CGL.TO vs. IDMO
CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) and IDMO (Invesco S&P International Developed Momentum ETF) are both exchange-traded funds - CGL.TO is a Gold fund tracking the Gold Bullion, while IDMO is a Momentum fund tracking the S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index. Both are passively managed. Over the past 10 years, CGL.TO returned 10.99%/yr vs 13.60%/yr for IDMO. At a 0.11 correlation, their price movements are largely independent. CGL.TO charges 0.55%/yr vs 0.25%/yr for IDMO.
Performance
CGL.TO vs. IDMO - Performance Comparison
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Different Trading Currencies
CGL.TO is traded in CAD, while IDMO is traded in USD. To make them comparable, the IDMO values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CGL.TO achieves a -3.19% return, which is significantly lower than IDMO's 10.37% return. Over the past 10 years, CGL.TO has underperformed IDMO with an annualized return of 10.99%, while IDMO has yielded a comparatively higher 13.60% annualized return.
CGL.TO
- 1D
- 0.25%
- 1M
- -9.62%
- YTD
- -3.19%
- 6M
- -3.25%
- 1Y
- 19.93%
- 3Y*
- 27.16%
- 5Y*
- 15.73%
- 10Y*
- 10.99%
IDMO
- 1D
- 1.54%
- 1M
- 0.96%
- YTD
- 10.37%
- 6M
- 11.66%
- 1Y
- 28.17%
- 3Y*
- 27.08%
- 5Y*
- 18.89%
- 10Y*
- 13.60%
CGL.TO vs. IDMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | -3.19% | 60.08% | 25.70% | 11.26% | -1.07% | -4.58% | 23.41% | 16.58% | -3.19% | 11.68% |
IDMO Invesco S&P International Developed Momentum ETF | 10.37% | 35.68% | 22.34% | 17.30% | -6.45% | 14.25% | 19.11% | 20.89% | -9.65% | 20.46% |
Correlation
The correlation between CGL.TO and IDMO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | 0.11 |
Over the past year, CGL.TO and IDMO have become more correlated (0.37) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
CGL.TO vs. IDMO — Risk / Return Rank
CGL.TO
IDMO
CGL.TO vs. IDMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) and Invesco S&P International Developed Momentum ETF (IDMO). 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.TO | IDMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.26 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 2.18 | -1.31 |
| Martin ratioReturn relative to average drawdown | 2.49 | 8.88 | -6.38 |
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Drawdowns
CGL.TO vs. IDMO - Drawdown Comparison
The maximum CGL.TO drawdown since its inception was -45.96%, which is greater than IDMO's maximum drawdown of -30.46%. Use the drawdown chart below to compare losses from any high point for CGL.TO and IDMO.
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Drawdown Indicators
| CGL.TO | IDMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.96% | -30.46% | -15.50% |
Max Drawdown (1Y)Largest decline over 1 year | -24.93% | -11.93% | -13.00% |
Max Drawdown (3Y)Largest decline over 3 years | -24.93% | -13.13% | -11.80% |
Max Drawdown (5Y)Largest decline over 5 years | -24.93% | -21.90% | -3.03% |
Max Drawdown (10Y)Largest decline over 10 years | -24.93% | -25.51% | +0.58% |
Current DrawdownCurrent decline from peak | -22.50% | -0.71% | -21.79% |
Average DrawdownAverage peak-to-trough decline | -20.30% | -6.98% | -13.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.66% | 2.93% | +5.73% |
Volatility
CGL.TO vs. IDMO - Volatility Comparison
iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) and Invesco S&P International Developed Momentum ETF (IDMO) have volatilities of 7.67% and 8.05%, 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.TO | IDMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.67% | 8.05% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 24.08% | 16.28% | +7.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.61% | 18.31% | +9.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.54% | 19.00% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 19.23% | -2.70% |
CGL.TO vs. IDMO - Expense Ratio Comparison
CGL.TO has a 0.55% expense ratio, which is higher than IDMO's 0.25% expense ratio.
Dividends
CGL.TO vs. IDMO - Dividend Comparison
CGL.TO has not paid dividends to shareholders, while IDMO's dividend yield for the trailing twelve months is around 3.52%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IDMO Invesco S&P International Developed Momentum ETF | 3.52% | 3.71% | 2.24% | 2.89% | 3.66% | 1.81% | 1.63% | 2.78% | 3.27% | 3.08% | 2.18% | 2.52% |
Frequently Asked Questions
CGL.TO and IDMO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IDMO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IDMO is cheaper with a 0.25% expense ratio, compared with 0.55% for CGL.TO.
CGL.TO is categorized as Gold, while IDMO is Momentum. CGL.TO tracks Gold Bullion, while IDMO tracks S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.55% for CGL.TO and 0.25% for IDMO.
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