AUCP.L vs. GBPC.L
AUCP.L (L&G Gold Mining UCITS ETF) and GBPC.L (L&G ESG GBP Corporate Bond UCITS ETF) are both exchange-traded funds - AUCP.L is a Gold fund tracking the STOXX Global Gold Miners, while GBPC.L is a European Corporate Bonds fund tracking the Markit iBoxx GBP NonGilts TR. Both are passively managed. Over the past 5 years, AUCP.L returned 23.87%/yr vs -0.09%/yr for GBPC.L. At a 0.23 correlation, their price movements are largely independent. AUCP.L charges 0.55%/yr vs 0.09%/yr for GBPC.L.
Performance
AUCP.L vs. GBPC.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AUCP.L achieves a -10.22% return, which is significantly lower than GBPC.L's 1.14% 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%
GBPC.L
- 1D
- -0.08%
- 1M
- 1.16%
- YTD
- 1.14%
- 6M
- 1.39%
- 1Y
- 4.65%
- 3Y*
- 6.87%
- 5Y*
- -0.09%
- 10Y*
- —
AUCP.L vs. GBPC.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% |
GBPC.L L&G ESG GBP Corporate Bond UCITS ETF | 1.14% | 6.83% | 2.78% | 8.35% | -17.11% | -3.03% | 1.71% |
Correlation
The correlation between AUCP.L and GBPC.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.23 |
The correlation between AUCP.L and GBPC.L shifts across timeframes, from 0.22 (5 years) to 0.32 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AUCP.L vs. GBPC.L — Risk / Return Rank
AUCP.L
GBPC.L
AUCP.L vs. GBPC.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 GBP Corporate Bond UCITS ETF (GBPC.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 | GBPC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.14 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.12 | +0.44 |
| Martin ratioReturn relative to average drawdown | 4.09 | 3.67 | +0.43 |
Loading charts...
Drawdowns
AUCP.L vs. GBPC.L - Drawdown Comparison
The maximum AUCP.L drawdown since its inception was -81.66%, which is greater than GBPC.L's maximum drawdown of -28.45%. Use the drawdown chart below to compare losses from any high point for AUCP.L and GBPC.L.
Loading charts...
Drawdown Indicators
| AUCP.L | GBPC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.66% | -28.45% | -53.21% |
Max Drawdown (1Y)Largest decline over 1 year | -35.61% | -4.14% | -31.47% |
Max Drawdown (3Y)Largest decline over 3 years | -35.61% | -4.14% | -31.47% |
Max Drawdown (5Y)Largest decline over 5 years | -39.38% | -27.69% | -11.69% |
Max Drawdown (10Y)Largest decline over 10 years | -45.72% | — | — |
Current DrawdownCurrent decline from peak | -32.88% | -3.70% | -29.18% |
Average DrawdownAverage peak-to-trough decline | -45.85% | -10.82% | -35.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.60% | 1.27% | +12.33% |
Volatility
AUCP.L vs. GBPC.L - Volatility Comparison
L&G Gold Mining UCITS ETF (AUCP.L) has a higher volatility of 17.90% compared to L&G ESG GBP Corporate Bond UCITS ETF (GBPC.L) at 1.44%. This indicates that AUCP.L's price experiences larger fluctuations and is considered to be riskier than GBPC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AUCP.L | GBPC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.90% | 1.44% | +16.46% |
Volatility (6M)Calculated over the trailing 6-month period | 37.14% | 5.14% | +32.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.44% | 6.24% | +40.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.29% | 7.85% | +31.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.09% | 7.59% | +28.50% |
AUCP.L vs. GBPC.L - Expense Ratio Comparison
AUCP.L has a 0.55% expense ratio, which is higher than GBPC.L's 0.09% expense ratio.
Dividends
AUCP.L vs. GBPC.L - Dividend Comparison
AUCP.L has not paid dividends to shareholders, while GBPC.L's dividend yield for the trailing twelve months is around 5.09%.
| 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% |
GBPC.L L&G ESG GBP Corporate Bond UCITS ETF | 5.09% | 5.00% | 4.86% | 3.58% | 2.16% | 0.87% |
Frequently Asked Questions
AUCP.L and GBPC.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GBPC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBPC.L is cheaper with a 0.09% expense ratio, compared with 0.55% for AUCP.L.
AUCP.L is categorized as Gold, while GBPC.L is European Corporate Bonds. AUCP.L tracks STOXX Global Gold Miners, while GBPC.L tracks Markit iBoxx GBP NonGilts TR. Their fees differ too: 0.55% for AUCP.L and 0.09% for GBPC.L.
Find the right allocation for AUCP.L and GBPC.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer