BRNT.L vs. ZGD.TO
BRNT.L (WisdomTree Brent Crude Oil) and ZGD.TO (BMO Equal Weight Global Gold Index ETF) are both exchange-traded funds - BRNT.L is a Oil & Gas fund tracking the Bloomberg Brent Crude Subindex, while ZGD.TO is a Gold fund tracking the Solactive Equal Weight Global Gold Index. Both are passively managed. Over the past 10 years, BRNT.L returned 13.59%/yr vs 17.29%/yr for ZGD.TO. At a 0.09 correlation, their price movements are largely independent. BRNT.L charges 0.49%/yr vs 0.60%/yr for ZGD.TO.
Performance
BRNT.L vs. ZGD.TO - Performance Comparison
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Different Trading Currencies
BRNT.L is traded in USD, while ZGD.TO is traded in CAD. To make them comparable, the ZGD.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BRNT.L achieves a 80.13% return, which is significantly higher than ZGD.TO's 6.15% return. Over the past 10 years, BRNT.L has underperformed ZGD.TO with an annualized return of 13.59%, while ZGD.TO has yielded a comparatively higher 17.29% annualized return.
BRNT.L
- 1D
- -2.63%
- 1M
- -1.61%
- YTD
- 80.13%
- 6M
- 75.56%
- 1Y
- 82.10%
- 3Y*
- 24.57%
- 5Y*
- 23.51%
- 10Y*
- 13.59%
ZGD.TO
- 1D
- 1.11%
- 1M
- 1.29%
- YTD
- 6.15%
- 6M
- 14.40%
- 1Y
- 81.51%
- 3Y*
- 55.37%
- 5Y*
- 27.28%
- 10Y*
- 17.29%
BRNT.L vs. ZGD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BRNT.L WisdomTree Brent Crude Oil | 80.13% | -6.34% | 7.45% | 1.08% | 35.10% | 66.26% | -33.22% | 32.15% | -13.92% | 12.39% |
ZGD.TO BMO Equal Weight Global Gold Index ETF | 6.14% | 183.60% | 26.62% | 12.68% | -8.84% | -11.93% | 29.13% | 61.39% | -18.92% | 6.12% |
Correlation
The correlation between BRNT.L and ZGD.TO is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 27, 2012 | 0.09 |
The correlation between BRNT.L and ZGD.TO shifts across timeframes, from -0.13 (1 year) to 0.11 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BRNT.L vs. ZGD.TO — Risk / Return Rank
BRNT.L
ZGD.TO
BRNT.L vs. ZGD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Brent Crude Oil (BRNT.L) and BMO Equal Weight Global Gold Index ETF (ZGD.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.
| BRNT.L | ZGD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.30 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.51 | 2.69 | +1.82 |
| Martin ratioReturn relative to average drawdown | 8.41 | 7.16 | +1.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BRNT.L | ZGD.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 1.76 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.71 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.44 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.21 | -0.17 |
Drawdowns
BRNT.L vs. ZGD.TO - Drawdown Comparison
The maximum BRNT.L drawdown since its inception was -85.97%, which is greater than ZGD.TO's maximum drawdown of -71.35%. Use the drawdown chart below to compare losses from any high point for BRNT.L and ZGD.TO.
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Drawdown Indicators
| BRNT.L | ZGD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.97% | -71.35% | -14.62% |
Max Drawdown (1Y)Largest decline over 1 year | -18.66% | -30.50% | +11.84% |
Max Drawdown (3Y)Largest decline over 3 years | -24.88% | -30.50% | +5.62% |
Max Drawdown (5Y)Largest decline over 5 years | -31.44% | -47.13% | +15.69% |
Max Drawdown (10Y)Largest decline over 10 years | -71.94% | -52.49% | -19.45% |
Current DrawdownCurrent decline from peak | -9.61% | -23.21% | +13.60% |
Average DrawdownAverage peak-to-trough decline | -48.63% | -35.11% | -13.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.02% | 11.41% | -1.39% |
Volatility
BRNT.L vs. ZGD.TO - Volatility Comparison
WisdomTree Brent Crude Oil (BRNT.L) and BMO Equal Weight Global Gold Index ETF (ZGD.TO) have volatilities of 15.37% and 16.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRNT.L | ZGD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.37% | 16.05% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 36.91% | 37.68% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.09% | 46.48% | -4.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.68% | 38.87% | -4.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.36% | 39.38% | -4.02% |
BRNT.L vs. ZGD.TO - Expense Ratio Comparison
BRNT.L has a 0.49% expense ratio, which is lower than ZGD.TO's 0.60% expense ratio.
Dividends
BRNT.L vs. ZGD.TO - Dividend Comparison
BRNT.L has not paid dividends to shareholders, while ZGD.TO's dividend yield for the trailing twelve months is around 0.20%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRNT.L WisdomTree Brent Crude Oil | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZGD.TO BMO Equal Weight Global Gold Index ETF | 0.20% | 0.22% | 0.59% | 0.76% | 0.77% | 0.38% | 0.16% | 1.20% | 0.00% | 0.00% | 0.32% | 0.46% |
Frequently Asked Questions
BRNT.L and ZGD.TO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BRNT.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BRNT.L is cheaper with a 0.49% expense ratio, compared with 0.60% for ZGD.TO.
BRNT.L is categorized as Oil & Gas, while ZGD.TO is Gold. BRNT.L tracks Bloomberg Brent Crude Subindex, while ZGD.TO tracks Solactive Equal Weight Global Gold Index. They also come from different issuers: WisdomTree and BMO. Their fees differ too: 0.49% for BRNT.L and 0.60% for ZGD.TO.
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