Themes Gold Miners ETF
ALTAR
Score™		 3.7% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 18.6x P/Sales
ratio		 4.3x
P/BV
ratio		 3.4x Div.
yield		 1.2%


  • 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) $23
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 26
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
ZHAOJIN MINING INDUSTRY - H 5.4 %
EQUINOX GOLD CORP. 5.2 %
IAMGOLD CORP 5.0 %
NORTHERN STAR RESOURCES LTD 4.8 %
ANGLOGOLD ASHANTI-SPON ADR 4.7 %
GOLD FIELDS LTD-SPONS ADR 4.7 %
KINROSS GOLD CORP 4.6 %
ALAMOS GOLD INC. 4.5 %
B2GOLD CORP 4.4 %
OCEANAGOLD CORP 4.4 %
Total 47.8 %

TOP COUNTRY EXPOSURE
CANADA 50.7 %
AUSTRALIA 28.9 %
SOUTH AFRICA 9.9 %
CHINA 5.4 %
BRITAIN 4.6 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
127.9% 113.9% -- -- 85.7%

Market Correlations
versus... Beta R-squared
S&P500 -0.14 0%
MSCI EAFE -0.42 2%
MSCI Emg. Mkts. -0.23 1%

Technical Indicators
Recent close $80.75
30d moving avg. $75.82
Annualized volatility 33.2%
Short interest (ETF) 6.4%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 20
Turnover 7.1%
Bid/Ask (% of price) 0.36%
ADV underlying (mns) $182

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 189 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™: 3.7%


