Data Source: from August 1982 to February 2023 (~41 years)
Consolidated Returns as of 28 February 2023
Category: Commodities
ETF: iShares Silver Trust (SLV)

In the last 30 Years, the iShares Silver Trust (SLV) ETF obtained a 5.76% compound annual return, with a 29.15% standard deviation.

The ETF is related to the following investment themes:

  • Asset Class: Commodity
  • Commodity: Silver

Historical Returns as of Feb 28, 2023

Historical returns and Metrics of iShares Silver Trust (SLV) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes

ETF Returns, up to December 2006, are retrieved using the historical series of equivalent ETFs / Assets.
ISHARES SILVER TRUST (SLV) ETF
Portfolio Metrics
Data Source: 1 August 1982 - 28 February 2023 (~41 years)
Swipe left to see all data
Metrics as of Feb 28, 2023
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~41Y)
Portfolio
Return (%)
-11.96 -5.92 15.92 -15.03 7.36 4.45 -3.53 7.43 5.76 2.69
US Inflation (%) 0.56 1.05 1.58 6.04 5.16 3.86 2.63 2.51 2.51 2.82
Infl. Adjusted
Return (%)
-12.44 -6.90 14.12 -19.87 2.09 0.57 -6.00 4.79 3.17 -0.12
Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 27.21 35.69 29.84 27.39 31.83 29.15 28.65
Sharpe Ratio -0.63 0.19 0.11 -0.15 0.20 0.12 -0.05
Sortino Ratio -0.95 0.30 0.18 -0.25 0.29 0.18 -0.07
MAXIMUM DRAWDOWN
Drawdown Depth (%) -27.53 -36.79 -36.79 -52.61 -72.16 -72.16 -74.09
Start (yyyy mm) 2022 04 2020 09 2020 09 2013 03 2011 05 2011 05 1983 02
Bottom (yyyy mm) 2022 08 2022 08 2022 08 2020 03 2020 03 2020 03 1993 02
Start to Bottom (# months) 5 24 24 85 107 107 121
Start to Recovery (# months) in progress
> 11
> 30
> 30
> 120
> 142
> 142
286
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 156.74 51.69 33.79 26.90 13.10 6.50
Worst Return (%) -42.02 -27.19 -18.38 -12.44 -5.35 1.53
% Positive Periods 45% 55% 54% 65% 89% 100%
MONTHS
Positive 0 1 4 6 19 29 54 125 182 235
Negative 1 2 2 6 17 31 66 115 178 252
% Positive 0% 33% 67% 50% 53% 48% 45% 52% 51% 48%
WITHDRAWAL RATES (WR)
Safe WR (%) 45.28 23.30 5.75 12.80 6.35 1.69
Perpetual WR (%) 2.05 0.57 0.00 4.57 3.08 0.00
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the ETF
  • Standard Deviation: it's a measure of the dispersion of returns around the mean
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the ETF. It's calculated by dividing the excess return of the ETF over the risk-free rate by the ETF standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the ETF. It's a modification of the Sharpe Ratio (same formula but the denominator is the ETF downside standard deviation).
  • Maximum Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.
  • Rolling Returns: returns over a time frame (best, worst, % of positive returns).
  • Pos./Neg. Months: number of months with positive/negative return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the original portfolio balance that can be withdrawn at the end of each year with inflation adjustment, without the portfolio running out of money (dollar amount withdrawal).
  • Perpetual Withdrawal Rate (PWR): it's the percentage of portfolio balance that can be withdrawn at the end of each year, while retaining the inflation adjusted portfolio balance (percentage withdrawal).

Correlations as of Feb 28, 2023

Monthly correlations of iShares Silver Trust (SLV) ETF vs the main Asset Classes, over different timeframes.

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1.

If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.

Asset correlations are calculated based on monthly returns.

Columns are sortable (click on table header to sort).

