SVR-C.TO vs. BWET
SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - SVR-C.TO is a Silver fund tracking the LBMA Silver Price, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, SVR-C.TO returned 43.04%/yr vs 118.54%/yr for BWET. At a 0.11 correlation, their price movements are largely independent. SVR-C.TO charges 0.66%/yr vs 3.50%/yr for BWET.
Performance
SVR-C.TO vs. BWET - Performance Comparison
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Different Trading Currencies
SVR-C.TO is traded in CAD, while BWET is traded in USD. To make them comparable, the BWET values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SVR-C.TO achieves a -3.47% return, which is significantly lower than BWET's 958.70% return.
SVR-C.TO
- 1D
- 1.42%
- 1M
- -17.08%
- YTD
- -3.47%
- 6M
- 10.25%
- 1Y
- 89.11%
- 3Y*
- 43.04%
- 5Y*
- 22.05%
- 10Y*
- 14.84%
BWET
- 1D
- 4.84%
- 1M
- 13.84%
- YTD
- 958.70%
- 6M
- 704.90%
- 1Y
- 1,758.22%
- 3Y*
- 118.54%
- 5Y*
- —
- 10Y*
- —
SVR-C.TO vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | -3.47% | 132.91% | 30.61% | -7.69% |
BWET Breakwave Tanker Shipping ETF | 958.70% | 87.26% | -34.06% | 10.87% |
Correlation
The correlation between SVR-C.TO and BWET is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | 0.11 |
The correlation between SVR-C.TO and BWET shifts across timeframes, from 0.00 (1 year) to 0.11 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SVR-C.TO vs. BWET — Risk / Return Rank
SVR-C.TO
BWET
SVR-C.TO vs. BWET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) and Breakwave Tanker Shipping ETF (BWET). 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.
| SVR-C.TO | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.43 | ||
| Sortino ratioReturn per unit of downside risk | -4.86 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.97 | -0.67 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 63.86 | -61.83 |
| Martin ratioReturn relative to average drawdown | 4.36 | 170.29 | -165.94 |
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Drawdowns
SVR-C.TO vs. BWET - Drawdown Comparison
The maximum SVR-C.TO drawdown since its inception was -53.26%, roughly equal to the maximum BWET drawdown of -53.68%. Use the drawdown chart below to compare losses from any high point for SVR-C.TO and BWET.
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Drawdown Indicators
| SVR-C.TO | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.26% | -53.68% | +0.42% |
Max Drawdown (1Y)Largest decline over 1 year | -43.91% | -31.06% | -12.85% |
Max Drawdown (3Y)Largest decline over 3 years | -43.91% | -53.68% | +9.77% |
Max Drawdown (5Y)Largest decline over 5 years | -43.91% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.91% | — | — |
Current DrawdownCurrent decline from peak | -40.29% | -4.27% | -36.02% |
Average DrawdownAverage peak-to-trough decline | -28.89% | -22.65% | -6.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.45% | 11.63% | +8.82% |
Volatility
SVR-C.TO vs. BWET - Volatility Comparison
The current volatility for iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) is 15.49%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 25.07%. This indicates that SVR-C.TO experiences smaller price fluctuations and is considered to be less risky than BWET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVR-C.TO | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.49% | 25.07% | -9.58% |
Volatility (6M)Calculated over the trailing 6-month period | 56.18% | 89.31% | -33.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.55% | 99.28% | -41.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.53% | 70.67% | -35.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.58% | 70.67% | -39.09% |
SVR-C.TO vs. BWET - Expense Ratio Comparison
SVR-C.TO has a 0.66% expense ratio, which is lower than BWET's 3.50% expense ratio.
Dividends
SVR-C.TO vs. BWET - Dividend Comparison
Neither SVR-C.TO nor BWET has paid dividends to shareholders.
Frequently Asked Questions
SVR-C.TO and BWET have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SVR-C.TO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SVR-C.TO is cheaper with a 0.66% expense ratio, compared with 3.50% for BWET.
SVR-C.TO is categorized as Silver, while BWET is Commodities. SVR-C.TO tracks LBMA Silver Price, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: iShares and Amplify. Their fees differ too: 0.66% for SVR-C.TO and 3.50% for BWET.
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