At a glance
AUMI charges 0.35% a year, below the 0.5% average of the 5 funds most like it (the cheapest of 6). It has $24.7M in assets, the 6th largest of that group; it paid 0.92% of its price in distributions over the past 12 months, annual. Over the past year it returned +17.8% with distributions reinvested (S&P 500: +11.5%), 3rd of those 6 funds. Its ten largest positions make up 46.6% of the fund, out of 31 in all.
The short version
Themes Gold Miners ETF (AUMI) is an index fund tracking the Solactive Global Pure Gold Miners Index: 20 to 30 companies earning at least 90% of their revenue from gold mining, mostly in Canada and Australia. Its 0.35% annual expense ratio is lower than that of all five similar gold-miner ETFs we compared, which average 0.50%. The trade-offs: it is tiny, with about $24.7 million in net assets as of June 30, 2026, and very volatile.
Price history
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AUMI +17.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| AUMI official prospectus, to Dec 31, 2025 | — | +170.94% | — | — | — | +91.50% |
| AUMI price data to Oct 27, 2026 | -4.9% | +17.8% | — | — | — | +53.5% |
- Over the year to Oct 27, 2026, AUMI returned +17.8%, 3rd of 6 among similar funds.
- Its worst full calendar year was 2024 (+30.6%); its best was 2025 (+164.2%).
- The deepest fall in its price history was 39.8% (Feb 27, 2026 to Jul 20, 2026), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -4.9% | — |
| 2025 | +164.2% | +170.94% |
| 2024 | +30.6% | +27.09% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.8000 | +23.1% |
| 2024 | $0.6500 |
What's inside
As of Jun 30, 2026, the fund held 31 securities; the ten largest made up 46.59% of assets.
| Holding | Weight | |
|---|---|---|
| Endeavour Mining PLC | 5.30% | |
| DPM Metals Inc | 5.22% | |
| Anglogold Ashanti Plc | 4.88% | |
| IAMGOLD Corp | 4.82% | |
| Agnico Eagle Mines Ltd | 4.73% | |
| Kinross Gold Corp | 4.56% | |
| Alamos Gold Inc | 4.42% | |
| Northern Star Resources Ltd | 4.31% | |
| OceanaGold Corp | 4.29% | |
| Gold Fields Ltd | 4.07% | |
| Equinox Gold Corp | 4.06% | |
| Lundin Gold Inc | 4.00% | |
| G Mining Ventures Corp | 3.73% | |
| B2Gold Corp | 3.49% | |
| Perseus Mining Ltd | 3.33% |
By country
Canada 57.1%Australia 23.77%South Africa 5.66%United Kingdom 5.3%United States 4.88%By asset type
Stocks 99.28%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -3.27%, -0.87%, -15.80%.
How it works
AUMI is an index fund. It aims to match the Solactive Global Pure Gold Miners Index before fees, and it does not turn defensive when markets fall. Solactive AG sets the index rules and is independent of the fund's adviser, Themes Management Company. To join, a company must earn at least 95% of its revenue from gold mining. It also needs at least $1 billion in free float market value, which is the value of the shares open to public investors. Existing members need only 90% and $750 million. Trading-volume minimums also apply. The largest 20 to 30 qualifiers make the index, which held 25 companies as of December 31, 2025.
The lineup is reset once a year, effective after the last business day in February. To limit trading, a current member is dropped only if it ranks more than 10 places beyond the 30-company maximum. Each company is weighted by free float market value, with a cap of 4.75%. Weights are set at the annual review and again in late August. Between resets, weights can drift above the cap: Endeavour Mining was 5.3% as of June 30, 2026.
The fund keeps at least 80% of net assets in index stocks or their depositary receipts, which are certificates that let foreign shares trade on other exchanges. It owns miners, not gold, so it can lag or beat the gold price. It held no derivatives as of June 30, 2026.
What it really costs
- AUMI charges 0.35% a year, versus an average of 0.5% for the similar funds below (1st of 6, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $36 in the first year and $443 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| AUMI | $36 | $113 | $197 | $443 |
In a retirement portfolio
With annualized volatility, a measure of how widely returns swing, of 53.3% over the year to October 27, 2026, this single-industry fund fits a small slice of a portfolio, not its foundation.
