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VALT.TO vs. XGD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VALT.TO vs. XGD.TO

Last updated Jun 4, 2026

VALT.TO (CI Gold Bullion Fund) and XGD.TO (iShares S&P/TSX Global Gold Index ETF) are both exchange-traded funds - VALT.TO is a fund fund, while XGD.TO is a Precious Metals fund tracking the Morningstar Gbl Gold GR CAD. Over the past 5 years, VALT.TO returned 17.30%/yr vs 22.30%/yr for XGD.TO. A 0.60 correlation means they provide meaningful diversification when combined.

Performance

VALT.TO vs. XGD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Gold Bullion Fund (VALT.TO) and iShares S&P/TSX Global Gold Index ETF (XGD.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VALT.TO achieves a 2.61% return, which is significantly lower than XGD.TO's 3.35% 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*
—

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VALT.TO vs. XGD.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
VALT.TO
CI Gold Bullion Fund		2.61%60.46%25.58%12.35%0.92%-3.19%
XGD.TO
iShares S&P/TSX Global Gold Index ETF		3.35%144.45%19.63%3.91%-3.10%-6.43%

Correlation

The correlation between VALT.TO and XGD.TO is 0.75, 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

0.75

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

0.69

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

0.59

Correlation (All Time)
Calculated using the full available price history since Jan 13, 2021

0.60

The correlation between VALT.TO and XGD.TO shifts across timeframes, from 0.59 (5 years) to 0.75 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CI Gold Bullion Fund

iShares S&P/TSX Global Gold Index ETF

Often compared with VALT.TO:
VALT.TO vs. KILO.TOVALT.TO vs. CGL.TOVALT.TO vs. ZGLD.TOVALT.TO vs. HUG.TOVALT.TO vs. CGL-C.TOVALT.TO vs. FBTCVALT.TO vs. VFV.TO
Often compared with XGD.TO:
XGD.TO vs. CGL.TOXGD.TO vs. GLDXGD.TO vs. ZGD.TOXGD.TO vs. MNT.TOXGD.TO vs. BRK-BXGD.TO vs. ZGLD.TOXGD.TO vs. ZGLD.SW

Return for Risk

VALT.TO vs. XGD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VALT.TO
VALT.TO Risk / Return Rank: 3030
Overall Rank
VALT.TO Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
VALT.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
VALT.TO Omega Ratio Rank: 3232
Omega Ratio Rank
VALT.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
VALT.TO Martin Ratio Rank: 2727
Martin Ratio Rank
XGD.TO
XGD.TO Risk / Return Rank: 4242
Overall Rank
XGD.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
XGD.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
XGD.TO Omega Ratio Rank: 4343
Omega Ratio Rank
XGD.TO Calmar Ratio Rank: 4747
Calmar Ratio Rank
XGD.TO Martin Ratio Rank: 3939
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.

VALT.TO vs. XGD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Gold Bullion Fund (VALT.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.

VALT.TOXGD.TODifference
Sharpe ratioReturn per unit of total volatility
1.13
1.59

-0.46

Sortino ratioReturn per unit of downside risk
1.53
1.97

-0.45

Omega ratioGain probability vs. loss probability

1.22

1.28

-0.06

Calmar ratioReturn relative to maximum drawdown

1.56

2.35

-0.80

Martin ratioReturn relative to average drawdown

3.82

6.22

-2.40

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

VALT.TO vs. XGD.TO - Sharpe Ratio Comparison

The current VALT.TO Sharpe Ratio is 1.13, which is comparable to the XGD.TO Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of VALT.TO and XGD.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

VALT.TOXGD.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.13

1.59

-0.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.96

0.69

+0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.45

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.92

0.25

+0.67

Drawdowns

VALT.TO vs. XGD.TO - Drawdown Comparison

The maximum VALT.TO drawdown since its inception was -20.96%, smaller than the maximum XGD.TO drawdown of -72.55%. Use the drawdown chart below to compare losses from any high point for VALT.TO and XGD.TO.

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Drawdown Indicators

VALT.TOXGD.TODifference

Max Drawdown

Largest peak-to-trough decline

-20.96%

-72.55%

+51.59%

Max Drawdown (1Y)

Largest decline over 1 year

-19.47%

-28.95%

+9.48%

Max Drawdown (3Y)

Largest decline over 3 years

-19.47%

-28.95%

+9.48%

Max Drawdown (5Y)

Largest decline over 5 years

-20.96%

-40.82%

+19.86%

Max Drawdown (10Y)

Largest decline over 10 years

—

-46.96%

—

Current Drawdown

Current decline from peak

-18.14%

-23.49%

+5.35%

Average Drawdown

Average peak-to-trough decline

-5.78%

-28.30%

+22.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.91%

10.93%

-3.02%

Volatility

VALT.TO vs. XGD.TO - Volatility Comparison

The current volatility for CI Gold Bullion Fund (VALT.TO) is 5.90%, while iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a volatility of 14.43%. This indicates that VALT.TO experiences smaller price fluctuations and is considered to be less risky 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

VALT.TOXGD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.90%

14.43%

-8.53%

Volatility (6M)

Calculated over the trailing 6-month period

23.20%

34.40%

-11.20%

Volatility (1Y)

Calculated over the trailing 1-year period

26.84%

42.86%

-16.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.17%

32.64%

-14.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.91%

33.38%

-15.47%

Dividends

VALT.TO vs. XGD.TO - Dividend Comparison

VALT.TO has not paid dividends to shareholders, while XGD.TO's dividend yield for the trailing twelve months is around 0.60%.

PositionTTM20252024202320222021202020192018201720162015
VALT.TO
CI Gold 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

VALT.TO and XGD.TO have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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