SVR-C.TO vs. XEI.TO

Last updated Jun 4, 2026

SVR-C.TO (iShares Silver Bullion ETF (Non-Hedged)) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - SVR-C.TO is a Silver fund tracking the LBMA Silver Price, while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. Both are passively managed. Over the past 10 years, SVR-C.TO returned 16.32%/yr vs 12.32%/yr for XEI.TO. At a 0.10 correlation, their price movements are largely independent. SVR-C.TO charges 0.66%/yr vs 0.22%/yr for XEI.TO.

Performance

SVR-C.TO vs. XEI.TO - 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 iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVR-C.TO achieves a 3.58% return, which is significantly lower than XEI.TO's 22.21% return. Over the past 10 years, SVR-C.TO has outperformed XEI.TO with an annualized return of 16.32%, while XEI.TO has yielded a comparatively lower 12.32% 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%

XEI.TO

• 1D: 0.00%
• 1M: 3.33%
• YTD: 22.21%
• 6M: 23.56%
• 1Y: 43.59%
• 3Y*: 22.26%
• 5Y*: 15.55%
• 10Y*: 12.32%

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

SVR-C.TO vs. XEI.TO - 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%
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF	22.21%	25.96%	15.42%	6.69%	0.41%	35.88%	-7.53%	25.44%	-10.85%	7.24%

Correlation

The correlation between SVR-C.TO and XEI.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Apr 19, 2011	0.10

Return for Risk

SVR-C.TO vs. XEI.TO — 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: 50
SVR-C.TO Sharpe Ratio Rank: 58
SVR-C.TO Sortino Ratio Rank: 41
SVR-C.TO Omega Ratio Rank: 58
SVR-C.TO Calmar Ratio Rank: 54
SVR-C.TO Martin Ratio Rank: 37

XEI.TO

XEI.TO Risk / Return Rank: 98
XEI.TO Sharpe Ratio Rank: 98
XEI.TO Sortino Ratio Rank: 98
XEI.TO Omega Ratio Rank: 98
XEI.TO Calmar Ratio Rank: 98
XEI.TO Martin Ratio Rank: 98

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. XEI.TO - 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 S&P/TSX Composite High Dividend Index ETF (XEI.TO). 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	XEI.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.99	6.08	-4.09
Sortino ratio: Return per unit of downside risk	2.13	9.07	-6.93
Omega ratio: Gain probability vs. loss probability	1.36	2.27	-0.91
Calmar ratio: Return relative to maximum drawdown	2.72	19.53	-16.81
Martin ratio: Return relative to average drawdown	5.83	66.28	-60.45
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. XEI.TO - Sharpe Ratio Comparison

The current SVR-C.TO Sharpe Ratio is 1.99, which is lower than the XEI.TO Sharpe Ratio of 6.08. The chart below compares the historical Sharpe Ratios of SVR-C.TO and XEI.TO, 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	XEI.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	6.08	-4.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	1.39	-0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.77	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.67	-0.44

Drawdowns

SVR-C.TO vs. XEI.TO - Drawdown Comparison

The maximum SVR-C.TO drawdown since its inception was -61.14%, which is greater than XEI.TO's maximum drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for SVR-C.TO and XEI.TO.

Drawdown Indicators

	SVR-C.TO	XEI.TO	Difference
Max Drawdown Largest peak-to-trough decline	-61.14%	-45.51%	-15.63%
Max Drawdown (1Y) Largest decline over 1 year	-41.54%	-2.24%	-39.30%
Max Drawdown (3Y) Largest decline over 3 years	-41.54%	-9.92%	-31.62%
Max Drawdown (5Y) Largest decline over 5 years	-41.54%	-17.32%	-24.22%
Max Drawdown (10Y) Largest decline over 10 years	-41.54%	-45.51%	+3.97%
Current Drawdown Current decline from peak	-35.92%	-0.76%	-35.16%
Average Drawdown Average peak-to-trough decline	-35.58%	-5.05%	-30.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	0.66%	+18.64%

Volatility

SVR-C.TO vs. XEI.TO - Volatility Comparison

iShares Silver Bullion ETF (Non-Hedged) (SVR-C.TO) has a higher volatility of 16.01% compared to iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) at 2.87%. This indicates that SVR-C.TO's price experiences larger fluctuations and is considered to be riskier than XEI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVR-C.TO	XEI.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.01%	2.87%	+13.14%
Volatility (6M) Calculated over the trailing 6-month period	55.45%	6.01%	+49.44%
Volatility (1Y) Calculated over the trailing 1-year period	56.72%	7.21%	+49.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.57%	11.24%	+25.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.57%	16.01%	+17.56%

SVR-C.TO vs. XEI.TO - Expense Ratio Comparison

SVR-C.TO has a 0.66% expense ratio, which is higher than XEI.TO's 0.22% expense ratio.

Dividends

SVR-C.TO vs. XEI.TO - Dividend Comparison

SVR-C.TO has not paid dividends to shareholders, while XEI.TO's dividend yield for the trailing twelve months is around 3.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF	3.56%	4.39%	5.56%	5.08%	4.78%	3.65%	5.13%	4.71%	5.53%	4.37%	4.51%	5.75%

Frequently Asked Questions

Can I hold both SVR-C.TO and XEI.TO in my portfolio?

SVR-C.TO and XEI.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SVR-C.TO or XEI.TO?

On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SVR-C.TO or XEI.TO?

XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.66% for SVR-C.TO.

What is the main difference between SVR-C.TO and XEI.TO?

SVR-C.TO is categorized as Silver, while XEI.TO is Canada Equities. SVR-C.TO tracks LBMA Silver Price, while XEI.TO tracks S&P/TSX Composite High Dividend Index. Their fees differ too: 0.66% for SVR-C.TO and 0.22% for XEI.TO.