GOLB.L vs. GDGB.L
GOLB.L (Market Access NYSE Arca Gold Bugs UCITS ETF) and GDGB.L (VanEck Gold Miners UCITS ETF) are both Gold funds - GOLB.L tracks the EMIX Global Mining Global Gold TR USD while GDGB.L tracks the MarketVector Global Gold Miners Index. Both are passively managed. Over the past 5 years, GOLB.L returned 20.48%/yr vs 19.88%/yr for GDGB.L. Their correlation of 0.93 suggests significant overlap in exposure. GOLB.L charges 0.65%/yr vs 0.53%/yr for GDGB.L.
Performance
GOLB.L vs. GDGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, GOLB.L achieves a -6.12% return, which is significantly higher than GDGB.L's -9.63% return.
GOLB.L
- 1D
- 1.26%
- 1M
- -11.87%
- YTD
- -6.12%
- 6M
- -11.22%
- 1Y
- 59.74%
- 3Y*
- 38.72%
- 5Y*
- 20.48%
- 10Y*
- —
GDGB.L
- 1D
- 1.30%
- 1M
- -11.13%
- YTD
- -9.63%
- 6M
- -13.73%
- 1Y
- 52.81%
- 3Y*
- 36.08%
- 5Y*
- 19.88%
- 10Y*
- —
GOLB.L vs. GDGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOLB.L Market Access NYSE Arca Gold Bugs UCITS ETF | -6.12% | 138.44% | 14.06% | 0.34% | 1.34% | -14.65% | 84.95% |
GDGB.L VanEck Gold Miners UCITS ETF | -9.63% | 138.26% | 11.24% | 3.69% | 3.04% | -10.47% | 23.65% |
Correlation
The correlation between GOLB.L and GDGB.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2020 | 0.93 |
The correlation between GOLB.L and GDGB.L has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
GOLB.L vs. GDGB.L — Risk / Return Rank
GOLB.L
GDGB.L
GOLB.L vs. GDGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Market Access NYSE Arca Gold Bugs UCITS ETF (GOLB.L) and VanEck Gold Miners UCITS ETF (GDGB.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.
| GOLB.L | GDGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.21 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 1.52 | +0.23 |
| Martin ratioReturn relative to average drawdown | 4.54 | 3.92 | +0.63 |
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Drawdowns
GOLB.L vs. GDGB.L - Drawdown Comparison
The maximum GOLB.L drawdown since its inception was -44.07%, which is greater than GDGB.L's maximum drawdown of -40.80%. Use the drawdown chart below to compare losses from any high point for GOLB.L and GDGB.L.
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Drawdown Indicators
| GOLB.L | GDGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.07% | -40.80% | -3.27% |
Max Drawdown (1Y)Largest decline over 1 year | -33.95% | -34.64% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -33.95% | -34.64% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -37.60% | -35.49% | -2.11% |
Current DrawdownCurrent decline from peak | -32.23% | -32.59% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -21.25% | -17.58% | -3.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.10% | 13.44% | -0.34% |
Volatility
GOLB.L vs. GDGB.L - Volatility Comparison
Market Access NYSE Arca Gold Bugs UCITS ETF (GOLB.L) and VanEck Gold Miners UCITS ETF (GDGB.L) have volatilities of 16.93% and 16.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOLB.L | GDGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.93% | 16.75% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 36.28% | 36.16% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.56% | 44.22% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.48% | 33.25% | +1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.67% | 32.39% | +11.28% |
GOLB.L vs. GDGB.L - Expense Ratio Comparison
GOLB.L has a 0.65% expense ratio, which is higher than GDGB.L's 0.53% expense ratio.
Dividends
GOLB.L vs. GDGB.L - Dividend Comparison
Neither GOLB.L nor GDGB.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, GOLB.L and GDGB.L 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.
On fees, GDGB.L is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GDGB.L is cheaper with a 0.53% expense ratio, compared with 0.65% for GOLB.L.
GOLB.L tracks EMIX Global Mining Global Gold TR USD, while GDGB.L tracks MarketVector Global Gold Miners Index. They also come from different issuers: China Post Global and VanEck. Their fees differ too: 0.65% for GOLB.L and 0.53% for GDGB.L.
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