Themes Gold Miners ETF
ALTAR
Score™		 4.7% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 14.7x P/Sales
ratio		 3.4x
P/BV
ratio		 2.7x Div.
yield		 1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Themes Gold Miners ETF seeks to provide investors with exposure to companies involved in the gold mining industry, aiming for capital appreciation and potential income through investments in gold-related securities.

FUND BASICS
Category International Equities
Fund Sponsor Themes
Website themesetfs.com/etfs/AUMI/
Inception date Dec 12, 2023
Assets (mns) $10
Currency USD
Expense ratio 35 bp
Distributions

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 27
Wgt avg mkt cap (mns) $10,308
Large cap (>$10bn) 29.5%
Mid cap ($2-10bn) 44.1%
Small cap (<$2bn) 26.4%
Developed mkts 83.4%
Emerging mkts 16.6%

TOP TEN HOLDINGS
ANGLOGOLD ASHANTI-SPON ADR 6.3 %
NORTHERN STAR RESOURCES LTD 6.3 %
LUNDIN GOLD INC. 5.9 %
GOLD FIELDS LTD-SPONS ADR 5.8 %
KINROSS GOLD CORP 5.8 %
ENDEAVOUR MINING CORPORATION 5.3 %
AGNICO-EAGLE MINES LTD 4.9 %
B2GOLD CORP 4.7 %
ZHAOJIN MINING INDUSTRY - H 4.5 %
EQUINOX GOLD CORP. 4.4 %
Total 53.9 %

TOP COUNTRY EXPOSURE
CANADA 52.6 %
AUSTRALIA 26.4 %
SOUTH AFRICA 11.4 %
BRITAIN 5.4 %
CHINA 4.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
47.6% 52.3% -- -- 51.7%

Market Correlations
versus... Beta R-squared
S&P500 -0.54 7%
MSCI EAFE 0.19 1%
MSCI Emg. Mkts. 1.01 14%

Technical Indicators
Recent close $63.89
30d moving avg. $56.63
Annualized volatility 25.1%
Short interest (ETF) 0.6%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 5
Turnover 3.1%
Bid/Ask (% of price) 0.00%
ADV underlying (mns) $182

