CGL-C.TO vs. PFF
CGL-C.TO (iShares Gold Bullion ETF) and PFF (iShares Preferred and Income Securities ETF) are both exchange-traded funds - CGL-C.TO is a Precious Metals fund tracking the Gold, while PFF is a Preferred Stock/Convertible Bonds fund tracking the S&P U.S. Preferred Stock Index. Both are passively managed. Over the past 10 years, CGL-C.TO returned 13.74%/yr vs 4.05%/yr for PFF. At a 0.10 correlation, their price movements are largely independent. CGL-C.TO charges 0.55%/yr vs 0.46%/yr for PFF.
Performance
CGL-C.TO vs. PFF - Performance Comparison
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Different Trading Currencies
CGL-C.TO is traded in CAD, while PFF is traded in USD. To make them comparable, the PFF values have been converted to CAD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with CGL-C.TO having a 4.39% return and PFF slightly lower at 4.24%. Over the past 10 years, CGL-C.TO has outperformed PFF with an annualized return of 13.74%, while PFF has yielded a comparatively lower 4.05% annualized 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%
PFF
- 1D
- -0.26%
- 1M
- 2.35%
- YTD
- 4.24%
- 6M
- 3.01%
- 1Y
- 10.76%
- 3Y*
- 7.94%
- 5Y*
- 4.40%
- 10Y*
- 4.05%
CGL-C.TO vs. PFF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGL-C.TO iShares Gold Bullion ETF | 4.39% | 55.55% | 37.41% | 10.13% | 6.11% | -4.85% | 21.75% | 11.98% | 6.86% | 4.31% |
PFF iShares Preferred and Income Securities ETF | 4.24% | 0.06% | 16.45% | 6.81% | -12.36% | 6.18% | 6.06% | 10.23% | 3.45% | 1.22% |
Correlation
The correlation between CGL-C.TO and PFF is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2011 | 0.10 |
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Return for Risk
CGL-C.TO vs. PFF — Risk / Return Rank
CGL-C.TO
PFF
CGL-C.TO vs. PFF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CGL-C.TO) and iShares Preferred and Income Securities ETF (PFF). 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 | PFF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 1.98 | -0.04 |
| Martin ratioReturn relative to average drawdown | 4.77 | 5.74 | -0.97 |
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 | PFF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 1.49 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.26 | 0.47 | +0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.34 | +0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.67 | -0.08 |
Drawdowns
CGL-C.TO vs. PFF - Drawdown Comparison
The maximum CGL-C.TO drawdown since its inception was -33.04%, which is greater than PFF's maximum drawdown of -27.99%. Use the drawdown chart below to compare losses from any high point for CGL-C.TO and PFF.
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Drawdown Indicators
| CGL-C.TO | PFF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.04% | -27.99% | -5.05% |
Max Drawdown (1Y)Largest decline over 1 year | -17.37% | -5.46% | -11.91% |
Max Drawdown (3Y)Largest decline over 3 years | -17.37% | -11.76% | -5.61% |
Max Drawdown (5Y)Largest decline over 5 years | -17.55% | -16.02% | -1.53% |
Max Drawdown (10Y)Largest decline over 10 years | -22.78% | -27.99% | +5.21% |
Current DrawdownCurrent decline from peak | -15.34% | -0.26% | -15.08% |
Average DrawdownAverage peak-to-trough decline | -12.24% | -3.69% | -8.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.06% | 1.88% | +5.18% |
Volatility
CGL-C.TO vs. PFF - Volatility Comparison
iShares Gold Bullion ETF (CGL-C.TO) has a higher volatility of 5.33% compared to iShares Preferred and Income Securities ETF (PFF) at 2.02%. This indicates that CGL-C.TO's price experiences larger fluctuations and is considered to be riskier than PFF 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 | PFF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.33% | 2.02% | +3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 21.56% | 5.59% | +15.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.35% | 7.26% | +18.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.98% | 9.48% | +7.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.56% | 11.89% | +3.67% |
CGL-C.TO vs. PFF - Expense Ratio Comparison
CGL-C.TO has a 0.55% expense ratio, which is higher than PFF's 0.46% expense ratio.
Dividends
CGL-C.TO vs. PFF - Dividend Comparison
CGL-C.TO has not paid dividends to shareholders, while PFF's dividend yield for the trailing twelve months is around 5.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGL-C.TO iShares Gold Bullion ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFF iShares Preferred and Income Securities ETF | 5.47% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
Frequently Asked Questions
CGL-C.TO and PFF have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PFF is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PFF is cheaper with a 0.46% expense ratio, compared with 0.55% for CGL-C.TO.
CGL-C.TO is categorized as Precious Metals, while PFF is Preferred Stock/Convertible Bonds. CGL-C.TO tracks Gold, while PFF tracks S&P U.S. Preferred Stock Index. Their fees differ too: 0.55% for CGL-C.TO and 0.46% for PFF.
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