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

The iShares Silver Trust (SLV) operates within the Commodities category, where ETFValuer tracks a total of 22 funds. Issued by iShares, this exchange-traded fund holds an overall rank of #204 out of 458 tracked ETFs across all categories and carries an ETFValuer grade of C with a score of 62.2 out of 100. The fund charges an expense ratio of 0.5% and offers a dividend yield of 0.00%. With assets under management totaling $28.2 billion and a share price of $51.70, the trust represents a significant presence in the commodities sector. This substantial asset base suggests considerable investor adoption relative to the broader universe of 458 tracked funds. The combination of a mid-tier rank and a C grade indicates a moderate standing among its peers despite its large scale.

Recent price action shows a decline over the short term, with returns of -2.32% over one day, -2.60% over one week, and -2.97% over one month. This downward momentum extends to the year-to-date period, which stands at -21.37%, and the six-month horizon has seen a sharper drop of -47.43%. However, the three-month return of -24.34% suggests a slight deceleration in the rate of decline compared to the six-month figure. In contrast to these recent losses, the fund has delivered strong long-term gains, posting a one-year return of +49.16%. The three-year performance is particularly robust, with a cumulative return of +137.70% recorded over that period. This pattern highlights a significant divergence between recent short-term underperformance and substantial multi-year appreciation.

The fund is assigned a Very High volatility label, which aligns with a beta of 1.26 indicating that the asset moves more aggressively than the broader market. A Sharpe ratio of 0.72 suggests that the returns generated have been sufficient to justify the risk taken over the measured period. Despite these positive risk-adjusted metrics, the fund has experienced a maximum drawdown of -52.28%, reflecting severe potential losses during downturns. This combination of high beta and extreme drawdown implies that the fund is prone to significant price swings in both directions. Investors may face substantial capital erosion during market stress, even as the fund captures outsized gains during upswings. The data points to a profile characterized by high sensitivity to market movements and considerable downside risk.

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

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — 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): 18.67 (as of 2026-07-27) — 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 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

SLV Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 20.4M/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 $28.2B 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