SVR-C.TO vs. SI=F

Last updated Jun 5, 2026

SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) is Silver fund tracking the LBMA Silver Price, while SI=F (Silver) is an asset. Over the past 10 years, SVR-C.TO returned 16.34%/yr vs 17.08%/yr for SI=F. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

SVR-C.TO vs. SI=F - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) and Silver (SI=F). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SVR-C.TO is traded in CAD, while SI=F is traded in USD. To make them comparable, the SI=F 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 4.34% return, which is significantly lower than SI=F's 5.71% return. Both investments have delivered pretty close results over the past 10 years, with SVR-C.TO having a 16.34% annualized return and SI=F not far ahead at 17.08%.

SVR-C.TO

• 1D: 0.73%
• 1M: 3.50%
• YTD: 4.34%
• 6M: 27.93%
• 1Y: 114.32%
• 3Y*: 47.04%
• 5Y*: 24.42%
• 10Y*: 16.34%

SI=F

• 1D: -2.06%
• 1M: 2.19%
• YTD: 5.71%
• 6M: 27.62%
• 1Y: 116.09%
• 3Y*: 47.34%
• 5Y*: 24.90%
• 10Y*: 17.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SVR-C.TO vs. SI=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged)	4.34%	132.91%	30.61%	-2.65%	9.31%	-12.72%	43.88%	9.28%	-2.35%	-2.30%
SI=F Silver	5.71%	130.37%	31.84%	-2.02%	10.28%	-12.38%	44.89%	9.65%	-1.67%	0.40%

Correlation

The correlation between SVR-C.TO and SI=F is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 6, 2011	0.63

The correlation between SVR-C.TO and SI=F has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.

Return for Risk

SVR-C.TO vs. SI=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SVR-C.TO

SVR-C.TO Risk / Return Rank: 52
SVR-C.TO Sharpe Ratio Rank: 62
SVR-C.TO Sortino Ratio Rank: 44
SVR-C.TO Omega Ratio Rank: 61
SVR-C.TO Calmar Ratio Rank: 57
SVR-C.TO Martin Ratio Rank: 39

SI=F

SI=F Risk / Return Rank: 67
SI=F Sharpe Ratio Rank: 68
SI=F Sortino Ratio Rank: 68
SI=F Omega Ratio Rank: 71
SI=F Calmar Ratio Rank: 68
SI=F Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SVR-C.TO vs. SI=F - 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 Silver (SI=F). 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	SI=F	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.52	+0.51
Sortino ratio: Return per unit of downside risk	2.16	1.92	+0.24
Omega ratio: Gain probability vs. loss probability	1.37	1.33	+0.04
Calmar ratio: Return relative to maximum drawdown	2.77	2.21	+0.55
Martin ratio: Return relative to average drawdown	5.90	4.69	+1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SVR-C.TO vs. SI=F - Sharpe Ratio Comparison

The current SVR-C.TO Sharpe Ratio is 2.03, which is higher than the SI=F Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of SVR-C.TO and SI=F, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SVR-C.TO	SI=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	1.52	+0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.63	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.50	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.34	-0.11

Drawdowns

SVR-C.TO vs. SI=F - Drawdown Comparison

The maximum SVR-C.TO drawdown since its inception was -61.14%, roughly equal to the maximum SI=F drawdown of -62.82%. Use the drawdown chart below to compare losses from any high point for SVR-C.TO and SI=F.

Drawdown Indicators

	SVR-C.TO	SI=F	Difference
Max Drawdown Largest peak-to-trough decline	-61.14%	-62.82%	+1.68%
Max Drawdown (1Y) Largest decline over 1 year	-41.54%	-40.56%	-0.98%
Max Drawdown (3Y) Largest decline over 3 years	-41.54%	-40.56%	-0.98%
Max Drawdown (5Y) Largest decline over 5 years	-41.54%	-40.56%	-0.98%
Max Drawdown (10Y) Largest decline over 10 years	-41.54%	-40.72%	-0.82%
Current Drawdown Current decline from peak	-35.45%	-35.12%	-0.33%
Average Drawdown Average peak-to-trough decline	-35.58%	-34.42%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.43%	20.92%	-1.49%

Volatility

SVR-C.TO vs. SI=F - Volatility Comparison

iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) has a higher volatility of 16.02% compared to Silver (SI=F) at 14.47%. This indicates that SVR-C.TO's price experiences larger fluctuations and is considered to be riskier than SI=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVR-C.TO	SI=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.02%	14.47%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	55.45%	59.37%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	56.72%	59.22%	-2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.56%	36.67%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.57%	32.45%	+1.12%

Frequently Asked Questions

Can I hold both SVR-C.TO and SI=F in my portfolio?

SVR-C.TO and SI=F have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.