XGD.TO vs. IAUM
XGD.TO (iShares S&P/TSX Global Gold Index ETF) and IAUM (iShares Gold Trust Micro) are both Gold funds from iShares - XGD.TO tracks the S&P/TSX Global Gold Index while IAUM tracks the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, XGD.TO returned 43.50%/yr vs 32.05%/yr for IAUM. A 0.68 correlation means they provide meaningful diversification when combined. XGD.TO charges 0.61%/yr vs 0.09%/yr for IAUM.
Performance
XGD.TO vs. IAUM - Performance Comparison
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Different Trading Currencies
XGD.TO is traded in CAD, while IAUM is traded in USD. To make them comparable, the IAUM 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 -3.25% return, which is significantly lower than IAUM's -1.45% return.
XGD.TO
- 1D
- -3.91%
- 1M
- -6.09%
- YTD
- -3.25%
- 6M
- -7.99%
- 1Y
- 55.56%
- 3Y*
- 43.50%
- 5Y*
- 23.14%
- 10Y*
- 13.37%
IAUM
- 1D
- -1.98%
- 1M
- -6.26%
- YTD
- -1.45%
- 6M
- -5.86%
- 1Y
- 25.39%
- 3Y*
- 32.05%
- 5Y*
- —
- 10Y*
- —
XGD.TO vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XGD.TO iShares S&P/TSX Global Gold Index ETF | -3.25% | 144.45% | 19.63% | 3.91% | -3.13% | 0.61% |
IAUM iShares Gold Trust Micro | -1.45% | 56.77% | 37.80% | 10.43% | 5.81% | 7.32% |
Correlation
The correlation between XGD.TO and IAUM is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.68 |
The correlation between XGD.TO and IAUM has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.
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Return for Risk
XGD.TO vs. IAUM — Risk / Return Rank
XGD.TO
IAUM
XGD.TO vs. IAUM - 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 Gold Trust Micro (IAUM). 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 | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.19 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 1.15 | +0.53 |
| Martin ratioReturn relative to average drawdown | 4.43 | 3.09 | +1.34 |
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Drawdowns
XGD.TO vs. IAUM - Drawdown Comparison
The maximum XGD.TO drawdown since its inception was -72.56%, which is greater than IAUM's maximum drawdown of -22.08%. Use the drawdown chart below to compare losses from any high point for XGD.TO and IAUM.
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Drawdown Indicators
| XGD.TO | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.56% | -22.08% | -50.48% |
Max Drawdown (1Y)Largest decline over 1 year | -33.06% | -22.08% | -10.98% |
Max Drawdown (3Y)Largest decline over 3 years | -33.06% | -22.08% | -10.98% |
Max Drawdown (5Y)Largest decline over 5 years | -40.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.96% | — | — |
Current DrawdownCurrent decline from peak | -28.37% | -20.36% | -8.01% |
Average DrawdownAverage peak-to-trough decline | -31.91% | -4.87% | -27.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.59% | 8.26% | +4.33% |
Volatility
XGD.TO vs. IAUM - Volatility Comparison
iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a higher volatility of 16.16% compared to iShares Gold Trust Micro (IAUM) at 8.20%. This indicates that XGD.TO's price experiences larger fluctuations and is considered to be riskier than IAUM 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 | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.16% | 8.20% | +7.96% |
Volatility (6M)Calculated over the trailing 6-month period | 36.86% | 24.02% | +12.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.08% | 27.23% | +17.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.12% | 19.00% | +14.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.55% | 19.00% | +14.55% |
XGD.TO vs. IAUM - Expense Ratio Comparison
XGD.TO has a 0.61% expense ratio, which is higher than IAUM's 0.09% expense ratio.
Dividends
XGD.TO vs. IAUM - Dividend Comparison
XGD.TO's dividend yield for the trailing twelve months is around 0.64%, while IAUM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 IAUM have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAUM is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAUM is cheaper with a 0.09% expense ratio, compared with 0.61% for XGD.TO.
XGD.TO tracks S&P/TSX Global Gold Index, while IAUM tracks LBMA Gold Price PM. Their fees differ too: 0.61% for XGD.TO and 0.09% for IAUM.
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