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ETLX.DE vs. GDX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ETLX.DE vs. GDX

Last updated Apr 2, 2026

Compare and contrast key facts about L&G Gold Mining UCITS ETF (ETLX.DE) and VanEck Gold Miners ETF (GDX).

ETLX.DE and GDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ETLX.DE is a passively managed fund by Legal & General that tracks the performance of the DAXglobal® Gold Miners. It was launched on Sep 11, 2008. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE MarketVector Global Gold Miners Index. It was launched on May 16, 2006. Both ETLX.DE and GDX 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

ETLX.DE vs. GDX - Performance Comparison

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

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ETLX.DE vs. GDX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ETLX.DE
L&G Gold Mining UCITS ETF		10.94%152.55%27.41%11.05%-7.10%-3.32%12.25%42.55%-5.79%-3.18%
GDX
VanEck Gold Miners ETF		13.66%124.54%17.94%6.68%-3.37%-2.76%13.47%43.00%-4.49%-1.78%
Different Trading Currencies

ETLX.DE is traded in EUR, while GDX is traded in USD. To make them comparable, the GDX values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ETLX.DE achieves a 10.94% return, which is significantly lower than GDX's 13.66% return. Over the past 10 years, ETLX.DE has outperformed GDX with an annualized return of 19.58%, while GDX has yielded a comparatively lower 17.89% annualized return.

ETLX.DE

1D
7.67%
1M
-13.88%
YTD
10.94%
6M
28.07%
1Y
103.62%
3Y*
52.43%
5Y*
29.10%
10Y*
19.58%

GDX

1D
4.51%
1M
-15.88%
YTD
13.66%
6M
27.16%
1Y
97.02%
3Y*
42.30%
5Y*
25.54%
10Y*
17.89%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

L&G Gold Mining UCITS ETF

VanEck Gold Miners ETF

Often compared with ETLX.DE:
ETLX.DE vs. VHVE.LETLX.DE vs. CSPX.LETLX.DE vs. UBUD.DEETLX.DE vs. RGLDETLX.DE vs. DFENETLX.DE vs. BNKE.LETLX.DE vs. DFEN.DE
Often compared with GDX:
GDX vs. GLDGDX vs. GDXJGDX vs. GOLDGDX vs. IAUGDX vs. GDXUGDX vs. RINGGDX vs. SLV

ETLX.DE vs. GDX - Expense Ratio Comparison

ETLX.DE has a 0.65% expense ratio, which is higher than GDX's 0.51% expense ratio.

ETLX.DE
L&G Gold Mining UCITS ETF
GDX
VanEck Gold Miners ETF

Return for Risk

ETLX.DE vs. GDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ETLX.DE
ETLX.DE Risk / Return Rank: 9090
Overall Rank
ETLX.DE Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
ETLX.DE Sortino Ratio Rank: 8989
Sortino Ratio Rank
ETLX.DE Omega Ratio Rank: 8484
Omega Ratio Rank
ETLX.DE Calmar Ratio Rank: 9393
Calmar Ratio Rank
ETLX.DE Martin Ratio Rank: 9090
Martin Ratio Rank
GDX
GDX Risk / Return Rank: 9292
Overall Rank
GDX Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
GDX Sortino Ratio Rank: 9090
Sortino Ratio Rank
GDX Omega Ratio Rank: 8989
Omega Ratio Rank
GDX Calmar Ratio Rank: 9393
Calmar Ratio Rank
GDX Martin Ratio Rank: 9191
Martin Ratio Rank
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.

ETLX.DE vs. GDX - Risk-Adjusted Trends Comparison

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

ETLX.DEGDXDifference

Sharpe ratio

Return per unit of total volatility

2.24

2.23

+0.01

Sortino ratio

Return per unit of downside risk

2.54

2.48

+0.06

Omega ratio

Gain probability vs. loss probability

1.35

1.36

-0.02

Calmar ratio

Return relative to maximum drawdown

3.66

3.24

+0.42

Martin ratio

Return relative to average drawdown

12.59

11.91

+0.68

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETLX.DE vs. GDX - Sharpe Ratio Comparison

The current ETLX.DE Sharpe Ratio is 2.24, which is comparable to the GDX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of ETLX.DE and GDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ETLX.DEGDXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.24

2.23

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.81

0.77

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.51

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.18

+0.08

Correlation

The correlation between ETLX.DE and GDX is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ETLX.DE vs. GDX - Dividend Comparison

ETLX.DE has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 0.66%.

TTM20252024202320222021202020192018201720162015
ETLX.DE
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%
GDX
VanEck Gold Miners ETF		0.66%0.74%1.19%1.61%1.66%1.67%0.53%0.67%0.50%0.76%0.26%0.85%

Drawdowns

ETLX.DE vs. GDX - Drawdown Comparison

The maximum ETLX.DE drawdown since its inception was -73.44%, roughly equal to the maximum GDX drawdown of -75.08%. Use the drawdown chart below to compare losses from any high point for ETLX.DE and GDX.

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Drawdown Indicators

ETLX.DEGDXDifference

Max Drawdown

Largest peak-to-trough decline

-73.44%

-80.34%

+6.90%

Max Drawdown (1Y)

Largest decline over 1 year

-28.89%

-30.84%

+1.95%

Max Drawdown (5Y)

Largest decline over 5 years

-42.03%

-46.51%

+4.48%

Max Drawdown (10Y)

Largest decline over 10 years

-47.05%

-49.79%

+2.74%

Current Drawdown

Current decline from peak

-14.50%

-17.12%

+2.62%

Average Drawdown

Average peak-to-trough decline

-34.84%

-40.60%

+5.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.41%

8.58%

-0.17%

Volatility

ETLX.DE vs. GDX - Volatility Comparison

L&G Gold Mining UCITS ETF (ETLX.DE) has a higher volatility of 18.11% compared to VanEck Gold Miners ETF (GDX) at 16.69%. This indicates that ETLX.DE's price experiences larger fluctuations and is considered to be riskier than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ETLX.DEGDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

18.11%

16.69%

+1.42%

Volatility (6M)

Calculated over the trailing 6-month period

38.49%

37.05%

+1.44%

Volatility (1Y)

Calculated over the trailing 1-year period

45.99%

43.67%

+2.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.47%

33.18%

+2.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.83%

35.47%

-1.64%