SVR-C.TO vs. SHLD
SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - SVR-C.TO is a Silver fund tracking the LBMA Silver Price, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, SVR-C.TO returned 112.17% vs 11.13% for SHLD. At a 0.08 correlation, their price movements are largely independent. SVR-C.TO charges 0.66%/yr vs 0.50%/yr for SHLD.
Performance
SVR-C.TO vs. SHLD - Performance Comparison
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Different Trading Currencies
SVR-C.TO is traded in CAD, while SHLD is traded in USD. To make them comparable, the SHLD 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 higher than SHLD's -1.04% 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%
SHLD
- 1D
- -1.99%
- 1M
- -5.15%
- YTD
- -1.04%
- 6M
- 1.32%
- 1Y
- 11.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SVR-C.TO vs. SHLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | 3.58% | 132.91% | 30.61% | 1.08% |
SHLD Global X Defense Tech ETF | -1.04% | 66.17% | 46.63% | 10.35% |
Correlation
The correlation between SVR-C.TO and SHLD is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023 | 0.08 |
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Return for Risk
SVR-C.TO vs. SHLD — Risk / Return Rank
SVR-C.TO
SHLD
SVR-C.TO vs. SHLD - 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 Global X Defense Tech ETF (SHLD). 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 | SHLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.51 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.10 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 0.53 | +2.18 |
| Martin ratioReturn relative to average drawdown | 5.83 | 1.39 | +4.44 |
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 | SHLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 0.48 | +1.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 2.16 | -1.93 |
Drawdowns
SVR-C.TO vs. SHLD - Drawdown Comparison
The maximum SVR-C.TO drawdown since its inception was -61.14%, which is greater than SHLD's maximum drawdown of -20.96%. Use the drawdown chart below to compare losses from any high point for SVR-C.TO and SHLD.
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Drawdown Indicators
| SVR-C.TO | SHLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.14% | -20.96% | -40.18% |
Max Drawdown (1Y)Largest decline over 1 year | -41.54% | -20.96% | -20.58% |
Max Drawdown (3Y)Largest decline over 3 years | -41.54% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -41.54% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.54% | — | — |
Current DrawdownCurrent decline from peak | -35.92% | -18.84% | -17.08% |
Average DrawdownAverage peak-to-trough decline | -35.58% | -3.13% | -32.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.30% | 8.00% | +11.30% |
Volatility
SVR-C.TO vs. SHLD - Volatility Comparison
iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) has a higher volatility of 16.01% compared to Global X Defense Tech ETF (SHLD) at 7.73%. This indicates that SVR-C.TO's price experiences larger fluctuations and is considered to be riskier than SHLD 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 | SHLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.01% | 7.73% | +8.28% |
Volatility (6M)Calculated over the trailing 6-month period | 55.45% | 18.81% | +36.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.72% | 23.43% | +33.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.57% | 20.16% | +16.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.57% | 20.16% | +13.41% |
SVR-C.TO vs. SHLD - Expense Ratio Comparison
SVR-C.TO has a 0.66% expense ratio, which is higher than SHLD's 0.50% expense ratio.
Dividends
SVR-C.TO vs. SHLD - Dividend Comparison
SVR-C.TO has not paid dividends to shareholders, while SHLD's dividend yield for the trailing twelve months is around 0.56%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SHLD Global X Defense Tech ETF | 0.56% | 0.55% | 0.53% | 0.26% |
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVR-C.TO and SHLD have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHLD is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHLD is cheaper with a 0.50% expense ratio, compared with 0.66% for SVR-C.TO.
SVR-C.TO is categorized as Silver, while SHLD is Aerospace & Defense. SVR-C.TO tracks LBMA Silver Price, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.66% for SVR-C.TO and 0.50% for SHLD.
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