ENCG.L vs. GDIG.L
Compare and contrast key facts about L&G Multi-Strategy Enhanced Commodities UCITS ETF (ENCG.L) and VanEck S&P Global Mining UCITS ETF (GDIG.L).
ENCG.L and GDIG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ENCG.L is a passively managed fund by Legal & General that tracks the performance of the Barclays Backwardation Tilt Multi-Strategy Capped. It was launched on Jul 5, 2021. GDIG.L is a passively managed fund by VanEck that tracks the performance of the S&P Global Mining Reduced Coal Index. It was launched on Apr 18, 2018. Both ENCG.L and GDIG.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
ENCG.L vs. GDIG.L - Performance Comparison
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ENCG.L vs. GDIG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ENCG.L L&G Multi-Strategy Enhanced Commodities UCITS ETF | 20.48% | 0.89% | 5.39% | -7.83% | 38.17% | 13.94% |
GDIG.L VanEck S&P Global Mining UCITS ETF | 17.93% | 77.01% | -7.08% | -0.65% | 15.96% | 0.73% |
Different Trading Currencies
ENCG.L is traded in GBp, while GDIG.L is traded in USD. To make them comparable, the GDIG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, ENCG.L achieves a 20.48% return, which is significantly higher than GDIG.L's 17.93% return.
ENCG.L
- 1D
- -2.81%
- 1M
- 7.92%
- YTD
- 20.48%
- 6M
- 21.71%
- 1Y
- 17.04%
- 3Y*
- 7.44%
- 5Y*
- —
- 10Y*
- —
GDIG.L
- 1D
- 6.35%
- 1M
- -10.75%
- YTD
- 17.93%
- 6M
- 36.73%
- 1Y
- 93.90%
- 3Y*
- 24.02%
- 5Y*
- 18.52%
- 10Y*
- —
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ENCG.L vs. GDIG.L - Expense Ratio Comparison
ENCG.L has a 0.30% expense ratio, which is lower than GDIG.L's 0.50% expense ratio.
Return for Risk
ENCG.L vs. GDIG.L — Risk / Return Rank
ENCG.L
GDIG.L
ENCG.L vs. GDIG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Multi-Strategy Enhanced Commodities UCITS ETF (ENCG.L) and VanEck S&P Global Mining UCITS ETF (GDIG.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.
| ENCG.L | GDIG.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.03 | 2.87 | -1.84 |
Sortino ratioReturn per unit of downside risk | 1.43 | 3.25 | -1.82 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.46 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | 2.06 | 4.15 | -2.09 |
Martin ratioReturn relative to average drawdown | 4.77 | 18.13 | -13.36 |
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
| ENCG.L | GDIG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 2.87 | -1.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.62 | +0.17 |
Correlation
The correlation between ENCG.L and GDIG.L is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ENCG.L vs. GDIG.L - Dividend Comparison
Neither ENCG.L nor GDIG.L has paid dividends to shareholders.
Drawdowns
ENCG.L vs. GDIG.L - Drawdown Comparison
The maximum ENCG.L drawdown since its inception was -26.32%, smaller than the maximum GDIG.L drawdown of -33.58%. Use the drawdown chart below to compare losses from any high point for ENCG.L and GDIG.L.
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Drawdown Indicators
| ENCG.L | GDIG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.32% | -40.03% | +13.71% |
Max Drawdown (1Y)Largest decline over 1 year | -10.66% | -24.08% | +13.42% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.03% | — |
Current DrawdownCurrent decline from peak | -3.27% | -12.40% | +9.13% |
Average DrawdownAverage peak-to-trough decline | -13.47% | -12.75% | -0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 5.93% | -2.31% |
Volatility
ENCG.L vs. GDIG.L - Volatility Comparison
The current volatility for L&G Multi-Strategy Enhanced Commodities UCITS ETF (ENCG.L) is 7.63%, while VanEck S&P Global Mining UCITS ETF (GDIG.L) has a volatility of 15.38%. This indicates that ENCG.L experiences smaller price fluctuations and is considered to be less risky than GDIG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENCG.L | GDIG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.63% | 15.38% | -7.75% |
Volatility (6M)Calculated over the trailing 6-month period | 11.79% | 28.32% | -16.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 32.52% | -16.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.88% | 28.16% | -10.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.88% | 27.49% | -9.61% |