G2X.DE vs. HY3M.DE
G2X.DE (VanEck Gold Miners UCITS ETF) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both exchange-traded funds - G2X.DE is a Gold fund tracking the NYSE Arca Gold Miners, while HY3M.DE is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, G2X.DE returned 18.79%/yr vs 3.37%/yr for HY3M.DE. At a correlation of -0.10, they often move in opposite directions. G2X.DE charges 0.53%/yr vs 0.40%/yr for HY3M.DE.
Performance
G2X.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, G2X.DE achieves a -14.60% return, which is significantly lower than HY3M.DE's 6.33% return.
G2X.DE
- 1D
- -2.36%
- 1M
- -13.21%
- 6M
- -23.54%
- YTD
- -14.60%
- 1Y
- 47.98%
- 3Y*
- 32.20%
- 5Y*
- 18.79%
- 10Y*
- 10.00%
HY3M.DE
- 1D
- -0.75%
- 1M
- 0.99%
- 6M
- 4.72%
- YTD
- 6.33%
- 1Y
- 9.36%
- 3Y*
- 9.22%
- 5Y*
- 3.37%
- 10Y*
- —
G2X.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
G2X.DE VanEck Gold Miners UCITS ETF | -14.60% | 131.10% | 17.58% | 5.59% | -0.03% | -4.26% | 13.26% | 40.99% | 6.70% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 17.71% | -14.66% |
Correlation
The correlation between G2X.DE and HY3M.DE is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | -0.10 |
The correlation between G2X.DE and HY3M.DE shifts across timeframes, from -0.25 (1 year) to -0.08 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
G2X.DE vs. HY3M.DE — Risk / Return Rank
G2X.DE
HY3M.DE
G2X.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners UCITS ETF (G2X.DE) and VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.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.
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 | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.28 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 3.41 | -2.04 |
| Martin ratioReturn relative to average drawdown | 3.20 | 10.01 | -6.81 |
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Drawdowns
G2X.DE vs. HY3M.DE - Drawdown Comparison
The maximum G2X.DE drawdown since its inception was -46.04%, which is greater than HY3M.DE's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for G2X.DE and HY3M.DE.
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Drawdown Indicators
| G2X.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.04% | -21.08% | -24.96% |
Max Drawdown (1Y)Largest decline over 1 year | -34.86% | -3.08% | -31.78% |
Max Drawdown (3Y)Largest decline over 3 years | -34.86% | -12.09% | -22.77% |
Max Drawdown (5Y)Largest decline over 5 years | -38.53% | -13.58% | -24.95% |
Max Drawdown (10Y)Largest decline over 10 years | -46.04% | — | — |
Current DrawdownCurrent decline from peak | -33.85% | -1.17% | -32.68% |
Average DrawdownAverage peak-to-trough decline | -20.03% | -7.04% | -12.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.95% | 1.05% | +13.90% |
Volatility
G2X.DE vs. HY3M.DE - Volatility Comparison
VanEck Gold Miners UCITS ETF (G2X.DE) has a higher volatility of 14.21% compared to VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) at 1.97%. This indicates that G2X.DE's price experiences larger fluctuations and is considered to be riskier than HY3M.DE 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 | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.21% | 1.97% | +12.24% |
Volatility (6M)Calculated over the trailing 6-month period | 36.61% | 5.14% | +31.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.42% | 6.85% | +38.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.93% | 8.61% | +25.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.51% | 13.20% | +19.31% |
G2X.DE vs. HY3M.DE - Expense Ratio Comparison
G2X.DE has a 0.53% expense ratio, which is higher than HY3M.DE's 0.40% expense ratio.
Dividends
G2X.DE vs. HY3M.DE - Dividend Comparison
Neither G2X.DE nor HY3M.DE has paid dividends to shareholders.
Frequently Asked Questions
G2X.DE and HY3M.DE have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HY3M.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HY3M.DE is cheaper with a 0.40% expense ratio, compared with 0.53% for G2X.DE.
G2X.DE is categorized as Gold, while HY3M.DE is Emerging Markets Bonds. G2X.DE tracks NYSE Arca Gold Miners, while HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Their fees differ too: 0.53% for G2X.DE and 0.40% for HY3M.DE.
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