AUMI vs. GBUG

Last updated Jun 5, 2026

AUMI (Themes Gold Miners ETF) and GBUG (Sprott Active Gold & Silver Miners ETF) are both Gold funds. AUMI is passively managed, while GBUG is actively managed. Over the past year, AUMI returned 49.68% vs 63.04% for GBUG. With a 0.95 correlation, they move nearly in lockstep. AUMI charges 0.35%/yr vs 0.89%/yr for GBUG.

Performance

AUMI vs. GBUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Gold Miners ETF (AUMI) and Sprott Active Gold & Silver Miners ETF (GBUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUMI achieves a -4.89% return, which is significantly lower than GBUG's -1.44% return.

AUMI

• 1D: 1.14%
• 1M: -3.49%
• YTD: -4.89%
• 6M: 0.78%
• 1Y: 49.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GBUG

• 1D: 1.17%
• 1M: 0.96%
• YTD: -1.44%
• 6M: 7.57%
• 1Y: 63.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUMI vs. GBUG - Yearly Performance Comparison

	2026 (YTD)	2025
AUMI Themes Gold Miners ETF	-4.89%	111.19%
GBUG Sprott Active Gold & Silver Miners ETF	-1.44%	119.00%

Correlation

The correlation between AUMI and GBUG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.95

The correlation between AUMI and GBUG has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

AUMI vs. GBUG — Risk / Return Rank

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

AUMI

AUMI Risk / Return Rank: 30
AUMI Sharpe Ratio Rank: 30
AUMI Sortino Ratio Rank: 28
AUMI Omega Ratio Rank: 31
AUMI Calmar Ratio Rank: 33
AUMI Martin Ratio Rank: 28

GBUG

GBUG Risk / Return Rank: 37
GBUG Sharpe Ratio Rank: 38
GBUG Sortino Ratio Rank: 33
GBUG Omega Ratio Rank: 38
GBUG Calmar Ratio Rank: 41
GBUG Martin Ratio Rank: 34

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. GBUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Gold Miners ETF (AUMI) and Sprott Active Gold & Silver Miners ETF (GBUG). 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	GBUG	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.33	-0.29
Sortino ratio: Return per unit of downside risk	1.50	1.74	-0.24
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.57	1.97	-0.41
Martin ratio: Return relative to average drawdown	3.96	5.05	-1.09
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. GBUG - Sharpe Ratio Comparison

The current AUMI Sharpe Ratio is 1.04, which is comparable to the GBUG Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of AUMI and GBUG, 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	GBUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	1.33	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	1.57	1.74	-0.18

Drawdowns

AUMI vs. GBUG - Drawdown Comparison

The maximum AUMI drawdown since its inception was -31.88%, roughly equal to the maximum GBUG drawdown of -32.10%. Use the drawdown chart below to compare losses from any high point for AUMI and GBUG.

Drawdown Indicators

	AUMI	GBUG	Difference
Max Drawdown Largest peak-to-trough decline	-31.88%	-32.10%	+0.22%
Max Drawdown (1Y) Largest decline over 1 year	-31.88%	-32.10%	+0.22%
Current Drawdown Current decline from peak	-28.44%	-25.98%	-2.46%
Average Drawdown Average peak-to-trough decline	-7.09%	-7.68%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.59%	12.52%	+0.07%

Volatility

AUMI vs. GBUG - Volatility Comparison

The current volatility for Themes Gold Miners ETF (AUMI) is 14.48%, while Sprott Active Gold & Silver Miners ETF (GBUG) has a volatility of 15.44%. This indicates that AUMI experiences smaller price fluctuations and is considered to be less risky than GBUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMI	GBUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.48%	15.44%	-0.96%
Volatility (6M) Calculated over the trailing 6-month period	38.52%	39.41%	-0.89%
Volatility (1Y) Calculated over the trailing 1-year period	47.95%	47.62%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.54%	47.31%	-5.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.54%	47.31%	-5.77%

AUMI vs. GBUG - Expense Ratio Comparison

AUMI has a 0.35% expense ratio, which is lower than GBUG's 0.89% expense ratio.

Dividends

AUMI vs. GBUG - Dividend Comparison

AUMI's dividend yield for the trailing twelve months is around 0.91%, less than GBUG's 1.58% yield.

Position	TTM	2025	2024
AUMI Themes Gold Miners ETF	0.91%	0.86%	1.84%
GBUG Sprott Active Gold & Silver Miners ETF	1.58%	1.56%	0.00%

Frequently Asked Questions

Can I hold both AUMI and GBUG in my portfolio?

With a correlation of 0.97, AUMI and GBUG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AUMI or GBUG?

GBUG has higher volatility (15.44%) compared to AUMI (14.48%). In terms of maximum drawdown, AUMI dropped -31.88% vs GBUG's -32.10%.

Which ETF is better, AUMI or GBUG?

On 1-year performance, GBUG leads with 63.04% vs 49.68% for AUMI. On fees, AUMI is cheaper at 0.35% per year. On volatility, AUMI has been the lower-risk option at 14.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUMI or GBUG?

Over the 1-year period, GBUG has performed better with a 63.04% return vs 49.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUMI or GBUG?

AUMI is cheaper with a 0.35% expense ratio, compared with 0.89% for GBUG.

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

GBUG has the higher dividend yield at 1.58%, compared with 0.91% for AUMI.

What is the main difference between AUMI and GBUG?

They also come from different issuers: Themes and Sprott. Their fees differ too: 0.35% for AUMI and 0.89% for GBUG.

Which has better risk-adjusted returns?

GBUG currently has the higher Sharpe Ratio (1.33 vs 1.04), 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.