Which returned more over the last year, SHV or SLV?

In the year to Oct 28, 2026, with distributions reinvested, SHV returned +3.6% and SLV +14.9%.

Which is cheaper, SHV or SLV?

SHV is cheaper, by 0.35 percentage points a year. That is about $35 on $10,000 held for a year. Fees come from each fund's own filings.

Data as of Oct 28, 2026.

Across categories

SHV vs SLV: Differences, Returns & Fees

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SHV is a bond index fund and SLV a commodity fund, and over the year to Oct 28, 2026, SLV returned +14.9% against +3.6%.

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Net assets: $21.7bn on Oct 27, 2026 for iShares 0-1 Year Treasury Bond ETF, and $26.9bn on Oct 28, 2026 for iShares Silver Trust.

SHV on its own →SLV on its own →

At a glance

+3.6%

SHV total return, 1 year

+14.9%

SLV total return, 1 year

0.15%

SHV expense ratio

0.50%

SLV expense ratio

Pair scorecard

SHV costs 0.35 points a year less; their one-year returns differ by 11.3 points; SLV is 1.2 times larger.

SHV vs SLV: Differences, Returns & Fees
Measure	SHV	SLV
Return
Measure	SHV	SLV
Total return, 1 year	+3.6%	+14.9%
Drawdown
Measure	SHV	SLV
Below its high		53.5%, high on Jan 28, 2026
Benchmark
Measure	SHV	SLV
What it tracks	ICE Short US Treasury Securities Index	Silver
Cost and size
Measure	SHV	SLV
Expense ratio	0.15%	0.50%
Net assets, as of Oct 27, 2026	$21.7bn	$26.5bn
Holdings
Measure	SHV	SLV
Holdings in common	not published

Method

Risk and return

Jan 19, 2007 to Oct 23, 2026 · 1,031 weekly returns

SHV SLV

Return

Total return edge SLV +37.2% +280.6%

Annualized edge SLV +1.6% +7.0%

Price return edge SLV +1.4% +280.6%

Risk

Volatility edge SHV 0.3% 32.3%

Max drawdown edge SHV −0.4% −75.2%

Risk-adjusted

Sharpe edge SLV −0.01 0.32

Sortino edge SLV −0.01 0.46

Calmar edge SHV 4.15 0.09

Reading

SLV returned more: +280.6% to +37.2%. SHV swung less: 0.3% to 32.3%. SHV fell less at its worst: −0.4% to −75.2%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: SHV vs SLV: Differences, Returns & Fees
Measure	SHV	SLV	Edge	How it is measured
Return
Total return	+37.2%	+280.6%	SLV	Price change plus distributions, reinvested.
Annualized	+1.6%	+7.0%	SLV	Total return as a yearly rate.
Price return	+1.4%	+280.6%	SLV	Price change alone, distributions left out.
Risk
Volatility	0.3%	32.3%	SHV	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	0.2%	22.7%	SHV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−0.4%	−75.2%	SHV	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.01	0.32	SLV	Return above Treasury bills per unit of volatility.
Sortino	−0.01	0.46	SLV	Return above Treasury bills per unit of downside deviation.
Calmar	4.15	0.09	SHV	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,031 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

SHV iShares 0-1 Year Treasury Bond ETF SLV iShares Silver Trust

Where it sits Bond ETF Commodity ETF

Issuer iShares iShares

What it is Tracks an index of 0-1 Year Treasury Bond Holds silver

Total return, 1 year +3.6% +14.9%

Its benchmark over the same days not measured +15.0% (SIVR)

Gap to its benchmark not measured −0.1 pts vs SIVR

Expense ratio 0.15% 0.50%

Holdings 66 not counted

Net assets, SHV as of Oct 27, 2026 and SLV as of Oct 28, 2026 $21.7bn $26.9bn

SHV and SLV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-47CEED1F44

SHV and SLV do different jobs. What does each one do in a portfolio?

What each follows. SHV follows ICE Short US Treasury Securities Index and SLV follows Silver.
One-year total return. Over 1 year to Oct 28, 2026 SHV returned +3.6% and SLV +14.9% with distributions reinvested, a gap of 11.3 points.
Cost. SHV charges 0.15% of assets a year and SLV 0.50%, a gap of 0.35 points.

Data as of Oct 28, 2026.

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About each fund

SHV

SHV tracks an index of 0-1 Year Treasury Bond. Over the year to Oct 28, 2026 it returned +3.6% with distributions reinvested. The prospectus expense ratio is 0.15% a year.

SLV

Its expense ratio is 0.50% a year, for the three months to Jun 30, 2026, as its 10-Q states.

SLV holds silver. Over the year to Oct 28, 2026 it returned +14.9% with distributions reinvested, against +15.0% for its benchmark, the price of silver. It sat 53.5% below its high of Jan 28, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, SHV or SLV?: In the year to Oct 28, 2026, with distributions reinvested, SHV returned +3.6% and SLV +14.9%.
Which is cheaper, SHV or SLV?: SHV is cheaper, by 0.35 percentage points a year. That is about $35 on $10,000 held for a year. Fees come from each fund's own filings.

Other comparisons

GLD vs SHV BWET vs SHV GLDM vs SHV IAU vs SHV SLV vs VBIL SLV vs VUSB SLV vs USFR MINT vs SLV

Where to next

SHV on its own →SLV on its own →Hold both: look the portfolio through →Rankings →SHV dividend history →SHV holdings →Standards and sources →

Sources and dates

SHV filings on SEC EDGAR ↗

SHV prospectus with the expense ratio (SEC) ↗

iShares page for SHV ↗

iShares page for SLV ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, SHV against SLV, data as of Oct 28, 2026. https://etfiq.com/compare/any/shv-vs-slv

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