AUCP.L vs. EMDG.L
AUCP.L (L&G Gold Mining UCITS ETF) and EMDG.L (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF) are both exchange-traded funds - AUCP.L is a Gold fund tracking the STOXX Global Gold Miners, while EMDG.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, AUCP.L returned 23.87%/yr vs 3.95%/yr for EMDG.L. At a correlation of -0.12, they often move in opposite directions. AUCP.L charges 0.55%/yr vs 0.25%/yr for EMDG.L.
Performance
AUCP.L vs. EMDG.L - Performance Comparison
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Returns By Period
In the year-to-date period, AUCP.L achieves a -10.22% return, which is significantly lower than EMDG.L's 3.37% return.
AUCP.L
- 1D
- 1.39%
- 1M
- -11.29%
- YTD
- -10.22%
- 6M
- -14.31%
- 1Y
- 55.82%
- 3Y*
- 45.12%
- 5Y*
- 23.87%
- 10Y*
- 13.49%
EMDG.L
- 1D
- -0.37%
- 1M
- 2.37%
- YTD
- 3.37%
- 6M
- 3.90%
- 1Y
- 9.68%
- 3Y*
- 6.91%
- 5Y*
- 3.95%
- 10Y*
- —
AUCP.L vs. EMDG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AUCP.L L&G Gold Mining UCITS ETF | -10.22% | 161.99% | 20.20% | 8.69% | -4.04% | -8.91% | 1.69% |
EMDG.L L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 3.37% | 2.35% | 10.43% | 1.99% | 0.28% | 0.96% | -26.19% |
Correlation
The correlation between AUCP.L and EMDG.L is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | -0.12 |
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Return for Risk
AUCP.L vs. EMDG.L — Risk / Return Rank
AUCP.L
EMDG.L
AUCP.L vs. EMDG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Gold Mining UCITS ETF (AUCP.L) and L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMDG.L). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AUCP.L | EMDG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.29 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.57 | -1.01 |
| Martin ratioReturn relative to average drawdown | 4.09 | 7.46 | -3.37 |
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Drawdowns
AUCP.L vs. EMDG.L - Drawdown Comparison
The maximum AUCP.L drawdown since its inception was -81.66%, which is greater than EMDG.L's maximum drawdown of -30.84%. Use the drawdown chart below to compare losses from any high point for AUCP.L and EMDG.L.
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Drawdown Indicators
| AUCP.L | EMDG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.66% | -30.84% | -50.82% |
Max Drawdown (1Y)Largest decline over 1 year | -35.61% | -3.76% | -31.85% |
Max Drawdown (3Y)Largest decline over 3 years | -35.61% | -7.93% | -27.68% |
Max Drawdown (5Y)Largest decline over 5 years | -39.38% | -12.32% | -27.06% |
Max Drawdown (10Y)Largest decline over 10 years | -45.72% | — | — |
Current DrawdownCurrent decline from peak | -32.88% | -10.98% | -21.90% |
Average DrawdownAverage peak-to-trough decline | -45.85% | -22.05% | -23.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.60% | 1.29% | +12.31% |
Volatility
AUCP.L vs. EMDG.L - Volatility Comparison
L&G Gold Mining UCITS ETF (AUCP.L) has a higher volatility of 17.90% compared to L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMDG.L) at 1.82%. This indicates that AUCP.L's price experiences larger fluctuations and is considered to be riskier than EMDG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AUCP.L | EMDG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.90% | 1.82% | +16.08% |
Volatility (6M)Calculated over the trailing 6-month period | 37.14% | 4.27% | +32.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.44% | 5.94% | +40.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.29% | 7.86% | +31.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.09% | 13.19% | +22.90% |
AUCP.L vs. EMDG.L - Expense Ratio Comparison
AUCP.L has a 0.55% expense ratio, which is higher than EMDG.L's 0.25% expense ratio.
Dividends
AUCP.L vs. EMDG.L - Dividend Comparison
AUCP.L has not paid dividends to shareholders, while EMDG.L's dividend yield for the trailing twelve months is around 5.24%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
AUCP.L L&G Gold Mining UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMDG.L L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 5.24% | 5.95% | 5.95% | 4.65% | 2.91% | 1.21% |
Frequently Asked Questions
AUCP.L and EMDG.L have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMDG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMDG.L is cheaper with a 0.25% expense ratio, compared with 0.55% for AUCP.L.
AUCP.L is categorized as Gold, while EMDG.L is Emerging Markets Bonds. AUCP.L tracks STOXX Global Gold Miners, while EMDG.L tracks JPM EMBI Global Diversified TR USD. Their fees differ too: 0.55% for AUCP.L and 0.25% for EMDG.L.
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