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UCG.MI vs. ISLN.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UCG.MI vs. ISLN.L

Last updated Jun 13, 2026

UCG.MI (UniCredit S.p.A.) is a stock, while ISLN.L (iShares Physical Silver ETC) is Silver fund tracking the LBMA Silver Price. Over the past 10 years, UCG.MI returned 33.60%/yr vs 13.90%/yr for ISLN.L. At a 0.03 correlation, their price movements are largely independent.

Performance

UCG.MI vs. ISLN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UniCredit S.p.A. (UCG.MI) and iShares Physical Silver ETC (ISLN.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

UCG.MI is traded in EUR, while ISLN.L is traded in USD. To make them comparable, the ISLN.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, UCG.MI achieves a 5.89% return, which is significantly higher than ISLN.L's -4.13% return. Over the past 10 years, UCG.MI has outperformed ISLN.L with an annualized return of 33.60%, while ISLN.L has yielded a comparatively lower 13.90% annualized return.

UCG.MI

1D
4.10%
1M
1.31%
YTD
5.89%
6M
11.29%
1Y
36.86%
3Y*
66.44%
5Y*
54.62%
10Y*
33.60%

ISLN.L

1D
5.88%
1M
-19.88%
YTD
-4.13%
6M
11.52%
1Y
86.09%
3Y*
38.14%
5Y*
20.15%
10Y*
13.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UCG.MI vs. ISLN.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UCG.MI
UniCredit S.p.A.		5.89%94.09%69.10%95.01%3.82%79.52%-41.24%34.49%-35.37%126.88%
ISLN.L
iShares Physical Silver ETC		-4.13%118.24%29.09%-3.73%9.80%-6.33%33.83%18.99%-4.48%-9.08%

Correlation

The correlation between UCG.MI and ISLN.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (10Y)
Calculated over the trailing 10-year period

0.03

Correlation (All Time)
Calculated using the full available price history since Apr 8, 2011

0.03

Over the past year, UCG.MI and ISLN.L have become more correlated (0.29) than their long-term average of 0.03, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

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UniCredit S.p.A.

iShares Physical Silver ETC

Often compared with UCG.MI:
UCG.MI vs. ISP.MIUCG.MI vs. CBK.DEUCG.MI vs. MSFTUCG.MI vs. MUFGUCG.MI vs. BPE.MIUCG.MI vs. MAUCG.MI vs. BBVA
Often compared with ISLN.L:
ISLN.L vs. SSLN.LISLN.L vs. SLVISLN.L vs. EGLN.LISLN.L vs. IGLN.LISLN.L vs. XAGUSD=XISLN.L vs. SLVR.LISLN.L vs. SVR-C.TO

Return for Risk

UCG.MI vs. ISLN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UCG.MI
UCG.MI Risk / Return Rank: 7272
Overall Rank
UCG.MI Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
UCG.MI Sortino Ratio Rank: 7373
Sortino Ratio Rank
UCG.MI Omega Ratio Rank: 6969
Omega Ratio Rank
UCG.MI Calmar Ratio Rank: 7070
Calmar Ratio Rank
UCG.MI Martin Ratio Rank: 7373
Martin Ratio Rank
ISLN.L
ISLN.L Risk / Return Rank: 4444
Overall Rank
ISLN.L Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
ISLN.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
ISLN.L Omega Ratio Rank: 5252
Omega Ratio Rank
ISLN.L Calmar Ratio Rank: 4444
Calmar Ratio Rank
ISLN.L Martin Ratio Rank: 3333
Martin Ratio Rank
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.

UCG.MI vs. ISLN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UniCredit S.p.A. (UCG.MI) and iShares Physical Silver ETC (ISLN.L). 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.

UCG.MIISLN.LDifference
Sharpe ratioReturn per unit of total volatility
1.12
1.52

-0.40

Sortino ratioReturn per unit of downside risk
1.76
1.99

-0.23

Omega ratioGain probability vs. loss probability

1.20

1.29

-0.09

Calmar ratioReturn relative to maximum drawdown

1.44

2.05

-0.60

Martin ratioReturn relative to average drawdown

4.03

4.60

-0.57

UCG.MI vs. ISLN.L - Sharpe Ratio Comparison

The current UCG.MI Sharpe Ratio is 1.12, which is comparable to the ISLN.L Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of UCG.MI and ISLN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

UCG.MI vs. ISLN.L - Drawdown Comparison

The maximum UCG.MI drawdown since its inception was -93.56%, which is greater than ISLN.L's maximum drawdown of -68.32%. Use the drawdown chart below to compare losses from any high point for UCG.MI and ISLN.L.

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Drawdown Indicators

UCG.MIISLN.LDifference

Max Drawdown

Largest peak-to-trough decline

-93.56%

-68.32%

-25.24%

Max Drawdown (1Y)

Largest decline over 1 year

-24.17%

-42.05%

+17.88%

Max Drawdown (3Y)

Largest decline over 3 years

-24.17%

-42.05%

+17.88%

Max Drawdown (5Y)

Largest decline over 5 years

-46.40%

-42.05%

-4.35%

Max Drawdown (10Y)

Largest decline over 10 years

-65.16%

-42.05%

-23.11%

Current Drawdown

Current decline from peak

-4.50%

-38.64%

+34.14%

Average Drawdown

Average peak-to-trough decline

-65.98%

-42.65%

-23.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.66%

18.75%

-10.09%

Volatility

UCG.MI vs. ISLN.L - Volatility Comparison

The current volatility for UniCredit S.p.A. (UCG.MI) is 8.15%, while iShares Physical Silver ETC (ISLN.L) has a volatility of 15.17%. This indicates that UCG.MI experiences smaller price fluctuations and is considered to be less risky than ISLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UCG.MIISLN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.15%

15.17%

-7.02%

Volatility (6M)

Calculated over the trailing 6-month period

24.82%

53.64%

-28.82%

Volatility (1Y)

Calculated over the trailing 1-year period

31.19%

56.54%

-25.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.81%

34.50%

+1.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

48.06%

29.99%

+18.07%

Dividends

UCG.MI vs. ISLN.L - Dividend Comparison

UCG.MI's dividend yield for the trailing twelve months is around 4.30%, while ISLN.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
ISLN.L
iShares Physical Silver ETC		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
UCG.MI
UniCredit S.p.A.		4.30%4.10%7.08%4.02%4.05%0.89%0.00%2.07%3.24%0.00%0.88%0.47%

Frequently Asked Questions

UCG.MI and ISLN.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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