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USD=X vs. SLV
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. SLV

Last updated Jun 9, 2026

USD=X (USD Cash) is a currency, while SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price. Over the past 10 years, USD=X returned 0.00%/yr vs 14.08%/yr for SLV.

Performance

USD=X vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

SLV

1D
0.02%
1M
-15.66%
YTD
-4.41%
6M
16.83%
1Y
88.38%
3Y*
40.36%
5Y*
19.02%
10Y*
14.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. SLV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SLV
iShares Silver Trust		-4.41%144.66%20.89%-1.09%2.37%-12.45%47.30%14.88%-9.19%5.82%

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USD Cash

iShares Silver Trust

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with SLV:
SLV vs. GLDSLV vs. SIVRSLV vs. PSLVSLV vs. SILSLV vs. SILJSLV vs. SLVPSLV vs. AGQ

Return for Risk

USD=X vs. SLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USD=X
SLV
SLV Risk / Return Rank: 4343
Overall Rank
SLV Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SLV Sortino Ratio Rank: 3838
Sortino Ratio Rank
SLV Omega Ratio Rank: 5454
Omega Ratio Rank
SLV Calmar Ratio Rank: 4747
Calmar Ratio Rank
SLV Martin Ratio Rank: 3232
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.

USD=X vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) and iShares Silver Trust (SLV). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USD=X vs. SLV - Sharpe Ratio Comparison

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Sharpe Ratios by Period

USD=XSLVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.50

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.53

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.44

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

0.23

—

Drawdowns

USD=X vs. SLV - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for USD=X and SLV.

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Drawdown Indicators

USD=XSLVDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-76.28%

+76.28%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-42.45%

+42.45%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-42.45%

+42.45%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-42.45%

+42.45%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-42.81%

+42.81%

Current Drawdown

Current decline from peak

0.00%

-41.69%

+41.69%

Average Drawdown

Average peak-to-trough decline

0.00%

-44.67%

+44.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

20.15%

-20.15%

Volatility

USD=X vs. SLV - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while iShares Silver Trust (SLV) has a volatility of 16.89%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USD=XSLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

16.89%

-16.89%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

58.88%

-58.88%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

59.53%

-59.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

36.33%

-36.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

31.92%

-31.92%

Frequently Asked Questions

SLV has higher volatility (16.89%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs SLV's -76.28%.

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