GDX.L vs. REGB.L
GDX.L (VanEck Gold Miners UCITS ETF) and REGB.L (VanEck Rare Earth and Strategic Metals UCITS ETF A) are both exchange-traded funds - GDX.L is a Commodity Producers Equities fund tracking the VanEck Gold Miners UCITS ETF, while REGB.L is a Rare Earth & Strategic Metals fund tracking the EMIX Global Mining Global Gold TR USD. Both are passively managed. Over the past 3 years, GDX.L returned 33.56%/yr vs -2.45%/yr for REGB.L. At a 0.44 correlation, their price movements are largely independent. GDX.L charges 0.53%/yr vs 0.59%/yr for REGB.L.
Performance
GDX.L vs. REGB.L - Performance Comparison
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Different Trading Currencies
GDX.L is traded in USD, while REGB.L is traded in GBP. To make them comparable, the REGB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GDX.L achieves a -14.33% return, which is significantly lower than REGB.L's 6.60% 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%
REGB.L
- 1D
- 0.00%
- 1M
- -19.13%
- 6M
- -13.13%
- YTD
- 6.60%
- 1Y
- 68.06%
- 3Y*
- -2.45%
- 5Y*
- —
- 10Y*
- —
GDX.L vs. REGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GDX.L VanEck Gold Miners UCITS ETF | -14.33% | 156.68% | 9.22% | 9.69% | -7.72% | 7.02% |
REGB.L VanEck Rare Earth and Strategic Metals UCITS ETF A | 6.60% | 88.93% | -35.64% | -18.71% | -31.13% | -21.10% |
Correlation
The correlation between GDX.L and REGB.L is 0.56, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.44 |
The correlation between GDX.L and REGB.L shifts across timeframes, from 0.44 (all time) to 0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GDX.L vs. REGB.L — Risk / Return Rank
GDX.L
REGB.L
GDX.L vs. REGB.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 Rare Earth and Strategic Metals UCITS ETF A (REGB.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 | REGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.24 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 2.30 | -1.17 |
| Martin ratioReturn relative to average drawdown | 2.64 | 6.36 | -3.72 |
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Drawdowns
GDX.L vs. REGB.L - Drawdown Comparison
The maximum GDX.L drawdown since its inception was -50.37%, smaller than the maximum REGB.L drawdown of -75.84%. Use the drawdown chart below to compare losses from any high point for GDX.L and REGB.L.
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Drawdown Indicators
| GDX.L | REGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.37% | -75.84% | +25.47% |
Max Drawdown (1Y)Largest decline over 1 year | -37.20% | -29.76% | -7.44% |
Max Drawdown (3Y)Largest decline over 3 years | -37.20% | -60.66% | +23.46% |
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% | -42.74% | +6.87% |
Average DrawdownAverage peak-to-trough decline | -21.70% | -48.30% | +26.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.97% | 10.73% | +5.24% |
Volatility
GDX.L vs. REGB.L - Volatility Comparison
VanEck Gold Miners UCITS ETF (GDX.L) has a higher volatility of 14.82% compared to VanEck Rare Earth and Strategic Metals UCITS ETF A (REGB.L) at 11.11%. This indicates that GDX.L's price experiences larger fluctuations and is considered to be riskier than REGB.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 | REGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.82% | 11.11% | +3.71% |
Volatility (6M)Calculated over the trailing 6-month period | 38.73% | 34.18% | +4.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.46% | 46.90% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.88% | 48.26% | -11.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.06% | 48.26% | -13.20% |
GDX.L vs. REGB.L - Expense Ratio Comparison
GDX.L has a 0.53% expense ratio, which is lower than REGB.L's 0.59% expense ratio.
Dividends
GDX.L vs. REGB.L - Dividend Comparison
Neither GDX.L nor REGB.L has paid dividends to shareholders.
Frequently Asked Questions
GDX.L and REGB.L have a correlation of 0.56, 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 0.59% for REGB.L.
GDX.L is categorized as Commodity Producers Equities, while REGB.L is Rare Earth & Strategic Metals. GDX.L tracks VanEck Gold Miners UCITS ETF, while REGB.L tracks EMIX Global Mining Global Gold TR USD. Their fees differ too: 0.53% for GDX.L and 0.59% for REGB.L.
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