ETF sheet · Issuer-declared data

L&G Gold Mining UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00B3CNHG25Ticker: AUCOIssuer: LGIMClass: USD Acc.

Global Equity tracking the Global Gold Miners Index NTR, physical, full replication, accumulating. Share class in US dollars (USD).

0.55% + 0.04%

TER + KID transaction costs ✓ declared by the issuer

rows published by the issuer · holdings ↓ ✓ declared by the issuer

823 m €

fund assets ✓ declared by the issuer

−0.94 pt /year

average tracking difference 2023–2025 · year by year ↓ ≈ computed by Rebalix

Every figure carries its provenance: ✓ declared by the issuer in its documents · ≈ computed by Rebalix on the declared data.

Fund

Name

L&G Gold Mining UCITS ETF

Declared index

Global Gold Miners Index NTR

Management

Passive (index-tracking) (from the KID)

Replication

Physical (full replication)

Sector (from holdings)

Materials — 100% of the declared portfolio (1 October 2026)

Theme

Miners (gold, silver, copper) · Infrastructure & resources

Fund assets

823.2 mln EUR

Domicile

Ireland

Share class · this page

ISIN

IE00B3CNHG25 · USD Acc.

Ticker

AUCO

Share-class currency

US dollars (USD)

TER

0.55%

Transaction costs

0.04% (issuer estimate, from the KID)

Management fees and other administrative or operating costs — PRIIPs KID

0.60% (previous period or estimate; not the TER)

Income policy

Accumulating

Share-class launch

6 November 2008

Data as declared by LGIM in the issuer’s official files and endpoints · collected on 17 October 2026 (monthly refresh). Facts only, no recommendation.

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OverviewIn this sectionQuick reads Fund objective What changed over time

Quick reads

TER 0.55%above the median of equity ETFs we track (0.23%).≈ computed by Rebalix
Average tracking difference over the last 3 years-0.94% p.a., against a declared TER of 0.55%.≈ computed by Rebalix
Materiali di base 100%first sector from the declared portfolio✓ declared by the issuer
44 rowspublished by the issuer; completeness of the list not declared✓ declared by the issuer
Top 10 = 68%of the fund✓ declared by the issuer

✓ declared by the issuer · ≈ computed by Rebalix on the declared data in our census. They describe the past and are not indicative of future results.

Description and fund objective

L&G Gold Mining UCITS ETF tracks the issuer-declared index: Global Gold Miners Index NTR. The declared annual cost (TER) is 0.55%, plus 0.04% in transaction costs estimated by the issuer in the KID. Replication is full physical replication (the KID declares buying every index constituent); income is accumulated and reinvested in the fund. The fund has assets of about 823 million euro, was launched on 6 November 2008 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The investment objective of the Fund is to provide exposure to international gold mining companies that are actively engaged in the mining and production of gold ore. The Fund is passively managed and aims to track the performance of the Global Gold Miners Index (the “Index”), before the deduction of fees and expenses.
Keep reading the KID section ▾
The Index is designed to provide exposure to global companies that are actively engaged in gold mining and related activities, in accordance with its methodology.
The Fund seeks to achieve its investment objective by investing primarily in equity securities that, as far as possible and practicable, make up the Index in similar proportions to their weightings in the Index. Where it is not possible or practicable to invest directly in all of the constituents of the Index, the Fund may also invest in equity related securities and instruments that are not constituents of the Index but have similar risk and performance characteristics, and may use ﬁnancial derivative instruments for eﬃcient portfolio management or to assist in tracking the performance of the Index. This Share Class does not intend to pay dividends. Any income which may result from the Fund's investments will be re-invested into the Fund. Shares in this Share Class (the "Shares") are denominated in USD and can be bought and sold on stock exchanges by ordinary investors using an intermediary (e.g. a stockbroker). In normal circumstances, only Authorised Participants may buy and sell Shares directly with the Company. Authorised Participants may redeem their Shares on demand in accordance with the "Dealing Timetable" published on http://www.lgim.com.
The depositary of the Fund is the Bank of New York Mellon SA/NV, Dublin Branch. Further information about the Fund and the share class can be obtained from the Company's prospectus and the annual and semi-annual reports, which are available, in addition to the latest prices for the share class and details of any other share classes, free of charge at: www.lgim.com.
Intended Retail Investor:The Fund is designed for investors looking to grow their money in an investment which can form part of their existing savings portfolio. Although investors can take their money out at any time, the Fund may not be appropriate for those who plan to withdraw their money within ﬁve years. The Fund is not designed for investors who cannot aﬀord more than a minimal loss of their investment.

