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GDXJ vs. AGMI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GDXJ vs. AGMI

Last updated Jun 4, 2026

GDXJ (VanEck Junior Gold Miners ETF) and AGMI (Themes Silver Miners ETF) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while AGMI is a Silver fund tracking the STOXX Global Silver Mining Index. Both are passively managed. Over the past year, GDXJ returned 65.12% vs 112.77% for AGMI. Their correlation of 0.92 suggests significant overlap in exposure. GDXJ charges 0.52%/yr vs 0.35%/yr for AGMI.

Performance

GDXJ vs. AGMI - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, GDXJ achieves a -2.55% return, which is significantly lower than AGMI's 7.60% return.

GDXJ

1D
-4.40%
1M
-1.95%
YTD
-2.55%
6M
6.26%
1Y
65.12%
3Y*
46.12%
5Y*
17.46%
10Y*
13.07%

AGMI

1D
-4.74%
1M
3.77%
YTD
7.60%
6M
20.09%
1Y
112.77%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

GDXJ vs. AGMI - Yearly Performance Comparison

2026 (YTD)20252024
GDXJ
VanEck Junior Gold Miners ETF		-2.55%172.28%7.66%
AGMI
Themes Silver Miners ETF		7.60%176.11%-0.74%

Correlation

The correlation between GDXJ and AGMI is 0.94, 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

0.94

Correlation (All Time)
Calculated using the full available price history since May 6, 2024

0.92

The correlation between GDXJ and AGMI has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

GDXJ vs. AGMI - Sectors Allocation Comparison

Sectors
GDXJ
AGMI

Basic Materials

100.0%
100.0%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

0.0%

Utilities

-

-

Basic Materials

GDXJ
100.0%
AGMI
100.0%

Communication Services

GDXJ

-

AGMI

-

Consumer Cyclical

GDXJ

-

AGMI

-

Consumer Defensive

GDXJ

-

AGMI

-

Energy

GDXJ

-

AGMI

-

Financial Services

GDXJ

-

AGMI

-

Healthcare

GDXJ

-

AGMI

-

Industrials

GDXJ

-

AGMI

-

Real Estate

GDXJ

-

AGMI

-

Technology

GDXJ

-

AGMI
0.0%

Utilities

GDXJ

-

AGMI

-

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VanEck Junior Gold Miners ETF

Themes Silver Miners ETF

Often compared with GDXJ:
GDXJ vs. GDXGDXJ vs. GLDGDXJ vs. SILJGDXJ vs. GOLDGDXJ vs. SPYGDXJ vs. GLDMGDXJ vs. IAU
Often compared with AGMI:
AGMI vs. AUMIAGMI vs. SILAGMI vs. SLVR.LAGMI vs. GLDMAGMI vs. SSLN.LAGMI vs. SLVPAGMI vs. IDCC

Return for Risk

GDXJ vs. AGMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GDXJ
GDXJ Risk / Return Rank: 3535
Overall Rank
GDXJ Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
GDXJ Sortino Ratio Rank: 3232
Sortino Ratio Rank
GDXJ Omega Ratio Rank: 3535
Omega Ratio Rank
GDXJ Calmar Ratio Rank: 3939
Calmar Ratio Rank
GDXJ Martin Ratio Rank: 3232
Martin Ratio Rank
AGMI
AGMI Risk / Return Rank: 6060
Overall Rank
AGMI Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
AGMI Sortino Ratio Rank: 5151
Sortino Ratio Rank
AGMI Omega Ratio Rank: 5757
Omega Ratio Rank
AGMI Calmar Ratio Rank: 6868
Calmar Ratio Rank
AGMI Martin Ratio Rank: 5454
Martin Ratio Rank
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.

GDXJ vs. AGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) 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.

