CLG.TO vs. GC=F

Last updated Apr 2, 2026

Compare and contrast key facts about iShares 1-10 Year Laddered Government Bond Index ETF (CLG.TO) and Gold (GC=F).

CLG.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Can Core Bd GR CAD. It was launched on Oct 20, 2011.

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 (GC=F). The values are adjusted to include any dividend payments, if applicable.

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	0.29%	3.35%	4.30%	4.82%	-6.21%	-2.23%	6.66%	3.40%	1.69%	-0.02%
GC=F Gold	12.01%	56.98%	38.43%	10.84%	6.67%	-4.34%	22.48%	13.03%	6.16%	6.36%

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 0.29% return, which is significantly lower than GC=F's 12.01% 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 15.38% annualized return.

CLG.TO

• 1D: -0.06%
• 1M: -1.04%
• YTD: 0.29%
• 6M: 0.24%
• 1Y: 1.40%
• 3Y*: 3.38%
• 5Y*: 1.29%
• 10Y*: 1.52%

GC=F

• 1D: 2.80%
• 1M: -8.16%
• YTD: 12.01%
• 6M: 23.37%
• 1Y: 49.05%
• 3Y*: 35.69%
• 5Y*: 25.15%
• 10Y*: 15.38%

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

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: 24
CLG.TO Sharpe Ratio Rank: 24
CLG.TO Sortino Ratio Rank: 21
CLG.TO Omega Ratio Rank: 20
CLG.TO Calmar Ratio Rank: 29
CLG.TO Martin Ratio Rank: 24

GC=F

GC=F Risk / Return Rank: 91
GC=F Sharpe Ratio Rank: 100
GC=F Sortino Ratio Rank: 100
GC=F Omega Ratio Rank: 94
GC=F Calmar Ratio Rank: 71
GC=F Martin Ratio Rank: 92

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 (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	0.46	1.79	-1.33
Sortino ratio Return per unit of downside risk	0.63	2.21	-1.58
Omega ratio Gain probability vs. loss probability	1.08	1.34	-0.26
Calmar ratio Return relative to maximum drawdown	0.82	2.96	-2.14
Martin ratio Return relative to average drawdown	1.96	10.73	-8.77
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 0.46, which is lower than the GC=F Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of CLG.TO and GC=F, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CLG.TO	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	1.79	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	1.45	-1.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.95	-0.59
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.66	-0.13

Correlation

The correlation between CLG.TO and GC=F is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

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%	-44.36%	+33.62%
Max Drawdown (1Y) Largest decline over 1 year	-1.93%	-17.73%	+15.80%
Max Drawdown (5Y) Largest decline over 5 years	-9.96%	-20.43%	+10.47%
Max Drawdown (10Y) Largest decline over 10 years	-10.74%	-20.87%	+10.13%
Current Drawdown Current decline from peak	-1.38%	-10.04%	+8.66%
Average Drawdown Average peak-to-trough decline	-2.01%	-13.03%	+11.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	4.78%	-3.97%

Volatility

CLG.TO vs. GC=F - Volatility Comparison

The current volatility for iShares 1-10 Year Laddered Government Bond Index ETF (CLG.TO) is 1.31%, while Gold (GC=F) has a volatility of 11.04%. 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	1.31%	11.04%	-9.73%
Volatility (6M) Calculated over the trailing 6-month period	2.03%	23.90%	-21.87%
Volatility (1Y) Calculated over the trailing 1-year period	3.05%	26.41%	-23.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.27%	17.24%	-12.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.32%	16.20%	-11.88%