PHYS.TO vs. ^TNX

Last updated Apr 2, 2026

Compare and contrast key facts about Sprott Physical Gold Trust (PHYS.TO) and Treasury Yield 10 Years (^TNX).

Performance

PHYS.TO vs. ^TNX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Sprott Physical Gold Trust (PHYS.TO) and Treasury Yield 10 Years (^TNX). The values are adjusted to include any dividend payments, if applicable.

PHYS.TO vs. ^TNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PHYS.TO Sprott Physical Gold Trust	10.95%	56.35%	37.41%	10.65%	4.96%	-5.37%	21.38%	12.13%	4.21%
^TNX Treasury Yield 10 Years	5.06%	-13.14%	28.45%	-2.53%	174.83%	63.40%	-53.02%	-32.07%	4.65%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, PHYS.TO achieves a 10.95% return, which is significantly higher than ^TNX's 5.06% return.

PHYS.TO

• 1D: 1.78%
• 1M: -9.73%
• YTD: 10.95%
• 6M: 21.40%
• 1Y: 45.33%
• 3Y*: 33.98%
• 5Y*: 24.23%
• 10Y*: —

^TNX

• 1D: 0.05%
• 1M: 8.43%
• YTD: 5.06%
• 6M: 4.89%
• 1Y: 0.97%
• 3Y*: 8.32%
• 5Y*: 23.30%
• 10Y*: 9.92%

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

Return for Risk

PHYS.TO vs. ^TNX — Risk / Return Rank

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

PHYS.TO

PHYS.TO Risk / Return Rank: 83
PHYS.TO Sharpe Ratio Rank: 86
PHYS.TO Sortino Ratio Rank: 79
PHYS.TO Omega Ratio Rank: 83
PHYS.TO Calmar Ratio Rank: 81
PHYS.TO Martin Ratio Rank: 86

^TNX

^TNX Risk / Return Rank: 22
^TNX Sharpe Ratio Rank: 26
^TNX Sortino Ratio Rank: 23
^TNX Omega Ratio Rank: 22
^TNX Calmar Ratio Rank: 19
^TNX Martin Ratio Rank: 18

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.

PHYS.TO vs. ^TNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Gold Trust (PHYS.TO) and Treasury Yield 10 Years (^TNX). 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.

	PHYS.TO	^TNX	Difference
Sharpe ratio Return per unit of total volatility	1.69	0.05	+1.64
Sortino ratio Return per unit of downside risk	2.09	0.21	+1.88
Omega ratio Gain probability vs. loss probability	1.32	1.02	+0.29
Calmar ratio Return relative to maximum drawdown	2.49	-0.12	+2.61
Martin ratio Return relative to average drawdown	8.78	-0.20	+8.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PHYS.TO vs. ^TNX - Sharpe Ratio Comparison

The current PHYS.TO Sharpe Ratio is 1.69, which is higher than the ^TNX Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of PHYS.TO and ^TNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PHYS.TO	^TNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	0.05	+1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.44	0.69	+0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.07	+0.58

Correlation

The correlation between PHYS.TO and ^TNX is -0.29. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Drawdowns

PHYS.TO vs. ^TNX - Drawdown Comparison

The maximum PHYS.TO drawdown since its inception was -27.08%, smaller than the maximum ^TNX drawdown of -84.33%. Use the drawdown chart below to compare losses from any high point for PHYS.TO and ^TNX.

Drawdown Indicators

	PHYS.TO	^TNX	Difference
Max Drawdown Largest peak-to-trough decline	-27.08%	-93.78%	+66.70%
Max Drawdown (1Y) Largest decline over 1 year	-18.14%	-13.99%	-4.15%
Max Drawdown (5Y) Largest decline over 5 years	-18.14%	-31.74%	+13.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-84.57%	—
Current Drawdown Current decline from peak	-9.73%	-46.17%	+36.44%
Average Drawdown Average peak-to-trough decline	-7.72%	-51.38%	+43.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.15%	8.39%	-3.24%

Volatility

PHYS.TO vs. ^TNX - Volatility Comparison

Sprott Physical Gold Trust (PHYS.TO) has a higher volatility of 10.29% compared to Treasury Yield 10 Years (^TNX) at 6.30%. This indicates that PHYS.TO's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHYS.TO	^TNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.29%	6.30%	+3.99%
Volatility (6M) Calculated over the trailing 6-month period	23.98%	11.34%	+12.64%
Volatility (1Y) Calculated over the trailing 1-year period	26.91%	19.20%	+7.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	33.89%	-16.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.95%	48.45%	-21.50%