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 47.5 65 -30 2.5 -1.2
SGDM Sprott Gold Miners ETF 29.5 50 -15 2.9 -0.9
RING iShares MSCI Global Gold Miners ETF 25.4 39 -4 3.8 +0.1
GOAU U.S. Global GO GOLD and Precious Metal Miners ETF 21.1 60 -25 3.3 -0.4
SGDJ Sprott Junior Gold Miners ETF 20.4 50 -15 3.3 -0.4
GDXJ VanEck Junior Gold Miners ETF 20.0 52 -17 3.7 -0.1
GDX VanEck Gold Miners ETF 17.3 51 -16 2.9 -0.8
SLVP iShares MSCI Global Silver Miners ETF 14.6 39 -4 5.4 +1.7
AVDV Avantis International Small Cap Value ETF 9.4 36 -1 9.4 +5.7
NANR SPDR S&P North American Natural Resources ETF 8.7 35 0 7.8 +4.1
CGV Conductor Global Equity Value ETF 7.0 130 -95 8.5 +4.8
FFTY Innovator IBD 50 ETF 6.0 80 -45 -2.3 -6.0
FTWO Strive FAANG 2.0 ETF 6.0 49 -14 4.1 +0.4
AFK VanEck Africa Index ETF 5.6 98 -63 11.5 +7.8
GNR SPDR S&P Global Natural Resources ETF 5.6 40 -5 11.1 +7.4
IMOM Alpha Architect International Quantitative Momentum ETF 5.3 49 -14 3.2 -0.5
MXI iShares Global Materials ETF 5.1 41 -6 7.6 +3.9
EWC iShares MSCI Canada ETF 4.9 50 -15 6.0 +2.3
FXZ First Trust Materials AlphaDEX Fund 4.7 61 -26 10.3 +6.6
CCNR ALPS CoreCommodity Natural Resources ETF 4.7 39 -4 10.5 +6.8
IVAL Alpha Architect International Quantitative Value ETF 4.5 49 -14 10.1 +6.4
ABEQ Absolute Select Value ETF 4.4 85 -50 4.8 +1.1
LIVR Intelligent Livermore ETF 4.2 69 -34 5.2 +1.5
FLCA Franklin FTSE Canada ETF 4.0 9 26 6.4 +2.7
OAIM OneAscent International Equity ETF 3.6 95 -60 5.8 +2.1
BBCA JPMorgan BetaBuilders Canada ETF 3.6 19 16 6.3 +2.6
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 3.6 46 -11 10.0 +6.3
LST Leuthold Select Industries ETF 3.5 91 -56 5.1 +1.4
SCHC Schwab International Small-Cap Equity ETF 3.4 11 24 6.7 +3.0
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 3.3 80 -45 10.8 +7.1
FTRI First Trust Indxx Global Natural Resources Income ETF 3.1 70 -35 7.6 +3.9
AVDS Avantis International Small Cap Equity ETF 2.9 30 5 7.3 +3.6
DIVL Madison Dividend Value ETF 2.9 65 -30 6.1 +2.4
VIDI Vident International Equity Strategy ETF 2.8 61 -26 11.1 +7.4
MBOX Freedom Day Dividend ETF 2.8 39 -4 7.6 +3.9
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 2.7 8 27 6.2 +2.5
GWX SPDR S&P International Small Cap ETF 2.5 40 -5 6.1 +2.4
CBSE Clough Select Equity ETF 2.4 85 -50 0.9 -2.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 2.4 39 -4 8.0 +4.3
IDMO Invesco S&P International Developed Momentum ETF 2.2 25 10 5.4 +1.7
FDT First Trust Developed Markets ex-US AlphaDEX Fund 2.2 80 -45 9.6 +5.9
AVIV Avantis International Large Cap Value ETF 1.8 25 10 8.6 +4.9
IMTM iShares MSCI Intl Momentum Factor ETF 1.8 30 5 5.5 +1.8
FCA First Trust China AlphaDEX Fund 1.7 80 -45 8.3 +4.6
DFIS Dimensional International Small Cap ETF 1.7 39 -4 7.4 +3.7
AVDE Avantis International Equity ETF 1.7 23 12 7.4 +3.7
PPIE Putnam PanAgora ESG International Equity ETF 1.6 49 -14 7.4 +3.7
HAP VanEck Natural Resources ETF 1.5 50 -15 9.3 +5.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 1.5 49 -14 7.0 +3.3
DISV Dimensional International Small Cap Value ETF 1.4 42 -7 9.1 +5.4
ROE Astoria US Quality Kings ETF 1.4 49 -14 6.7 +3.0
EWA iShares MSCI Australia ETF 1.4 50 -15 5.8 +2.1
COPY Tweedy, Browne Insider + Value ETF 1.4 80 -45 12.1 +8.4
DARP Grizzle Growth ETF 1.4 75 -40 2.8 -1.0
PIZ Invesco Dorsey Wright Developed Markets Momentum ETF 1.4 80 -45 5.0 +1.3
FNDC Schwab Fundamental International Small Co. Index ETF 1.4 39 -4 5.9 +2.2
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.3 50 -15 6.2 +2.5
FRDM Freedom 100 Emerging Markets ETF 1.3 49 -14 8.2 +4.5
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 1.3 80 -45 9.3 +5.6
QINT American Century Quality Diversified International ETF 1.3 39 -4 7.4 +3.7
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.2 90 -55 7.2 +3.5
AVSD Avantis Responsible International Equity ETF 1.2 23 12 5.7 +2.0
PABD iShares Paris-Aligned Climate MSCI World ex USA ETF 1.2 12 23 6.0 +2.3
ROAM Hartford Multifactor Emerging Markets ETF 1.2 44 -9 12.2 +8.5
