AUMI vs. EMDM

Last updated Jun 13, 2026

AUMI (Themes Gold Miners ETF) and EMDM (First Trust Bloomberg Emerging Market Democracies ETF) are both exchange-traded funds - AUMI is a Gold fund tracking the Solactive Global Pure Gold Miners Index, while EMDM is a Emerging Markets Diversified fund tracking the Bloomberg Emerging Market Democracies Index - Benchmark TR Net. Both are passively managed. Over the past year, AUMI returned 38.17% vs 83.08% for EMDM. At a 0.50 correlation, their price movements are largely independent. AUMI charges 0.35%/yr vs 0.75%/yr for EMDM.

Performance

AUMI vs. EMDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Gold Miners ETF (AUMI) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUMI achieves a -11.62% return, which is significantly lower than EMDM's 36.28% return.

AUMI

• 1D: 2.52%
• 1M: -17.27%
• YTD: -11.62%
• 6M: -9.97%
• 1Y: 38.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMDM

• 1D: 0.70%
• 1M: 2.00%
• YTD: 36.28%
• 6M: 42.03%
• 1Y: 83.08%
• 3Y*: 30.34%
• 5Y*: —
• 10Y*: —

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

AUMI vs. EMDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AUMI Themes Gold Miners ETF	-11.62%	164.18%	30.61%	10.23%
EMDM First Trust Bloomberg Emerging Market Democracies ETF	36.28%	59.68%	-4.93%	6.53%

Correlation

The correlation between AUMI and EMDM is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023	0.50

The correlation between AUMI and EMDM has been stable across timeframes, ranging from 0.50 to 0.53 - a consistent structural relationship.

AUMI vs. EMDM - Sectors Allocation Comparison

Sectors	AUMI	EMDM
Basic Materials	99.4%	15.1%
Communication Services	0.1%	4.3%
Consumer Cyclical	-	6.0%
Consumer Defensive	-	3.4%
Energy	-	6.3%
Financial Services	-	27.2%
Healthcare	-	0.5%
Industrials	-	3.3%
Real Estate	-	-
Technology	-	32.1%
Utilities	-	1.9%

Return for Risk

AUMI vs. EMDM — Risk / Return Rank

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

AUMI

AUMI Risk / Return Rank: 25
AUMI Sharpe Ratio Rank: 25
AUMI Sortino Ratio Rank: 25
AUMI Omega Ratio Rank: 28
AUMI Calmar Ratio Rank: 24
AUMI Martin Ratio Rank: 24

EMDM

EMDM Risk / Return Rank: 92
EMDM Sharpe Ratio Rank: 94
EMDM Sortino Ratio Rank: 91
EMDM Omega Ratio Rank: 92
EMDM Calmar Ratio Rank: 91
EMDM Martin Ratio Rank: 92

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. EMDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Gold Miners ETF (AUMI) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). 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.

	AUMI	EMDM	Difference
Sharpe ratio: Return per unit of total volatility	0.78	3.21	-2.43
Sortino ratio: Return per unit of downside risk	1.24	3.78	-2.54
Omega ratio: Gain probability vs. loss probability	1.17	1.55	-0.38
Calmar ratio: Return relative to maximum drawdown	0.98	5.18	-4.19
Martin ratio: Return relative to average drawdown	2.81	20.59	-17.79

AUMI vs. EMDM - Sharpe Ratio Comparison

The current AUMI Sharpe Ratio is 0.78, which is lower than the EMDM Sharpe Ratio of 3.21. The chart below compares the historical Sharpe Ratios of AUMI and EMDM, 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

AUMI vs. EMDM - Drawdown Comparison

The maximum AUMI drawdown since its inception was -39.28%, which is greater than EMDM's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for AUMI and EMDM.

Drawdown Indicators

	AUMI	EMDM	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-18.81%	-20.47%
Max Drawdown (1Y) Largest decline over 1 year	-39.28%	-15.65%	-23.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.81%	—
Current Drawdown Current decline from peak	-33.51%	-3.27%	-30.24%
Average Drawdown Average peak-to-trough decline	-7.35%	-4.08%	-3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.72%	3.93%	+9.79%

Volatility

AUMI vs. EMDM - Volatility Comparison

Themes Gold Miners ETF (AUMI) has a higher volatility of 17.47% compared to First Trust Bloomberg Emerging Market Democracies ETF (EMDM) at 12.16%. This indicates that AUMI's price experiences larger fluctuations and is considered to be riskier than EMDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMI	EMDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.47%	12.16%	+5.31%
Volatility (6M) Calculated over the trailing 6-month period	40.45%	22.86%	+17.59%
Volatility (1Y) Calculated over the trailing 1-year period	49.48%	25.23%	+24.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.24%	20.36%	+21.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.24%	20.36%	+21.88%

AUMI vs. EMDM - Expense Ratio Comparison

AUMI has a 0.35% expense ratio, which is lower than EMDM's 0.75% expense ratio.

Dividends

AUMI vs. EMDM - Dividend Comparison

AUMI's dividend yield for the trailing twelve months is around 0.98%, less than EMDM's 2.62% yield.

Position	TTM	2025	2024	2023
AUMI Themes Gold Miners ETF	0.98%	0.86%	1.84%	0.00%
EMDM First Trust Bloomberg Emerging Market Democracies ETF	2.62%	3.57%	5.87%	2.16%

Frequently Asked Questions

Can I hold both AUMI and EMDM in my portfolio?

AUMI and EMDM have a correlation of 0.53, 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 EMDM?

AUMI has higher volatility (17.47%) compared to EMDM (12.16%). In terms of maximum drawdown, AUMI dropped -39.28% vs EMDM's -18.81%.

Which ETF is better, AUMI or EMDM?

On 1-year performance, EMDM leads with 83.08% vs 38.17% for AUMI. On fees, AUMI is cheaper at 0.35% per year. On volatility, EMDM has been the lower-risk option at 12.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUMI or EMDM?

Over the 1-year period, EMDM has performed better with a 83.08% return vs 38.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUMI or EMDM?

AUMI is cheaper with a 0.35% expense ratio, compared with 0.75% for EMDM.

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

EMDM has the higher dividend yield at 2.62%, compared with 0.98% for AUMI.

What is the main difference between AUMI and EMDM?

AUMI is categorized as Gold, while EMDM is Emerging Markets Diversified. AUMI tracks Solactive Global Pure Gold Miners Index, while EMDM tracks Bloomberg Emerging Market Democracies Index - Benchmark TR Net. They also come from different issuers: Themes and First Trust. Their fees differ too: 0.35% for AUMI and 0.75% for EMDM.

Which has better risk-adjusted returns?

EMDM currently has the higher Sharpe Ratio (3.21 vs 0.78), 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.