A Performance Max search theme is not ranked beneath your keywords in the auction — it is ranked level with the loose half of them. Google places search themes at the same priority as your phrase-match and broad-match keywords, which means a theme you added “to fill a gap” can quietly compete with the keywords you deliberately built, win queries you never bid on, and pull spend out of the Search campaign where you could actually see and manage the search term. That one fact about priority is the whole of this post, and most people who set a theme have no idea it outranks anything they own.
This is a different question from whether a theme beats a negative keyword, which it never does, and from the general problem of Performance Max cannibalizing Search — both are covered elsewhere. The narrow, under-appreciated mechanic here is the priority tier a theme occupies relative to your own keywords, and what follows from it: only an identical keyword reliably outranks a theme, so everywhere your coverage is loose, the theme is in the auction on equal terms. The rest of this post lays out the priority ladder exactly, shows how the cannibalization happens, and gives you a concrete audit you can run with the Google Ads UI open.
The priority ladder, exactly
Google resolves which of your matching keywords or themes enters the auction with a fixed priority order, and search themes sit higher in it than most advertisers assume. At the top is an identical keyword: if the user's query exactly matches one of your keywords — in any match type, with spelling corrections counted as identical — that keyword takes priority and everything else stands down. Below that, Google's own documentation states that search themes “will have the same prioritization as your phrase match and broad match keywords in Search campaigns”. So the ladder is: identical keyword first, then a tie between search themes and your phrase/broad keywords, resolved by Ad Rank, then the rest of Performance Max's keywordless matching.
The consequence of that middle rung is the entire problem. A search theme is not a hint that defers to your keyword structure; it is a peer of the fuzzy part of it. Search Engine Journal's walkthrough of the keyword prioritization rules makes the same point: an identical Search keyword blocks Performance Max, but absent that identity, the theme and your phrase or broad keyword go to Ad Rank. Plurals and synonyms are explicitly not identical, so “skydiving license” as an exact keyword does not shield you on “skydiving certification” — on that query, a theme competes at full phrase-match strength.
How a theme pulls spend off your keywords
Because the theme ties with your phrase and broad keywords rather than losing to them, a query your Search campaign would have served can instead be won by the Performance Max theme on Ad Rank. Nothing in the interface announces this. You set the theme, Performance Max accepts it, and over the following weeks the spend on a given intent gradually shifts from the Search campaign — where you can read the exact search term and add a negative — into Performance Max, where you see only approximate search categories. The money did not disappear; it moved to the campaign you can manage least.
The symptom you actually observe is indirect: Search-campaign impression share slipping on terms you thought you owned, while a Performance Max campaign's spend climbs on the same intent. Practitioners have been warning about exactly this — Lunio's guide to search themes frames them as a control that can quietly compete with your Search structure rather than a harmless suggestion. The reason it is so easy to miss is the same reason the PMax-versus-Search cannibalization problem is hard in general: no single report attributes the lost Search impression to the theme that took it.
Auditing your themes against your keywords
There is no screen that labels a theme as overlapping your keywords, so you build the cross-check by hand, and it is quick. Open each asset group's Search themes panel and list every theme you have set. Against that, list the queries your Search campaigns are meant to own — the intents behind your exact and phrase keywords. For every theme, ask the single question that decides whether it is helping or leaking: does this theme describe traffic my Search keywords already cover, or genuinely new intent they do not? A theme that restates your keywords is a route for spend to leave your managed campaign; a theme that reaches beyond them is doing the job it exists for.
Then confirm it against the evidence. In the Performance Max campaign, open the search terms report under Insights and reports and look at the query categories it is serving. Match-type reporting here is approximate by design — Performance Max exposes categories rather than raw terms, and the report is privacy-thresholded, so it will never reconcile to the exact query — but the pattern is readable: if a theme's described queries are growing in the Performance Max report while the same intent loses impression share in your Search campaign, the theme is cannibalizing. This is the mirror image of the match-type decision you make for keywords: there you choose how loosely a keyword matches; here you check how loosely a theme is matching on your behalf.
The fix: coverage first, pruning second
The instinct is to delete the offending theme, but the stronger first move is coverage, because an identical keyword always outranks a theme. If a theme is winning queries you care about, add those queries as keywords in your Search campaign: an identical keyword takes priority, pulls the traffic back into the campaign where you can read the exact search term, and lets you manage it with negatives the normal way. Coverage converts a query you were serving blindly through a theme into one you serve with full visibility, which is the entire point of keeping search terms clean.
Pruning is the second move, reserved for themes that overlap traffic your keywords already own well. Those themes add nothing but a leak, so remove them and let the Search campaign serve the intent. Keep the themes that extend past your keyword coverage into genuinely incremental intent — deleting those throws away the reach Performance Max was supposed to add. This belongs in the same routine as the rest of your Performance Max steering-control audit and the separate, never-overridden theme-versus-negative precedence check: three versions of the same discipline, which is to find where two of your own controls decide the same query before the spend report decides it for you.
Related reading
For the precedence question when a theme and a negative point at the same query, see search themes versus negative keywords in PMax. For detecting and fencing broader PMax-versus-Search overlap, see PMax search cannibalization, and for the keyword match-type decision the same loose-matching logic drives, see the broad, phrase and exact match decision for 2026.