GLDI vs. AGMI
GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) and AGMI (Themes Silver Miners ETF) are both exchange-traded funds - GLDI is a Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index, while AGMI is a Silver fund tracking the STOXX Global Silver Mining Index. Both are passively managed. Over the past year, GLDI returned 21.23% vs 112.77% for AGMI. A 0.65 correlation means they provide meaningful diversification when combined. GLDI charges 0.65%/yr vs 0.35%/yr for AGMI.
Performance
GLDI vs. AGMI - Performance Comparison
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Returns By Period
In the year-to-date period, GLDI achieves a 2.06% return, which is significantly lower than AGMI's 7.60% return.
GLDI
- 1D
- -0.81%
- 1M
- 0.90%
- YTD
- 2.06%
- 6M
- 4.42%
- 1Y
- 21.23%
- 3Y*
- 19.54%
- 5Y*
- 11.15%
- 10Y*
- 8.99%
AGMI
- 1D
- -4.74%
- 1M
- 3.77%
- YTD
- 7.60%
- 6M
- 20.09%
- 1Y
- 112.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDI vs. AGMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | 2.06% | 34.25% | 12.44% |
AGMI Themes Silver Miners ETF | 7.60% | 176.11% | -0.74% |
Correlation
The correlation between GLDI and AGMI is 0.69, 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 | 0.69 |
Correlation (All Time) Calculated using the full available price history since May 6, 2024 | 0.65 |
The correlation between GLDI and AGMI has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.
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Return for Risk
GLDI vs. AGMI — Risk / Return Rank
GLDI
AGMI
GLDI vs. AGMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) 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.
| GLDI | AGMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 3.41 | -1.86 |
| Martin ratioReturn relative to average drawdown | 6.07 | 9.21 | -3.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GLDI | AGMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 2.32 | -0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 1.56 | -1.19 |
Drawdowns
GLDI vs. AGMI - Drawdown Comparison
The maximum GLDI drawdown since its inception was -32.26%, roughly equal to the maximum AGMI drawdown of -33.26%. Use the drawdown chart below to compare losses from any high point for GLDI and AGMI.
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Drawdown Indicators
| GLDI | AGMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.26% | -33.26% | +1.00% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -33.26% | +19.53% |
Max Drawdown (3Y)Largest decline over 3 years | -13.73% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | — | — |
Current DrawdownCurrent decline from peak | -7.37% | -22.35% | +14.98% |
Average DrawdownAverage peak-to-trough decline | -14.00% | -9.14% | -4.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 12.29% | -8.79% |
Volatility
GLDI vs. AGMI - Volatility Comparison
The current volatility for Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) is 3.88%, while Themes Silver Miners ETF (AGMI) has a volatility of 17.62%. This indicates that GLDI 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
| GLDI | AGMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 17.62% | -13.74% |
Volatility (6M)Calculated over the trailing 6-month period | 12.87% | 40.98% | -28.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 48.95% | -34.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.31% | 44.04% | -32.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 44.04% | -32.69% |
GLDI vs. AGMI - Expense Ratio Comparison
GLDI has a 0.65% expense ratio, which is higher than AGMI's 0.35% expense ratio.
Dividends
GLDI vs. AGMI - Dividend Comparison
GLDI's dividend yield for the trailing twelve months is around 22.37%, more than AGMI's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | 22.37% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
Frequently Asked Questions
GLDI and AGMI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGMI has higher volatility (17.62%) compared to GLDI (3.88%). In terms of maximum drawdown, GLDI dropped -32.26% vs AGMI's -33.26%.
On 1-year performance, AGMI leads with 112.77% vs 21.23% for GLDI. On fees, AGMI is cheaper at 0.35% per year. On volatility, GLDI has been the lower-risk option at 3.88%. 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 21.23%. 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 0.65% for GLDI.
GLDI has the higher dividend yield at 22.37%, compared with 4.12% for AGMI.
GLDI is categorized as Precious Metals, while AGMI is Silver. GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index, while AGMI tracks STOXX Global Silver Mining Index. They also come from different issuers: Credit Suisse and Themes. Their fees differ too: 0.65% for GLDI and 0.35% for AGMI.
AGMI currently has the higher Sharpe Ratio (2.32 vs 1.46), 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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