AGMI vs. GLTR

Last updated Jun 4, 2026

AGMI (Themes Silver Miners ETF) and GLTR (Aberdeen Standard Physical Precious Metals Basket Shares ETF) are both exchange-traded funds - AGMI is a Silver fund tracking the STOXX Global Silver Mining Index, while GLTR is a Precious Metals fund tracking the ETFS Physical Precious Metals Basket Index. Both are passively managed. Over the past year, AGMI returned 112.77% vs 53.06% for GLTR. Their correlation of 0.81 suggests significant overlap in exposure. AGMI charges 0.35%/yr vs 0.60%/yr for GLTR.

Performance

AGMI vs. GLTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Silver Miners ETF (AGMI) and Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGMI achieves a 7.60% return, which is significantly higher than GLTR's 1.47% return.

AGMI

• 1D: -4.74%
• 1M: 3.77%
• YTD: 7.60%
• 6M: 20.09%
• 1Y: 112.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLTR

• 1D: -1.81%
• 1M: -1.45%
• YTD: 1.47%
• 6M: 10.73%
• 1Y: 53.06%
• 3Y*: 32.36%
• 5Y*: 15.32%
• 10Y*: 13.17%

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

AGMI vs. GLTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGMI Themes Silver Miners ETF	7.60%	176.11%	-0.74%
GLTR Aberdeen Standard Physical Precious Metals Basket Shares ETF	1.47%	87.25%	10.69%

Correlation

The correlation between AGMI and GLTR is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 6, 2024	0.81

The correlation between AGMI and GLTR has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

Return for Risk

AGMI vs. GLTR — Risk / Return Rank

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

AGMI

AGMI Risk / Return Rank: 60
AGMI Sharpe Ratio Rank: 70
AGMI Sortino Ratio Rank: 51
AGMI Omega Ratio Rank: 57
AGMI Calmar Ratio Rank: 68
AGMI Martin Ratio Rank: 54

GLTR

GLTR Risk / Return Rank: 36
GLTR Sharpe Ratio Rank: 39
GLTR Sortino Ratio Rank: 31
GLTR Omega Ratio Rank: 44
GLTR Calmar Ratio Rank: 36
GLTR Martin Ratio Rank: 28

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.

AGMI vs. GLTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Silver Miners ETF (AGMI) and Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR). 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.

	AGMI	GLTR	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.42	+0.90
Sortino ratio: Return per unit of downside risk	2.52	1.73	+0.79
Omega ratio: Gain probability vs. loss probability	1.35	1.29	+0.06
Calmar ratio: Return relative to maximum drawdown	3.41	1.80	+1.61
Martin ratio: Return relative to average drawdown	9.21	4.13	+5.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGMI vs. GLTR - Sharpe Ratio Comparison

The current AGMI Sharpe Ratio is 2.32, which is higher than the GLTR Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of AGMI and GLTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AGMI	GLTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	1.42	+0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.65	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	0.32	+1.24

Drawdowns

AGMI vs. GLTR - Drawdown Comparison

The maximum AGMI drawdown since its inception was -33.26%, smaller than the maximum GLTR drawdown of -55.70%. Use the drawdown chart below to compare losses from any high point for AGMI and GLTR.

Drawdown Indicators

	AGMI	GLTR	Difference
Max Drawdown Largest peak-to-trough decline	-33.26%	-55.70%	+22.44%
Max Drawdown (1Y) Largest decline over 1 year	-33.26%	-29.70%	-3.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-29.70%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.70%	—
Current Drawdown Current decline from peak	-22.35%	-26.86%	+4.51%
Average Drawdown Average peak-to-trough decline	-9.14%	-28.83%	+19.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.29%	12.88%	-0.59%

Volatility

AGMI vs. GLTR - Volatility Comparison

Themes Silver Miners ETF (AGMI) has a higher volatility of 17.62% compared to Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR) at 9.13%. This indicates that AGMI's price experiences larger fluctuations and is considered to be riskier than GLTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGMI	GLTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.62%	9.13%	+8.49%
Volatility (6M) Calculated over the trailing 6-month period	40.98%	35.41%	+5.57%
Volatility (1Y) Calculated over the trailing 1-year period	48.95%	37.58%	+11.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.04%	23.63%	+20.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.04%	20.50%	+23.54%

AGMI vs. GLTR - Expense Ratio Comparison

AGMI has a 0.35% expense ratio, which is lower than GLTR's 0.60% expense ratio.

Dividends

AGMI vs. GLTR - Dividend Comparison

AGMI's dividend yield for the trailing twelve months is around 4.12%, while GLTR has not paid dividends to shareholders.

Position	TTM	2025	2024
AGMI Themes Silver Miners ETF	4.12%	4.43%	1.81%
GLTR Aberdeen Standard Physical Precious Metals Basket Shares ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGMI and GLTR in my portfolio?

AGMI and GLTR have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGMI or GLTR?

AGMI has higher volatility (17.62%) compared to GLTR (9.13%). In terms of maximum drawdown, AGMI dropped -33.26% vs GLTR's -55.70%.

Which ETF is better, AGMI or GLTR?

On 1-year performance, AGMI leads with 112.77% vs 53.06% for GLTR. On fees, AGMI is cheaper at 0.35% per year. On volatility, GLTR has been the lower-risk option at 9.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGMI or GLTR?

Over the 1-year period, AGMI has performed better with a 112.77% return vs 53.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGMI or GLTR?

AGMI is cheaper with a 0.35% expense ratio, compared with 0.60% for GLTR.

Which ETF pays a higher dividend yield, AGMI or GLTR?

AGMI has the higher dividend yield at 4.12%, compared with 0.00% for GLTR.

What is the main difference between AGMI and GLTR?

AGMI is categorized as Silver, while GLTR is Precious Metals. AGMI tracks STOXX Global Silver Mining Index, while GLTR tracks ETFS Physical Precious Metals Basket Index. They also come from different issuers: Themes and Aberdeen. Their fees differ too: 0.35% for AGMI and 0.60% for GLTR.

Which has better risk-adjusted returns?

AGMI currently has the higher Sharpe Ratio (2.32 vs 1.42), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.