SVR-C.TO vs. SLVP
SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) and SLVP (iShares MSCI Global Silver and Metals Miners ETF) are both Silver funds from iShares - SVR-C.TO tracks the LBMA Silver Price while SLVP tracks the MSCI ACWI Select Silver Miners Investable Market Index. Both are passively managed. Over the past 10 years, SVR-C.TO returned 12.54%/yr vs 10.89%/yr for SLVP. At a 0.49 correlation, their price movements are largely independent. SVR-C.TO charges 0.66%/yr vs 0.39%/yr for SLVP.
Performance
SVR-C.TO vs. SLVP - Performance Comparison
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Different Trading Currencies
SVR-C.TO is traded in CAD, while SLVP is traded in USD. To make them comparable, the SLVP 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 -14.35% return, which is significantly lower than SLVP's -6.26% return. Over the past 10 years, SVR-C.TO has outperformed SLVP with an annualized return of 12.54%, while SLVP has yielded a comparatively lower 10.89% annualized return.
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%
SLVP
- 1D
- -0.29%
- 1M
- -13.85%
- YTD
- -6.26%
- 6M
- -7.82%
- 1Y
- 83.67%
- 3Y*
- 52.66%
- 5Y*
- 19.44%
- 10Y*
- 10.89%
SVR-C.TO vs. SLVP - 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% |
SLVP iShares MSCI Global Silver and Metals Miners ETF | -6.26% | 189.02% | 24.17% | -4.63% | -12.86% | -23.57% | 52.74% | 32.03% | -15.55% | -2.55% |
Correlation
The correlation between SVR-C.TO and SLVP is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | 0.49 |
Over the past year, SVR-C.TO and SLVP have become more correlated (0.74) than their long-term average of 0.49, meaning their price movements have been converging.
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Return for Risk
SVR-C.TO vs. SLVP — Risk / Return Rank
SVR-C.TO
SLVP
SVR-C.TO vs. SLVP - 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 MSCI Global Silver and Metals Miners ETF (SLVP). 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 | SLVP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.26 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 2.28 | -0.84 |
| Martin ratioReturn relative to average drawdown | 3.11 | 5.43 | -2.31 |
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Drawdowns
SVR-C.TO vs. SLVP - Drawdown Comparison
The maximum SVR-C.TO drawdown since its inception was -53.26%, smaller than the maximum SLVP drawdown of -71.84%. Use the drawdown chart below to compare losses from any high point for SVR-C.TO and SLVP.
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Drawdown Indicators
| SVR-C.TO | SLVP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.26% | -71.84% | +18.58% |
Max Drawdown (1Y)Largest decline over 1 year | -48.86% | -36.85% | -12.01% |
Max Drawdown (3Y)Largest decline over 3 years | -48.86% | -36.85% | -12.01% |
Max Drawdown (5Y)Largest decline over 5 years | -48.86% | -43.67% | -5.19% |
Max Drawdown (10Y)Largest decline over 10 years | -48.86% | -59.18% | +10.32% |
Current DrawdownCurrent decline from peak | -47.01% | -32.35% | -14.66% |
Average DrawdownAverage peak-to-trough decline | -28.94% | -36.14% | +7.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.60% | 15.47% | +7.13% |
Volatility
SVR-C.TO vs. SLVP - Volatility Comparison
The current volatility for iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) is 15.32%, while iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a volatility of 19.34%. This indicates that SVR-C.TO experiences smaller price fluctuations and is considered to be less risky than SLVP 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 | SLVP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.32% | 19.34% | -4.02% |
Volatility (6M)Calculated over the trailing 6-month period | 56.48% | 45.95% | +10.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.58% | 55.34% | +3.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.84% | 43.63% | -7.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.73% | 42.81% | -11.08% |
SVR-C.TO vs. SLVP - Expense Ratio Comparison
SVR-C.TO has a 0.66% expense ratio, which is higher than SLVP's 0.39% expense ratio.
Dividends
SVR-C.TO vs. SLVP - Dividend Comparison
SVR-C.TO has not paid dividends to shareholders, while SLVP's dividend yield for the trailing twelve months is around 2.28%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLVP iShares MSCI Global Silver and Metals Miners ETF | 2.28% | 1.78% | 1.05% | 0.88% | 0.63% | 1.63% | 2.39% | 2.03% | 1.28% | 0.85% | 2.32% | 0.72% |
SVR-C.TO iShares Silver Bullion ETF (Non-Hedged) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVR-C.TO and SLVP have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SLVP is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SLVP is cheaper with a 0.39% expense ratio, compared with 0.66% for SVR-C.TO.
SVR-C.TO tracks LBMA Silver Price, while SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index. Their fees differ too: 0.66% for SVR-C.TO and 0.39% for SLVP.
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