AVDV vs. CGL-C.TO
AVDV (Avantis International Small Cap Value ETF) and CGL-C.TO (iShares Gold Bullion ETF) are both exchange-traded funds - AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis, while CGL-C.TO is a Gold fund tracking the LBMA Gold Price (CAD). AVDV is actively managed, while CGL-C.TO is passively managed. Over the past 5 years, AVDV returned 13.63%/yr vs 16.71%/yr for CGL-C.TO. At a 0.10 correlation, their price movements are largely independent. AVDV charges 0.36%/yr vs 0.55%/yr for CGL-C.TO.
Performance
AVDV vs. CGL-C.TO - Performance Comparison
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Different Trading Currencies
AVDV is traded in USD, while CGL-C.TO is traded in CAD. To make them comparable, the CGL-C.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AVDV achieves a 14.99% return, which is significantly higher than CGL-C.TO's -2.68% return.
AVDV
- 1D
- 0.89%
- 1M
- -1.99%
- YTD
- 14.99%
- 6M
- 17.18%
- 1Y
- 41.91%
- 3Y*
- 26.72%
- 5Y*
- 13.63%
- 10Y*
- —
CGL-C.TO
- 1D
- -0.00%
- 1M
- -10.30%
- YTD
- -2.68%
- 6M
- -2.36%
- 1Y
- 23.97%
- 3Y*
- 28.82%
- 5Y*
- 16.71%
- 10Y*
- 11.89%
AVDV vs. CGL-C.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AVDV Avantis International Small Cap Value ETF | 14.99% | 49.37% | 8.67% | 16.85% | -11.47% | 15.80% | 5.01% | 11.78% |
CGL-C.TO iShares Gold Bullion ETF | -2.58% | 62.99% | 26.68% | 12.82% | -0.22% | -4.80% | 24.71% | 0.03% |
Correlation
The correlation between AVDV and CGL-C.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.10 |
Over the past year, AVDV and CGL-C.TO have become more correlated (0.42) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
AVDV vs. CGL-C.TO — Risk / Return Rank
AVDV
CGL-C.TO
AVDV vs. CGL-C.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis International Small Cap Value ETF (AVDV) and iShares Gold Bullion ETF (CGL-C.TO). 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.
| AVDV | CGL-C.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.63 | ||
| Sortino ratioReturn per unit of downside risk | +2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.19 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 0.99 | +2.13 |
| Martin ratioReturn relative to average drawdown | 12.44 | 2.87 | +9.58 |
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Drawdowns
AVDV vs. CGL-C.TO - Drawdown Comparison
The maximum AVDV drawdown since its inception was -43.01%, roughly equal to the maximum CGL-C.TO drawdown of -42.11%. Use the drawdown chart below to compare losses from any high point for AVDV and CGL-C.TO.
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Drawdown Indicators
| AVDV | CGL-C.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.01% | -42.11% | -0.90% |
Max Drawdown (1Y)Largest decline over 1 year | -13.19% | -24.32% | +11.13% |
Max Drawdown (3Y)Largest decline over 3 years | -14.17% | -24.32% | +10.15% |
Max Drawdown (5Y)Largest decline over 5 years | -28.08% | -24.32% | -3.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.32% | — |
Current DrawdownCurrent decline from peak | -2.24% | -21.86% | +19.62% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -18.51% | +11.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 8.37% | -5.07% |
Volatility
AVDV vs. CGL-C.TO - Volatility Comparison
The current volatility for Avantis International Small Cap Value ETF (AVDV) is 6.26%, while iShares Gold Bullion ETF (CGL-C.TO) has a volatility of 7.57%. This indicates that AVDV experiences smaller price fluctuations and is considered to be less risky than CGL-C.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVDV | CGL-C.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.26% | 7.57% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 13.88% | 22.90% | -9.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.25% | 26.70% | -10.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.41% | 18.22% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.77% | 16.73% | +3.04% |
AVDV vs. CGL-C.TO - Expense Ratio Comparison
AVDV has a 0.36% expense ratio, which is lower than CGL-C.TO's 0.55% expense ratio.
Dividends
AVDV vs. CGL-C.TO - Dividend Comparison
AVDV's dividend yield for the trailing twelve months is around 4.11%, while CGL-C.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AVDV Avantis International Small Cap Value ETF | 4.11% | 3.05% | 4.31% | 3.29% | 3.17% | 2.39% | 1.67% | 0.36% |
CGL-C.TO iShares Gold Bullion ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AVDV and CGL-C.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AVDV is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AVDV is cheaper with a 0.36% expense ratio, compared with 0.55% for CGL-C.TO.
AVDV is categorized as Foreign Small & Mid Cap Equities, while CGL-C.TO is Gold. They also come from different issuers: Avantis and iShares. Their fees differ too: 0.36% for AVDV and 0.55% for CGL-C.TO.
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