From the KID’s “Objectives” section · KID acquired on 2 October 2026 · original document ↓

Text generated from the data the issuer declares in official product lists. No recommendation.

What has changed in the fund over time

Every month we snapshot the register and the holdings and keep the picture. The history shows how the fund changes, not only what it is today.

Share-class launch
6 November 2008
declared by the issuer
Basket snapshots
3 monthly
since June 2026
Dated events
none so far
TER, index, name, tax: every change is an event

Open the history →

Italian taxation

Ordinary rate on income and gains: 26%
Share of tax-favoured government bonds: not available in the issuer sources consulted by Rebalix
Effective rate for this fund: cannot be determined by Rebalix with the available data

For individuals resident in Italy, outside business activity. Any tax-favoured component may reduce the effective levy. The intermediary may hold tax information not published on the issuer’s website; the absence of the figure on Rebalix does not imply a zero favoured share.

PerformanceIn this sectionChart Backtest Tracking difference

Fund performance

issuer-declared net asset value (NAV) · USD (loading exchange rates) · from Sept 2008 to Oct 2026

Adjusted for inflationCompare with the index

Compare with another ETF

Only funds we hold a history for. Three at a time, at most.

Return

+344.1%

Annualised

+8.6%

Volatility (ann.)

35.5%

Max drawdown

-77.72%

11 Sept 2008 → 15 Oct 202618 years and 1 month · +344.1%

Accumulating class: income is reinvested inside the fund and already reflected in the NAV; no distribution is left out of the chart.

Calculations on the NAV: total-return series currency not qualified.

Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.

Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.

Max drawdown

-77.72%

peak → trough

Trough

11 Sept 2015

from the 08 Sept 2011 peak

Recovery time

3,499 days

recovery only: trough to break-even · ≈ 9 years and 7 months

Underwater

4,963 days

decline + recovery: peak to break-even · ≈ 13 years and 7 months · → recovered on 10 Apr 2025

The five worst falls in the period

From the peak of	Trough	Depth	Back to break-even	Days underwater
08 Sept 2011	11 Sept 2015	-77.72%	10 Apr 2025	4,963
22 Sept 2008	23 Oct 2008	-52.32%	25 Mar 2009	184
27 Feb 2026	20 Jul 2026	-39.07%	ongoing	230
02 Dec 2009	04 Feb 2010	-25.64%	14 Sept 2010	286
16 Oct 2025	04 Nov 2025	-19.20%	11 Dec 2025	56

Calendar-year returns

2016

49.2%

2017

13.2%

2018

-11.3%

2019

42.6%

2020

23.2%

2021

-9.5%

2022

-15.3%

2023

16.3%

2024

18.3%

2025

180.9%

2026

1.7%

2008, partial: the available series starts on 11 September 2008; the return runs from that date to 31 December 2008 and is not comparable with a full year.

