PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
CGL-C.TO vs. XEI.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CGL-C.TO vs. XEI.TO

Last updated Jun 4, 2026

CGL-C.TO (iShares Gold Bullion ETF) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - CGL-C.TO is a Precious Metals fund tracking the Gold, while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. Both are passively managed. Over the past 10 years, CGL-C.TO returned 13.74%/yr vs 12.32%/yr for XEI.TO. At a correlation of -0.07, they often move in opposite directions. CGL-C.TO charges 0.55%/yr vs 0.22%/yr for XEI.TO.

Performance

CGL-C.TO vs. XEI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Gold Bullion ETF (CGL-C.TO) and iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, CGL-C.TO achieves a 4.39% return, which is significantly lower than XEI.TO's 22.21% return. Over the past 10 years, CGL-C.TO has outperformed XEI.TO with an annualized return of 13.74%, while XEI.TO has yielded a comparatively lower 12.32% 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%

XEI.TO

1D
0.00%
1M
3.33%
YTD
22.21%
6M
23.56%
1Y
43.59%
3Y*
22.26%
5Y*
15.55%
10Y*
12.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CGL-C.TO vs. XEI.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		22.21%25.96%15.42%6.69%0.41%35.88%-7.53%25.44%-10.85%7.24%

Correlation

The correlation between CGL-C.TO and XEI.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.13

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (5Y)
Calculated over the trailing 5-year period

0.03

Correlation (10Y)
Calculated over the trailing 10-year period

-0.07

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2011

-0.07

The correlation between CGL-C.TO and XEI.TO shifts across timeframes, from -0.07 (10 years) to 0.13 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Gold Bullion ETF

iShares S&P/TSX Composite High Dividend Index ETF

Often compared with CGL-C.TO:
CGL-C.TO vs. CGL.TOCGL-C.TO vs. MNT.TOCGL-C.TO vs. GLDCGL-C.TO vs. PHYS.TOCGL-C.TO vs. ZGLD.TOCGL-C.TO vs. ABX.TOCGL-C.TO vs. XMD.TO
Often compared with XEI.TO:
XEI.TO vs. VDY.TOXEI.TO vs. XDIV.TOXEI.TO vs. XEQT.TOXEI.TO vs. VFV.TOXEI.TO vs. ZDV.TOXEI.TO vs. CDZ.TOXEI.TO vs. XDV.TO

Return for Risk

CGL-C.TO vs. XEI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CGL-C.TO
CGL-C.TO Risk / Return Rank: 3535
Overall Rank
CGL-C.TO Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
CGL-C.TO Sortino Ratio Rank: 3232
Sortino Ratio Rank
CGL-C.TO Omega Ratio Rank: 4040
Omega Ratio Rank
CGL-C.TO Calmar Ratio Rank: 3838
Calmar Ratio Rank
CGL-C.TO Martin Ratio Rank: 3131
Martin Ratio Rank
XEI.TO
XEI.TO Risk / Return Rank: 9898
Overall Rank
XEI.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XEI.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9898
Martin Ratio Rank
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.

CGL-C.TO vs. XEI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CGL-C.TO) and iShares S&P/TSX Composite High Dividend Index ETF (XEI.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.TOXEI.TODifference
Sharpe ratioReturn per unit of total volatility
1.33
6.08

-4.75

Sortino ratioReturn per unit of downside risk
1.75
9.07

-7.31

Omega ratioGain probability vs. loss probability

1.27

2.27

-1.01

Calmar ratioReturn relative to maximum drawdown

1.94

19.53

-17.58

Martin ratioReturn relative to average drawdown

4.77

66.28

-61.52

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGL-C.TO vs. XEI.TO - Sharpe Ratio Comparison

The current CGL-C.TO Sharpe Ratio is 1.33, which is lower than the XEI.TO Sharpe Ratio of 6.08. The chart below compares the historical Sharpe Ratios of CGL-C.TO and XEI.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

CGL-C.TOXEI.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.33

6.08

-4.75

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.26

1.39

-0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.89

0.77

+0.12

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.67

-0.07

Drawdowns

CGL-C.TO vs. XEI.TO - Drawdown Comparison

The maximum CGL-C.TO drawdown since its inception was -33.04%, smaller than the maximum XEI.TO drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for CGL-C.TO and XEI.TO.

Loading charts...

Drawdown Indicators

CGL-C.TOXEI.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.04%

-45.51%

+12.47%

Max Drawdown (1Y)

Largest decline over 1 year

-17.37%

-2.24%

-15.13%

Max Drawdown (3Y)

Largest decline over 3 years

-17.37%

-9.92%

-7.45%

Max Drawdown (5Y)

Largest decline over 5 years

-17.55%

-17.32%

-0.23%

Max Drawdown (10Y)

Largest decline over 10 years

-22.78%

-45.51%

+22.73%

Current Drawdown

Current decline from peak

-15.34%

-0.76%

-14.58%

Average Drawdown

Average peak-to-trough decline

-12.24%

-5.05%

-7.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.06%

0.66%

+6.40%

Volatility

CGL-C.TO vs. XEI.TO - Volatility Comparison

iShares Gold Bullion ETF (CGL-C.TO) has a higher volatility of 5.33% compared to iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) at 2.87%. This indicates that CGL-C.TO's price experiences larger fluctuations and is considered to be riskier than XEI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

CGL-C.TOXEI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.33%

2.87%

+2.46%

Volatility (6M)

Calculated over the trailing 6-month period

21.56%

6.01%

+15.55%

Volatility (1Y)

Calculated over the trailing 1-year period

25.35%

7.21%

+18.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.98%

11.24%

+5.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.56%

16.01%

-0.45%

CGL-C.TO vs. XEI.TO - Expense Ratio Comparison

CGL-C.TO has a 0.55% expense ratio, which is higher than XEI.TO's 0.22% expense ratio.

Dividends

CGL-C.TO vs. XEI.TO - Dividend Comparison

CGL-C.TO has not paid dividends to shareholders, while XEI.TO's dividend yield for the trailing twelve months is around 3.56%.

PositionTTM20252024202320222021202020192018201720162015
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%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.56%4.39%5.56%5.08%4.78%3.65%5.13%4.71%5.53%4.37%4.51%5.75%

Frequently Asked Questions

CGL-C.TO and XEI.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.55% for CGL-C.TO.

CGL-C.TO is categorized as Precious Metals, while XEI.TO is Canada Equities. CGL-C.TO tracks Gold, while XEI.TO tracks S&P/TSX Composite High Dividend Index. Their fees differ too: 0.55% for CGL-C.TO and 0.22% for XEI.TO.

Portfolio Optimizer

Find the right allocation for CGL-C.TO and XEI.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer