AUCO.L vs. AG

Last updated Jun 9, 2026

AUCO.L (L&G Gold Mining UCITS ETF) is Gold fund tracking the STOXX Global Gold Miners Index, while AG (First Majestic Silver Corp.) is a stock. Over the past 10 years, AUCO.L returned 14.35%/yr vs 3.02%/yr for AG. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

AUCO.L vs. AG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L&G Gold Mining UCITS ETF (AUCO.L) and First Majestic Silver Corp. (AG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUCO.L achieves a -8.56% return, which is significantly lower than AG's -0.60% return. Over the past 10 years, AUCO.L has outperformed AG with an annualized return of 14.35%, while AG has yielded a comparatively lower 3.02% annualized return.

AUCO.L

• 1D: -1.44%
• 1M: -16.15%
• YTD: -8.56%
• 6M: -1.88%
• 1Y: 54.19%
• 3Y*: 46.28%
• 5Y*: 20.71%
• 10Y*: 14.35%

AG

• 1D: -3.67%
• 1M: -24.27%
• YTD: -0.60%
• 6M: 7.53%
• 1Y: 98.98%
• 3Y*: 42.72%
• 5Y*: -1.78%
• 10Y*: 3.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AUCO.L vs. AG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUCO.L L&G Gold Mining UCITS ETF	-8.56%	181.83%	17.96%	15.02%	-14.30%	-10.12%	21.72%	44.14%	-10.42%	10.00%
AG First Majestic Silver Corp.	-0.60%	204.32%	-10.47%	-25.99%	-24.73%	-17.24%	9.62%	108.15%	-12.61%	-11.66%

Correlation

The correlation between AUCO.L and AG is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Dec 15, 2010	0.55

The correlation between AUCO.L and AG shifts across timeframes, from 0.55 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AUCO.L vs. AG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AUCO.L

AUCO.L Risk / Return Rank: 35
AUCO.L Sharpe Ratio Rank: 36
AUCO.L Sortino Ratio Rank: 35
AUCO.L Omega Ratio Rank: 35
AUCO.L Calmar Ratio Rank: 38
AUCO.L Martin Ratio Rank: 33

AG

AG Risk / Return Rank: 77
AG Sharpe Ratio Rank: 81
AG Sortino Ratio Rank: 77
AG Omega Ratio Rank: 75
AG Calmar Ratio Rank: 77
AG Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AUCO.L vs. AG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Gold Mining UCITS ETF (AUCO.L) and First Majestic Silver Corp. (AG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AUCO.L	AG	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.36	-0.18
Sortino ratio: Return per unit of downside risk	1.67	1.97	-0.31
Omega ratio: Gain probability vs. loss probability	1.21	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.70	2.06	-0.37
Martin ratio: Return relative to average drawdown	4.45	4.95	-0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUCO.L vs. AG - Sharpe Ratio Comparison

The current AUCO.L Sharpe Ratio is 1.18, which is comparable to the AG Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of AUCO.L and AG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AUCO.L	AG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	1.36	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	-0.03	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.05	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.02	+0.18

Drawdowns

AUCO.L vs. AG - Drawdown Comparison

The maximum AUCO.L drawdown since its inception was -78.30%, smaller than the maximum AG drawdown of -90.20%. Use the drawdown chart below to compare losses from any high point for AUCO.L and AG.

Drawdown Indicators

	AUCO.L	AG	Difference
Max Drawdown Largest peak-to-trough decline	-78.30%	-90.20%	+11.90%
Max Drawdown (1Y) Largest decline over 1 year	-31.80%	-48.28%	+16.48%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	-48.28%	+16.48%
Max Drawdown (5Y) Largest decline over 5 years	-48.62%	-76.74%	+28.12%
Max Drawdown (10Y) Largest decline over 10 years	-54.47%	-80.82%	+26.35%
Current Drawdown Current decline from peak	-31.80%	-48.28%	+16.48%
Average Drawdown Average peak-to-trough decline	-40.79%	-59.19%	+18.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.15%	20.05%	-7.90%

Volatility

AUCO.L vs. AG - Volatility Comparison

The current volatility for L&G Gold Mining UCITS ETF (AUCO.L) is 15.14%, while First Majestic Silver Corp. (AG) has a volatility of 24.69%. This indicates that AUCO.L experiences smaller price fluctuations and is considered to be less risky than AG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUCO.L	AG	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.14%	24.69%	-9.55%
Volatility (6M) Calculated over the trailing 6-month period	36.64%	58.00%	-21.36%
Volatility (1Y) Calculated over the trailing 1-year period	45.89%	73.13%	-27.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.20%	61.67%	-23.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.40%	61.96%	-26.56%

Dividends

AUCO.L vs. AG - Dividend Comparison

AUCO.L has not paid dividends to shareholders, while AG's dividend yield for the trailing twelve months is around 0.21%.

Position	TTM	2025	2024	2023	2022	2021
AG First Majestic Silver Corp.	0.21%	0.12%	0.33%	0.34%	0.31%	0.14%
AUCO.L L&G Gold Mining UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AUCO.L and AG in my portfolio?

AUCO.L and AG have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.