COPJ vs. AGMI

Last updated Jul 1, 2026

COPJ (Sprott Junior Copper Miners ETF) and AGMI (Themes Silver Miners ETF) are both exchange-traded funds - COPJ is a Copper fund tracking the Nasdaq Sprott Junior Copper Miners Index, while AGMI is a Silver fund tracking the STOXX Global Silver Mining Index. Both are passively managed. Over the past year, COPJ returned 82.49% vs 77.19% for AGMI. A 0.71 correlation means they provide meaningful diversification when combined. COPJ charges 0.78%/yr vs 0.35%/yr for AGMI.

Performance

COPJ vs. AGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Copper Miners ETF (COPJ) and Themes Silver Miners ETF (AGMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPJ achieves a 0.79% return, which is significantly higher than AGMI's -5.19% return.

COPJ

• 1D: 2.38%
• 1M: -11.17%
• YTD: 0.79%
• 6M: -0.15%
• 1Y: 82.49%
• 3Y*: 38.25%
• 5Y*: —
• 10Y*: —

AGMI

• 1D: -0.26%
• 1M: -15.37%
• YTD: -5.19%
• 6M: -6.87%
• 1Y: 77.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COPJ vs. AGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPJ Sprott Junior Copper Miners ETF	0.79%	140.63%	-8.72%
AGMI Themes Silver Miners ETF	-5.19%	176.11%	-0.74%

Correlation

The correlation between COPJ and AGMI is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (All Time) Calculated using the full available price history since May 3, 2024	0.71

The correlation between COPJ and AGMI has been stable across timeframes, ranging from 0.71 to 0.73 - a consistent structural relationship.

COPJ vs. AGMI - Sectors Allocation Comparison

Sectors	COPJ	AGMI
Basic Materials	100.0%	99.8%
Technology	3.6%	0.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

COPJ vs. AGMI — Risk / Return Rank

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

COPJ

COPJ Risk / Return Rank: 57
COPJ Sharpe Ratio Rank: 67
COPJ Sortino Ratio Rank: 54
COPJ Omega Ratio Rank: 58
COPJ Calmar Ratio Rank: 61
COPJ Martin Ratio Rank: 46

AGMI

AGMI Risk / Return Rank: 45
AGMI Sharpe Ratio Rank: 50
AGMI Sortino Ratio Rank: 41
AGMI Omega Ratio Rank: 45
AGMI Calmar Ratio Rank: 53
AGMI Martin Ratio Rank: 38

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.

COPJ vs. AGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Copper Miners ETF (COPJ) and Themes Silver Miners ETF (AGMI). 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.

	COPJ	AGMI	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.50	+0.35
Sortino ratio: Return per unit of downside risk	2.24	1.89	+0.35
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.05
Calmar ratio: Return relative to maximum drawdown	2.57	2.26	+0.31
Martin ratio: Return relative to average drawdown	6.71	5.34	+1.38

COPJ vs. AGMI - Sharpe Ratio Comparison

The current COPJ Sharpe Ratio is 1.84, which is comparable to the AGMI Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of COPJ and AGMI, 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

COPJ vs. AGMI - Drawdown Comparison

The maximum COPJ drawdown since its inception was -32.28%, smaller than the maximum AGMI drawdown of -34.40%. Use the drawdown chart below to compare losses from any high point for COPJ and AGMI.

Drawdown Indicators

	COPJ	AGMI	Difference
Max Drawdown Largest peak-to-trough decline	-32.28%	-34.40%	+2.12%
Max Drawdown (1Y) Largest decline over 1 year	-32.28%	-34.40%	+2.12%
Max Drawdown (3Y) Largest decline over 3 years	-32.28%	—	—
Current Drawdown Current decline from peak	-22.96%	-31.58%	+8.62%
Average Drawdown Average peak-to-trough decline	-12.08%	-9.78%	-2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.33%	14.51%	-2.18%

Volatility

COPJ vs. AGMI - Volatility Comparison

Sprott Junior Copper Miners ETF (COPJ) and Themes Silver Miners ETF (AGMI) have volatilities of 18.91% and 19.24%, 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

	COPJ	AGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.91%	19.24%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	38.69%	44.02%	-5.33%
Volatility (1Y) Calculated over the trailing 1-year period	44.95%	51.85%	-6.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.66%	44.98%	-9.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.66%	44.98%	-9.32%

COPJ vs. AGMI - Expense Ratio Comparison

COPJ has a 0.78% expense ratio, which is higher than AGMI's 0.35% expense ratio.

Dividends

COPJ vs. AGMI - Dividend Comparison

COPJ's dividend yield for the trailing twelve months is around 11.48%, more than AGMI's 4.67% yield.

Position	TTM	2025	2024	2023
AGMI Themes Silver Miners ETF	4.67%	4.43%	1.81%	0.00%
COPJ Sprott Junior Copper Miners ETF	11.48%	11.57%	11.64%	2.48%

Frequently Asked Questions

Can I hold both COPJ and AGMI in my portfolio?

COPJ and AGMI have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COPJ or AGMI?

AGMI has higher volatility (19.24%) compared to COPJ (18.91%). In terms of maximum drawdown, COPJ dropped -32.28% vs AGMI's -34.40%.

Which ETF is better, COPJ or AGMI?

On 1-year performance, COPJ leads with 82.49% vs 77.19% for AGMI. On fees, AGMI is cheaper at 0.35% per year. On volatility, COPJ has been the lower-risk option at 18.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPJ or AGMI?

Over the 1-year period, COPJ has performed better with a 82.49% return vs 77.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPJ or AGMI?

AGMI is cheaper with a 0.35% expense ratio, compared with 0.78% for COPJ.

Which ETF pays a higher dividend yield, COPJ or AGMI?

COPJ has the higher dividend yield at 11.48%, compared with 4.67% for AGMI.

What is the main difference between COPJ and AGMI?

COPJ is categorized as Copper, while AGMI is Silver. COPJ tracks Nasdaq Sprott Junior Copper Miners Index, while AGMI tracks STOXX Global Silver Mining Index. They also come from different issuers: Sprott and Themes. Their fees differ too: 0.78% for COPJ and 0.35% for AGMI.

Which has better risk-adjusted returns?

COPJ currently has the higher Sharpe Ratio (1.84 vs 1.50), 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.