VBG.NEO vs. CGL.TO
VBG.NEO (Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)) and CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) are both exchange-traded funds - VBG.NEO is a Global Bonds fund tracking the Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (CAD Hedged), while CGL.TO is a Gold fund tracking the Gold Bullion. Both are passively managed. Over the past 10 years, VBG.NEO returned 0.33%/yr vs 12.09%/yr for CGL.TO. At a 0.23 correlation, their price movements are largely independent. VBG.NEO charges 0.39%/yr vs 0.55%/yr for CGL.TO.
Performance
VBG.NEO vs. CGL.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VBG.NEO achieves a -0.27% return, which is significantly lower than CGL.TO's 2.98% return. Over the past 10 years, VBG.NEO has underperformed CGL.TO with an annualized return of 0.33%, while CGL.TO has yielded a comparatively higher 12.09% annualized return.
VBG.NEO
- 1D
- 0.09%
- 1M
- 0.02%
- YTD
- -0.27%
- 6M
- -0.75%
- 1Y
- -0.38%
- 3Y*
- 1.83%
- 5Y*
- -1.35%
- 10Y*
- 0.33%
CGL.TO
- 1D
- 0.80%
- 1M
- -1.89%
- YTD
- 2.98%
- 6M
- 4.94%
- 1Y
- 29.90%
- 3Y*
- 29.26%
- 5Y*
- 17.02%
- 10Y*
- 12.09%
VBG.NEO vs. CGL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) | -0.27% | 0.14% | 1.68% | 6.85% | -13.38% | -3.03% | 3.87% | 6.33% | 1.34% | 1.78% |
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | 2.98% | 60.12% | 25.67% | 11.26% | -1.07% | -4.58% | 23.41% | 16.58% | -3.19% | 11.68% |
Correlation
The correlation between VBG.NEO and CGL.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2014 | 0.23 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VBG.NEO vs. CGL.TO — Risk / Return Rank
VBG.NEO
CGL.TO
VBG.NEO vs. CGL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) and iShares Gold Bullion ETF (CAD-Hedged) (CGL.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.
| VBG.NEO | CGL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.22 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 1.55 | -1.78 |
| Martin ratioReturn relative to average drawdown | -0.55 | 3.77 | -4.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VBG.NEO | CGL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.19 | 1.12 | -1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.26 | 0.93 | -1.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | 0.74 | -0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.48 | -0.25 |
Drawdowns
VBG.NEO vs. CGL.TO - Drawdown Comparison
The maximum VBG.NEO drawdown since its inception was -17.31%, smaller than the maximum CGL.TO drawdown of -44.53%. Use the drawdown chart below to compare losses from any high point for VBG.NEO and CGL.TO.
Loading charts...
Drawdown Indicators
| VBG.NEO | CGL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.31% | -44.53% | +27.22% |
Max Drawdown (1Y)Largest decline over 1 year | -3.17% | -19.36% | +16.19% |
Max Drawdown (3Y)Largest decline over 3 years | -3.17% | -19.36% | +16.19% |
Max Drawdown (5Y)Largest decline over 5 years | -16.66% | -22.18% | +5.52% |
Max Drawdown (10Y)Largest decline over 10 years | -17.31% | -23.72% | +6.41% |
Current DrawdownCurrent decline from peak | -9.05% | -17.55% | +8.50% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -18.16% | +13.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 7.95% | -6.64% |
Volatility
VBG.NEO vs. CGL.TO - Volatility Comparison
The current volatility for Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) is 1.84%, while iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) has a volatility of 5.60%. This indicates that VBG.NEO experiences smaller price fluctuations and is considered to be less risky than CGL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VBG.NEO | CGL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 5.60% | -3.76% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 23.18% | -20.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 26.88% | -23.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 18.33% | -13.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 16.41% | -11.79% |
VBG.NEO vs. CGL.TO - Expense Ratio Comparison
VBG.NEO has a 0.39% expense ratio, which is lower than CGL.TO's 0.55% expense ratio.
Dividends
VBG.NEO vs. CGL.TO - Dividend Comparison
VBG.NEO's dividend yield for the trailing twelve months is around 3.61%, while CGL.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) | 3.61% | 3.46% | 3.25% | 3.44% | 1.14% | 2.91% | 0.64% | 2.54% | 2.34% | 1.74% | 1.41% | 1.26% |
Frequently Asked Questions
VBG.NEO and CGL.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VBG.NEO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VBG.NEO is cheaper with a 0.39% expense ratio, compared with 0.55% for CGL.TO.
VBG.NEO is categorized as Global Bonds, while CGL.TO is Gold. VBG.NEO tracks Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (CAD Hedged), while CGL.TO tracks Gold Bullion. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.39% for VBG.NEO and 0.55% for CGL.TO.
Find the right allocation for VBG.NEO and CGL.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer