Credit Suisse X-Links Silver Shares Covered… (SLVO) Performance
SLVO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −6.8% since Dec 31, 2025
- 1 year
- +9.0% total return
- 5 years
- +13.3% a year
- 10 years
- +8.1% a year
- Since first price
- +3.7% a year since 2013
SLVO trailing returns vs SPY, QQQ, AGG
| Period | SLVO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −14.1% | −16.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.0% | −8.0% | +3.2% | +1.9% | −0.4% |
| 6 months | −14.9% | −34.0% | +7.8% | +8.4% | −1.5% |
| YTD | −6.8% | −43.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.0% | −37.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +99.0%+25.8%/yr | −20.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +86.6%+13.3%/yr | −47.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +117.8%+8.1%/yr | −68.7% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionApr 17, 2013 | +63.3%+3.7%/yr | −85.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SLVO vs SPY
From Apr 17, 2013: SLVO grew to $16,327, SPY to $61,575.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SLVO returns by calendar year
7 of 12 full years positive. Best 2025 (+71.2%), worst 2014 (−17.5%). 2026 is year to date.
SLVO annual returns table
| Year | SLVO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −6.8% | −22.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +71.2% | −11.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +19.1% | −12.8% | +24.9% | +25.6% | +1.3% |
| 2023 | −2.3% | −16.6% | +26.2% | +54.9% | +5.7% |
| 2022 | +4.2% | −28.1% | −18.2% | −32.6% | −13.0% |
| 2021 | −4.6% | −20.3% | +28.7% | +27.4% | −1.8% |
| 2020 | +20.8% | −37.8% | +18.3% | +48.6% | +7.5% |
| 2019 | +9.5% | −11.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −7.5% | −18.1% | −4.6% | −0.1% | +0.1% |
| 2017 | +5.0% | −16.2% | +21.7% | +32.7% | +3.6% |
| 2016 | +1.9% | −19.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −5.1% | −18.0% | +1.2% | +9.4% | +0.5% |
| 2014 | −17.5% | −27.9% | +13.5% | +19.2% | +6.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SLVO largest drawdowns
Now 20.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 6, 2013 | −55.0% | Mar 18, 2020 | Jul 5, 2024 | 6.9 years | 11.2 years |
| May 13, 2026 | −22.2% | Jul 16, 2026 | not yet | 2 months | 5 months so far |
| Mar 10, 2026 | −17.2% | Mar 26, 2026 | May 11, 2026 | 16 days | 2 months |
| Jul 16, 2024 | −12.8% | Aug 7, 2024 | Oct 11, 2024 | 22 days | 3 months |
| Jan 28, 2026 | −12.6% | Jan 30, 2026 | Feb 23, 2026 | 2 days | 26 days |
| Mar 27, 2025 | −11.2% | Apr 4, 2025 | Jun 2, 2025 | 8 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SLVO risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2013 |
|---|---|---|---|---|
| Annualized return | +31.3% | +17.2% | +8.2% | +4.2% |
| Volatility (annualized) | 24.0% | 23.2% | 21.8% | 21.4% |
| Sharpe ratio | 1.08 | 0.65 | 0.37 | 0.22 |
| Sortino ratio | 2.04 | 1.10 | 0.59 | 0.34 |
| Best month | +21.0% | +21.0% | +21.0% | +21.0% |
| Worst month | −16.3% | −16.3% | −16.3% | −16.3% |
| Best 12 months | +82.9% | +82.9% | +82.9% | +82.9% |
| Worst 12 months | +17.8% | −15.1% | −21.6% | −23.6% |
| Positive months | 61% | 57% | 52% | 50% |
| Beta vs S&P 500 | 0.33 | 0.42 | 0.51 | — |
| Correlation with S&P 500 | 0.17 | 0.28 | 0.36 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SLVO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 151 | −23.6% | +3.8% | +82.9% | 58% |
| 3-year (a year) | 127 | −10.3% | +2.1% | +36.4% | 57% |
| 5-year (a year) | 103 | −8.0% | +3.7% | +17.2% | 75% |
| 10-year (a year) | 43 | −2.0% | +4.3% | +11.2% | 74% |
Every holding period starting at a month-end since 2013. Returns for 3 years and longer are annualized.
SLVO performance overview
Credit Suisse X-Links Silver Shares Covered… (SLVO) returned +9.0% over the past year and +8.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2013 it has returned +3.7% a year, turning $10,000 into about $16,327. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −55.0%, from May 6, 2013 to Mar 18, 2020, and it took 4.3 years to get back to the old high. SLVO finished 7 of its 12 full calendar years with a gain; the best year was 2025 (+71.2%) and the worst 2014 (−17.5%). Volatility has been 21.4% a year.
Related: SLVO chart, SLVO dividends. See the SLVO overview for the latest quote and fund facts.
SLVO performance FAQ
What is the SLVO return over the past year?
SLVO returned +9.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 37.1%.
What is the average annual return of SLVO?
SLVO has returned +13.3% a year over 5 years, +8.1% a year over 10 years, +3.7% a year since April 17, 2013 (total return, distributions reinvested).
How much would $10,000 invested in SLVO be worth?
$10,000 invested in SLVO at its first recorded close on April 17, 2013 would be worth about $16,327 on October 23, 2026 with distributions reinvested.
What was the worst year for SLVO?
The worst calendar year was 2014, with a total return of −17.5%. The best was 2025 at +71.2%.
What is the biggest drawdown of SLVO?
The largest peak-to-trough decline was −55.0% between May 6, 2013 and March 18, 2020. It recovered to the old high on July 5, 2024, 4.3 years after the bottom.
How volatile is SLVO?
Over the past 3 years SLVO had an annualized volatility of 24.0% and a Sharpe ratio of 1.08 (excess return over 1–3 month T-bills per unit of risk).