AUCP.L vs. GDXJ

Last updated Jun 5, 2026

AUCP.L (L&G Gold Mining UCITS ETF) and GDXJ (VanEck Junior Gold Miners ETF) are both exchange-traded funds - AUCP.L is a Precious Metals fund tracking the STOXX Global Gold Miners, while GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index. Both are passively managed. Over the past 10 years, AUCP.L returned 16.41%/yr vs 13.82%/yr for GDXJ. A 0.58 correlation means they provide meaningful diversification when combined. AUCP.L charges 0.55%/yr vs 0.52%/yr for GDXJ.

Performance

AUCP.L vs. GDXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Gold Mining UCITS ETF (AUCP.L) and VanEck Junior Gold Miners ETF (GDXJ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AUCP.L is traded in GBp, while GDXJ is traded in USD. To make them comparable, the GDXJ values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, AUCP.L achieves a -0.57% return, which is significantly higher than GDXJ's -1.25% return. Over the past 10 years, AUCP.L has outperformed GDXJ with an annualized return of 16.41%, while GDXJ has yielded a comparatively lower 13.82% annualized return.

AUCP.L

• 1D: 0.71%
• 1M: -0.45%
• YTD: -0.57%
• 6M: 4.66%
• 1Y: 65.77%
• 3Y*: 46.06%
• 5Y*: 23.58%
• 10Y*: 16.41%

GDXJ

• 1D: 0.92%
• 1M: -0.21%
• YTD: -1.25%
• 6M: 6.27%
• 1Y: 66.96%
• 3Y*: 42.51%
• 5Y*: 18.95%
• 10Y*: 13.82%

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

AUCP.L vs. GDXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUCP.L L&G Gold Mining UCITS ETF	-0.57%	161.99%	20.20%	8.69%	-4.04%	-8.91%	17.60%	39.53%	-5.63%	0.57%
GDXJ VanEck Junior Gold Miners ETF	-1.25%	152.89%	17.69%	1.77%	-4.37%	-20.50%	26.57%	35.10%	-5.75%	-1.14%

Correlation

The correlation between AUCP.L and GDXJ is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Nov 12, 2009	0.58

The correlation between AUCP.L and GDXJ shifts across timeframes, from 0.58 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.

AUCP.L vs. GDXJ - Sectors Allocation Comparison

Sectors	AUCP.L	GDXJ
Basic Materials	100.0%	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

AUCP.L vs. GDXJ — Risk / Return Rank

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

AUCP.L

AUCP.L Risk / Return Rank: 41
AUCP.L Sharpe Ratio Rank: 43
AUCP.L Sortino Ratio Rank: 39
AUCP.L Omega Ratio Rank: 39
AUCP.L Calmar Ratio Rank: 46
AUCP.L Martin Ratio Rank: 37

GDXJ

GDXJ Risk / Return Rank: 37
GDXJ Sharpe Ratio Rank: 38
GDXJ Sortino Ratio Rank: 34
GDXJ Omega Ratio Rank: 38
GDXJ Calmar Ratio Rank: 42
GDXJ Martin Ratio Rank: 33

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.

AUCP.L vs. GDXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Gold Mining UCITS ETF (AUCP.L) and VanEck Junior Gold Miners ETF (GDXJ). 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.

	AUCP.L	GDXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.41	+0.08
Sortino ratio: Return per unit of downside risk	1.97	1.83	+0.14
Omega ratio: Gain probability vs. loss probability	1.25	1.25	-0.01
Calmar ratio: Return relative to maximum drawdown	2.21	2.09	+0.13
Martin ratio: Return relative to average drawdown	5.70	5.22	+0.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUCP.L vs. GDXJ - Sharpe Ratio Comparison

The current AUCP.L Sharpe Ratio is 1.49, which is comparable to the GDXJ Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of AUCP.L and GDXJ, 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

	AUCP.L	GDXJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	1.41	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.50	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.33	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.09	+0.17

Drawdowns

AUCP.L vs. GDXJ - Drawdown Comparison

The maximum AUCP.L drawdown since its inception was -77.57%, smaller than the maximum GDXJ drawdown of -87.31%. Use the drawdown chart below to compare losses from any high point for AUCP.L and GDXJ.

Drawdown Indicators

	AUCP.L	GDXJ	Difference
Max Drawdown Largest peak-to-trough decline	-77.57%	-87.31%	+9.74%
Max Drawdown (1Y) Largest decline over 1 year	-29.56%	-32.22%	+2.66%
Max Drawdown (3Y) Largest decline over 3 years	-29.56%	-32.22%	+2.66%
Max Drawdown (5Y) Largest decline over 5 years	-39.38%	-37.40%	-1.98%
Max Drawdown (10Y) Largest decline over 10 years	-45.72%	-51.61%	+5.89%
Current Drawdown Current decline from peak	-25.67%	-28.02%	+2.35%
Average Drawdown Average peak-to-trough decline	-35.74%	-55.60%	+19.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.51%	12.88%	-1.37%

Volatility

AUCP.L vs. GDXJ - Volatility Comparison

The current volatility for L&G Gold Mining UCITS ETF (AUCP.L) is 13.97%, while VanEck Junior Gold Miners ETF (GDXJ) has a volatility of 15.79%. This indicates that AUCP.L experiences smaller price fluctuations and is considered to be less risky than GDXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUCP.L	GDXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.97%	15.79%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	34.06%	39.34%	-5.28%
Volatility (1Y) Calculated over the trailing 1-year period	43.95%	47.78%	-3.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.99%	37.84%	-1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.66%	42.20%	-7.54%

AUCP.L vs. GDXJ - Expense Ratio Comparison

AUCP.L has a 0.55% expense ratio, which is higher than GDXJ's 0.52% expense ratio.

Dividends

AUCP.L vs. GDXJ - Dividend Comparison

AUCP.L has not paid dividends to shareholders, while GDXJ's dividend yield for the trailing twelve months is around 2.37%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUCP.L L&G Gold Mining UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GDXJ VanEck Junior Gold Miners ETF	2.37%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%

Frequently Asked Questions

Can I hold both AUCP.L and GDXJ in my portfolio?

AUCP.L and GDXJ have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AUCP.L or GDXJ?

On fees, GDXJ is cheaper at 0.52% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AUCP.L or GDXJ?

GDXJ is cheaper with a 0.52% expense ratio, compared with 0.55% for AUCP.L.

What is the main difference between AUCP.L and GDXJ?

AUCP.L is categorized as Precious Metals, while GDXJ is Gold. AUCP.L tracks STOXX Global Gold Miners, while GDXJ tracks MVIS Global Junior Gold Miners Index. They also come from different issuers: Legal & General and VanEck. Their fees differ too: 0.55% for AUCP.L and 0.52% for GDXJ.