CGL.TO vs. XTLH.TO
CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) and XTLH.TO (iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)) are both exchange-traded funds - CGL.TO is a Gold fund tracking the Gold Bullion, while XTLH.TO is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged). Both are passively managed. Over the past year, CGL.TO returned 22.95% vs 2.20% for XTLH.TO. At a 0.14 correlation, their price movements are largely independent. CGL.TO charges 0.55%/yr vs 0.18%/yr for XTLH.TO.
Performance
CGL.TO vs. XTLH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CGL.TO achieves a -0.75% return, which is significantly lower than XTLH.TO's -0.61% 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%
XTLH.TO
- 1D
- -0.03%
- 1M
- 2.76%
- YTD
- -0.61%
- 6M
- -0.52%
- 1Y
- 2.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CGL.TO vs. XTLH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | -0.75% | 60.08% | 25.70% | -0.72% |
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | -0.61% | 2.61% | -9.55% | -1.06% |
Correlation
The correlation between CGL.TO and XTLH.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023 | 0.14 |
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Return for Risk
CGL.TO vs. XTLH.TO — Risk / Return Rank
CGL.TO
XTLH.TO
CGL.TO vs. XTLH.TO - 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 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.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.
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 | XTLH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.05 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 0.26 | +0.66 |
| Martin ratioReturn relative to average drawdown | 2.64 | 0.63 | +2.01 |
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Drawdowns
CGL.TO vs. XTLH.TO - Drawdown Comparison
The maximum CGL.TO drawdown since its inception was -45.96%, which is greater than XTLH.TO's maximum drawdown of -15.86%. Use the drawdown chart below to compare losses from any high point for CGL.TO and XTLH.TO.
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Drawdown Indicators
| CGL.TO | XTLH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.96% | -15.86% | -30.10% |
Max Drawdown (1Y)Largest decline over 1 year | -24.93% | -8.37% | -16.56% |
Max Drawdown (3Y)Largest decline over 3 years | -24.93% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.93% | — | — |
Current DrawdownCurrent decline from peak | -20.54% | -11.50% | -9.04% |
Average DrawdownAverage peak-to-trough decline | -20.30% | -9.14% | -11.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.75% | 3.49% | +5.26% |
Volatility
CGL.TO vs. XTLH.TO - Volatility Comparison
iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) has a higher volatility of 8.23% compared to iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) at 3.04%. This indicates that CGL.TO's price experiences larger fluctuations and is considered to be riskier than XTLH.TO 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 | XTLH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.23% | 3.04% | +5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 24.17% | 6.56% | +17.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.71% | 9.51% | +18.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.58% | 12.41% | +6.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.55% | 12.41% | +4.14% |
CGL.TO vs. XTLH.TO - Expense Ratio Comparison
CGL.TO has a 0.55% expense ratio, which is higher than XTLH.TO's 0.18% expense ratio.
Dividends
CGL.TO vs. XTLH.TO - Dividend Comparison
CGL.TO has not paid dividends to shareholders, while XTLH.TO's dividend yield for the trailing twelve months is around 4.60%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | 0.00% | 0.00% | 0.00% | 0.00% |
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | 4.60% | 4.42% | 4.32% | 0.51% |
Frequently Asked Questions
CGL.TO and XTLH.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XTLH.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTLH.TO is cheaper with a 0.18% expense ratio, compared with 0.55% for CGL.TO.
CGL.TO is categorized as Gold, while XTLH.TO is Government Bonds. CGL.TO tracks Gold Bullion, while XTLH.TO tracks ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged). Their fees differ too: 0.55% for CGL.TO and 0.18% for XTLH.TO.
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