AGMI vs SPY
Themes Silver Miners ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AGMI or SPY?
AGMI has been ahead.
SPY has a lower expense ratio. AGMI led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 64.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AGMI | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $13M | $814.4B |
| Dividend Yield | 4.77% | 1.01% |
| Holdings | 47 | 505 |
| YTD Return | +22.63%Best | +13.34% |
| 1Y Return | +83.47%Best | +19.97% |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +12.81% |
| Volatility (annualized) | 43.5% | 11.7%Best |
| Max Drawdown | -35.7% | -18.8%Best |
| $10,000 over 2.3 years | $33,244Best | $15,362 |
| Top 10 Weight | 64.5% | 38.0%Best |
| Fund Family | Themes ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 3, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: May 3, 2024 to Sep 4, 2026 (2.3 years).
AGMI vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.3 years both funds cover.
AGMI vs SPY Performance
Themes Silver Miners ETF (AGMI) is an ETF from Themes ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year AGMI returned +83.47% while SPY returned +19.97%. Year to date, AGMI is up 22.63% versus a gain of 13.34% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AGMI has been the more volatile fund, with annualized monthly volatility of 43.5% compared with 11.7% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -35.7% for AGMI and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.15. They move largely independently of each other.
Fees and Cost Over Time
AGMI charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, AGMI currently yields 4.77% against 1.01% for SPY.
Holdings Overlap
10.5% of AGMI's money is in holdings SPY also owns. 0.2% of SPY's money is in holdings AGMI also owns.
AGMI and SPY share little of their money.
1 positions in common, counted across the 37 positions we hold weights for in AGMI and 504 in SPY, against full books of 47 and 505.
What only one of them owns
Our book lists 495 positions for SPY that do not appear in our book for AGMI (99.3% of the fund), and 6 for AGMI that do not appear in SPY (13.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in AGMI | Weight in SPY | Difference |
|---|---|---|---|
| NEMNewmont Corp Common | 10.50% | 0.16% | 10.34% |
You are not choosing between two funds in isolation.
Whichever of AGMI and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AGMI or SPY?
AGMI has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, AGMI or SPY?
Over the past year AGMI returned +83.47% vs +19.97% for SPY, so AGMI leads on 1-year performance. Over the longest common window we track (2 years), AGMI annualized +68.59% vs +20.52% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AGMI or SPY?
AGMI has been the more volatile fund at 43.5% annualized versus 11.7% for SPY. Worst drawdown: AGMI -35.7% vs SPY -18.8%.
Should I hold both AGMI and SPY?
AGMI and SPY have a monthly-return correlation of 0.15, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between AGMI and SPY?
10.5% of AGMI's money is in holdings SPY also owns. 0.2% of SPY's is in holdings AGMI also owns. They hold 1 positions in common, counted across the 37 positions we hold weights for in AGMI and 504 in SPY.
Which pays a higher dividend, AGMI or SPY?
AGMI yields 4.77% while SPY yields 1.01%, so AGMI currently pays the higher dividend yield.
Is SPY better than AGMI?
SPY has a lower expense ratio. AGMI led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 64.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.