MNT.TO vs. ZGLH.TO

Last updated Jun 24, 2026

MNT.TO (Royal Canadian Mint - Canadian Gold Reserves) and ZGLH.TO (BMO Gold Bullion Hedged to CAD ETF) are both Gold funds. Their correlation of 0.84 suggests significant overlap in exposure.

Performance

MNT.TO vs. ZGLH.TO - Performance Comparison

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

Returns By Period

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%

ZGLH.TO

• 1D: -2.02%
• 1M: -8.92%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

	2026 (YTD)
MNT.TO Royal Canadian Mint - Canadian Gold Reserves	-17.34%
ZGLH.TO BMO Gold Bullion Hedged to CAD ETF	-14.58%

Correlation

The correlation between MNT.TO and ZGLH.TO is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 20, 2026	0.84

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MNT.TO

MNT.TO Risk / Return Rank: 18
MNT.TO Sharpe Ratio Rank: 19
MNT.TO Sortino Ratio Rank: 19
MNT.TO Omega Ratio Rank: 21
MNT.TO Calmar Ratio Rank: 17
MNT.TO Martin Ratio Rank: 17

ZGLH.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MNT.TO vs. ZGLH.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 BMO Gold Bullion Hedged to CAD ETF (ZGLH.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	ZGLH.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.61	—	—
Sortino ratio: Return per unit of downside risk	1.01	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	0.66	—	—
Martin ratio: Return relative to average drawdown	1.69	—	—

Drawdowns

MNT.TO vs. ZGLH.TO - Drawdown Comparison

The maximum MNT.TO drawdown since its inception was -34.79%, which is greater than ZGLH.TO's maximum drawdown of -25.00%. Use the drawdown chart below to compare losses from any high point for MNT.TO and ZGLH.TO.

Drawdown Indicators

	MNT.TO	ZGLH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-34.79%	-25.00%	-9.79%
Max Drawdown (1Y) Largest decline over 1 year	-28.55%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.58%	—	—
Current Drawdown Current decline from peak	-25.83%	-24.39%	-1.44%
Average Drawdown Average peak-to-trough decline	-15.87%	-12.13%	-3.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.06%	—	—

Volatility

Volatility by Period

	MNT.TO	ZGLH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	26.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	30.85%	34.89%	-4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.47%	34.89%	-14.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.60%	34.89%	-15.29%

Dividends

MNT.TO vs. ZGLH.TO - Dividend Comparison

Neither MNT.TO nor ZGLH.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MNT.TO and ZGLH.TO in my portfolio?

MNT.TO and ZGLH.TO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.