SSLN.L vs. SBT.TO
SSLN.L (iShares Physical Silver ETC) and SBT.TO (Purpose Silver Bullion Fund) are both Silver funds tracking the LBMA Silver Price, from iShares and Purpose Investments respectively. Both are passively managed. Over the past 10 years, SSLN.L returned 11.54%/yr vs 10.26%/yr for SBT.TO. At a 0.40 correlation, their price movements are largely independent. SSLN.L charges 0.20%/yr vs 0.36%/yr for SBT.TO.
Performance
SSLN.L vs. SBT.TO - Performance Comparison
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Different Trading Currencies
SSLN.L is traded in GBp, while SBT.TO is traded in CAD. To make them comparable, the SBT.TO 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 -15.38% return, which is significantly higher than SBT.TO's -20.23% return. Over the past 10 years, SSLN.L has outperformed SBT.TO with an annualized return of 11.54%, while SBT.TO has yielded a comparatively lower 10.26% annualized return.
SSLN.L
- 1D
- 3.08%
- 1M
- -20.04%
- YTD
- -15.38%
- 6M
- -20.49%
- 1Y
- 71.23%
- 3Y*
- 35.76%
- 5Y*
- 18.76%
- 10Y*
- 11.54%
SBT.TO
- 1D
- 2.12%
- 1M
- -23.72%
- YTD
- -20.23%
- 6M
- -25.51%
- 1Y
- 56.93%
- 3Y*
- 29.22%
- 5Y*
- 13.21%
- 10Y*
- 10.26%
SSLN.L vs. SBT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSLN.L iShares Physical Silver ETC | -15.38% | 130.26% | 23.21% | -6.20% | 15.75% | -11.83% | 41.04% | 12.68% | -3.48% | -5.59% |
SBT.TO Purpose Silver Bullion Fund | -20.23% | 130.71% | 11.21% | -3.52% | 7.31% | -12.32% | 47.15% | 13.68% | -14.81% | -18.74% |
Correlation
The correlation between SSLN.L and SBT.TO is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since May 27, 2016 | 0.40 |
Over the past year, SSLN.L and SBT.TO have become more correlated (0.79) than their long-term average of 0.40, meaning their price movements have been converging.
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Return for Risk
SSLN.L vs. SBT.TO — Risk / Return Rank
SSLN.L
SBT.TO
SSLN.L vs. SBT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (SSLN.L) 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.
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.
| SSLN.L | SBT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 1.09 | +0.41 |
| Martin ratioReturn relative to average drawdown | 3.40 | 2.48 | +0.92 |
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Drawdowns
SSLN.L vs. SBT.TO - Drawdown Comparison
The maximum SSLN.L drawdown since its inception was -78.44%, which is greater than SBT.TO's maximum drawdown of -52.43%. Use the drawdown chart below to compare losses from any high point for SSLN.L and SBT.TO.
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Drawdown Indicators
| SSLN.L | SBT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.44% | -52.43% | -26.01% |
Max Drawdown (1Y)Largest decline over 1 year | -47.19% | -52.43% | +5.24% |
Max Drawdown (3Y)Largest decline over 3 years | -47.19% | -52.43% | +5.24% |
Max Drawdown (5Y)Largest decline over 5 years | -47.19% | -52.43% | +5.24% |
Max Drawdown (10Y)Largest decline over 10 years | -47.19% | -52.43% | +5.24% |
Current DrawdownCurrent decline from peak | -45.56% | -50.56% | +5.00% |
Average DrawdownAverage peak-to-trough decline | -59.64% | -18.12% | -41.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.86% | 22.99% | -2.13% |
Volatility
SSLN.L vs. SBT.TO - Volatility Comparison
The current volatility for iShares Physical Silver ETC (SSLN.L) is 14.91%, while Purpose Silver Bullion Fund (SBT.TO) has a volatility of 16.14%. This indicates that SSLN.L experiences smaller price fluctuations and is considered to be less risky than SBT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSLN.L | SBT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.91% | 16.14% | -1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 53.08% | 57.59% | -4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.25% | 59.88% | -3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.68% | 37.73% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.05% | 67.88% | -36.83% |
SSLN.L vs. SBT.TO - Expense Ratio Comparison
SSLN.L has a 0.20% expense ratio, which is lower than SBT.TO's 0.36% expense ratio.
Dividends
SSLN.L vs. SBT.TO - Dividend Comparison
Neither SSLN.L nor SBT.TO has paid dividends to shareholders.
Frequently Asked Questions
SSLN.L and SBT.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SSLN.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSLN.L is cheaper with a 0.20% expense ratio, compared with 0.36% for SBT.TO.
Both ETFs track LBMA Silver Price. They also come from different issuers: iShares and Purpose Investments. Their fees differ too: 0.20% for SSLN.L and 0.36% for SBT.TO.
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