GLDA.DE vs. ZJG.TO

Last updated Jun 5, 2026

GLDA.DE (Amundi Physical Gold ETC (C)) and ZJG.TO (BMO Junior Gold Index ETF) are both Precious Metals funds - GLDA.DE tracks the Gold while ZJG.TO tracks the Dow Jones North America Select Junior Gold Index. Both are passively managed. Over the past 5 years, GLDA.DE returned 19.71%/yr vs 25.03%/yr for ZJG.TO. A 0.55 correlation means they provide meaningful diversification when combined. GLDA.DE charges 0.12%/yr vs 0.61%/yr for ZJG.TO.

Performance

GLDA.DE vs. ZJG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi Physical Gold ETC (C) (GLDA.DE) and BMO Junior Gold Index ETF (ZJG.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GLDA.DE is traded in EUR, while ZJG.TO is traded in CAD. To make them comparable, the ZJG.TO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, GLDA.DE achieves a 2.73% return, which is significantly lower than ZJG.TO's 3.05% return.

GLDA.DE

• 1D: 0.57%
• 1M: -1.60%
• YTD: 2.73%
• 6M: 6.36%
• 1Y: 30.16%
• 3Y*: 28.03%
• 5Y*: 19.71%
• 10Y*: —

ZJG.TO

• 1D: 1.42%
• 1M: 0.99%
• YTD: 3.05%
• 6M: 10.43%
• 1Y: 67.28%
• 3Y*: 45.75%
• 5Y*: 25.03%
• 10Y*: 14.81%

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

GLDA.DE vs. ZJG.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GLDA.DE Amundi Physical Gold ETC (C)	2.73%	48.99%	34.24%	9.40%	7.00%	3.88%	12.92%	8.39%
ZJG.TO BMO Junior Gold Index ETF	3.05%	135.19%	33.95%	5.27%	-1.79%	-9.83%	16.43%	21.49%

Correlation

The correlation between GLDA.DE and ZJG.TO is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jul 10, 2019	0.55

The correlation between GLDA.DE and ZJG.TO has been stable across timeframes, ranging from 0.55 to 0.61 - a consistent structural relationship.

Return for Risk

GLDA.DE vs. ZJG.TO — Risk / Return Rank

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

GLDA.DE

GLDA.DE Risk / Return Rank: 36
GLDA.DE Sharpe Ratio Rank: 37
GLDA.DE Sortino Ratio Rank: 34
GLDA.DE Omega Ratio Rank: 41
GLDA.DE Calmar Ratio Rank: 37
GLDA.DE Martin Ratio Rank: 31

ZJG.TO

ZJG.TO Risk / Return Rank: 43
ZJG.TO Sharpe Ratio Rank: 46
ZJG.TO Sortino Ratio Rank: 39
ZJG.TO Omega Ratio Rank: 45
ZJG.TO Calmar Ratio Rank: 47
ZJG.TO Martin Ratio Rank: 37

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.

GLDA.DE vs. ZJG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Physical Gold ETC (C) (GLDA.DE) and BMO Junior Gold Index ETF (ZJG.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.

	GLDA.DE	ZJG.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.48	-0.18
Sortino ratio: Return per unit of downside risk	1.75	1.87	-0.12
Omega ratio: Gain probability vs. loss probability	1.26	1.27	-0.01
Calmar ratio: Return relative to maximum drawdown	1.82	2.14	-0.33
Martin ratio: Return relative to average drawdown	4.60	5.20	-0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLDA.DE vs. ZJG.TO - Sharpe Ratio Comparison

The current GLDA.DE Sharpe Ratio is 1.30, which is comparable to the ZJG.TO Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of GLDA.DE and ZJG.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.

Sharpe Ratios by Period

	GLDA.DE	ZJG.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.48	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.21	0.69	+0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.16	+0.94

Drawdowns

GLDA.DE vs. ZJG.TO - Drawdown Comparison

The maximum GLDA.DE drawdown since its inception was -18.34%, smaller than the maximum ZJG.TO drawdown of -84.43%. Use the drawdown chart below to compare losses from any high point for GLDA.DE and ZJG.TO.

Drawdown Indicators

	GLDA.DE	ZJG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.34%	-84.43%	+66.09%
Max Drawdown (1Y) Largest decline over 1 year	-16.53%	-31.53%	+15.00%
Max Drawdown (3Y) Largest decline over 3 years	-16.53%	-31.53%	+15.00%
Max Drawdown (5Y) Largest decline over 5 years	-16.53%	-39.12%	+22.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.33%	—
Current Drawdown Current decline from peak	-15.01%	-27.86%	+12.85%
Average Drawdown Average peak-to-trough decline	-5.75%	-51.94%	+46.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.54%	12.98%	-6.44%

Volatility

GLDA.DE vs. ZJG.TO - Volatility Comparison

The current volatility for Amundi Physical Gold ETC (C) (GLDA.DE) is 5.11%, while BMO Junior Gold Index ETF (ZJG.TO) has a volatility of 15.42%. This indicates that GLDA.DE experiences smaller price fluctuations and is considered to be less risky than ZJG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLDA.DE	ZJG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	15.42%	-10.31%
Volatility (6M) Calculated over the trailing 6-month period	20.17%	37.35%	-17.18%
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	45.67%	-22.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	36.34%	-20.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.85%	38.12%	-22.27%

GLDA.DE vs. ZJG.TO - Expense Ratio Comparison

GLDA.DE has a 0.12% expense ratio, which is lower than ZJG.TO's 0.61% expense ratio.

Dividends

GLDA.DE vs. ZJG.TO - Dividend Comparison

GLDA.DE has not paid dividends to shareholders, while ZJG.TO's dividend yield for the trailing twelve months is around 0.11%.

Position	TTM	2025	2024	2023	2022	2021
GLDA.DE Amundi Physical Gold ETC (C)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZJG.TO BMO Junior Gold Index ETF	0.11%	0.12%	0.68%	0.90%	0.83%	0.36%

Frequently Asked Questions

Can I hold both GLDA.DE and ZJG.TO in my portfolio?

GLDA.DE and ZJG.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLDA.DE or ZJG.TO?

On fees, GLDA.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDA.DE or ZJG.TO?

GLDA.DE is cheaper with a 0.12% expense ratio, compared with 0.61% for ZJG.TO.

What is the main difference between GLDA.DE and ZJG.TO?

GLDA.DE tracks Gold, while ZJG.TO tracks Dow Jones North America Select Junior Gold Index. They also come from different issuers: Amundi and BMO. Their fees differ too: 0.12% for GLDA.DE and 0.61% for ZJG.TO.