BNQL.DE vs. G2X.DE
BNQL.DE (BNP Paribas Palladium ETC) and G2X.DE (VanEck Gold Miners UCITS ETF) are both Precious Metals funds - BNQL.DE tracks the Palladium Spot Price while G2X.DE tracks the NYSE Arca Gold Miners. Both are passively managed. Over the past 5 years, BNQL.DE returned -14.19%/yr vs 20.05%/yr for G2X.DE. At a 0.34 correlation, their price movements are largely independent. BNQL.DE charges 0.99%/yr vs 0.53%/yr for G2X.DE.
Performance
BNQL.DE vs. G2X.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BNQL.DE achieves a -17.76% return, which is significantly lower than G2X.DE's -1.03% return.
BNQL.DE
- 1D
- -1.06%
- 1M
- -11.56%
- YTD
- -17.76%
- 6M
- -8.41%
- 1Y
- 29.07%
- 3Y*
- -5.67%
- 5Y*
- -14.19%
- 10Y*
- —
G2X.DE
- 1D
- 1.09%
- 1M
- 0.55%
- YTD
- -1.03%
- 6M
- 7.50%
- 1Y
- 61.05%
- 3Y*
- 37.60%
- 5Y*
- 20.05%
- 10Y*
- 13.83%
BNQL.DE vs. G2X.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNQL.DE BNP Paribas Palladium ETC | -17.76% | 58.42% | -16.10% | -40.26% | -4.34% | -10.11% | 10.43% | 53.40% | 21.86% | 38.20% |
G2X.DE VanEck Gold Miners UCITS ETF | -1.03% | 131.13% | 17.55% | 5.59% | -0.02% | -4.26% | 13.26% | 40.97% | -4.37% | -5.31% |
Correlation
The correlation between BNQL.DE and G2X.DE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2016 | 0.34 |
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Return for Risk
BNQL.DE vs. G2X.DE — Risk / Return Rank
BNQL.DE
G2X.DE
BNQL.DE vs. G2X.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Palladium ETC (BNQL.DE) and VanEck Gold Miners UCITS ETF (G2X.DE). 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.
| BNQL.DE | G2X.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.25 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | 2.18 | -1.40 |
| Martin ratioReturn relative to average drawdown | 1.68 | 5.49 | -3.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BNQL.DE | G2X.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 1.42 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | 0.60 | -0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.44 | -0.33 |
Drawdowns
BNQL.DE vs. G2X.DE - Drawdown Comparison
The maximum BNQL.DE drawdown since its inception was -73.80%, which is greater than G2X.DE's maximum drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for BNQL.DE and G2X.DE.
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Drawdown Indicators
| BNQL.DE | G2X.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.80% | -46.04% | -27.76% |
Max Drawdown (1Y)Largest decline over 1 year | -37.28% | -27.90% | -9.38% |
Max Drawdown (3Y)Largest decline over 3 years | -43.58% | -27.90% | -15.68% |
Max Drawdown (5Y)Largest decline over 5 years | -73.80% | -38.55% | -35.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.04% | — |
Current DrawdownCurrent decline from peak | -61.09% | -23.34% | -37.75% |
Average DrawdownAverage peak-to-trough decline | -32.15% | -19.92% | -12.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.30% | 11.09% | +6.21% |
Volatility
BNQL.DE vs. G2X.DE - Volatility Comparison
The current volatility for BNP Paribas Palladium ETC (BNQL.DE) is 10.31%, while VanEck Gold Miners UCITS ETF (G2X.DE) has a volatility of 13.57%. This indicates that BNQL.DE experiences smaller price fluctuations and is considered to be less risky than G2X.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNQL.DE | G2X.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 13.57% | -3.26% |
Volatility (6M)Calculated over the trailing 6-month period | 37.75% | 34.36% | +3.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.71% | 42.64% | +3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.30% | 33.16% | +12.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 32.33% | +8.44% |
BNQL.DE vs. G2X.DE - Expense Ratio Comparison
BNQL.DE has a 0.99% expense ratio, which is higher than G2X.DE's 0.53% expense ratio.
Dividends
BNQL.DE vs. G2X.DE - Dividend Comparison
Neither BNQL.DE nor G2X.DE has paid dividends to shareholders.
Frequently Asked Questions
BNQL.DE and G2X.DE have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, G2X.DE is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.
G2X.DE is cheaper with a 0.53% expense ratio, compared with 0.99% for BNQL.DE.
BNQL.DE tracks Palladium Spot Price, while G2X.DE tracks NYSE Arca Gold Miners. They also come from different issuers: BNP Paribas and VanEck. Their fees differ too: 0.99% for BNQL.DE and 0.53% for G2X.DE.
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