USLN vs. SLV

Last updated Jun 4, 2026

USLN (iShares Broad USD Floating Rate Loan ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - USLN is a Bank Loan fund tracking the Morningstar LSTA US Leveraged Loan Broad Select Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. At a 0.25 correlation, their price movements are largely independent. USLN charges 0.43%/yr vs 0.50%/yr for SLV.

Performance

USLN vs. SLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Broad USD Floating Rate Loan ETF (USLN) and iShares Silver Trust (SLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USLN

• 1D: -0.03%
• 1M: 0.53%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SLV

• 1D: -2.62%
• 1M: 0.41%
• YTD: 2.78%
• 6M: 24.76%
• 1Y: 110.59%
• 3Y*: 45.06%
• 5Y*: 20.76%
• 10Y*: 15.55%

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

USLN vs. SLV - Yearly Performance Comparison

	2026 (YTD)
USLN iShares Broad USD Floating Rate Loan ETF	1.87%
SLV iShares Silver Trust	-12.12%

Correlation

The correlation between USLN and SLV is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 5, 2026	0.25

Return for Risk

USLN vs. SLV — Risk / Return Rank

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

SLV

SLV Risk / Return Rank: 47
SLV Sharpe Ratio Rank: 54
SLV Sortino Ratio Rank: 40
SLV Omega Ratio Rank: 56
SLV Calmar Ratio Rank: 52
SLV Martin Ratio Rank: 36

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.

USLN vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD Floating Rate Loan ETF (USLN) 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.

Sharpe Ratios by Period

	USLN	SLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.89	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.99	0.25	+2.75

Drawdowns

USLN vs. SLV - Drawdown Comparison

The maximum USLN drawdown since its inception was -0.75%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for USLN and SLV.

Drawdown Indicators

	USLN	SLV	Difference
Max Drawdown Largest peak-to-trough decline	-0.75%	-76.28%	+75.53%
Max Drawdown (1Y) Largest decline over 1 year	—	-42.45%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-42.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-42.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.81%	—
Current Drawdown Current decline from peak	-0.06%	-37.30%	+37.24%
Average Drawdown Average peak-to-trough decline	-0.22%	-44.67%	+44.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	19.67%	—

Volatility

Volatility by Period

	USLN	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	58.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.60%	58.90%	-56.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.60%	36.15%	-33.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.60%	31.84%	-29.24%

USLN vs. SLV - Expense Ratio Comparison

USLN has a 0.43% expense ratio, which is lower than SLV's 0.50% expense ratio.

Dividends

USLN vs. SLV - Dividend Comparison

USLN's dividend yield for the trailing twelve months is around 1.54%, while SLV has not paid dividends to shareholders.

Position	TTM
SLV iShares Silver Trust	0.00%
USLN iShares Broad USD Floating Rate Loan ETF	1.54%

Frequently Asked Questions

Can I hold both USLN and SLV in my portfolio?

USLN and SLV have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USLN or SLV?

On fees, USLN is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USLN or SLV?

USLN is cheaper with a 0.43% expense ratio, compared with 0.50% for SLV.

Which ETF pays a higher dividend yield, USLN or SLV?

USLN has the higher dividend yield at 1.54%, compared with 0.00% for SLV.

What is the main difference between USLN and SLV?

USLN is categorized as Bank Loan, while SLV is Silver. USLN tracks Morningstar LSTA US Leveraged Loan Broad Select Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.43% for USLN and 0.50% for SLV.