SSLN.L vs. SLV
SSLN.L (iShares Physical Silver ETC) and SLV (iShares Silver Trust) are both Silver funds from iShares tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, SSLN.L returned 16.77%/yr vs 16.45%/yr for SLV. A 0.73 correlation means they provide meaningful diversification when combined. SSLN.L charges 0.20%/yr vs 0.50%/yr for SLV.
Performance
SSLN.L vs. SLV - Performance Comparison
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Different Trading Currencies
SSLN.L is traded in GBp, while SLV is traded in USD. To make them comparable, the SLV 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 2.69% return, which is significantly lower than SLV's 3.16% return. Both investments have delivered pretty close results over the past 10 years, with SSLN.L having a 16.77% annualized return and SLV not far behind at 16.45%.
SSLN.L
- 1D
- -3.04%
- 1M
- -2.09%
- YTD
- 2.69%
- 6M
- 23.96%
- 1Y
- 113.86%
- 3Y*
- 41.85%
- 5Y*
- 22.87%
- 10Y*
- 16.77%
SLV
- 1D
- -2.36%
- 1M
- 1.22%
- YTD
- 3.16%
- 6M
- 24.10%
- 1Y
- 112.06%
- 3Y*
- 41.47%
- 5Y*
- 22.06%
- 10Y*
- 16.45%
SSLN.L vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSLN.L iShares Physical Silver ETC | 2.69% | 130.26% | 23.21% | -6.20% | 15.75% | -11.64% | 40.73% | 12.68% | -3.48% | -5.59% |
SLV iShares Silver Trust | 3.16% | 127.23% | 23.00% | -6.03% | 14.54% | -11.63% | 42.98% | 10.51% | -3.81% | -3.33% |
Correlation
The correlation between SSLN.L and SLV is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.73 |
The correlation between SSLN.L and SLV has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.
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Return for Risk
SSLN.L vs. SLV — Risk / Return Rank
SSLN.L
SLV
SSLN.L vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (SSLN.L) 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.
| SSLN.L | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 2.79 | +0.13 |
| Martin ratioReturn relative to average drawdown | 6.46 | 6.04 | +0.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SSLN.L | SLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.97 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.65 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.54 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.37 | -0.20 |
Drawdowns
SSLN.L vs. SLV - Drawdown Comparison
The maximum SSLN.L drawdown since its inception was -69.95%, roughly equal to the maximum SLV drawdown of -69.62%. Use the drawdown chart below to compare losses from any high point for SSLN.L and SLV.
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Drawdown Indicators
| SSLN.L | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.95% | -69.62% | -0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -38.72% | -40.40% | +1.68% |
Max Drawdown (3Y)Largest decline over 3 years | -38.72% | -40.40% | +1.68% |
Max Drawdown (5Y)Largest decline over 5 years | -38.72% | -40.40% | +1.68% |
Max Drawdown (10Y)Largest decline over 10 years | -38.72% | -40.40% | +1.68% |
Current DrawdownCurrent decline from peak | -33.93% | -35.52% | +1.59% |
Average DrawdownAverage peak-to-trough decline | -45.32% | -38.00% | -7.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.56% | 18.63% | -1.07% |
Volatility
SSLN.L vs. SLV - Volatility Comparison
iShares Physical Silver ETC (SSLN.L) has a higher volatility of 16.55% compared to iShares Silver Trust (SLV) at 15.48%. This indicates that SSLN.L'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
| SSLN.L | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.55% | 15.48% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 52.03% | 56.36% | -4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.53% | 57.23% | -2.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.31% | 33.95% | -0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.70% | 30.49% | -0.79% |
SSLN.L vs. SLV - Expense Ratio Comparison
SSLN.L has a 0.20% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
SSLN.L vs. SLV - Dividend Comparison
Neither SSLN.L nor SLV has paid dividends to shareholders.
Frequently Asked Questions
SSLN.L and SLV have a correlation of 0.82, 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 0.50% for SLV.
Both ETFs track LBMA Silver Price. Their fees differ too: 0.20% for SSLN.L and 0.50% for SLV.
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