AVDV vs. CGL.TO
AVDV (Avantis International Small Cap Value ETF) and CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) are both exchange-traded funds - AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis, while CGL.TO is a Gold fund tracking the Gold Bullion. AVDV is actively managed, while CGL.TO is passively managed. Over the past 5 years, AVDV returned 13.63%/yr vs 12.44%/yr for CGL.TO. At a 0.30 correlation, their price movements are largely independent. AVDV charges 0.36%/yr vs 0.55%/yr for CGL.TO.
Performance
AVDV vs. CGL.TO - Performance Comparison
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Different Trading Currencies
AVDV is traded in USD, while CGL.TO is traded in CAD. To make them comparable, the CGL.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.TO's -5.12% return.
AVDV
- 1D
- 0.89%
- 1M
- 0.12%
- YTD
- 14.99%
- 6M
- 17.18%
- 1Y
- 41.91%
- 3Y*
- 26.72%
- 5Y*
- 13.63%
- 10Y*
- —
CGL.TO
- 1D
- 0.07%
- 1M
- -11.35%
- YTD
- -5.12%
- 6M
- -4.61%
- 1Y
- 16.70%
- 3Y*
- 25.29%
- 5Y*
- 12.44%
- 10Y*
- 10.05%
AVDV vs. CGL.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.TO iShares Gold Bullion ETF (CAD-Hedged) | -5.12% | 67.73% | 15.88% | 13.97% | -6.96% | -4.54% | 26.41% | 1.94% |
Correlation
The correlation between AVDV and CGL.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.30 |
The correlation between AVDV and CGL.TO shifts across timeframes, from 0.30 (all time) to 0.48 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AVDV vs. CGL.TO — Risk / Return Rank
AVDV
CGL.TO
AVDV vs. CGL.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 (CAD-Hedged) (CGL.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.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +2.33 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.14 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 0.70 | +2.42 |
| Martin ratioReturn relative to average drawdown | 12.44 | 2.00 | +10.44 |
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Drawdowns
AVDV vs. CGL.TO - Drawdown Comparison
The maximum AVDV drawdown since its inception was -43.01%, smaller than the maximum CGL.TO drawdown of -62.05%. Use the drawdown chart below to compare losses from any high point for AVDV and CGL.TO.
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Drawdown Indicators
| AVDV | CGL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.01% | -62.05% | +19.04% |
Max Drawdown (1Y)Largest decline over 1 year | -13.19% | -27.17% | +13.98% |
Max Drawdown (3Y)Largest decline over 3 years | -14.17% | -27.17% | +13.00% |
Max Drawdown (5Y)Largest decline over 5 years | -28.08% | -27.17% | -0.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.17% | — |
Current DrawdownCurrent decline from peak | -2.24% | -24.91% | +22.67% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -32.74% | +25.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 9.43% | -6.13% |
Volatility
AVDV vs. CGL.TO - Volatility Comparison
The current volatility for Avantis International Small Cap Value ETF (AVDV) is 6.26%, while iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) has a volatility of 7.69%. This indicates that AVDV experiences smaller price fluctuations and is considered to be less risky than CGL.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.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.26% | 7.69% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 13.88% | 24.50% | -10.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.25% | 28.25% | -12.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.41% | 19.70% | -2.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.77% | 17.92% | +1.85% |
AVDV vs. CGL.TO - Expense Ratio Comparison
AVDV has a 0.36% expense ratio, which is lower than CGL.TO's 0.55% expense ratio.
Dividends
AVDV vs. CGL.TO - Dividend Comparison
AVDV's dividend yield for the trailing twelve months is around 4.11%, while CGL.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.TO iShares Gold Bullion ETF (CAD-Hedged) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AVDV and CGL.TO have a correlation of 0.48, 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.TO.
AVDV is categorized as Foreign Small & Mid Cap Equities, while CGL.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.TO.
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