Month-by-month returns

2026Year 1.7%

Jan

12.1

Feb

19.1

Mar

-21.8

Apr

-1.9

May

0.3

Jun

-15.5

Jul

-2.1

Aug

36.6

Sept

-10.5

Oct

-2.0

Nov

Dec

2025Year 180.9%

Jan

20.7

Feb

-1.1

Mar

19.4

Apr

8.9

May

2.5

Jun

2.8

Jul

-1.1

Aug

22.8

Sept

22.2

Oct

-4.3

Nov

15.8

Dec

4.4

2024Year 18.3%

Jan

-9.7

Feb

-5.9

Mar

22.1

Apr

6.1

May

6.4

Jun

-2.5

Jul

12.0

Aug

4.0

Sept

2.2

Oct

2.1

Nov

-6.2

Dec

-9.0

2023Year 16.3%

Jan

12.0

Feb

-16.0

Mar

21.5

Apr

5.0

May

-8.9

Jun

-2.9

Jul

4.9

Aug

-7.7

Sept

-8.8

Oct

7.6

Nov

12.5

Dec

2.5

2022Year -15.3%

Jan

-7.3

Feb

13.0

Mar

11.0

Apr

-9.5

May

-10.9

Jun

-17.1

Jul

-4.4

Aug

-8.5

Sept

1.5

Oct

-0.7

Nov

20.2

Dec

2.8

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	Year
2026	12.1	19.1	-21.8	-1.9	0.3	-15.5	-2.1	36.6	-10.5	-2.0			1.7
2025	20.7	-1.1	19.4	8.9	2.5	2.8	-1.1	22.8	22.2	-4.3	15.8	4.4	180.9
2024	-9.7	-5.9	22.1	6.1	6.4	-2.5	12.0	4.0	2.2	2.1	-6.2	-9.0	18.3
2023	12.0	-16.0	21.5	5.0	-8.9	-2.9	4.9	-7.7	-8.8	7.6	12.5	2.5	16.3
2022	-7.3	13.0	11.0	-9.5	-10.9	-17.1	-4.4	-8.5	1.5	-0.7	20.2	2.8	-15.3
2021	-4.8	-8.1	4.4	4.3	15.7	-16.7	2.9	-7.2	-8.7	8.3	2.0	2.4	-9.5
2020	-0.7	-9.7	-11.9	40.6	2.7	7.0	18.4	-1.7	-7.2	-5.8	-6.2	5.8	23.2
2019	10.3	-3.1	1.0	-7.2	3.7	20.5	3.3	11.3	-9.2	4.8	-4.4	8.8	42.6
2018	2.3	-11.4	2.4	1.1	-0.8	-0.5	-4.6	-12.2	-0.7	3.9	2.0	8.6	-11.3
2017	12.6	-2.3	-0.5	-1.1	1.9	-3.7	3.1	7.2	-6.6	-1.5	-0.4	5.2	13.2
2016	6.2	34.0	3.8	24.2	-11.5	22.2	8.9	-16.8	3.8	-7.6	-15.6	2.6	49.2
2015	20.9	-3.3	-13.6	10.9	-2.5	-8.4	-19.7	1.3	-1.0	11.2	-8.7	1.9	-16.8
2014	14.1	11.2	-7.5	3.3	-6.0	16.0	-1.2	2.8	-19.0	-17.6	5.8	1.2	-4.1
2013	-5.1	-9.1	-1.7	-19.4	-2.9	-21.3	11.9	7.7	-8.3	-0.3	-13.1	-5.0	-52.4
2012	9.5	-1.1	-12.5	-6.7	-6.9	1.1	-2.4	7.8	14.4	-3.4	-8.1	-5.8	-16.3
2011	-10.7	7.4	0.6	4.5	-6.1	-4.6	4.7	7.8	-12.6	6.1	2.3	-15.0	-17.8
2010	-12.3	6.6	2.1	13.8	-2.6	4.7	-6.5	11.7	5.5	1.2	1.0	3.3	28.9
2009	0.1	-2.7	11.3	-10.4	30.9	-12.2	4.3	1.5	10.0	-3.6	17.3	-7.1	36.5
2008										-37.7	29.6	23.1	22.1(partial)

From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested: where declared). Deeper colour = larger move.

Method and sources

Source: LGIM. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available August 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 1 of the last 9 calendar years: a past observation, not an indication of future outperformance.

