Data as of Nov 4, 2026.
SLVP vs SLX: Holdings Overlap & Returns
Over the year to Nov 4, 2026, SLVP returned +31.0% to SLX's +32.9%; 0% of their weight is in the same names.
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Net assets: $799m on Nov 4, 2026 for iShares MSCI Global Silver and Metals Miners ETF, and $150m on Nov 3, 2026 for VanEck Steel ETF.
5% of SLVP's weight is in S&P 500 companies and 95% is outside the index. Holdings as of Nov 3, 2026.
14% of SLX's weight is in S&P 500 companies and 87% is outside the index. Holdings as of Nov 2, 2026.
Pair scorecard
SLVP costs 0.16 points a year less; their one-year returns differ by 1.9 points; SLVP is 4.8 times larger.
Points (pts) are percentage points.
| Measure | SLVP | SLX |
|---|---|---|
| Return | ||
| Total return, 1 year | +31.0% | +32.9% |
| Drawdown | ||
| Below its all-time high | 33.0%, high on Feb 27, 2026 | 12.2%, high on Jun 2, 2026 |
| Against its benchmark | ||
| What it tracks | Silver miners | Miners and metals |
| Its benchmark, total return, 1 year | +15.0% | +15.0% |
| Against its benchmark, 1 year | ahead by 16.0 pts | ahead by 17.9 pts |
| Cost and size | ||
| Expense ratio | 0.39% | 0.55% |
| Net assets, as of Nov 3, 2026 | $727m | $150m |
| Holdings | ||
| Holdings in common | 0% | |
Risk and return
Feb 10, 2012 to Oct 30, 2026 · 768 weekly returns · each against ACWIFrom Feb 2012 to Oct 2026, SLX returned more: +188.1% to +45.6%. SLX swung less: 30.2% to 41.1%. SLX fell less at its worst: −67.1% to −79.5%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SLVP | SLX | ACWI | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +45.6% | +188.1% | SLX | Price change plus distributions, reinvested. | |
| Annualized | +2.6% | +7.4% | SLX | Total return as a yearly rate. | |
| Price return | +17.2% | +78.6% | SLX | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 41.1% | 30.2% | SLX | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 28.2% | 20.2% | SLX | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −79.5% | −67.1% | SLX | Deepest fall from a high to the low after it. | |
| Upside capture | 69.7% | 163.4% | 100.0% | SLX | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 95.0% | 129.7% | 100.0% | SLVP | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.96 | 1.43 | 1.00 | SLVP lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.13 | 0.53 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.23 | 0.33 | SLX | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.33 | 0.49 | SLX | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.097 | 0.070 | 0.098 | SLVP | Return above Treasury bills per unit of beta. |
| Calmar | 0.03 | 0.11 | SLX | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | ACWI | ACWI | ACWI | The ETF each fund is measured against. | |
| Alpha | 0.0% a year | −4.0% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.00 | −0.73 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −19.7% to +19.7% | −14.7% to +6.7% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.01 | 0.01 | SLX | Return against its benchmark per unit of tracking error. | |
| Tracking error | 38.4% | 21.8% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 768 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SLVP and SLX hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | SLVP | SLX | SLVP | SLX |
| 3 months | −6.8% | −9.3% | −5.5 pts vs ACWI | −8.0 pts vs ACWI |
| 6 months | −14.7% | −8.1% | −17.3 pts vs ACWI | −10.7 pts vs ACWI |
| 1 year | +31.0% | +32.9% | +16.0 pts vs ACWI | +17.9 pts vs ACWI |
| 3 years | +257.6% | +64.3% | +180.0 pts vs ACWI | −13.3 pts vs ACWI |
| Since launchNot the same days: SLVP Feb 2012 · SLX Oct 2006 | +53.4% | +326.1% | −314.3 pts vs ACWI | not measured |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
Client brief:
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SLVP
By weight, 5% of SLVP's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 72% of the fund across 37 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +31.0% with distributions reinvested against +15.0% for its benchmark, the MSCI All Country World Index, so a holder was ahead by 16.0 pts. It sits 33.0% below its all-time high of Feb 27, 2026.
SLX
By weight, 14% of SLX's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 57% of the fund across 39 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +32.9% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 17.9 pts. It sits 12.2% below its all-time high of Jun 2, 2026.
Questions people ask
- Do SLVP and SLX hold the same stocks?
- By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, SLVP against SLX, data as of Nov 4, 2026. https://etfiq.com/compare/themes/slvp-vs-slx
ETFIQ. (Nov 4, 2026). SLVP against SLX. Retrieved from https://etfiq.com/compare/themes/slvp-vs-slx
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