SSLV.L vs. ACWI.L
SSLV.L (Invesco Physical Silver ETC) and ACWI.L (SPDR MSCI ACWI UCITS ETF) are both exchange-traded funds - SSLV.L is a Silver fund tracking the LBMA Silver Price, while ACWI.L is a Global Equities fund tracking the MSCI ACWI Index. Both are passively managed. Over the past 10 years, SSLV.L returned 12.34%/yr vs -30.56%/yr for ACWI.L. At a 0.26 correlation, their price movements are largely independent. SSLV.L charges 0.19%/yr vs 0.40%/yr for ACWI.L.
Performance
SSLV.L vs. ACWI.L - Performance Comparison
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Different Trading Currencies
SSLV.L is traded in USD, while ACWI.L is traded in GBP. To make them comparable, the ACWI.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SSLV.L achieves a -18.58% return, which is significantly lower than ACWI.L's 9.50% return. Over the past 10 years, SSLV.L has outperformed ACWI.L with an annualized return of 12.34%, while ACWI.L has yielded a comparatively lower -30.56% annualized return.
SSLV.L
- 1D
- -1.03%
- 1M
- -23.31%
- YTD
- -18.58%
- 6M
- -19.43%
- 1Y
- 61.90%
- 3Y*
- 36.44%
- 5Y*
- 17.25%
- 10Y*
- 12.34%
ACWI.L
- 1D
- -0.26%
- 1M
- -1.17%
- YTD
- 9.50%
- 6M
- 9.42%
- 1Y
- 24.36%
- 3Y*
- 20.16%
- 5Y*
- -58.71%
- 10Y*
- -30.56%
SSLV.L vs. ACWI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSLV.L Invesco Physical Silver ETC | -18.58% | 147.68% | 21.09% | -0.91% | 3.59% | -12.95% | 45.93% | 16.31% | -8.53% | 3.47% |
ACWI.L SPDR MSCI ACWI UCITS ETF | 9.50% | 22.95% | 17.67% | 21.68% | -18.36% | -99.13% | 19.24% | 31.56% | -14.69% | 35.62% |
Correlation
The correlation between SSLV.L and ACWI.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since May 16, 2011 | 0.26 |
The correlation between SSLV.L and ACWI.L shifts across timeframes, from 0.26 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SSLV.L vs. ACWI.L — Risk / Return Rank
SSLV.L
ACWI.L
SSLV.L vs. ACWI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Silver ETC (SSLV.L) and SPDR MSCI ACWI UCITS ETF (ACWI.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.
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.
| SSLV.L | ACWI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.36 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 2.67 | -1.40 |
| Martin ratioReturn relative to average drawdown | 2.90 | 11.23 | -8.33 |
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Drawdowns
SSLV.L vs. ACWI.L - Drawdown Comparison
The maximum SSLV.L drawdown since its inception was -76.61%, smaller than the maximum ACWI.L drawdown of -99.46%. Use the drawdown chart below to compare losses from any high point for SSLV.L and ACWI.L.
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Drawdown Indicators
| SSLV.L | ACWI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.61% | -99.46% | +22.85% |
Max Drawdown (1Y)Largest decline over 1 year | -48.76% | -9.09% | -39.67% |
Max Drawdown (3Y)Largest decline over 3 years | -48.76% | -19.12% | -29.64% |
Max Drawdown (5Y)Largest decline over 5 years | -48.76% | -99.46% | +50.70% |
Max Drawdown (10Y)Largest decline over 10 years | -48.76% | -99.46% | +50.70% |
Current DrawdownCurrent decline from peak | -48.76% | -98.84% | +50.08% |
Average DrawdownAverage peak-to-trough decline | -53.72% | -36.55% | -17.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.31% | 2.16% | +19.15% |
Volatility
SSLV.L vs. ACWI.L - Volatility Comparison
Invesco Physical Silver ETC (SSLV.L) has a higher volatility of 15.34% compared to SPDR MSCI ACWI UCITS ETF (ACWI.L) at 4.01%. This indicates that SSLV.L's price experiences larger fluctuations and is considered to be riskier than ACWI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSLV.L | ACWI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.34% | 4.01% | +11.33% |
Volatility (6M)Calculated over the trailing 6-month period | 55.52% | 9.81% | +45.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.71% | 12.21% | +46.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.04% | 48.99% | -12.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.21% | 37.31% | -6.10% |
SSLV.L vs. ACWI.L - Expense Ratio Comparison
SSLV.L has a 0.19% expense ratio, which is lower than ACWI.L's 0.40% expense ratio.
Dividends
SSLV.L vs. ACWI.L - Dividend Comparison
Neither SSLV.L nor ACWI.L has paid dividends to shareholders.
Frequently Asked Questions
SSLV.L and ACWI.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.40% for ACWI.L.
SSLV.L is categorized as Silver, while ACWI.L is Global Equities. SSLV.L tracks LBMA Silver Price, while ACWI.L tracks MSCI ACWI Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.19% for SSLV.L and 0.40% for ACWI.L.
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