Ishares Silver Trust's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Ishares Silver Trust (SLV) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Ishares Silver Trust's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Ishares Silver Trust | - | - | - | Yes |
| Competitors combined (13) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SLV Stock Performance relative to its Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | United States Oil Fund Lp | 282.9% | Outperformed |
| 2 | Invesco Db Energy Fund | 282.9% | Outperformed |
| 3 | United States 12 month Oil Fund Lp | 282.9% | Outperformed |
| 4 | Ishares S and p Gsci Commodity indexed Trust | 282.9% | Outperformed |
| 5 | Invesco Db Commodity Index Tracking Fund | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Ishares Silver Trust's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Ishares Silver Trust
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Ishares Silver Trust | 29,574.09 | -72.17 |
| Spdr Gold Trust | 136,781.12 | -241.92 |
| Ishares Gold Trust | 61,116.50 | 537.32 |
| United States Oil Fund Lp | 2,209.02 | 596.62 |
| Ishares S and p Gsci Commodity indexed Trust | 1,033.23 | 40.07 |
| United States Commodity Index Funds Trust | 395.62 | 104.41 |
| SUBTOTAL | 231,170.45 | 7,296.54 |
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Sources: Ishares Silver Trust's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Ishares Silver Trust versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Ishares Silver Trust's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| American National Group Inc | Annuities 99.44 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Ishares Silver Trust's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Ishares Silver Trust | 29,574 | - | - |
| Spdr Gold Trust | 136,781 | - | - |
| Ishares Gold Trust | 61,117 | - | - |
| United States Oil Fund Lp | 2,209 | 298,310,656 | 736,195,190 |
| Ishares S and p Gsci Commodity indexed Trust | 1,033 | - | - |
| United States Commodity Index Funds Trust | 396 | 1,831,798 | 1,786,669 |
| PEERS TOTAL | 201,596 | 120,798,546 | 616,193,447 |
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Ishares Silver Trust's Valuation vs Competitive Position
Valuation multiples vs the Exchange Traded Funds Etf industry average (22 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 3.0x | 38.5x | -35.5x |
| EV / EBITDA | - | 3.8x | - |
| P/B | - | 1.0x | - |
| Return on Equity | - | industry aggregate | - |
| Return on Invested Capital | - | 1.92 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Ishares Silver Trust's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | - | - | - | 117.87 % | -108.80 % | - | - | - |
| Operating Margin | 57.22 % | 164.07 % | 29.41 % | 0.79 % | 17.05 % | - | - | - |
| Return on Invested Capital | -5.04 % | -21.63 % | -1.47 % | 0.60 % | - | - | -243,520,223.23 % | -223,683,195.60 % |
| P/E | 25.4x | - | 7.2x | - | - | - | 6.1x | 1.6x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Ishares Silver Trust's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- A meaningful share of tracked competitors (75.00 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-24.2% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Ishares Silver Trust's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Ishares Silver Trust | - | 2,215.06 | - |
| Spdr Gold Trust | - | 942.43 | - |
| Ishares Gold Trust | - | 4,310.17 | - |
| United States Oil Fund Lp | 60.33 | 65.31 | - |
| Ishares S and p Gsci Commodity indexed Trust | 7.78 | 139.34 | - |
| United States Commodity Index Funds Trust | 1,667.76 | 1,671.84 | - |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Ishares Silver Trust's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Ishares Silver Trust | Q2 2026 | - | - |
| Spdr Gold Trust | Q2 2026 | - | - |
| Ishares Gold Trust | Q2 2026 | - | - |
| United States Oil Fund Lp | Q2 2026 | - | - |
| Ishares S and p Gsci Commodity indexed Trust | Q2 2026 | - | - |
| United States Commodity Index Funds Trust | Q1 2026 | +491.7 % | +514.4 % |
| PEERS TOTAL | -11.9 % | - |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Ishares Silver Trust's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Ishares Silver Trust | Q2 2026 | - | - |
| Spdr Gold Trust | Q2 2026 | - | - |
| Ishares Gold Trust | Q2 2026 | - | - |
| United States Oil Fund Lp | Q2 2026 | - | - |
| Ishares S and p Gsci Commodity indexed Trust | Q2 2026 | - | - |
| United States Commodity Index Funds Trust | Q1 2026 | - | - |
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Ishares Silver Trust's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Ishares Silver Trust | 166.56% | 23,068,818,004.67% | 2,012.64% |
| Spdr Gold Trust | 17.34% | 17.35% | 17.35% |
| Ishares Gold Trust | 151.51% | 15,004,799,101.75% | 1,329.32% |
| United States Oil Fund Lp | 91.44% | 46.99% | 95.47% |
| Ishares S and p Gsci Commodity indexed Trust | 13.59% | 954,843,482.25% | 278.83% |
| United States Commodity Index Funds Trust | 35.65% | 35.65% | 35.70% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Ishares Silver Trust's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Ishares Silver Trust | 2.75 | - |
| Spdr Gold Trust | 5.50 | - |
| Ishares Gold Trust | 5.60 | 113.74 |
| United States Oil Fund Lp | 4.60 | 3.70 |
| Ishares S and p Gsci Commodity indexed Trust | 6.09 | 25.79 |
| United States Commodity Index Funds Trust | 3.68 | 3.79 |
| PEERS AVERAGE | 4.67 | 31.68 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.