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HGY.TO vs. MNT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HGY.TO vs. MNT.TO

Last updated Jun 24, 2026

HGY.TO (Global X Gold Yield ETF) and MNT.TO (Royal Canadian Mint - Canadian Gold Reserves) are both Gold funds. Over the past 10 years, HGY.TO returned 6.35%/yr vs 12.39%/yr for MNT.TO. A 0.62 correlation means they provide meaningful diversification when combined.

Performance

HGY.TO vs. MNT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Gold Yield ETF (HGY.TO) and Royal Canadian Mint - Canadian Gold Reserves (MNT.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HGY.TO achieves a -6.18% return, which is significantly higher than MNT.TO's -6.93% return. Over the past 10 years, HGY.TO has underperformed MNT.TO with an annualized return of 6.35%, while MNT.TO has yielded a comparatively higher 12.39% annualized return.

HGY.TO

1D
-1.77%
1M
-8.46%
YTD
-6.18%
6M
-9.09%
1Y
14.05%
3Y*
21.46%
5Y*
12.51%
10Y*
6.35%

MNT.TO

1D
-1.48%
1M
-6.99%
YTD
-6.93%
6M
-10.28%
1Y
18.65%
3Y*
31.47%
5Y*
21.45%
10Y*
12.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HGY.TO vs. MNT.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HGY.TO
Global X Gold Yield ETF		-6.18%48.66%21.36%9.51%-3.64%-7.21%15.27%11.16%-5.75%5.87%
MNT.TO
Royal Canadian Mint - Canadian Gold Reserves		-6.93%61.23%44.81%3.61%10.52%-10.51%26.14%13.47%5.87%5.52%

Correlation

The correlation between HGY.TO and MNT.TO is 0.79, 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

0.79

Correlation (3Y)
Calculated over the trailing 3-year period

0.72

Correlation (5Y)
Calculated over the trailing 5-year period

0.68

Correlation (10Y)
Calculated over the trailing 10-year period

0.60

Correlation (All Time)
Calculated using the full available price history since Feb 13, 2012

0.62

The correlation between HGY.TO and MNT.TO shifts across timeframes, from 0.60 (10 years) to 0.79 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Global X Gold Yield ETF

Royal Canadian Mint - Canadian Gold Reserves

Often compared with HGY.TO:
HGY.TO vs. XEG.TOHGY.TO vs. HUG.TOHGY.TO vs. GC=FHGY.TO vs. HGGG.TOHGY.TO vs. VALT.TOHGY.TO vs. AMAX.TOHGY.TO vs. ZGLD.TO
Often compared with MNT.TO:
MNT.TO vs. KILO.TOMNT.TO vs. CGL-C.TOMNT.TO vs. PHYS.TOMNT.TO vs. XGD.TOMNT.TO vs. CGL.TOMNT.TO vs. ZGLD.TOMNT.TO vs. GLDM

Return for Risk

HGY.TO vs. MNT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HGY.TO
HGY.TO Risk / Return Rank: 1818
Overall Rank
HGY.TO Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
HGY.TO Sortino Ratio Rank: 1717
Sortino Ratio Rank
HGY.TO Omega Ratio Rank: 1919
Omega Ratio Rank
HGY.TO Calmar Ratio Rank: 1616
Calmar Ratio Rank
HGY.TO Martin Ratio Rank: 1818
Martin Ratio Rank
MNT.TO
MNT.TO Risk / Return Rank: 1818
Overall Rank
MNT.TO Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
MNT.TO Sortino Ratio Rank: 1919
Sortino Ratio Rank
MNT.TO Omega Ratio Rank: 2121
Omega Ratio Rank
MNT.TO Calmar Ratio Rank: 1717
Calmar Ratio Rank
MNT.TO Martin Ratio Rank: 1717
Martin Ratio Rank
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.

HGY.TO vs. MNT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Yield ETF (HGY.TO) and Royal Canadian Mint - Canadian Gold Reserves (MNT.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.

HGY.TOMNT.TODifference
Sharpe ratioReturn per unit of total volatility
0.57
0.61

-0.04

Sortino ratioReturn per unit of downside risk
0.88
1.01

-0.12

Omega ratioGain probability vs. loss probability

1.13

1.14

-0.01

Calmar ratioReturn relative to maximum drawdown

0.63

0.66

-0.03

Martin ratioReturn relative to average drawdown

1.78

1.69

+0.09

HGY.TO vs. MNT.TO - Sharpe Ratio Comparison

The current HGY.TO Sharpe Ratio is 0.57, which is comparable to the MNT.TO Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of HGY.TO and MNT.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.

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Drawdowns

HGY.TO vs. MNT.TO - Drawdown Comparison

The maximum HGY.TO drawdown since its inception was -48.61%, which is greater than MNT.TO's maximum drawdown of -34.79%. Use the drawdown chart below to compare losses from any high point for HGY.TO and MNT.TO.

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Drawdown Indicators

HGY.TOMNT.TODifference

Max Drawdown

Largest peak-to-trough decline

-48.61%

-34.79%

-13.82%

Max Drawdown (1Y)

Largest decline over 1 year

-22.37%

-28.55%

+6.18%

Max Drawdown (3Y)

Largest decline over 3 years

-22.37%

-28.55%

+6.18%

Max Drawdown (5Y)

Largest decline over 5 years

-22.37%

-28.55%

+6.18%

Max Drawdown (10Y)

Largest decline over 10 years

-25.23%

-33.58%

+8.35%

Current Drawdown

Current decline from peak

-21.67%

-25.83%

+4.16%

Average Drawdown

Average peak-to-trough decline

-30.64%

-15.87%

-14.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.93%

11.06%

-3.13%

Volatility

HGY.TO vs. MNT.TO - Volatility Comparison

Global X Gold Yield ETF (HGY.TO) has a higher volatility of 9.48% compared to Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) at 8.23%. This indicates that HGY.TO's price experiences larger fluctuations and is considered to be riskier than MNT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HGY.TOMNT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.48%

8.23%

+1.25%

Volatility (6M)

Calculated over the trailing 6-month period

22.42%

26.05%

-3.63%

Volatility (1Y)

Calculated over the trailing 1-year period

24.87%

30.85%

-5.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.96%

20.47%

-4.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.64%

19.60%

-3.96%

Dividends

HGY.TO vs. MNT.TO - Dividend Comparison

HGY.TO's dividend yield for the trailing twelve months is around 6.61%, while MNT.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
HGY.TO
Global X Gold Yield ETF		6.61%4.92%5.32%6.10%3.72%2.93%2.86%2.09%2.33%2.31%2.69%3.07%
MNT.TO
Royal Canadian Mint - Canadian Gold Reserves		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HGY.TO and MNT.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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