SLV — iShares Silver Trust

SLV Price Performance — Growth of $10,000

Value of a $10,000 investment in SLV over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

SLV Drawdown

The "underwater" chart: SLV's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

iShares Silver Trust (SLV) is a commodity-focused ETF, tracking the performance of the silver market. Issued by iShares, it is one of 22 ETFs in its category, indicating a competitive but not dominant position. The fund holds an overall rank of #175 out of 458 tracked ETFs, suggesting it is neither the top performer nor the least popular. With an expense ratio of 0.5%, it is relatively cost-effective, and its dividend yield of 0.00% implies that investors should not expect significant income from this fund. Despite its high price of $62.72, the fund's assets under management (AUM) of $28.1B suggest substantial investor adoption, reflecting confidence in the silver market and the fund's performance.

The performance of iShares Silver Trust (SLV) shows a mix of short-term and long-term trends. Over the past year, the fund has seen a strong gain of +82.17%, while over the past three years, it has delivered an even more impressive return of +182.27%. However, the 1-month return of +20.48% and the 1-week return of +7.25% indicate a volatile short-term performance, with the 1-day return of +1.72% suggesting a continuation of this trend. The 3-month and 6-month returns of -9.69% and -18.14%, respectively, show a deceleration in the upward trend, while the year-to-date return of -4.61% reflects a slight pullback from the peak. These figures suggest that while the fund has been a strong performer over the long term, it has experienced significant volatility in the short term.

iShares Silver Trust (SLV) is categorized as having a very high volatility label, which is reflected in its beta of 1.11, indicating that it is more volatile than the market. The Sharpe ratio of 1.25 suggests that the fund provides a good risk-adjusted return, meaning that the excess return per unit of deviation in the return is relatively high. However, the maximum drawdown of -52.28% highlights the potential for significant losses during market downturns. This combination of high volatility, a relatively high Sharpe ratio, and a substantial drawdown implies that the fund is suitable for investors who are willing to accept higher risk for the potential of higher returns, especially in a market environment where silver prices are expected to be volatile. In up markets, the fund is likely to outperform the broader market, but in down markets, it could experience larger losses compared to more stable investments.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.69% (as of 2026-08-20) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 16.01 (as of 2026-08-20) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-07-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

See it in a portfolio

SLV isn't one of the twelve funds in the portfolio game, but GLD — Gold — sits in the same category and is. It is an equivalent, not a substitute: different holdings, different fee, different returns.

Free, no sign-up, virtual money only.

SLV Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.16% and average daily volume is 18.2M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $28.1B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: SLV is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

SLV Performance History

How SLV Compares to Other Commodities ETFs