QLV FlexShares US Quality Low Volatility Index Fund 1.1 22 13 5.6 +1.9
FLAU Franklin FTSE Australia ETF 1.1 9 26 6.2 +2.5
IGRO iShares International Dividend Growth ETF 1.1 15 20 7.4 +3.7
COPA Themes Copper Miners ETF 1.0 35 0 4.9 +1.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.0 30 5 8.0 +4.3
DXIV Dimensional International Vector Equity ETF 0.9 34 1 8.0 +4.3
FEGE First Eagle Global Equity ETF 0.9 79 -44 6.9 +3.2
UMMA Wahed Dow Jones Islamic World ETF 0.9 65 -30 5.3 +1.6
WWJD Inspire International ETF 0.9 80 -45 7.5 +3.8
EPP iShares MSCI Pacific ex-Japan ETF 0.9 47 -12 5.2 +1.5
DEHP Dimensional Emerging Markets High Profitability ETF 0.9 41 -6 6.7 +3.0
IDEV iShares Core MSCI International Developed Markets ETF 0.9 4 31 7.0 +3.3
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.9 19 16 6.0 +2.3
SCZ iShares MSCI EAFE Small-Cap ETF 0.8 40 -5 7.0 +3.3
TPIF Timothy Plan International ETF 0.8 62 -27 6.4 +2.7
UIVM VictoryShares International Value Momentum ETF 0.8 35 0 9.2 +5.5
VSGX Vanguard ESG International Stock ETF 0.7 10 25 7.7 +4.0
VEA Vanguard FTSE Developed Markets ETF 0.7 3 32 7.3 +3.6
FEM First Trust Emerging Markets AlphaDEX Fund 0.7 80 -45 11.6 +7.9
DFIC Dimensional International Core Equity 2 ETF 0.7 23 12 7.5 +3.8
SPDW SPDR Portfolio Developed World ex-US ETF 0.7 3 32 7.0 +3.3
AVES Avantis Emerging Markets Value ETF 0.7 36 -1 11.3 +7.6
IVRA Invesco Real Assets ESG ETF 0.7 59 -24 6.4 +2.7
ISCF iShares International SmallCap Equity Factor ETF 0.6 23 12 8.3 +4.6
STXI Strive International Developed Markets ETF 0.6 29 6 6.7 +3.0
IQLT iShares MSCI Intl Quality Factor ETF 0.6 30 5 6.3 +2.6
IXUS iShares Core MSCI Total International Stock ETF 0.6 7 28 7.9 +4.2
GVLU Gotham 1000 Value ETF 0.6 50 -15 9.2 +5.5
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.6 33 2 8.7 +5.0
BOUT Innovator IBD Breakout Opportunities ETF 0.6 81 -46 2.9 -0.9
IPAC iShares Core MSCI Pacific ETF 0.6 9 26 6.5 +2.8
VXUS Vanguard Total International Stock ETF 0.6 5 30 7.9 +4.2
DIHP Dimensional International High Profitability ETF 0.5 29 6 7.2 +3.5
CIL VictoryShares International Volatility Wtd ETF 0.5 45 -10 6.8 +3.1
FENI Fidelity Enhanced International ETF 0.5 28 7 6.6 +2.9
DFAI Dimensional International Core Equity Market ETF 0.5 18 17 7.2 +3.5
DFSI Dimensional International Sustainability Core 1 ETF 0.5 24 11 6.4 +2.7
FEOE First Eagle Overseas Equity ETF 0.5 79 -44 7.9 +4.2
VPL Vanguard FTSE Pacific ETF 0.5 7 28 7.0 +3.3
ACWX iShares MSCI ACWI ex U.S. ETF 0.5 34 1 7.7 +4.0
DLS WisdomTree International SmallCap Dividend Fund 0.5 58 -23 8.3 +4.6
BLES Inspire Global Hope ETF 0.5 61 -26 6.9 +3.2
GQQQ Astoria US Quality Growth Kings ETF 0.5 35 0 4.7 +1.0
BKIE BNY Mellon International Equity ETF 0.5 4 31 7.1 +3.4
AVEM Avantis Emerging Markets Equity ETF 0.5 33 2 8.7 +5.0
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 5 7.6 +3.9
FPXE First Trust IPOX Europe Equity Opportunities ETF 0.4 70 -35 5.0 +1.3
VIGI Vanguard International Dividend Appreciation ETF 0.4 10 25 6.5 +2.8
SCHF Schwab International Equity ETF 0.4 6 29 7.3 +3.6
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.4 53 -18 7.9 +4.2
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.4 38 -3 9.3 +5.6
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 0 9.4 +5.7
AVSE Avantis Responsible Emerging Markets Equity ETF 0.4 33 2 8.5 +4.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.4 41 -6 8.8 +5.1
INTF iShares International Equity Factor ETF 0.4 15 20 7.7 +4.0
QLC FlexShares US Quality Large Cap Index Fund 0.4 25 10 5.4 +1.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.4 45 -10 8.9 +5.2
GLBL Pacer MSCI World Industry Advantage ETF 0.3 65 -30 4.2 +0.5
FDEV Fidelity International Multifactor ETF 0.3 18 17 7.6 +3.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.3 41 -6 7.4 +3.7
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.3 18 17 8.0 +4.3
JPIN J.P. Morgan Diversified Return International Equity ETF 0.3 37 -2 8.6 +4.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.3 4 31 8.2 +4.5
