SBT.TO vs. XGD.TO
SBT.TO (Purpose Silver Bullion Fund) and XGD.TO (iShares S&P/TSX Global Gold Index ETF) are both exchange-traded funds - SBT.TO is a Silver fund tracking the LBMA Silver Price, while XGD.TO is a Precious Metals fund tracking the Morningstar Gbl Gold GR CAD. Both are passively managed. Over the past 10 years, SBT.TO returned 13.84%/yr vs 14.79%/yr for XGD.TO. At a 0.29 correlation, their price movements are largely independent. SBT.TO charges 0.36%/yr vs 0.61%/yr for XGD.TO.
Performance
SBT.TO vs. XGD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, SBT.TO achieves a 2.24% return, which is significantly lower than XGD.TO's 3.35% return. Over the past 10 years, SBT.TO has underperformed XGD.TO with an annualized return of 13.84%, while XGD.TO has yielded a comparatively higher 14.79% annualized return.
SBT.TO
- 1D
- -2.53%
- 1M
- 0.38%
- YTD
- 2.24%
- 6M
- 24.07%
- 1Y
- 105.34%
- 3Y*
- 42.09%
- 5Y*
- 18.84%
- 10Y*
- 13.84%
XGD.TO
- 1D
- -2.80%
- 1M
- 1.62%
- YTD
- 3.35%
- 6M
- 8.72%
- 1Y
- 67.78%
- 3Y*
- 43.11%
- 5Y*
- 22.30%
- 10Y*
- 14.79%
SBT.TO vs. XGD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBT.TO Purpose Silver Bullion Fund | 2.24% | 137.07% | 18.55% | -0.86% | 1.99% | -13.18% | 48.01% | 13.31% | -12.82% | -17.07% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | 3.35% | 144.45% | 19.63% | 3.91% | -3.10% | -5.81% | 21.10% | 40.18% | -4.10% | 0.96% |
Correlation
The correlation between SBT.TO and XGD.TO is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since May 30, 2016 | 0.29 |
Over the past year, SBT.TO and XGD.TO have become more correlated (0.67) than their long-term average of 0.29, meaning their price movements have been converging.
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Return for Risk
SBT.TO vs. XGD.TO — Risk / Return Rank
SBT.TO
XGD.TO
SBT.TO vs. XGD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Silver Bullion Fund (SBT.TO) 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.
| SBT.TO | XGD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.28 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.35 | +0.13 |
| Martin ratioReturn relative to average drawdown | 5.33 | 6.22 | -0.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SBT.TO | XGD.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 1.59 | +0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.69 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | 0.45 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.25 | -0.04 |
Drawdowns
SBT.TO vs. XGD.TO - Drawdown Comparison
The maximum SBT.TO drawdown since its inception was -47.82%, smaller than the maximum XGD.TO drawdown of -72.55%. Use the drawdown chart below to compare losses from any high point for SBT.TO and XGD.TO.
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Drawdown Indicators
| SBT.TO | XGD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.82% | -72.55% | +24.73% |
Max Drawdown (1Y)Largest decline over 1 year | -42.69% | -28.95% | -13.74% |
Max Drawdown (3Y)Largest decline over 3 years | -42.69% | -28.95% | -13.74% |
Max Drawdown (5Y)Largest decline over 5 years | -42.69% | -40.82% | -1.87% |
Max Drawdown (10Y)Largest decline over 10 years | -47.82% | -46.96% | -0.86% |
Current DrawdownCurrent decline from peak | -37.47% | -23.49% | -13.98% |
Average DrawdownAverage peak-to-trough decline | -16.92% | -28.30% | +11.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.84% | 10.93% | +8.91% |
Volatility
SBT.TO vs. XGD.TO - Volatility Comparison
Purpose Silver Bullion Fund (SBT.TO) has a higher volatility of 17.19% compared to iShares S&P/TSX Global Gold Index ETF (XGD.TO) at 14.43%. This indicates that SBT.TO's price experiences larger fluctuations and is considered to be riskier than XGD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBT.TO | XGD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.19% | 14.43% | +2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 57.92% | 34.40% | +23.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.01% | 42.86% | +16.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.64% | 32.64% | +4.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.58% | 33.38% | +33.20% |
SBT.TO vs. XGD.TO - Expense Ratio Comparison
SBT.TO has a 0.36% expense ratio, which is lower than XGD.TO's 0.61% expense ratio.
Dividends
SBT.TO vs. XGD.TO - Dividend Comparison
SBT.TO has not paid dividends to shareholders, while XGD.TO's dividend yield for the trailing twelve months is around 0.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SBT.TO Purpose Silver Bullion Fund | 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 | 0.60% | 0.62% | 0.93% | 1.49% | 1.80% | 1.38% | 0.35% | 0.54% | 0.25% | 0.14% | 0.09% | 0.57% |
Frequently Asked Questions
SBT.TO and XGD.TO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SBT.TO is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SBT.TO is cheaper with a 0.36% expense ratio, compared with 0.61% for XGD.TO.
SBT.TO is categorized as Silver, while XGD.TO is Precious Metals. SBT.TO tracks LBMA Silver Price, while XGD.TO tracks Morningstar Gbl Gold GR CAD. They also come from different issuers: Purpose Investments and iShares. Their fees differ too: 0.36% for SBT.TO and 0.61% for XGD.TO.
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