ISHARES SILVER TRUST (SLV) ETF
Monthly correlations as of 28 February 2023
Swipe left to see all data
Correlation vs SLV
 
Asset Class 1 Year 5 Years 10 Years 30 Years Since
Jan 1992
US Total Stock Market
VTI
0.29
0.36
0.25
0.23
0.23
US Large Cap
SPY
0.31
0.35
0.25
0.22
0.22
US Small Cap
IJR
0.18
0.29
0.19
0.20
0.20
US REITs
VNQ
0.33
0.31
0.26
0.22
0.22
US Technology
QQQ
0.24
0.34
0.23
0.14
0.14
Preferred Stocks
PFF
0.33
0.40
0.32
0.16
0.15
EAFE Stocks
EFA
0.53
0.39
0.29
0.31
0.30
World All Countries
VT
0.39
0.40
0.31
0.31
0.31
Emerging Markets
EEM
0.48
0.45
0.39
0.37
0.36
Europe
VGK
0.50
0.40
0.29
0.28
0.28
Pacific
VPL
0.53
0.37
0.29
0.30
0.29
Latin America
FLLA
0.21
0.35
0.34
0.37
0.37
US Total Bond Market
BND
0.46
0.33
0.33
0.13
0.13
Long Term Treasuries
TLT
0.43
0.14
0.20
-0.02
-0.02
US Cash
BIL
0.34
-0.07
0.02
-0.01
-0.01
TIPS
TIP
0.25
0.36
0.38
0.20
0.19
Invest. Grade Bonds
LQD
0.51
0.40
0.39
0.21
0.20
High Yield Bonds
HYG
0.42
0.45
0.40
0.24
0.24
International Bonds
BNDX
0.39
0.28
0.26
0.14
0.13
Emerg. Market Bonds
EMB
0.57
0.53
0.46
0.29
0.29
Gold
GLD
0.74
0.72
0.76
0.73
0.72
Commodities
DBC
0.05
0.33
0.35
0.33
0.33

Capital Growth as of Feb 28, 2023

An investment of 1000$, since March 1993, now would be worth 5366.50$, with a total return of 436.65% (5.76% annualized).

The Inflation Adjusted Capital now would be 2552.67$, with a net total return of 155.27% (3.17% annualized).
An investment of 1000$, since August 1982, now would be worth 2938.14$, with a total return of 193.81% (2.69% annualized).

The Inflation Adjusted Capital now would be 952.23$, with a net total return of -4.78% (-0.12% annualized).

Drawdowns

Worst drawdowns since March 1993.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-72.16% May 2011 Mar 2020 107 in progress 35 142
-51.29% Mar 2008 Oct 2008 8 Sep 2010 23 31
-36.04% Apr 1998 Nov 2001 44 Feb 2004 27 71
-26.39% Apr 2004 Jun 2004 3 Nov 2005 17 20
-24.77% Aug 1993 Sep 1993 2 Mar 1994 6 8
-22.20% Apr 1994 Jul 1997 40 Dec 1997 5 45
-19.75% May 2006 Jun 2006 2 Nov 2006 5 7
-15.06% Mar 2007 Aug 2007 6 Oct 2007 2 8
-9.24% Jan 2011 Jan 2011 1 Feb 2011 1 2
-7.66% Dec 2006 Dec 2006 1 Feb 2007 2 3
-3.20% Nov 2007 Nov 2007 1 Dec 2007 1 2
-1.51% Jun 1993 Jun 1993 1 Jul 1993 1 2
-0.51% Feb 2006 Feb 2006 1 Mar 2006 1 2

Worst drawdowns since August 1982.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-74.09% Feb 1983 Feb 1993 121 Nov 2006 165 286
-72.16% May 2011 Mar 2020 107 in progress 35 142
-51.29% Mar 2008 Oct 2008 8 Sep 2010 23 31
-15.06% Mar 2007 Aug 2007 6 Oct 2007 2 8
-9.24% Jan 2011 Jan 2011 1 Feb 2011 1 2
-7.66% Dec 2006 Dec 2006 1 Feb 2007 2 3
-3.20% Nov 2007 Nov 2007 1 Dec 2007 1 2
-0.10% Nov 1982 Nov 1982 1 Dec 1982 1 2

