HGY.TO vs. ZJG.TO
HGY.TO (Global X Gold Yield ETF) and ZJG.TO (BMO Junior Gold Index ETF) are both Gold funds. HGY.TO is actively managed, while ZJG.TO is passively managed. Over the past 10 years, HGY.TO returned 6.35%/yr vs 13.76%/yr for ZJG.TO. A 0.58 correlation means they provide meaningful diversification when combined. HGY.TO charges 0.86%/yr vs 0.61%/yr for ZJG.TO.
Performance
HGY.TO vs. ZJG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HGY.TO achieves a -6.18% return, which is significantly lower than ZJG.TO's -5.10% return. Over the past 10 years, HGY.TO has underperformed ZJG.TO with an annualized return of 6.35%, while ZJG.TO has yielded a comparatively higher 13.76% 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%
ZJG.TO
- 1D
- -4.57%
- 1M
- -6.41%
- YTD
- -5.10%
- 6M
- -10.19%
- 1Y
- 58.88%
- 3Y*
- 51.52%
- 5Y*
- 27.58%
- 10Y*
- 13.76%
HGY.TO vs. ZJG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZJG.TO BMO Junior Gold Index ETF | -5.10% | 154.66% | 36.44% | 6.11% | -0.89% | -16.72% | 24.40% | 42.04% | -18.77% | 11.85% |
Correlation
The correlation between HGY.TO and ZJG.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 | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2012 | 0.58 |
Over the past year, HGY.TO and ZJG.TO have become more correlated (0.79) than their long-term average of 0.58, meaning their price movements have been converging.
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Return for Risk
HGY.TO vs. ZJG.TO — Risk / Return Rank
HGY.TO
ZJG.TO
HGY.TO vs. ZJG.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 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.
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.TO | ZJG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.23 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | 1.58 | -0.94 |
| Martin ratioReturn relative to average drawdown | 1.78 | 3.99 | -2.21 |
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Drawdowns
HGY.TO vs. ZJG.TO - Drawdown Comparison
The maximum HGY.TO drawdown since its inception was -48.61%, smaller than the maximum ZJG.TO drawdown of -81.59%. Use the drawdown chart below to compare losses from any high point for HGY.TO and ZJG.TO.
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Drawdown Indicators
| HGY.TO | ZJG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.61% | -81.59% | +32.98% |
Max Drawdown (1Y)Largest decline over 1 year | -22.37% | -37.55% | +15.18% |
Max Drawdown (3Y)Largest decline over 3 years | -22.37% | -37.55% | +15.18% |
Max Drawdown (5Y)Largest decline over 5 years | -22.37% | -41.63% | +19.26% |
Max Drawdown (10Y)Largest decline over 10 years | -25.23% | -48.58% | +23.35% |
Current DrawdownCurrent decline from peak | -21.67% | -33.02% | +11.35% |
Average DrawdownAverage peak-to-trough decline | -30.64% | -49.01% | +18.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.93% | 14.80% | -6.87% |
Volatility
HGY.TO vs. ZJG.TO - Volatility Comparison
The current volatility for Global X Gold Yield ETF (HGY.TO) is 9.48%, while BMO Junior Gold Index ETF (ZJG.TO) has a volatility of 17.64%. This indicates that HGY.TO 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.
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Volatility by Period
| HGY.TO | ZJG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 17.64% | -8.16% |
Volatility (6M)Calculated over the trailing 6-month period | 22.42% | 40.57% | -18.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.87% | 48.74% | -23.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.96% | 36.89% | -20.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.64% | 38.21% | -22.57% |
HGY.TO vs. ZJG.TO - Expense Ratio Comparison
HGY.TO has a 0.86% expense ratio, which is higher than ZJG.TO's 0.61% expense ratio.
Dividends
HGY.TO vs. ZJG.TO - Dividend Comparison
HGY.TO's dividend yield for the trailing twelve months is around 6.61%, more than ZJG.TO's 0.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZJG.TO BMO Junior Gold Index ETF | 0.12% | 0.12% | 0.68% | 0.90% | 0.83% | 0.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HGY.TO and ZJG.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.
On fees, ZJG.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZJG.TO is cheaper with a 0.61% expense ratio, compared with 0.86% for HGY.TO.
They also come from different issuers: Global X and BMO. Their fees differ too: 0.86% for HGY.TO and 0.61% for ZJG.TO.
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