MKA.L vs. GDX
MKA.L (Mkango Resources Ltd) is a stock, while GDX (VanEck Gold Miners ETF) is Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Over the past 5 years, MKA.L returned 6.89%/yr vs 18.73%/yr for GDX. At a 0.04 correlation, their price movements are largely independent.
Performance
MKA.L vs. GDX - Performance Comparison
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Different Trading Currencies
MKA.L is traded in GBp, while GDX is traded in USD. To make them comparable, the GDX values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, MKA.L achieves a -7.74% return, which is significantly lower than GDX's -6.22% return.
MKA.L
- 1D
- 2.14%
- 1M
- -4.67%
- YTD
- -7.74%
- 6M
- -17.50%
- 1Y
- 160.00%
- 3Y*
- 57.41%
- 5Y*
- 6.89%
- 10Y*
- —
GDX
- 1D
- 3.06%
- 1M
- -16.10%
- YTD
- -6.22%
- 6M
- -6.13%
- 1Y
- 52.98%
- 3Y*
- 36.16%
- 5Y*
- 18.73%
- 10Y*
- 13.87%
MKA.L vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MKA.L Mkango Resources Ltd | -7.74% | 484.91% | -30.87% | -6.12% | -60.48% | 77.14% | 103.49% | -0.00% | 18.62% | 123.08% |
GDX VanEck Gold Miners ETF | -6.22% | 136.62% | 12.57% | 4.48% | 1.81% | -8.67% | 20.03% | 34.52% | -3.36% | 2.30% |
Correlation
The correlation between MKA.L and GDX is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2016 | 0.04 |
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Return for Risk
MKA.L vs. GDX — Risk / Return Rank
MKA.L
GDX
MKA.L vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mkango Resources Ltd (MKA.L) and VanEck Gold Miners ETF (GDX). 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.
| MKA.L | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.22 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 1.48 | +1.61 |
| Martin ratioReturn relative to average drawdown | 6.25 | 4.16 | +2.09 |
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Drawdowns
MKA.L vs. GDX - Drawdown Comparison
The maximum MKA.L drawdown since its inception was -88.80%, which is greater than GDX's maximum drawdown of -79.06%. Use the drawdown chart below to compare losses from any high point for MKA.L and GDX.
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Drawdown Indicators
| MKA.L | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.80% | -79.06% | -9.74% |
Max Drawdown (1Y)Largest decline over 1 year | -51.45% | -35.86% | -15.59% |
Max Drawdown (3Y)Largest decline over 3 years | -67.06% | -35.86% | -31.20% |
Max Drawdown (5Y)Largest decline over 5 years | -88.80% | -36.38% | -52.42% |
Max Drawdown (10Y)Largest decline over 10 years | -88.80% | -43.27% | -45.53% |
Current DrawdownCurrent decline from peak | -37.83% | -30.61% | -7.22% |
Average DrawdownAverage peak-to-trough decline | -43.09% | -35.40% | -7.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.50% | 12.77% | +12.73% |
Volatility
MKA.L vs. GDX - Volatility Comparison
Mkango Resources Ltd (MKA.L) has a higher volatility of 22.52% compared to VanEck Gold Miners ETF (GDX) at 16.24%. This indicates that MKA.L's price experiences larger fluctuations and is considered to be riskier than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MKA.L | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.52% | 16.24% | +6.28% |
Volatility (6M)Calculated over the trailing 6-month period | 48.28% | 37.09% | +11.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.98% | 44.95% | +50.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.51% | 33.74% | +43.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.26% | 35.67% | +60.59% |
Dividends
MKA.L vs. GDX - Dividend Comparison
MKA.L has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 0.79%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDX VanEck Gold Miners ETF | 0.79% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
MKA.L Mkango Resources Ltd | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MKA.L and GDX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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