VFV.TO vs. CGL.TO
VFV.TO (Vanguard S&P 500 Index ETF) and CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) are both exchange-traded funds - VFV.TO is a S&P 500 fund tracking the S&P 500 Index, while CGL.TO is a Gold fund tracking the Gold Bullion. Both are passively managed. Over the past 10 years, VFV.TO returned 16.32%/yr vs 11.18%/yr for CGL.TO. At a correlation of -0.14, they often move in opposite directions. VFV.TO charges 0.09%/yr vs 0.55%/yr for CGL.TO.
Performance
VFV.TO vs. CGL.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VFV.TO achieves a 13.00% return, which is significantly higher than CGL.TO's -0.75% return. Over the past 10 years, VFV.TO has outperformed CGL.TO with an annualized return of 16.32%, while CGL.TO has yielded a comparatively lower 11.18% annualized return.
VFV.TO
- 1D
- 1.74%
- 1M
- 3.84%
- YTD
- 13.00%
- 6M
- 13.01%
- 1Y
- 31.44%
- 3Y*
- 23.27%
- 5Y*
- 16.66%
- 10Y*
- 16.32%
CGL.TO
- 1D
- 2.52%
- 1M
- -5.26%
- YTD
- -0.75%
- 6M
- -0.60%
- 1Y
- 22.95%
- 3Y*
- 27.87%
- 5Y*
- 16.95%
- 10Y*
- 11.18%
VFV.TO vs. CGL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFV.TO Vanguard S&P 500 Index ETF | 13.00% | 12.18% | 35.23% | 23.23% | -12.58% | 27.51% | 15.61% | 25.14% | 2.95% | 13.69% |
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | -0.75% | 60.08% | 25.70% | 11.26% | -1.07% | -4.58% | 23.41% | 16.58% | -3.19% | 11.68% |
Correlation
The correlation between VFV.TO and CGL.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2012 | -0.14 |
The correlation between VFV.TO and CGL.TO shifts across timeframes, from -0.14 (all time) to 0.13 (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.
Return for Risk
VFV.TO vs. CGL.TO — Risk / Return Rank
VFV.TO
CGL.TO
VFV.TO vs. CGL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Index ETF (VFV.TO) 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.
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.
| VFV.TO | CGL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.17 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 0.92 | +2.74 |
| Martin ratioReturn relative to average drawdown | 13.81 | 2.64 | +11.17 |
Loading charts...
Drawdowns
VFV.TO vs. CGL.TO - Drawdown Comparison
The maximum VFV.TO drawdown since its inception was -27.43%, smaller than the maximum CGL.TO drawdown of -45.96%. Use the drawdown chart below to compare losses from any high point for VFV.TO and CGL.TO.
Loading charts...
Drawdown Indicators
| VFV.TO | CGL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.43% | -45.96% | +18.53% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -24.93% | +16.31% |
Max Drawdown (3Y)Largest decline over 3 years | -19.05% | -24.93% | +5.88% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -24.93% | +2.74% |
Max Drawdown (10Y)Largest decline over 10 years | -27.43% | -24.93% | -2.50% |
Current DrawdownCurrent decline from peak | 0.00% | -20.54% | +20.54% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -20.30% | +16.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 8.75% | -6.47% |
Volatility
VFV.TO vs. CGL.TO - Volatility Comparison
The current volatility for Vanguard S&P 500 Index ETF (VFV.TO) is 4.71%, while iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) has a volatility of 8.23%. This indicates that VFV.TO 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
| VFV.TO | CGL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 8.23% | -3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 9.36% | 24.17% | -14.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.91% | 27.71% | -15.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.01% | 18.58% | -3.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.61% | 16.55% | +0.06% |
VFV.TO vs. CGL.TO - Expense Ratio Comparison
VFV.TO has a 0.09% expense ratio, which is lower than CGL.TO's 0.55% expense ratio.
Dividends
VFV.TO vs. CGL.TO - Dividend Comparison
VFV.TO's dividend yield for the trailing twelve months is around 0.83%, 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% |
VFV.TO Vanguard S&P 500 Index ETF | 0.83% | 0.92% | 0.99% | 1.20% | 1.31% | 1.06% | 1.33% | 1.55% | 1.69% | 1.51% | 1.65% | 1.63% |
Frequently Asked Questions
VFV.TO and CGL.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VFV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VFV.TO is cheaper with a 0.09% expense ratio, compared with 0.55% for CGL.TO.
VFV.TO is categorized as S&P 500, while CGL.TO is Gold. VFV.TO tracks S&P 500 Index, while CGL.TO tracks Gold Bullion. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.09% for VFV.TO and 0.55% for CGL.TO.
Find the right allocation for VFV.TO 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