AUCP.L vs. USVN
AUCP.L (L&G Gold Mining UCITS ETF) and USVN (US Treasury 7 Year Note ETF) are both exchange-traded funds - AUCP.L is a Precious Metals fund tracking the STOXX Global Gold Miners, while USVN is a Government Bonds fund tracking the ICE BofA Current 7-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, AUCP.L returned 44.14%/yr vs 0.96%/yr for USVN. At a correlation of -0.06, they often move in opposite directions. AUCP.L charges 0.55%/yr vs 0.15%/yr for USVN.
Performance
AUCP.L vs. USVN - Performance Comparison
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Different Trading Currencies
AUCP.L is traded in GBp, while USVN is traded in USD. To make them comparable, the USVN 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 -7.67% return, which is significantly lower than USVN's -0.03% return.
AUCP.L
- 1D
- 5.97%
- 1M
- -15.23%
- YTD
- -7.67%
- 6M
- -6.42%
- 1Y
- 50.86%
- 3Y*
- 44.14%
- 5Y*
- 22.06%
- 10Y*
- 15.25%
USVN
- 1D
- -0.08%
- 1M
- 0.13%
- YTD
- -0.03%
- 6M
- -0.52%
- 1Y
- 4.64%
- 3Y*
- 0.96%
- 5Y*
- —
- 10Y*
- —
AUCP.L vs. USVN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AUCP.L L&G Gold Mining UCITS ETF | -7.67% | 161.99% | 20.20% | 1.79% |
USVN US Treasury 7 Year Note ETF | -0.03% | -0.01% | 1.78% | -2.45% |
Correlation
The correlation between AUCP.L and USVN is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | -0.06 |
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Return for Risk
AUCP.L vs. USVN — Risk / Return Rank
AUCP.L
USVN
AUCP.L vs. USVN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Gold Mining UCITS ETF (AUCP.L) and US Treasury 7 Year Note ETF (USVN). 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 | USVN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.13 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 0.78 | +0.74 |
| Martin ratioReturn relative to average drawdown | 4.30 | 1.92 | +2.38 |
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Drawdowns
AUCP.L vs. USVN - Drawdown Comparison
The maximum AUCP.L drawdown since its inception was -81.66%, which is greater than USVN's maximum drawdown of -7.81%. Use the drawdown chart below to compare losses from any high point for AUCP.L and USVN.
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Drawdown Indicators
| AUCP.L | USVN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.66% | -7.81% | -73.85% |
Max Drawdown (1Y)Largest decline over 1 year | -35.61% | -6.04% | -29.57% |
Max Drawdown (3Y)Largest decline over 3 years | -35.61% | -7.52% | -28.09% |
Max Drawdown (5Y)Largest decline over 5 years | -39.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.72% | — | — |
Current DrawdownCurrent decline from peak | -30.97% | -3.23% | -27.74% |
Average DrawdownAverage peak-to-trough decline | -45.88% | -3.65% | -42.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.55% | 2.43% | +10.12% |
Volatility
AUCP.L vs. USVN - Volatility Comparison
L&G Gold Mining UCITS ETF (AUCP.L) has a higher volatility of 14.66% compared to US Treasury 7 Year Note ETF (USVN) at 1.29%. This indicates that AUCP.L's price experiences larger fluctuations and is considered to be riskier than USVN 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 | USVN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.66% | 1.29% | +13.37% |
Volatility (6M)Calculated over the trailing 6-month period | 35.37% | 4.92% | +30.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.10% | 6.44% | +38.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.96% | 7.31% | +31.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.19% | 7.31% | +28.88% |
AUCP.L vs. USVN - Expense Ratio Comparison
AUCP.L has a 0.55% expense ratio, which is higher than USVN's 0.15% expense ratio.
Dividends
AUCP.L vs. USVN - Dividend Comparison
AUCP.L has not paid dividends to shareholders, while USVN's dividend yield for the trailing twelve months is around 3.74%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AUCP.L L&G Gold Mining UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
USVN US Treasury 7 Year Note ETF | 3.74% | 3.81% | 4.07% | 2.91% |
Frequently Asked Questions
AUCP.L and USVN have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USVN is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USVN is cheaper with a 0.15% expense ratio, compared with 0.55% for AUCP.L.
AUCP.L is categorized as Precious Metals, while USVN is Government Bonds. AUCP.L tracks STOXX Global Gold Miners, while USVN tracks ICE BofA Current 7-Year US Treasury Index - Benchmark TR Gross. They also come from different issuers: Legal & General and US Benchmark Series. Their fees differ too: 0.55% for AUCP.L and 0.15% for USVN.
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