G2X.DE vs. EXCS.L
G2X.DE (VanEck Gold Miners UCITS ETF) and EXCS.L (iShares MSCI EM ex-China UCITS ETF USD (Acc)) are both exchange-traded funds - G2X.DE is a Gold fund tracking the NYSE Arca Gold Miners, while EXCS.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 3 years, G2X.DE returned 35.39%/yr vs 23.81%/yr for EXCS.L. At a 0.29 correlation, their price movements are largely independent. G2X.DE charges 0.53%/yr vs 0.18%/yr for EXCS.L.
Performance
G2X.DE vs. EXCS.L - Performance Comparison
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Different Trading Currencies
G2X.DE is traded in EUR, while EXCS.L is traded in GBP. To make them comparable, the EXCS.L 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 -8.45% return, which is significantly lower than EXCS.L's 38.76% return.
G2X.DE
- 1D
- 5.67%
- 1M
- -14.87%
- YTD
- -8.45%
- 6M
- -4.07%
- 1Y
- 47.29%
- 3Y*
- 35.39%
- 5Y*
- 18.31%
- 10Y*
- 12.83%
EXCS.L
- 1D
- 3.28%
- 1M
- 4.22%
- YTD
- 38.76%
- 6M
- 43.53%
- 1Y
- 66.03%
- 3Y*
- 23.81%
- 5Y*
- —
- 10Y*
- —
G2X.DE vs. EXCS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
G2X.DE VanEck Gold Miners UCITS ETF | -8.45% | 131.10% | 17.58% | 5.59% | -0.03% | -7.31% |
EXCS.L iShares MSCI EM ex-China UCITS ETF USD (Acc) | 38.76% | 19.64% | 10.51% | 13.39% | -13.13% | -25.45% |
Correlation
The correlation between G2X.DE and EXCS.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2021 | 0.29 |
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Return for Risk
G2X.DE vs. EXCS.L — Risk / Return Rank
G2X.DE
EXCS.L
G2X.DE vs. EXCS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners UCITS ETF (G2X.DE) and iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| G2X.DE | EXCS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.56 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 5.30 | -3.78 |
| Martin ratioReturn relative to average drawdown | 4.22 | 19.36 | -15.15 |
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Drawdowns
G2X.DE vs. EXCS.L - Drawdown Comparison
The maximum G2X.DE drawdown since its inception was -46.04%, which is greater than EXCS.L's maximum drawdown of -36.91%. Use the drawdown chart below to compare losses from any high point for G2X.DE and EXCS.L.
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Drawdown Indicators
| G2X.DE | EXCS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.04% | -36.91% | -9.13% |
Max Drawdown (1Y)Largest decline over 1 year | -33.45% | -12.08% | -21.37% |
Max Drawdown (3Y)Largest decline over 3 years | -33.45% | -19.99% | -13.46% |
Max Drawdown (5Y)Largest decline over 5 years | -38.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.04% | — | — |
Current DrawdownCurrent decline from peak | -29.09% | -3.41% | -25.68% |
Average DrawdownAverage peak-to-trough decline | -19.95% | -22.29% | +2.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.02% | 3.31% | +8.71% |
Volatility
G2X.DE vs. EXCS.L - Volatility Comparison
VanEck Gold Miners UCITS ETF (G2X.DE) has a higher volatility of 14.79% compared to iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L) at 9.03%. This indicates that G2X.DE's price experiences larger fluctuations and is considered to be riskier than EXCS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| G2X.DE | EXCS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.79% | 9.03% | +5.76% |
Volatility (6M)Calculated over the trailing 6-month period | 35.01% | 17.89% | +17.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.27% | 20.57% | +22.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.32% | 24.57% | +8.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.37% | 24.57% | +7.80% |
G2X.DE vs. EXCS.L - Expense Ratio Comparison
G2X.DE has a 0.53% expense ratio, which is higher than EXCS.L's 0.18% expense ratio.
Dividends
G2X.DE vs. EXCS.L - Dividend Comparison
Neither G2X.DE nor EXCS.L has paid dividends to shareholders.
Frequently Asked Questions
G2X.DE and EXCS.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXCS.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXCS.L is cheaper with a 0.18% expense ratio, compared with 0.53% for G2X.DE.
G2X.DE is categorized as Gold, while EXCS.L is Emerging Markets Equities. G2X.DE tracks NYSE Arca Gold Miners, while EXCS.L tracks MSCI EM NR USD. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.53% for G2X.DE and 0.18% for EXCS.L.
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