AUCP.L vs. VGIVX

Last updated Jun 13, 2026

AUCP.L (L&G Gold Mining UCITS ETF) and VGIVX (Vanguard Emerging Markets Government Bond Index Fund Institutional Shares) are both funds - AUCP.L is a Precious Metals fund tracking the STOXX Global Gold Miners, while VGIVX is a Government Bonds fund managed by Vanguard. Over the past 10 years, AUCP.L returned 15.25%/yr vs 4.17%/yr for VGIVX. At a 0.05 correlation, their price movements are largely independent. AUCP.L charges 0.55%/yr vs 0.18%/yr for VGIVX.

Performance

AUCP.L vs. VGIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Gold Mining UCITS ETF (AUCP.L) and Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AUCP.L is traded in GBp, while VGIVX is traded in USD. To make them comparable, the VGIVX 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 VGIVX's 1.94% return. Over the past 10 years, AUCP.L has outperformed VGIVX with an annualized return of 15.25%, while VGIVX has yielded a comparatively lower 4.17% annualized 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%

VGIVX

• 1D: 0.12%
• 1M: 0.60%
• YTD: 1.94%
• 6M: 1.72%
• 1Y: 11.61%
• 3Y*: 6.96%
• 5Y*: 3.11%
• 10Y*: 4.17%

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

AUCP.L vs. VGIVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUCP.L L&G Gold Mining UCITS ETF	-7.67%	161.99%	20.20%	8.69%	-4.04%	-8.91%	17.60%	39.53%	-5.63%	0.57%
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares	1.94%	5.00%	8.16%	4.96%	-6.82%	-1.48%	2.72%	9.69%	3.05%	-0.91%

Correlation

The correlation between AUCP.L and VGIVX is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	-0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.05

Return for Risk

AUCP.L vs. VGIVX — 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: 35
AUCP.L Sharpe Ratio Rank: 38
AUCP.L Sortino Ratio Rank: 36
AUCP.L Omega Ratio Rank: 36
AUCP.L Calmar Ratio Rank: 35
AUCP.L Martin Ratio Rank: 33

VGIVX

VGIVX Risk / Return Rank: 78
VGIVX Sharpe Ratio Rank: 87
VGIVX Sortino Ratio Rank: 89
VGIVX Omega Ratio Rank: 85
VGIVX Calmar Ratio Rank: 65
VGIVX Martin Ratio Rank: 66

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. VGIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Gold Mining UCITS ETF (AUCP.L) and Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX). 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	VGIVX	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.77	-0.58
Sortino ratio: Return per unit of downside risk	1.69	2.54	-0.85
Omega ratio: Gain probability vs. loss probability	1.21	1.34	-0.13
Calmar ratio: Return relative to maximum drawdown	1.52	2.40	-0.89
Martin ratio: Return relative to average drawdown	4.30	6.80	-2.50

AUCP.L vs. VGIVX - Sharpe Ratio Comparison

The current AUCP.L Sharpe Ratio is 1.20, which is lower than the VGIVX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of AUCP.L and VGIVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AUCP.L vs. VGIVX - Drawdown Comparison

The maximum AUCP.L drawdown since its inception was -81.66%, which is greater than VGIVX's maximum drawdown of -16.84%. Use the drawdown chart below to compare losses from any high point for AUCP.L and VGIVX.

Drawdown Indicators

	AUCP.L	VGIVX	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-16.84%	-64.82%
Max Drawdown (1Y) Largest decline over 1 year	-35.61%	-4.70%	-30.91%
Max Drawdown (3Y) Largest decline over 3 years	-35.61%	-8.80%	-26.81%
Max Drawdown (5Y) Largest decline over 5 years	-39.38%	-13.08%	-26.30%
Max Drawdown (10Y) Largest decline over 10 years	-45.72%	-16.84%	-28.88%
Current Drawdown Current decline from peak	-30.97%	-0.52%	-30.45%
Average Drawdown Average peak-to-trough decline	-45.88%	-5.82%	-40.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.55%	1.66%	+10.89%

Volatility

AUCP.L vs. VGIVX - Volatility Comparison

L&G Gold Mining UCITS ETF (AUCP.L) has a higher volatility of 14.66% compared to Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX) at 1.61%. This indicates that AUCP.L's price experiences larger fluctuations and is considered to be riskier than VGIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUCP.L	VGIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.66%	1.61%	+13.05%
Volatility (6M) Calculated over the trailing 6-month period	35.37%	4.98%	+30.39%
Volatility (1Y) Calculated over the trailing 1-year period	45.10%	6.38%	+38.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.96%	8.42%	+30.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.19%	9.71%	+26.48%

AUCP.L vs. VGIVX - Expense Ratio Comparison

AUCP.L has a 0.55% expense ratio, which is higher than VGIVX's 0.18% expense ratio.

Dividends

AUCP.L vs. VGIVX - Dividend Comparison

AUCP.L has not paid dividends to shareholders, while VGIVX's dividend yield for the trailing twelve months is around 5.89%.

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%
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares	5.89%	5.95%	6.58%	5.53%	5.32%	3.53%	4.21%	4.62%	4.62%	4.67%	4.76%	4.55%

Frequently Asked Questions

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

AUCP.L and VGIVX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.