XGD.TO vs. AVDV
XGD.TO (iShares S&P/TSX Global Gold Index ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - XGD.TO is a Gold fund tracking the S&P/TSX Global Gold Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. XGD.TO is passively managed, while AVDV is actively managed. Over the past 5 years, XGD.TO returned 21.08%/yr vs 16.96%/yr for AVDV. At a 0.33 correlation, their price movements are largely independent. XGD.TO charges 0.61%/yr vs 0.36%/yr for AVDV.
Performance
XGD.TO vs. AVDV - Performance Comparison
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Different Trading Currencies
XGD.TO is traded in CAD, while AVDV is traded in USD. To make them comparable, the AVDV 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 AVDV's 17.32% return.
XGD.TO
- 1D
- 2.99%
- 1M
- -13.12%
- YTD
- -2.21%
- 6M
- -1.55%
- 1Y
- 56.40%
- 3Y*
- 41.86%
- 5Y*
- 21.08%
- 10Y*
- 14.21%
AVDV
- 1D
- 1.08%
- 1M
- -0.08%
- YTD
- 17.32%
- 6M
- 18.86%
- 1Y
- 45.84%
- 3Y*
- 28.62%
- 5Y*
- 16.96%
- 10Y*
- —
XGD.TO vs. AVDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XGD.TO iShares S&P/TSX Global Gold Index ETF | -2.21% | 144.45% | 19.63% | 3.91% | -3.13% | -5.81% | 21.10% | 4.17% |
AVDV Avantis International Small Cap Value ETF | 17.32% | 42.55% | 17.87% | 14.07% | -5.86% | 15.74% | 2.51% | 10.13% |
Correlation
The correlation between XGD.TO and AVDV is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019 | 0.33 |
Over the past year, XGD.TO and AVDV have become more correlated (0.54) than their long-term average of 0.33, meaning their price movements have been converging.
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Return for Risk
XGD.TO vs. AVDV — Risk / Return Rank
XGD.TO
AVDV
XGD.TO vs. AVDV - 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 Avantis International Small Cap Value ETF (AVDV). 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.TO | AVDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.46 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 3.46 | -1.65 |
| Martin ratioReturn relative to average drawdown | 5.00 | 14.20 | -9.20 |
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Drawdowns
XGD.TO vs. AVDV - Drawdown Comparison
The maximum XGD.TO drawdown since its inception was -72.56%, which is greater than AVDV's maximum drawdown of -37.43%. Use the drawdown chart below to compare losses from any high point for XGD.TO and AVDV.
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Drawdown Indicators
| XGD.TO | AVDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.56% | -37.43% | -35.13% |
Max Drawdown (1Y)Largest decline over 1 year | -33.06% | -12.81% | -20.25% |
Max Drawdown (3Y)Largest decline over 3 years | -33.06% | -14.53% | -18.53% |
Max Drawdown (5Y)Largest decline over 5 years | -40.82% | -22.53% | -18.29% |
Max Drawdown (10Y)Largest decline over 10 years | -46.96% | — | — |
Current DrawdownCurrent decline from peak | -27.60% | -1.05% | -26.55% |
Average DrawdownAverage peak-to-trough decline | -31.89% | -5.01% | -26.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.91% | 3.12% | +8.79% |
Volatility
XGD.TO vs. AVDV - Volatility Comparison
iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a higher volatility of 16.16% compared to Avantis International Small Cap Value ETF (AVDV) at 6.39%. This indicates that XGD.TO's price experiences larger fluctuations and is considered to be riskier than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGD.TO | AVDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.16% | 6.39% | +9.77% |
Volatility (6M)Calculated over the trailing 6-month period | 36.04% | 14.17% | +21.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.26% | 16.48% | +27.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.95% | 18.25% | +14.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.55% | 20.45% | +13.10% |
XGD.TO vs. AVDV - Expense Ratio Comparison
XGD.TO has a 0.61% expense ratio, which is higher than AVDV's 0.36% expense ratio.
Dividends
XGD.TO vs. AVDV - Dividend Comparison
XGD.TO's dividend yield for the trailing twelve months is around 0.64%, less than AVDV's 4.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVDV Avantis International Small Cap Value ETF | 4.11% | 3.05% | 4.31% | 3.29% | 3.17% | 2.39% | 1.67% | 0.36% | 0.00% | 0.00% | 0.00% | 0.00% |
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 AVDV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AVDV is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AVDV is cheaper with a 0.36% expense ratio, compared with 0.61% for XGD.TO.
XGD.TO is categorized as Gold, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.61% for XGD.TO and 0.36% for AVDV.
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