XDIV.TO vs. GDX
XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) and GDX (VanEck Gold Miners ETF) are both exchange-traded funds - XDIV.TO is a Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. Both are passively managed. Over the past 5 years, XDIV.TO returned 17.21%/yr vs 20.95%/yr for GDX. At a 0.13 correlation, their price movements are largely independent. XDIV.TO charges 0.11%/yr vs 0.51%/yr for GDX.
Performance
XDIV.TO vs. GDX - Performance Comparison
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Different Trading Currencies
XDIV.TO is traded in CAD, while GDX is traded in USD. To make them comparable, the GDX values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XDIV.TO achieves a 21.85% return, which is significantly higher than GDX's -4.80% return.
XDIV.TO
- 1D
- 0.57%
- 1M
- 4.53%
- YTD
- 21.85%
- 6M
- 20.22%
- 1Y
- 40.47%
- 3Y*
- 24.13%
- 5Y*
- 17.21%
- 10Y*
- —
GDX
- 1D
- 3.16%
- 1M
- -13.15%
- YTD
- -4.80%
- 6M
- -4.55%
- 1Y
- 52.11%
- 3Y*
- 41.05%
- 5Y*
- 20.95%
- 10Y*
- 14.26%
XDIV.TO vs. GDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 21.85% | 25.04% | 19.84% | 11.95% | 0.49% | 33.31% | -7.53% | 25.14% | -9.81% | 8.00% |
GDX VanEck Gold Miners ETF | -4.80% | 143.14% | 20.00% | 7.36% | -3.24% | -9.57% | 20.73% | 34.08% | -1.10% | -3.80% |
Correlation
The correlation between XDIV.TO and GDX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017 | 0.13 |
The correlation between XDIV.TO and GDX shifts across timeframes, from 0.12 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XDIV.TO vs. GDX — Risk / Return Rank
XDIV.TO
GDX
XDIV.TO vs. GDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and VanEck Gold Miners ETF (GDX). 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.
| XDIV.TO | GDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.98 | ||
| Sortino ratioReturn per unit of downside risk | +6.01 | ||
| Omega ratioGain probability vs. loss probability | 2.07 | 1.22 | +0.85 |
| Calmar ratioReturn relative to maximum drawdown | 17.55 | 1.55 | +16.00 |
| Martin ratioReturn relative to average drawdown | 59.35 | 4.20 | +55.14 |
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Drawdowns
XDIV.TO vs. GDX - Drawdown Comparison
The maximum XDIV.TO drawdown since its inception was -41.29%, smaller than the maximum GDX drawdown of -72.57%. Use the drawdown chart below to compare losses from any high point for XDIV.TO and GDX.
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Drawdown Indicators
| XDIV.TO | GDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.29% | -72.57% | +31.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -34.99% | +32.67% |
Max Drawdown (3Y)Largest decline over 3 years | -10.53% | -34.99% | +24.46% |
Max Drawdown (5Y)Largest decline over 5 years | -17.33% | -42.42% | +25.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.03% | — |
Current DrawdownCurrent decline from peak | 0.00% | -29.41% | +29.41% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -31.56% | +27.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 12.88% | -12.19% |
Volatility
XDIV.TO vs. GDX - Volatility Comparison
The current volatility for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) is 2.47%, while VanEck Gold Miners ETF (GDX) has a volatility of 17.30%. This indicates that XDIV.TO experiences smaller price fluctuations and is considered to be less risky than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XDIV.TO | GDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 17.30% | -14.83% |
Volatility (6M)Calculated over the trailing 6-month period | 6.45% | 39.26% | -32.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.95% | 46.97% | -39.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.51% | 37.18% | -26.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.33% | 37.86% | -21.53% |
XDIV.TO vs. GDX - Expense Ratio Comparison
XDIV.TO has a 0.11% expense ratio, which is lower than GDX's 0.51% expense ratio.
Dividends
XDIV.TO vs. GDX - Dividend Comparison
XDIV.TO's dividend yield for the trailing twelve months is around 3.25%, more than GDX's 0.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDX VanEck Gold Miners ETF | 0.79% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 3.25% | 3.90% | 4.50% | 4.42% | 4.15% | 3.76% | 4.85% | 4.24% | 5.13% | 1.92% | 0.00% | 0.00% |
Frequently Asked Questions
XDIV.TO and GDX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XDIV.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XDIV.TO is cheaper with a 0.11% expense ratio, compared with 0.51% for GDX.
XDIV.TO is categorized as Dividend, while GDX is Gold. XDIV.TO tracks MSCI Canada High Dividend Yield 10% Security Capped Index, while GDX tracks NYSE MarketVector Global Gold Miners Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.11% for XDIV.TO and 0.51% for GDX.
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