GDXJAGMIDifference
Sharpe ratioReturn per unit of total volatility
1.32
2.32

-1.00

Sortino ratioReturn per unit of downside risk
1.74
2.52

-0.78

Omega ratioGain probability vs. loss probability

1.24

1.35

-0.11

Calmar ratioReturn relative to maximum drawdown

1.99

3.41

-1.42

Martin ratioReturn relative to average drawdown

4.95

9.21

-4.26

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDXJ vs. AGMI - Sharpe Ratio Comparison

The current GDXJ Sharpe Ratio is 1.32, which is lower than the AGMI Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of GDXJ 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.

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Sharpe Ratios by Period

GDXJAGMIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.32

2.32

-1.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.30

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.06

1.56

-1.50

Drawdowns

GDXJ vs. AGMI - Drawdown Comparison

The maximum GDXJ drawdown since its inception was -88.66%, which is greater than AGMI's maximum drawdown of -33.26%. Use the drawdown chart below to compare losses from any high point for GDXJ and AGMI.

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Drawdown Indicators

GDXJAGMIDifference

Max Drawdown

Largest peak-to-trough decline

-88.66%

-33.26%

-55.40%

Max Drawdown (1Y)

Largest decline over 1 year

-32.92%

-33.26%

+0.34%

Max Drawdown (3Y)

Largest decline over 3 years

-32.92%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-50.99%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-57.77%

—

—

Current Drawdown

Current decline from peak

-29.01%

-22.35%

-6.66%

Average Drawdown

Average peak-to-trough decline

-60.50%

-9.14%

-51.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.19%

12.29%

+0.90%

Volatility

GDXJ vs. AGMI - Volatility Comparison

The current volatility for VanEck Junior Gold Miners ETF (GDXJ) is 16.66%, while Themes Silver Miners ETF (AGMI) has a volatility of 17.62%. This indicates that GDXJ experiences smaller price fluctuations and is considered to be less risky than AGMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GDXJAGMIDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.66%

17.62%

-0.96%

Volatility (6M)

Calculated over the trailing 6-month period

41.34%

40.98%

+0.36%

Volatility (1Y)

Calculated over the trailing 1-year period

49.79%

48.95%

+0.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

41.10%

44.04%

-2.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

44.06%

44.04%

+0.02%

GDXJ vs. AGMI - Expense Ratio Comparison

GDXJ has a 0.52% expense ratio, which is higher than AGMI's 0.35% expense ratio.

Dividends

GDXJ vs. AGMI - Dividend Comparison

GDXJ's dividend yield for the trailing twelve months is around 2.39%, less than AGMI's 4.12% yield.

PositionTTM20252024202320222021202020192018201720162015
AGMI
Themes Silver Miners ETF		4.12%4.43%1.81%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GDXJ
VanEck Junior Gold Miners ETF		2.39%2.33%2.61%0.72%0.51%1.78%1.58%0.39%0.45%0.03%4.78%0.72%

Frequently Asked Questions

With a correlation of 0.94, GDXJ and AGMI 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.

AGMI has higher volatility (17.62%) compared to GDXJ (16.66%). In terms of maximum drawdown, GDXJ dropped -88.66% vs AGMI's -33.26%.

On 1-year performance, AGMI leads with 112.77% vs 65.12% for GDXJ. On fees, AGMI is cheaper at 0.35% per year. On volatility, GDXJ has been the lower-risk option at 16.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, AGMI has performed better with a 112.77% return vs 65.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AGMI is cheaper with a 0.35% expense ratio, compared with 0.52% for GDXJ.

AGMI has the higher dividend yield at 4.12%, compared with 2.39% for GDXJ.

GDXJ is categorized as Gold, while AGMI is Silver. GDXJ tracks MVIS Global Junior Gold Miners Index, while AGMI tracks STOXX Global Silver Mining Index. They also come from different issuers: VanEck and Themes. Their fees differ too: 0.52% for GDXJ and 0.35% for AGMI.

AGMI currently has the higher Sharpe Ratio (2.32 vs 1.31), 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.

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