GDX.L vs. ISAG.L
GDX.L (VanEck Gold Miners UCITS ETF USD (Acc)) and ISAG.L (iShares Agribusiness UCITS ETF USD (Acc)) are both exchange-traded funds - GDX.L is a Precious Metals Equities fund tracking the MarketVector Global Gold Miners Index, while ISAG.L is a Commodity Producers Equities fund tracking the S&P Commodity Producers Agribusiness Index NTR. Both are passively managed. Over the past 10 years, GDX.L returned 10.09%/yr vs 7.36%/yr for ISAG.L. At a 0.23 correlation, their price movements are largely independent. GDX.L charges 0.53%/yr vs 0.55%/yr for ISAG.L.
Performance
GDX.L vs. ISAG.L - Performance Comparison
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Returns By Period
In the year-to-date period, GDX.L achieves a -17.08% return, which is significantly lower than ISAG.L's 12.83% return. Over the past 10 years, GDX.L has outperformed ISAG.L with an annualized return of 10.09%, while ISAG.L has yielded a comparatively lower 7.36% annualized return.
GDX.L
- 1D
- -1.02%
- 1M
- -20.18%
- 6M
- -26.20%
- YTD
- -17.08%
- 1Y
- 41.29%
- 3Y*
- 30.94%
- 5Y*
- 17.28%
- 10Y*
- 10.09%
ISAG.L
- 1D
- 0.55%
- 1M
- 2.83%
- 6M
- 6.21%
- YTD
- 12.83%
- 1Y
- 16.69%
- 3Y*
- 5.11%
- 5Y*
- 4.76%
- 10Y*
- 7.36%
GDX.L vs. ISAG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDX.L VanEck Gold Miners UCITS ETF USD (Acc) | -17.08% | 156.68% | 9.22% | 9.69% | -7.72% | -11.80% | 23.54% | 43.20% | -10.18% | 7.61% |
ISAG.L iShares Agribusiness UCITS ETF USD (Acc) | 12.83% | 16.78% | -5.66% | -8.90% | 2.73% | 23.33% | 10.28% | 17.65% | -12.99% | 19.93% |
Correlation
The correlation between GDX.L and ISAG.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2015 | 0.24 |
The correlation between GDX.L and ISAG.L shifts across timeframes, from 0.23 (all time) to 0.34 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GDX.L vs. ISAG.L — Risk / Return Rank
GDX.L
ISAG.L
GDX.L vs. ISAG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners UCITS ETF USD (Acc) (GDX.L) and iShares Agribusiness UCITS ETF USD (Acc) (ISAG.L). 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.
| GDX.L | ISAG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.22 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.63 | -0.55 |
| Martin ratioReturn relative to average drawdown | 2.55 | 4.59 | -2.04 |
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Drawdowns
GDX.L vs. ISAG.L - Drawdown Comparison
The maximum GDX.L drawdown since its inception was -50.37%, which is greater than ISAG.L's maximum drawdown of -37.16%. Use the drawdown chart below to compare losses from any high point for GDX.L and ISAG.L.
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Drawdown Indicators
| GDX.L | ISAG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.37% | -37.16% | -13.21% |
Max Drawdown (1Y)Largest decline over 1 year | -37.93% | -10.17% | -27.76% |
Max Drawdown (3Y)Largest decline over 3 years | -37.93% | -19.13% | -18.80% |
Max Drawdown (5Y)Largest decline over 5 years | -45.52% | -33.22% | -12.30% |
Max Drawdown (10Y)Largest decline over 10 years | -50.37% | -37.16% | -13.21% |
Current DrawdownCurrent decline from peak | -37.93% | -6.32% | -31.61% |
Average DrawdownAverage peak-to-trough decline | -21.71% | -10.38% | -11.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.16% | 3.63% | +12.53% |
Volatility
GDX.L vs. ISAG.L - Volatility Comparison
VanEck Gold Miners UCITS ETF USD (Acc) (GDX.L) has a higher volatility of 13.30% compared to iShares Agribusiness UCITS ETF USD (Acc) (ISAG.L) at 2.41%. This indicates that GDX.L's price experiences larger fluctuations and is considered to be riskier than ISAG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDX.L | ISAG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.30% | 2.41% | +10.89% |
Volatility (6M)Calculated over the trailing 6-month period | 38.78% | 10.29% | +28.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.47% | 13.49% | +33.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.88% | 17.62% | +19.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.06% | 17.84% | +17.22% |
GDX.L vs. ISAG.L - Expense Ratio Comparison
GDX.L has a 0.53% expense ratio, which is lower than ISAG.L's 0.55% expense ratio.
Dividends
GDX.L vs. ISAG.L - Dividend Comparison
Neither GDX.L nor ISAG.L has paid dividends to shareholders.
Frequently Asked Questions
GDX.L and ISAG.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GDX.L is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GDX.L is cheaper with a 0.53% expense ratio, compared with 0.55% for ISAG.L.
GDX.L is categorized as Precious Metals Equities, while ISAG.L is Commodity Producers Equities. GDX.L tracks MarketVector Global Gold Miners Index, while ISAG.L tracks S&P Commodity Producers Agribusiness Index NTR. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.53% for GDX.L and 0.55% for ISAG.L.
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