AGMI vs. PL

Last updated Jul 21, 2026

AGMI (Themes Silver Miners ETF) is Silver fund tracking the STOXX Global Silver Mining Index, while PL (Planet Labs PBC) is a stock. Over the past year, AGMI returned 69.37% vs 226.22% for PL. At a 0.28 correlation, their price movements are largely independent.

Performance

AGMI vs. PL - Performance Comparison

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

Returns By Period

In the year-to-date period, AGMI achieves a -10.56% return, which is significantly lower than PL's 12.32% return.

AGMI

• 1D: 0.02%
• 1M: -13.24%
• 6M: -23.28%
• YTD: -10.56%
• 1Y: 69.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 49.98%

PL

• 1D: -1.42%
• 1M: -21.54%
• 6M: -23.04%
• YTD: 12.32%
• 1Y: 226.22%
• 3Y*: 87.88%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.82%

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

AGMI vs. PL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGMI Themes Silver Miners ETF	-10.56%	176.11%	-0.74%
PL Planet Labs PBC	12.32%	388.12%	121.98%

Correlation

The correlation between AGMI and PL is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since May 3, 2024	0.28

Return for Risk

AGMI vs. PL — Risk / Return Rank

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

AGMI

AGMI Risk / Return Rank: 46
AGMI Sharpe Ratio Rank: 51
AGMI Sortino Ratio Rank: 45
AGMI Omega Ratio Rank: 48
AGMI Calmar Ratio Rank: 51
AGMI Martin Ratio Rank: 37

PL

PL Risk / Return Rank: 92
PL Sharpe Ratio Rank: 93
PL Sortino Ratio Rank: 92
PL Omega Ratio Rank: 91
PL Calmar Ratio Rank: 92
PL 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.

AGMI vs. PL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Silver Miners ETF (AGMI) and Planet Labs PBC (PL). 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	PL	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.19	-0.86
Sortino ratio: Return per unit of downside risk	1.75	3.00	-1.25
Omega ratio: Gain probability vs. loss probability	1.23	1.38	-0.15
Calmar ratio: Return relative to maximum drawdown	1.95	3.99	-2.04
Martin ratio: Return relative to average drawdown	4.27	11.81	-7.55

AGMI vs. PL - Sharpe Ratio Comparison

The current AGMI Sharpe Ratio is 1.33, which is lower than the PL Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of AGMI and PL, 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. PL - Drawdown Comparison

The maximum AGMI drawdown since its inception was -35.67%, smaller than the maximum PL drawdown of -85.11%. Use the drawdown chart below to compare losses from any high point for AGMI and PL.

Drawdown Indicators

	AGMI	PL	Difference
Max Drawdown Largest peak-to-trough decline	-35.67%	-85.11%	+49.44%
Max Drawdown (1Y) Largest decline over 1 year	-35.67%	-57.02%	+21.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-57.02%	—
Current Drawdown Current decline from peak	-35.46%	-56.91%	+21.45%
Average Drawdown Average peak-to-trough decline	-10.32%	-55.19%	+44.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.31%	19.24%	-2.93%

Volatility

AGMI vs. PL - Volatility Comparison

The current volatility for Themes Silver Miners ETF (AGMI) is 12.34%, while Planet Labs PBC (PL) has a volatility of 24.26%. This indicates that AGMI experiences smaller price fluctuations and is considered to be less risky than PL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGMI	PL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.34%	24.26%	-11.92%
Volatility (6M) Calculated over the trailing 6-month period	43.52%	73.92%	-30.40%
Volatility (1Y) Calculated over the trailing 1-year period	52.49%	104.22%	-51.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.89%	84.87%	-39.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.89%	84.87%	-39.98%

Dividends

AGMI vs. PL - Dividend Comparison

AGMI's dividend yield for the trailing twelve months is around 4.95%, while PL has not paid dividends to shareholders.

Position	TTM	2025	2024
AGMI Themes Silver Miners ETF	4.95%	4.43%	1.81%
PL Planet Labs PBC	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGMI and PL in my portfolio?

AGMI and PL have a correlation of 0.28, 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 PL?

PL has higher volatility (24.26%) compared to AGMI (12.34%). In terms of maximum drawdown, AGMI dropped -35.67% vs PL's -85.11%.

Which has better risk-adjusted returns?

PL currently has the higher Sharpe Ratio (2.19 vs 1.33), 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.