CGL-C.TO vs. AVDV
CGL-C.TO (iShares Gold Bullion ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - CGL-C.TO is a Gold fund tracking the LBMA Gold Price (CAD), while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. CGL-C.TO is passively managed, while AVDV is actively managed. Over the past 5 years, CGL-C.TO returned 20.15%/yr vs 16.96%/yr for AVDV. At a 0.09 correlation, their price movements are largely independent. CGL-C.TO charges 0.55%/yr vs 0.36%/yr for AVDV.
Performance
CGL-C.TO vs. AVDV - Performance Comparison
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Different Trading Currencies
CGL-C.TO is traded in CAD, while AVDV is traded in USD. To make them comparable, the AVDV values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CGL-C.TO achieves a -0.61% return, which is significantly lower than AVDV's 17.32% return.
CGL-C.TO
- 1D
- 0.29%
- 1M
- -7.80%
- YTD
- -0.61%
- 6M
- -0.87%
- 1Y
- 25.43%
- 3Y*
- 30.79%
- 5Y*
- 20.15%
- 10Y*
- 12.86%
AVDV
- 1D
- 1.08%
- 1M
- -0.08%
- YTD
- 17.32%
- 6M
- 18.86%
- 1Y
- 45.84%
- 3Y*
- 28.62%
- 5Y*
- 16.96%
- 10Y*
- —
CGL-C.TO vs. AVDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CGL-C.TO iShares Gold Bullion ETF | -0.61% | 55.55% | 37.41% | 10.13% | 6.11% | -4.85% | 21.75% | -1.33% |
AVDV Avantis International Small Cap Value ETF | 17.32% | 42.55% | 17.87% | 14.07% | -5.86% | 15.74% | 2.51% | 10.13% |
Correlation
The correlation between CGL-C.TO and AVDV is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.09 |
Over the past year, CGL-C.TO and AVDV have become more correlated (0.39) than their long-term average of 0.09, meaning their price movements have been converging.
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Return for Risk
CGL-C.TO vs. AVDV — Risk / Return Rank
CGL-C.TO
AVDV
CGL-C.TO vs. AVDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CGL-C.TO) and Avantis International Small Cap Value ETF (AVDV). 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.
| CGL-C.TO | AVDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.46 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 3.46 | -2.24 |
| Martin ratioReturn relative to average drawdown | 3.49 | 14.20 | -10.71 |
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Drawdowns
CGL-C.TO vs. AVDV - Drawdown Comparison
The maximum CGL-C.TO drawdown since its inception was -30.01%, smaller than the maximum AVDV drawdown of -37.43%. Use the drawdown chart below to compare losses from any high point for CGL-C.TO and AVDV.
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Drawdown Indicators
| CGL-C.TO | AVDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.01% | -37.43% | +7.42% |
Max Drawdown (1Y)Largest decline over 1 year | -22.11% | -12.81% | -9.30% |
Max Drawdown (3Y)Largest decline over 3 years | -22.11% | -14.53% | -7.58% |
Max Drawdown (5Y)Largest decline over 5 years | -22.11% | -22.53% | +0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -22.78% | — | — |
Current DrawdownCurrent decline from peak | -19.39% | -1.05% | -18.34% |
Average DrawdownAverage peak-to-trough decline | -10.71% | -5.01% | -5.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.71% | 3.12% | +4.59% |
Volatility
CGL-C.TO vs. AVDV - Volatility Comparison
iShares Gold Bullion ETF (CGL-C.TO) has a higher volatility of 7.53% compared to Avantis International Small Cap Value ETF (AVDV) at 6.39%. This indicates that CGL-C.TO's price experiences larger fluctuations and is considered to be riskier than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGL-C.TO | AVDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.53% | 6.39% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 22.46% | 14.17% | +8.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.11% | 16.48% | +9.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.20% | 18.25% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.65% | 20.45% | -4.80% |
CGL-C.TO vs. AVDV - Expense Ratio Comparison
CGL-C.TO has a 0.55% expense ratio, which is higher than AVDV's 0.36% expense ratio.
Dividends
CGL-C.TO vs. AVDV - Dividend Comparison
CGL-C.TO has not paid dividends to shareholders, while AVDV's dividend yield for the trailing twelve months is around 4.11%.
| 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
CGL-C.TO and AVDV have a correlation of 0.39, 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.
CGL-C.TO is categorized as Gold, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.55% for CGL-C.TO and 0.36% for AVDV.
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