CGL-C.TO vs. HSAV.TO
CGL-C.TO (iShares Gold Bullion ETF) and HSAV.TO (Global X Cash Maximizer Corporate Class ETF) are both exchange-traded funds - CGL-C.TO is a Precious Metals fund tracking the Gold, while HSAV.TO is a Bank Loan fund actively managed by Global X. CGL-C.TO is passively managed, while HSAV.TO is actively managed. Over the past 5 years, CGL-C.TO returned 21.30%/yr vs 3.20%/yr for HSAV.TO. At a correlation of -0.02, they often move in opposite directions. CGL-C.TO charges 0.55%/yr vs 0.18%/yr for HSAV.TO.
Performance
CGL-C.TO vs. HSAV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CGL-C.TO achieves a 4.39% return, which is significantly higher than HSAV.TO's 1.04% return.
CGL-C.TO
- 1D
- -0.29%
- 1M
- 0.43%
- YTD
- 4.39%
- 6M
- 5.02%
- 1Y
- 33.57%
- 3Y*
- 32.37%
- 5Y*
- 21.30%
- 10Y*
- 13.74%
HSAV.TO
- 1D
- -0.03%
- 1M
- 0.15%
- YTD
- 1.04%
- 6M
- 1.55%
- 1Y
- 2.70%
- 3Y*
- 3.71%
- 5Y*
- 3.20%
- 10Y*
- —
CGL-C.TO vs. HSAV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CGL-C.TO iShares Gold Bullion ETF | 4.39% | 55.55% | 37.41% | 10.13% | 6.11% | -4.85% | 15.54% |
HSAV.TO Global X Cash Maximizer Corporate Class ETF | 1.04% | 2.58% | 4.24% | 5.04% | 2.79% | 0.66% | 0.74% |
Correlation
The correlation between CGL-C.TO and HSAV.TO is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2020 | -0.02 |
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Return for Risk
CGL-C.TO vs. HSAV.TO — Risk / Return Rank
CGL-C.TO
HSAV.TO
CGL-C.TO vs. HSAV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CGL-C.TO) and Global X Cash Maximizer Corporate Class ETF (HSAV.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.
| CGL-C.TO | HSAV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.37 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 4.58 | -2.64 |
| Martin ratioReturn relative to average drawdown | 4.77 | 12.46 | -7.70 |
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
| CGL-C.TO | HSAV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 1.96 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.26 | 1.82 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 1.72 | -1.12 |
Drawdowns
CGL-C.TO vs. HSAV.TO - Drawdown Comparison
The maximum CGL-C.TO drawdown since its inception was -33.04%, which is greater than HSAV.TO's maximum drawdown of -2.18%. Use the drawdown chart below to compare losses from any high point for CGL-C.TO and HSAV.TO.
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Drawdown Indicators
| CGL-C.TO | HSAV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.04% | -2.18% | -30.86% |
Max Drawdown (1Y)Largest decline over 1 year | -17.37% | -0.59% | -16.78% |
Max Drawdown (3Y)Largest decline over 3 years | -17.37% | -1.06% | -16.31% |
Max Drawdown (5Y)Largest decline over 5 years | -17.55% | -2.18% | -15.37% |
Max Drawdown (10Y)Largest decline over 10 years | -22.78% | — | — |
Current DrawdownCurrent decline from peak | -15.34% | -0.18% | -15.16% |
Average DrawdownAverage peak-to-trough decline | -12.24% | -0.19% | -12.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.06% | 0.22% | +6.84% |
Volatility
CGL-C.TO vs. HSAV.TO - Volatility Comparison
iShares Gold Bullion ETF (CGL-C.TO) has a higher volatility of 5.33% compared to Global X Cash Maximizer Corporate Class ETF (HSAV.TO) at 0.48%. This indicates that CGL-C.TO's price experiences larger fluctuations and is considered to be riskier than HSAV.TO 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 | HSAV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.33% | 0.48% | +4.85% |
Volatility (6M)Calculated over the trailing 6-month period | 21.56% | 1.05% | +20.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.35% | 1.39% | +23.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.98% | 1.77% | +15.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.56% | 1.58% | +13.98% |
CGL-C.TO vs. HSAV.TO - Expense Ratio Comparison
CGL-C.TO has a 0.55% expense ratio, which is higher than HSAV.TO's 0.18% expense ratio.
Dividends
CGL-C.TO vs. HSAV.TO - Dividend Comparison
Neither CGL-C.TO nor HSAV.TO has paid dividends to shareholders.
Frequently Asked Questions
CGL-C.TO and HSAV.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HSAV.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HSAV.TO is cheaper with a 0.18% expense ratio, compared with 0.55% for CGL-C.TO.
CGL-C.TO is categorized as Precious Metals, while HSAV.TO is Bank Loan. They also come from different issuers: iShares and Global X. Their fees differ too: 0.55% for CGL-C.TO and 0.18% for HSAV.TO.
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