Average annual TD, 2023–2025

-0.94 pt /year

Declared TER

0.55%

Year	Fund	Index	Difference (pt)
2025	+180.86%	+182.44%	-1.57 pt
2024	+18.28%	+18.92%	-0.64 pt
2023	+16.28%	+16.90%	-0.62 pt
2022	-15.32%	-15.45%	+0.12 pt
2021	-9.50%	-9.17%	-0.33 pt
2020	+23.19%	+24.68%	-1.48 pt
2019	+42.58%	+44.30%	-1.72 pt
2018	-11.29%	-10.17%	-1.13 pt
2017	+13.22%	+14.59%	-1.38 pt

Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

RiskIn this sectionRisk

Risk indicators· EUR

Last year

Volatility (ann.)43.82%

Max drawdown-37.50%

Sharpe0.43

Sortino0.61

Last 3 years

Volatility (ann.)35.50%

Max drawdown-37.50%

Sharpe1.27

Sortino1.86

Last 5 years

Volatility (ann.)33.40%

Max drawdown-42.27%

Sharpe0.82

Sortino1.21

Last 10 years

Volatility (ann.)31.04%

Max drawdown-43.60%

Sharpe0.61

Sortino0.90

Full history

Volatility (ann.)34.10%

Max drawdown-72.85%

Sharpe0.41

Sortino0.61

	Last year	Last 3 years	Last 5 years	Last 10 years	Full history
Volatility (ann.)	43.82%	35.50%	33.40%	31.04%	34.10%
Max drawdown	-37.50%	-37.50%	-42.27%	-43.60%	-72.85%
Sharpe	0.43	1.27	0.82	0.61	0.41
Sortino	0.61	1.86	1.21	0.90	0.61

Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.25%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

PortfolioIn this sectionHoldings

Portfolio holdings

Rows in the published list

Top-10 weight

68.0%

Top 10 holdings

NEWMONT CORP USD 1.6

16.11%

AGNICO-EAGLE MINES LIMITED

11.31%

ANGLOGOLD ASHANTI PLC USD 1.0

9.52%

GOLD FIELDS LTD ZAR 0.5

6.39%

NORTHERN STAR RESOURCES LTD NPV

5.96%

KINROSS GOLD CORP CAD NPV

5.36%

HARMONY GOLD MINING CO LTD

4.78%

B2GOLD CORP NPV

3.48%

IAMGOLD CORP NPV

2.59%

EVOLUTION MINING LTD NPV

2.47%

Sectors· index breakdown declared by the issuer

Materiali di base

100.0%

Countries

up to 1%1–5%5–15%15–30%over 30%

Hover a country for its percentage.

Countries

Canada40.7%

South Africa22.7%

Australia18%

United States17.4%

United Kingdom1.1%

⬇ Download the published holdings — Excel, 44 rows

Holdings as published by LGIM, holdings as at 1 October 2026: 44 rows archived by Rebalix, summarised here. Rebalix has no statement from the issuer on the completeness of this list. Weights are reported without rescaling and may not sum to 100%. How Rebalix verifies portfolio holdings →

StructureIn this sectionIndex Exchanges

Index tracked

Global Gold Miners Index NTR

This fund belongs to the gold (ETCs and miners) family: compare all census ETFs in this family →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE00B3CNHG25

Directazero within the savings plan (buys)
Directazero on single buys from 2,000 €, agreement until 31 December 2026
Moneyfarmzero within the savings plan (buys), agreement until 29 June 2029
Moneyfarmzero on single buys from 1,000 €, agreement until 29 June 2029
XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans

Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 15 October 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

