualized return.

SSLN.L

• 1D: 1.60%
• 1M: -13.39%
• YTD: 6.67%
• 6M: 61.54%
• 1Y: 116.58%
• 3Y*: 42.63%
• 5Y*: 26.04%
• 10Y*: 18.10%

BTC-USD

• 1D: 0.00%
• 1M: 0.48%
• YTD: -20.55%
• 6M: -41.39%
• 1Y: -21.72%
• 3Y*: 30.74%
• 5Y*: 3.89%
• 10Y*: 67.69%

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

Return for Risk

SSLN.L vs. BTC-USD — Risk / Return Rank

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

SSLN.L

SSLN.L Risk / Return Rank: 88
SSLN.L Sharpe Ratio Rank: 93
SSLN.L Sortino Ratio Rank: 88
SSLN.L Omega Ratio Rank: 91
SSLN.L Calmar Ratio Rank: 89
SSLN.L Martin Ratio Rank: 81

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

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.

SSLN.L vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (SSLN.L) and Bitcoin (BTC-USD). 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.

	SSLN.L	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	2.23	-0.50	+2.73
Sortino ratio Return per unit of downside risk	2.48	-0.47	+2.96
Omega ratio Gain probability vs. loss probability	1.41	0.95	+0.46
Calmar ratio Return relative to maximum drawdown	3.00	-1.07	+4.07
Martin ratio Return relative to average drawdown	9.45	-1.96	+11.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSLN.L vs. BTC-USD - Sharpe Ratio Comparison

The current SSLN.L Sharpe Ratio is 2.23, which is higher than the BTC-USD Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of SSLN.L and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SSLN.L	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	-0.50	+2.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.07	+0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	1.00	-0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	1.21	-1.03

Correlation

The correlation between SSLN.L and BTC-USD is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

SSLN.L vs. BTC-USD - Drawdown Comparison

The maximum SSLN.L drawdown since its inception was -69.95%, smaller than the maximum BTC-USD drawdown of -84.19%. Use the drawdown chart below to compare losses from any high point for SSLN.L and BTC-USD.

Drawdown Indicators

	SSLN.L	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-69.95%	-85.30%	+15.35%
Max Drawdown (1Y) Largest decline over 1 year	-38.72%	-49.65%	+10.93%
Max Drawdown (5Y) Largest decline over 5 years	-38.72%	-76.67%	+37.95%
Max Drawdown (10Y) Largest decline over 10 years	-38.72%	-83.80%	+45.08%
Current Drawdown Current decline from peak	-31.37%	-45.02%	+13.65%
Average Drawdown Average peak-to-trough decline	-45.48%	-41.99%	-3.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.30%	27.60%	-15.30%

Volatility

SSLN.L vs. BTC-USD - Volatility Comparison

iShares Physical Silver ETC (SSLN.L) has a higher volatility of 17.51% compared to Bitcoin (BTC-USD) at 13.30%. This indicates that SSLN.L's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSLN.L	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.51%	13.30%	+4.21%
Volatility (6M) Calculated over the trailing 6-month period	50.17%	35.05%	+15.12%
Volatility (1Y) Calculated over the trailing 1-year period	51.98%	36.16%	+15.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.21%	46.45%	-14.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.12%	56.08%	-26.96%