MNT.TO vs. HGGG.TO
MNT.TO (Royal Canadian Mint - Canadian Gold Reserves) and HGGG.TO (Harvest Global Gold Giants Index ETF) are both Gold funds. Over the past 5 years, MNT.TO returned 21.45%/yr vs 24.99%/yr for HGGG.TO. At a 0.41 correlation, their price movements are largely independent.
Performance
MNT.TO vs. HGGG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MNT.TO achieves a -6.93% return, which is significantly higher than HGGG.TO's -7.80% 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%
HGGG.TO
- 1D
- -3.72%
- 1M
- -4.70%
- YTD
- -7.80%
- 6M
- -11.38%
- 1Y
- 62.40%
- 3Y*
- 48.40%
- 5Y*
- 24.99%
- 10Y*
- —
MNT.TO vs. HGGG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MNT.TO Royal Canadian Mint - Canadian Gold Reserves | -6.93% | 61.23% | 44.81% | 3.61% | 10.52% | -10.51% | 26.14% | 16.51% |
HGGG.TO Harvest Global Gold Giants Index ETF | -7.80% | 170.60% | 26.04% | 4.17% | -4.68% | -15.67% | 31.47% | 24.47% |
Correlation
The correlation between MNT.TO and HGGG.TO is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.41 |
Over the past year, MNT.TO and HGGG.TO have become more correlated (0.65) than their long-term average of 0.41, meaning their price movements have been converging.
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Return for Risk
MNT.TO vs. HGGG.TO — Risk / Return Rank
MNT.TO
HGGG.TO
MNT.TO vs. HGGG.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 Harvest Global Gold Giants Index ETF (HGGG.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 | HGGG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.25 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 1.73 | -1.07 |
| Martin ratioReturn relative to average drawdown | 1.69 | 4.52 | -2.83 |
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Drawdowns
MNT.TO vs. HGGG.TO - Drawdown Comparison
The maximum MNT.TO drawdown since its inception was -34.79%, smaller than the maximum HGGG.TO drawdown of -52.29%. Use the drawdown chart below to compare losses from any high point for MNT.TO and HGGG.TO.
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Drawdown Indicators
| MNT.TO | HGGG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.79% | -52.29% | +17.50% |
Max Drawdown (1Y)Largest decline over 1 year | -28.55% | -36.32% | +7.77% |
Max Drawdown (3Y)Largest decline over 3 years | -28.55% | -36.32% | +7.77% |
Max Drawdown (5Y)Largest decline over 5 years | -28.55% | -39.14% | +10.59% |
Max Drawdown (10Y)Largest decline over 10 years | -33.58% | — | — |
Current DrawdownCurrent decline from peak | -25.83% | -30.86% | +5.03% |
Average DrawdownAverage peak-to-trough decline | -15.87% | -20.53% | +4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.06% | 13.85% | -2.79% |
Volatility
MNT.TO vs. HGGG.TO - Volatility Comparison
The current volatility for Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) is 8.23%, while Harvest Global Gold Giants Index ETF (HGGG.TO) has a volatility of 16.65%. This indicates that MNT.TO experiences smaller price fluctuations and is considered to be less risky than HGGG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNT.TO | HGGG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.23% | 16.65% | -8.42% |
Volatility (6M)Calculated over the trailing 6-month period | 26.05% | 37.56% | -11.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.85% | 45.86% | -15.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.47% | 33.45% | -12.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.60% | 33.23% | -13.63% |
Dividends
MNT.TO vs. HGGG.TO - Dividend Comparison
Neither MNT.TO nor HGGG.TO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HGGG.TO Harvest Global Gold Giants Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.65% | 0.54% |
MNT.TO Royal Canadian Mint - Canadian Gold Reserves | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MNT.TO and HGGG.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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