AGMI vs. NRJL.L

Last updated Jul 1, 2026

AGMI (Themes Silver Miners ETF) and NRJL.L (Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist) are both exchange-traded funds - AGMI is a Silver fund tracking the STOXX Global Silver Mining Index, while NRJL.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD. Both are passively managed. Over the past year, AGMI returned 77.19% vs 72.67% for NRJL.L. At a 0.42 correlation, their price movements are largely independent. AGMI charges 0.35%/yr vs 0.60%/yr for NRJL.L.

Performance

AGMI vs. NRJL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Silver Miners ETF (AGMI) and Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AGMI is traded in USD, while NRJL.L is traded in GBP. To make them comparable, the NRJL.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AGMI achieves a -5.19% return, which is significantly lower than NRJL.L's 36.22% return.

AGMI

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

NRJL.L

• 1D: 2.10%
• 1M: -1.77%
• YTD: 36.22%
• 6M: 35.32%
• 1Y: 72.67%
• 3Y*: 12.73%
• 5Y*: 2.12%
• 10Y*: 9.77%

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

AGMI vs. NRJL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGMI Themes Silver Miners ETF	-5.19%	176.11%	-0.74%
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist	36.22%	45.70%	-4.54%

Correlation

The correlation between AGMI and NRJL.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since May 3, 2024	0.42

AGMI vs. NRJL.L - Sectors Allocation Comparison

Sectors	AGMI	NRJL.L
Basic Materials	99.8%	10.8%
Technology	0.0%	16.7%
Communication Services	-	0.0%
Consumer Cyclical	-	0.2%
Consumer Defensive	-	0.0%
Energy	-	4.1%
Financial Services	-	0.0%
Healthcare	-	0.0%
Industrials	-	39.4%
Real Estate	-	-
Utilities	-	32.9%

Return for Risk

AGMI vs. NRJL.L — 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

NRJL.L

NRJL.L Risk / Return Rank: 96
NRJL.L Sharpe Ratio Rank: 97
NRJL.L Sortino Ratio Rank: 95
NRJL.L Omega Ratio Rank: 95
NRJL.L Calmar Ratio Rank: 96
NRJL.L Martin Ratio Rank: 96

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. NRJL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Silver Miners ETF (AGMI) and Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.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.

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	NRJL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.50	3.26	-1.76
Sortino ratio: Return per unit of downside risk	1.89	3.89	-2.00
Omega ratio: Gain probability vs. loss probability	1.26	1.53	-0.27
Calmar ratio: Return relative to maximum drawdown	2.26	6.92	-4.66
Martin ratio: Return relative to average drawdown	5.34	22.97	-17.63

AGMI vs. NRJL.L - Sharpe Ratio Comparison

The current AGMI Sharpe Ratio is 1.50, which is lower than the NRJL.L Sharpe Ratio of 3.26. The chart below compares the historical Sharpe Ratios of AGMI and NRJL.L, 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. NRJL.L - Drawdown Comparison

The maximum AGMI drawdown since its inception was -34.40%, smaller than the maximum NRJL.L drawdown of -57.04%. Use the drawdown chart below to compare losses from any high point for AGMI and NRJL.L.

Drawdown Indicators

	AGMI	NRJL.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.40%	-57.04%	+22.64%
Max Drawdown (1Y) Largest decline over 1 year	-34.40%	-10.45%	-23.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-39.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.04%	—
Current Drawdown Current decline from peak	-31.58%	-3.29%	-28.29%
Average Drawdown Average peak-to-trough decline	-9.78%	-28.42%	+18.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.51%	3.15%	+11.36%

Volatility

AGMI vs. NRJL.L - Volatility Comparison

Themes Silver Miners ETF (AGMI) has a higher volatility of 19.24% compared to Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L) at 9.76%. This indicates that AGMI's price experiences larger fluctuations and is considered to be riskier than NRJL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGMI	NRJL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.24%	9.76%	+9.48%
Volatility (6M) Calculated over the trailing 6-month period	44.02%	18.71%	+25.31%
Volatility (1Y) Calculated over the trailing 1-year period	51.85%	22.20%	+29.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.98%	24.34%	+20.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.98%	23.74%	+21.24%

AGMI vs. NRJL.L - Expense Ratio Comparison

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

Dividends

AGMI vs. NRJL.L - Dividend Comparison

AGMI's dividend yield for the trailing twelve months is around 4.67%, more than NRJL.L's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AGMI Themes Silver Miners ETF	4.67%	4.43%	1.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist	0.30%	0.42%	0.73%	0.77%	0.24%	0.32%	0.70%	1.02%	0.59%	0.79%

Frequently Asked Questions

Can I hold both AGMI and NRJL.L in my portfolio?

AGMI and NRJL.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AGMI or NRJL.L?

On fees, AGMI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AGMI or NRJL.L?

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

What is the main difference between AGMI and NRJL.L?

AGMI is categorized as Silver, while NRJL.L is Energy Equities. AGMI tracks STOXX Global Silver Mining Index, while NRJL.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: Themes and Amundi. Their fees differ too: 0.35% for AGMI and 0.60% for NRJL.L.