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 186 potential alternatives to the Themes Gold Miners ETF ETF based on the alternatives' overlap in portfolio holdings with AUMI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: AUMI Expense: 35 bp ALTAR Score™: 4.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH AUMI
Ticker Fund
Name		 Overlap1
vs AUMI
(%)		 Expense
ratio
(bp)		 Savings
vs AUMI
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs AUMI
(%)
GOEX Global X Gold Explorers ETF 47.4 65 -30 3.3 -1.3
SGDM Sprott Gold Miners ETF 30.7 50 -15 3.4 -1.2
RING iShares MSCI Global Gold Miners ETF 25.0 39 -4 4.7 0.0
GDXJ VanEck Junior Gold Miners ETF 20.1 52 -17 4.8 +0.1
GOAU U.S. Global GO GOLD and Precious Metal Miners ETF 19.1 60 -25 4.1 -0.6
SGDJ Sprott Junior Gold Miners ETF 17.0 50 -15 4.5 -0.2
GDX VanEck Gold Miners ETF 17.0 51 -16 3.6 -1.1
SLVP iShares MSCI Global Silver Miners ETF 14.4 39 -4 7.0 +2.4
NANR SPDR S&P North American Natural Resources ETF 7.9 35 0 7.9 +3.2
FXZ First Trust Materials AlphaDEX Fund 5.9 61 -26 9.9 +5.3
FTWO Strive FAANG 2.0 ETF 5.5 49 -14 4.3 -0.4
AFK VanEck Africa Index ETF 4.9 98 -63 12.0 +7.3
AVDV Avantis International Small Cap Value ETF 4.8 36 -1 9.5 +4.8
MXI iShares Global Materials ETF 4.5 41 -6 7.6 +2.9
CGV Conductor Global Equity Value ETF 4.4 130 -95 8.3 +3.6
EWC iShares MSCI Canada ETF 4.4 50 -15 6.1 +1.5
CCNR ALPS CoreCommodity Natural Resources ETF 4.3 39 -4 11.0 +6.4
ABEQ Absolute Select Value ETF 4.1 85 -50 4.7 +0.0
GNR SPDR S&P Global Natural Resources ETF 3.9 40 -5 11.0 +6.3
FTRI First Trust Indxx Global Natural Resources Income ETF 2.8 70 -35 7.6 +2.9
SCHC Schwab International Small-Cap Equity ETF 2.7 11 24 6.6 +2.0
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.7 80 -45 10.6 +5.9
LST Leuthold Select Industries ETF 2.7 91 -56 5.1 +0.4
FLCA Franklin FTSE Canada ETF 2.6 9 26 6.5 +1.8
DIVL Madison Dividend Value ETF 2.6 65 -30 5.8 +1.1
MBOX Freedom Day Dividend ETF 2.5 39 -4 7.4 +2.7
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 2.4 46 -11 9.9 +5.2
CBSE Clough Select Equity ETF 2.4 85 -50 0.9 -3.8
BBCA JPMorgan BetaBuilders Canada ETF 2.3 19 16 6.3 +1.7
AVDS Avantis International Small Cap Equity ETF 2.3 30 5 7.3 +2.6
VIDI Vident International Equity Strategy ETF 2.3 61 -26 10.9 +6.3
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 2.1 8 27 6.1 +1.5
GWX SPDR S&P International Small Cap ETF 2.0 40 -5 6.0 +1.3
FFTY Innovator IBD 50 ETF 2.0 80 -45 -2.4 -7.1
OAIM OneAscent International Equity ETF 2.0 95 -60 5.7 +1.0
IDMO Invesco S&P International Developed Momentum ETF 2.0 25 10 5.3 +0.6
FDT First Trust Developed Markets ex-US AlphaDEX Fund 1.9 80 -45 9.6 +4.9
IMTM iShares MSCI Intl Momentum Factor ETF 1.7 30 5 5.5 +0.8
DFIS Dimensional International Small Cap ETF 1.4 39 -4 7.3 +2.6
FCA First Trust China AlphaDEX Fund 1.4 80 -45 8.3 +3.6
PPIE Putnam PanAgora ESG International Equity ETF 1.3 49 -14 7.4 +2.8
ROE Astoria US Quality Kings ETF 1.3 49 -14 6.5 +1.9
HAP VanEck Natural Resources ETF 1.3 50 -15 9.4 +4.7
AVIV Avantis International Large Cap Value ETF 1.3 25 10 8.6 +3.9
EWA iShares MSCI Australia ETF 1.2 50 -15 5.6 +0.9
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.2 80 -45 5.0 +0.3
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.2 50 -15 6.0 +1.3
COPY Tweedy, Browne Insider + Value ETF 1.2 80 -45 11.8 +7.1
FRDM Freedom 100 Emerging Markets ETF 1.2 49 -14 8.5 +3.8
DARP Grizzle Growth ETF 1.2 75 -40 2.9 -1.7
DISV Dimensional International Small Cap Value ETF 1.1 42 -7 9.1 +4.4
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.1 49 -14 6.8 +2.2
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 1.1 80 -45 9.1 +4.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 1.1 39 -4 7.9 +3.3
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.0 12 23 6.0 +1.3
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.0 90 -55 7.0 +2.3
AVDE Avantis International Equity ETF 1.0 23 12 7.4 +2.7
IGRO iShares International Dividend Growth ETF 0.9 15 20 7.3 +2.6
COPA Themes Copper Miners ETF 0.9 35 0 5.9 +1.2
FLAU Franklin FTSE Australia ETF 0.9 9 26 6.1 +1.4