Rolling Returns ( more details)

iShares Silver Trust (SLV) ETF: annualized rolling and average returns

Swipe left to see all data
Rolling
Period
Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
4.92 156.74
May 2010 - Apr 2011
-42.02
Aug 1983 - Jul 1984
55.04%
2 Years
3.63 95.95
May 2009 - Apr 2011
-32.43
Jun 1983 - May 1985
46.55%
3 Years
3.40 51.69
Nov 2008 - Oct 2011
-27.19
Jun 1983 - May 1986
44.69%
5 Years
3.15 33.79
Mar 2003 - Feb 2008
-18.38
May 2011 - Apr 2016
46.03%
7 Years
3.22 34.06
May 2004 - Apr 2011
-14.72
May 2011 - Apr 2018
43.56%
10 Years
3.76 26.90
May 2001 - Apr 2011
-12.44
Feb 1983 - Jan 1993
34.78%
15 Years
4.90 15.62
May 1996 - Apr 2011
-6.32
Jun 1983 - May 1998
25.65%
20 Years
5.21 13.10
May 1991 - Apr 2011
-5.35
Jun 1983 - May 2003
10.89%
30 Years
3.79 6.50
Mar 1991 - Feb 2021
1.53
Aug 1983 - Jul 2013
0.00%
(*) Annualized rolling and average returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the iShares Silver Trust (SLV) ETF: Rolling Returns page.

Seasonality

iShares Silver Trust (SLV) ETF: in which months is it better to invest?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.

For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.41
60%
-3.00
20%
-5.23
20%
0.71
40%
3.84
60%
-1.49
40%
6.72
60%
0.87
40%
-5.17
40%
2.78
80%
0.09
20%
8.08
100%
 Capital Growth on monthly avg returns
100
100.41
97.40
92.30
92.95
96.53
95.09
101.48
102.36
97.07
99.77
99.85
107.93
Best 3.7
2019
8.8
2022
1.1
2022
7.1
2020
19.2
2020
5.0
2019
33.2
2020
15.8
2020
5.5
2022
7.7
2021
15.9
2022
16.7
2020
Worst -3.3
2022
-12.0
2023
-16.0
2020
-8.0
2022
-5.7
2022
-6.5
2021
-3.6
2018
-11.3
2022
-17.5
2020
-2.3
2018
-5.9
2019
2.1
2021
Monthly Seasonality over the period Mar 2018 - Feb 2023
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
2.58
70%
-0.52
40%
-3.00
30%
-0.69
30%
0.22
50%
0.04
40%
3.44
60%
1.36
40%
-4.96
30%
0.99
70%
-3.14
10%
3.69
70%
 Capital Growth on monthly avg returns
100
102.58
102.04
98.99
98.30
98.51
98.56
101.95
103.34
98.22
99.19
96.08
99.63
Best 10.1
2017
10.3
2014
3.4
2016
15.7
2016
19.2
2020
17.6
2016
33.2
2020
18.1
2013
5.5
2022
7.7
2021
15.9
2022
16.7
2020
Worst -3.3
2022
-12.0
2023
-16.0
2020
-14.4
2013
-10.5
2016
-11.5
2013
-6.3
2015
-11.3
2022
-17.5
2020
-6.8
2016
-9.2
2015
-3.5
2016
Monthly Seasonality over the period Mar 2013 - Feb 2023
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
2.74
63%
0.55
46%
0.99
48%
0.85
35%
-0.03
55%
-2.01
33%
2.27
60%
0.04
41%
-0.30
59%
-0.49
46%
1.07
41%
1.02
51%
 Capital Growth on monthly avg returns
100
102.74
103.30
104.32
105.21
105.18
103.07
105.40
105.44
105.12
104.61
105.72
106.81
Best 27.2
1983
20.9
2011
18.4
2004
29.9
1987
26.7
2009
17.6
2016
33.2
2020
21.5
1982
14.7
1998
21.6
1982
15.9
2022
16.7
2020
Worst -9.2
2011
-21.0
1983
-16.0
2020
-23.7
2004
-19.8
2011
-14.7
1983
-15.9
1984
-23.7
2008
-28.5
2011
-22.1
1983
-9.2
2015
-15.8
2011
Monthly Seasonality over the period Aug 1982 - Feb 2023

Monthly/Yearly Returns

iShares Silver Trust (SLV) ETF data source starts from August 1982: let's focus on monthly and yearly returns.

