CGXF.TO vs. GLDX.TO
CGXF.TO (CI Gold+ Giants Covered Call ETF Common) and GLDX.TO (Global X Gold Producers Index ETF) are both Gold funds. CGXF.TO is actively managed, while GLDX.TO is passively managed. Over the past year, CGXF.TO returned 34.27% vs 58.70% for GLDX.TO. Their correlation of 0.94 suggests significant overlap in exposure.
Performance
CGXF.TO vs. GLDX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CGXF.TO achieves a -8.39% return, which is significantly lower than GLDX.TO's -7.62% return.
CGXF.TO
- 1D
- -3.83%
- 1M
- -6.08%
- YTD
- -8.39%
- 6M
- -12.21%
- 1Y
- 34.27%
- 3Y*
- 31.39%
- 5Y*
- 17.95%
- 10Y*
- 9.36%
GLDX.TO
- 1D
- -3.64%
- 1M
- -6.73%
- YTD
- -7.62%
- 6M
- -12.30%
- 1Y
- 58.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CGXF.TO vs. GLDX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CGXF.TO CI Gold+ Giants Covered Call ETF Common | -8.39% | 114.18% | -9.82% |
GLDX.TO Global X Gold Producers Index ETF | -7.62% | 178.05% | -10.27% |
Correlation
The correlation between CGXF.TO and GLDX.TO is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024 | 0.94 |
The correlation between CGXF.TO and GLDX.TO has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
CGXF.TO vs. GLDX.TO — Risk / Return Rank
CGXF.TO
GLDX.TO
CGXF.TO vs. GLDX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Gold+ Giants Covered Call ETF Common (CGXF.TO) and Global X Gold Producers Index ETF (GLDX.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.
| CGXF.TO | GLDX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.23 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.67 | -0.65 |
| Martin ratioReturn relative to average drawdown | 2.74 | 4.38 | -1.64 |
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Drawdowns
CGXF.TO vs. GLDX.TO - Drawdown Comparison
The maximum CGXF.TO drawdown since its inception was -91.79%, which is greater than GLDX.TO's maximum drawdown of -35.22%. Use the drawdown chart below to compare losses from any high point for CGXF.TO and GLDX.TO.
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Drawdown Indicators
| CGXF.TO | GLDX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.79% | -35.22% | -56.57% |
Max Drawdown (1Y)Largest decline over 1 year | -33.65% | -35.22% | +1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -33.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -37.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.68% | — | — |
Current DrawdownCurrent decline from peak | -29.19% | -30.84% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -44.92% | -7.32% | -37.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.55% | 13.47% | -0.92% |
Volatility
CGXF.TO vs. GLDX.TO - Volatility Comparison
CI Gold+ Giants Covered Call ETF Common (CGXF.TO) and Global X Gold Producers Index ETF (GLDX.TO) have volatilities of 15.81% and 16.57%, 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
| CGXF.TO | GLDX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.81% | 16.57% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 34.84% | 38.70% | -3.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.24% | 48.28% | -6.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.44% | 44.49% | -13.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.64% | 44.49% | -13.85% |
Dividends
CGXF.TO vs. GLDX.TO - Dividend Comparison
CGXF.TO's dividend yield for the trailing twelve months is around 13.46%, more than GLDX.TO's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGXF.TO CI Gold+ Giants Covered Call ETF Common | 13.46% | 7.43% | 8.09% | 8.93% | 8.54% | 8.59% | 11.00% | 6.69% | 7.97% | 6.99% | 10.68% | 4.82% |
GLDX.TO Global X Gold Producers Index ETF | 1.05% | 0.97% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, CGXF.TO and GLDX.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
They also come from different issuers: CI and Global X.
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