GCVG.L vs. BANK.TO
Compare and contrast key facts about SPDR Refinitiv Global Convertible Bond GBP Hedged UCITS ETF (GCVG.L) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO).
GCVG.L and BANK.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GCVG.L is a passively managed fund by State Street that tracks the performance of the Refinitiv Qualified Global Convertible (GBP Hedged). It was launched on Jan 31, 2022. BANK.TO is a passively managed fund by Evolve that tracks the performance of the Solactive Canadian Core Financials Equal Weight Index. It was launched on Feb 1, 2022. Both GCVG.L and BANK.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GCVG.L vs. BANK.TO - Performance Comparison
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GCVG.L vs. BANK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GCVG.L SPDR Refinitiv Global Convertible Bond GBP Hedged UCITS ETF | 5.31% | 22.98% | 9.45% | 13.81% | -14.46% |
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund | 1.42% | 37.23% | 19.86% | 12.94% | -16.56% |
Different Trading Currencies
GCVG.L is traded in GBP, while BANK.TO is traded in CAD. To make them comparable, the BANK.TO values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GCVG.L achieves a 5.31% return, which is significantly higher than BANK.TO's 1.42% return.
GCVG.L
- 1D
- 3.31%
- 1M
- -2.70%
- YTD
- 5.31%
- 6M
- 9.45%
- 1Y
- 26.68%
- 3Y*
- 15.43%
- 5Y*
- —
- 10Y*
- —
BANK.TO
- 1D
- 1.11%
- 1M
- -2.62%
- YTD
- 1.42%
- 6M
- 18.16%
- 1Y
- 41.29%
- 3Y*
- 22.39%
- 5Y*
- —
- 10Y*
- —
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GCVG.L vs. BANK.TO - Expense Ratio Comparison
GCVG.L has a 0.55% expense ratio, which is lower than BANK.TO's 0.60% expense ratio.
Return for Risk
GCVG.L vs. BANK.TO — Risk / Return Rank
GCVG.L
BANK.TO
GCVG.L vs. BANK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Refinitiv Global Convertible Bond GBP Hedged UCITS ETF (GCVG.L) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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.
| GCVG.L | BANK.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.40 | 2.93 | -0.54 |
Sortino ratioReturn per unit of downside risk | 3.33 | 3.70 | -0.37 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.56 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 4.12 | 4.86 | -0.74 |
Martin ratioReturn relative to average drawdown | 18.05 | 18.97 | -0.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GCVG.L | BANK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 2.93 | -0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.69 | +0.13 |
Correlation
The correlation between GCVG.L and BANK.TO is 0.32, 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.
Dividends
GCVG.L vs. BANK.TO - Dividend Comparison
GCVG.L's dividend yield for the trailing twelve months is around 0.58%, less than BANK.TO's 14.44% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GCVG.L SPDR Refinitiv Global Convertible Bond GBP Hedged UCITS ETF | 0.58% | 0.59% | 0.41% | 0.28% | 0.00% |
BANK.TO Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund | 14.44% | 13.73% | 15.28% | 13.60% | 10.52% |
Drawdowns
GCVG.L vs. BANK.TO - Drawdown Comparison
The maximum GCVG.L drawdown since its inception was -17.60%, smaller than the maximum BANK.TO drawdown of -24.07%. Use the drawdown chart below to compare losses from any high point for GCVG.L and BANK.TO.
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Drawdown Indicators
| GCVG.L | BANK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.60% | -29.03% | +11.43% |
Max Drawdown (1Y)Largest decline over 1 year | -6.51% | -10.61% | +4.10% |
Current DrawdownCurrent decline from peak | -3.22% | -3.64% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -9.15% | +3.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.49% | 2.59% | -1.10% |
Volatility
GCVG.L vs. BANK.TO - Volatility Comparison
The current volatility for SPDR Refinitiv Global Convertible Bond GBP Hedged UCITS ETF (GCVG.L) is 5.25%, while Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) has a volatility of 6.46%. This indicates that GCVG.L experiences smaller price fluctuations and is considered to be less risky than BANK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GCVG.L | BANK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.25% | 6.46% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 9.28% | 9.97% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.09% | 14.18% | -3.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.77% | 16.70% | -6.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.77% | 16.70% | -6.93% |