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ENB.TO vs. XGD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ENB.TO vs. XGD.TO

Last updated Jun 13, 2026

ENB.TO (Enbridge Inc.) is a stock, while XGD.TO (iShares S&P/TSX Global Gold Index ETF) is Gold fund tracking the S&P/TSX Global Gold Index. Over the past 10 years, ENB.TO returned 10.59%/yr vs 14.21%/yr for XGD.TO. At a 0.10 correlation, their price movements are largely independent.

Performance

ENB.TO vs. XGD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Enbridge Inc. (ENB.TO) and iShares S&P/TSX Global Gold Index ETF (XGD.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ENB.TO achieves a 23.42% return, which is significantly higher than XGD.TO's -2.21% return. Over the past 10 years, ENB.TO has underperformed XGD.TO with an annualized return of 10.59%, while XGD.TO has yielded a comparatively higher 14.21% annualized return.

ENB.TO

1D
0.13%
1M
3.74%
YTD
23.42%
6M
23.83%
1Y
31.58%
3Y*
24.19%
5Y*
17.63%
10Y*
10.59%

XGD.TO

1D
2.99%
1M
-13.12%
YTD
-2.21%
6M
-1.55%
1Y
56.40%
3Y*
41.86%
5Y*
21.08%
10Y*
14.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ENB.TO vs. XGD.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ENB.TO
Enbridge Inc.		23.42%14.09%37.18%-3.28%13.96%29.98%-15.30%29.43%-8.30%-8.84%
XGD.TO
iShares S&P/TSX Global Gold Index ETF		-2.21%144.45%19.63%3.91%-3.13%-5.81%21.10%40.18%-4.10%0.96%

Correlation

The correlation between ENB.TO and XGD.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.04

Correlation (3Y)
Calculated over the trailing 3-year period

0.16

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (10Y)
Calculated over the trailing 10-year period

0.10

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.10

The correlation between ENB.TO and XGD.TO shifts across timeframes, from 0.04 (1 year) to 0.19 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Enbridge Inc.

iShares S&P/TSX Global Gold Index ETF

Often compared with ENB.TO:
ENB.TO vs. CNQ.TOENB.TO vs. PPL.TOENB.TO vs. SU.TOENB.TO vs. WCP.TOENB.TO vs. TRP.TOENB.TO vs. TD.TOENB.TO vs. BCE.TO
Often compared with XGD.TO:
XGD.TO vs. CGL.TOXGD.TO vs. GLDXGD.TO vs. ZGD.TOXGD.TO vs. MNT.TOXGD.TO vs. BRK-BXGD.TO vs. ZGLD.TOXGD.TO vs. ZGLD.SW

Return for Risk

ENB.TO vs. XGD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ENB.TO
ENB.TO Risk / Return Rank: 8787
Overall Rank
ENB.TO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
ENB.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
ENB.TO Omega Ratio Rank: 8585
Omega Ratio Rank
ENB.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
ENB.TO Martin Ratio Rank: 8686
Martin Ratio Rank
XGD.TO
XGD.TO Risk / Return Rank: 4040
Overall Rank
XGD.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
XGD.TO Sortino Ratio Rank: 3838
Sortino Ratio Rank
XGD.TO Omega Ratio Rank: 4343
Omega Ratio Rank
XGD.TO Calmar Ratio Rank: 4141
Calmar Ratio Rank
XGD.TO Martin Ratio Rank: 3636
Martin Ratio Rank
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.

ENB.TO vs. XGD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB.TO) 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.

ENB.TOXGD.TODifference
Sharpe ratioReturn per unit of total volatility
2.00
1.35

+0.64

Sortino ratioReturn per unit of downside risk
2.83
1.75

+1.08

Omega ratioGain probability vs. loss probability

1.34

1.25

+0.09

Calmar ratioReturn relative to maximum drawdown

3.30

1.81

+1.49

Martin ratioReturn relative to average drawdown

8.61

5.00

+3.61

ENB.TO vs. XGD.TO - Sharpe Ratio Comparison

The current ENB.TO Sharpe Ratio is 2.00, which is higher than the XGD.TO Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of ENB.TO and XGD.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ENB.TO vs. XGD.TO - Drawdown Comparison

The maximum ENB.TO drawdown since its inception was -39.47%, smaller than the maximum XGD.TO drawdown of -72.56%. Use the drawdown chart below to compare losses from any high point for ENB.TO and XGD.TO.

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Drawdown Indicators

ENB.TOXGD.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.47%

-72.56%

+33.09%

Max Drawdown (1Y)

Largest decline over 1 year

-9.42%

-33.06%

+23.64%

Max Drawdown (3Y)

Largest decline over 3 years

-11.56%

-33.06%

+21.50%

Max Drawdown (5Y)

Largest decline over 5 years

-21.38%

-40.82%

+19.44%

Max Drawdown (10Y)

Largest decline over 10 years

-39.47%

-46.96%

+7.49%

Current Drawdown

Current decline from peak

-1.51%

-27.60%

+26.09%

Average Drawdown

Average peak-to-trough decline

-8.34%

-31.89%

+23.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.66%

11.91%

-8.25%

Volatility

ENB.TO vs. XGD.TO - Volatility Comparison

The current volatility for Enbridge Inc. (ENB.TO) is 5.97%, while iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a volatility of 16.16%. This indicates that ENB.TO 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

ENB.TOXGD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.97%

16.16%

-10.19%

Volatility (6M)

Calculated over the trailing 6-month period

12.62%

36.04%

-23.42%

Volatility (1Y)

Calculated over the trailing 1-year period

15.64%

44.26%

-28.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.69%

32.95%

-17.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.43%

33.55%

-11.12%

Dividends

ENB.TO vs. XGD.TO - Dividend Comparison

ENB.TO's dividend yield for the trailing twelve months is around 4.84%, more than XGD.TO's 0.64% yield.

PositionTTM20252024202320222021202020192018201720162015
ENB.TO
Enbridge Inc.		4.84%5.74%6.00%7.44%6.50%6.76%7.96%5.72%6.33%4.91%3.75%4.04%
XGD.TO
iShares S&P/TSX Global Gold Index ETF		0.64%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

ENB.TO and XGD.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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