GDX.L vs. NUCG.L
GDX.L (VanEck Gold Miners UCITS ETF) and NUCG.L (VanEck Uranium and Nuclear Technologies UCITS ETF) are both exchange-traded funds - GDX.L is a Commodity Producers Equities fund tracking the VanEck Gold Miners UCITS ETF, while NUCG.L is a Uranium fund tracking the MarketVector Global Uranium and Nuclear Energy Infrastructure. Both are passively managed. Over the past 3 years, GDX.L returned 33.56%/yr vs 34.64%/yr for NUCG.L. At a 0.33 correlation, their price movements are largely independent. GDX.L charges 0.53%/yr vs 0.55%/yr for NUCG.L.
Performance
GDX.L vs. NUCG.L - Performance Comparison
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Returns By Period
In the year-to-date period, GDX.L achieves a -14.33% return, which is significantly lower than NUCG.L's -6.84% return.
GDX.L
- 1D
- 0.25%
- 1M
- -14.29%
- 6M
- -24.08%
- YTD
- -14.33%
- 1Y
- 45.65%
- 3Y*
- 33.56%
- 5Y*
- 18.04%
- 10Y*
- 10.47%
NUCG.L
- 1D
- -2.57%
- 1M
- -13.84%
- 6M
- -21.33%
- YTD
- -6.84%
- 1Y
- 8.49%
- 3Y*
- 34.64%
- 5Y*
- —
- 10Y*
- —
GDX.L vs. NUCG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GDX.L VanEck Gold Miners UCITS ETF | -14.33% | 156.68% | 9.22% | -0.09% |
NUCG.L VanEck Uranium and Nuclear Technologies UCITS ETF | -6.84% | 56.10% | 31.89% | 0.05% |
Correlation
The correlation between GDX.L and NUCG.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2023 | 0.33 |
The correlation between GDX.L and NUCG.L shifts across timeframes, from 0.33 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GDX.L vs. NUCG.L — Risk / Return Rank
GDX.L
NUCG.L
GDX.L vs. NUCG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners UCITS ETF (GDX.L) and VanEck Uranium and Nuclear Technologies UCITS ETF (NUCG.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 | NUCG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.07 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 0.30 | +0.84 |
| Martin ratioReturn relative to average drawdown | 2.64 | 0.62 | +2.03 |
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Drawdowns
GDX.L vs. NUCG.L - Drawdown Comparison
The maximum GDX.L drawdown since its inception was -50.37%, which is greater than NUCG.L's maximum drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for GDX.L and NUCG.L.
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Drawdown Indicators
| GDX.L | NUCG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.37% | -35.35% | -15.02% |
Max Drawdown (1Y)Largest decline over 1 year | -37.20% | -28.52% | -8.68% |
Max Drawdown (3Y)Largest decline over 3 years | -37.20% | -35.35% | -1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -45.52% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -50.37% | — | — |
Current DrawdownCurrent decline from peak | -35.87% | -28.52% | -7.35% |
Average DrawdownAverage peak-to-trough decline | -21.70% | -10.84% | -10.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.97% | 13.74% | +2.23% |
Volatility
GDX.L vs. NUCG.L - Volatility Comparison
VanEck Gold Miners UCITS ETF (GDX.L) has a higher volatility of 14.82% compared to VanEck Uranium and Nuclear Technologies UCITS ETF (NUCG.L) at 9.19%. This indicates that GDX.L's price experiences larger fluctuations and is considered to be riskier than NUCG.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 | NUCG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.82% | 9.19% | +5.63% |
Volatility (6M)Calculated over the trailing 6-month period | 38.73% | 28.21% | +10.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.46% | 40.44% | +7.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.88% | 34.42% | +2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.06% | 34.42% | +0.64% |
GDX.L vs. NUCG.L - Expense Ratio Comparison
GDX.L has a 0.53% expense ratio, which is lower than NUCG.L's 0.55% expense ratio.
Dividends
GDX.L vs. NUCG.L - Dividend Comparison
Neither GDX.L nor NUCG.L has paid dividends to shareholders.
Frequently Asked Questions
GDX.L and NUCG.L have a correlation of 0.52, 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 NUCG.L.
GDX.L is categorized as Commodity Producers Equities, while NUCG.L is Uranium. GDX.L tracks VanEck Gold Miners UCITS ETF, while NUCG.L tracks MarketVector Global Uranium and Nuclear Energy Infrastructure. Their fees differ too: 0.53% for GDX.L and 0.55% for NUCG.L.
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