Data as of Oct 28, 2026.
SLV vs VOO: Differences, Returns & Fees
SLV is a commodity fund and VOO an equity index fund, and over the year to Oct 28, 2026, SLV returned +14.9% against +13.7%.
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Net assets: $26.9bn on Oct 28, 2026 for iShares Silver Trust, and $1.0tn on Sep 30, 2026 for Vanguard S&P 500 ETF.
Pair scorecard
VOO costs 0.47 points a year less; their one-year returns differ by 1.2 points; VOO is far larger, $1.0tn against $30.0bn.
| Measure | SLV | VOO |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.9% | +13.7% |
| Drawdown | ||
| Below its high | 53.5%, high on Jan 28, 2026 | |
| Benchmark | ||
| What it tracks | Silver | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.50% | 0.03% |
| Net assets, as of Sep 30, 2026 | $30.0bn | $1.0tn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 39.1% | |
Risk and return
Sep 17, 2010 to Oct 23, 2026 · 840 weekly returnsEach against its own benchmark: SLV against SIVR, Jul 31, 2009 to Oct 23, 2026; VOO against IVV, Sep 17, 2010 to Oct 23, 2026.
VOO returned more: +804.0% to +140.1%. VOO swung less: 15.9% to 31.0%. VOO fell less at its worst: −31.8% to −75.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SLV | VOO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +140.1% | +804.0% | VOO | Price change plus distributions, reinvested. |
| Annualized | +5.6% | +14.6% | VOO | Total return as a yearly rate. |
| Price return | +140.1% | +575.9% | VOO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 31.0% | 15.9% | VOO | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 21.5% | 10.9% | VOO | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −75.2% | −31.8% | VOO | Deepest fall from a high to the low after it. |
| Upside capture | 100.2% | 99.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 100.2% | 99.9% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.00 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.28 | 0.84 | VOO | Return above Treasury bills per unit of volatility. |
| Sortino | 0.41 | 1.22 | VOO | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.107 | 0.134 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.07 | 0.46 | VOO | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SIVR | IVV | The ETF each fund is measured against. | |
| Alpha | −0.2% a year | 0.0% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.92 | 0.51 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.6% to +0.2% | −0.1% to +0.2% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.19 | 0.02 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.8% | 0.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 840 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
SLV and VOO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SLV and VOO do different jobs. What does each one do in a portfolio?
- What each follows. SLV follows Silver and VOO follows S&P 500 Index.
- Cost. SLV charges 0.50% of assets a year and VOO 0.03%, a gap of 0.47 points.
- Size. SLV has $30.0bn in net assets and VOO $1.0tn (net assets, as of Sep 30, 2026); VOO is 33.3 times larger.
Data as of Oct 28, 2026.
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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.
VOO
VOO tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 507 positions, with the top ten at 39.1%.
Questions people ask
- Which returned more over the last year, SLV or VOO?
- In the year to Oct 28, 2026, with distributions reinvested, SLV returned +14.9% and VOO +13.7%.
- Which is cheaper, SLV or VOO?
- VOO is cheaper, by 0.47 percentage points a year. That is about $47 on $10,000 held for a year. Fees come from each fund's own filings.
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ETFIQ, SLV against VOO, data as of Oct 28, 2026. https://etfiq.com/compare/any/slv-vs-voo
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