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Credit Suisse X-Links Silver Shares Covered Call ETN(SLVO)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
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- 1M
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- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for SLVO
09/16/2026: SLVO (1-star) has a low Upturn Star Rating. Not recommended to BUY.
SLVO is an ETN that provides investors with silver exposure while executing a covered call strategy to generate income. Its primary strength is the automated collection of option premiums, which offers a yield component often absent in commodity investments, though this comes at the cost of capped upside during price rallies. The fund is best suited for income-focused investors who expect silver to perform well or remain range-bound. Key risks include exposure to the silver market, the ETN's credit risk, and limited potential for large capital gains. Investors should monitor silver price trends, implied volatility levels, and the creditworthiness of the issuing institution.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | The covered call strategy caps potential capital appreciation, which is contrary to aggressive growth objectives. |
| Momentum investor | Weak fit | Capped upside limits the ability to capture full momentum during aggressive silver price rallies. |
| Value investor | Mixed fit | Value investors may appreciate the income component but must be comfortable with the volatility inherent in silver. |
| Dividend/Income investor | Strong fit | The core design of the fund is to provide regular income distributions derived from option premiums. |
| Low-risk investor | Weak fit | Silver remains a volatile asset class, and the ETN structure introduces credit risk from the issuer. |
Investor Profile
Ideal Investor Profile
An income-oriented investor who has a neutral or mildly bullish view on silver and is comfortable with the ETN credit structure.
Suitability
Best for investors seeking supplemental yield in a silver-exposed portfolio; not suitable for those looking for pure, uncapped upside potential.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | High | Silver is a highly volatile commodity, leading to significant price swings in the underlying index. |
| Market risk | High | The ETN is directly susceptible to downward moves in the price of silver. |
| Concentration | High | The portfolio is concentrated entirely on silver, providing no sector diversification. |
| Tracking/expense | Medium | Tracking error can occur due to the delta of the options and the specific roll schedule of the strategy. |
| Liquidity | Medium | Lower trading volumes compared to major ETFs may lead to higher execution costs. |
| Business/sector quality | Medium | The ETN structure introduces credit risk, meaning investors rely on the issuer's ability to pay. |
Risk Analysis
Volatility
SLVO exhibits high historical volatility due to its reliance on silver price movements and the impact of implied volatility on option premiums.
Market Risk
The primary risk is the price of silver, but the covered call strategy also introduces specific risks related to option expiration and the failure to participate in sharp price rallies.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Commodity | iShares Silver Trust (SLV) | 100 | The ETN is primarily linked to the price performance of physical silver held through the iShares Silver Trust. |
Price Behavior
Flat / Range-Bound
The stock price has been trading within a narrow range with minimal directional movement.
Moderately Choppy
The stock has experienced noticeable price swings while retaining some directional structure.
Analysis of Past Performance
Type ETF | Historic Profit 25.28% | Avg. Invested days 49 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | ETF Returns Performance  4.0 |
| Profits based on simulation | Last Close 09/16/2026 |
ETF Fundamentals 
Source: EOD Historical Data • Updated Sep 17, 2026
Fund Basics
| Metric | Value |
|---|---|
| Fund Size (AUM) | $423.67M |
| Issuer | UBS AG |
| Expense Ratio | 0.65% |
| Distribution Yield | 63.17% |
| Inception | Apr 16, 2013 |
Performance
| Period | Total Return |
|---|---|
| YTD | +4.32% |
| 1 Year | +26.36% |
| 3 Year | +31.89% |
| 5 Year | +16.02% |
| 10 Year | +8.51% |
Risk Metrics
| Metric | Value |
|---|---|
| 1Y Volatility | 29.89% |
| 3Y Volatility | 22.33% |
| 3Y Sharpe Ratio | 1.12 |
Top Sectors
| Sector | Weight |
|---|---|
| Basic Materials | 0.00% |
| Consumer Cyclicals | 0.00% |
| Financial Services | 0.00% |
| Real Estate | 0.00% |
Portfolio Characteristics
| Metric | Value |
|---|---|
| Holdings Turnover | 0.0% |
Top Holdings
| Holding | Weight |
|---|---|
| 100.00% |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
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