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

XGD.TO vs. CMR.TO

Last updated Jun 4, 2026

XGD.TO (iShares S&P/TSX Global Gold Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - XGD.TO is a Precious Metals fund tracking the Morningstar Gbl Gold GR CAD, while CMR.TO is a Money Market fund actively managed by iShares. XGD.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, XGD.TO returned 14.79%/yr vs 1.89%/yr for CMR.TO. At a correlation of -0.01, they often move in opposite directions. XGD.TO charges 0.61%/yr vs 0.14%/yr for CMR.TO.

Performance

XGD.TO vs. CMR.TO - 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 iShares Premium Money Market ETF (CMR.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XGD.TO achieves a 3.35% return, which is significantly higher than CMR.TO's 0.97% return. Over the past 10 years, XGD.TO has outperformed CMR.TO with an annualized return of 14.79%, while CMR.TO has yielded a comparatively lower 1.89% annualized return.

XGD.TO

1D
-2.80%
1M
1.62%
YTD
3.35%
6M
8.72%
1Y
67.78%
3Y*
43.11%
5Y*
22.30%
10Y*
14.79%

CMR.TO

1D
0.00%
1M
0.19%
YTD
0.97%
6M
1.05%
1Y
2.37%
3Y*
3.73%
5Y*
2.94%
10Y*
1.89%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XGD.TO vs. CMR.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XGD.TO
iShares S&P/TSX Global Gold Index ETF		3.35%144.45%19.63%3.91%-3.10%-5.81%21.10%40.18%-4.10%0.96%
CMR.TO
iShares Premium Money Market ETF		0.97%2.68%4.70%4.70%1.71%0.00%0.47%1.63%1.29%0.63%

Correlation

The correlation between XGD.TO and CMR.TO is -0.04, 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

-0.04

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

-0.09

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

-0.04

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

-0.02

Correlation (All Time)
Calculated using the full available price history since Feb 20, 2008

-0.01

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

iShares Premium Money Market ETF

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 CMR.TO:
CMR.TO vs. ZMMK.TOCMR.TO vs. CASH.TOCMR.TO vs. CBIL.TOCMR.TO vs. XFR.TOCMR.TO vs. MNY.TOCMR.TO vs. HSAV.TOCMR.TO vs. VOO

Return for Risk

XGD.TO vs. CMR.TO — 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: 4242
Overall Rank
XGD.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
XGD.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
XGD.TO Omega Ratio Rank: 4343
Omega Ratio Rank
XGD.TO Calmar Ratio Rank: 4747
Calmar Ratio Rank
XGD.TO Martin Ratio Rank: 3939
Martin Ratio Rank
CMR.TO
CMR.TO Risk / Return Rank: 9999
Overall Rank
CMR.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
CMR.TO Sortino Ratio Rank: 9999
Sortino Ratio Rank
CMR.TO Omega Ratio Rank: 100100
Omega Ratio Rank
CMR.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
CMR.TO Martin Ratio Rank: 9999
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. CMR.TO - 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 iShares Premium Money Market ETF (CMR.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.

XGD.TOCMR.TODifference
Sharpe ratioReturn per unit of total volatility
1.59
10.61

-9.02

Sortino ratioReturn per unit of downside risk
1.97
21.13

-19.15

Omega ratioGain probability vs. loss probability

1.28

9.57

-8.28

Calmar ratioReturn relative to maximum drawdown

2.35

25.44

-23.08

Martin ratioReturn relative to average drawdown

6.22

187.33

-181.10

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XGD.TO vs. CMR.TO - Sharpe Ratio Comparison

The current XGD.TO Sharpe Ratio is 1.59, which is lower than the CMR.TO Sharpe Ratio of 10.61. The chart below compares the historical Sharpe Ratios of XGD.TO and CMR.TO, 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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Sharpe Ratios by Period

XGD.TOCMR.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.59

10.61

-9.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

10.67

-9.98

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

7.02

-6.57

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

3.84

-3.59

Drawdowns

XGD.TO vs. CMR.TO - Drawdown Comparison

The maximum XGD.TO drawdown since its inception was -72.55%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for XGD.TO and CMR.TO.

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Drawdown Indicators

XGD.TOCMR.TODifference

Max Drawdown

Largest peak-to-trough decline

-72.55%

-0.52%

-72.03%

Max Drawdown (1Y)

Largest decline over 1 year

-28.95%

-0.09%

-28.86%

Max Drawdown (3Y)

Largest decline over 3 years

-28.95%

-0.09%

-28.86%

Max Drawdown (5Y)

Largest decline over 5 years

-40.82%

-0.09%

-40.73%

Max Drawdown (10Y)

Largest decline over 10 years

-46.96%

-0.14%

-46.82%

Current Drawdown

Current decline from peak

-23.49%

-0.02%

-23.47%

Average Drawdown

Average peak-to-trough decline

-28.30%

-0.01%

-28.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.93%

0.01%

+10.92%

Volatility

XGD.TO vs. CMR.TO - Volatility Comparison

iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a higher volatility of 14.43% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that XGD.TO's price experiences larger fluctuations and is considered to be riskier than CMR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XGD.TOCMR.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

14.43%

0.05%

+14.38%

Volatility (6M)

Calculated over the trailing 6-month period

34.40%

0.18%

+34.22%

Volatility (1Y)

Calculated over the trailing 1-year period

42.86%

0.22%

+42.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.64%

0.28%

+32.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.38%

0.27%

+33.11%

XGD.TO vs. CMR.TO - Expense Ratio Comparison

XGD.TO has a 0.61% expense ratio, which is higher than CMR.TO's 0.14% expense ratio.

Dividends

XGD.TO vs. CMR.TO - Dividend Comparison

XGD.TO's dividend yield for the trailing twelve months is around 0.60%, less than CMR.TO's 2.48% yield.

PositionTTM20252024202320222021202020192018201720162015
CMR.TO
iShares Premium Money Market ETF		2.48%2.81%4.56%4.64%1.62%0.00%0.47%1.60%1.33%0.61%0.43%0.48%
XGD.TO
iShares S&P/TSX Global Gold Index ETF		0.60%0.62%0.93%1.49%1.80%1.38%0.35%0.54%0.25%0.14%0.09%0.57%

Frequently Asked Questions

XGD.TO and CMR.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CMR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CMR.TO is cheaper with a 0.14% expense ratio, compared with 0.61% for XGD.TO.

XGD.TO is categorized as Precious Metals, while CMR.TO is Money Market. Their fees differ too: 0.61% for XGD.TO and 0.14% for CMR.TO.

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