SVR-C.TO vs. SIVR
SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) and SIVR (abrdn Physical Silver Shares ETF) are both Silver funds - SVR-C.TO tracks the LBMA Silver Price while SIVR tracks the LBMA Silver Price ($/ozt). Both are passively managed. Over the past 10 years, SVR-C.TO returned 12.54%/yr vs 12.32%/yr for SIVR. A 0.65 correlation means they provide meaningful diversification when combined. SVR-C.TO charges 0.66%/yr vs 0.30%/yr for SIVR.
Performance
SVR-C.TO vs. SIVR - Performance Comparison
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Different Trading Currencies
SVR-C.TO is traded in CAD, while SIVR is traded in USD. To make them comparable, the SIVR values have been converted to CAD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with SVR-C.TO having a -14.35% return and SIVR slightly higher at -13.76%. Both investments have delivered pretty close results over the past 10 years, with SVR-C.TO having a 12.54% annualized return and SIVR not far behind at 12.32%.
SVR-C.TO
- 1D
- 1.87%
- 1M
- -19.40%
- YTD
- -14.35%
- 6M
- -19.83%
- 1Y
- 70.15%
- 3Y*
- 39.87%
- 5Y*
- 20.27%
- 10Y*
- 12.54%
SIVR
- 1D
- 1.73%
- 1M
- -19.27%
- YTD
- -13.76%
- 6M
- -19.39%
- 1Y
- 69.68%
- 3Y*
- 40.26%
- 5Y*
- 20.76%
- 10Y*
- 12.32%
SVR-C.TO vs. SIVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | -14.35% | 132.91% | 30.61% | -2.65% | 9.69% | -13.03% | 43.88% | 9.28% | -2.35% | -2.30% |
SIVR abrdn Physical Silver Shares ETF | -13.76% | 134.14% | 31.33% | -3.27% | 9.09% | -12.37% | 44.02% | 10.42% | -1.31% | -1.21% |
Correlation
The correlation between SVR-C.TO and SIVR is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2012 | 0.65 |
Over the past year, SVR-C.TO and SIVR have become more correlated (0.91) than their long-term average of 0.65, meaning their price movements have been converging.
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Return for Risk
SVR-C.TO vs. SIVR — Risk / Return Rank
SVR-C.TO
SIVR
SVR-C.TO vs. SIVR - 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 abrdn Physical Silver Shares ETF (SIVR). 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 | SIVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 1.44 | 0.00 |
| Martin ratioReturn relative to average drawdown | 3.11 | 3.12 | 0.00 |
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Drawdowns
SVR-C.TO vs. SIVR - Drawdown Comparison
The maximum SVR-C.TO drawdown since its inception was -53.26%, smaller than the maximum SIVR drawdown of -63.83%. Use the drawdown chart below to compare losses from any high point for SVR-C.TO and SIVR.
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Drawdown Indicators
| SVR-C.TO | SIVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.26% | -63.83% | +10.57% |
Max Drawdown (1Y)Largest decline over 1 year | -48.86% | -48.68% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -48.86% | -48.68% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -48.86% | -48.68% | -0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -48.86% | -48.68% | -0.18% |
Current DrawdownCurrent decline from peak | -47.01% | -46.99% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -28.94% | -36.63% | +7.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.60% | 22.43% | +0.17% |
Volatility
SVR-C.TO vs. SIVR - Volatility Comparison
iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) and abrdn Physical Silver Shares ETF (SIVR) have volatilities of 15.32% and 15.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVR-C.TO | SIVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.32% | 15.62% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 56.48% | 58.73% | -2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.58% | 60.35% | -1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.84% | 37.13% | -1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.73% | 32.73% | -1.00% |
SVR-C.TO vs. SIVR - Expense Ratio Comparison
SVR-C.TO has a 0.66% expense ratio, which is higher than SIVR's 0.30% expense ratio.
Dividends
SVR-C.TO vs. SIVR - Dividend Comparison
Neither SVR-C.TO nor SIVR has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, SVR-C.TO and SIVR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SIVR is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SIVR is cheaper with a 0.30% expense ratio, compared with 0.66% for SVR-C.TO.
SVR-C.TO tracks LBMA Silver Price, while SIVR tracks LBMA Silver Price ($/ozt). They also come from different issuers: iShares and abrdn. Their fees differ too: 0.66% for SVR-C.TO and 0.30% for SIVR.
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