SPAM vs SLVX

Comparison between THEMES CYBERSECURITY ETF (SPAM, ETF) and NICHOLAS SILVER INCOME ETF (SLVX, ETF).

SPAM vs SLVX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPAM(ETF)	SLVX(ETF)
Net Assets	$3.20M	$3.20M
Expense Ratio	0.35%	1.16%
Max Drawdown	24.39%	44.17%
Sharpe Ratio	0.63	-0.88
5Y Beta	1.04	2.74
P/E Ratio	1060.85	N/A
Forward P/E	28.85	N/A
PEG Ratio	1.61	N/A
5Y EPS CAGR	9.99%	N/A
Debt to Equity	30.38%	N/A
P/S Ratio	4.65	N/A
P/B Ratio	5.82	N/A

Net Assets

SPAM

$3.20M

SLVX

$3.20M

Expense Ratio

Winner

SPAM

0.35%

SLVX

1.16%

Max Drawdown

Winner

SPAM

24.39%

SLVX

44.17%

Sharpe Ratio

Winner

SPAM

0.63

SLVX

-0.88

5Y Beta

Winner

SPAM

1.04

SLVX

2.74

P/E Ratio

SPAM

1060.85

SLVX

N/A

Forward P/E

SPAM

28.85

SLVX

N/A

PEG Ratio

SPAM

1.61

SLVX

N/A

5Y EPS CAGR

SPAM

9.99%

SLVX

N/A

Debt to Equity

SPAM

30.38%

SLVX

N/A

P/S Ratio

SPAM

4.65

SLVX

N/A

P/B Ratio

SPAM

5.82

SLVX

N/A

SPAM vs SLVX - Holdings Comparison

SPAM and SLVX have 1 common holdings. Overlap is -11.16%

SPAM's top 25 holdings weight is 104.23%. SLVX's top 25 holdings weight is 111.78%.

Rank	SPAM	SLVX
#1	OTHER ASSETS AND LIABILITIES (n/a) - 11.19%	OTHER ASSETS AND LIABILITIES (n/a) - 34.69%
#2	OKTA INC CLASS A (OKTA) - 6.28%	ABRDN PHYSICAL SILVER SHARES ETF (SIVR) - 32.89%
#3	CROWDSTRIKE HOLDINGS INC CLASS A (CRWD) - 6.10%	SSR MINING INC (n/a) - 4.20%
#4	NEBIUS GROUP NV SHS CLASS-A- (NBIS) - 6.01%	PAN AMERICAN SILVER CORP (n/a) - 3.68%
#5	FORTINET INC (FTNT) - 5.80%	SILVERCORP METALS INC (n/a) - 3.46%
#6	RUBRIK INC CLASS A SHARES (RBRK) - 5.61%	FIRST MAJESTIC SILVER CORP (n/a) - 3.42%
#7	PALO ALTO NETWORKS INC (PANW) - 5.60%	FORTUNA MINING CORP (n/a) - 3.03%
#8	AKAMAI TECHNOLOGIES INC (AKAM) - 4.60%	WHEATON PRECIOUS METALS CORP (n/a) - 2.91%
#9	BLACKBERRY LTD (n/a) - 4.46%	OR ROYALTIES INC (OR) - 2.89%
#10	F5 INC (FFIV) - 4.37%	COEUR MINING INC (CDE) - 2.71%
#11	SENTINELONE INC CLASS A (S) - 4.06%	HYCROFT MINING HOLDING CORP ORDINARY SHARES CLASS A (HYMC) - 2.60%
#12	NEXTDC LTD (n/a) - 4.01%	ENDEAVOUR SILVER CORP (EXK) - 2.58%
#13	ZSCALER INC (ZS) - 3.71%	HECLA MINING CO (HL) - 2.48%
#14	TREND MICRO INC (n/a) - 3.66%	AMERICAS GOLD AND SILVER CORP (n/a) - 2.36%
#15	CLEAR SECURE INC ORDINARY SHARES CLASS A (YOU) - 3.65%	CASH OFFSET (n/a) - 2.19%
#16	BOOZ ALLEN HAMILTON HOLDING CORP CLASS A (BAH) - 3.18%	SIVR US 06/18/26 C76 (n/a) - 0.90%
#17	CHECK POINT SOFTWARE TECHNOLOGIES LTD (CHKP) - 3.10%	HYMC US 06/18/26 P33 (n/a) - 0.84%
#18	VARONIS SYSTEMS INC (VRNS) - 3.01%	USAS US 06/18/26 P6 (n/a) - 0.82%
#19	QUALYS INC (QLYS) - 2.99%	AG US 06/12/26 P19.5 (n/a) - 0.79%
#20	CACI INTERNATIONAL INC CLASS A (CACI) - 2.93%	SVM US 07/17/26 P10 (n/a) - 0.52%
#21	TENABLE HOLDINGS INC (TENB) - 2.61%	SSRM US 06/18/26 P33 (n/a) - 0.51%
#22	FASTLY INC CLASS A (FSLY) - 2.19%	CDE US 06/12/26 P18 (n/a) - 0.39%
#23	NETSKOPE INC ORDINARY SHARES CLASS A (NTSK) - 1.78%	OR US 06/18/26 P35 (n/a) - 0.31%
#24	A10 NETWORKS INC (ATEN) - 1.69%	SSRM US 06/18/26 P29 (n/a) - 0.31%
#25	NETCOMPANY GROUP AS (n/a) - 1.64%	PAAS US 06/12/26 P48 (n/a) - 0.30%
Total Holdings	46	58

