AUMI vs GBUG

AUMIBThemes Gold Miners ETF

GBUGDSprott Active Gold & Silver Miners ETF

In short

AUMI Gold miners with the blends stripped out. AUMI tracks an index of roughly 30 large miners that must earn at least 90% of revenue from gold, and it charges less than the typical fund in its group.

GBUG Sprott is a precious-metals house first, an ETF shop second. GBUG is its stock-picker answer to index miner funds: an actively managed, value-oriented and contrarian book of roughly 50 gold and silver miners, explorers and royalty names.

Stated mandate

AUMI The Fund seeks to track, before fees and expenses, an index of companies active in the gold mining industry. It uses a passive/indexing approach to pursue that objective.

GBUG The ETF is actively managed and seeks long-term capital appreciation by investing in shares of companies focused on gold and silver exploration, development, mining, royalty, and streaming activities.

Why people hold it

• AUMI The "pure" in the index name is a rule: members must generate at least 90% of revenue from gold mining, so copper-and-gold conglomerates and diversified diggers stay out.solactive.comthemesetfs.com
• A 0.35% fee undercuts the peer-group median and the category's household names, VanEck's GDX (0.51%) and iShares' RING (0.39%).
• Roughly 30 names, free-float weighted, rebuilt on a set schedule: a concentrated, rules-based way to own the diggers rather than the metal.solactive.com

• GBUG Actively managed on a value-oriented, contrarian screen, so the book can lean toward beaten-up miners instead of whatever the market-cap index says is biggest.
• The mandate covers the whole chain: exploration, development, mining, royalty and streaming companies, not just the big producers.
• Roughly 50 holdings from a firm whose entire business is precious metals, so each pick carries real weight in the portfolio.

Worth knowing

• AUMI Thinly traded and small next to the group's giants, so bid-ask spreads can be wider and big orders can push the price.
• Concentrated by design and non-diversified: about 30 miners, one commodity, plus mine-level risks like costs, permits and politics.themesetfs.com
• Launched in December 2023, so the live track record is short, and cash comes back once or twice a year rather than monthly.

• GBUG Charges 0.90% a year, above the typical fund in the miners group; index rivals like GDX and RING run meaningfully cheaper.
• Launched in 2025, so the manager's record in this wrapper is short and any read on its risk profile rests on limited history.
• Thinly traded with a modest asset base, so spreads can run wider than the household-name miner ETFs.

Full AUMI profile⁠

Full GBUG profile⁠