QINT American Century Quality Diversified International ETF 0.9 39 -4 7.3 +2.7
FEGE First Eagle Global Equity ETF 0.9 79 -44 7.0 +2.3
UMMA Wahed Dow Jones Islamic World ETF 0.8 65 -30 5.4 +0.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.8 30 5 7.9 +3.2
DXIV Dimensional International Vector Equity ETF 0.8 34 1 7.8 +3.2
AVSD Avantis Responsible International Equity ETF 0.8 23 12 5.7 +1.0
DEHP Dimensional Emerging Markets High Profitability ETF 0.8 41 -6 6.8 +2.1
EPP iShares MSCI Pacific ex-Japan ETF 0.8 47 -12 5.1 +0.4
IDEV iShares Core MSCI International Developed Markets ETF 0.7 4 31 7.0 +2.3
QLV FlexShares US Quality Low Volatility Index Fund 0.7 22 13 5.6 +0.9
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.7 19 16 5.8 +1.1
ROAM Hartford Multifactor Emerging Markets ETF 0.7 44 -9 12.2 +7.6
SCZ iShares MSCI EAFE Small-Cap ETF 0.6 40 -5 6.9 +2.2
FNDC Schwab Fundamental International Small Co. Index ETF 0.6 39 -4 5.8 +1.1
VSGX Vanguard ESG International Stock ETF 0.6 10 25 7.7 +3.0
VEA Vanguard FTSE Developed Markets ETF 0.6 3 32 7.2 +2.5
IVRA Invesco Real Assets ESG ETF 0.6 59 -24 6.3 +1.6
WWJD Inspire International ETF 0.6 80 -45 7.3 +2.6
DFIC Dimensional International Core Equity 2 ETF 0.6 23 12 7.4 +2.7
IQLT iShares MSCI Intl Quality Factor ETF 0.6 30 5 6.3 +1.6
FEM First Trust Emerging Markets AlphaDEX Fund 0.6 80 -45 11.2 +6.6
SPDW SPDR Portfolio Developed World ex-US ETF 0.6 3 32 7.0 +2.3
TPIF Timothy Plan International ETF 0.6 62 -27 6.2 +1.6
IXUS iShares Core MSCI Total International Stock ETF 0.5 7 28 7.9 +3.3
ISCF iShares International SmallCap Equity Factor ETF 0.5 23 12 8.2 +3.5
UIVM VictoryShares International Value Momentum ETF 0.5 35 0 8.9 +4.3
DIHP Dimensional International High Profitability ETF 0.5 29 6 7.2 +2.5
FEOE First Eagle Overseas Equity ETF 0.5 79 -44 8.0 +3.4
IPAC iShares Core MSCI Pacific ETF 0.5 9 26 6.3 +1.7
BOUT Innovator IBD Breakout Opportunities ETF 0.5 81 -46 2.7 -1.9
VXUS Vanguard Total International Stock ETF 0.5 5 30 7.9 +3.2
DFAI Dimensional International Core Equity Market ETF 0.4 18 17 7.1 +2.5
STXI Strive International Developed Markets ETF 0.4 29 6 6.7 +2.0
DFSI Dimensional International Sustainability Core 1 ETF 0.4 24 11 6.3 +1.7
FENI Fidelity Enhanced International ETF 0.4 28 7 6.6 +1.9
ACWX iShares MSCI ACWI ex U.S. ETF 0.4 34 1 7.8 +3.1
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.4 33 2 8.8 +4.1
GQQQ Astoria US Quality Growth Kings ETF 0.4 35 0 4.6 -0.0
AVES Avantis Emerging Markets Value ETF 0.4 36 -1 11.1 +6.4
VPL Vanguard FTSE Pacific ETF 0.4 7 28 6.8 +2.2
CIL VictoryShares International Volatility Wtd ETF 0.4 45 -10 6.6 +1.9
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 5 7.7 +3.0
SCHF Schwab International Equity ETF 0.4 6 29 7.3 +2.6
FPXE First Trust IPOX Europe Equity Opportunities ETF 0.4 70 -35 4.8 +0.1
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.3 53 -18 7.9 +3.3
DLS WisdomTree International SmallCap Dividend Fund 0.3 58 -23 8.1 +3.4
VIGI Vanguard International Dividend Appreciation ETF 0.3 10 25 6.3 +1.7
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.3 38 -3 9.3 +4.6
DFAE Dimensional Emerging Core Equity Market ETF 0.3 35 0 9.4 +4.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.3 41 -6 8.7 +4.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.3 45 -10 8.8 +4.2
GLBL Pacer MSCI World Industry Advantage ETF 0.3 65 -30 4.1 -0.5
BKIE BNY Mellon International Equity ETF 0.3 4 31 7.0 +2.4
DFIV Dimensional International Value ETF 0.3 27 8 9.6 +4.9
BLES Inspire Global Hope ETF 0.3 61 -26 6.8 +2.1
INTF iShares International Equity Factor ETF 0.3 15 20 7.6 +2.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.3 4 31 8.1 +3.5
JPIN J.P. Morgan Diversified Return International Equity ETF 0.3 37 -2 8.3 +3.7
AVEM Avantis Emerging Markets Equity ETF 0.3 33 2 8.8 +4.1
KLMN Invesco MSCI North America Climate ETF 0.3 9 26 4.9 +0.3
GVLU Gotham 1000 Value ETF 0.3 50 -15 8.9 +4.2
AVSE Avantis Responsible Emerging Markets Equity ETF 0.3 33 2 8.6 +3.9
QLC FlexShares US Quality Large Cap Index Fund 0.2 25 10 5.4 +0.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 -6 7.5 +2.8
