MNT.TO vs. GOLD.TO
MNT.TO (Royal Canadian Mint - Canadian Gold Reserves) is Gold fund, while GOLD.TO (GoldMining Inc.) is a stock. Over the past 5 years, MNT.TO returned 21.45%/yr vs -7.29%/yr for GOLD.TO. At a 0.37 correlation, their price movements are largely independent.
Performance
MNT.TO vs. GOLD.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MNT.TO achieves a -6.93% return, which is significantly higher than GOLD.TO's -26.74% return.
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%
GOLD.TO
- 1D
- -3.82%
- 1M
- -17.65%
- YTD
- -26.74%
- 6M
- -32.98%
- 1Y
- 20.00%
- 3Y*
- 2.79%
- 5Y*
- -7.29%
- 10Y*
- —
MNT.TO vs. GOLD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MNT.TO Royal Canadian Mint - Canadian Gold Reserves | -6.93% | 61.23% | 44.81% | 3.61% | 10.52% | -10.51% | 26.14% | 13.47% | 5.80% |
GOLD.TO GoldMining Inc. | -26.74% | 49.57% | -11.54% | -15.58% | 0.65% | -44.77% | 108.27% | 70.51% | -22.00% |
Correlation
The correlation between MNT.TO and GOLD.TO is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2018 | 0.37 |
The correlation between MNT.TO and GOLD.TO shifts across timeframes, from 0.37 (5 years) to 0.57 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MNT.TO vs. GOLD.TO — Risk / Return Rank
MNT.TO
GOLD.TO
MNT.TO vs. GOLD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) and GoldMining Inc. (GOLD.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.
| MNT.TO | GOLD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.11 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 0.34 | +0.31 |
| Martin ratioReturn relative to average drawdown | 1.69 | 0.70 | +0.99 |
Loading charts...
Drawdowns
MNT.TO vs. GOLD.TO - Drawdown Comparison
The maximum MNT.TO drawdown since its inception was -34.79%, smaller than the maximum GOLD.TO drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for MNT.TO and GOLD.TO.
Loading charts...
Drawdown Indicators
| MNT.TO | GOLD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.79% | -74.14% | +39.35% |
Max Drawdown (1Y)Largest decline over 1 year | -28.55% | -58.56% | +30.01% |
Max Drawdown (3Y)Largest decline over 3 years | -28.55% | -58.56% | +30.01% |
Max Drawdown (5Y)Largest decline over 5 years | -28.55% | -60.32% | +31.77% |
Max Drawdown (10Y)Largest decline over 10 years | -33.58% | — | — |
Current DrawdownCurrent decline from peak | -25.83% | -66.75% | +40.92% |
Average DrawdownAverage peak-to-trough decline | -15.87% | -46.28% | +30.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.06% | 28.53% | -17.47% |
Volatility
MNT.TO vs. GOLD.TO - Volatility Comparison
The current volatility for Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) is 8.23%, while GoldMining Inc. (GOLD.TO) has a volatility of 21.74%. This indicates that MNT.TO experiences smaller price fluctuations and is considered to be less risky than GOLD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MNT.TO | GOLD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.23% | 21.74% | -13.51% |
Volatility (6M)Calculated over the trailing 6-month period | 26.05% | 51.24% | -25.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.85% | 66.51% | -35.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.47% | 51.91% | -31.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.60% | 55.06% | -35.46% |
Dividends
MNT.TO vs. GOLD.TO - Dividend Comparison
Neither MNT.TO nor GOLD.TO has paid dividends to shareholders.
Frequently Asked Questions
MNT.TO and GOLD.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for MNT.TO and GOLD.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer