TIP vs. MNT.TO
TIP (iShares TIPS Bond ETF) and MNT.TO (Royal Canadian Mint - Canadian Gold Reserves) are both exchange-traded funds - TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index, while MNT.TO is a Gold fund. Over the past 10 years, TIP returned 2.54%/yr vs 12.24%/yr for MNT.TO. At a 0.23 correlation, their price movements are largely independent.
Performance
TIP vs. MNT.TO - Performance Comparison
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Different Trading Currencies
TIP is traded in USD, while MNT.TO is traded in CAD. To make them comparable, the MNT.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TIP achieves a 1.53% return, which is significantly higher than MNT.TO's -4.97% return. Over the past 10 years, TIP has underperformed MNT.TO with an annualized return of 2.54%, while MNT.TO has yielded a comparatively higher 12.24% annualized return.
TIP
- 1D
- 0.14%
- 1M
- 0.39%
- YTD
- 1.53%
- 6M
- 1.63%
- 1Y
- 4.91%
- 3Y*
- 3.83%
- 5Y*
- 1.10%
- 10Y*
- 2.54%
MNT.TO
- 1D
- 3.00%
- 1M
- -6.20%
- YTD
- -4.97%
- 6M
- -6.85%
- 1Y
- 18.17%
- 3Y*
- 30.88%
- 5Y*
- 18.41%
- 10Y*
- 12.24%
TIP vs. MNT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 1.53% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
MNT.TO Royal Canadian Mint - Canadian Gold Reserves | -4.97% | 68.94% | 33.51% | 6.13% | 3.93% | -10.47% | 29.20% | 18.35% | -2.35% | 13.19% |
Correlation
The correlation between TIP and MNT.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2012 | 0.23 |
The correlation between TIP and MNT.TO shifts across timeframes, from 0.08 (1 year) to 0.24 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIP vs. MNT.TO — Risk / Return Rank
TIP
MNT.TO
TIP vs. MNT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) and Royal Canadian Mint - Canadian Gold Reserves (MNT.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.
| TIP | MNT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.13 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 0.60 | +1.89 |
| Martin ratioReturn relative to average drawdown | 7.45 | 1.66 | +5.79 |
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Drawdowns
TIP vs. MNT.TO - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, smaller than the maximum MNT.TO drawdown of -45.44%. Use the drawdown chart below to compare losses from any high point for TIP and MNT.TO.
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Drawdown Indicators
| TIP | MNT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -45.44% | +30.87% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -30.40% | +28.42% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -30.40% | +25.86% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | -30.40% | +15.89% |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | -32.69% | +18.18% |
Current DrawdownCurrent decline from peak | -0.33% | -24.84% | +24.51% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -23.40% | +19.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 10.95% | -10.29% |
Volatility
TIP vs. MNT.TO - Volatility Comparison
The current volatility for iShares TIPS Bond ETF (TIP) is 1.03%, while Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) has a volatility of 8.65%. This indicates that TIP experiences smaller price fluctuations and is considered to be less risky than MNT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIP | MNT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 8.65% | -7.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 26.13% | -23.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 31.50% | -28.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 21.45% | -15.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 20.51% | -14.77% |
Dividends
TIP vs. MNT.TO - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.76%, while MNT.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNT.TO Royal Canadian Mint - Canadian Gold Reserves | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
TIP and MNT.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIP is categorized as Inflation-Protected Bonds, while MNT.TO is Gold.
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