GBUL.TO vs. CGL.TO

Last updated Jun 6, 2026

GBUL.TO (Ninepoint Gold Bullion Fund Series ETF) and CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) are both Gold funds - GBUL.TO tracks the LBMA Gold Price while CGL.TO tracks the Gold Bullion. Both are passively managed. GBUL.TO charges 0.50%/yr vs 0.55%/yr for CGL.TO.

Performance

GBUL.TO vs. CGL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Ninepoint Gold Bullion Fund Series ETF (GBUL.TO) and iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GBUL.TO

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CGL.TO

• 1D: -3.54%
• 1M: -8.26%
• YTD: -0.66%
• 6M: 1.60%
• 1Y: 25.73%
• 3Y*: 27.80%
• 5Y*: 16.18%
• 10Y*: 11.62%

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

Return for Risk

GBUL.TO vs. CGL.TO — Risk / Return Rank

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

CGL.TO

CGL.TO Risk / Return Rank: 28
CGL.TO Sharpe Ratio Rank: 28
CGL.TO Sortino Ratio Rank: 26
CGL.TO Omega Ratio Rank: 31
CGL.TO Calmar Ratio Rank: 28
CGL.TO Martin Ratio Rank: 25

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.

GBUL.TO vs. CGL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ninepoint Gold Bullion Fund Series ETF (GBUL.TO) and iShares Gold Bullion ETF (CAD-Hedged) (CGL.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GBUL.TO	CGL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.95	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.88	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.40	—

Drawdowns

Drawdown Indicators

	GBUL.TO	CGL.TO	Difference
Max Drawdown Largest peak-to-trough decline	—	-45.96%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-20.47%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.47%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-23.72%	—
Current Drawdown Current decline from peak	—	-20.47%	—
Average Drawdown Average peak-to-trough decline	—	-20.30%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.06%	—

Volatility

Volatility by Period

	GBUL.TO	CGL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	27.12%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.39%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.45%	—

GBUL.TO vs. CGL.TO - Expense Ratio Comparison

GBUL.TO has a 0.50% expense ratio, which is lower than CGL.TO's 0.55% expense ratio.

Dividends

GBUL.TO vs. CGL.TO - Dividend Comparison

Neither GBUL.TO nor CGL.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Which ETF is better, GBUL.TO or CGL.TO?

On fees, GBUL.TO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GBUL.TO or CGL.TO?

GBUL.TO is cheaper with a 0.50% expense ratio, compared with 0.55% for CGL.TO.

What is the main difference between GBUL.TO and CGL.TO?

GBUL.TO tracks LBMA Gold Price, while CGL.TO tracks Gold Bullion. They also come from different issuers: Ninepoint and iShares. Their fees differ too: 0.50% for GBUL.TO and 0.55% for CGL.TO.