XAGUSD=X vs. XAUUSD=X

Last updated Apr 2, 2026

Compare and contrast key facts about Silver Spot Price US Dollar (XAGUSD=X) and Gold Spot Price US Dollar (XAUUSD=X).

Performance

XAGUSD=X vs. XAUUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Silver Spot Price US Dollar (XAGUSD=X) and Gold Spot Price US Dollar (XAUUSD=X). The values are adjusted to include any dividend payments, if applicable.

XAGUSD=X vs. XAUUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XAGUSD=X Silver Spot Price US Dollar	1.68%	148.50%	21.59%	-0.79%	2.85%	-11.48%	47.14%	15.71%	-8.76%	6.61%
XAUUSD=X Gold Spot Price US Dollar	8.19%	64.75%	27.24%	13.14%	-0.25%	-3.50%	24.55%	18.77%	-1.71%	13.14%

Returns By Period

In the year-to-date period, XAGUSD=X achieves a 1.68% return, which is significantly lower than XAUUSD=X's 8.19% return. Over the past 10 years, XAGUSD=X has outperformed XAUUSD=X with an annualized return of 17.11%, while XAUUSD=X has yielded a comparatively lower 14.43% annualized return.

XAGUSD=X

• 1D: -2.72%
• 1M: -18.19%
• YTD: 1.68%
• 6M: 54.19%
• 1Y: 116.51%
• 3Y*: 44.69%
• 5Y*: 24.27%
• 10Y*: 17.11%

XAUUSD=X

• 1D: -1.71%
• 1M: -8.10%
• YTD: 8.19%
• 6M: 21.27%
• 1Y: 49.22%
• 3Y*: 33.08%
• 5Y*: 21.93%
• 10Y*: 14.43%

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

Return for Risk

XAGUSD=X vs. XAUUSD=X — Risk / Return Rank

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

XAGUSD=X

XAGUSD=X Risk / Return Rank: 90
XAGUSD=X Sharpe Ratio Rank: 94
XAGUSD=X Sortino Ratio Rank: 88
XAGUSD=X Omega Ratio Rank: 96
XAGUSD=X Calmar Ratio Rank: 88
XAGUSD=X Martin Ratio Rank: 86

XAUUSD=X

XAUUSD=X Risk / Return Rank: 89
XAUUSD=X Sharpe Ratio Rank: 93
XAUUSD=X Sortino Ratio Rank: 91
XAUUSD=X Omega Ratio Rank: 91
XAUUSD=X Calmar Ratio Rank: 84
XAUUSD=X Martin Ratio Rank: 87

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.

XAGUSD=X vs. XAUUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Silver Spot Price US Dollar (XAGUSD=X) and Gold Spot Price US Dollar (XAUUSD=X). 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.

	XAGUSD=X	XAUUSD=X	Difference
Sharpe ratio Return per unit of total volatility	1.66	1.61	+0.05
Sortino ratio Return per unit of downside risk	1.92	2.08	-0.16
Omega ratio Gain probability vs. loss probability	1.36	1.31	+0.05
Calmar ratio Return relative to maximum drawdown	2.29	1.93	+0.36
Martin ratio Return relative to average drawdown	6.65	6.72	-0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XAGUSD=X vs. XAUUSD=X - Sharpe Ratio Comparison

The current XAGUSD=X Sharpe Ratio is 1.66, which is comparable to the XAUUSD=X Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of XAGUSD=X and XAUUSD=X, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XAGUSD=X	XAUUSD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.61	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	1.20	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.90	-0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.59	-0.32

Correlation

The correlation between XAGUSD=X and XAUUSD=X is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

XAGUSD=X vs. XAUUSD=X - Drawdown Comparison

The maximum XAGUSD=X drawdown since its inception was -75.36%, which is greater than XAUUSD=X's maximum drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for XAGUSD=X and XAUUSD=X.

Drawdown Indicators

	XAGUSD=X	XAUUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-75.36%	-44.69%	-30.67%
Max Drawdown (1Y) Largest decline over 1 year	-44.14%	-19.70%	-24.44%
Max Drawdown (5Y) Largest decline over 5 years	-44.14%	-20.81%	-23.33%
Max Drawdown (10Y) Largest decline over 10 years	-44.14%	-21.35%	-22.79%
Current Drawdown Current decline from peak	-37.44%	-13.69%	-23.75%
Average Drawdown Average peak-to-trough decline	-44.41%	-16.32%	-28.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.22%	5.67%	+9.55%

Volatility

XAGUSD=X vs. XAUUSD=X - Volatility Comparison

Silver Spot Price US Dollar (XAGUSD=X) has a higher volatility of 17.12% compared to Gold Spot Price US Dollar (XAUUSD=X) at 9.69%. This indicates that XAGUSD=X's price experiences larger fluctuations and is considered to be riskier than XAUUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XAGUSD=X	XAUUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.12%	9.69%	+7.43%
Volatility (6M) Calculated over the trailing 6-month period	56.72%	21.25%	+35.47%
Volatility (1Y) Calculated over the trailing 1-year period	52.10%	23.73%	+28.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.89%	16.36%	+17.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.60%	15.04%	+15.56%