AUMI could add focused exposure to gold producers, but its record is short. It launched in December 2023, so it has no history from the 2008, 2020 or 2022 downturns. The weaker of its two full calendar years, 2024, still returned 27.09%. But the price fell 39.8% from February 27 to July 20, 2026, and had not recovered by October 27, 2026. A retiree who needed cash near that low would have locked in a deep loss. Income is minor: the yield over the past year was 0.92% as of October 27, 2026, paid once a year. Its 0.35% expense ratio is the lowest among the similar funds compared. The SEC's standard $10,000 example shows $36 in costs after one year and $443 over 10 years. Past results don't predict future returns, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking low-cost gold-miner exposure: AUMI's 0.35% expense ratio is below all five similar ETFs compared, which average 0.50%.
- Those wanting "pure" gold miners, meaning companies earning at least 90% of revenue from gold mining, with each weight capped at 4.75% at rebalancing.
- Investors able to keep a small, higher-risk side position through drops like the 39.8% fall from February to July 2026.
Look elsewhere if
- Investors wanting the gold price itself: AUMI owns mining shares, which its prospectus says can lag or beat bullion over short or long periods.
- Those wary of very small funds: AUMI had about $24.7 million in net assets as of June 30, 2026, versus $22.8 billion at GDX.
- Investors seeking income or a long record: the yield was 0.92% as of October 27, 2026, paid annually, and the fund launched in December 2023.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| AUMI this fund | — | 0.35% | $24.7M | +17.8% | — |
| GDXJ VanEck Junior Gold Miners ETF | 39% | 0.52% | $7.08B | +15.8% | +46.9% |
| SGDM Sprott Gold Miners ETF | 39% | 0.5% | $558.7M | +24.9% | +43.9% |
| GDX VanEck Gold Miners ETF | 38% | 0.51% | $22.75B | +10.6% | +42.6% |
| RING iShares MSCI Global Gold Miners ETF | 35% | 0.39% | $2.52B | +22.8% | +49.4% |
| GOAU US Global GO GOLD and Precious Metal Miners… | 25% | 0.6% | $164.8M | +13.3% | +39.5% |
Questions investors ask
What does AUMI invest in?
AUMI invests in gold mining stocks. As of June 30, 2026, it had 31 holdings. The largest were Endeavour Mining (5.3%), DPM Metals (5.2%), AngloGold Ashanti (4.9%), IAMGOLD (4.8%) and Agnico Eagle Mines (4.7%). The top 10 made up 46.6% of assets. Canadian companies were 57.1% of the fund and Australian ones 23.8%, with smaller slices in South Africa, the UK, the US and China. Cash was about 0.5%.
What's the difference between AUMI and GDX?
AUMI is cheaper and far smaller. It charges 0.35% a year, versus 0.51% for VanEck Gold Miners ETF (GDX). As of June 30, 2026, AUMI had about $24.7 million in net assets and GDX had $22.8 billion. Their holdings overlapped by 38% in their latest SEC holdings reports. AUMI's index requires new members to earn at least 95% of revenue from gold mining. Over one year, AUMI's price rose 17.8% through October 27, 2026, while GDX gained 6.5% through October 30, 2026.
Does AUMI pay dividends?
Yes, but the payout is small and comes once a year. AUMI paid about $0.80 per share in the year to October 27, 2026, a yield of 0.92%. The money comes from dividends paid by the mining companies it holds, so the amount can vary from year to year. It pays only once a year and the yield is low, so the fund is built for gold-miner exposure rather than regular income.
Is AUMI the same as owning gold?
No. AUMI owns shares of gold mining companies, not gold bullion. Its prospectus warns that miners can do better or worse than the gold price over the short or long term. Miners also carry business risks that gold does not, such as competition and costly exploration that may never produce a working mine. Most holdings are outside the US, which adds currency risk. The result is a bumpier ride: one-year volatility, a measure of how widely returns swing, was 53.3% as of October 27, 2026.
How has AUMI performed since launch?
AUMI has posted huge gains with big swings. Its prospectus shows returns of 27.09% in 2024 and 170.94% in 2025. That is an average of 91.5% a year from launch through December 31, 2025. Its strongest quarter, which ended September 30, 2025, gained 43.78%. In 2026 the price fell 39.8% from February 27 to July 20, and the fund was down 4.9% for 2026 through October 27. Its one-year price return to October 27, 2026 was 17.8%.