VALT-U.TO vs. ZJG.TO
VALT-U.TO (CI Gold Bullion ETF (US$ Series)) and ZJG.TO (BMO Junior Gold Index ETF) are both Gold funds. VALT-U.TO is actively managed, while ZJG.TO is passively managed. Over the past 5 years, VALT-U.TO returned 17.66%/yr vs 24.01%/yr for ZJG.TO. At a 0.47 correlation, their price movements are largely independent.
Performance
VALT-U.TO vs. ZJG.TO - Performance Comparison
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Different Trading Currencies
VALT-U.TO is traded in USD, while ZJG.TO is traded in CAD. To make them comparable, the ZJG.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VALT-U.TO achieves a -6.39% return, which is significantly higher than ZJG.TO's -9.91% return.
VALT-U.TO
- 1D
- 0.73%
- 1M
- -11.06%
- YTD
- -6.39%
- 6M
- -7.30%
- 1Y
- 22.84%
- 3Y*
- 28.29%
- 5Y*
- 17.66%
- 10Y*
- —
ZJG.TO
- 1D
- -0.53%
- 1M
- -15.90%
- YTD
- -9.91%
- 6M
- -10.57%
- 1Y
- 54.90%
- 3Y*
- 47.35%
- 5Y*
- 24.01%
- 10Y*
- 12.65%
VALT-U.TO vs. ZJG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VALT-U.TO CI Gold Bullion ETF (US$ Series) | -6.39% | 65.42% | 26.27% | 13.43% | -0.93% | -1.30% |
ZJG.TO BMO Junior Gold Index ETF | -9.91% | 166.84% | 25.79% | 8.69% | -6.79% | -12.46% |
Correlation
The correlation between VALT-U.TO and ZJG.TO is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jan 14, 2021 | 0.47 |
Over the past year, VALT-U.TO and ZJG.TO have become more correlated (0.72) than their long-term average of 0.47, meaning their price movements have been converging.
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Return for Risk
VALT-U.TO vs. ZJG.TO — Risk / Return Rank
VALT-U.TO
ZJG.TO
VALT-U.TO vs. ZJG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Gold Bullion ETF (US$ Series) (VALT-U.TO) and BMO Junior Gold Index ETF (ZJG.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.
| VALT-U.TO | ZJG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 1.42 | -0.82 |
| Martin ratioReturn relative to average drawdown | 1.61 | 3.44 | -1.83 |
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Drawdowns
VALT-U.TO vs. ZJG.TO - Drawdown Comparison
The maximum VALT-U.TO drawdown since its inception was -38.65%, smaller than the maximum ZJG.TO drawdown of -87.27%. Use the drawdown chart below to compare losses from any high point for VALT-U.TO and ZJG.TO.
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Drawdown Indicators
| VALT-U.TO | ZJG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.65% | -87.27% | +48.62% |
Max Drawdown (1Y)Largest decline over 1 year | -38.65% | -38.83% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -38.65% | -38.83% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -38.65% | -45.54% | +6.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.24% | — |
Current DrawdownCurrent decline from peak | -37.72% | -36.54% | -1.18% |
Average DrawdownAverage peak-to-trough decline | -6.11% | -56.01% | +49.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.30% | 16.00% | -1.70% |
Volatility
VALT-U.TO vs. ZJG.TO - Volatility Comparison
The current volatility for CI Gold Bullion ETF (US$ Series) (VALT-U.TO) is 8.30%, while BMO Junior Gold Index ETF (ZJG.TO) has a volatility of 17.38%. This indicates that VALT-U.TO experiences smaller price fluctuations and is considered to be less risky than ZJG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VALT-U.TO | ZJG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.30% | 17.38% | -9.08% |
Volatility (6M)Calculated over the trailing 6-month period | 39.00% | 40.72% | -1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.49% | 49.17% | -7.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.08% | 37.78% | -14.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.39% | 38.85% | -16.46% |
Dividends
VALT-U.TO vs. ZJG.TO - Dividend Comparison
VALT-U.TO has not paid dividends to shareholders, while ZJG.TO's dividend yield for the trailing twelve months is around 0.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
VALT-U.TO CI Gold Bullion ETF (US$ Series) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZJG.TO BMO Junior Gold Index ETF | 0.13% | 0.12% | 0.68% | 0.90% | 0.83% | 0.36% |
Frequently Asked Questions
VALT-U.TO and ZJG.TO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: CI and BMO.
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