G2X.DE vs. ETLX.DE
G2X.DE (VanEck Gold Miners UCITS ETF) and ETLX.DE (L&G Gold Mining UCITS ETF) are both Precious Metals funds - G2X.DE tracks the NYSE Arca Gold Miners while ETLX.DE tracks the DAXglobal® Gold Miners. Both are passively managed. Over the past 10 years, G2X.DE returned 13.83%/yr vs 15.32%/yr for ETLX.DE. With a 0.96 correlation, they move nearly in lockstep. G2X.DE charges 0.53%/yr vs 0.65%/yr for ETLX.DE.
Performance
G2X.DE vs. ETLX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, G2X.DE achieves a -1.03% return, which is significantly higher than ETLX.DE's -2.30% return. Over the past 10 years, G2X.DE has underperformed ETLX.DE with an annualized return of 13.83%, while ETLX.DE has yielded a comparatively higher 15.32% annualized return.
G2X.DE
- 1D
- 1.09%
- 1M
- -5.12%
- YTD
- -1.03%
- 6M
- 7.25%
- 1Y
- 61.18%
- 3Y*
- 37.60%
- 5Y*
- 20.05%
- 10Y*
- 13.83%
ETLX.DE
- 1D
- 0.57%
- 1M
- -6.27%
- YTD
- -2.30%
- 6M
- 5.08%
- 1Y
- 60.19%
- 3Y*
- 46.63%
- 5Y*
- 23.41%
- 10Y*
- 15.32%
G2X.DE vs. ETLX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ETLX.DE L&G Gold Mining UCITS ETF | -2.30% | 152.55% | 27.41% | 11.05% | -7.10% | -3.32% | 12.25% | 42.55% | -5.79% | -3.18% |
Correlation
The correlation between G2X.DE and ETLX.DE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | 0.96 |
The correlation between G2X.DE and ETLX.DE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
G2X.DE vs. ETLX.DE — Risk / Return Rank
G2X.DE
ETLX.DE
G2X.DE vs. ETLX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners UCITS ETF (G2X.DE) and L&G Gold Mining UCITS ETF (ETLX.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.
| G2X.DE | ETLX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.11 | +0.07 |
| Martin ratioReturn relative to average drawdown | 5.49 | 5.29 | +0.19 |
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
| G2X.DE | ETLX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.42 | 1.33 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.64 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.45 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.23 | +0.21 |
Drawdowns
G2X.DE vs. ETLX.DE - Drawdown Comparison
The maximum G2X.DE drawdown since its inception was -46.04%, smaller than the maximum ETLX.DE drawdown of -73.44%. Use the drawdown chart below to compare losses from any high point for G2X.DE and ETLX.DE.
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Drawdown Indicators
| G2X.DE | ETLX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.04% | -73.44% | +27.40% |
Max Drawdown (1Y)Largest decline over 1 year | -27.90% | -28.89% | +0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -27.90% | -28.89% | +0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -38.55% | -42.03% | +3.48% |
Max Drawdown (10Y)Largest decline over 10 years | -46.04% | -47.05% | +1.01% |
Current DrawdownCurrent decline from peak | -23.34% | -24.71% | +1.37% |
Average DrawdownAverage peak-to-trough decline | -19.92% | -34.69% | +14.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.09% | 11.52% | -0.43% |
Volatility
G2X.DE vs. ETLX.DE - Volatility Comparison
VanEck Gold Miners UCITS ETF (G2X.DE) and L&G Gold Mining UCITS ETF (ETLX.DE) have volatilities of 13.57% and 14.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| G2X.DE | ETLX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.57% | 14.03% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 34.36% | 35.22% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.64% | 45.70% | -3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.16% | 36.04% | -2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.33% | 33.83% | -1.50% |
G2X.DE vs. ETLX.DE - Expense Ratio Comparison
G2X.DE has a 0.53% expense ratio, which is lower than ETLX.DE's 0.65% expense ratio.
Dividends
G2X.DE vs. ETLX.DE - Dividend Comparison
Neither G2X.DE nor ETLX.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, G2X.DE and ETLX.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.65% for ETLX.DE.
G2X.DE tracks NYSE Arca Gold Miners, while ETLX.DE tracks DAXglobal® Gold Miners. They also come from different issuers: VanEck and Legal & General. Their fees differ too: 0.53% for G2X.DE and 0.65% for ETLX.DE.
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