BTCC.TO vs. GLD

Last updated Jun 4, 2026

BTCC.TO (Purpose Bitcoin CAD ETF Currency Hedged Units) and GLD (SPDR Gold Shares) are both exchange-traded funds - BTCC.TO is a Cryptocurrency fund actively managed by Purpose Investments, while GLD is a Gold fund tracking the LBMA Gold Price PM. BTCC.TO is actively managed, while GLD is passively managed. Over the past 5 years, BTCC.TO returned 8.41%/yr vs 21.53%/yr for GLD. At a correlation of -0.02, they often move in opposite directions. BTCC.TO charges 1.00%/yr vs 0.40%/yr for GLD.

Performance

BTCC.TO vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Bitcoin CAD ETF Currency Hedged Units (BTCC.TO) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BTCC.TO is traded in CAD, while GLD is traded in USD. To make them comparable, the GLD values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BTCC.TO achieves a -26.80% return, which is significantly lower than GLD's 4.23% return.

BTCC.TO

• 1D: -2.83%
• 1M: -18.68%
• YTD: -26.80%
• 6M: -31.17%
• 1Y: -40.83%
• 3Y*: 29.76%
• 5Y*: 8.41%
• 10Y*: —

GLD

• 1D: -0.58%
• 1M: 0.31%
• YTD: 4.23%
• 6M: 5.02%
• 1Y: 33.74%
• 3Y*: 32.62%
• 5Y*: 21.53%
• 10Y*: 13.94%

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

BTCC.TO vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BTCC.TO Purpose Bitcoin CAD ETF Currency Hedged Units	-26.80%	-9.18%	116.50%	149.22%	-65.78%	-7.04%
GLD SPDR Gold Shares	4.23%	56.17%	37.54%	10.21%	6.30%	2.52%

Correlation

The correlation between BTCC.TO and GLD is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Feb 19, 2021	-0.02

The correlation between BTCC.TO and GLD shifts across timeframes, from -0.02 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BTCC.TO vs. GLD — Risk / Return Rank

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

BTCC.TO

BTCC.TO Risk / Return Rank: 2
BTCC.TO Sharpe Ratio Rank: 2
BTCC.TO Sortino Ratio Rank: 2
BTCC.TO Omega Ratio Rank: 2
BTCC.TO Calmar Ratio Rank: 2
BTCC.TO Martin Ratio Rank: 2

GLD

GLD Risk / Return Rank: 32
GLD Sharpe Ratio Rank: 32
GLD Sortino Ratio Rank: 29
GLD Omega Ratio Rank: 35
GLD Calmar Ratio Rank: 33
GLD Martin Ratio Rank: 28

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.

BTCC.TO vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Bitcoin CAD ETF Currency Hedged Units (BTCC.TO) and SPDR Gold Shares (GLD). 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.

	BTCC.TO	GLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.95	1.34	-2.28
Sortino ratio: Return per unit of downside risk	-1.35	1.75	-3.09
Omega ratio: Gain probability vs. loss probability	0.85	1.27	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.82	1.96	-2.78
Martin ratio: Return relative to average drawdown	-1.41	4.81	-6.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCC.TO vs. GLD - Sharpe Ratio Comparison

The current BTCC.TO Sharpe Ratio is -0.95, which is lower than the GLD Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of BTCC.TO and GLD, 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

	BTCC.TO	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.95	1.34	-2.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	1.28	-1.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.65	-0.60

Drawdowns

BTCC.TO vs. GLD - Drawdown Comparison

The maximum BTCC.TO drawdown since its inception was -77.80%, which is greater than GLD's maximum drawdown of -33.56%. Use the drawdown chart below to compare losses from any high point for BTCC.TO and GLD.

Drawdown Indicators

	BTCC.TO	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-77.80%	-33.56%	-44.24%
Max Drawdown (1Y) Largest decline over 1 year	-50.04%	-17.28%	-32.76%
Max Drawdown (3Y) Largest decline over 3 years	-50.04%	-17.28%	-32.76%
Max Drawdown (5Y) Largest decline over 5 years	-77.80%	-17.47%	-60.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.85%	—
Current Drawdown Current decline from peak	-49.32%	-15.45%	-33.87%
Average Drawdown Average peak-to-trough decline	-34.63%	-11.64%	-22.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.07%	7.04%	+22.03%

Volatility

BTCC.TO vs. GLD - Volatility Comparison

Purpose Bitcoin CAD ETF Currency Hedged Units (BTCC.TO) has a higher volatility of 9.89% compared to SPDR Gold Shares (GLD) at 5.37%. This indicates that BTCC.TO's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCC.TO	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.89%	5.37%	+4.52%
Volatility (6M) Calculated over the trailing 6-month period	34.00%	21.82%	+12.18%
Volatility (1Y) Calculated over the trailing 1-year period	43.32%	25.39%	+17.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.47%	16.86%	+38.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.81%	15.40%	+41.41%

BTCC.TO vs. GLD - Expense Ratio Comparison

BTCC.TO has a 1.00% expense ratio, which is higher than GLD's 0.40% expense ratio.

Dividends

BTCC.TO vs. GLD - Dividend Comparison

Neither BTCC.TO nor GLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BTCC.TO and GLD in my portfolio?

BTCC.TO and GLD have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BTCC.TO or GLD?

On fees, GLD is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BTCC.TO or GLD?

GLD is cheaper with a 0.40% expense ratio, compared with 1.00% for BTCC.TO.

What is the main difference between BTCC.TO and GLD?

BTCC.TO is categorized as Cryptocurrency, while GLD is Gold. They also come from different issuers: Purpose Investments and State Street. Their fees differ too: 1.00% for BTCC.TO and 0.40% for GLD.