GLDX.TO vs. CGXF.TO
GLDX.TO (Global X Gold Producers Index ETF) and CGXF.TO (CI Gold+ Giants Covered Call ETF Common) are both Gold funds. GLDX.TO is passively managed, while CGXF.TO is actively managed. Over the past year, GLDX.TO returned 58.70% vs 34.27% for CGXF.TO. Their correlation of 0.94 suggests significant overlap in exposure.
Performance
GLDX.TO vs. CGXF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, GLDX.TO achieves a -7.62% return, which is significantly higher than CGXF.TO's -8.39% return.
GLDX.TO
- 1D
- -3.64%
- 1M
- -6.73%
- YTD
- -7.62%
- 6M
- -12.30%
- 1Y
- 58.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CGXF.TO
- 1D
- -3.83%
- 1M
- -6.08%
- YTD
- -8.39%
- 6M
- -12.21%
- 1Y
- 34.27%
- 3Y*
- 31.39%
- 5Y*
- 17.95%
- 10Y*
- 9.36%
GLDX.TO vs. CGXF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLDX.TO Global X Gold Producers Index ETF | -7.62% | 178.05% | -10.27% |
CGXF.TO CI Gold+ Giants Covered Call ETF Common | -8.39% | 114.18% | -9.82% |
Correlation
The correlation between GLDX.TO and CGXF.TO is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024 | 0.94 |
The correlation between GLDX.TO and CGXF.TO has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
GLDX.TO vs. CGXF.TO — Risk / Return Rank
GLDX.TO
CGXF.TO
GLDX.TO vs. CGXF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Gold Producers Index ETF (GLDX.TO) and CI Gold+ Giants Covered Call ETF Common (CGXF.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.
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 | CGXF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.17 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.02 | +0.65 |
| Martin ratioReturn relative to average drawdown | 4.38 | 2.74 | +1.64 |
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Drawdowns
GLDX.TO vs. CGXF.TO - Drawdown Comparison
The maximum GLDX.TO drawdown since its inception was -35.22%, smaller than the maximum CGXF.TO drawdown of -91.79%. Use the drawdown chart below to compare losses from any high point for GLDX.TO and CGXF.TO.
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Drawdown Indicators
| GLDX.TO | CGXF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.22% | -91.79% | +56.57% |
Max Drawdown (1Y)Largest decline over 1 year | -35.22% | -33.65% | -1.57% |
Max Drawdown (3Y)Largest decline over 3 years | — | -33.65% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.68% | — |
Current DrawdownCurrent decline from peak | -30.84% | -29.19% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -7.32% | -44.92% | +37.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.47% | 12.55% | +0.92% |
Volatility
GLDX.TO vs. CGXF.TO - Volatility Comparison
Global X Gold Producers Index ETF (GLDX.TO) and CI Gold+ Giants Covered Call ETF Common (CGXF.TO) have volatilities of 16.57% and 15.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDX.TO | CGXF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.57% | 15.81% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 38.70% | 34.84% | +3.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.28% | 42.24% | +6.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.49% | 31.44% | +13.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.49% | 30.64% | +13.85% |
Dividends
GLDX.TO vs. CGXF.TO - Dividend Comparison
GLDX.TO's dividend yield for the trailing twelve months is around 1.05%, less than CGXF.TO's 13.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGXF.TO CI Gold+ Giants Covered Call ETF Common | 13.46% | 7.43% | 8.09% | 8.93% | 8.54% | 8.59% | 11.00% | 6.69% | 7.97% | 6.99% | 10.68% | 4.82% |
GLDX.TO Global X Gold Producers Index ETF | 1.05% | 0.97% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, GLDX.TO and CGXF.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
They also come from different issuers: Global X and CI.
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