AUMI vs. IAUM

Last updated Apr 2, 2026

Compare and contrast key facts about Themes Gold Miners ETF (AUMI) and iShares Gold Trust Micro (IAUM).

AUMI and IAUM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AUMI is a passively managed fund by Themes that tracks the performance of the Solactive Global Pure Gold Miners Index. It was launched on Dec 12, 2023. IAUM is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Jun 15, 2021. Both AUMI and IAUM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

AUMI vs. IAUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Gold Miners ETF (AUMI) and iShares Gold Trust Micro (IAUM). The values are adjusted to include any dividend payments, if applicable.

AUMI vs. IAUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AUMI Themes Gold Miners ETF	10.53%	164.18%	30.61%	4.25%
IAUM iShares Gold Trust Micro	10.49%	64.27%	27.04%	1.98%

Returns By Period

The year-to-date returns for both stocks are quite close, with AUMI having a 10.53% return and IAUM slightly lower at 10.49%.

AUMI

• 1D: 5.17%
• 1M: -16.46%
• YTD: 10.53%
• 6M: 26.21%
• 1Y: 116.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAUM

• 1D: 1.71%
• 1M: -10.65%
• YTD: 10.49%
• 6M: 23.22%
• 1Y: 52.68%
• 3Y*: 34.12%
• 5Y*: —
• 10Y*: —

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

AUMI vs. IAUM - Expense Ratio Comparison

AUMI has a 0.35% expense ratio, which is higher than IAUM's 0.09% expense ratio.

AUMI

Themes Gold Miners ETF

IAUM

iShares Gold Trust Micro

Return for Risk

AUMI vs. IAUM — Risk / Return Rank

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

AUMI

AUMI Risk / Return Rank: 91
AUMI Sharpe Ratio Rank: 94
AUMI Sortino Ratio Rank: 89
AUMI Omega Ratio Rank: 87
AUMI Calmar Ratio Rank: 93
AUMI Martin Ratio Rank: 91

IAUM

IAUM Risk / Return Rank: 86
IAUM Sharpe Ratio Rank: 88
IAUM Sortino Ratio Rank: 85
IAUM Omega Ratio Rank: 85
IAUM Calmar Ratio Rank: 86
IAUM Martin Ratio Rank: 84

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. IAUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Gold Miners ETF (AUMI) and iShares Gold Trust Micro (IAUM). 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	IAUM	Difference
Sharpe ratio Return per unit of total volatility	2.35	1.92	+0.43
Sortino ratio Return per unit of downside risk	2.57	2.35	+0.22
Omega ratio Gain probability vs. loss probability	1.36	1.35	+0.01
Calmar ratio Return relative to maximum drawdown	3.66	2.74	+0.93
Martin ratio Return relative to average drawdown	12.93	10.02	+2.91
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. IAUM - Sharpe Ratio Comparison

The current AUMI Sharpe Ratio is 2.35, which is comparable to the IAUM Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of AUMI and IAUM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AUMI	IAUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	1.92	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	2.01	1.31	+0.70

Correlation

The correlation between AUMI and IAUM is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

AUMI vs. IAUM - Dividend Comparison

AUMI's dividend yield for the trailing twelve months is around 0.78%, while IAUM has not paid dividends to shareholders.

	TTM	2025	2024
AUMI Themes Gold Miners ETF	0.78%	0.86%	1.84%
IAUM iShares Gold Trust Micro	0.00%	0.00%	0.00%

Drawdowns

AUMI vs. IAUM - Drawdown Comparison

The maximum AUMI drawdown since its inception was -31.88%, which is greater than IAUM's maximum drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for AUMI and IAUM.

Drawdown Indicators

	AUMI	IAUM	Difference
Max Drawdown Largest peak-to-trough decline	-31.88%	-20.87%	-11.01%
Max Drawdown (1Y) Largest decline over 1 year	-31.88%	-19.15%	-12.73%
Current Drawdown Current decline from peak	-16.84%	-11.69%	-5.15%
Average Drawdown Average peak-to-trough decline	-6.00%	-4.99%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.03%	5.23%	+3.80%

Volatility

AUMI vs. IAUM - Volatility Comparison

Themes Gold Miners ETF (AUMI) has a higher volatility of 18.77% compared to iShares Gold Trust Micro (IAUM) at 10.38%. This indicates that AUMI's price experiences larger fluctuations and is considered to be riskier than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMI	IAUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.77%	10.38%	+8.39%
Volatility (6M) Calculated over the trailing 6-month period	40.65%	24.00%	+16.65%
Volatility (1Y) Calculated over the trailing 1-year period	49.65%	27.53%	+22.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.38%	17.79%	+23.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.38%	17.79%	+23.59%