NGD vs. XGD.TO

Last updated Jun 13, 2026

NGD (New Gold Inc.) is a stock, while XGD.TO (iShares S&P/TSX Global Gold Index ETF) is Precious Metals fund tracking the S&P/TSX Global Gold Index. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

NGD vs. XGD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in New Gold Inc. (NGD) and iShares S&P/TSX Global Gold Index ETF (XGD.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NGD is traded in USD, while XGD.TO is traded in CAD. To make them comparable, the XGD.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

NGD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XGD.TO

• 1D: 2.69%
• 1M: -16.52%
• YTD: -4.25%
• 6M: -3.04%
• 1Y: 55.75%
• 3Y*: 39.72%
• 5Y*: 17.61%
• 10Y*: 13.23%

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

NGD vs. XGD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NGD New Gold Inc.	4.25%	251.21%	69.86%	48.98%	-34.67%	-31.51%	148.86%	16.28%	-77.00%	-6.00%
XGD.TO iShares S&P/TSX Global Gold Index ETF	-4.25%	156.14%	10.29%	6.44%	-8.90%	-5.76%	24.05%	46.20%	-11.54%	8.29%

Correlation

The correlation between NGD and XGD.TO is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006	0.65

The correlation between NGD and XGD.TO has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.

Return for Risk

NGD vs. XGD.TO — Risk / Return Rank

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

NGD

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

XGD.TO

XGD.TO Risk / Return Rank: 40
XGD.TO Sharpe Ratio Rank: 43
XGD.TO Sortino Ratio Rank: 38
XGD.TO Omega Ratio Rank: 43
XGD.TO Calmar Ratio Rank: 41
XGD.TO Martin Ratio Rank: 36

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.

NGD vs. XGD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for New Gold Inc. (NGD) and iShares S&P/TSX Global Gold Index ETF (XGD.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.

	NGD	XGD.TO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.26	—
Sortino ratio: Return per unit of downside risk	—	1.67	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	1.63	—
Martin ratio: Return relative to average drawdown	—	4.60	—

Drawdowns

Drawdown Indicators

	NGD	XGD.TO	Difference
Max Drawdown Largest peak-to-trough decline	—	-80.30%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-34.40%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-34.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-44.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.12%	—
Current Drawdown Current decline from peak	—	-29.21%	—
Average Drawdown Average peak-to-trough decline	—	-40.83%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.14%	—

Volatility

Volatility by Period

	NGD	XGD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.16%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	44.61%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	33.65%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	34.19%	—

Dividends

NGD vs. XGD.TO - Dividend Comparison

NGD has not paid dividends to shareholders, while XGD.TO's dividend yield for the trailing twelve months is around 0.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NGD New Gold Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XGD.TO iShares S&P/TSX Global Gold Index ETF	0.64%	0.62%	0.93%	1.49%	1.77%	1.38%	0.35%	0.54%	0.25%	0.14%	0.10%	0.57%

Frequently Asked Questions

Can I hold both NGD and XGD.TO in my portfolio?

NGD and XGD.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.