XSLE.DE vs. MNS.TO
XSLE.DE (Xtrackers IE Physical Silver (EUR Hedged) ETC Securities) and MNS.TO (Royal Canadian Mint - Canadian Silver Reserves) are both Silver funds - XSLE.DE tracks the LBMA Silver Price (EUR Hedged) while MNS.TO tracks the N/A (Physical Bullion). Both are passively managed. Over the past 5 years, XSLE.DE returned 12.87%/yr vs 17.83%/yr for MNS.TO. A 0.62 correlation means they provide meaningful diversification when combined. XSLE.DE charges 0.73%/yr vs 0.45%/yr for MNS.TO.
Performance
XSLE.DE vs. MNS.TO - Performance Comparison
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Different Trading Currencies
XSLE.DE is traded in EUR, while MNS.TO is traded in CAD. To make them comparable, the MNS.TO values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, XSLE.DE achieves a -26.25% return, which is significantly lower than MNS.TO's -23.54% return.
XSLE.DE
- 1D
- 0.00%
- 1M
- -24.10%
- YTD
- -26.25%
- 6M
- -26.25%
- 1Y
- 53.24%
- 3Y*
- 31.27%
- 5Y*
- 12.87%
- 10Y*
- —
MNS.TO
- 1D
- 2.95%
- 1M
- -19.18%
- YTD
- -23.54%
- 6M
- -27.10%
- 1Y
- 64.34%
- 3Y*
- 36.95%
- 5Y*
- 17.83%
- 10Y*
- —
XSLE.DE vs. MNS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XSLE.DE Xtrackers IE Physical Silver (EUR Hedged) ETC Securities | -26.25% | 149.28% | 20.14% | -4.86% | 0.29% | -15.30% | 66.03% |
MNS.TO Royal Canadian Mint - Canadian Silver Reserves | -23.54% | 141.14% | 39.29% | -6.44% | 5.13% | -9.09% | 47.69% |
Correlation
The correlation between XSLE.DE and MNS.TO 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 | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since May 14, 2020 | 0.62 |
The correlation between XSLE.DE and MNS.TO has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.
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Return for Risk
XSLE.DE vs. MNS.TO — Risk / Return Rank
XSLE.DE
MNS.TO
XSLE.DE vs. MNS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE) and Royal Canadian Mint - Canadian Silver Reserves (MNS.TO). 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.
| XSLE.DE | MNS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 1.38 | -0.33 |
| Martin ratioReturn relative to average drawdown | 2.34 | 3.25 | -0.90 |
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Drawdowns
XSLE.DE vs. MNS.TO - Drawdown Comparison
The maximum XSLE.DE drawdown since its inception was -50.39%, which is greater than MNS.TO's maximum drawdown of -46.95%. Use the drawdown chart below to compare losses from any high point for XSLE.DE and MNS.TO.
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Drawdown Indicators
| XSLE.DE | MNS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.39% | -46.95% | -3.44% |
Max Drawdown (1Y)Largest decline over 1 year | -50.39% | -46.95% | -3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -50.39% | -46.95% | -3.44% |
Max Drawdown (5Y)Largest decline over 5 years | -50.39% | -46.95% | -3.44% |
Current DrawdownCurrent decline from peak | -50.39% | -42.80% | -7.59% |
Average DrawdownAverage peak-to-trough decline | -18.56% | -16.18% | -2.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.66% | 19.89% | +2.77% |
Volatility
XSLE.DE vs. MNS.TO - Volatility Comparison
Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE) has a higher volatility of 15.37% compared to Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) at 13.97%. This indicates that XSLE.DE's price experiences larger fluctuations and is considered to be riskier than MNS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSLE.DE | MNS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.37% | 13.97% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 55.02% | 51.25% | +3.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.27% | 54.81% | +3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.72% | 34.30% | +1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.55% | 31.15% | +4.40% |
XSLE.DE vs. MNS.TO - Expense Ratio Comparison
XSLE.DE has a 0.73% expense ratio, which is higher than MNS.TO's 0.45% expense ratio.
Dividends
XSLE.DE vs. MNS.TO - Dividend Comparison
Neither XSLE.DE nor MNS.TO has paid dividends to shareholders.
Frequently Asked Questions
XSLE.DE and MNS.TO 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.
On fees, MNS.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MNS.TO is cheaper with a 0.45% expense ratio, compared with 0.73% for XSLE.DE.
XSLE.DE tracks LBMA Silver Price (EUR Hedged), while MNS.TO tracks N/A (Physical Bullion). They also come from different issuers: Xtrackers and Royal Canadian Mint. Their fees differ too: 0.73% for XSLE.DE and 0.45% for MNS.TO.
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