VALT.TO vs. TQCD.TO
VALT.TO (CI Gold Bullion Fund) and TQCD.TO (TD Q Canadian Dividend ETF) are both exchange-traded funds - VALT.TO is a fund fund, while TQCD.TO is a Canada Equities fund actively managed by TD. Over the past 5 years, VALT.TO returned 17.30%/yr vs 17.84%/yr for TQCD.TO. At a 0.24 correlation, their price movements are largely independent.
Performance
VALT.TO vs. TQCD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VALT.TO achieves a 2.61% return, which is significantly lower than TQCD.TO's 14.98% return.
VALT.TO
- 1D
- -0.91%
- 1M
- -1.77%
- YTD
- 2.61%
- 6M
- 4.70%
- 1Y
- 30.16%
- 3Y*
- 28.96%
- 5Y*
- 17.30%
- 10Y*
- —
TQCD.TO
- 1D
- -0.42%
- 1M
- 3.98%
- YTD
- 14.98%
- 6M
- 17.36%
- 1Y
- 37.82%
- 3Y*
- 26.50%
- 5Y*
- 17.84%
- 10Y*
- —
VALT.TO vs. TQCD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VALT.TO CI Gold Bullion Fund | 2.61% | 60.46% | 25.58% | 12.35% | 0.92% | -3.19% |
TQCD.TO TD Q Canadian Dividend ETF | 14.98% | 33.11% | 22.27% | 12.29% | 1.68% | 23.07% |
Correlation
The correlation between VALT.TO and TQCD.TO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2021 | 0.24 |
The correlation between VALT.TO and TQCD.TO shifts across timeframes, from 0.24 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VALT.TO vs. TQCD.TO — Risk / Return Rank
VALT.TO
TQCD.TO
VALT.TO vs. TQCD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Gold Bullion Fund (VALT.TO) and TD Q Canadian Dividend ETF (TQCD.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.
| VALT.TO | TQCD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.48 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.71 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 5.22 | -3.67 |
| Martin ratioReturn relative to average drawdown | 3.82 | 25.92 | -22.10 |
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
| VALT.TO | TQCD.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 3.83 | -2.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | 1.46 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 0.75 | +0.17 |
Drawdowns
VALT.TO vs. TQCD.TO - Drawdown Comparison
The maximum VALT.TO drawdown since its inception was -20.96%, smaller than the maximum TQCD.TO drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for VALT.TO and TQCD.TO.
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Drawdown Indicators
| VALT.TO | TQCD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.96% | -46.47% | +25.51% |
Max Drawdown (1Y)Largest decline over 1 year | -19.47% | -7.27% | -12.20% |
Max Drawdown (3Y)Largest decline over 3 years | -19.47% | -12.42% | -7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -15.65% | -5.31% |
Current DrawdownCurrent decline from peak | -18.14% | -0.42% | -17.72% |
Average DrawdownAverage peak-to-trough decline | -5.78% | -5.99% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.91% | 1.46% | +6.45% |
Volatility
VALT.TO vs. TQCD.TO - Volatility Comparison
CI Gold Bullion Fund (VALT.TO) has a higher volatility of 5.90% compared to TD Q Canadian Dividend ETF (TQCD.TO) at 2.86%. This indicates that VALT.TO's price experiences larger fluctuations and is considered to be riskier than TQCD.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.TO | TQCD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 2.86% | +3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 23.20% | 7.99% | +15.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.84% | 9.92% | +16.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.17% | 12.33% | +5.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.91% | 19.43% | -1.52% |
Dividends
VALT.TO vs. TQCD.TO - Dividend Comparison
VALT.TO has not paid dividends to shareholders, while TQCD.TO's dividend yield for the trailing twelve months is around 2.77%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TQCD.TO TD Q Canadian Dividend ETF | 2.77% | 2.95% | 3.47% | 3.73% | 4.03% | 4.09% | 6.20% | 0.39% |
VALT.TO CI Gold Bullion Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VALT.TO and TQCD.TO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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