HOC.L vs. AUCP.L

Last updated Jun 5, 2026

HOC.L (Hochschild Mining plc) is a stock, while AUCP.L (L&G Gold Mining UCITS ETF) is Precious Metals fund tracking the STOXX Global Gold Miners. Over the past 10 years, HOC.L returned 17.08%/yr vs 16.41%/yr for AUCP.L. At a 0.50 correlation, their price movements are largely independent.

Performance

HOC.L vs. AUCP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Hochschild Mining plc (HOC.L) and L&G Gold Mining UCITS ETF (AUCP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOC.L achieves a 13.22% return, which is significantly higher than AUCP.L's -0.57% return. Both investments have delivered pretty close results over the past 10 years, with HOC.L having a 17.08% annualized return and AUCP.L not far behind at 16.41%.

HOC.L

• 1D: 0.09%
• 1M: -8.45%
• YTD: 13.22%
• 6M: 38.16%
• 1Y: 87.00%
• 3Y*: 93.00%
• 5Y*: 27.99%
• 10Y*: 17.08%

AUCP.L

• 1D: 0.71%
• 1M: -6.20%
• YTD: -0.57%
• 6M: 4.32%
• 1Y: 64.93%
• 3Y*: 46.06%
• 5Y*: 23.58%
• 10Y*: 16.41%

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

HOC.L vs. AUCP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOC.L Hochschild Mining plc	13.22%	141.69%	99.81%	52.46%	-43.65%	-29.18%	17.23%	19.41%	-39.88%	25.89%
AUCP.L L&G Gold Mining UCITS ETF	-0.57%	161.99%	20.20%	8.69%	-4.04%	-8.91%	17.60%	39.53%	-5.63%	0.57%

Correlation

The correlation between HOC.L and AUCP.L is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Dec 15, 2008	0.50

Over the past year, HOC.L and AUCP.L have become more correlated (0.77) than their long-term average of 0.50, meaning their price movements have been converging.

Return for Risk

HOC.L vs. AUCP.L — Risk / Return Rank

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

HOC.L

HOC.L Risk / Return Rank: 81
HOC.L Sharpe Ratio Rank: 84
HOC.L Sortino Ratio Rank: 77
HOC.L Omega Ratio Rank: 78
HOC.L Calmar Ratio Rank: 84
HOC.L Martin Ratio Rank: 81

AUCP.L

AUCP.L Risk / Return Rank: 41
AUCP.L Sharpe Ratio Rank: 43
AUCP.L Sortino Ratio Rank: 39
AUCP.L Omega Ratio Rank: 39
AUCP.L Calmar Ratio Rank: 46
AUCP.L Martin Ratio Rank: 37

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.

HOC.L vs. AUCP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hochschild Mining plc (HOC.L) and L&G Gold Mining UCITS ETF (AUCP.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.

	HOC.L	AUCP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.49	+0.18
Sortino ratio: Return per unit of downside risk	2.12	1.97	+0.16
Omega ratio: Gain probability vs. loss probability	1.29	1.25	+0.04
Calmar ratio: Return relative to maximum drawdown	3.16	2.21	+0.94
Martin ratio: Return relative to average drawdown	6.81	5.70	+1.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HOC.L vs. AUCP.L - Sharpe Ratio Comparison

The current HOC.L Sharpe Ratio is 1.67, which is comparable to the AUCP.L Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of HOC.L and AUCP.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HOC.L	AUCP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	1.49	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.65	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.47	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.26	-0.18

Drawdowns

HOC.L vs. AUCP.L - Drawdown Comparison

The maximum HOC.L drawdown since its inception was -93.27%, which is greater than AUCP.L's maximum drawdown of -77.57%. Use the drawdown chart below to compare losses from any high point for HOC.L and AUCP.L.

Drawdown Indicators

	HOC.L	AUCP.L	Difference
Max Drawdown Largest peak-to-trough decline	-93.27%	-77.57%	-15.70%
Max Drawdown (1Y) Largest decline over 1 year	-32.71%	-29.56%	-3.15%
Max Drawdown (3Y) Largest decline over 3 years	-32.71%	-29.56%	-3.15%
Max Drawdown (5Y) Largest decline over 5 years	-68.40%	-39.38%	-29.02%
Max Drawdown (10Y) Largest decline over 10 years	-80.57%	-45.72%	-34.85%
Current Drawdown Current decline from peak	-28.09%	-25.67%	-2.42%
Average Drawdown Average peak-to-trough decline	-54.74%	-35.74%	-19.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.81%	11.51%	+3.30%

Volatility

HOC.L vs. AUCP.L - Volatility Comparison

Hochschild Mining plc (HOC.L) has a higher volatility of 17.02% compared to L&G Gold Mining UCITS ETF (AUCP.L) at 13.97%. This indicates that HOC.L's price experiences larger fluctuations and is considered to be riskier than AUCP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOC.L	AUCP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.02%	13.97%	+3.05%
Volatility (6M) Calculated over the trailing 6-month period	42.41%	34.06%	+8.35%
Volatility (1Y) Calculated over the trailing 1-year period	61.79%	43.95%	+17.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.35%	35.99%	+19.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.15%	34.66%	+20.49%

Dividends

HOC.L vs. AUCP.L - Dividend Comparison

HOC.L's dividend yield for the trailing twelve months is around 0.77%, while AUCP.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AUCP.L L&G Gold Mining UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HOC.L Hochschild Mining plc	0.77%	0.43%	0.00%	0.00%	5.05%	2.38%	2.84%	1.92%	2.11%	0.90%	0.55%

Frequently Asked Questions

Can I hold both HOC.L and AUCP.L in my portfolio?

HOC.L and AUCP.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.