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

HGY.TO vs. ZGD.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Gold Yield ETF (HGY.TO) and BMO Equal Weight Global Gold Index ETF (ZGD.TO).

HGY.TO and ZGD.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HGY.TO is an actively managed fund by Global X. It was launched on Dec 14, 2010. ZGD.TO is a passively managed fund by BMO that tracks the performance of the Solactive Equal Weight Global Gold Index. It was launched on Nov 14, 2012.

Performance

HGY.TO vs. ZGD.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 BMO Equal Weight Global Gold Index ETF (ZGD.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020201920182017
HGY.TO
Global X Gold Yield ETF		2.11%48.66%21.36%9.51%-1.07%-4.51%18.67%13.62%-3.58%8.33%
ZGD.TO
BMO Equal Weight Global Gold Index ETF		11.73%170.64%37.48%10.17%-2.30%-12.57%26.59%53.72%-12.09%-0.73%

Returns By Period

In the year-to-date period, HGY.TO achieves a 2.11% return, which is significantly lower than ZGD.TO's 11.73% return. Over the past 10 years, HGY.TO has underperformed ZGD.TO with an annualized return of 9.83%, while ZGD.TO has yielded a comparatively higher 21.57% annualized return.

HGY.TO

1D
0.00%
1M
-13.74%
YTD
2.11%
6M
11.36%
1Y
32.43%
3Y*
24.33%
5Y*
15.60%
10Y*
9.83%

ZGD.TO

1D
7.87%
1M
-18.70%
YTD
11.73%
6M
31.71%
1Y
123.98%
3Y*
57.32%
5Y*
35.00%
10Y*
21.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Gold Yield ETF

BMO Equal Weight Global Gold Index ETF

Often compared with HGY.TO:
HGY.TO vs. GC=FHGY.TO vs. VALT.TOHGY.TO vs. VDY.TOHGY.TO vs. XEG.TOHGY.TO vs. XGD.TOHGY.TO vs. HGGG.TOHGY.TO vs. AMAX.TO
Often compared with ZGD.TO:
ZGD.TO vs. XGD.TOZGD.TO vs. GLDZGD.TO vs. AMAX.TOZGD.TO vs. GDXUZGD.TO vs. SGDMZGD.TO vs. ZEB.TOZGD.TO vs. RGPM.NEO

HGY.TO vs. ZGD.TO - Expense Ratio Comparison

HGY.TO has a 0.86% expense ratio, which is higher than ZGD.TO's 0.60% expense ratio.

HGY.TO
Global X Gold Yield ETF
ZGD.TO
BMO Equal Weight Global Gold Index ETF

Return for Risk

HGY.TO vs. ZGD.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: 7373
Overall Rank
HGY.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
HGY.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
HGY.TO Omega Ratio Rank: 7171
Omega Ratio Rank
HGY.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
HGY.TO Martin Ratio Rank: 7474
Martin Ratio Rank
ZGD.TO
ZGD.TO Risk / Return Rank: 9595
Overall Rank
ZGD.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
ZGD.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
ZGD.TO Omega Ratio Rank: 9494
Omega Ratio Rank
ZGD.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
ZGD.TO Martin Ratio Rank: 9595
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. ZGD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Gold Yield ETF (HGY.TO) and BMO Equal Weight Global Gold Index ETF (ZGD.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.

HGY.TOZGD.TODifference

Sharpe ratio

Return per unit of total volatility

1.38

2.75

-1.37

Sortino ratio

Return per unit of downside risk

1.82

2.86

-1.04

Omega ratio

Gain probability vs. loss probability

1.27

1.43

-0.17

Calmar ratio

Return relative to maximum drawdown

1.93

4.17

-2.23

Martin ratio

Return relative to average drawdown

7.93

15.14

-7.21

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current HGY.TO Sharpe Ratio is 1.38, which is lower than the ZGD.TO Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of HGY.TO and ZGD.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

HGY.TOZGD.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.38

2.75

-1.37

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

0.98

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

0.58

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

—

0.30

—

Correlation

The correlation between HGY.TO and ZGD.TO is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HGY.TO vs. ZGD.TO - Dividend Comparison

HGY.TO's dividend yield for the trailing twelve months is around 5.53%, more than ZGD.TO's 0.20% yield.

TTM20252024202320222021202020192018201720162015
HGY.TO
Global X Gold Yield ETF		5.53%4.92%5.32%6.10%6.42%5.87%5.72%4.19%4.66%4.63%5.37%6.13%
ZGD.TO
BMO Equal Weight Global Gold Index ETF		0.20%0.22%0.59%0.76%0.77%0.38%0.16%1.20%0.00%0.00%0.32%0.46%

Drawdowns

HGY.TO vs. ZGD.TO - Drawdown Comparison

The maximum HGY.TO drawdown since its inception was -188,898.12%, which is greater than ZGD.TO's maximum drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for HGY.TO and ZGD.TO.

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Drawdown Indicators

HGY.TOZGD.TODifference

Max Drawdown

Largest peak-to-trough decline

-188,898.12%

-60.12%

-188,838.00%

Max Drawdown (1Y)

Largest decline over 1 year

-17.47%

-30.15%

+12.68%

Max Drawdown (5Y)

Largest decline over 5 years

-18.32%

-42.75%

+24.43%

Max Drawdown (10Y)

Largest decline over 10 years

-20.31%

-51.72%

+31.41%

Current Drawdown

Current decline from peak

-161,050.90%

-18.77%

-161,032.13%

Average Drawdown

Average peak-to-trough decline

-74,810.45%

-28.47%

-74,781.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.26%

8.30%

-4.04%

Volatility

HGY.TO vs. ZGD.TO - Volatility Comparison

The current volatility for Global X Gold Yield ETF (HGY.TO) is 9.78%, while BMO Equal Weight Global Gold Index ETF (ZGD.TO) has a volatility of 18.29%. This indicates that HGY.TO experiences smaller price fluctuations and is considered to be less risky than ZGD.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.TOZGD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.78%

18.29%

-8.51%

Volatility (6M)

Calculated over the trailing 6-month period

20.33%

37.55%

-17.22%

Volatility (1Y)

Calculated over the trailing 1-year period

23.57%

45.29%

-21.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.30%

35.83%

-20.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.27%

37.54%

-22.27%