SSLV.L vs. IBTA.L
SSLV.L (Invesco Physical Silver ETC) and IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) are both exchange-traded funds - SSLV.L is a Silver fund tracking the LBMA Silver Price, while IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, SSLV.L returned 17.29%/yr vs 1.94%/yr for IBTA.L. At a 0.18 correlation, their price movements are largely independent. SSLV.L charges 0.19%/yr vs 0.07%/yr for IBTA.L.
Performance
SSLV.L vs. IBTA.L - Performance Comparison
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Returns By Period
In the year-to-date period, SSLV.L achieves a -19.56% return, which is significantly lower than IBTA.L's 0.68% return.
SSLV.L
- 1D
- -2.16%
- 1M
- -18.41%
- 6M
- -37.05%
- YTD
- -19.56%
- 1Y
- 53.08%
- 3Y*
- 32.06%
- 5Y*
- 17.29%
- 10Y*
- 10.79%
IBTA.L
- 1D
- 0.17%
- 1M
- 0.17%
- 6M
- 0.85%
- YTD
- 0.68%
- 1Y
- 3.47%
- 3Y*
- 4.32%
- 5Y*
- 1.94%
- 10Y*
- —
SSLV.L vs. IBTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSLV.L Invesco Physical Silver ETC | -19.56% | 147.68% | 21.09% | -0.91% | 3.59% | -12.95% | 45.93% | 16.31% | -8.53% | -8.32% |
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.68% | 5.34% | 4.07% | 4.21% | -3.75% | -0.64% | 3.14% | 3.62% | 1.40% | -0.20% |
Correlation
The correlation between SSLV.L and IBTA.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2017 | 0.18 |
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Return for Risk
SSLV.L vs. IBTA.L — Risk / Return Rank
SSLV.L
IBTA.L
SSLV.L vs. IBTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Silver ETC (SSLV.L) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.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 | IBTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.65 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 5.14 | -4.08 |
| Martin ratioReturn relative to average drawdown | 2.20 | 17.96 | -15.76 |
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Drawdowns
SSLV.L vs. IBTA.L - Drawdown Comparison
The maximum SSLV.L drawdown since its inception was -76.61%, which is greater than IBTA.L's maximum drawdown of -5.80%. Use the drawdown chart below to compare losses from any high point for SSLV.L and IBTA.L.
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Drawdown Indicators
| SSLV.L | IBTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.61% | -5.80% | -70.81% |
Max Drawdown (1Y)Largest decline over 1 year | -49.65% | -0.67% | -48.98% |
Max Drawdown (3Y)Largest decline over 3 years | -49.65% | -0.89% | -48.76% |
Max Drawdown (5Y)Largest decline over 5 years | -49.65% | -5.70% | -43.95% |
Max Drawdown (10Y)Largest decline over 10 years | -49.65% | — | — |
Current DrawdownCurrent decline from peak | -49.37% | 0.00% | -49.37% |
Average DrawdownAverage peak-to-trough decline | -53.70% | -0.96% | -52.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.09% | 0.19% | +23.90% |
Volatility
SSLV.L vs. IBTA.L - Volatility Comparison
Invesco Physical Silver ETC (SSLV.L) has a higher volatility of 14.48% compared to iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) at 0.52%. This indicates that SSLV.L's price experiences larger fluctuations and is considered to be riskier than IBTA.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 | IBTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.48% | 0.52% | +13.96% |
Volatility (6M)Calculated over the trailing 6-month period | 53.69% | 1.16% | +52.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.38% | 1.57% | +57.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.30% | 2.18% | +34.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.24% | 1.93% | +29.31% |
SSLV.L vs. IBTA.L - Expense Ratio Comparison
SSLV.L has a 0.19% expense ratio, which is higher than IBTA.L's 0.07% 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
SSLV.L vs. IBTA.L - Dividend Comparison
Neither SSLV.L nor IBTA.L has paid dividends to shareholders.
Frequently Asked Questions
SSLV.L and IBTA.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.19% for SSLV.L.
SSLV.L is categorized as Silver, while IBTA.L is Government Bonds. SSLV.L tracks LBMA Silver Price, while IBTA.L tracks ICE US Treasury 1-3 Year Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for SSLV.L and 0.07% for IBTA.L.
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