SILG.L vs. AG.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Silver Miners UCITS ETF USD Accumulating (SILG.L) and First Majestic Silver Corp (AG.TO).

SILG.L is a passively managed fund by Global X that tracks the performance of the EMIX Global Mining Global Gold TR USD. It was launched on May 6, 2022.

Performance

SILG.L vs. AG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X Silver Miners UCITS ETF USD Accumulating (SILG.L) and First Majestic Silver Corp (AG.TO). The values are adjusted to include any dividend payments, if applicable.

SILG.L vs. AG.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SILG.L Global X Silver Miners UCITS ETF USD Accumulating	14.25%	153.98%	13.53%	-6.34%	-8.01%
AG.TO First Majestic Silver Corp	35.03%	182.91%	-8.68%	-29.72%	-10.00%

Different Trading Currencies

SILG.L is traded in GBP, while AG.TO is traded in CAD. To make them comparable, the AG.TO values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, SILG.L achieves a 14.25% return, which is significantly lower than AG.TO's 35.03% return.

SILG.L

• 1D: 7.78%
• 1M: -17.14%
• YTD: 14.25%
• 6M: 35.43%
• 1Y: 144.54%
• 3Y*: 43.55%
• 5Y*: —
• 10Y*: —

AG.TO

• 1D: 3.06%
• 1M: -29.02%
• YTD: 35.03%
• 6M: 83.66%
• 1Y: 226.48%
• 3Y*: 42.33%
• 5Y*: 7.37%
• 10Y*: 14.00%

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

Return for Risk

SILG.L vs. AG.TO — Risk / Return Rank

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

SILG.L

SILG.L Risk / Return Rank: 95
SILG.L Sharpe Ratio Rank: 97
SILG.L Sortino Ratio Rank: 95
SILG.L Omega Ratio Rank: 92
SILG.L Calmar Ratio Rank: 96
SILG.L Martin Ratio Rank: 95

AG.TO

AG.TO Risk / Return Rank: 93
AG.TO Sharpe Ratio Rank: 96
AG.TO Sortino Ratio Rank: 92
AG.TO Omega Ratio Rank: 90
AG.TO Calmar Ratio Rank: 93
AG.TO Martin Ratio Rank: 95

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.

SILG.L vs. AG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Silver Miners UCITS ETF USD Accumulating (SILG.L) and First Majestic Silver Corp (AG.TO). 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.

	SILG.L	AG.TO	Difference
Sharpe ratio Return per unit of total volatility	3.04	3.12	-0.09
Sortino ratio Return per unit of downside risk	3.17	3.16	+0.01
Omega ratio Gain probability vs. loss probability	1.42	1.41	+0.02
Calmar ratio Return relative to maximum drawdown	4.75	5.28	-0.53
Martin ratio Return relative to average drawdown	15.52	17.23	-1.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SILG.L vs. AG.TO - Sharpe Ratio Comparison

The current SILG.L Sharpe Ratio is 3.04, which is comparable to the AG.TO Sharpe Ratio of 3.12. The chart below compares the historical Sharpe Ratios of SILG.L and AG.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SILG.L	AG.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.04	3.12	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.29	+0.50

Correlation

The correlation between SILG.L and AG.TO is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SILG.L vs. AG.TO - Dividend Comparison

SILG.L has not paid dividends to shareholders, while AG.TO's dividend yield for the trailing twelve months is around 0.10%.

	TTM	2025	2024	2023	2022	2021
SILG.L Global X Silver Miners UCITS ETF USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
AG.TO First Majestic Silver Corp	0.10%	0.12%	0.30%	0.34%	0.30%	0.14%

Drawdowns

SILG.L vs. AG.TO - Drawdown Comparison

The maximum SILG.L drawdown since its inception was -32.00%, smaller than the maximum AG.TO drawdown of -88.70%. Use the drawdown chart below to compare losses from any high point for SILG.L and AG.TO.

Drawdown Indicators

	SILG.L	AG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-32.00%	-99.43%	+67.43%
Max Drawdown (1Y) Largest decline over 1 year	-30.90%	-42.58%	+11.68%
Max Drawdown (5Y) Largest decline over 5 years	—	-74.17%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-79.71%	—
Current Drawdown Current decline from peak	-18.40%	-29.49%	+11.09%
Average Drawdown Average peak-to-trough decline	-12.15%	-66.94%	+54.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.46%	13.38%	-3.92%

Volatility

SILG.L vs. AG.TO - Volatility Comparison

The current volatility for Global X Silver Miners UCITS ETF USD Accumulating (SILG.L) is 20.05%, while First Majestic Silver Corp (AG.TO) has a volatility of 23.69%. This indicates that SILG.L experiences smaller price fluctuations and is considered to be less risky than AG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SILG.L	AG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.05%	23.69%	-3.64%
Volatility (6M) Calculated over the trailing 6-month period	40.97%	58.09%	-17.12%
Volatility (1Y) Calculated over the trailing 1-year period	47.32%	73.05%	-25.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.74%	58.11%	-19.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.74%	60.24%	-21.50%