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VA.TO vs. ZGD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VA.TO vs. ZGD.TO

Last updated Jun 5, 2026

VA.TO (Vanguard FTSE Developed Asia Pacific All Cap Index ETF) and ZGD.TO (BMO Equal Weight Global Gold Index ETF) are both exchange-traded funds - VA.TO is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific All Cap Index, while ZGD.TO is a Gold fund tracking the Solactive Equal Weight Global Gold Index. Both are passively managed. Over the past 10 years, VA.TO returned 11.14%/yr vs 18.24%/yr for ZGD.TO. At a 0.08 correlation, their price movements are largely independent. VA.TO charges 0.22%/yr vs 0.60%/yr for ZGD.TO.

Performance

VA.TO vs. ZGD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed Asia Pacific All Cap Index ETF (VA.TO) and BMO Equal Weight Global Gold Index ETF (ZGD.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VA.TO achieves a 30.62% return, which is significantly higher than ZGD.TO's 7.53% return. Over the past 10 years, VA.TO has underperformed ZGD.TO with an annualized return of 11.14%, while ZGD.TO has yielded a comparatively higher 18.24% annualized return.

VA.TO

1D
-1.08%
1M
8.99%
YTD
30.62%
6M
29.94%
1Y
53.31%
3Y*
23.89%
5Y*
12.99%
10Y*
11.14%

ZGD.TO

1D
1.20%
1M
3.43%
YTD
7.53%
6M
13.94%
1Y
84.61%
3Y*
57.12%
5Y*
30.91%
10Y*
18.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VA.TO vs. ZGD.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VA.TO
Vanguard FTSE Developed Asia Pacific All Cap Index ETF		30.62%25.82%10.30%12.15%-9.26%0.89%13.71%11.66%-7.54%21.44%
ZGD.TO
BMO Equal Weight Global Gold Index ETF		7.53%170.64%37.48%10.17%-2.30%-12.57%26.59%53.72%-12.09%-0.73%

Correlation

The correlation between VA.TO and ZGD.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (5Y)
Calculated over the trailing 5-year period

0.26

Correlation (10Y)
Calculated over the trailing 10-year period

0.12

Correlation (All Time)
Calculated using the full available price history since Jul 10, 2014

0.08

Over the past year, VA.TO and ZGD.TO have become more correlated (0.35) than their long-term average of 0.08, meaning their price movements have been converging.

VA.TO vs. ZGD.TO - Sectors Allocation Comparison

Sectors
VA.TO
ZGD.TO

Technology

22.4%

-

Industrials

20.6%

-

Financial Services

19.4%

-

Consumer Cyclical

9.7%

-

Basic Materials

7.2%
100.0%

Healthcare

5.0%

-

Communication Services

4.8%

-

Real Estate

4.3%

-

Consumer Defensive

3.5%

-

Energy

1.6%

-

Utilities

1.6%

-

Technology

VA.TO
22.4%
ZGD.TO

-

Industrials

VA.TO
20.6%
ZGD.TO

-

Financial Services

VA.TO
19.4%
ZGD.TO

-

Consumer Cyclical

VA.TO
9.7%
ZGD.TO

-

Basic Materials

VA.TO
7.2%
ZGD.TO
100.0%

Healthcare

VA.TO
5.0%
ZGD.TO

-

Communication Services

VA.TO
4.8%
ZGD.TO

-

Real Estate

VA.TO
4.3%
ZGD.TO

-

Consumer Defensive

VA.TO
3.5%
ZGD.TO

-

Energy

VA.TO
1.6%
ZGD.TO

-

Utilities

VA.TO
1.6%
ZGD.TO

-

Compare stocks, funds, or ETFs

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Vanguard FTSE Developed Asia Pacific All Cap Index ETF

BMO Equal Weight Global Gold Index ETF

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Return for Risk

VA.TO vs. ZGD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VA.TO
VA.TO Risk / Return Rank: 8585
Overall Rank
VA.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
VA.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
VA.TO Omega Ratio Rank: 8585
Omega Ratio Rank
VA.TO Calmar Ratio Rank: 8383
Calmar Ratio Rank
VA.TO Martin Ratio Rank: 8585
Martin Ratio Rank
ZGD.TO
ZGD.TO Risk / Return Rank: 5252
Overall Rank
ZGD.TO Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
ZGD.TO Sortino Ratio Rank: 4545
Sortino Ratio Rank
ZGD.TO Omega Ratio Rank: 5252
Omega Ratio Rank
ZGD.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
ZGD.TO Martin Ratio Rank: 4747
Martin Ratio Rank
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.

