GBUL.TO vs. HGY.TO

Last updated Jun 6, 2026

GBUL.TO (Ninepoint Gold Bullion Fund Series ETF) and HGY.TO (Global X Gold Yield ETF) are both Gold funds. GBUL.TO is passively managed, while HGY.TO is actively managed. GBUL.TO charges 0.50%/yr vs 0.86%/yr for HGY.TO.

Performance

GBUL.TO vs. HGY.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 Global X Gold Yield ETF (HGY.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*: —

HGY.TO

• 1D: -3.56%
• 1M: -7.85%
• YTD: -1.63%
• 6M: 0.45%
• 1Y: 20.29%
• 3Y*: 22.71%
• 5Y*: 12.25%
• 10Y*: 7.40%

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

Return for Risk

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

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

HGY.TO

HGY.TO Risk / Return Rank: 26
HGY.TO Sharpe Ratio Rank: 26
HGY.TO Sortino Ratio Rank: 24
HGY.TO Omega Ratio Rank: 29
HGY.TO Calmar Ratio Rank: 26
HGY.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. HGY.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 Global X Gold Yield ETF (HGY.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	HGY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.86	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.79	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.11	—

Drawdowns

Drawdown Indicators

	GBUL.TO	HGY.TO	Difference
Max Drawdown Largest peak-to-trough decline	—	-48.61%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-17.87%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-25.23%	—
Current Drawdown Current decline from peak	—	-17.87%	—
Average Drawdown Average peak-to-trough decline	—	-30.68%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.66%	—

Volatility

Volatility by Period

	GBUL.TO	HGY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	23.72%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	15.65%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.50%	—

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

GBUL.TO has a 0.50% expense ratio, which is lower than HGY.TO's 0.86% expense ratio.

Dividends

GBUL.TO vs. HGY.TO - Dividend Comparison

GBUL.TO has not paid dividends to shareholders, while HGY.TO's dividend yield for the trailing twelve months is around 6.30%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GBUL.TO Ninepoint Gold Bullion Fund Series ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HGY.TO Global X Gold Yield ETF	6.30%	4.92%	5.32%	6.10%	3.72%	2.93%	2.86%	2.09%	2.33%	2.31%	2.69%	3.07%

Frequently Asked Questions

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

GBUL.TO is cheaper with a 0.50% expense ratio, compared with 0.86% for HGY.TO.

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

They also come from different issuers: Ninepoint and Global X. Their fees differ too: 0.50% for GBUL.TO and 0.86% for HGY.TO.