SVR.TO vs. SIL

Last updated Jun 4, 2026

SVR.TO (iShares Silver Bullion ETF) and SIL (Global X Silver Miners ETF) are both Silver funds - SVR.TO tracks the LBMA Silver Price while SIL tracks the Solactive Global Silver Miners Total Return Index. Both are passively managed. Over the past 10 years, SVR.TO returned 13.89%/yr vs 11.49%/yr for SIL. A 0.68 correlation means they provide meaningful diversification when combined. SVR.TO charges 0.66%/yr vs 0.65%/yr for SIL.

Performance

SVR.TO vs. SIL - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Silver Bullion ETF (SVR.TO) and Global X Silver Miners ETF (SIL). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SVR.TO is traded in CAD, while SIL is traded in USD. To make them comparable, the SIL values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SVR.TO achieves a 1.77% return, which is significantly lower than SIL's 6.09% return. Over the past 10 years, SVR.TO has outperformed SIL with an annualized return of 13.89%, while SIL has yielded a comparatively lower 11.49% annualized return.

SVR.TO

• 1D: -2.67%
• 1M: 0.39%
• YTD: 1.77%
• 6M: 23.49%
• 1Y: 103.85%
• 3Y*: 42.79%
• 5Y*: 19.02%
• 10Y*: 13.89%

SIL

• 1D: -4.57%
• 1M: 2.69%
• YTD: 6.09%
• 6M: 15.21%
• 1Y: 93.70%
• 3Y*: 50.88%
• 5Y*: 17.22%
• 10Y*: 11.49%

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

SVR.TO vs. SIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SVR.TO iShares Silver Bullion ETF	1.77%	140.56%	18.71%	-0.94%	0.09%	-13.03%	42.96%	12.77%	-9.50%	4.40%
SIL Global X Silver Miners ETF	6.09%	153.95%	24.47%	-0.92%	-17.33%	-19.09%	37.93%	28.15%	-15.84%	-4.80%

Correlation

The correlation between SVR.TO and SIL is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 21, 2010	0.68

The correlation between SVR.TO and SIL has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.

Return for Risk

SVR.TO vs. SIL — Risk / Return Rank

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

SVR.TO

SVR.TO Risk / Return Rank: 45
SVR.TO Sharpe Ratio Rank: 52
SVR.TO Sortino Ratio Rank: 39
SVR.TO Omega Ratio Rank: 54
SVR.TO Calmar Ratio Rank: 49
SVR.TO Martin Ratio Rank: 34

SIL

SIL Risk / Return Rank: 48
SIL Sharpe Ratio Rank: 52
SIL Sortino Ratio Rank: 43
SIL Omega Ratio Rank: 46
SIL Calmar Ratio Rank: 55
SIL Martin Ratio Rank: 43

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.TO vs. SIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Silver Bullion ETF (SVR.TO) and Global X Silver Miners ETF (SIL). 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.TO	SIL	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.93	-0.12
Sortino ratio: Return per unit of downside risk	2.04	2.26	-0.22
Omega ratio: Gain probability vs. loss probability	1.34	1.31	+0.03
Calmar ratio: Return relative to maximum drawdown	2.45	2.90	-0.45
Martin ratio: Return relative to average drawdown	5.25	7.50	-2.25
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.TO vs. SIL - Sharpe Ratio Comparison

The current SVR.TO Sharpe Ratio is 1.81, which is comparable to the SIL Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of SVR.TO and SIL, 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.TO	SIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	1.93	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.47	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.31	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.20	+0.06

Drawdowns

SVR.TO vs. SIL - Drawdown Comparison

The maximum SVR.TO drawdown since its inception was -77.85%, roughly equal to the maximum SIL drawdown of -74.25%. Use the drawdown chart below to compare losses from any high point for SVR.TO and SIL.

Drawdown Indicators

	SVR.TO	SIL	Difference
Max Drawdown Largest peak-to-trough decline	-77.85%	-74.25%	-3.60%
Max Drawdown (1Y) Largest decline over 1 year	-42.63%	-32.51%	-10.12%
Max Drawdown (3Y) Largest decline over 3 years	-42.63%	-32.51%	-10.12%
Max Drawdown (5Y) Largest decline over 5 years	-42.63%	-49.21%	+6.58%
Max Drawdown (10Y) Largest decline over 10 years	-45.52%	-60.49%	+14.97%
Current Drawdown Current decline from peak	-37.64%	-24.47%	-13.17%
Average Drawdown Average peak-to-trough decline	-50.35%	-40.76%	-9.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.85%	12.54%	+7.31%

Volatility

SVR.TO vs. SIL - Volatility Comparison

The current volatility for iShares Silver Bullion ETF (SVR.TO) is 16.51%, while Global X Silver Miners ETF (SIL) has a volatility of 17.44%. This indicates that SVR.TO experiences smaller price fluctuations and is considered to be less risky than SIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVR.TO	SIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.51%	17.44%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	56.28%	40.38%	+15.90%
Volatility (1Y) Calculated over the trailing 1-year period	57.68%	48.74%	+8.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.45%	36.60%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.51%	37.42%	-4.91%

SVR.TO vs. SIL - Expense Ratio Comparison

SVR.TO has a 0.66% expense ratio, which is higher than SIL's 0.65% expense ratio.

Dividends

SVR.TO vs. SIL - Dividend Comparison

SVR.TO has not paid dividends to shareholders, while SIL's dividend yield for the trailing twelve months is around 1.13%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIL Global X Silver Miners ETF	1.13%	1.18%	2.40%	0.59%	0.48%	1.59%	1.92%	1.53%	1.21%	0.02%	3.34%	0.38%
SVR.TO iShares Silver Bullion ETF	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

Can I hold both SVR.TO and SIL in my portfolio?

SVR.TO and SIL have a correlation of 0.72, 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.TO or SIL?

On fees, SIL is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SVR.TO or SIL?

SIL is cheaper with a 0.65% expense ratio, compared with 0.66% for SVR.TO.

What is the main difference between SVR.TO and SIL?

SVR.TO tracks LBMA Silver Price, while SIL tracks Solactive Global Silver Miners Total Return Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.66% for SVR.TO and 0.65% for SIL.