GSIB vs. AGMI

Last updated Jun 3, 2026

GSIB (Themes Global Systemically Important Banks ETF) and AGMI (Themes Silver Miners ETF) are both exchange-traded funds - GSIB is a Financials Equities fund actively managed by Themes, while AGMI is a Silver fund tracking the STOXX Global Silver Mining Index. GSIB is actively managed, while AGMI is passively managed. Over the past year, GSIB returned 44.95% vs 125.57% for AGMI. At a 0.38 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

GSIB vs. AGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Global Systemically Important Banks ETF (GSIB) 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, GSIB achieves a 10.94% return, which is significantly lower than AGMI's 12.96% return.

GSIB

• 1D: 1.36%
• 1M: 4.75%
• YTD: 10.94%
• 6M: 17.71%
• 1Y: 44.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AGMI

• 1D: 2.76%
• 1M: 6.81%
• YTD: 12.96%
• 6M: 25.76%
• 1Y: 125.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSIB vs. AGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GSIB Themes Global Systemically Important Banks ETF	10.94%	61.67%	18.70%
AGMI Themes Silver Miners ETF	12.96%	176.11%	-0.74%

Correlation

The correlation between GSIB and AGMI is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 6, 2024	0.38

GSIB vs. AGMI - Sectors Allocation Comparison

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

Return for Risk

GSIB vs. AGMI — Risk / Return Rank

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

GSIB

GSIB Risk / Return Rank: 72
GSIB Sharpe Ratio Rank: 80
GSIB Sortino Ratio Rank: 80
GSIB Omega Ratio Rank: 72
GSIB Calmar Ratio Rank: 64
GSIB Martin Ratio Rank: 63

AGMI

AGMI Risk / Return Rank: 67
AGMI Sharpe Ratio Rank: 79
AGMI Sortino Ratio Rank: 56
AGMI Omega Ratio Rank: 62
AGMI Calmar Ratio Rank: 78
AGMI Martin Ratio Rank: 61

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.

GSIB vs. AGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Global Systemically Important Banks ETF (GSIB) 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.

	GSIB	AGMI	Difference
Sharpe ratio Return per unit of total volatility	2.63	2.59	+0.03
Sortino ratio Return per unit of downside risk	3.61	2.71	+0.90
Omega ratio Gain probability vs. loss probability	1.44	1.38	+0.06
Calmar ratio Return relative to maximum drawdown	3.25	4.09	-0.84
Martin ratio Return relative to average drawdown	11.47	11.14	+0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSIB vs. AGMI - Sharpe Ratio Comparison

The current GSIB Sharpe Ratio is 2.63, which is comparable to the AGMI Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of GSIB 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.

Sharpe Ratios by Period

	GSIB	AGMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	2.59	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	2.39	1.66	+0.73

Drawdowns

GSIB vs. AGMI - Drawdown Comparison

The maximum GSIB drawdown since its inception was -17.71%, smaller than the maximum AGMI drawdown of -33.26%. Use the drawdown chart below to compare losses from any high point for GSIB and AGMI.

Drawdown Indicators

	GSIB	AGMI	Difference
Max Drawdown Largest peak-to-trough decline	-17.71%	-33.26%	+15.55%
Max Drawdown (1Y) Largest decline over 1 year	-13.90%	-33.26%	+19.36%
Current Drawdown Current decline from peak	0.00%	-18.49%	+18.49%
Average Drawdown Average peak-to-trough decline	-2.06%	-9.12%	+7.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	12.21%	-8.27%

Volatility

GSIB vs. AGMI - Volatility Comparison

The current volatility for Themes Global Systemically Important Banks ETF (GSIB) is 5.55%, while Themes Silver Miners ETF (AGMI) has a volatility of 16.98%. This indicates that GSIB 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.

Volatility by Period

	GSIB	AGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.55%	16.98%	-11.43%
Volatility (6M) Calculated over the trailing 6-month period	13.92%	40.71%	-26.79%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	48.86%	-31.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.45%	43.94%	-25.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.45%	43.94%	-25.49%

GSIB vs. AGMI - Expense Ratio Comparison

Both GSIB and AGMI have an expense ratio of 0.35%.

Dividends

GSIB vs. AGMI - Dividend Comparison

GSIB's dividend yield for the trailing twelve months is around 1.72%, less than AGMI's 3.92% yield.

Position	TTM	2025	2024
AGMI Themes Silver Miners ETF	3.92%	4.43%	1.81%
GSIB Themes Global Systemically Important Banks ETF	1.72%	1.91%	1.67%

Frequently Asked Questions

Can I hold both GSIB and AGMI in my portfolio?

GSIB and AGMI have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSIB or AGMI?

AGMI has higher volatility (16.98%) compared to GSIB (5.55%). In terms of maximum drawdown, GSIB dropped -17.71% vs AGMI's -33.26%.

Which ETF is better, GSIB or AGMI?

On 1-year performance, AGMI leads with 125.57% vs 44.95% for GSIB. Both ETFs have the same 0.35% expense ratio. On volatility, GSIB has been the lower-risk option at 5.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSIB or AGMI?

Over the 1-year period, AGMI has performed better with a 125.57% return vs 44.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSIB or AGMI?

GSIB and AGMI have the same expense ratio: 0.35% per year.

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

AGMI has the higher dividend yield at 3.92%, compared with 1.72% for GSIB.

What is the main difference between GSIB and AGMI?

GSIB is categorized as Financials Equities, while AGMI is Silver.

Which has better risk-adjusted returns?

GSIB currently has the higher Sharpe Ratio (2.63 vs 2.59), 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.