AGMI vs. USCF

Last updated Jun 4, 2026

AGMI (Themes Silver Miners ETF) and USCF (Themes US Cash Flow Champions ETF) are both exchange-traded funds - AGMI is a Silver fund tracking the STOXX Global Silver Mining Index, while USCF is a Large Cap Value Equities fund tracking the Solactive US Cash Flow Champions Index - Benchmark TR Gross. Both are passively managed. Over the past year, AGMI returned 112.77% vs 16.50% for USCF. At a 0.19 correlation, their price movements are largely independent. AGMI charges 0.35%/yr vs 0.29%/yr for USCF.

Performance

AGMI vs. USCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Silver Miners ETF (AGMI) and Themes US Cash Flow Champions ETF (USCF). 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 USCF's 3.99% return.

AGMI

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

USCF

• 1D: -0.16%
• 1M: 1.07%
• YTD: 3.99%
• 6M: 4.77%
• 1Y: 16.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AGMI vs. USCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGMI Themes Silver Miners ETF	7.60%	176.11%	-0.74%
USCF Themes US Cash Flow Champions ETF	3.99%	15.71%	10.41%

Correlation

The correlation between AGMI and USCF is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since May 6, 2024	0.19

AGMI vs. USCF - Sectors Allocation Comparison

Sectors	AGMI	USCF
Basic Materials	100.0%	1.7%
Technology	0.0%	9.7%
Communication Services	-	0.6%
Consumer Cyclical	-	2.7%
Consumer Defensive	-	3.4%
Energy	-	21.1%
Financial Services	-	43.1%
Healthcare	-	16.6%
Industrials	-	0.4%
Real Estate	-	0.1%
Utilities	-	-

Return for Risk

AGMI vs. USCF — 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

USCF

USCF Risk / Return Rank: 44
USCF Sharpe Ratio Rank: 36
USCF Sortino Ratio Rank: 34
USCF Omega Ratio Rank: 37
USCF Calmar Ratio Rank: 59
USCF Martin Ratio Rank: 52

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. USCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Silver Miners ETF (AGMI) and Themes US Cash Flow Champions ETF (USCF). 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	USCF	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.29	+1.02
Sortino ratio: Return per unit of downside risk	2.52	1.83	+0.69
Omega ratio: Gain probability vs. loss probability	1.35	1.24	+0.11
Calmar ratio: Return relative to maximum drawdown	3.41	2.88	+0.53
Martin ratio: Return relative to average drawdown	9.21	8.69	+0.52
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. USCF - Sharpe Ratio Comparison

The current AGMI Sharpe Ratio is 2.32, which is higher than the USCF Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of AGMI and USCF, 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	USCF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	1.29	+1.02
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	1.07	+0.49

Drawdowns

AGMI vs. USCF - Drawdown Comparison

The maximum AGMI drawdown since its inception was -33.26%, which is greater than USCF's maximum drawdown of -16.67%. Use the drawdown chart below to compare losses from any high point for AGMI and USCF.

Drawdown Indicators

	AGMI	USCF	Difference
Max Drawdown Largest peak-to-trough decline	-33.26%	-16.67%	-16.59%
Max Drawdown (1Y) Largest decline over 1 year	-33.26%	-5.75%	-27.51%
Current Drawdown Current decline from peak	-22.35%	-0.75%	-21.60%
Average Drawdown Average peak-to-trough decline	-9.14%	-2.23%	-6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.29%	1.90%	+10.39%

Volatility

AGMI vs. USCF - Volatility Comparison

Themes Silver Miners ETF (AGMI) has a higher volatility of 17.62% compared to Themes US Cash Flow Champions ETF (USCF) at 2.52%. This indicates that AGMI's price experiences larger fluctuations and is considered to be riskier than USCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGMI	USCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.62%	2.52%	+15.10%
Volatility (6M) Calculated over the trailing 6-month period	40.98%	10.07%	+30.91%
Volatility (1Y) Calculated over the trailing 1-year period	48.95%	12.82%	+36.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.04%	15.16%	+28.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.04%	15.16%	+28.88%

AGMI vs. USCF - Expense Ratio Comparison

AGMI has a 0.35% expense ratio, which is higher than USCF's 0.29% expense ratio.

Dividends

AGMI vs. USCF - Dividend Comparison

AGMI's dividend yield for the trailing twelve months is around 4.12%, more than USCF's 1.77% yield.

Position	TTM	2025	2024
AGMI Themes Silver Miners ETF	4.12%	4.43%	1.81%
USCF Themes US Cash Flow Champions ETF	1.77%	1.84%	1.19%

Frequently Asked Questions

Can I hold both AGMI and USCF in my portfolio?

AGMI and USCF have a correlation of 0.17, 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 USCF?

AGMI has higher volatility (17.62%) compared to USCF (2.52%). In terms of maximum drawdown, AGMI dropped -33.26% vs USCF's -16.67%.

Which ETF is better, AGMI or USCF?

On 1-year performance, AGMI leads with 112.77% vs 16.50% for USCF. On fees, USCF is cheaper at 0.29% per year. On volatility, USCF has been the lower-risk option at 2.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGMI or USCF?

Over the 1-year period, AGMI has performed better with a 112.77% return vs 16.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGMI or USCF?

USCF is cheaper with a 0.29% expense ratio, compared with 0.35% for AGMI.

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

AGMI has the higher dividend yield at 4.12%, compared with 1.77% for USCF.

What is the main difference between AGMI and USCF?

AGMI is categorized as Silver, while USCF is Large Cap Value Equities. AGMI tracks STOXX Global Silver Mining Index, while USCF tracks Solactive US Cash Flow Champions Index - Benchmark TR Gross. Their fees differ too: 0.35% for AGMI and 0.29% for USCF.

Which has better risk-adjusted returns?

AGMI currently has the higher Sharpe Ratio (2.32 vs 1.29), 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.