GDGB.L vs. VCEB
GDGB.L (VanEck Gold Miners UCITS ETF) and VCEB (Vanguard ESG U.S. Corporate Bond ETF) are both exchange-traded funds - GDGB.L is a Gold fund tracking the MarketVector Global Gold Miners Index, while VCEB is a Corporate Bonds fund tracking the Bloomberg Barclays MSCI US Corp SRI Select Index. Both are passively managed. Over the past 5 years, GDGB.L returned 18.43%/yr vs 1.42%/yr for VCEB. At a correlation of -0.04, they often move in opposite directions. GDGB.L charges 0.53%/yr vs 0.12%/yr for VCEB.
Performance
GDGB.L vs. VCEB - Performance Comparison
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Different Trading Currencies
GDGB.L is traded in GBP, while VCEB is traded in USD. To make them comparable, the VCEB values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GDGB.L achieves a -6.93% return, which is significantly lower than VCEB's 1.07% return.
GDGB.L
- 1D
- 5.48%
- 1M
- -15.21%
- YTD
- -6.93%
- 6M
- -6.07%
- 1Y
- 49.43%
- 3Y*
- 35.53%
- 5Y*
- 18.43%
- 10Y*
- —
VCEB
- 1D
- 0.01%
- 1M
- 0.65%
- YTD
- 1.07%
- 6M
- 0.81%
- 1Y
- 6.44%
- 3Y*
- 3.21%
- 5Y*
- 1.42%
- 10Y*
- —
GDGB.L vs. VCEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GDGB.L VanEck Gold Miners UCITS ETF | -6.93% | 138.26% | 11.24% | 3.69% | 3.04% | -10.47% | -10.46% |
VCEB Vanguard ESG U.S. Corporate Bond ETF | 1.07% | -0.18% | 4.01% | 3.10% | -5.06% | -1.07% | -4.40% |
Correlation
The correlation between GDGB.L and VCEB is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | -0.04 |
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Return for Risk
GDGB.L vs. VCEB — Risk / Return Rank
GDGB.L
VCEB
GDGB.L vs. VCEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners UCITS ETF (GDGB.L) and Vanguard ESG U.S. Corporate Bond ETF (VCEB). 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.
| GDGB.L | VCEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 1.20 | +0.29 |
| Martin ratioReturn relative to average drawdown | 4.20 | 3.05 | +1.14 |
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Drawdowns
GDGB.L vs. VCEB - Drawdown Comparison
The maximum GDGB.L drawdown since its inception was -40.80%, which is greater than VCEB's maximum drawdown of -14.14%. Use the drawdown chart below to compare losses from any high point for GDGB.L and VCEB.
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Drawdown Indicators
| GDGB.L | VCEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.80% | -14.14% | -26.66% |
Max Drawdown (1Y)Largest decline over 1 year | -34.64% | -5.26% | -29.38% |
Max Drawdown (3Y)Largest decline over 3 years | -34.64% | -8.90% | -25.74% |
Max Drawdown (5Y)Largest decline over 5 years | -35.49% | -12.90% | -22.59% |
Current DrawdownCurrent decline from peak | -30.57% | -2.85% | -27.72% |
Average DrawdownAverage peak-to-trough decline | -17.54% | -6.95% | -10.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.38% | 2.07% | +10.31% |
Volatility
GDGB.L vs. VCEB - Volatility Comparison
VanEck Gold Miners UCITS ETF (GDGB.L) has a higher volatility of 14.08% compared to Vanguard ESG U.S. Corporate Bond ETF (VCEB) at 1.46%. This indicates that GDGB.L's price experiences larger fluctuations and is considered to be riskier than VCEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDGB.L | VCEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.08% | 1.46% | +12.62% |
Volatility (6M)Calculated over the trailing 6-month period | 34.68% | 4.82% | +29.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.88% | 6.23% | +36.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.90% | 8.79% | +24.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.21% | 8.83% | +23.38% |
GDGB.L vs. VCEB - Expense Ratio Comparison
GDGB.L has a 0.53% expense ratio, which is higher than VCEB's 0.12% expense ratio.
Dividends
GDGB.L vs. VCEB - Dividend Comparison
GDGB.L has not paid dividends to shareholders, while VCEB's dividend yield for the trailing twelve months is around 4.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GDGB.L VanEck Gold Miners UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCEB Vanguard ESG U.S. Corporate Bond ETF | 4.64% | 4.57% | 4.47% | 3.70% | 2.84% | 1.69% | 0.43% |
Frequently Asked Questions
GDGB.L and VCEB have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VCEB is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCEB is cheaper with a 0.12% expense ratio, compared with 0.53% for GDGB.L.
GDGB.L is categorized as Gold, while VCEB is Corporate Bonds. GDGB.L tracks MarketVector Global Gold Miners Index, while VCEB tracks Bloomberg Barclays MSCI US Corp SRI Select Index. They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.53% for GDGB.L and 0.12% for VCEB.
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