AUMI vs. AEM

Last updated Jun 4, 2026

AUMI (Themes Gold Miners ETF) is Gold fund tracking the Solactive Global Pure Gold Miners Index, while AEM (Agnico Eagle Mines Limited) is a stock. Over the past year, AUMI returned 48.97% vs 41.42% for AEM. Their correlation of 0.85 suggests significant overlap in exposure.

Performance

AUMI vs. AEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Gold Miners ETF (AUMI) and Agnico Eagle Mines Limited (AEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUMI achieves a -5.96% return, which is significantly lower than AEM's 1.68% return.

AUMI

• 1D: -2.93%
• 1M: -3.79%
• YTD: -5.96%
• 6M: -0.21%
• 1Y: 48.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AEM

• 1D: -4.07%
• 1M: -4.37%
• YTD: 1.68%
• 6M: 1.89%
• 1Y: 41.42%
• 3Y*: 51.78%
• 5Y*: 22.28%
• 10Y*: 15.27%

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

AUMI vs. AEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AUMI Themes Gold Miners ETF	-5.96%	164.18%	30.61%	4.25%
AEM Agnico Eagle Mines Limited	1.68%	119.53%	46.04%	2.41%

Correlation

The correlation between AUMI and AEM is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023	0.85

The correlation between AUMI and AEM has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

Return for Risk

AUMI vs. AEM — Risk / Return Rank

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

AUMI

AUMI Risk / Return Rank: 28
AUMI Sharpe Ratio Rank: 28
AUMI Sortino Ratio Rank: 27
AUMI Omega Ratio Rank: 29
AUMI Calmar Ratio Rank: 31
AUMI Martin Ratio Rank: 28

AEM

AEM Risk / Return Rank: 66
AEM Sharpe Ratio Rank: 70
AEM Sortino Ratio Rank: 63
AEM Omega Ratio Rank: 63
AEM Calmar Ratio Rank: 66
AEM Martin Ratio Rank: 67

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.

AUMI vs. AEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Gold Miners ETF (AUMI) and Agnico Eagle Mines Limited (AEM). 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.

	AUMI	AEM	Difference
Sharpe ratio Return per unit of total volatility	1.03	0.97	+0.06
Sortino ratio Return per unit of downside risk	1.48	1.41	+0.08
Omega ratio Gain probability vs. loss probability	1.20	1.19	+0.01
Calmar ratio Return relative to maximum drawdown	1.54	1.31	+0.23
Martin ratio Return relative to average drawdown	3.94	3.29	+0.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUMI vs. AEM - Sharpe Ratio Comparison

The current AUMI Sharpe Ratio is 1.03, which is comparable to the AEM Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of AUMI and AEM, 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

	AUMI	AEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	0.97	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	0.17	+1.38

Drawdowns

AUMI vs. AEM - Drawdown Comparison

The maximum AUMI drawdown since its inception was -31.88%, smaller than the maximum AEM drawdown of -90.49%. Use the drawdown chart below to compare losses from any high point for AUMI and AEM.

Drawdown Indicators

	AUMI	AEM	Difference
Max Drawdown Largest peak-to-trough decline	-31.88%	-90.49%	+58.61%
Max Drawdown (1Y) Largest decline over 1 year	-31.88%	-31.77%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-31.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.22%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-53.86%	—
Current Drawdown Current decline from peak	-29.25%	-31.77%	+2.52%
Average Drawdown Average peak-to-trough decline	-7.06%	-46.66%	+39.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.46%	12.61%	-0.15%

Volatility

AUMI vs. AEM - Volatility Comparison

Themes Gold Miners ETF (AUMI) has a higher volatility of 14.46% compared to Agnico Eagle Mines Limited (AEM) at 13.70%. This indicates that AUMI's price experiences larger fluctuations and is considered to be riskier than AEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMI	AEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.46%	13.70%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	38.54%	34.59%	+3.95%
Volatility (1Y) Calculated over the trailing 1-year period	47.95%	43.02%	+4.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.57%	36.80%	+4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.57%	37.22%	+4.35%

Dividends

AUMI vs. AEM - Dividend Comparison

AUMI's dividend yield for the trailing twelve months is around 0.92%, less than AEM's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEM Agnico Eagle Mines Limited	0.99%	0.94%	2.05%	2.92%	3.08%	2.63%	2.36%	0.89%	1.09%	0.89%	0.86%	1.22%
AUMI Themes Gold Miners ETF	0.92%	0.86%	1.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AUMI and AEM in my portfolio?

AUMI and AEM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AUMI or AEM?

AUMI has higher volatility (14.46%) compared to AEM (13.70%). In terms of maximum drawdown, AUMI dropped -31.88% vs AEM's -90.49%.

Which has better risk-adjusted returns?

AUMI currently has the higher Sharpe Ratio (1.03 vs 0.97), 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.