AGMI vs. LIMI

Last updated Jun 24, 2026

AGMI (Themes Silver Miners ETF) and LIMI (Themes Lithium & Battery Metal Miners ETF) are both exchange-traded funds - AGMI is a Silver fund tracking the STOXX Global Silver Mining Index, while LIMI is a Lithium & Battery Metals fund tracking the BITA Global Lithium and Battery Metals Select Index. Both are passively managed. Over the past year, AGMI returned 82.04% vs 127.73% for LIMI. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

AGMI vs. LIMI - Performance Comparison

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

Returns By Period

In the year-to-date period, AGMI achieves a -4.46% return, which is significantly lower than LIMI's 8.76% return.

AGMI

• 1D: -6.11%
• 1M: -9.96%
• YTD: -4.46%
• 6M: -7.11%
• 1Y: 82.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LIMI

• 1D: -4.97%
• 1M: -10.59%
• YTD: 8.76%
• 6M: 10.01%
• 1Y: 127.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AGMI vs. LIMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGMI Themes Silver Miners ETF	-4.46%	176.11%	-11.88%
LIMI Themes Lithium & Battery Metal Miners ETF	8.76%	91.22%	-0.82%

Correlation

The correlation between AGMI and LIMI is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024	0.43

Return for Risk

AGMI vs. LIMI — 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: 48
AGMI Sortino Ratio Rank: 41
AGMI Omega Ratio Rank: 43
AGMI Calmar Ratio Rank: 51
AGMI Martin Ratio Rank: 40

LIMI

LIMI Risk / Return Rank: 84
LIMI Sharpe Ratio Rank: 91
LIMI Sortino Ratio Rank: 79
LIMI Omega Ratio Rank: 74
LIMI Calmar Ratio Rank: 92
LIMI Martin Ratio Rank: 83

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. LIMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Silver Miners ETF (AGMI) and Themes Lithium & Battery Metal Miners ETF (LIMI). 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	LIMI	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.86	-1.27
Sortino ratio: Return per unit of downside risk	1.97	3.19	-1.22
Omega ratio: Gain probability vs. loss probability	1.27	1.40	-0.13
Calmar ratio: Return relative to maximum drawdown	2.40	5.59	-3.19
Martin ratio: Return relative to average drawdown	5.96	15.30	-9.34

AGMI vs. LIMI - Sharpe Ratio Comparison

The current AGMI Sharpe Ratio is 1.59, which is lower than the LIMI Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of AGMI and LIMI, 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. LIMI - Drawdown Comparison

The maximum AGMI drawdown since its inception was -34.40%, smaller than the maximum LIMI drawdown of -43.77%. Use the drawdown chart below to compare losses from any high point for AGMI and LIMI.

Drawdown Indicators

	AGMI	LIMI	Difference
Max Drawdown Largest peak-to-trough decline	-34.40%	-43.77%	+9.37%
Max Drawdown (1Y) Largest decline over 1 year	-34.40%	-23.00%	-11.40%
Current Drawdown Current decline from peak	-31.06%	-19.44%	-11.62%
Average Drawdown Average peak-to-trough decline	-9.57%	-13.10%	+3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.80%	8.38%	+5.42%

Volatility

AGMI vs. LIMI - Volatility Comparison

Themes Silver Miners ETF (AGMI) has a higher volatility of 19.41% compared to Themes Lithium & Battery Metal Miners ETF (LIMI) at 12.75%. This indicates that AGMI's price experiences larger fluctuations and is considered to be riskier than LIMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGMI	LIMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.41%	12.75%	+6.66%
Volatility (6M) Calculated over the trailing 6-month period	44.13%	30.77%	+13.36%
Volatility (1Y) Calculated over the trailing 1-year period	51.73%	44.90%	+6.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.04%	41.77%	+3.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.04%	41.77%	+3.27%

AGMI vs. LIMI - Expense Ratio Comparison

Both AGMI and LIMI have an expense ratio of 0.35%.

Dividends

AGMI vs. LIMI - Dividend Comparison

AGMI's dividend yield for the trailing twelve months is around 4.64%, more than LIMI's 0.50% yield.

Position	TTM	2025	2024
AGMI Themes Silver Miners ETF	4.64%	4.43%	1.81%
LIMI Themes Lithium & Battery Metal Miners ETF	0.50%	0.54%	8.14%

Frequently Asked Questions

Can I hold both AGMI and LIMI in my portfolio?

AGMI and LIMI have a correlation of 0.45, 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 LIMI?

AGMI has higher volatility (19.41%) compared to LIMI (12.75%). In terms of maximum drawdown, AGMI dropped -34.40% vs LIMI's -43.77%.

Which ETF is better, AGMI or LIMI?

On 1-year performance, LIMI leads with 127.73% vs 82.04% for AGMI. Both ETFs have the same 0.35% expense ratio. On volatility, LIMI has been the lower-risk option at 12.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGMI or LIMI?

Over the 1-year period, LIMI has performed better with a 127.73% return vs 82.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGMI or LIMI?

AGMI and LIMI have the same expense ratio: 0.35% per year.

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

AGMI has the higher dividend yield at 4.64%, compared with 0.50% for LIMI.

What is the main difference between AGMI and LIMI?

AGMI is categorized as Silver, while LIMI is Lithium & Battery Metals. AGMI tracks STOXX Global Silver Mining Index, while LIMI tracks BITA Global Lithium and Battery Metals Select Index.

Which has better risk-adjusted returns?

LIMI currently has the higher Sharpe Ratio (2.86 vs 1.59), 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.