AUMI vs. GOEX

Last updated Jun 4, 2026

AUMI (Themes Gold Miners ETF) and GOEX (Global X Gold Explorers ETF) are both exchange-traded funds - AUMI is a Gold fund tracking the Solactive Global Pure Gold Miners Index, while GOEX is a Materials fund tracking the Solactive Global Gold Explorers & Developers Total Return. Both are passively managed. Over the past year, AUMI returned 48.97% vs 64.25% for GOEX. Their correlation of 0.93 suggests significant overlap in exposure. AUMI charges 0.35%/yr vs 0.65%/yr for GOEX.

Performance

AUMI vs. GOEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Gold Miners ETF (AUMI) and Global X Gold Explorers ETF (GOEX). 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 GOEX's -5.02% return.

AUMI

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

GOEX

• 1D: -4.11%
• 1M: -3.45%
• YTD: -5.02%
• 6M: 2.89%
• 1Y: 64.25%
• 3Y*: 46.31%
• 5Y*: 18.83%
• 10Y*: 13.99%

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

AUMI vs. GOEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AUMI Themes Gold Miners ETF	-5.96%	164.18%	30.61%	4.25%
GOEX Global X Gold Explorers ETF	-5.02%	179.50%	19.38%	1.57%

Correlation

The correlation between AUMI and GOEX is 0.95, 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	0.95
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023	0.93

The correlation between AUMI and GOEX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

AUMI vs. GOEX - Sectors Allocation Comparison

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

Return for Risk

AUMI vs. GOEX — 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

GOEX

GOEX Risk / Return Rank: 35
GOEX Sharpe Ratio Rank: 36
GOEX Sortino Ratio Rank: 32
GOEX Omega Ratio Rank: 35
GOEX Calmar Ratio Rank: 39
GOEX Martin Ratio Rank: 32

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. GOEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Gold Miners ETF (AUMI) and Global X Gold Explorers ETF (GOEX). 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	GOEX	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.31	-0.29
Sortino ratio: Return per unit of downside risk	1.48	1.74	-0.26
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.54	1.97	-0.43
Martin ratio: Return relative to average drawdown	3.94	4.94	-1.00
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. GOEX - Sharpe Ratio Comparison

The current AUMI Sharpe Ratio is 1.03, which is comparable to the GOEX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of AUMI and GOEX, 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	GOEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	1.31	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	0.02	+1.53

Drawdowns

AUMI vs. GOEX - Drawdown Comparison

The maximum AUMI drawdown since its inception was -31.88%, smaller than the maximum GOEX drawdown of -88.83%. Use the drawdown chart below to compare losses from any high point for AUMI and GOEX.

Drawdown Indicators

	AUMI	GOEX	Difference
Max Drawdown Largest peak-to-trough decline	-31.88%	-88.83%	+56.95%
Max Drawdown (1Y) Largest decline over 1 year	-31.88%	-32.78%	+0.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-32.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-47.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-53.66%	—
Current Drawdown Current decline from peak	-29.25%	-29.90%	+0.65%
Average Drawdown Average peak-to-trough decline	-7.06%	-63.59%	+56.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.46%	13.04%	-0.58%

Volatility

AUMI vs. GOEX - Volatility Comparison

Themes Gold Miners ETF (AUMI) and Global X Gold Explorers ETF (GOEX) have volatilities of 14.46% and 14.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMI	GOEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.46%	14.62%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	38.54%	39.87%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	47.95%	49.13%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.57%	39.00%	+2.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.57%	39.97%	+1.60%

AUMI vs. GOEX - Expense Ratio Comparison

AUMI has a 0.35% expense ratio, which is lower than GOEX's 0.65% expense ratio.

Dividends

AUMI vs. GOEX - Dividend Comparison

AUMI's dividend yield for the trailing twelve months is around 0.92%, less than GOEX's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GOEX Global X Gold Explorers ETF	2.19%	2.08%	2.46%	0.05%	1.04%	2.35%	2.62%	1.60%	0.00%	0.00%	38.91%	11.70%

Frequently Asked Questions

Can I hold both AUMI and GOEX in my portfolio?

With a correlation of 0.95, AUMI and GOEX 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 GOEX?

GOEX has higher volatility (14.62%) compared to AUMI (14.46%). In terms of maximum drawdown, AUMI dropped -31.88% vs GOEX's -88.83%.

Which ETF is better, AUMI or GOEX?

On 1-year performance, GOEX leads with 64.25% vs 48.97% for AUMI. On fees, AUMI is cheaper at 0.35% per year. 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 GOEX?

Over the 1-year period, GOEX has performed better with a 64.25% 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 GOEX?

AUMI is cheaper with a 0.35% expense ratio, compared with 0.65% for GOEX.

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

GOEX has the higher dividend yield at 2.19%, compared with 0.92% for AUMI.

What is the main difference between AUMI and GOEX?

AUMI is categorized as Gold, while GOEX is Materials. AUMI tracks Solactive Global Pure Gold Miners Index, while GOEX tracks Solactive Global Gold Explorers & Developers Total Return. They also come from different issuers: Themes and Global X. Their fees differ too: 0.35% for AUMI and 0.65% for GOEX.

Which has better risk-adjusted returns?

GOEX currently has the higher Sharpe Ratio (1.31 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.