AGMI vs. IVVD

Last updated Jul 1, 2026

AGMI (Themes Silver Miners ETF) is Silver fund tracking the STOXX Global Silver Mining Index, while IVVD (Invivyd Inc.) is a stock. Over the past year, AGMI returned 77.19% vs 22.01% for IVVD. At a 0.14 correlation, their price movements are largely independent.

Performance

AGMI vs. IVVD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Silver Miners ETF (AGMI) and Invivyd Inc. (IVVD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGMI achieves a -5.19% return, which is significantly higher than IVVD's -64.68% return.

AGMI

• 1D: -0.26%
• 1M: -15.37%
• YTD: -5.19%
• 6M: -6.87%
• 1Y: 77.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVVD

• 1D: -7.56%
• 1M: -23.47%
• YTD: -64.68%
• 6M: -64.10%
• 1Y: 22.01%
• 3Y*: -5.99%
• 5Y*: —
• 10Y*: —

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

AGMI vs. IVVD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGMI Themes Silver Miners ETF	-5.19%	176.11%	-0.74%
IVVD Invivyd Inc.	-64.68%	457.44%	-81.30%

Correlation

The correlation between AGMI and IVVD is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since May 3, 2024	0.14

Return for Risk

AGMI vs. IVVD — Risk / Return Rank

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

AGMI

AGMI Risk / Return Rank: 45
AGMI Sharpe Ratio Rank: 50
AGMI Sortino Ratio Rank: 41
AGMI Omega Ratio Rank: 45
AGMI Calmar Ratio Rank: 53
AGMI Martin Ratio Rank: 38

IVVD

IVVD Risk / Return Rank: 57
IVVD Sharpe Ratio Rank: 49
IVVD Sortino Ratio Rank: 68
IVVD Omega Ratio Rank: 64
IVVD Calmar Ratio Rank: 51
IVVD Martin Ratio Rank: 51

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. IVVD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Silver Miners ETF (AGMI) and Invivyd Inc. (IVVD). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AGMI	IVVD	Difference
Sharpe ratio: Return per unit of total volatility	1.50	0.16	+1.34
Sortino ratio: Return per unit of downside risk	1.89	1.48	+0.41
Omega ratio: Gain probability vs. loss probability	1.26	1.17	+0.09
Calmar ratio: Return relative to maximum drawdown	2.26	0.30	+1.95
Martin ratio: Return relative to average drawdown	5.34	0.62	+4.72

AGMI vs. IVVD - Sharpe Ratio Comparison

The current AGMI Sharpe Ratio is 1.50, which is higher than the IVVD Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of AGMI and IVVD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGMI vs. IVVD - Drawdown Comparison

The maximum AGMI drawdown since its inception was -34.40%, smaller than the maximum IVVD drawdown of -99.36%. Use the drawdown chart below to compare losses from any high point for AGMI and IVVD.

Drawdown Indicators

	AGMI	IVVD	Difference
Max Drawdown Largest peak-to-trough decline	-34.40%	-99.36%	+64.96%
Max Drawdown (1Y) Largest decline over 1 year	-34.40%	-73.26%	+38.86%
Max Drawdown (3Y) Largest decline over 3 years	—	-92.90%	—
Current Drawdown Current decline from peak	-31.58%	-98.44%	+66.86%
Average Drawdown Average peak-to-trough decline	-9.78%	-91.16%	+81.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.51%	35.78%	-21.27%

Volatility

AGMI vs. IVVD - Volatility Comparison

The current volatility for Themes Silver Miners ETF (AGMI) is 19.24%, while Invivyd Inc. (IVVD) has a volatility of 27.52%. This indicates that AGMI experiences smaller price fluctuations and is considered to be less risky than IVVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGMI	IVVD	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.24%	27.52%	-8.28%
Volatility (6M) Calculated over the trailing 6-month period	44.02%	66.18%	-22.16%
Volatility (1Y) Calculated over the trailing 1-year period	51.85%	140.17%	-88.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.98%	178.09%	-133.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.98%	178.09%	-133.11%

Dividends

AGMI vs. IVVD - Dividend Comparison

AGMI's dividend yield for the trailing twelve months is around 4.67%, while IVVD has not paid dividends to shareholders.

Position	TTM	2025	2024
AGMI Themes Silver Miners ETF	4.67%	4.43%	1.81%
IVVD Invivyd Inc.	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGMI and IVVD in my portfolio?

AGMI and IVVD have a correlation of 0.18, 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 IVVD?

IVVD has higher volatility (27.52%) compared to AGMI (19.24%). In terms of maximum drawdown, AGMI dropped -34.40% vs IVVD's -99.36%.

Which has better risk-adjusted returns?

AGMI currently has the higher Sharpe Ratio (1.50 vs 0.16), 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.