CGL.TO vs. ITA
CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) and ITA (iShares U.S. Aerospace & Defense ETF) are both exchange-traded funds - CGL.TO is a Gold fund tracking the Gold Bullion, while ITA is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index. Both are passively managed. Over the past 10 years, CGL.TO returned 11.18%/yr vs 16.45%/yr for ITA. At a 0.03 correlation, their price movements are largely independent. CGL.TO charges 0.55%/yr vs 0.38%/yr for ITA.
Performance
CGL.TO vs. ITA - Performance Comparison
Loading charts...
Different Trading Currencies
CGL.TO is traded in CAD, while ITA is traded in USD. To make them comparable, the ITA 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 -0.75% return, which is significantly lower than ITA's 12.90% return. Over the past 10 years, CGL.TO has underperformed ITA with an annualized return of 11.18%, while ITA has yielded a comparatively higher 16.45% annualized return.
CGL.TO
- 1D
- 2.52%
- 1M
- -5.26%
- YTD
- -0.75%
- 6M
- -0.60%
- 1Y
- 22.95%
- 3Y*
- 27.87%
- 5Y*
- 16.95%
- 10Y*
- 11.18%
ITA
- 1D
- 1.55%
- 1M
- 11.25%
- YTD
- 12.90%
- 6M
- 15.01%
- 1Y
- 36.10%
- 3Y*
- 30.29%
- 5Y*
- 20.65%
- 10Y*
- 16.45%
CGL.TO vs. ITA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | -0.75% | 60.08% | 25.70% | 11.26% | -1.07% | -4.58% | 23.41% | 16.58% | -3.19% | 11.68% |
ITA iShares U.S. Aerospace & Defense ETF | 12.90% | 41.86% | 25.62% | 11.61% | 16.93% | 9.34% | -15.62% | 25.13% | 0.58% | 26.09% |
Correlation
The correlation between CGL.TO and ITA is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2010 | 0.03 |
Over the past year, CGL.TO and ITA have become more correlated (0.27) than their long-term average of 0.03, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CGL.TO vs. ITA — Risk / Return Rank
CGL.TO
ITA
CGL.TO vs. ITA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) and iShares U.S. Aerospace & Defense ETF (ITA). 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 | ITA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.28 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 2.43 | -1.51 |
| Martin ratioReturn relative to average drawdown | 2.64 | 6.14 | -3.50 |
Loading charts...
Drawdowns
CGL.TO vs. ITA - Drawdown Comparison
The maximum CGL.TO drawdown since its inception was -45.96%, roughly equal to the maximum ITA drawdown of -47.26%. Use the drawdown chart below to compare losses from any high point for CGL.TO and ITA.
Loading charts...
Drawdown Indicators
| CGL.TO | ITA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.96% | -47.26% | +1.30% |
Max Drawdown (1Y)Largest decline over 1 year | -24.93% | -14.91% | -10.02% |
Max Drawdown (3Y)Largest decline over 3 years | -24.93% | -17.29% | -7.64% |
Max Drawdown (5Y)Largest decline over 5 years | -24.93% | -17.29% | -7.64% |
Max Drawdown (10Y)Largest decline over 10 years | -24.93% | -46.69% | +21.76% |
Current DrawdownCurrent decline from peak | -20.54% | -3.08% | -17.46% |
Average DrawdownAverage peak-to-trough decline | -20.30% | -8.88% | -11.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.75% | 5.89% | +2.86% |
Volatility
CGL.TO vs. ITA - Volatility Comparison
The current volatility for iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) is 8.23%, while iShares U.S. Aerospace & Defense ETF (ITA) has a volatility of 9.26%. This indicates that CGL.TO experiences smaller price fluctuations and is considered to be less risky than ITA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CGL.TO | ITA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.23% | 9.26% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 24.17% | 19.10% | +5.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.71% | 22.39% | +5.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.58% | 21.34% | -2.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.55% | 24.04% | -7.49% |
CGL.TO vs. ITA - Expense Ratio Comparison
CGL.TO has a 0.55% expense ratio, which is higher than ITA's 0.38% expense ratio.
Dividends
CGL.TO vs. ITA - Dividend Comparison
CGL.TO has not paid dividends to shareholders, while ITA's dividend yield for the trailing twelve months is around 0.52%.
| 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% |
ITA iShares U.S. Aerospace & Defense ETF | 0.52% | 0.55% | 0.85% | 0.93% | 0.95% | 0.82% | 1.07% | 1.54% | 1.13% | 0.91% | 1.07% | 1.04% |
Frequently Asked Questions
CGL.TO and ITA have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITA is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITA is cheaper with a 0.38% expense ratio, compared with 0.55% for CGL.TO.
CGL.TO is categorized as Gold, while ITA is Aerospace & Defense. CGL.TO tracks Gold Bullion, while ITA tracks Dow Jones U.S. Select Aerospace & Defense Index. Their fees differ too: 0.55% for CGL.TO and 0.38% for ITA.
Find the right allocation for CGL.TO and ITA
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