CLG.TO vs. GC=F

Last updated Jun 4, 2026

CLG.TO (iShares 1-10 Year Laddered Government Bond Index ETF) is Canadian Government Bonds fund tracking the Morningstar Can Core Bd GR CAD, while GC=F (Gold Futures) is an asset. Over the past 10 years, CLG.TO returned 1.52%/yr vs 14.48%/yr for GC=F. At a 0.26 correlation, their price movements are largely independent.

Performance

CLG.TO vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares 1-10 Year Laddered Government Bond Index ETF (CLG.TO) and Gold Futures (GC=F). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CLG.TO is traded in CAD, while GC=F is traded in USD. To make them comparable, the GC=F values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CLG.TO achieves a 1.12% return, which is significantly lower than GC=F's 4.48% return. Over the past 10 years, CLG.TO has underperformed GC=F with an annualized return of 1.52%, while GC=F has yielded a comparatively higher 14.48% annualized return.

CLG.TO

• 1D: -0.06%
• 1M: 1.14%
• YTD: 1.12%
• 6M: 0.59%
• 1Y: 2.87%
• 3Y*: 4.04%
• 5Y*: 1.34%
• 10Y*: 1.52%

GC=F

• 1D: -0.18%
• 1M: 0.71%
• YTD: 4.48%
• 6M: 5.86%
• 1Y: 34.93%
• 3Y*: 33.26%
• 5Y*: 22.14%
• 10Y*: 14.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CLG.TO vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLG.TO iShares 1-10 Year Laddered Government Bond Index ETF	1.12%	3.35%	4.30%	4.82%	-6.21%	-2.23%	6.66%	3.40%	1.69%	-0.02%
GC=F Gold Futures	4.48%	56.98%	38.43%	10.84%	6.67%	-4.34%	22.48%	13.03%	6.16%	6.36%

Correlation

The correlation between CLG.TO and GC=F is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Oct 27, 2011	0.26

Return for Risk

CLG.TO vs. GC=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CLG.TO

CLG.TO Risk / Return Rank: 27
CLG.TO Sharpe Ratio Rank: 27
CLG.TO Sortino Ratio Rank: 24
CLG.TO Omega Ratio Rank: 26
CLG.TO Calmar Ratio Rank: 31
CLG.TO Martin Ratio Rank: 27

GC=F

GC=F Risk / Return Rank: 52
GC=F Sharpe Ratio Rank: 50
GC=F Sortino Ratio Rank: 49
GC=F Omega Ratio Rank: 47
GC=F Calmar Ratio Rank: 52
GC=F Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLG.TO vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 1-10 Year Laddered Government Bond Index ETF (CLG.TO) and Gold Futures (GC=F). 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.

	CLG.TO	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.32	-0.36
Sortino ratio: Return per unit of downside risk	1.32	1.73	-0.41
Omega ratio: Gain probability vs. loss probability	1.18	1.27	-0.09
Calmar ratio: Return relative to maximum drawdown	1.49	2.05	-0.56
Martin ratio: Return relative to average drawdown	3.71	5.17	-1.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLG.TO vs. GC=F - Sharpe Ratio Comparison

The current CLG.TO Sharpe Ratio is 0.96, which is comparable to the GC=F Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of CLG.TO and GC=F, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CLG.TO	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	1.32	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	1.26	-0.95
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.89	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.64	-0.10

Drawdowns

CLG.TO vs. GC=F - Drawdown Comparison

The maximum CLG.TO drawdown since its inception was -10.74%, smaller than the maximum GC=F drawdown of -32.19%. Use the drawdown chart below to compare losses from any high point for CLG.TO and GC=F.

Drawdown Indicators

	CLG.TO	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-10.74%	-32.19%	+21.45%
Max Drawdown (1Y) Largest decline over 1 year	-1.93%	-16.50%	+14.57%
Max Drawdown (3Y) Largest decline over 3 years	-3.38%	-16.50%	+13.12%
Max Drawdown (5Y) Largest decline over 5 years	-9.96%	-16.69%	+6.73%
Max Drawdown (10Y) Largest decline over 10 years	-10.74%	-22.19%	+11.45%
Current Drawdown Current decline from peak	-0.56%	-14.33%	+13.77%
Average Drawdown Average peak-to-trough decline	-2.00%	-10.57%	+8.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	6.63%	-5.86%

Volatility

CLG.TO vs. GC=F - Volatility Comparison

The current volatility for iShares 1-10 Year Laddered Government Bond Index ETF (CLG.TO) is 1.13%, while Gold Futures (GC=F) has a volatility of 5.15%. This indicates that CLG.TO experiences smaller price fluctuations and is considered to be less risky than GC=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLG.TO	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	5.15%	-4.02%
Volatility (6M) Calculated over the trailing 6-month period	2.34%	21.93%	-19.59%
Volatility (1Y) Calculated over the trailing 1-year period	3.00%	25.55%	-22.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.31%	17.44%	-13.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.34%	16.26%	-11.92%

Frequently Asked Questions

Can I hold both CLG.TO and GC=F in my portfolio?

CLG.TO and GC=F have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.