An experimental study of a semi-cylindrical external magnetically insulated diode using a polyethylene film and the No. 25 transformer oil acting as anode discharging materials is carried out. The luminescence images of anode plasma and the ion beam current density are acquired using an intensity charge-coupled detector (ICCD) camera and a calibrated Faraday, respectively. The experimental results show that the ion beam current density of the No. 25 transformer oil is higher than that of the polyethylene film. The maximum ion beam current densities at the focus point of the No. 25 transformer oil and the polyethylene film are 325 A/cm2 and 310 A/cm2, respectively. Meanwhile, the lifetime of the No. 25 transformer oil is significantly longer than that of the conventional polyethylene film. The lifetime of the No. 25 transformer oil is about 5000 discharges, while that of the conventional polyethylene film is about 400 discharges. In addition, the ion beam current density of the No. 25 transformer oil is more stable than that of the polyethylene film, and the anode plasma of the No. 25 transformer oil is more uniform than that of the polyethylene film.