G2X.DE vs. M9SD.DE
G2X.DE (VanEck Gold Miners UCITS ETF) and M9SD.DE (Market Access NYSE Arca Gold Bugs UCITS ETF) are both Precious Metals funds - G2X.DE tracks the NYSE Arca Gold Miners while M9SD.DE tracks the NYSE Arca Gold BUGS. Both are passively managed. Over the past 10 years, G2X.DE returned 13.83%/yr vs 12.24%/yr for M9SD.DE. With a 0.96 correlation, they move nearly in lockstep. G2X.DE charges 0.53%/yr vs 0.65%/yr for M9SD.DE.
Performance
G2X.DE vs. M9SD.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 lower than M9SD.DE's 3.74% return. Over the past 10 years, G2X.DE has outperformed M9SD.DE with an annualized return of 13.83%, while M9SD.DE has yielded a comparatively lower 12.24% annualized return.
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%
M9SD.DE
- 1D
- 1.07%
- 1M
- 1.31%
- YTD
- 3.74%
- 6M
- 11.49%
- 1Y
- 70.45%
- 3Y*
- 40.66%
- 5Y*
- 20.23%
- 10Y*
- 12.24%
G2X.DE vs. M9SD.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% |
M9SD.DE Market Access NYSE Arca Gold Bugs UCITS ETF | 3.74% | 130.74% | 20.64% | 2.95% | -2.13% | -8.52% | 14.07% | 50.51% | -13.27% | -11.82% |
Correlation
The correlation between G2X.DE and M9SD.DE is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 28, 2015 | 0.96 |
The correlation between G2X.DE and M9SD.DE has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
G2X.DE vs. M9SD.DE — Risk / Return Rank
G2X.DE
M9SD.DE
G2X.DE vs. M9SD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners UCITS ETF (G2X.DE) and Market Access NYSE Arca Gold Bugs UCITS ETF (M9SD.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 | M9SD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.27 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.56 | -0.39 |
| Martin ratioReturn relative to average drawdown | 5.49 | 6.47 | -0.99 |
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 | M9SD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.42 | 1.65 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.58 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.35 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.12 | +0.31 |
Drawdowns
G2X.DE vs. M9SD.DE - Drawdown Comparison
The maximum G2X.DE drawdown since its inception was -46.04%, smaller than the maximum M9SD.DE drawdown of -80.12%. Use the drawdown chart below to compare losses from any high point for G2X.DE and M9SD.DE.
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Drawdown Indicators
| G2X.DE | M9SD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.04% | -80.12% | +34.08% |
Max Drawdown (1Y)Largest decline over 1 year | -27.90% | -27.35% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -27.90% | -27.35% | -0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -38.55% | -39.62% | +1.07% |
Max Drawdown (10Y)Largest decline over 10 years | -46.04% | -55.80% | +9.76% |
Current DrawdownCurrent decline from peak | -23.34% | -22.37% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -19.92% | -42.59% | +22.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.09% | 10.84% | +0.25% |
Volatility
G2X.DE vs. M9SD.DE - Volatility Comparison
VanEck Gold Miners UCITS ETF (G2X.DE) and Market Access NYSE Arca Gold Bugs UCITS ETF (M9SD.DE) have volatilities of 13.57% and 13.40%, 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 | M9SD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.57% | 13.40% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 34.36% | 33.87% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.64% | 42.57% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.16% | 34.36% | -1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.33% | 34.73% | -2.40% |
G2X.DE vs. M9SD.DE - Expense Ratio Comparison
G2X.DE has a 0.53% expense ratio, which is lower than M9SD.DE's 0.65% expense ratio.
Dividends
G2X.DE vs. M9SD.DE - Dividend Comparison
Neither G2X.DE nor M9SD.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, G2X.DE and M9SD.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 M9SD.DE.
G2X.DE tracks NYSE Arca Gold Miners, while M9SD.DE tracks NYSE Arca Gold BUGS. They also come from different issuers: VanEck and China Post Global. Their fees differ too: 0.53% for G2X.DE and 0.65% for M9SD.DE.
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