AUMI vs. SLVR

Last updated Jun 4, 2026

AUMI (Themes Gold Miners ETF) and SLVR (Sprott Silver Miners & Physical Silver ETF) are both exchange-traded funds - AUMI is a Gold fund tracking the Solactive Global Pure Gold Miners Index, while SLVR is a Silver fund tracking the Nasdaq Sprott Silver Miners™ Index. Both are passively managed. Over the past year, AUMI returned 48.97% vs 118.11% for SLVR. Their correlation of 0.81 suggests significant overlap in exposure. AUMI charges 0.35%/yr vs 0.65%/yr for SLVR.

Performance

AUMI vs. SLVR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Gold Miners ETF (AUMI) and Sprott Silver Miners & Physical Silver ETF (SLVR). 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 SLVR's 6.80% return.

AUMI

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

SLVR

• 1D: -5.47%
• 1M: 1.96%
• YTD: 6.80%
• 6M: 18.93%
• 1Y: 118.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUMI vs. SLVR - Yearly Performance Comparison

	2026 (YTD)	2025
AUMI Themes Gold Miners ETF	-5.96%	145.38%
SLVR Sprott Silver Miners & Physical Silver ETF	6.80%	170.44%

Correlation

The correlation between AUMI and SLVR is 0.84, 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	0.84
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025	0.81

The correlation between AUMI and SLVR has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

AUMI vs. SLVR — 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

SLVR

SLVR Risk / Return Rank: 51
SLVR Sharpe Ratio Rank: 56
SLVR Sortino Ratio Rank: 45
SLVR Omega Ratio Rank: 48
SLVR Calmar Ratio Rank: 62
SLVR Martin Ratio Rank: 46

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. SLVR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Gold Miners ETF (AUMI) and Sprott Silver Miners & Physical Silver ETF (SLVR). 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	SLVR	Difference
Sharpe ratio Return per unit of total volatility	1.03	1.93	-0.90
Sortino ratio Return per unit of downside risk	1.48	2.25	-0.76
Omega ratio Gain probability vs. loss probability	1.20	1.31	-0.10
Calmar ratio Return relative to maximum drawdown	1.54	3.08	-1.53
Martin ratio Return relative to average drawdown	3.94	7.66	-3.72
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. SLVR - Sharpe Ratio Comparison

The current AUMI Sharpe Ratio is 1.03, which is lower than the SLVR Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of AUMI and SLVR, 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	SLVR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	1.93	-0.90
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	2.02	-0.47

Drawdowns

AUMI vs. SLVR - Drawdown Comparison

The maximum AUMI drawdown since its inception was -31.88%, smaller than the maximum SLVR drawdown of -38.60%. Use the drawdown chart below to compare losses from any high point for AUMI and SLVR.

Drawdown Indicators

	AUMI	SLVR	Difference
Max Drawdown Largest peak-to-trough decline	-31.88%	-38.60%	+6.72%
Max Drawdown (1Y) Largest decline over 1 year	-31.88%	-38.60%	+6.72%
Current Drawdown Current decline from peak	-29.25%	-28.51%	-0.74%
Average Drawdown Average peak-to-trough decline	-7.06%	-9.24%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.46%	15.47%	-3.01%

Volatility

AUMI vs. SLVR - Volatility Comparison

The current volatility for Themes Gold Miners ETF (AUMI) is 14.46%, while Sprott Silver Miners & Physical Silver ETF (SLVR) has a volatility of 19.31%. This indicates that AUMI experiences smaller price fluctuations and is considered to be less risky than SLVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUMI	SLVR	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.46%	19.31%	-4.85%
Volatility (6M) Calculated over the trailing 6-month period	38.54%	51.02%	-12.48%
Volatility (1Y) Calculated over the trailing 1-year period	47.95%	61.64%	-13.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.57%	57.85%	-16.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.57%	57.85%	-16.28%

AUMI vs. SLVR - Expense Ratio Comparison

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

Dividends

AUMI vs. SLVR - Dividend Comparison

AUMI's dividend yield for the trailing twelve months is around 0.92%, less than SLVR's 3.45% yield.

Position	TTM	2025	2024
AUMI Themes Gold Miners ETF	0.92%	0.86%	1.84%
SLVR Sprott Silver Miners & Physical Silver ETF	3.45%	3.68%	0.00%

Frequently Asked Questions

Can I hold both AUMI and SLVR in my portfolio?

AUMI and SLVR have a correlation of 0.84, 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 SLVR?

SLVR has higher volatility (19.31%) compared to AUMI (14.46%). In terms of maximum drawdown, AUMI dropped -31.88% vs SLVR's -38.60%.

Which ETF is better, AUMI or SLVR?

On 1-year performance, SLVR leads with 118.11% 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 SLVR?

Over the 1-year period, SLVR has performed better with a 118.11% 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 SLVR?

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

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

SLVR has the higher dividend yield at 3.45%, compared with 0.92% for AUMI.

What is the main difference between AUMI and SLVR?

AUMI is categorized as Gold, while SLVR is Silver. AUMI tracks Solactive Global Pure Gold Miners Index, while SLVR tracks Nasdaq Sprott Silver Miners™ Index. They also come from different issuers: Themes and Sprott. Their fees differ too: 0.35% for AUMI and 0.65% for SLVR.

Which has better risk-adjusted returns?

SLVR currently has the higher Sharpe Ratio (1.93 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.