We are providing two different views:
  • Histogram: it shows the distribution of the returns recorded so far
  • Plain Table: it shows the detailed monthly and yearly returns
MONTHLY RETURNS HISTOGRAM
Aug 1982 - Feb 2023
235 Positive Months (48%) - 252 Negative Months (52%)
MONTHLY RETURNS TABLE
Aug 1982 - Feb 2023
(Scroll down to see all data)
Swipe left to see all data
Yearly Return(%)
Monthly Return(%)
Year Total Infl.Adj Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2023
-12.72 -13.89 -0.9 -12.0
2022
+2.37 -3.84 -3.3 8.8 1.1 -8.0 -5.7 -6.0 0.3 -11.3 5.5 0.7 15.9 7.8
2021
-12.45 -18.21 1.7 -1.3 -7.9 5.8 7.9 -6.5 -2.4 -6.3 -7.3 7.7 -4.7 2.1
2020
+47.30 +45.32 0.8 -7.7 -16.0 7.1 19.2 2.1 33.2 15.8 -17.5 1.6 -4.3 16.7
2019
+14.88 +12.31 3.7 -2.8 -3.1 -1.1 -2.6 5.0 6.1 12.8 -7.2 6.3 -5.9 4.8
2018
-9.19 -10.90 2.3 -5.4 -0.3 -0.2 0.5 -2.0 -3.6 -6.6 0.6 -2.3 -0.7 9.0
2017
+5.82 +3.64 10.1 4.4 -0.7 -5.5 0.6 -4.1 1.2 4.7 -5.5 0.3 -1.8 3.1
2016
+14.56 +12.23 3.0 4.5 3.4 15.7 -10.5 17.6 8.3 -8.4 2.7 -6.8 -7.7 -3.5
2015
-12.42 -13.05 9.8 -4.1 0.4 -3.1 3.6 -6.0 -6.3 -0.6 -0.9 6.7 -9.2 -1.9
2014
-19.51 -20.11 -1.4 10.3 -6.4 -3.0 -2.1 12.0 -3.3 -4.4 -12.6 -5.2 -4.3 1.6
2013
-36.30 -37.24 3.6 -9.5 -0.4 -14.4 -8.6 -11.5 0.9 18.1 -7.5 1.0 -8.8 -2.8
2012
+9.02 +7.15 19.8 3.9 -6.5 -4.0 -10.5 -1.1 1.8 13.5 8.7 -6.6 3.5 -9.2
2011
-10.74 -13.30 -9.2 20.9 11.1 27.5 -19.8 -10.0 14.8 4.1 -28.5 15.7 -4.3 -15.8
2010
+82.47 +79.78 -3.9 1.1 6.7 6.5 -1.3 1.0 -3.5 7.7 12.6 13.4 13.5 10.0
2009
+47.68 +43.77 11.8 2.9 -0.7 -4.5 26.7 -13.5 2.4 6.7 12.0 -1.9 12.9 -8.9
2008
-23.79 -23.86 14.4 16.9 -13.4 -1.9 -0.3 3.5 1.5 -23.7 -11.4 -19.2 6.8 9.5
2007
+14.25 +9.77 5.1 4.5 -5.5 -0.1 0.4 -7.7 3.7 -6.3 13.8 5.2 -3.2 5.7
2006
+46.26 +42.63 11.3 -0.5 17.7 19.3 -8.6 -12.2 3.0 13.8 -11.3 7.3 13.8 -7.7
2005
+29.71 +25.42 -1.0 8.8 -2.3 -3.5 7.3 -4.7 2.6 -5.5 9.2 1.1 9.4 6.9
