G2X.DE vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Gold Miners UCITS ETF (G2X.DE) and S&P 500 Index (^GSPC).

G2X.DE is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Gold Miners. It was launched on Mar 25, 2015.

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.

G2X.DE vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
G2X.DE VanEck Gold Miners UCITS ETF	11.28%	131.13%	17.55%	5.59%	-0.02%	-4.26%	13.26%	40.97%	-4.37%	-5.31%
^GSPC S&P 500 Index	-2.47%	2.58%	31.45%	20.51%	-14.45%	36.38%	6.68%	31.79%	-1.84%	4.74%

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 11.28% return, which is significantly higher than ^GSPC's -2.47% return. Over the past 10 years, G2X.DE has outperformed ^GSPC with an annualized return of 18.18%, while ^GSPC has yielded a comparatively lower 12.07% annualized return.

G2X.DE

• 1D: 7.35%
• 1M: -13.52%
• YTD: 11.28%
• 6M: 28.05%
• 1Y: 97.42%
• 3Y*: 42.31%
• 5Y*: 25.90%
• 10Y*: 18.18%

^GSPC

• 1D: 0.61%
• 1M: -3.45%
• YTD: -2.47%
• 6M: -0.63%
• 1Y: 8.91%
• 3Y*: 14.47%
• 5Y*: 10.74%
• 10Y*: 12.07%

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

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: 90
G2X.DE Sharpe Ratio Rank: 93
G2X.DE Sortino Ratio Rank: 89
G2X.DE Omega Ratio Rank: 86
G2X.DE Calmar Ratio Rank: 93
G2X.DE Martin Ratio Rank: 90

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	2.28	0.43	+1.85
Sortino ratio Return per unit of downside risk	2.60	0.73	+1.87
Omega ratio Gain probability vs. loss probability	1.36	1.12	+0.24
Calmar ratio Return relative to maximum drawdown	3.59	0.66	+2.93
Martin ratio Return relative to average drawdown	12.57	2.77	+9.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

G2X.DE vs. ^GSPC - Sharpe Ratio Comparison

The current G2X.DE Sharpe Ratio is 2.28, which is higher than the ^GSPC Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of G2X.DE and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	G2X.DE	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	0.43	+1.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.64	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.65	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.45	+0.03

Correlation

The correlation between G2X.DE and ^GSPC is 0.01, 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.

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 -53.11%. Use the drawdown chart below to compare losses from any high point for G2X.DE and ^GSPC.

Drawdown Indicators

	G2X.DE	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-46.04%	-56.78%	+10.74%
Max Drawdown (1Y) Largest decline over 1 year	-27.90%	-12.14%	-15.76%
Max Drawdown (5Y) Largest decline over 5 years	-38.55%	-25.43%	-13.12%
Max Drawdown (10Y) Largest decline over 10 years	-46.04%	-33.92%	-12.12%
Current Drawdown Current decline from peak	-13.80%	-5.78%	-8.02%
Average Drawdown Average peak-to-trough decline	-19.93%	-10.75%	-9.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.96%	2.60%	+5.36%

Volatility

G2X.DE vs. ^GSPC - Volatility Comparison

VanEck Gold Miners UCITS ETF (G2X.DE) has a higher volatility of 17.77% compared to S&P 500 Index (^GSPC) at 4.42%. 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.

Volatility by Period

	G2X.DE	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.77%	4.42%	+13.35%
Volatility (6M) Calculated over the trailing 6-month period	35.95%	9.93%	+26.02%
Volatility (1Y) Calculated over the trailing 1-year period	42.45%	20.69%	+21.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.57%	16.81%	+15.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.41%	18.63%	+13.78%