AG.TO vs. SILG.L

Last updated Apr 1, 2026

Compare and contrast key facts about First Majestic Silver Corp (AG.TO) and Global X Silver Miners UCITS ETF USD Accumulating (SILG.L).

SILG.L is a passively managed fund by Global X that tracks the performance of the EMIX Global Mining Global Gold TR USD. It was launched on May 6, 2022.

Performance

AG.TO vs. SILG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in First Majestic Silver Corp (AG.TO) and Global X Silver Miners UCITS ETF USD Accumulating (SILG.L). The values are adjusted to include any dividend payments, if applicable.

AG.TO vs. SILG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AG.TO First Majestic Silver Corp	30.25%	190.68%	-2.55%	-27.67%	-7.34%
SILG.L Global X Silver Miners UCITS ETF USD Accumulating	5.66%	160.62%	21.23%	-3.57%	-5.43%

Different Trading Currencies

AG.TO is traded in CAD, while SILG.L is traded in GBP. To make them comparable, the SILG.L values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AG.TO achieves a 30.25% return, which is significantly higher than SILG.L's 5.66% return.

AG.TO

• 1D: 9.03%
• 1M: -31.67%
• YTD: 30.25%
• 6M: 74.60%
• 1Y: 210.60%
• 3Y*: 45.58%
• 5Y*: 7.97%
• 10Y*: 13.59%

SILG.L

• 1D: 3.06%
• 1M: -24.21%
• YTD: 5.66%
• 6M: 25.11%
• 1Y: 125.66%
• 3Y*: 44.72%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

AG.TO vs. SILG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AG.TO

AG.TO Risk / Return Rank: 93
AG.TO Sharpe Ratio Rank: 96
AG.TO Sortino Ratio Rank: 92
AG.TO Omega Ratio Rank: 89
AG.TO Calmar Ratio Rank: 93
AG.TO Martin Ratio Rank: 95

SILG.L

SILG.L Risk / Return Rank: 94
SILG.L Sharpe Ratio Rank: 97
SILG.L Sortino Ratio Rank: 94
SILG.L Omega Ratio Rank: 91
SILG.L Calmar Ratio Rank: 95
SILG.L Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AG.TO vs. SILG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Majestic Silver Corp (AG.TO) and Global X Silver Miners UCITS ETF USD Accumulating (SILG.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AG.TO	SILG.L	Difference
Sharpe ratio Return per unit of total volatility	2.89	2.61	+0.28
Sortino ratio Return per unit of downside risk	3.04	2.88	+0.16
Omega ratio Gain probability vs. loss probability	1.39	1.38	+0.01
Calmar ratio Return relative to maximum drawdown	4.92	3.94	+0.97
Martin ratio Return relative to average drawdown	15.71	12.53	+3.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AG.TO vs. SILG.L - Sharpe Ratio Comparison

The current AG.TO Sharpe Ratio is 2.89, which is comparable to the SILG.L Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of AG.TO and SILG.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AG.TO	SILG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.89	2.61	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.83	-0.81

Correlation

The correlation between AG.TO and SILG.L is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AG.TO vs. SILG.L - Dividend Comparison

AG.TO's dividend yield for the trailing twelve months is around 0.10%, while SILG.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021
AG.TO First Majestic Silver Corp	0.10%	0.12%	0.30%	0.34%	0.30%	0.14%
SILG.L Global X Silver Miners UCITS ETF USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

AG.TO vs. SILG.L - Drawdown Comparison

The maximum AG.TO drawdown since its inception was -99.43%, which is greater than SILG.L's maximum drawdown of -31.92%. Use the drawdown chart below to compare losses from any high point for AG.TO and SILG.L.

Drawdown Indicators

	AG.TO	SILG.L	Difference
Max Drawdown Largest peak-to-trough decline	-99.43%	-32.00%	-67.43%
Max Drawdown (1Y) Largest decline over 1 year	-42.58%	-30.90%	-11.68%
Max Drawdown (5Y) Largest decline over 5 years	-74.17%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-79.71%	—	—
Current Drawdown Current decline from peak	-31.67%	-24.29%	-7.38%
Average Drawdown Average peak-to-trough decline	-66.94%	-12.15%	-54.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.32%	9.43%	+3.89%

Volatility

AG.TO vs. SILG.L - Volatility Comparison

First Majestic Silver Corp (AG.TO) has a higher volatility of 25.24% compared to Global X Silver Miners UCITS ETF USD Accumulating (SILG.L) at 18.73%. This indicates that AG.TO's price experiences larger fluctuations and is considered to be riskier than SILG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AG.TO	SILG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.24%	18.73%	+6.51%
Volatility (6M) Calculated over the trailing 6-month period	58.32%	40.87%	+17.45%
Volatility (1Y) Calculated over the trailing 1-year period	73.46%	47.89%	+25.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.49%	39.73%	+18.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.05%	39.73%	+20.32%