GDIG.L vs. ERNX.DE
GDIG.L (VanEck S&P Global Mining UCITS ETF) and ERNX.DE (iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating) are both exchange-traded funds - GDIG.L is a Materials fund tracking the S&P Global Mining Reduced Coal Index, while ERNX.DE is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index. Both are passively managed. Over the past 3 years, GDIG.L returned 25.51%/yr vs 4.74%/yr for ERNX.DE. At a 0.37 correlation, their price movements are largely independent. GDIG.L charges 0.50%/yr vs 0.09%/yr for ERNX.DE.
Performance
GDIG.L vs. ERNX.DE - Performance Comparison
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Different Trading Currencies
GDIG.L is traded in USD, while ERNX.DE is traded in EUR. To make them comparable, the ERNX.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GDIG.L achieves a 3.53% return, which is significantly higher than ERNX.DE's -2.39% return.
GDIG.L
- 1D
- 0.93%
- 1M
- -11.17%
- YTD
- 3.53%
- 6M
- 0.82%
- 1Y
- 64.43%
- 3Y*
- 25.51%
- 5Y*
- 13.29%
- 10Y*
- —
ERNX.DE
- 1D
- 0.05%
- 1M
- -2.12%
- YTD
- -2.39%
- 6M
- -2.76%
- 1Y
- -0.38%
- 3Y*
- 4.74%
- 5Y*
- —
- 10Y*
- —
GDIG.L vs. ERNX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GDIG.L VanEck S&P Global Mining UCITS ETF | 3.53% | 90.59% | -8.69% | 4.58% | -6.00% |
ERNX.DE iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating | -2.39% | 16.04% | -1.89% | 6.45% | 1.70% |
Correlation
The correlation between GDIG.L and ERNX.DE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2022 | 0.37 |
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Return for Risk
GDIG.L vs. ERNX.DE — Risk / Return Rank
GDIG.L
ERNX.DE
GDIG.L vs. ERNX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck S&P Global Mining UCITS ETF (GDIG.L) and iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating (ERNX.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.
| GDIG.L | ERNX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.79 | ||
| Sortino ratioReturn per unit of downside risk | +2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.00 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | -0.07 | +2.74 |
| Martin ratioReturn relative to average drawdown | 7.50 | -0.17 | +7.67 |
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Drawdowns
GDIG.L vs. ERNX.DE - Drawdown Comparison
The maximum GDIG.L drawdown since its inception was -40.03%, which is greater than ERNX.DE's maximum drawdown of -11.36%. Use the drawdown chart below to compare losses from any high point for GDIG.L and ERNX.DE.
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Drawdown Indicators
| GDIG.L | ERNX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.03% | -11.36% | -28.67% |
Max Drawdown (1Y)Largest decline over 1 year | -24.08% | -5.02% | -19.06% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -7.52% | -16.56% |
Max Drawdown (5Y)Largest decline over 5 years | -40.03% | — | — |
Current DrawdownCurrent decline from peak | -21.83% | -4.93% | -16.90% |
Average DrawdownAverage peak-to-trough decline | -12.64% | -2.55% | -10.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.57% | 2.19% | +6.38% |
Volatility
GDIG.L vs. ERNX.DE - Volatility Comparison
VanEck S&P Global Mining UCITS ETF (GDIG.L) has a higher volatility of 14.46% compared to iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating (ERNX.DE) at 1.68%. This indicates that GDIG.L's price experiences larger fluctuations and is considered to be riskier than ERNX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDIG.L | ERNX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.46% | 1.68% | +12.78% |
Volatility (6M)Calculated over the trailing 6-month period | 31.48% | 4.57% | +26.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.10% | 6.40% | +30.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.73% | 7.92% | +23.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.42% | 7.92% | +22.50% |
GDIG.L vs. ERNX.DE - Expense Ratio Comparison
GDIG.L has a 0.50% expense ratio, which is higher than ERNX.DE's 0.09% expense ratio.
Dividends
GDIG.L vs. ERNX.DE - Dividend Comparison
Neither GDIG.L nor ERNX.DE has paid dividends to shareholders.
Frequently Asked Questions
GDIG.L and ERNX.DE have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNX.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNX.DE is cheaper with a 0.09% expense ratio, compared with 0.50% for GDIG.L.
GDIG.L is categorized as Materials, while ERNX.DE is Ultrashort Bond. GDIG.L tracks S&P Global Mining Reduced Coal Index, while ERNX.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.50% for GDIG.L and 0.09% for ERNX.DE.
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