CGL.TO vs. GLDM
Compare and contrast key facts about iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) and SPDR Gold MiniShares Trust (GLDM).
CGL.TO and GLDM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CGL.TO is a passively managed fund by iShares that tracks the performance of the Gold Bullion. It was launched on May 28, 2009. GLDM is a passively managed fund by State Street that tracks the performance of the LBMA Gold PM Price. It was launched on Jun 25, 2018. Both CGL.TO and GLDM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CGL.TO or GLDM.
Key characteristics
| CGL.TO | GLDM | |
|---|---|---|
| YTD Return | 12.12% | 12.42% |
| 1Y Return | 14.91% | 15.90% |
| 3Y Return (Ann) | 7.95% | 9.18% |
| 5Y Return (Ann) | 11.31% | 12.42% |
| Sharpe Ratio | 1.23 | 1.35 |
| Daily Std Dev | 12.50% | 12.21% |
| Max Drawdown | -45.96% | -21.63% |
| Current Drawdown | -3.24% | -2.95% |
Correlation
The correlation between CGL.TO and GLDM is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
CGL.TO vs. GLDM - Performance Comparison
The year-to-date returns for both investments are quite close, with CGL.TO having a 12.12% return and GLDM slightly higher at 12.42%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CGL.TO vs. GLDM - Expense Ratio Comparison
CGL.TO has a 0.55% expense ratio, which is higher than GLDM's 0.18% expense ratio.
Risk-Adjusted Performance
CGL.TO vs. GLDM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) and SPDR Gold MiniShares Trust (GLDM). 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.
Dividends
CGL.TO vs. GLDM - Dividend Comparison
Neither CGL.TO nor GLDM has paid dividends to shareholders.
Drawdowns
CGL.TO vs. GLDM - Drawdown Comparison
The maximum CGL.TO drawdown since its inception was -45.96%, which is greater than GLDM's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for CGL.TO and GLDM. For additional features, visit the drawdowns tool.
Volatility
CGL.TO vs. GLDM - Volatility Comparison
iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) has a higher volatility of 5.47% compared to SPDR Gold MiniShares Trust (GLDM) at 5.08%. This indicates that CGL.TO's price experiences larger fluctuations and is considered to be riskier than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.