GJGB.L vs. UBUD.DE

Last updated Jun 26, 2026

GJGB.L (VanEck Junior Gold Miners UCITS ETF) and UBUD.DE (UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist) are both Gold funds - GJGB.L tracks the MVIS Global Junior Gold Miners Index while UBUD.DE tracks the Solactive Global Pure Gold Miners. Both are passively managed. Over the past 5 years, GJGB.L returned 18.62%/yr vs 24.30%/yr for UBUD.DE. Their correlation of 0.88 suggests significant overlap in exposure. GJGB.L charges 0.55%/yr vs 0.43%/yr for UBUD.DE.

Performance

GJGB.L vs. UBUD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Junior Gold Miners UCITS ETF (GJGB.L) and UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GJGB.L is traded in GBP, while UBUD.DE is traded in EUR. To make them comparable, the UBUD.DE values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, GJGB.L achieves a -11.71% return, which is significantly higher than UBUD.DE's -15.93% return.

GJGB.L

• 1D: 1.18%
• 1M: -12.68%
• YTD: -11.71%
• 6M: -15.81%
• 1Y: 56.64%
• 3Y*: 41.42%
• 5Y*: 18.62%
• 10Y*: —

UBUD.DE

• 1D: 0.56%
• 1M: -12.64%
• YTD: -15.93%
• 6M: -17.84%
• 1Y: 47.70%
• 3Y*: 42.55%
• 5Y*: 24.30%
• 10Y*: 12.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GJGB.L vs. UBUD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GJGB.L VanEck Junior Gold Miners UCITS ETF	-11.71%	156.47%	14.85%	1.67%	-2.76%	-22.00%	25.74%	39.66%	-7.88%	-5.56%
UBUD.DE UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist	-15.93%	157.52%	28.84%	3.62%	5.70%	-14.71%	22.34%	33.19%	-4.46%	0.13%

Correlation

The correlation between GJGB.L and UBUD.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017	0.88

The correlation between GJGB.L and UBUD.DE has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

Return for Risk

GJGB.L vs. UBUD.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GJGB.L

GJGB.L Risk / Return Rank: 33
GJGB.L Sharpe Ratio Rank: 35
GJGB.L Sortino Ratio Rank: 34
GJGB.L Omega Ratio Rank: 34
GJGB.L Calmar Ratio Rank: 33
GJGB.L Martin Ratio Rank: 30

UBUD.DE

UBUD.DE Risk / Return Rank: 28
UBUD.DE Sharpe Ratio Rank: 29
UBUD.DE Sortino Ratio Rank: 29
UBUD.DE Omega Ratio Rank: 29
UBUD.DE Calmar Ratio Rank: 28
UBUD.DE Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GJGB.L vs. UBUD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners UCITS ETF (GJGB.L) and UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.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.

	GJGB.L	UBUD.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.00	+0.15
Sortino ratio: Return per unit of downside risk	1.67	1.50	+0.17
Omega ratio: Gain probability vs. loss probability	1.21	1.19	+0.02
Calmar ratio: Return relative to maximum drawdown	1.51	1.26	+0.25
Martin ratio: Return relative to average drawdown	3.91	3.38	+0.53

GJGB.L vs. UBUD.DE - Sharpe Ratio Comparison

The current GJGB.L Sharpe Ratio is 1.16, which is comparable to the UBUD.DE Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of GJGB.L and UBUD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GJGB.L vs. UBUD.DE - Drawdown Comparison

The maximum GJGB.L drawdown since its inception was -49.12%, smaller than the maximum UBUD.DE drawdown of -74.77%. Use the drawdown chart below to compare losses from any high point for GJGB.L and UBUD.DE.

Drawdown Indicators

	GJGB.L	UBUD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-49.12%	-74.77%	+25.65%
Max Drawdown (1Y) Largest decline over 1 year	-37.25%	-37.54%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-37.25%	-37.54%	+0.29%
Max Drawdown (5Y) Largest decline over 5 years	-37.25%	-37.54%	+0.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-48.52%	—
Current Drawdown Current decline from peak	-34.71%	-34.93%	+0.22%
Average Drawdown Average peak-to-trough decline	-22.41%	-37.09%	+14.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.43%	14.06%	+0.37%

Volatility

GJGB.L vs. UBUD.DE - Volatility Comparison

VanEck Junior Gold Miners UCITS ETF (GJGB.L) has a higher volatility of 19.03% compared to UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) at 17.68%. This indicates that GJGB.L's price experiences larger fluctuations and is considered to be riskier than UBUD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GJGB.L	UBUD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.03%	17.68%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	40.06%	38.11%	+1.95%
Volatility (1Y) Calculated over the trailing 1-year period	48.61%	47.27%	+1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.69%	35.83%	+1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.14%	37.29%	-0.15%

GJGB.L vs. UBUD.DE - Expense Ratio Comparison

GJGB.L has a 0.55% expense ratio, which is higher than UBUD.DE's 0.43% expense ratio.

Dividends

GJGB.L vs. UBUD.DE - Dividend Comparison

GJGB.L has not paid dividends to shareholders, while UBUD.DE's dividend yield for the trailing twelve months is around 0.76%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GJGB.L VanEck Junior Gold Miners UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UBUD.DE UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist	0.76%	0.44%	0.61%	1.13%	1.20%	1.38%	0.50%	0.47%	0.56%	0.54%	0.47%	1.53%

Frequently Asked Questions

Can I hold both GJGB.L and UBUD.DE in my portfolio?

With a correlation of 0.94, GJGB.L and UBUD.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GJGB.L or UBUD.DE?

On fees, UBUD.DE is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GJGB.L or UBUD.DE?

UBUD.DE is cheaper with a 0.43% expense ratio, compared with 0.55% for GJGB.L.

What is the main difference between GJGB.L and UBUD.DE?

GJGB.L tracks MVIS Global Junior Gold Miners Index, while UBUD.DE tracks Solactive Global Pure Gold Miners. They also come from different issuers: VanEck and UBS. Their fees differ too: 0.55% for GJGB.L and 0.43% for UBUD.DE.