CGL-C.TO vs. XIU.TO

Last updated Jun 5, 2026

CGL-C.TO (iShares Gold Bullion ETF) and XIU.TO (iShares S&P/TSX 60 Index ETF) are both exchange-traded funds - CGL-C.TO is a Precious Metals fund tracking the Gold, while XIU.TO is a Canada Equities fund tracking the S&P/TSX 60 Index. Both are passively managed. Over the past 10 years, CGL-C.TO returned 13.90%/yr vs 12.74%/yr for XIU.TO. At a 0.01 correlation, their price movements are largely independent. CGL-C.TO charges 0.55%/yr vs 0.18%/yr for XIU.TO.

Performance

CGL-C.TO vs. XIU.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 60 Index ETF (XIU.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGL-C.TO achieves a 4.95% return, which is significantly lower than XIU.TO's 11.56% return. Over the past 10 years, CGL-C.TO has outperformed XIU.TO with an annualized return of 13.90%, while XIU.TO has yielded a comparatively lower 12.74% annualized return.

CGL-C.TO

• 1D: 0.54%
• 1M: 0.13%
• YTD: 4.95%
• 6M: 5.44%
• 1Y: 33.77%
• 3Y*: 32.37%
• 5Y*: 21.43%
• 10Y*: 13.90%

XIU.TO

• 1D: 1.29%
• 1M: 5.10%
• YTD: 11.56%
• 6M: 12.35%
• 1Y: 33.92%
• 3Y*: 23.20%
• 5Y*: 14.66%
• 10Y*: 12.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CGL-C.TO iShares Gold Bullion ETF	4.95%	55.55%	37.41%	10.13%	6.11%	-4.85%	21.75%	11.98%	6.86%	4.31%
XIU.TO iShares S&P/TSX 60 Index ETF	11.56%	28.89%	20.73%	11.85%	-6.35%	28.06%	5.27%	21.81%	-7.82%	9.58%

Correlation

The correlation between CGL-C.TO and XIU.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Apr 11, 2011	0.01

Over the past year, CGL-C.TO and XIU.TO have become more correlated (0.34) than their long-term average of 0.01, meaning their price movements have been converging.

Return for Risk

CGL-C.TO vs. XIU.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: 37
CGL-C.TO Sharpe Ratio Rank: 38
CGL-C.TO Sortino Ratio Rank: 34
CGL-C.TO Omega Ratio Rank: 41
CGL-C.TO Calmar Ratio Rank: 40
CGL-C.TO Martin Ratio Rank: 32

XIU.TO

XIU.TO Risk / Return Rank: 87
XIU.TO Sharpe Ratio Rank: 88
XIU.TO Sortino Ratio Rank: 87
XIU.TO Omega Ratio Rank: 86
XIU.TO Calmar Ratio Rank: 84
XIU.TO Martin Ratio Rank: 90

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. XIU.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 60 Index ETF (XIU.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	XIU.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.89	-1.56
Sortino ratio: Return per unit of downside risk	1.76	3.86	-2.10
Omega ratio: Gain probability vs. loss probability	1.27	1.52	-0.26
Calmar ratio: Return relative to maximum drawdown	1.95	4.45	-2.50
Martin ratio: Return relative to average drawdown	4.76	20.69	-15.93
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. XIU.TO - Sharpe Ratio Comparison

The current CGL-C.TO Sharpe Ratio is 1.34, which is lower than the XIU.TO Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of CGL-C.TO and XIU.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.

Sharpe Ratios by Period

	CGL-C.TO	XIU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	2.89	-1.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.27	1.15	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.85	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.51	+0.09

Drawdowns

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

The maximum CGL-C.TO drawdown since its inception was -33.04%, smaller than the maximum XIU.TO drawdown of -52.31%. Use the drawdown chart below to compare losses from any high point for CGL-C.TO and XIU.TO.

Drawdown Indicators

	CGL-C.TO	XIU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-33.04%	-52.31%	+19.27%
Max Drawdown (1Y) Largest decline over 1 year	-17.37%	-7.65%	-9.72%
Max Drawdown (3Y) Largest decline over 3 years	-17.37%	-12.36%	-5.01%
Max Drawdown (5Y) Largest decline over 5 years	-17.55%	-16.36%	-1.19%
Max Drawdown (10Y) Largest decline over 10 years	-22.78%	-35.46%	+12.68%
Current Drawdown Current decline from peak	-14.88%	0.00%	-14.88%
Average Drawdown Average peak-to-trough decline	-12.24%	-11.62%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.12%	1.64%	+5.48%

Volatility

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

iShares Gold Bullion ETF (CGL-C.TO) has a higher volatility of 5.29% compared to iShares S&P/TSX 60 Index ETF (XIU.TO) at 3.43%. This indicates that CGL-C.TO's price experiences larger fluctuations and is considered to be riskier than XIU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGL-C.TO	XIU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	3.43%	+1.86%
Volatility (6M) Calculated over the trailing 6-month period	21.55%	9.39%	+12.16%
Volatility (1Y) Calculated over the trailing 1-year period	25.34%	11.79%	+13.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.97%	12.79%	+4.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.56%	15.01%	+0.55%

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

CGL-C.TO has a 0.55% expense ratio, which is higher than XIU.TO's 0.18% expense ratio.

Dividends

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

CGL-C.TO has not paid dividends to shareholders, while XIU.TO's dividend yield for the trailing twelve months is around 2.17%.

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%
XIU.TO iShares S&P/TSX 60 Index ETF	2.17%	2.39%	2.92%	3.16%	3.02%	2.43%	3.03%	2.87%	3.18%	2.58%	2.65%	3.19%

Frequently Asked Questions

Can I hold both CGL-C.TO and XIU.TO in my portfolio?

CGL-C.TO and XIU.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CGL-C.TO or XIU.TO?

On fees, XIU.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CGL-C.TO or XIU.TO?

XIU.TO is cheaper with a 0.18% expense ratio, compared with 0.55% for CGL-C.TO.

What is the main difference between CGL-C.TO and XIU.TO?

CGL-C.TO is categorized as Precious Metals, while XIU.TO is Canada Equities. CGL-C.TO tracks Gold, while XIU.TO tracks S&P/TSX 60 Index. Their fees differ too: 0.55% for CGL-C.TO and 0.18% for XIU.TO.