IMSU.L vs. GDIG.L

Last updated Jul 18, 2026

IMSU.L (iShares S&P 500 Materials Sector UCITS ETF USD (Acc)) and GDIG.L (VanEck S&P Global Mining UCITS ETF) are both Materials funds - IMSU.L tracks the MSCI World/Materials NR USD while GDIG.L tracks the S&P Global Mining Reduced Coal Index. Both are passively managed. Over the past 5 years, IMSU.L returned 6.56%/yr vs 12.79%/yr for GDIG.L. A 0.51 correlation means they provide meaningful diversification when combined. IMSU.L charges 0.15%/yr vs 0.50%/yr for GDIG.L.

Performance

IMSU.L vs. GDIG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares S&P 500 Materials Sector UCITS ETF USD (Acc) (IMSU.L) and VanEck S&P Global Mining UCITS ETF (GDIG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IMSU.L is traded in GBp, while GDIG.L is traded in USD. To make them comparable, the GDIG.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IMSU.L achieves a 10.77% return, which is significantly higher than GDIG.L's -2.44% return.

IMSU.L

• 1D: 0.24%
• 1M: -4.73%
• 6M: 3.70%
• YTD: 10.77%
• 1Y: 14.35%
• 3Y*: 6.84%
• 5Y*: 6.56%
• 10Y*: —

GDIG.L

• 1D: -1.84%
• 1M: -18.88%
• 6M: -13.79%
• YTD: -2.44%
• 1Y: 48.21%
• 3Y*: 18.91%
• 5Y*: 12.79%
• 10Y*: —

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

IMSU.L vs. GDIG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IMSU.L iShares S&P 500 Materials Sector UCITS ETF USD (Acc)	10.77%	3.37%	0.69%	6.26%	-1.35%	28.63%	16.34%	19.09%	-0.80%
GDIG.L VanEck S&P Global Mining UCITS ETF	-2.44%	77.01%	-7.09%	-0.64%	15.96%	8.15%	27.51%	20.58%	-5.15%

Correlation

The correlation between IMSU.L and GDIG.L is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Apr 18, 2018	0.51

The correlation between IMSU.L and GDIG.L shifts across timeframes, from 0.50 (3 years) to 0.61 (1 year), reflecting how their relationship changes across market environments.

IMSU.L vs. GDIG.L - Sectors Allocation Comparison

Sectors	IMSU.L	GDIG.L
Basic Materials	90.4%	94.5%
Consumer Cyclical	9.6%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	3.7%
Financial Services	-	0.0%
Healthcare	-	-
Industrials	-	1.2%
Real Estate	-	-
Technology	-	0.6%
Utilities	-	-

Return for Risk

IMSU.L vs. GDIG.L — Risk / Return Rank

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

IMSU.L

IMSU.L Risk / Return Rank: 32
IMSU.L Sharpe Ratio Rank: 32
IMSU.L Sortino Ratio Rank: 31
IMSU.L Omega Ratio Rank: 29
IMSU.L Calmar Ratio Rank: 33
IMSU.L Martin Ratio Rank: 35

GDIG.L

GDIG.L Risk / Return Rank: 43
GDIG.L Sharpe Ratio Rank: 46
GDIG.L Sortino Ratio Rank: 43
GDIG.L Omega Ratio Rank: 42
GDIG.L Calmar Ratio Rank: 44
GDIG.L Martin Ratio Rank: 38

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.

IMSU.L vs. GDIG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Materials Sector UCITS ETF USD (Acc) (IMSU.L) and VanEck S&P Global Mining UCITS ETF (GDIG.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.

	IMSU.L	GDIG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.32	-0.39
Sortino ratio: Return per unit of downside risk	1.35	1.81	-0.46
Omega ratio: Gain probability vs. loss probability	1.16	1.23	-0.07
Calmar ratio: Return relative to maximum drawdown	1.33	1.79	-0.46
Martin ratio: Return relative to average drawdown	4.15	4.87	-0.72

IMSU.L vs. GDIG.L - Sharpe Ratio Comparison

The current IMSU.L Sharpe Ratio is 0.92, which is comparable to the GDIG.L Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of IMSU.L and GDIG.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.

Drawdowns

IMSU.L vs. GDIG.L - Drawdown Comparison

The maximum IMSU.L drawdown since its inception was -33.22%, roughly equal to the maximum GDIG.L drawdown of -33.58%. Use the drawdown chart below to compare losses from any high point for IMSU.L and GDIG.L.

Drawdown Indicators

	IMSU.L	GDIG.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.22%	-33.58%	+0.36%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-26.79%	+16.03%
Max Drawdown (3Y) Largest decline over 3 years	-25.16%	-26.79%	+1.63%
Max Drawdown (5Y) Largest decline over 5 years	-25.16%	-30.31%	+5.15%
Current Drawdown Current decline from peak	-4.97%	-26.28%	+21.31%
Average Drawdown Average peak-to-trough decline	-11.10%	-10.46%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	9.87%	-6.42%

Volatility

IMSU.L vs. GDIG.L - Volatility Comparison

The current volatility for iShares S&P 500 Materials Sector UCITS ETF USD (Acc) (IMSU.L) is 5.32%, while VanEck S&P Global Mining UCITS ETF (GDIG.L) has a volatility of 10.83%. This indicates that IMSU.L experiences smaller price fluctuations and is considered to be less risky than GDIG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMSU.L	GDIG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	10.83%	-5.51%
Volatility (6M) Calculated over the trailing 6-month period	12.58%	30.63%	-18.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.50%	36.43%	-20.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.58%	29.19%	-7.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.92%	28.37%	-3.45%

IMSU.L vs. GDIG.L - Expense Ratio Comparison

IMSU.L has a 0.15% expense ratio, which is lower than GDIG.L's 0.50% expense ratio.

Dividends

IMSU.L vs. GDIG.L - Dividend Comparison

Neither IMSU.L nor GDIG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IMSU.L and GDIG.L in my portfolio?

IMSU.L and GDIG.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IMSU.L or GDIG.L?

On fees, IMSU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMSU.L or GDIG.L?

IMSU.L is cheaper with a 0.15% expense ratio, compared with 0.50% for GDIG.L.

What is the main difference between IMSU.L and GDIG.L?

IMSU.L tracks MSCI World/Materials NR USD, while GDIG.L tracks S&P Global Mining Reduced Coal Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.15% for IMSU.L and 0.50% for GDIG.L.