CJP.NEO vs. XGD.TO
CJP.NEO (iShares Japan Fundamental Index ETF (CAD-Hedged)) and XGD.TO (iShares S&P/TSX Global Gold Index ETF) are both exchange-traded funds - CJP.NEO is a Japan Equities fund tracking the FTSE RAFI Japan Canadian Dollar Hedged Index, while XGD.TO is a Gold fund tracking the S&P/TSX Global Gold Index. Both are passively managed. Over the past 10 years, CJP.NEO returned 16.43%/yr vs 12.09%/yr for XGD.TO. At a 0.02 correlation, their price movements are largely independent. CJP.NEO charges 0.71%/yr vs 0.61%/yr for XGD.TO.
Performance
CJP.NEO vs. XGD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CJP.NEO achieves a 20.36% return, which is significantly higher than XGD.TO's -7.98% return. Over the past 10 years, CJP.NEO has outperformed XGD.TO with an annualized return of 16.43%, while XGD.TO has yielded a comparatively lower 12.09% annualized return.
CJP.NEO
- 1D
- 0.88%
- 1M
- 2.18%
- 6M
- 15.65%
- YTD
- 20.36%
- 1Y
- 43.34%
- 3Y*
- 28.63%
- 5Y*
- 23.84%
- 10Y*
- 16.43%
- ALL TIME*
- 10.52%
XGD.TO
- 1D
- 0.24%
- 1M
- -0.94%
- 6M
- -25.75%
- YTD
- -7.98%
- 1Y
- 47.41%
- 3Y*
- 38.42%
- 5Y*
- 22.15%
- 10Y*
- 12.09%
- ALL TIME*
- 5.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$1.04M | CA$644.80K | CA$793.54K | |
| CA$16.33M | CA$17.63M | CA$21.80M |
CJP.NEO vs. XGD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 20.36% | 30.67% | 26.74% | 35.03% | 3.67% | 18.19% | 0.18% | 13.12% | -17.35% | 21.33% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | -7.98% | 144.45% | 19.63% | 3.91% | -3.13% | -5.81% | 21.10% | 40.18% | -4.10% | 0.96% |
Correlation
The correlation between CJP.NEO and XGD.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009 | 0.02 |
Over the past year, CJP.NEO and XGD.TO have become more correlated (0.36) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
CJP.NEO vs. XGD.TO — Risk / Return Rank
CJP.NEO
XGD.TO
CJP.NEO vs. XGD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) and iShares S&P/TSX Global Gold Index ETF (XGD.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.
| CJP.NEO | XGD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.20 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 1.32 | +2.66 |
| Martin ratioReturn relative to average drawdown | 14.47 | 3.04 | +11.43 |
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Drawdowns
CJP.NEO vs. XGD.TO - Drawdown Comparison
The maximum CJP.NEO drawdown since its inception was -38.36%, smaller than the maximum XGD.TO drawdown of -72.56%. Use the drawdown chart below to compare losses from any high point for CJP.NEO and XGD.TO.
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Drawdown Indicators
| CJP.NEO | XGD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.36% | -72.56% | +34.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.99% | -36.01% | +25.02% |
Max Drawdown (3Y)Largest decline over 3 years | -20.86% | -36.01% | +15.15% |
Max Drawdown (5Y)Largest decline over 5 years | -20.86% | -40.82% | +19.96% |
Max Drawdown (10Y)Largest decline over 10 years | -37.75% | -46.96% | +9.21% |
Current DrawdownCurrent decline from peak | -1.97% | -31.87% | +29.90% |
Average DrawdownAverage peak-to-trough decline | -11.09% | -32.04% | +20.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 15.65% | -12.63% |
Volatility
CJP.NEO vs. XGD.TO - Volatility Comparison
The current volatility for iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) is 4.78%, while iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a volatility of 10.85%. This indicates that CJP.NEO experiences smaller price fluctuations and is considered to be less risky than XGD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CJP.NEO | XGD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.78% | 10.85% | -6.07% |
Volatility (6M)Calculated over the trailing 6-month period | 14.23% | 37.17% | -22.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.70% | 45.71% | -27.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.43% | 33.41% | -14.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.28% | 33.53% | -14.25% |
CJP.NEO vs. XGD.TO - Expense Ratio Comparison
CJP.NEO has a 0.71% expense ratio, which is higher than XGD.TO's 0.61% expense ratio.
Dividends
CJP.NEO vs. XGD.TO - Dividend Comparison
CJP.NEO's dividend yield for the trailing twelve months is around 1.16%, more than XGD.TO's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 1.16% | 1.48% | 1.71% | 1.24% | 1.96% | 1.56% | 1.97% | 2.42% | 2.38% | 1.48% | 0.97% | 0.84% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | 0.89% | 0.62% | 0.93% | 1.49% | 1.77% | 1.38% | 0.35% | 0.54% | 0.25% | 0.14% | 0.10% | 0.57% |
Frequently Asked Questions
CJP.NEO and XGD.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGD.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGD.TO is cheaper with a 0.61% expense ratio, compared with 0.71% for CJP.NEO.
CJP.NEO is categorized as Japan Equities, while XGD.TO is Gold. CJP.NEO tracks FTSE RAFI Japan Canadian Dollar Hedged Index, while XGD.TO tracks S&P/TSX Global Gold Index. Their fees differ too: 0.71% for CJP.NEO and 0.61% for XGD.TO.
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