2004
+14.46 +10.86 4.9 7.4 18.4 -23.7 2.2 -5.5 12.2 3.2 2.1 5.7 5.8 -11.7
2003
+24.52 +22.22 1.5 -5.0 -2.8 4.0 -2.6 0.7 12.7 -0.8 0.4 -1.4 5.9 11.0
2002
+3.24 +0.85 -8.2 6.4 2.9 -2.2 10.4 -3.6 -4.8 -3.0 1.6 -0.4 -1.6 7.4
2001
+0.44 -1.09 4.1 -6.5 -4.0 0.9 1.4 -2.1 -1.6 -0.9 10.5 -9.1 -1.2 10.8
2000
-15.13 -17.91 -3.1 -3.4 -1.2 -0.8 -1.0 2.2 -0.8 -0.4 -2.0 -2.7 -1.1 -1.9
1999
+7.54 +4.73 4.2 7.4 -11.9 9.1 -8.9 6.7 3.4 -5.1 7.9 -6.6 0.0 4.0
1998
-16.01 -17.34 3.8 4.3 0.3 -4.5 -18.0 8.4 -1.6 -14.1 14.7 -6.0 -3.6 3.5
1997
+25.52 +23.42 3.4 7.7 -4.7 -7.5 0.4 -1.5 -3.2 3.8 12.0 -8.8 11.6 13.0
1996
-7.91 -10.87 7.5 -1.1 0.2 -3.6 1.3 -7.0 2.6 0.8 -6.2 -1.2 -1.7 1.1
1995
+6.13 +3.50 -4.5 -3.0 17.0 8.1 -7.3 -4.9 0.0 5.9 2.6 -2.6 -2.1 -1.0
1994
-4.30 -6.80 0.6 4.5 7.5 -7.3 3.6 -3.1 -0.9 2.3 3.3 -6.4 -6.5 -0.6
1993
+38.49 +34.79 -0.5 -2.2 7.8 13.4 5.7 -1.5 18.4 -10.4 -16.1 7.6 1.6 14.8
1992
-5.61 -8.27 6.9 -1.4 0.5 -3.4 0.8 0.3 -2.2 -5.1 0.3 0.0 0.0 -1.9
1991
-7.12 -9.88 -8.6 -2.9 3.5 3.6 2.7 7.8 -8.1 -6.1 8.4 -1.0 -0.7 -4.2
1990
-19.35 -23.99 -0.4 -1.4 -3.1 -0.2 2.6 -3.9 -1.4 -0.6 -0.2 -12.6 -1.0 1.7
1989
-13.57 -17.41 -4.3 0.5 -0.5 -3.1 -7.9 -0.2 2.1 -3.8 3.4 -1.0 9.5 -7.9
1988
-9.59 -13.42 -2.4 -4.3 8.0 -3.7 1.7 1.2 1.8 -3.5 -6.6 2.8 -2.7 -1.5
1987
+25.12 +19.81 3.0 -1.1 13.2 29.9 -4.8 -4.6 14.2 -11.0 1.8 -7.7 1.3 -5.0
1986
-8.40 -9.40 4.3 -7.7 -5.0 -4.3 2.9 -0.4 -3.8 0.6 2.6 9.3 -0.7 -5.2
1985
-8.33 -11.69 0.2 -11.3 18.1 -6.0 -1.0 -1.1 2.1 -0.2 -3.5 0.8 1.3 -5.5
1984
-28.95 -31.64 -4.9 12.7 1.5 -8.5 3.5 -9.0 -15.9 5.7 0.0 -3.4 -2.4 -9.5
1983
-17.89 -20.88 27.2 -21.0 -2.9 11.5 14.8 -14.7 4.8 -1.0 -6.7 -22.1 10.9 -7.7
1982
- - 21.5 1.8 21.6 -0.1 10.7

ETF Returns, up to December 2006, are simulated. They have been calculated using the historical series of equivalent ETFs / Assets.

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