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.2 18 17 7.9 +3.2
FDEV Fidelity International Multifactor ETF 0.2 18 17 7.5 +2.8
RFDI First Trust Riverfront Dynamic Developed International ETF 0.2 83 -48 9.4 +4.7
FNDF Schwab Fundamental International Large Co. Index ETF 0.2 25 10 9.6 +4.9
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.2 12 23 5.2 +0.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 26 5.7 +1.0
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.2 24 11 7.4 +2.7
DIM WisdomTree International MidCap Dividend Fund 0.2 58 -23 7.5 +2.8
MCHI iShares MSCI China ETF 0.2 59 -24 17.7 +13.0
DMXF iShares ESG Advanced MSCI EAFE ETF 0.2 12 23 5.5 +0.8
KLMT Invesco MSCI Global Climate 500 ETF 0.2 10 25 5.7 +1.0
IEFA iShares Core MSCI EAFE ETF 0.2 7 28 7.0 +2.3
EFG iShares MSCI EAFE Growth ETF 0.2 36 -1 4.4 -0.3
TOK iShares MSCI Kokusai ETF 0.2 26 9 5.0 +0.3
VT Vanguard Total World Stock ETF 0.2 6 29 5.9 +1.2
URTH iShares MSCI World ETF 0.2 24 11 5.1 +0.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.2 39 -4 6.7 +2.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 15 5.6 +1.0
APIE ActivePassive International Equity ETF 0.2 45 -10 7.6 +2.9
JHMD John Hancock Multifactor Developed International ETF 0.2 39 -4 7.6 +2.9
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.2 25 10 7.1 +2.4
ACWI iShares MSCI ACWI ETF 0.1 32 3 5.5 +0.9
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.1 14 21 6.2 +1.5
GXC SPDR S&P China ETF 0.1 59 -24 15.4 +10.8
BKF iShares MSCI BIC ETF 0.1 69 -34 13.8 +9.1
IVLU iShares MSCI Intl Value Factor ETF 0.1 30 5 10.4 +5.7
RVRB Reverb ETF 0.1 30 5 4.5 -0.1
EEMO Invesco S&P Emerging Markets Momentum ETF 0.1 29 6 6.6 +1.9
DWMF WisdomTree International Multifactor Fund 0.1 38 -3 7.0 +2.4
ESGD iShares ESG Aware MSCI EAFE ETF 0.1 20 15 6.7 +2.1
FLCH Franklin FTSE China ETF 0.1 19 16 16.0 +11.3
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.1 20 15 6.3 +1.7
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 26 5.2 +0.5
EFA iShares MSCI EAFE ETF 0.1 35 0 6.7 +2.0
XMAG Defiance Large Cap ex-Mag 7 ETF 0.1 35 0 5.1 +0.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.1 36 -1 6.5 +1.9
GSID Goldman Sachs MarketBeta International Equity ETF 0.1 20 15 6.9 +2.2
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 15 7.1 +2.4
JIRE JPMorgan International Research Enhanced Equity ETF 0.1 24 11 7.2 +2.5
CRTC Xtrackers US National Critical Technologies ETF 0.1 35 0 4.8 +0.1
EEMA iShares MSCI Emerging Markets Asia ETF 0.1 49 -14 10.4 +5.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.1 30 5 10.6 +5.9
RODE Hartford Multifactor Diversified International ETF 0.1 29 6 11.4 +6.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.1 70 -35 9.5 +4.8
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.1 40 -5 7.4 +2.8
DWM WisdomTree International Equity Fund 0.1 48 -13 7.4 +2.7
SCHE Schwab Emerging Markets Equity ETF 0.1 11 24 11.1 +6.4
EEM iShares MSCI Emerging Markets ETF 0.1 69 -34 10.5 +5.8
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 5 5.9 +1.3
VWO Vanguard FTSE Emerging Markets ETF 0.0 7 28 10.3 +5.6
IEMG iShares Core MSCI Emerging Markets ETF 0.0 9 26 10.6 +6.0
ESGG FlexShares STOXX Global ESG Select Index Fund 0.0 42 -7 5.4 +0.7
FLAX Franklin FTSE Asia Ex Japan ETF 0.0 19 16 9.4 +4.8
GMF SPDR S&P Emerging Asia Pacific ETF 0.0 49 -14 9.6 +5.0
DIVI Franklin International Core Dividend Tilt Index ETF 0.0 9 26 7.9 +3.3
BKEM BNY Mellon Emerging Markets Equity ETF 0.0 11 24 10.2 +5.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 -31 9.7 +5.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.0 36 -1 10.0 +5.3
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.0 15 20 10.4 +5.7
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 28 10.7 +6.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.0 59 -24 9.0 +4.3
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.0 30 5 7.0 +2.3

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Themes Gold Miners ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.1 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.55 CATEGORY
AVERAGE		 1.63
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.