CGL.TO vs. STIP
CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) and STIP (iShares 0-5 Year TIPS Bond ETF) are both exchange-traded funds - CGL.TO is a Gold fund tracking the Gold Bullion, while STIP is a Inflation-Protected Bonds fund tracking the Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). Both are passively managed. Over the past 10 years, CGL.TO returned 10.99%/yr vs 4.02%/yr for STIP. At a 0.09 correlation, their price movements are largely independent. CGL.TO charges 0.55%/yr vs 0.06%/yr for STIP.
Performance
CGL.TO vs. STIP - Performance Comparison
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Different Trading Currencies
CGL.TO is traded in CAD, while STIP is traded in USD. To make them comparable, the STIP 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 STIP's 3.93% return. Over the past 10 years, CGL.TO has outperformed STIP with an annualized return of 10.99%, while STIP has yielded a comparatively lower 4.02% 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%
STIP
- 1D
- 0.16%
- 1M
- 1.86%
- YTD
- 3.93%
- 6M
- 3.42%
- 1Y
- 7.43%
- 3Y*
- 6.83%
- 5Y*
- 6.41%
- 10Y*
- 4.02%
CGL.TO vs. STIP - 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% |
STIP iShares 0-5 Year TIPS Bond ETF | 3.93% | 1.19% | 13.64% | 2.15% | 3.13% | 5.63% | 2.69% | 0.57% | 8.99% | -6.08% |
Correlation
The correlation between CGL.TO and STIP is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2010 | 0.09 |
The correlation between CGL.TO and STIP shifts across timeframes, from 0.01 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CGL.TO vs. STIP — Risk / Return Rank
CGL.TO
STIP
CGL.TO vs. STIP - 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 0-5 Year TIPS Bond ETF (STIP). 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 | STIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.27 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 1.83 | -0.96 |
| Martin ratioReturn relative to average drawdown | 2.49 | 4.85 | -2.36 |
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Drawdowns
CGL.TO vs. STIP - Drawdown Comparison
The maximum CGL.TO drawdown since its inception was -45.96%, which is greater than STIP's maximum drawdown of -13.93%. Use the drawdown chart below to compare losses from any high point for CGL.TO and STIP.
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Drawdown Indicators
| CGL.TO | STIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.96% | -13.93% | -32.03% |
Max Drawdown (1Y)Largest decline over 1 year | -24.93% | -3.81% | -21.12% |
Max Drawdown (3Y)Largest decline over 3 years | -24.93% | -5.66% | -19.27% |
Max Drawdown (5Y)Largest decline over 5 years | -24.93% | -5.66% | -19.27% |
Max Drawdown (10Y)Largest decline over 10 years | -24.93% | -11.46% | -13.47% |
Current DrawdownCurrent decline from peak | -22.50% | 0.00% | -22.50% |
Average DrawdownAverage peak-to-trough decline | -20.30% | -3.29% | -17.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.66% | 1.43% | +7.23% |
Volatility
CGL.TO vs. STIP - Volatility Comparison
iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) has a higher volatility of 7.67% compared to iShares 0-5 Year TIPS Bond ETF (STIP) at 0.95%. This indicates that CGL.TO's price experiences larger fluctuations and is considered to be riskier than STIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGL.TO | STIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.67% | 0.95% | +6.72% |
Volatility (6M)Calculated over the trailing 6-month period | 24.08% | 3.29% | +20.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.61% | 4.74% | +22.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.54% | 6.73% | +11.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 6.99% | +9.54% |
CGL.TO vs. STIP - Expense Ratio Comparison
CGL.TO has a 0.55% expense ratio, which is higher than STIP's 0.06% expense ratio.
Dividends
CGL.TO vs. STIP - Dividend Comparison
CGL.TO has not paid dividends to shareholders, while STIP's dividend yield for the trailing twelve months is around 4.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
STIP iShares 0-5 Year TIPS Bond ETF | 4.31% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% |
Frequently Asked Questions
CGL.TO and STIP have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, STIP is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
STIP is cheaper with a 0.06% expense ratio, compared with 0.55% for CGL.TO.
CGL.TO is categorized as Gold, while STIP is Inflation-Protected Bonds. CGL.TO tracks Gold Bullion, while STIP tracks Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). Their fees differ too: 0.55% for CGL.TO and 0.06% for STIP.
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