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XGD.TO vs. AEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XGD.TO vs. AEM

Last updated Jun 13, 2026

XGD.TO (iShares S&P/TSX Global Gold Index ETF) is Precious Metals fund tracking the S&P/TSX Global Gold Index, while AEM (Agnico Eagle Mines Limited) is a stock. Over the past 10 years, XGD.TO returned 14.21%/yr vs 15.70%/yr for AEM. Their correlation of 0.84 suggests significant overlap in exposure.

Performance

XGD.TO vs. AEM - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Global Gold Index ETF (XGD.TO) and Agnico Eagle Mines Limited (AEM). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XGD.TO is traded in CAD, while AEM is traded in USD. To make them comparable, the AEM values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XGD.TO achieves a -2.21% return, which is significantly lower than AEM's -1.60% return. Over the past 10 years, XGD.TO has underperformed AEM with an annualized return of 14.21%, while AEM has yielded a comparatively higher 15.70% annualized return.

XGD.TO

1D
2.99%
1M
-14.75%
YTD
-2.21%
6M
-1.55%
1Y
59.41%
3Y*
41.86%
5Y*
21.08%
10Y*
14.21%

AEM

1D
3.39%
1M
-15.04%
YTD
-1.60%
6M
-1.45%
1Y
37.62%
3Y*
53.24%
5Y*
24.34%
10Y*
15.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XGD.TO vs. AEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XGD.TO
iShares S&P/TSX Global Gold Index ETF		-2.21%144.45%19.63%3.91%-3.13%-5.81%21.10%40.18%-4.10%0.96%
AEM
Agnico Eagle Mines Limited		-1.60%109.51%58.40%6.39%7.48%-22.85%14.60%47.83%-4.07%3.41%

Correlation

The correlation between XGD.TO and AEM is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.89

Correlation (3Y)
Calculated over the trailing 3-year period

0.89

Correlation (5Y)
Calculated over the trailing 5-year period

0.88

Correlation (10Y)
Calculated over the trailing 10-year period

0.85

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.84

The correlation between XGD.TO and AEM has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P/TSX Global Gold Index ETF

Agnico Eagle Mines Limited

Often compared with XGD.TO:
XGD.TO vs. CGL.TOXGD.TO vs. GLDXGD.TO vs. ZGD.TOXGD.TO vs. MNT.TOXGD.TO vs. BRK-BXGD.TO vs. ZGLD.TOXGD.TO vs. ZGLD.SW
Often compared with AEM:
AEM vs. NEMAEM vs. GOLDAEM vs. WPMAEM vs. GDXAEM vs. PAASAEM vs. FNVAEM vs. GFI

Return for Risk

XGD.TO vs. AEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XGD.TO
XGD.TO Risk / Return Rank: 4040
Overall Rank
XGD.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
XGD.TO Sortino Ratio Rank: 3838
Sortino Ratio Rank
XGD.TO Omega Ratio Rank: 4343
Omega Ratio Rank
XGD.TO Calmar Ratio Rank: 4141
Calmar Ratio Rank
XGD.TO Martin Ratio Rank: 3636
Martin Ratio Rank
AEM
AEM Risk / Return Rank: 6464
Overall Rank
AEM Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
AEM Sortino Ratio Rank: 6161
Sortino Ratio Rank
AEM Omega Ratio Rank: 6262
Omega Ratio Rank
AEM Calmar Ratio Rank: 6161
Calmar Ratio Rank
AEM Martin Ratio Rank: 6565
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XGD.TO vs. AEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Global Gold Index ETF (XGD.TO) and Agnico Eagle Mines Limited (AEM). 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.

XGD.TOAEMDifference
Sharpe ratioReturn per unit of total volatility
1.35
0.86

+0.49

Sortino ratioReturn per unit of downside risk
1.75
1.29

+0.46

Omega ratioGain probability vs. loss probability

1.25

1.17

+0.08

Calmar ratioReturn relative to maximum drawdown

1.81

0.99

+0.81

Martin ratioReturn relative to average drawdown

5.00

2.74

+2.26

XGD.TO vs. AEM - Sharpe Ratio Comparison

The current XGD.TO Sharpe Ratio is 1.35, which is higher than the AEM Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of XGD.TO and AEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XGD.TO vs. AEM - Drawdown Comparison

The maximum XGD.TO drawdown since its inception was -72.56%, roughly equal to the maximum AEM drawdown of -70.00%. Use the drawdown chart below to compare losses from any high point for XGD.TO and AEM.

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Drawdown Indicators

XGD.TOAEMDifference

Max Drawdown

Largest peak-to-trough decline

-72.56%

-70.00%

-2.56%

Max Drawdown (1Y)

Largest decline over 1 year

-33.06%

-38.12%

+5.06%

Max Drawdown (3Y)

Largest decline over 3 years

-33.06%

-38.12%

+5.06%

Max Drawdown (5Y)

Largest decline over 5 years

-40.82%

-40.73%

-0.09%

Max Drawdown (10Y)

Largest decline over 10 years

-46.96%

-54.11%

+7.15%

Current Drawdown

Current decline from peak

-27.60%

-33.84%

+6.24%

Average Drawdown

Average peak-to-trough decline

-31.89%

-26.81%

-5.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.91%

13.77%

-1.86%

Volatility

XGD.TO vs. AEM - Volatility Comparison

iShares S&P/TSX Global Gold Index ETF (XGD.TO) and Agnico Eagle Mines Limited (AEM) have volatilities of 16.16% and 15.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XGD.TOAEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.16%

15.43%

+0.73%

Volatility (6M)

Calculated over the trailing 6-month period

36.04%

36.14%

-0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

44.26%

44.15%

+0.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.95%

37.46%

-4.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.55%

37.92%

-4.37%

Dividends

XGD.TO vs. AEM - Dividend Comparison

XGD.TO's dividend yield for the trailing twelve months is around 0.64%, less than AEM's 1.05% yield.

PositionTTM20252024202320222021202020192018201720162015
AEM
Agnico Eagle Mines Limited		1.05%0.94%2.05%2.92%3.08%2.63%2.36%0.89%1.09%0.89%0.86%1.22%
XGD.TO
iShares S&P/TSX Global Gold Index ETF		0.64%0.62%0.93%1.49%1.77%1.38%0.35%0.54%0.25%0.14%0.10%0.57%

Frequently Asked Questions

XGD.TO and AEM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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