AUMI vs. AGMI

Last updated Jun 4, 2026

AUMI (Themes Gold Miners ETF) and AGMI (Themes Silver Miners ETF) are both exchange-traded funds - AUMI is a Gold fund tracking the Solactive Global Pure Gold Miners Index, while AGMI is a Silver fund tracking the STOXX Global Silver Mining Index. Both are passively managed. Over the past year, AUMI returned 48.97% vs 112.77% for AGMI. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

AUMI vs. AGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Gold Miners ETF (AUMI) and Themes Silver Miners ETF (AGMI). 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 AGMI's 7.60% return.

AUMI

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

AGMI

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

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

AUMI vs. AGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AUMI Themes Gold Miners ETF	-5.96%	164.18%	17.83%
AGMI Themes Silver Miners ETF	7.60%	176.11%	-0.74%

Correlation

The correlation between AUMI and AGMI is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since May 6, 2024	0.84

The correlation between AUMI and AGMI has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

AUMI vs. AGMI - Sectors Allocation Comparison

Sectors	AUMI	AGMI
Basic Materials	99.5%	100.0%
Communication Services	0.2%	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	0.0%
Utilities	-	-

Return for Risk

AUMI vs. AGMI — 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

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

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. AGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Gold Miners ETF (AUMI) and Themes Silver Miners ETF (AGMI). 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	AGMI	Difference
Sharpe ratio Return per unit of total volatility	1.03	2.32	-1.29
Sortino ratio Return per unit of downside risk	1.48	2.52	-1.04
Omega ratio Gain probability vs. loss probability	1.20	1.35	-0.15
Calmar ratio Return relative to maximum drawdown	1.54	3.41	-1.87
Martin ratio Return relative to average drawdown	3.94	9.21	-5.27
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. AGMI - Sharpe Ratio Comparison

The current AUMI Sharpe Ratio is 1.03, which is lower than the AGMI Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of AUMI and AGMI, 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	AGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	2.32	-1.29
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	1.56	-0.01

Drawdowns

AUMI vs. AGMI - Drawdown Comparison

The maximum AUMI drawdown since its inception was -31.88%, roughly equal to the maximum AGMI drawdown of -33.26%. Use the drawdown chart below to compare losses from any high point for AUMI and AGMI.

Drawdown Indicators

	AUMI	AGMI	Difference
Max Drawdown Largest peak-to-trough decline	-31.88%	-33.26%	+1.38%
Max Drawdown (1Y) Largest decline over 1 year	-31.88%	-33.26%	+1.38%
Current Drawdown Current decline from peak	-29.25%	-22.35%	-6.90%
Average Drawdown Average peak-to-trough decline	-7.06%	-9.14%	+2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.46%	12.29%	+0.17%

Volatility

AUMI vs. AGMI - Volatility Comparison

The current volatility for Themes Gold Miners ETF (AUMI) is 14.46%, while Themes Silver Miners ETF (AGMI) has a volatility of 17.62%. This indicates that AUMI experiences smaller price fluctuations and is considered to be less risky than AGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMI	AGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.46%	17.62%	-3.16%
Volatility (6M) Calculated over the trailing 6-month period	38.54%	40.98%	-2.44%
Volatility (1Y) Calculated over the trailing 1-year period	47.95%	48.95%	-1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.57%	44.04%	-2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.57%	44.04%	-2.47%

AUMI vs. AGMI - Expense Ratio Comparison

Both AUMI and AGMI have an expense ratio of 0.35%.

Dividends

AUMI vs. AGMI - Dividend Comparison

AUMI's dividend yield for the trailing twelve months is around 0.92%, less than AGMI's 4.12% yield.

Position	TTM	2025	2024
AGMI Themes Silver Miners ETF	4.12%	4.43%	1.81%
AUMI Themes Gold Miners ETF	0.92%	0.86%	1.84%

Frequently Asked Questions

Can I hold both AUMI and AGMI in my portfolio?

AUMI and AGMI have a correlation of 0.89, 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 AGMI?

AGMI has higher volatility (17.62%) compared to AUMI (14.46%). In terms of maximum drawdown, AUMI dropped -31.88% vs AGMI's -33.26%.

Which ETF is better, AUMI or AGMI?

On 1-year performance, AGMI leads with 112.77% vs 48.97% for AUMI. Both ETFs have the same 0.35% expense ratio. On volatility, AUMI has been the lower-risk option at 14.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUMI or AGMI?

Over the 1-year period, AGMI has performed better with a 112.77% return vs 48.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUMI or AGMI?

AUMI and AGMI have the same expense ratio: 0.35% per year.

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

AGMI has the higher dividend yield at 4.12%, compared with 0.92% for AUMI.

What is the main difference between AUMI and AGMI?

AUMI is categorized as Gold, while AGMI is Silver. AUMI tracks Solactive Global Pure Gold Miners Index, while AGMI tracks STOXX Global Silver Mining Index.

Which has better risk-adjusted returns?

AGMI currently has the higher Sharpe Ratio (2.32 vs 1.03), 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.