VA.TO vs. ZGD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Asia Pacific All Cap Index ETF (VA.TO) and BMO Equal Weight Global Gold Index ETF (ZGD.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.

VA.TOZGD.TODifference
Sharpe ratioReturn per unit of total volatility
2.82
1.89

+0.93

Sortino ratioReturn per unit of downside risk
3.67
2.21

+1.46

Omega ratioGain probability vs. loss probability

1.51

1.32

+0.19

Calmar ratioReturn relative to maximum drawdown

4.43

2.82

+1.61

Martin ratioReturn relative to average drawdown

17.25

7.62

+9.63

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VA.TO vs. ZGD.TO - Sharpe Ratio Comparison

The current VA.TO Sharpe Ratio is 2.82, which is higher than the ZGD.TO Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of VA.TO and ZGD.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VA.TOZGD.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.82

1.89

+0.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.88

0.85

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.74

0.49

+0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.68

0.29

+0.40

Drawdowns

VA.TO vs. ZGD.TO - Drawdown Comparison

The maximum VA.TO drawdown since its inception was -25.81%, smaller than the maximum ZGD.TO drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for VA.TO and ZGD.TO.

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Drawdown Indicators

VA.TOZGD.TODifference

Max Drawdown

Largest peak-to-trough decline

-25.81%

-60.12%

+34.31%

Max Drawdown (1Y)

Largest decline over 1 year

-12.09%

-30.15%

+18.06%

Max Drawdown (3Y)

Largest decline over 3 years

-13.99%

-30.15%

+16.16%

Max Drawdown (5Y)

Largest decline over 5 years

-24.74%

-42.75%

+18.01%

Max Drawdown (10Y)

Largest decline over 10 years

-25.81%

-51.72%

+25.91%

Current Drawdown

Current decline from peak

-1.08%

-21.82%

+20.74%

Average Drawdown

Average peak-to-trough decline

-5.54%

-28.33%

+22.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

11.15%

-8.05%

Volatility

VA.TO vs. ZGD.TO - Volatility Comparison

The current volatility for Vanguard FTSE Developed Asia Pacific All Cap Index ETF (VA.TO) is 6.51%, while BMO Equal Weight Global Gold Index ETF (ZGD.TO) has a volatility of 15.73%. This indicates that VA.TO experiences smaller price fluctuations and is considered to be less risky than ZGD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VA.TOZGD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.51%

15.73%

-9.22%

Volatility (6M)

Calculated over the trailing 6-month period

16.45%

36.41%

-19.96%

Volatility (1Y)

Calculated over the trailing 1-year period

18.99%

45.12%

-26.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.78%

36.41%

-21.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.15%

37.35%

-22.20%

VA.TO vs. ZGD.TO - Expense Ratio Comparison

VA.TO has a 0.22% expense ratio, which is lower than ZGD.TO's 0.60% expense ratio.

Dividends

VA.TO vs. ZGD.TO - Dividend Comparison

VA.TO's dividend yield for the trailing twelve months is around 1.66%, more than ZGD.TO's 0.20% yield.

PositionTTM20252024202320222021202020192018201720162015
VA.TO
Vanguard FTSE Developed Asia Pacific All Cap Index ETF		1.66%2.17%2.31%2.57%3.09%2.35%2.14%2.53%2.84%1.71%1.62%1.88%
ZGD.TO
BMO Equal Weight Global Gold Index ETF		0.20%0.22%0.59%0.76%0.77%0.38%0.16%1.20%0.00%0.00%0.32%0.46%

Frequently Asked Questions

VA.TO and ZGD.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VA.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VA.TO is cheaper with a 0.22% expense ratio, compared with 0.60% for ZGD.TO.

VA.TO is categorized as Asia Pacific Equities, while ZGD.TO is Gold. VA.TO tracks FTSE Developed Asia Pacific All Cap Index, while ZGD.TO tracks Solactive Equal Weight Global Gold Index. They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.22% for VA.TO and 0.60% for ZGD.TO.

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