Exchanges with a ticker available· in alphabetical order

Exchange	Ticker	Exchange source	Registered since
Bolsa Mexicana de Valores	AUCONfrom the issuer	issuer’s product list (exchange outside the FIRDS perimeter)	—
Borsa Italiana (ETFplus)	AUCOfrom the issuer	ESMA register (FIRDS)	29 Jan 2009
Börse Düsseldorf	ETLXfrom mapping	ESMA register (FIRDS)	7 Sept 2017
Börse Frankfurt	ETLXfrom mapping	ESMA register (FIRDS)	20 Apr 2020
Börse Hamburg	ETLXfrom mapping	ESMA register (FIRDS)	13 Sept 2022
Börse Hannover	ETLXfrom mapping	ESMA register (FIRDS)	9 Dec 2024
Börse München / gettex	ETLXfrom mapping	ESMA register (FIRDS)	20 Apr 2020
Börse Stuttgart	ETLXfrom mapping	ESMA register (FIRDS)	20 Apr 2020
Euronext Amsterdam	AUCOfrom the issuer	ESMA register (FIRDS)	19 Sept 2008
London Stock Exchange	AUCOfrom the issuer	issuer’s product list (exchange outside the FIRDS perimeter)	—
SIX Swiss Exchange	AUCOfrom the issuer	issuer’s product list (exchange outside the FIRDS perimeter)	—
Tradegate Exchange	ETLXfrom mapping	ESMA register (FIRDS)	8 Apr 2020
Xetra (Deutsche Börse)	ETLXfrom the issuer	ESMA register (FIRDS)	20 Apr 2020

from the issuer — ticker declared by the issuer in its product list.

from mapping — ticker obtained by ISIN→exchange mapping under the open FIGI standard, not read from the exchange’s list.

Each row is one exchange: the operator with all its markets and segments (regulated market and Freiverkehr included). “Registered since”: admission date in the ESMA register (FIRDS), not necessarily the first trading day; a dash = date not recorded in the sources.

+ 6 other trading platforms (platforms for professional participants and segments without admission to listing, such as an exchange operator’s dark books or auctions): they are not exchanges and are not listed.

Exchanges are taken from the official ESMA register (FIRDS) and, where FIRDS does not cover the exchange (London, Zurich) or does not record the current listing, from the issuers’ product lists and documents: the “Exchange source” column says so row by row. Each exchange is a single row, with all its markets and segments. Tickers come from the issuers’ product lists and tax documents or, where indicated, from ISIN→exchange mapping under the open FIGI standard (OpenFIGI). Activity on a dark book, an auction or an ancillary platform does not prove a listing on the exchange that operates it. Rebalix mainly covers venues in the European Economic Area, Switzerland and the United Kingdom: when the issuer declares current listings in other jurisdictions too, they appear with their source, outside the ESMA register perimeter. Terminated or cancelled listings are not shown. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker.

DocumentsIn this sectionDocuments FAQ

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed version ProspectusPDF in English, from the issuer’s site — the fund’s full legal document FactsheetPDF in Italian, from the issuer’s site — the fund’s monthly snapshot

The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Frequently asked questions

Which index does L&G Gold Mining UCITS ETF track?

The issuer LGIM declares the benchmark: Global Gold Miners Index NTR.

How much does AUCO cost?

The issuer-declared TER is 0.55% per year; the transaction costs estimated in the KID are 0.04%.

What is the fund size of AUCO?

The fund size declared by LGIM is about 823 million euro.

When was AUCO launched?

The fund was launched on 6 November 2008: it has 17 years of history.

How does AUCO replicate its index?

It is a passively managed ETF: it follows the declared index. Physical (full replication) (issuer wording: “Fisica - replica completa (dal KID)”).

Does AUCO pay dividends?

No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).

Where does AUCO trade?

Per the official ESMA register (FIRDS) and the issuer’s documents it is listed on 13 exchanges with a ticker available, including Bolsa Mexicana de Valores (AUCON), Borsa Italiana (ETFplus) (AUCO), Börse Düsseldorf (ETLX), Börse Frankfurt (ETLX), Börse Hamburg (ETLX), Börse Hannover (ETLX).

What was AUCO's worst fall?

Over the available history (since 2008), the maximum drawdown was -77.72%, reached in September 2015. Past performance is not indicative of future results.

What is AUCO's tracking difference?

Over the three most recent complete calendar years (2023–2025) the fund returned on average -0.94 percentage points per year versus its index: the annual mean of the differences, from issuer-declared series.

How many positions does AUCO publish?

The list published by the issuer and archived by Rebalix has 44 rows; the top 10 weigh 68%. The issuer does not declare the list as complete: rows are reported as published, weights included, even where a position has zero weight.

Transparency note

The data in this sheet is declared by LGIM in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.

Do you represent the issuer? Report a correction or an update