SSLN.L vs. XSLE.DE
SSLN.L (iShares Physical Silver ETC) and XSLE.DE (Xtrackers IE Physical Silver (EUR Hedged) ETC Securities) are both Silver funds - SSLN.L tracks the LBMA Silver Price while XSLE.DE tracks the LBMA Silver Price (EUR Hedged). Both are passively managed. Over the past 5 years, SSLN.L returned 18.76%/yr vs 12.89%/yr for XSLE.DE. Their correlation of 0.91 suggests significant overlap in exposure. SSLN.L charges 0.20%/yr vs 0.73%/yr for XSLE.DE.
Performance
SSLN.L vs. XSLE.DE - Performance Comparison
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Different Trading Currencies
SSLN.L is traded in GBp, while XSLE.DE is traded in EUR. To make them comparable, the XSLE.DE 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 XSLE.DE's -27.13% 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%
XSLE.DE
- 1D
- 0.00%
- 1M
- -24.53%
- YTD
- -27.13%
- 6M
- -27.13%
- 1Y
- 53.82%
- 3Y*
- 31.40%
- 5Y*
- 12.89%
- 10Y*
- —
SSLN.L vs. XSLE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SSLN.L iShares Physical Silver ETC | -15.38% | 130.26% | 23.21% | -6.20% | 15.75% | -11.83% | 51.80% |
XSLE.DE Xtrackers IE Physical Silver (EUR Hedged) ETC Securities | -27.13% | 162.25% | 14.91% | -6.76% | 5.78% | -21.27% | 69.61% |
Correlation
The correlation between SSLN.L and XSLE.DE is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 14, 2020 | 0.91 |
The correlation between SSLN.L and XSLE.DE has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
SSLN.L vs. XSLE.DE — Risk / Return Rank
SSLN.L
XSLE.DE
SSLN.L vs. XSLE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Silver ETC (SSLN.L) and Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE). 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 | XSLE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.21 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 1.06 | +0.44 |
| Martin ratioReturn relative to average drawdown | 3.40 | 2.38 | +1.03 |
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Drawdowns
SSLN.L vs. XSLE.DE - Drawdown Comparison
The maximum SSLN.L drawdown since its inception was -78.44%, which is greater than XSLE.DE's maximum drawdown of -50.63%. Use the drawdown chart below to compare losses from any high point for SSLN.L and XSLE.DE.
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Drawdown Indicators
| SSLN.L | XSLE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.44% | -50.63% | -27.81% |
Max Drawdown (1Y)Largest decline over 1 year | -47.19% | -50.63% | +3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -47.19% | -50.63% | +3.44% |
Max Drawdown (5Y)Largest decline over 5 years | -47.19% | -50.63% | +3.44% |
Max Drawdown (10Y)Largest decline over 10 years | -47.19% | — | — |
Current DrawdownCurrent decline from peak | -45.56% | -50.63% | +5.07% |
Average DrawdownAverage peak-to-trough decline | -59.64% | -21.00% | -38.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.86% | 22.58% | -1.72% |
Volatility
SSLN.L vs. XSLE.DE - Volatility Comparison
iShares Physical Silver ETC (SSLN.L) and Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE) have volatilities of 14.91% and 15.37%, 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 | XSLE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.91% | 15.37% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 53.08% | 54.86% | -1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.25% | 58.26% | -2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.68% | 35.60% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.05% | 35.59% | -4.54% |
SSLN.L vs. XSLE.DE - Expense Ratio Comparison
SSLN.L has a 0.20% expense ratio, which is lower than XSLE.DE's 0.73% expense ratio.
Dividends
SSLN.L vs. XSLE.DE - Dividend Comparison
Neither SSLN.L nor XSLE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, SSLN.L and XSLE.DE 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, 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 0.73% for XSLE.DE.
SSLN.L tracks LBMA Silver Price, while XSLE.DE tracks LBMA Silver Price (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.20% for SSLN.L and 0.73% for XSLE.DE.
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