PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
G2X.DE vs. ^GSPC
Performance
Return for Risk
Drawdowns
Volatility

G2X.DE vs. ^GSPC

Last updated Jun 5, 2026

G2X.DE (VanEck Gold Miners UCITS ETF) is Precious Metals fund tracking the NYSE Arca Gold Miners, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, G2X.DE returned 13.83%/yr vs 13.40%/yr for ^GSPC. At a 0.01 correlation, their price movements are largely independent.

Performance

G2X.DE vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Gold Miners UCITS ETF (G2X.DE) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

G2X.DE is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, G2X.DE achieves a -1.03% return, which is significantly lower than ^GSPC's 12.06% return. Both investments have delivered pretty close results over the past 10 years, with G2X.DE having a 13.83% annualized return and ^GSPC not far behind at 13.40%.

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%

^GSPC

1D
0.27%
1M
5.17%
YTD
12.06%
6M
10.90%
1Y
24.89%
3Y*
17.85%
5Y*
13.43%
10Y*
13.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

G2X.DE vs. ^GSPC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
^GSPC
S&P 500 Index		12.06%2.58%31.45%20.51%-14.45%36.38%6.68%31.79%-1.84%4.74%

Correlation

The correlation between G2X.DE and ^GSPC is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.13

Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.04

Correlation (10Y)
Calculated over the trailing 10-year period

0.01

Correlation (All Time)
Calculated using the full available price history since May 28, 2015

0.01

The correlation between G2X.DE and ^GSPC shifts across timeframes, from 0.01 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

VanEck Gold Miners UCITS ETF

S&P 500 Index

Often compared with G2X.DE:
G2X.DE vs. GDXG2X.DE vs. IS0E.DEG2X.DE vs. G2XJ.DEG2X.DE vs. PPFB.DEG2X.DE vs. SLVPG2X.DE vs. QDVH.DEG2X.DE vs. SPGP.L
Often compared with ^GSPC:
^GSPC vs. ^IBEX^GSPC vs. AVGO^GSPC vs. SCHD^GSPC vs. GC=F^GSPC vs. TSMU^GSPC vs. QQQ^GSPC vs. ACWI

Return for Risk

G2X.DE vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
G2X.DE
G2X.DE Risk / Return Rank: 3939
Overall Rank
G2X.DE Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
G2X.DE Sortino Ratio Rank: 3737
Sortino Ratio Rank
G2X.DE Omega Ratio Rank: 3838
Omega Ratio Rank
G2X.DE Calmar Ratio Rank: 4444
Calmar Ratio Rank
G2X.DE Martin Ratio Rank: 3636
Martin Ratio Rank
^GSPC
^GSPC Risk / Return Rank: 8080
Overall Rank
^GSPC Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
^GSPC Sortino Ratio Rank: 7979
Sortino Ratio Rank
^GSPC Omega Ratio Rank: 7979
Omega Ratio Rank
^GSPC Calmar Ratio Rank: 7676
Calmar Ratio Rank
^GSPC Martin Ratio Rank: 8686
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.

G2X.DE vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners UCITS ETF (G2X.DE) and S&P 500 Index (^GSPC). 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.

G2X.DE^GSPCDifference
Sharpe ratioReturn per unit of total volatility
1.42
2.04

-0.61

Sortino ratioReturn per unit of downside risk
1.90
2.65

-0.75

Omega ratioGain probability vs. loss probability

1.25

1.37

-0.13

Calmar ratioReturn relative to maximum drawdown

2.18

3.30

-1.13

Martin ratioReturn relative to average drawdown

5.49

12.34

-6.85

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

G2X.DE vs. ^GSPC - Sharpe Ratio Comparison

The current G2X.DE Sharpe Ratio is 1.42, which is lower than the ^GSPC Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of G2X.DE and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

G2X.DE^GSPCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.42

2.04

-0.61

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

0.80

-0.21

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.43

0.72

-0.30

Sharpe Ratio (All Time)

Calculated using the full available price history

0.44

0.51

-0.07

Drawdowns

G2X.DE vs. ^GSPC - Drawdown Comparison

The maximum G2X.DE drawdown since its inception was -46.04%, smaller than the maximum ^GSPC drawdown of -51.62%. Use the drawdown chart below to compare losses from any high point for G2X.DE and ^GSPC.

Loading charts...

Drawdown Indicators

G2X.DE^GSPCDifference

Max Drawdown

Largest peak-to-trough decline

-46.04%

-51.62%

+5.58%

Max Drawdown (1Y)

Largest decline over 1 year

-27.90%

-7.57%

-20.33%

Max Drawdown (3Y)

Largest decline over 3 years

-27.90%

-23.99%

-3.91%

Max Drawdown (5Y)

Largest decline over 5 years

-38.55%

-23.99%

-14.56%

Max Drawdown (10Y)

Largest decline over 10 years

-46.04%

-33.42%

-12.62%

Current Drawdown

Current decline from peak

-23.34%

-0.20%

-23.14%

Average Drawdown

Average peak-to-trough decline

-19.92%

-9.08%

-10.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.09%

2.02%

+9.07%

Volatility

G2X.DE vs. ^GSPC - Volatility Comparison

VanEck Gold Miners UCITS ETF (G2X.DE) has a higher volatility of 13.57% compared to S&P 500 Index (^GSPC) at 2.24%. This indicates that G2X.DE's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

G2X.DE^GSPCDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.57%

2.24%

+11.33%

Volatility (6M)

Calculated over the trailing 6-month period

34.36%

8.62%

+25.74%

Volatility (1Y)

Calculated over the trailing 1-year period

42.64%

12.29%

+30.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

33.16%

16.79%

+16.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.33%

18.59%

+13.74%

Frequently Asked Questions

G2X.DE and ^GSPC have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Portfolio Optimizer

Find the right allocation for G2X.DE and ^GSPC

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer