SSLN.L vs. TSM
SSLN.L (iShares Physical Silver ETC) is Silver fund tracking the LBMA Silver Price, while TSM (Taiwan Semiconductor Manufacturing Company Limited) is a stock. Over the past 10 years, SSLN.L returned 14.83%/yr vs 36.50%/yr for TSM. At a 0.08 correlation, their price movements are largely independent.
Performance
SSLN.L vs. TSM - Performance Comparison
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Different Trading Currencies
SSLN.L is traded in GBp, while TSM is traded in USD. To make them comparable, the TSM 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 -5.21% return, which is significantly lower than TSM's 40.94% return. Over the past 10 years, SSLN.L has underperformed TSM with an annualized return of 14.83%, while TSM has yielded a comparatively higher 36.50% annualized return.
SSLN.L
- 1D
- 5.29%
- 1M
- -22.94%
- YTD
- -5.21%
- 6M
- 9.19%
- 1Y
- 88.53%
- 3Y*
- 38.49%
- 5Y*
- 20.27%
- 10Y*
- 14.83%
TSM
- 1D
- 0.77%
- 1M
- 7.22%
- YTD
- 40.94%
- 6M
- 45.55%
- 1Y
- 102.08%
- 3Y*
- 57.56%
- 5Y*
- 32.66%
- 10Y*
- 36.50%
SSLN.L vs. TSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSLN.L iShares Physical Silver ETC | -5.21% | 130.26% | 23.21% | -6.20% | 15.75% | -11.83% | 41.04% | 12.68% | -3.48% | -5.59% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 40.94% | 44.80% | 95.95% | 35.21% | -29.23% | 13.16% | 87.01% | 58.58% | 2.22% | 29.23% |
Correlation
The correlation between SSLN.L and TSM is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.08 |
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Return for Risk
SSLN.L vs. TSM — Risk / Return Rank
SSLN.L
TSM
SSLN.L vs. TSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (SSLN.L) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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 | TSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.43 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 6.49 | -4.40 |
| Martin ratioReturn relative to average drawdown | 4.71 | 21.22 | -16.51 |
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Drawdowns
SSLN.L vs. TSM - Drawdown Comparison
The maximum SSLN.L drawdown since its inception was -78.44%, which is greater than TSM's maximum drawdown of -48.30%. Use the drawdown chart below to compare losses from any high point for SSLN.L and TSM.
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Drawdown Indicators
| SSLN.L | TSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.44% | -48.30% | -30.14% |
Max Drawdown (1Y)Largest decline over 1 year | -42.08% | -15.82% | -26.26% |
Max Drawdown (3Y)Largest decline over 3 years | -42.08% | -38.98% | -3.10% |
Max Drawdown (5Y)Largest decline over 5 years | -42.08% | -48.30% | +6.22% |
Max Drawdown (10Y)Largest decline over 10 years | -42.08% | -48.30% | +6.22% |
Current DrawdownCurrent decline from peak | -39.02% | -4.43% | -34.59% |
Average DrawdownAverage peak-to-trough decline | -59.69% | -10.27% | -49.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.73% | 4.83% | +13.90% |
Volatility
SSLN.L vs. TSM - Volatility Comparison
iShares Physical Silver ETC (SSLN.L) has a higher volatility of 14.40% compared to Taiwan Semiconductor Manufacturing Company Limited (TSM) at 13.25%. This indicates that SSLN.L's price experiences larger fluctuations and is considered to be riskier than TSM 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 | TSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.40% | 13.25% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 52.43% | 27.53% | +24.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.28% | 35.66% | +19.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.41% | 36.18% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.14% | 33.66% | -2.52% |
Dividends
SSLN.L vs. TSM - Dividend Comparison
SSLN.L has not paid dividends to shareholders, while TSM's dividend yield for the trailing twelve months is around 0.83%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSLN.L iShares Physical Silver ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.83% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
Frequently Asked Questions
SSLN.L and TSM have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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