XCG.TO vs. CGL.TO
XCG.TO (iShares Canadian Growth Index ETF) and CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) are both exchange-traded funds - XCG.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while CGL.TO is a Precious Metals fund tracking the Gold Bullion. Both are passively managed. Over the past 10 years, XCG.TO returned 9.54%/yr vs 12.09%/yr for CGL.TO. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.
Performance
XCG.TO vs. CGL.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XCG.TO having a 2.86% return and CGL.TO slightly higher at 2.98%. Over the past 10 years, XCG.TO has underperformed CGL.TO with an annualized return of 9.54%, while CGL.TO has yielded a comparatively higher 12.09% annualized return.
XCG.TO
- 1D
- 0.92%
- 1M
- 3.98%
- YTD
- 2.86%
- 6M
- -4.93%
- 1Y
- 5.89%
- 3Y*
- 13.77%
- 5Y*
- 8.36%
- 10Y*
- 9.54%
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%
XCG.TO vs. CGL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCG.TO iShares Canadian Growth Index ETF | 2.86% | 9.37% | 21.40% | 17.43% | -11.67% | 15.98% | 11.25% | 28.29% | -6.14% | 7.03% |
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 XCG.TO and CGL.TO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 29, 2009 | 0.23 |
The correlation between XCG.TO and CGL.TO shifts across timeframes, from 0.16 (10 years) to 0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XCG.TO vs. CGL.TO — Risk / Return Rank
XCG.TO
CGL.TO
XCG.TO vs. CGL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Growth Index ETF (XCG.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.
| XCG.TO | CGL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.22 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 1.55 | -1.16 |
| Martin ratioReturn relative to average drawdown | 1.12 | 3.77 | -2.65 |
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
| XCG.TO | CGL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 1.12 | -0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.93 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.74 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.48 | -0.11 |
Drawdowns
XCG.TO vs. CGL.TO - Drawdown Comparison
The maximum XCG.TO drawdown since its inception was -52.64%, which is greater than CGL.TO's maximum drawdown of -44.53%. Use the drawdown chart below to compare losses from any high point for XCG.TO and CGL.TO.
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Drawdown Indicators
| XCG.TO | CGL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.64% | -44.53% | -8.11% |
Max Drawdown (1Y)Largest decline over 1 year | -15.27% | -19.36% | +4.09% |
Max Drawdown (3Y)Largest decline over 3 years | -15.27% | -19.36% | +4.09% |
Max Drawdown (5Y)Largest decline over 5 years | -21.61% | -22.18% | +0.57% |
Max Drawdown (10Y)Largest decline over 10 years | -32.14% | -23.72% | -8.42% |
Current DrawdownCurrent decline from peak | -6.45% | -17.55% | +11.10% |
Average DrawdownAverage peak-to-trough decline | -10.87% | -18.16% | +7.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.26% | 7.95% | -2.69% |
Volatility
XCG.TO vs. CGL.TO - Volatility Comparison
The current volatility for iShares Canadian Growth Index ETF (XCG.TO) is 5.11%, while iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) has a volatility of 5.60%. This indicates that XCG.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.
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Volatility by Period
| XCG.TO | CGL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 5.60% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 17.02% | 23.18% | -6.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.07% | 26.88% | -6.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 18.33% | -2.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 16.41% | +0.07% |
XCG.TO vs. CGL.TO - Expense Ratio Comparison
Both XCG.TO and CGL.TO have an expense ratio of 0.55%.
Dividends
XCG.TO vs. CGL.TO - Dividend Comparison
XCG.TO's dividend yield for the trailing twelve months is around 0.49%, 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% |
XCG.TO iShares Canadian Growth Index ETF | 0.49% | 0.45% | 0.60% | 1.33% | 1.59% | 1.46% | 1.69% | 1.53% | 1.65% | 1.03% | 0.97% | 0.72% |
Frequently Asked Questions
XCG.TO and CGL.TO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XCG.TO and CGL.TO have the same expense ratio: 0.55% per year.
XCG.TO is categorized as Canada Equities, while CGL.TO is Precious Metals. XCG.TO tracks Morningstar Canada GR CAD, while CGL.TO tracks Gold Bullion.
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