SVR-C.TO vs. IAU
SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) and IAU (iShares Gold Trust) are both exchange-traded funds - SVR-C.TO is a Silver fund tracking the LBMA Silver Price, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, SVR-C.TO returned 16.32%/yr vs 14.13%/yr for IAU. At a 0.49 correlation, their price movements are largely independent. SVR-C.TO charges 0.66%/yr vs 0.25%/yr for IAU.
Performance
SVR-C.TO vs. IAU - Performance Comparison
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Different Trading Currencies
SVR-C.TO is traded in CAD, while IAU is traded in USD. To make them comparable, the IAU 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 3.58% return, which is significantly lower than IAU's 4.29% return. Over the past 10 years, SVR-C.TO has outperformed IAU with an annualized return of 16.32%, while IAU has yielded a comparatively lower 14.13% annualized return.
SVR-C.TO
- 1D
- -2.08%
- 1M
- 2.36%
- YTD
- 3.58%
- 6M
- 23.35%
- 1Y
- 112.17%
- 3Y*
- 46.44%
- 5Y*
- 24.24%
- 10Y*
- 16.32%
IAU
- 1D
- -0.58%
- 1M
- 0.34%
- YTD
- 4.29%
- 6M
- 5.10%
- 1Y
- 33.91%
- 3Y*
- 32.81%
- 5Y*
- 21.71%
- 10Y*
- 14.13%
SVR-C.TO vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | 3.58% | 132.91% | 30.61% | -2.65% | 9.31% | -12.72% | 43.88% | 9.28% | -2.35% | -2.30% |
IAU iShares Gold Trust | 4.29% | 56.43% | 37.75% | 10.35% | 6.45% | -4.87% | 22.92% | 12.18% | 6.57% | 5.72% |
Correlation
The correlation between SVR-C.TO and IAU is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2011 | 0.49 |
The correlation between SVR-C.TO and IAU shifts across timeframes, from 0.47 (10 years) to 0.67 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SVR-C.TO vs. IAU — Risk / Return Rank
SVR-C.TO
IAU
SVR-C.TO vs. IAU - 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 iShares Gold Trust (IAU). 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.
| SVR-C.TO | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.27 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 1.98 | +0.74 |
| Martin ratioReturn relative to average drawdown | 5.83 | 4.86 | +0.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SVR-C.TO | IAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 1.35 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 1.30 | -0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.93 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.66 | -0.43 |
Drawdowns
SVR-C.TO vs. IAU - Drawdown Comparison
The maximum SVR-C.TO drawdown since its inception was -61.14%, which is greater than IAU's maximum drawdown of -33.38%. Use the drawdown chart below to compare losses from any high point for SVR-C.TO and IAU.
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Drawdown Indicators
| SVR-C.TO | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.14% | -33.38% | -27.76% |
Max Drawdown (1Y)Largest decline over 1 year | -41.54% | -17.22% | -24.32% |
Max Drawdown (3Y)Largest decline over 3 years | -41.54% | -17.22% | -24.32% |
Max Drawdown (5Y)Largest decline over 5 years | -41.54% | -17.36% | -24.18% |
Max Drawdown (10Y)Largest decline over 10 years | -41.54% | -22.84% | -18.70% |
Current DrawdownCurrent decline from peak | -35.92% | -15.37% | -20.55% |
Average DrawdownAverage peak-to-trough decline | -35.58% | -11.38% | -24.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.30% | 7.00% | +12.30% |
Volatility
SVR-C.TO vs. IAU - Volatility Comparison
iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) has a higher volatility of 16.01% compared to iShares Gold Trust (IAU) at 5.36%. This indicates that SVR-C.TO's price experiences larger fluctuations and is considered to be riskier than IAU 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 | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.01% | 5.36% | +10.65% |
Volatility (6M)Calculated over the trailing 6-month period | 55.45% | 21.69% | +33.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.72% | 25.20% | +31.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.57% | 16.79% | +19.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.57% | 15.32% | +18.25% |
SVR-C.TO vs. IAU - Expense Ratio Comparison
SVR-C.TO has a 0.66% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
SVR-C.TO vs. IAU - Dividend Comparison
Neither SVR-C.TO nor IAU has paid dividends to shareholders.
Frequently Asked Questions
SVR-C.TO and IAU have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAU is cheaper with a 0.25% expense ratio, compared with 0.66% for SVR-C.TO.
SVR-C.TO is categorized as Silver, while IAU is Gold. SVR-C.TO tracks LBMA Silver Price, while IAU tracks LBMA Gold Price. Their fees differ too: 0.66% for SVR-C.TO and 0.25% for IAU.
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