SPAM vs SLVX - Historical Returns

Returns include dividend reinvestment.

Period	SPAM	SLVX
1 month	+8.11%	-9.01%
3 months	+28.84%	-15.04%
6 months	+22.58%	N/A
1 year	+20.31%	N/A
Max(CAGR)	+18.93%	-40.22%

Winner

SPAM

+8.11%

SLVX

-9.01%

Winner

SPAM

+28.84%

SLVX

-15.04%

SPAM

+22.58%

SLVX

N/A

SPAM

+20.31%

SLVX

N/A

Max(CAGR)

Winner

SPAM

+18.93%

SLVX

-40.22%

SPAM vs SLVX - Annual Returns (2023 - 2026)

Returns include dividend reinvestment.

Year	SPAM	SLVX
2026	+27.89%	-15.20%
2025	+4.91%	N/A
2024	+13.62%	N/A
2023	+5.42%	N/A

SPAM vs SLVX Drawdown Comparison

The maximum drawdown for SPAM was -24.02%, occurring on Feb 23, 2026. Recovery took 151 trading sessions.

The maximum drawdown for SLVX was -40.32%, occurring on Jun 10, 2026. This drawdown has not yet recovered.

The current SPAM drawdown is -9.04%. The current SLVX drawdown is -30.07%.

Rank	SPAM	SLVX
#1	-24.02% Oct 9, 2025 - May 18, 2026	-40.32% Feb 27, 2026 - Jun 10, 2026
#2	-22.21% Feb 18, 2025 - Jun 26, 2025	N/A
#3	-13.19% Feb 9, 2024 - Oct 9, 2024	N/A
#4	-12.04% Jun 1, 2026 - Jun 10, 2026	N/A
#5	-7.63% Jun 30, 2025 - Sep 9, 2025	N/A
#6	-6.53% Dec 4, 2024 - Feb 4, 2025	N/A
#7	-6.00% Dec 26, 2023 - Jan 12, 2024	N/A
#8	-4.77% Nov 11, 2024 - Nov 26, 2024	N/A
#9	-4.49% Oct 14, 2024 - Nov 6, 2024	N/A
#10	-3.89% May 26, 2026 - May 29, 2026	N/A
#11	-2.31% Jan 29, 2024 - Feb 7, 2024	N/A
#12	-2.01% Sep 22, 2025 - Oct 2, 2025	N/A
#13	-1.95% Dec 19, 2023 - Dec 26, 2023	N/A
#14	-1.93% Oct 6, 2025 - Oct 8, 2025	N/A
#15	-1.76% Jan 12, 2024 - Jan 22, 2024	N/A

Correlation

Correlation between SPAM and SLVX is -0.52 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.52

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