VDIV.DE vs. G2X.DE

Last updated Jun 5, 2026

VDIV.DE (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) and G2X.DE (VanEck Gold Miners UCITS ETF) are both exchange-traded funds - VDIV.DE is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while G2X.DE is a Precious Metals fund tracking the NYSE Arca Gold Miners. Both are passively managed. Over the past 5 years, VDIV.DE returned 17.51%/yr vs 20.05%/yr for G2X.DE. At a 0.14 correlation, their price movements are largely independent. VDIV.DE charges 0.38%/yr vs 0.53%/yr for G2X.DE.

Performance

VDIV.DE vs. G2X.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (VDIV.DE) and VanEck Gold Miners UCITS ETF (G2X.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VDIV.DE achieves a 9.79% return, which is significantly higher than G2X.DE's -1.03% return.

VDIV.DE

• 1D: 0.23%
• 1M: 0.01%
• YTD: 9.79%
• 6M: 12.73%
• 1Y: 25.64%
• 3Y*: 19.95%
• 5Y*: 17.51%
• 10Y*: —

G2X.DE

• 1D: 1.09%
• 1M: 0.55%
• YTD: -1.03%
• 6M: 7.50%
• 1Y: 61.05%
• 3Y*: 37.60%
• 5Y*: 20.05%
• 10Y*: 13.83%

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

VDIV.DE vs. G2X.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VDIV.DE VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	9.79%	24.55%	15.67%	11.47%	15.47%	27.92%	-11.00%	23.04%	-3.07%
G2X.DE VanEck Gold Miners UCITS ETF	-1.03%	131.13%	17.55%	5.59%	-0.02%	-4.26%	13.26%	40.97%	4.57%

Correlation

The correlation between VDIV.DE and G2X.DE is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018	0.14

The correlation between VDIV.DE and G2X.DE shifts across timeframes, from 0.12 (1 year) to 0.24 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VDIV.DE vs. G2X.DE — Risk / Return Rank

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

VDIV.DE

VDIV.DE Risk / Return Rank: 88
VDIV.DE Sharpe Ratio Rank: 84
VDIV.DE Sortino Ratio Rank: 86
VDIV.DE Omega Ratio Rank: 85
VDIV.DE Calmar Ratio Rank: 94
VDIV.DE Martin Ratio Rank: 90

G2X.DE

G2X.DE Risk / Return Rank: 39
G2X.DE Sharpe Ratio Rank: 41
G2X.DE Sortino Ratio Rank: 37
G2X.DE Omega Ratio Rank: 38
G2X.DE Calmar Ratio Rank: 44
G2X.DE Martin Ratio Rank: 36

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.

VDIV.DE vs. G2X.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (VDIV.DE) and VanEck Gold Miners UCITS ETF (G2X.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.

	VDIV.DE	G2X.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.73	1.42	+1.30
Sortino ratio: Return per unit of downside risk	3.85	1.90	+1.95
Omega ratio: Gain probability vs. loss probability	1.51	1.25	+0.26
Calmar ratio: Return relative to maximum drawdown	6.94	2.18	+4.76
Martin ratio: Return relative to average drawdown	20.46	5.49	+14.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VDIV.DE vs. G2X.DE - Sharpe Ratio Comparison

The current VDIV.DE Sharpe Ratio is 2.73, which is higher than the G2X.DE Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of VDIV.DE and G2X.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.

Sharpe Ratios by Period

	VDIV.DE	G2X.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.73	1.42	+1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.45	0.60	+0.85
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.44	+0.50

Drawdowns

VDIV.DE vs. G2X.DE - Drawdown Comparison

The maximum VDIV.DE drawdown since its inception was -36.12%, smaller than the maximum G2X.DE drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for VDIV.DE and G2X.DE.

Drawdown Indicators

	VDIV.DE	G2X.DE	Difference
Max Drawdown Largest peak-to-trough decline	-36.12%	-46.04%	+9.92%
Max Drawdown (1Y) Largest decline over 1 year	-3.68%	-27.90%	+24.22%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-27.90%	+12.78%
Max Drawdown (5Y) Largest decline over 5 years	-15.12%	-38.55%	+23.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.04%	—
Current Drawdown Current decline from peak	-2.39%	-23.34%	+20.95%
Average Drawdown Average peak-to-trough decline	-4.22%	-19.92%	+15.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	11.09%	-9.84%

Volatility

VDIV.DE vs. G2X.DE - Volatility Comparison

The current volatility for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (VDIV.DE) is 2.82%, while VanEck Gold Miners UCITS ETF (G2X.DE) has a volatility of 13.57%. This indicates that VDIV.DE experiences smaller price fluctuations and is considered to be less risky than G2X.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VDIV.DE	G2X.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	13.57%	-10.75%
Volatility (6M) Calculated over the trailing 6-month period	6.79%	34.36%	-27.57%
Volatility (1Y) Calculated over the trailing 1-year period	9.36%	42.64%	-33.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.92%	33.16%	-21.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.36%	32.33%	-16.97%

VDIV.DE vs. G2X.DE - Expense Ratio Comparison

VDIV.DE has a 0.38% expense ratio, which is lower than G2X.DE's 0.53% expense ratio.

Dividends

VDIV.DE vs. G2X.DE - Dividend Comparison

VDIV.DE's dividend yield for the trailing twelve months is around 3.19%, while G2X.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
G2X.DE VanEck Gold Miners UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VDIV.DE VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.19%	3.58%	4.19%	4.97%	4.56%	3.97%	4.11%	4.35%	0.91%

Frequently Asked Questions

Can I hold both VDIV.DE and G2X.DE in my portfolio?

VDIV.DE and G2X.DE have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VDIV.DE or G2X.DE?

On fees, VDIV.DE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VDIV.DE or G2X.DE?

VDIV.DE is cheaper with a 0.38% expense ratio, compared with 0.53% for G2X.DE.

What is the main difference between VDIV.DE and G2X.DE?

VDIV.DE is categorized as Global Equities, while G2X.DE is Precious Metals. VDIV.DE tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while G2X.DE tracks NYSE Arca Gold Miners. Their fees differ too: 0.38% for VDIV.DE and 0.53% for G2X.DE.