XEG.TO vs. GLD
XEG.TO (iShares S&P/TSX Capped Energy Index ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, XEG.TO returned 11.69%/yr vs 13.12%/yr for GLD. At a 0.09 correlation, their price movements are largely independent. XEG.TO charges 0.60%/yr vs 0.40%/yr for GLD.
Performance
XEG.TO vs. GLD - Performance Comparison
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Different Trading Currencies
XEG.TO is traded in CAD, while GLD is traded in USD. To make them comparable, the GLD values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XEG.TO achieves a 38.53% return, which is significantly higher than GLD's -0.49% return. Over the past 10 years, XEG.TO has underperformed GLD with an annualized return of 11.69%, while GLD has yielded a comparatively higher 13.12% annualized return.
XEG.TO
- 1D
- -0.41%
- 1M
- -3.89%
- YTD
- 38.53%
- 6M
- 37.54%
- 1Y
- 51.12%
- 3Y*
- 26.37%
- 5Y*
- 28.03%
- 10Y*
- 11.69%
GLD
- 1D
- 0.24%
- 1M
- -7.75%
- YTD
- -0.49%
- 6M
- -0.85%
- 1Y
- 25.59%
- 3Y*
- 30.82%
- 5Y*
- 20.51%
- 10Y*
- 13.12%
XEG.TO vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 38.53% | 16.72% | 14.04% | 3.55% | 53.25% | 83.71% | -34.44% | 9.04% | -27.05% | -11.17% |
GLD SPDR Gold Shares | -0.49% | 56.20% | 37.38% | 10.01% | 5.52% | -4.20% | 21.85% | 13.00% | 6.30% | 5.17% |
Correlation
The correlation between XEG.TO and GLD is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.09 |
The correlation between XEG.TO and GLD shifts across timeframes, from -0.00 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XEG.TO vs. GLD — Risk / Return Rank
XEG.TO
GLD
XEG.TO vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Energy Index ETF (XEG.TO) and SPDR Gold Shares (GLD). 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.
| XEG.TO | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.20 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 5.04 | 1.20 | +3.84 |
| Martin ratioReturn relative to average drawdown | 14.38 | 3.41 | +10.98 |
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Drawdowns
XEG.TO vs. GLD - Drawdown Comparison
The maximum XEG.TO drawdown since its inception was -87.51%, which is greater than GLD's maximum drawdown of -33.66%. Use the drawdown chart below to compare losses from any high point for XEG.TO and GLD.
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Drawdown Indicators
| XEG.TO | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.51% | -33.66% | -53.85% |
Max Drawdown (1Y)Largest decline over 1 year | -11.12% | -22.24% | +11.12% |
Max Drawdown (3Y)Largest decline over 3 years | -25.67% | -22.24% | -3.43% |
Max Drawdown (5Y)Largest decline over 5 years | -28.42% | -22.24% | -6.18% |
Max Drawdown (10Y)Largest decline over 10 years | -79.66% | -22.86% | -56.80% |
Current DrawdownCurrent decline from peak | -7.87% | -19.65% | +11.78% |
Average DrawdownAverage peak-to-trough decline | -34.55% | -10.77% | -23.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 7.83% | -3.94% |
Volatility
XEG.TO vs. GLD - Volatility Comparison
iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a higher volatility of 9.11% compared to SPDR Gold Shares (GLD) at 7.89%. This indicates that XEG.TO's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEG.TO | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.11% | 7.89% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 19.65% | 24.01% | -4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.30% | 27.34% | -4.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.72% | 19.13% | +9.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.40% | 17.28% | +16.12% |
XEG.TO vs. GLD - Expense Ratio Comparison
XEG.TO has a 0.60% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
XEG.TO vs. GLD - Dividend Comparison
XEG.TO's dividend yield for the trailing twelve months is around 2.76%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 2.76% | 3.63% | 3.46% | 4.26% | 3.31% | 1.64% | 2.96% | 2.70% | 2.25% | 1.41% | 1.40% | 3.58% |
Frequently Asked Questions
XEG.TO and GLD have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLD is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLD is cheaper with a 0.40% expense ratio, compared with 0.60% for XEG.TO.
XEG.TO is categorized as Energy Equities, while GLD is Gold. XEG.TO tracks S&P/TSX Capped Energy Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.60% for XEG.TO and 0.40% for GLD.
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