CGL-C.TO vs. KILO.TO
CGL-C.TO (iShares Gold Bullion ETF) and KILO.TO (Purpose Gold Bullion Fund) are both Gold funds. CGL-C.TO is passively managed, while KILO.TO is actively managed. Over the past 5 years, CGL-C.TO returned 20.25%/yr vs 15.98%/yr for KILO.TO. Their correlation of 0.87 suggests significant overlap in exposure. CGL-C.TO charges 0.55%/yr vs 0.28%/yr for KILO.TO.
Performance
CGL-C.TO vs. KILO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CGL-C.TO achieves a -4.25% return, which is significantly higher than KILO.TO's -8.68% return.
CGL-C.TO
- 1D
- -2.94%
- 1M
- -10.10%
- YTD
- -4.25%
- 6M
- -7.52%
- 1Y
- 23.69%
- 3Y*
- 30.05%
- 5Y*
- 20.25%
- 10Y*
- 12.02%
KILO.TO
- 1D
- -3.18%
- 1M
- -12.27%
- YTD
- -8.68%
- 6M
- -12.08%
- 1Y
- 16.96%
- 3Y*
- 25.38%
- 5Y*
- 15.98%
- 10Y*
- —
CGL-C.TO vs. KILO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CGL-C.TO iShares Gold Bullion ETF | -4.25% | 55.55% | 37.41% | 10.13% | 6.11% | -4.85% | -5.96% |
KILO.TO Purpose Gold Bullion Fund | -8.68% | 60.17% | 25.97% | 12.15% | -0.90% | -4.72% | -2.21% |
Correlation
The correlation between CGL-C.TO and KILO.TO is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Aug 20, 2020 | 0.87 |
The correlation between CGL-C.TO and KILO.TO has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.
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Return for Risk
CGL-C.TO vs. KILO.TO — Risk / Return Rank
CGL-C.TO
KILO.TO
CGL-C.TO vs. KILO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CGL-C.TO) and Purpose Gold Bullion Fund (KILO.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.
| CGL-C.TO | KILO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.14 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 0.63 | +0.43 |
| Martin ratioReturn relative to average drawdown | 2.83 | 1.77 | +1.05 |
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Drawdowns
CGL-C.TO vs. KILO.TO - Drawdown Comparison
The maximum CGL-C.TO drawdown since its inception was -30.01%, which is greater than KILO.TO's maximum drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for CGL-C.TO and KILO.TO.
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Drawdown Indicators
| CGL-C.TO | KILO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.01% | -26.91% | -3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -22.35% | -26.91% | +4.56% |
Max Drawdown (3Y)Largest decline over 3 years | -22.35% | -26.91% | +4.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.35% | -26.91% | +4.56% |
Max Drawdown (10Y)Largest decline over 10 years | -22.78% | — | — |
Current DrawdownCurrent decline from peak | -22.35% | -26.91% | +4.56% |
Average DrawdownAverage peak-to-trough decline | -10.73% | -6.80% | -3.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.40% | 9.58% | -1.18% |
Volatility
CGL-C.TO vs. KILO.TO - Volatility Comparison
iShares Gold Bullion ETF (CGL-C.TO) and Purpose Gold Bullion Fund (KILO.TO) have volatilities of 8.27% and 8.35%, 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
| CGL-C.TO | KILO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.27% | 8.35% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 22.81% | 23.81% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.48% | 27.43% | -0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 18.18% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.57% | 17.90% | -2.33% |
CGL-C.TO vs. KILO.TO - Expense Ratio Comparison
CGL-C.TO has a 0.55% expense ratio, which is higher than KILO.TO's 0.28% expense ratio.
Dividends
CGL-C.TO vs. KILO.TO - Dividend Comparison
Neither CGL-C.TO nor KILO.TO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CGL-C.TO iShares Gold Bullion ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KILO.TO Purpose Gold Bullion Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.41% |
Frequently Asked Questions
With a correlation of 0.95, CGL-C.TO and KILO.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, KILO.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KILO.TO is cheaper with a 0.28% expense ratio, compared with 0.55% for CGL-C.TO.
They also come from different issuers: iShares and Purpose Investments. Their fees differ too: 0.55% for CGL-C.TO and 0.28% for KILO.TO.
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