AGMI vs. XSLE.DE
AGMI (Themes Silver Miners ETF) and XSLE.DE (Xtrackers IE Physical Silver (EUR Hedged) ETC Securities) are both Silver funds - AGMI tracks the STOXX Global Silver Mining Index while XSLE.DE tracks the LBMA Silver Price (EUR Hedged). Both are passively managed. Over the past year, AGMI returned 77.19% vs 48.53% for XSLE.DE. A 0.71 correlation means they provide meaningful diversification when combined. AGMI charges 0.35%/yr vs 0.73%/yr for XSLE.DE.
Performance
AGMI vs. XSLE.DE - Performance Comparison
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Different Trading Currencies
AGMI is traded in USD, while XSLE.DE is traded in EUR. To make them comparable, the XSLE.DE 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 higher than XSLE.DE's -28.28% return.
AGMI
- 1D
- -0.26%
- 1M
- -15.37%
- YTD
- -5.19%
- 6M
- -6.87%
- 1Y
- 77.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XSLE.DE
- 1D
- 0.00%
- 1M
- -25.65%
- YTD
- -28.28%
- 6M
- -28.28%
- 1Y
- 48.53%
- 3Y*
- 33.30%
- 5Y*
- 12.05%
- 10Y*
- —
AGMI vs. XSLE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AGMI Themes Silver Miners ETF | -5.19% | 176.11% | -0.74% |
XSLE.DE Xtrackers IE Physical Silver (EUR Hedged) ETC Securities | -28.28% | 181.42% | 5.27% |
Correlation
The correlation between AGMI and XSLE.DE is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since May 3, 2024 | 0.71 |
The correlation between AGMI and XSLE.DE has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.
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Return for Risk
AGMI vs. XSLE.DE — Risk / Return Rank
AGMI
XSLE.DE
AGMI vs. XSLE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Silver Miners ETF (AGMI) and Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE). 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 | XSLE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.19 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 0.92 | +1.34 |
| Martin ratioReturn relative to average drawdown | 5.34 | 2.04 | +3.30 |
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Drawdowns
AGMI vs. XSLE.DE - Drawdown Comparison
The maximum AGMI drawdown since its inception was -34.40%, smaller than the maximum XSLE.DE drawdown of -52.59%. Use the drawdown chart below to compare losses from any high point for AGMI and XSLE.DE.
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Drawdown Indicators
| AGMI | XSLE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.40% | -52.59% | +18.19% |
Max Drawdown (1Y)Largest decline over 1 year | -34.40% | -52.59% | +18.19% |
Max Drawdown (3Y)Largest decline over 3 years | — | -52.59% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -52.59% | — |
Current DrawdownCurrent decline from peak | -31.58% | -52.59% | +21.01% |
Average DrawdownAverage peak-to-trough decline | -9.78% | -21.89% | +12.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.51% | 23.77% | -9.26% |
Volatility
AGMI vs. XSLE.DE - Volatility Comparison
Themes Silver Miners ETF (AGMI) has a higher volatility of 19.24% compared to Xtrackers IE Physical Silver (EUR Hedged) ETC Securities (XSLE.DE) at 15.90%. This indicates that AGMI's price experiences larger fluctuations and is considered to be riskier than XSLE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGMI | XSLE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.24% | 15.90% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 44.02% | 56.65% | -12.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.85% | 60.21% | -8.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.98% | 38.50% | +6.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.98% | 38.36% | +6.62% |
AGMI vs. XSLE.DE - Expense Ratio Comparison
AGMI has a 0.35% expense ratio, which is lower than XSLE.DE's 0.73% expense ratio.
Dividends
AGMI vs. XSLE.DE - Dividend Comparison
AGMI's dividend yield for the trailing twelve months is around 4.67%, while XSLE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AGMI Themes Silver Miners ETF | 4.67% | 4.43% | 1.81% |
XSLE.DE Xtrackers IE Physical Silver (EUR Hedged) ETC Securities | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGMI and XSLE.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
AGMI is cheaper with a 0.35% expense ratio, compared with 0.73% for XSLE.DE.
AGMI tracks STOXX Global Silver Mining Index, while XSLE.DE tracks LBMA Silver Price (EUR Hedged). They also come from different issuers: Themes and Xtrackers. Their fees differ too: 0.35% for AGMI and 0.73% for XSLE.DE.
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