GLDX.TO vs. 8PSG.DE
GLDX.TO (Global X Gold Producers Index ETF) and 8PSG.DE (Invesco Physical Gold ETC) are both Gold funds - GLDX.TO tracks the Mirae Asset North American Listed Gold Producers Index while 8PSG.DE tracks the LBMA Gold Price PM. Both are passively managed. Over the past year, GLDX.TO returned 58.70% vs 26.81% for 8PSG.DE. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
GLDX.TO vs. 8PSG.DE - Performance Comparison
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Different Trading Currencies
GLDX.TO is traded in CAD, while 8PSG.DE is traded in EUR. To make them comparable, the 8PSG.DE values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLDX.TO achieves a -7.62% return, which is significantly lower than 8PSG.DE's -1.62% return.
GLDX.TO
- 1D
- -3.64%
- 1M
- -6.73%
- YTD
- -7.62%
- 6M
- -12.30%
- 1Y
- 58.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
8PSG.DE
- 1D
- 0.00%
- 1M
- -4.84%
- YTD
- -1.62%
- 6M
- -3.61%
- 1Y
- 26.81%
- 3Y*
- 33.56%
- 5Y*
- 21.89%
- 10Y*
- 13.20%
GLDX.TO vs. 8PSG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLDX.TO Global X Gold Producers Index ETF | -7.62% | 178.05% | -10.27% |
8PSG.DE Invesco Physical Gold ETC | -1.62% | 59.82% | 0.01% |
Correlation
The correlation between GLDX.TO and 8PSG.DE is 0.66, 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 | 0.66 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024 | 0.65 |
The correlation between GLDX.TO and 8PSG.DE has been stable across timeframes, ranging from 0.65 to 0.66 - a consistent structural relationship.
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Return for Risk
GLDX.TO vs. 8PSG.DE — Risk / Return Rank
GLDX.TO
8PSG.DE
GLDX.TO vs. 8PSG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Gold Producers Index ETF (GLDX.TO) and Invesco Physical Gold ETC (8PSG.DE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GLDX.TO | 8PSG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.28 | +0.39 |
| Martin ratioReturn relative to average drawdown | 4.38 | 2.90 | +1.47 |
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Drawdowns
GLDX.TO vs. 8PSG.DE - Drawdown Comparison
The maximum GLDX.TO drawdown since its inception was -35.22%, smaller than the maximum 8PSG.DE drawdown of -53.96%. Use the drawdown chart below to compare losses from any high point for GLDX.TO and 8PSG.DE.
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Drawdown Indicators
| GLDX.TO | 8PSG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.22% | -53.96% | +18.74% |
Max Drawdown (1Y)Largest decline over 1 year | -35.22% | -20.93% | -14.29% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.93% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.53% | — |
Current DrawdownCurrent decline from peak | -30.84% | -18.08% | -12.76% |
Average DrawdownAverage peak-to-trough decline | -7.32% | -23.79% | +16.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.47% | 9.24% | +4.23% |
Volatility
GLDX.TO vs. 8PSG.DE - Volatility Comparison
Global X Gold Producers Index ETF (GLDX.TO) has a higher volatility of 16.57% compared to Invesco Physical Gold ETC (8PSG.DE) at 7.97%. This indicates that GLDX.TO's price experiences larger fluctuations and is considered to be riskier than 8PSG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDX.TO | 8PSG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.57% | 7.97% | +8.60% |
Volatility (6M)Calculated over the trailing 6-month period | 38.70% | 21.91% | +16.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.28% | 33.76% | +14.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.49% | 20.26% | +24.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.49% | 23.36% | +21.13% |
Dividends
GLDX.TO vs. 8PSG.DE - Dividend Comparison
GLDX.TO's dividend yield for the trailing twelve months is around 1.05%, while 8PSG.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
8PSG.DE Invesco Physical Gold ETC | 0.00% | 0.00% | 0.00% |
GLDX.TO Global X Gold Producers Index ETF | 1.05% | 0.97% | 0.08% |
Frequently Asked Questions
GLDX.TO and 8PSG.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDX.TO tracks Mirae Asset North American Listed Gold Producers Index, while 8PSG.DE tracks LBMA Gold Price PM. They also come from different issuers: Global X and Invesco.
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