LIMI vs. AGMI

Last updated Jul 11, 2026

LIMI (Themes Lithium & Battery Metal Miners ETF) and AGMI (Themes Silver Miners ETF) are both exchange-traded funds - LIMI is a Lithium & Battery Metals fund tracking the BITA Global Lithium and Battery Metals Select Index, while AGMI is a Silver fund tracking the STOXX Global Silver Mining Index. Both are passively managed. Over the past year, LIMI returned 67.12% vs 72.44% for AGMI. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

LIMI vs. AGMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Lithium & Battery Metal Miners ETF (LIMI) 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, LIMI achieves a -7.47% return, which is significantly lower than AGMI's -5.51% return.

LIMI

• 1D: -1.07%
• 1M: -20.27%
• 6M: -17.03%
• YTD: -7.47%
• 1Y: 67.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AGMI

• 1D: 0.52%
• 1M: -6.37%
• 6M: -12.41%
• YTD: -5.51%
• 1Y: 72.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LIMI vs. AGMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LIMI Themes Lithium & Battery Metal Miners ETF	-7.47%	91.22%	-0.82%
AGMI Themes Silver Miners ETF	-5.51%	176.11%	-11.88%

Correlation

The correlation between LIMI and AGMI is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024	0.41

Return for Risk

LIMI vs. AGMI — Risk / Return Rank

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

LIMI

LIMI Risk / Return Rank: 50
LIMI Sharpe Ratio Rank: 53
LIMI Sortino Ratio Rank: 51
LIMI Omega Ratio Rank: 47
LIMI Calmar Ratio Rank: 52
LIMI Martin Ratio Rank: 49

AGMI

AGMI Risk / Return Rank: 49
AGMI Sharpe Ratio Rank: 53
AGMI Sortino Ratio Rank: 46
AGMI Omega Ratio Rank: 49
AGMI Calmar Ratio Rank: 55
AGMI Martin Ratio Rank: 39

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.

LIMI vs. AGMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Lithium & Battery Metal Miners ETF (LIMI) 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.

	LIMI	AGMI	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.47	-0.02
Sortino ratio: Return per unit of downside risk	2.01	1.87	+0.14
Omega ratio: Gain probability vs. loss probability	1.24	1.25	-0.01
Calmar ratio: Return relative to maximum drawdown	2.08	2.23	-0.15
Martin ratio: Return relative to average drawdown	6.50	4.96	+1.54

LIMI vs. AGMI - Sharpe Ratio Comparison

The current LIMI Sharpe Ratio is 1.45, which is comparable to the AGMI Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of LIMI 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

LIMI vs. AGMI - Drawdown Comparison

The maximum LIMI drawdown since its inception was -43.77%, which is greater than AGMI's maximum drawdown of -34.40%. Use the drawdown chart below to compare losses from any high point for LIMI and AGMI.

Drawdown Indicators

	LIMI	AGMI	Difference
Max Drawdown Largest peak-to-trough decline	-43.77%	-34.40%	-9.37%
Max Drawdown (1Y) Largest decline over 1 year	-31.47%	-34.40%	+2.93%
Current Drawdown Current decline from peak	-31.47%	-31.81%	+0.34%
Average Drawdown Average peak-to-trough decline	-13.42%	-10.05%	-3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.03%	15.43%	-5.40%

Volatility

LIMI vs. AGMI - Volatility Comparison

The current volatility for Themes Lithium & Battery Metal Miners ETF (LIMI) is 12.96%, while Themes Silver Miners ETF (AGMI) has a volatility of 16.33%. This indicates that LIMI 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

	LIMI	AGMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.96%	16.33%	-3.37%
Volatility (6M) Calculated over the trailing 6-month period	30.72%	43.62%	-12.90%
Volatility (1Y) Calculated over the trailing 1-year period	45.09%	52.14%	-7.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.82%	44.94%	-3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.82%	44.94%	-3.12%

LIMI vs. AGMI - Expense Ratio Comparison

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

Dividends

LIMI vs. AGMI - Dividend Comparison

LIMI's dividend yield for the trailing twelve months is around 0.59%, less than AGMI's 4.69% yield.

Position	TTM	2025	2024
AGMI Themes Silver Miners ETF	4.69%	4.43%	1.81%
LIMI Themes Lithium & Battery Metal Miners ETF	0.59%	0.54%	8.14%

Frequently Asked Questions

Can I hold both LIMI and AGMI in my portfolio?

LIMI and AGMI have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LIMI or AGMI?

AGMI has higher volatility (16.33%) compared to LIMI (12.96%). In terms of maximum drawdown, LIMI dropped -43.77% vs AGMI's -34.40%.

Which ETF is better, LIMI or AGMI?

On 1-year performance, AGMI leads with 72.44% vs 67.12% for LIMI. Both ETFs have the same 0.35% expense ratio. On volatility, LIMI has been the lower-risk option at 12.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LIMI or AGMI?

Over the 1-year period, AGMI has performed better with a 72.44% return vs 67.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LIMI or AGMI?

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

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

AGMI has the higher dividend yield at 4.69%, compared with 0.59% for LIMI.

What is the main difference between LIMI and AGMI?

LIMI is categorized as Lithium & Battery Metals, while AGMI is Silver. LIMI tracks BITA Global Lithium and Battery Metals Select Index, while AGMI tracks STOXX Global Silver Mining Index.

Which has better risk-adjusted returns?

AGMI currently has the higher Sharpe Ratio (1.47 vs 1.45), 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.