GBUL.TO vs. ZGLD.TO

Last updated Jun 6, 2026

GBUL.TO (Ninepoint Gold Bullion Fund Series ETF) and ZGLD.TO (BMO Gold Bullion ETF (CAD Units)) are both Gold funds - GBUL.TO tracks the LBMA Gold Price while ZGLD.TO tracks the Gold Bullion. Both are passively managed. GBUL.TO charges 0.50%/yr vs 0.23%/yr for ZGLD.TO.

Performance

GBUL.TO vs. ZGLD.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 BMO Gold Bullion ETF (CAD Units) (ZGLD.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GBUL.TO

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• 6M: —
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• 3Y*: —
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• 10Y*: —

ZGLD.TO

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
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*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

GBUL.TO vs. ZGLD.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 BMO Gold Bullion ETF (CAD Units) (ZGLD.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.

Drawdowns

Volatility

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

GBUL.TO has a 0.50% expense ratio, which is higher than ZGLD.TO's 0.23% expense ratio.

Dividends

GBUL.TO vs. ZGLD.TO - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

On fees, ZGLD.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

ZGLD.TO is cheaper with a 0.23% expense ratio, compared with 0.50% for GBUL.TO.

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

GBUL.TO tracks LBMA Gold Price, while ZGLD.TO tracks Gold Bullion. They also come from different issuers: Ninepoint and BMO. Their fees differ too: 0.50% for GBUL.TO and 0.23% for ZGLD.TO.