SSLV.L vs. IH2O.L
SSLV.L (Invesco Physical Silver ETC) and IH2O.L (iShares Global Water UCITS ETF) are both exchange-traded funds - SSLV.L is a Silver fund tracking the LBMA Silver Price, while IH2O.L is a Water Equities fund tracking the S&P Global Water TR. Both are passively managed. Over the past 10 years, SSLV.L returned 14.25%/yr vs 9.52%/yr for IH2O.L. At a 0.20 correlation, their price movements are largely independent. SSLV.L charges 0.19%/yr vs 0.65%/yr for IH2O.L.
Performance
SSLV.L vs. IH2O.L - Performance Comparison
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Different Trading Currencies
SSLV.L is traded in USD, while IH2O.L is traded in GBp. To make them comparable, the IH2O.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 -5.65% return, which is significantly lower than IH2O.L's -1.72% return. Over the past 10 years, SSLV.L has outperformed IH2O.L with an annualized return of 14.25%, while IH2O.L has yielded a comparatively lower 9.52% annualized return.
SSLV.L
- 1D
- 5.76%
- 1M
- -20.67%
- YTD
- -5.65%
- 6M
- 9.69%
- 1Y
- 86.40%
- 3Y*
- 41.36%
- 5Y*
- 19.05%
- 10Y*
- 14.25%
IH2O.L
- 1D
- 0.98%
- 1M
- -0.97%
- YTD
- -1.72%
- 6M
- -1.10%
- 1Y
- 3.28%
- 3Y*
- 7.92%
- 5Y*
- 4.12%
- 10Y*
- 9.52%
SSLV.L vs. IH2O.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSLV.L Invesco Physical Silver ETC | -5.65% | 147.68% | 21.09% | -0.91% | 3.59% | -12.95% | 45.93% | 16.31% | -8.53% | 3.47% |
IH2O.L iShares Global Water UCITS ETF | -1.72% | 18.03% | 4.26% | 12.99% | -20.80% | 31.05% | 14.70% | 34.62% | -10.76% | 26.68% |
Correlation
The correlation between SSLV.L and IH2O.L 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 | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.20 |
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Return for Risk
SSLV.L vs. IH2O.L — Risk / Return Rank
SSLV.L
IH2O.L
SSLV.L vs. IH2O.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Silver ETC (SSLV.L) and iShares Global Water UCITS ETF (IH2O.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 | IH2O.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.04 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 0.22 | +1.72 |
| Martin ratioReturn relative to average drawdown | 4.33 | 0.54 | +3.79 |
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Drawdowns
SSLV.L vs. IH2O.L - Drawdown Comparison
The maximum SSLV.L drawdown since its inception was -76.61%, roughly equal to the maximum IH2O.L drawdown of -77.04%. Use the drawdown chart below to compare losses from any high point for SSLV.L and IH2O.L.
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Drawdown Indicators
| SSLV.L | IH2O.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.61% | -77.04% | +0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -43.86% | -10.67% | -33.19% |
Max Drawdown (3Y)Largest decline over 3 years | -43.86% | -16.25% | -27.61% |
Max Drawdown (5Y)Largest decline over 5 years | -43.86% | -32.45% | -11.41% |
Max Drawdown (10Y)Largest decline over 10 years | -43.86% | -34.94% | -8.92% |
Current DrawdownCurrent decline from peak | -40.62% | -9.35% | -31.27% |
Average DrawdownAverage peak-to-trough decline | -53.75% | -30.54% | -23.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.72% | 4.41% | +15.31% |
Volatility
SSLV.L vs. IH2O.L - Volatility Comparison
Invesco Physical Silver ETC (SSLV.L) has a higher volatility of 15.66% compared to iShares Global Water UCITS ETF (IH2O.L) at 4.03%. This indicates that SSLV.L's price experiences larger fluctuations and is considered to be riskier than IH2O.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 | IH2O.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.66% | 4.03% | +11.63% |
Volatility (6M)Calculated over the trailing 6-month period | 54.80% | 10.62% | +44.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.67% | 13.41% | +44.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.79% | 16.48% | +19.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.03% | 16.61% | +14.42% |
SSLV.L vs. IH2O.L - Expense Ratio Comparison
SSLV.L has a 0.19% expense ratio, which is lower than IH2O.L's 0.65% expense ratio.
Dividends
SSLV.L vs. IH2O.L - Dividend Comparison
SSLV.L has not paid dividends to shareholders, while IH2O.L's dividend yield for the trailing twelve months is around 1.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IH2O.L iShares Global Water UCITS ETF | 1.43% | 1.35% | 1.05% | 1.21% | 1.11% | 1.67% | 1.00% | 1.43% | 1.77% | 1.52% | 1.62% | 1.61% |
SSLV.L Invesco 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% |
Frequently Asked Questions
SSLV.L and IH2O.L 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.
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 0.65% for IH2O.L.
SSLV.L is categorized as Silver, while IH2O.L is Water Equities. SSLV.L tracks LBMA Silver Price, while IH2O.L tracks S&P Global Water TR. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for SSLV.L and 0.65% for IH2O.L.
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