G2XJ.DE vs. GLD

Last updated Jun 5, 2026

G2XJ.DE (VanEck Junior Gold Miners UCITS) and GLD (SPDR Gold Shares) are both exchange-traded funds - G2XJ.DE is a Precious Metals fund tracking the MVIS Global Junior Gold Miners, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, G2XJ.DE returned 12.60%/yr vs 12.97%/yr for GLD. A 0.55 correlation means they provide meaningful diversification when combined. G2XJ.DE charges 0.55%/yr vs 0.40%/yr for GLD.

Performance

G2XJ.DE vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Junior Gold Miners UCITS (G2XJ.DE) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

G2XJ.DE is traded in EUR, while GLD is traded in USD. To make them comparable, the GLD values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, G2XJ.DE achieves a -3.74% return, which is significantly lower than GLD's 4.96% return. Both investments have delivered pretty close results over the past 10 years, with G2XJ.DE having a 12.60% annualized return and GLD not far ahead at 12.97%.

G2XJ.DE

• 1D: 0.42%
• 1M: -7.94%
• YTD: -3.74%
• 6M: 7.08%
• 1Y: 60.21%
• 3Y*: 42.43%
• 5Y*: 18.76%
• 10Y*: 12.60%

GLD

• 1D: 0.00%
• 1M: -3.47%
• YTD: 4.96%
• 6M: 6.67%
• 1Y: 31.01%
• 3Y*: 27.58%
• 5Y*: 19.45%
• 10Y*: 12.97%

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

G2XJ.DE vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
G2XJ.DE VanEck Junior Gold Miners UCITS	-3.74%	149.58%	21.45%	3.64%	-6.09%	-15.55%	18.76%	43.18%	-8.98%	-10.97%
GLD SPDR Gold Shares	1.94%	44.25%	35.02%	9.31%	5.38%	3.02%	14.53%	20.52%	2.66%	-1.05%

Correlation

The correlation between G2XJ.DE and GLD is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since May 28, 2015	0.55

The correlation between G2XJ.DE and GLD shifts across timeframes, from 0.55 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

G2XJ.DE vs. GLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

G2XJ.DE

G2XJ.DE Risk / Return Rank: 37
G2XJ.DE Sharpe Ratio Rank: 38
G2XJ.DE Sortino Ratio Rank: 35
G2XJ.DE Omega Ratio Rank: 36
G2XJ.DE Calmar Ratio Rank: 43
G2XJ.DE Martin Ratio Rank: 34

GLD

GLD Risk / Return Rank: 29
GLD Sharpe Ratio Rank: 30
GLD Sortino Ratio Rank: 27
GLD Omega Ratio Rank: 33
GLD Calmar Ratio Rank: 29
GLD Martin Ratio Rank: 26

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.

G2XJ.DE vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners UCITS (G2XJ.DE) and SPDR Gold Shares (GLD). 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.

	G2XJ.DE	GLD	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.24	+0.09
Sortino ratio: Return per unit of downside risk	1.82	1.65	+0.17
Omega ratio: Gain probability vs. loss probability	1.23	1.25	-0.02
Calmar ratio: Return relative to maximum drawdown	2.11	1.82	+0.29
Martin ratio: Return relative to average drawdown	5.07	4.30	+0.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

G2XJ.DE vs. GLD - Sharpe Ratio Comparison

The current G2XJ.DE Sharpe Ratio is 1.33, which is comparable to the GLD Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of G2XJ.DE and GLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	G2XJ.DE	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	1.24	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	1.17	-0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.87	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.65	-0.27

Drawdowns

G2XJ.DE vs. GLD - Drawdown Comparison

The maximum G2XJ.DE drawdown since its inception was -49.96%, which is greater than GLD's maximum drawdown of -37.47%. Use the drawdown chart below to compare losses from any high point for G2XJ.DE and GLD.

Drawdown Indicators

	G2XJ.DE	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-49.96%	-37.47%	-12.49%
Max Drawdown (1Y) Largest decline over 1 year	-29.24%	-17.14%	-12.10%
Max Drawdown (3Y) Largest decline over 3 years	-29.24%	-17.14%	-12.10%
Max Drawdown (5Y) Largest decline over 5 years	-40.82%	-17.14%	-23.68%
Max Drawdown (10Y) Largest decline over 10 years	-49.96%	-18.63%	-31.33%
Current Drawdown Current decline from peak	-25.97%	-15.52%	-10.45%
Average Drawdown Average peak-to-trough decline	-25.26%	-12.17%	-13.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.16%	7.23%	+4.93%

Volatility

G2XJ.DE vs. GLD - Volatility Comparison

VanEck Junior Gold Miners UCITS (G2XJ.DE) has a higher volatility of 15.07% compared to SPDR Gold Shares (GLD) at 3.75%. This indicates that G2XJ.DE's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	G2XJ.DE	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.07%	3.75%	+11.32%
Volatility (6M) Calculated over the trailing 6-month period	38.04%	21.79%	+16.25%
Volatility (1Y) Calculated over the trailing 1-year period	46.48%	25.17%	+21.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.98%	16.69%	+20.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.69%	14.91%	+22.78%

G2XJ.DE vs. GLD - Expense Ratio Comparison

G2XJ.DE has a 0.55% expense ratio, which is higher than GLD's 0.40% expense ratio.

Dividends

G2XJ.DE vs. GLD - Dividend Comparison

Neither G2XJ.DE nor GLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both G2XJ.DE and GLD in my portfolio?

G2XJ.DE and GLD have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, G2XJ.DE or GLD?

On fees, GLD is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, G2XJ.DE or GLD?

GLD is cheaper with a 0.40% expense ratio, compared with 0.55% for G2XJ.DE.

What is the main difference between G2XJ.DE and GLD?

G2XJ.DE is categorized as Precious Metals, while GLD is Gold. G2XJ.DE tracks MVIS Global Junior Gold Miners, while GLD tracks LBMA Gold Price PM. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.55% for G2XJ.DE and 0.40% for GLD.