AUMI vs. RING

Last updated Jun 23, 2026

AUMI (Themes Gold Miners ETF) and RING (iShares MSCI Global Gold Miners ETF) are both Gold funds - AUMI tracks the Solactive Global Pure Gold Miners Index while RING tracks the MSCI ACWI Select Gold Miners Investable Market Index. Both are passively managed. Over the past year, AUMI returned 48.46% vs 61.98% for RING. Their correlation of 0.92 suggests significant overlap in exposure. AUMI charges 0.35%/yr vs 0.39%/yr for RING.

Performance

AUMI vs. RING - Performance Comparison

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

Returns By Period

In the year-to-date period, AUMI achieves a -9.28% return, which is significantly lower than RING's -4.18% return.

AUMI

• 1D: -0.42%
• 1M: -4.54%
• YTD: -9.28%
• 6M: -13.78%
• 1Y: 48.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RING

• 1D: -1.85%
• 1M: -4.93%
• YTD: -4.18%
• 6M: -8.91%
• 1Y: 61.98%
• 3Y*: 47.05%
• 5Y*: 21.96%
• 10Y*: 13.45%

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

AUMI vs. RING - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AUMI Themes Gold Miners ETF	-9.28%	164.18%	30.61%	10.23%
RING iShares MSCI Global Gold Miners ETF	-4.18%	164.72%	15.98%	9.55%

Correlation

The correlation between AUMI and RING is 0.96 - 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	0.96
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023	0.92

The correlation between AUMI and RING has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

AUMI vs. RING - Sectors Allocation Comparison

Sectors	AUMI	RING
Basic Materials	99.3%	99.7%
Communication Services	0.2%	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

AUMI vs. RING — Risk / Return Rank

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

AUMI

AUMI Risk / Return Rank: 27
AUMI Sharpe Ratio Rank: 28
AUMI Sortino Ratio Rank: 27
AUMI Omega Ratio Rank: 29
AUMI Calmar Ratio Rank: 26
AUMI Martin Ratio Rank: 26

RING

RING Risk / Return Rank: 35
RING Sharpe Ratio Rank: 37
RING Sortino Ratio Rank: 33
RING Omega Ratio Rank: 37
RING Calmar Ratio Rank: 36
RING Martin Ratio Rank: 33

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. RING - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Gold Miners ETF (AUMI) and iShares MSCI Global Gold Miners ETF (RING). 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	RING	Difference
Sharpe ratio: Return per unit of total volatility	0.98	1.30	-0.33
Sortino ratio: Return per unit of downside risk	1.44	1.71	-0.27
Omega ratio: Gain probability vs. loss probability	1.19	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.24	1.74	-0.50
Martin ratio: Return relative to average drawdown	3.44	4.69	-1.25

AUMI vs. RING - Sharpe Ratio Comparison

The current AUMI Sharpe Ratio is 0.98, which is comparable to the RING Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of AUMI and RING, 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. RING - Drawdown Comparison

The maximum AUMI drawdown since its inception was -39.28%, smaller than the maximum RING drawdown of -79.47%. Use the drawdown chart below to compare losses from any high point for AUMI and RING.

Drawdown Indicators

	AUMI	RING	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-79.47%	+40.19%
Max Drawdown (1Y) Largest decline over 1 year	-39.28%	-35.72%	-3.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-47.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-52.04%	—
Current Drawdown Current decline from peak	-31.75%	-29.02%	-2.73%
Average Drawdown Average peak-to-trough decline	-7.53%	-47.34%	+39.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.13%	13.25%	+0.88%

Volatility

AUMI vs. RING - Volatility Comparison

Themes Gold Miners ETF (AUMI) has a higher volatility of 17.71% compared to iShares MSCI Global Gold Miners ETF (RING) at 16.66%. This indicates that AUMI's price experiences larger fluctuations and is considered to be riskier than RING based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMI	RING	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.71%	16.66%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	41.10%	39.68%	+1.42%
Volatility (1Y) Calculated over the trailing 1-year period	50.02%	47.90%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.39%	36.89%	+5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.39%	36.74%	+5.65%

AUMI vs. RING - Expense Ratio Comparison

AUMI has a 0.35% expense ratio, which is lower than RING's 0.39% expense ratio.

Dividends

AUMI vs. RING - Dividend Comparison

AUMI's dividend yield for the trailing twelve months is around 0.95%, less than RING's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUMI Themes Gold Miners ETF	0.95%	0.86%	1.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RING iShares MSCI Global Gold Miners ETF	1.29%	0.84%	1.43%	2.01%	2.29%	2.38%	0.83%	0.83%	0.70%	0.42%	1.41%	0.96%

Frequently Asked Questions

Can I hold both AUMI and RING in my portfolio?

With a correlation of 0.96, AUMI and RING 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 RING?

AUMI has higher volatility (17.71%) compared to RING (16.66%). In terms of maximum drawdown, AUMI dropped -39.28% vs RING's -79.47%.

Which ETF is better, AUMI or RING?

On 1-year performance, RING leads with 61.98% vs 48.46% for AUMI. On fees, AUMI is cheaper at 0.35% per year. On volatility, RING has been the lower-risk option at 16.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUMI or RING?

Over the 1-year period, RING has performed better with a 61.98% return vs 48.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUMI or RING?

AUMI is cheaper with a 0.35% expense ratio, compared with 0.39% for RING.

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

RING has the higher dividend yield at 1.29%, compared with 0.95% for AUMI.

What is the main difference between AUMI and RING?

AUMI tracks Solactive Global Pure Gold Miners Index, while RING tracks MSCI ACWI Select Gold Miners Investable Market Index. They also come from different issuers: Themes and iShares. Their fees differ too: 0.35% for AUMI and 0.39% for RING.

Which has better risk-adjusted returns?

RING currently has the higher Sharpe Ratio (1.30 vs 0.98), 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.