KLMN Invesco MSCI North America Climate ETF 0.3 9 26 5.0 +1.3
APIE ActivePassive International Equity ETF 0.3 45 -10 7.5 +3.8
RFDI First Trust Riverfront Dynamic Developed International ETF 0.3 83 -48 9.6 +5.9
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.3 24 11 7.7 +4.0
FNDF Schwab Fundamental International Large Co. Index ETF 0.3 25 10 9.6 +5.9
DFIV Dimensional International Value ETF 0.2 27 8 9.8 +6.1
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.2 12 23 5.2 +1.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 26 5.7 +2.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 0.2 25 10 7.2 +3.5
DIM WisdomTree International MidCap Dividend Fund 0.2 58 -23 7.8 +4.1
MCHI iShares MSCI China ETF 0.2 59 -24 17.7 +14.0
DMXF iShares ESG Advanced MSCI EAFE ETF 0.2 12 23 5.6 +1.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.2 39 -4 6.8 +3.1
IEFA iShares Core MSCI EAFE ETF 0.2 7 28 7.1 +3.4
EFG iShares MSCI EAFE Growth ETF 0.2 36 -1 4.4 +0.7
FLCH Franklin FTSE China ETF 0.2 19 16 15.9 +12.2
VT Vanguard Total World Stock ETF 0.2 6 29 5.9 +2.2
TOK iShares MSCI Kokusai ETF 0.2 26 9 5.0 +1.3
KLMT Invesco MSCI Global Climate 500 ETF 0.2 10 25 5.8 +2.1
URTH iShares MSCI World ETF 0.2 24 11 5.1 +1.4
JHMD John Hancock Multifactor Developed International ETF 0.2 39 -4 7.7 +4.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 15 5.7 +2.0
ACWI iShares MSCI ACWI ETF 0.2 32 3 5.6 +1.9
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 0.2 14 21 6.2 +2.5
BKF iShares MSCI BIC ETF 0.2 69 -34 13.8 +10.1
GXC SPDR S&P China ETF 0.2 59 -24 15.5 +11.8
IVLU iShares MSCI Intl Value Factor ETF 0.1 30 5 10.6 +6.9
EEMO Invesco S&P Emerging Markets Momentum ETF 0.1 29 6 6.8 +3.1
DWMF WisdomTree International Multifactor Fund 0.1 38 -3 7.2 +3.5
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 26 5.2 +1.5
RVRB Reverb ETF 0.1 30 5 4.6 +0.9
ESGD iShares ESG Aware MSCI EAFE ETF 0.1 20 15 6.8 +3.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 0.1 20 15 6.4 +2.7
EFA iShares MSCI EAFE ETF 0.1 35 0 6.8 +3.1
RODE Hartford Multifactor Diversified International ETF 0.1 29 6 11.5 +7.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 0.1 36 -1 6.5 +2.8
CRTC Xtrackers US National Critical Technologies ETF 0.1 35 0 4.8 +1.1
XMAG Defiance Large Cap ex-Mag 7 ETF 0.1 35 0 5.2 +1.5
EEMA iShares MSCI Emerging Markets Asia ETF 0.1 49 -14 10.2 +6.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 0.1 40 -5 7.5 +3.8
DWM WisdomTree International Equity Fund 0.1 48 -13 7.5 +3.8
GSID Goldman Sachs MarketBeta International Equity ETF 0.1 20 15 7.0 +3.3
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 15 7.1 +3.4
JIRE JPMorgan International Research Enhanced Equity ETF 0.1 24 11 7.2 +3.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.1 30 5 10.3 +6.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.1 70 -35 9.3 +5.6
SCHE Schwab Emerging Markets Equity ETF 0.1 11 24 11.0 +7.3
BKEM BNY Mellon Emerging Markets Equity ETF 0.1 11 24 10.1 +6.4
FLAX Franklin FTSE Asia Ex Japan ETF 0.1 19 16 9.2 +5.5
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.1 15 20 10.3 +6.6
EEM iShares MSCI Emerging Markets ETF 0.1 69 -34 10.2 +6.5
VWO Vanguard FTSE Emerging Markets ETF 0.1 7 28 10.3 +6.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.1 66 -31 9.4 +5.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.1 36 -1 9.7 +6.0
IEMG iShares Core MSCI Emerging Markets ETF 0.1 9 26 10.5 +6.8
ESGG FlexShares STOXX Global ESG Select Index Fund 0.1 42 -7 5.4 +1.7
QWLD SPDR MSCI World StrategicFactors ETF 0.0 30 5 6.0 +2.3
GMF SPDR S&P Emerging Asia Pacific ETF 0.0 49 -14 9.5 +5.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.0 59 -24 9.0 +5.3
DIVI Franklin International Core Dividend Tilt Index ETF 0.0 9 26 8.1 +4.4
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 28 10.6 +6.9
QEFA SPDR MSCI EAFE StrategicFactors ETF 0.0 30 5 7.1 +3.4

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 3.0 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 3.7 %
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.