SSLN.L vs. SSLV.L
SSLN.L (iShares Physical Silver ETC) and SSLV.L (Invesco Physical Silver ETC) are both Silver funds tracking the LBMA Silver Price, from iShares and Invesco respectively. Both are passively managed. Over the past 10 years, SSLN.L returned 16.77%/yr vs 16.78%/yr for SSLV.L. Their correlation of 0.87 suggests significant overlap in exposure. SSLN.L charges 0.20%/yr vs 0.19%/yr for SSLV.L.
Performance
SSLN.L vs. SSLV.L - Performance Comparison
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Different Trading Currencies
SSLN.L is traded in GBp, while SSLV.L is traded in USD. To make them comparable, the SSLV.L 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 SSLV.L's 2.83% return. Both investments have delivered pretty close results over the past 10 years, with SSLN.L having a 16.77% annualized return and SSLV.L not far ahead at 16.78%.
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%
SSLV.L
- 1D
- -3.03%
- 1M
- -2.34%
- YTD
- 2.83%
- 6M
- 24.38%
- 1Y
- 113.97%
- 3Y*
- 41.83%
- 5Y*
- 22.50%
- 10Y*
- 16.78%
SSLN.L vs. SSLV.L - 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% |
SSLV.L Invesco Physical Silver ETC | 2.83% | 130.03% | 23.22% | -5.88% | 15.90% | -12.13% | 41.64% | 11.90% | -3.30% | -5.28% |
Correlation
The correlation between SSLN.L and SSLV.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2011 | 0.87 |
The correlation between SSLN.L and SSLV.L shifts across timeframes, from 0.87 (all time) to 0.99 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SSLN.L vs. SSLV.L — Risk / Return Rank
SSLN.L
SSLV.L
SSLN.L vs. SSLV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (SSLN.L) and Invesco Physical Silver ETC (SSLV.L). 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 | SSLV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 2.93 | 0.00 |
| Martin ratioReturn relative to average drawdown | 6.46 | 6.45 | +0.01 |
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 | SSLV.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 2.04 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.66 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.56 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.16 | +0.01 |
Drawdowns
SSLN.L vs. SSLV.L - Drawdown Comparison
The maximum SSLN.L drawdown since its inception was -69.95%, roughly equal to the maximum SSLV.L drawdown of -67.74%. Use the drawdown chart below to compare losses from any high point for SSLN.L and SSLV.L.
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Drawdown Indicators
| SSLN.L | SSLV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.95% | -67.74% | -2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -38.72% | -38.71% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -38.72% | -38.71% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -38.72% | -38.71% | -0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -38.72% | -38.71% | -0.01% |
Current DrawdownCurrent decline from peak | -33.93% | -33.92% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -45.32% | -43.04% | -2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.56% | 17.61% | -0.05% |
Volatility
SSLN.L vs. SSLV.L - Volatility Comparison
iShares Physical Silver ETC (SSLN.L) and Invesco Physical Silver ETC (SSLV.L) have volatilities of 16.55% and 17.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSLN.L | SSLV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.55% | 17.13% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 52.03% | 52.96% | -0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.53% | 55.62% | -1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.31% | 33.89% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.70% | 30.07% | -0.37% |
SSLN.L vs. SSLV.L - Expense Ratio Comparison
SSLN.L has a 0.20% expense ratio, which is higher than SSLV.L's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SSLN.L vs. SSLV.L - Dividend Comparison
Neither SSLN.L nor SSLV.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, SSLN.L and SSLV.L 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.
On fees, SSLV.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSLV.L is cheaper with a 0.19% expense ratio, compared with 0.20% for SSLN.L.
Both ETFs track LBMA Silver Price. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for SSLN.L and 0.19% for SSLV.L.
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