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

XGD.TO vs. NEM

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 NEM (Newmont Corporation) is a stock. Over the past 10 years, XGD.TO returned 14.21%/yr vs 14.79%/yr for NEM. Their correlation of 0.83 suggests significant overlap in exposure.

Performance

XGD.TO vs. NEM - 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 Newmont Corporation (NEM). 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 NEM is traded in USD. To make them comparable, the NEM 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 NEM's 2.97% return. Both investments have delivered pretty close results over the past 10 years, with XGD.TO having a 14.21% annualized return and NEM not far ahead at 14.79%.

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%

NEM

1D
3.00%
1M
-13.76%
YTD
2.97%
6M
4.15%
1Y
85.40%
3Y*
38.22%
5Y*
13.77%
10Y*
14.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XGD.TO vs. NEM - 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%
NEM
Newmont Corporation		2.97%160.36%-0.03%-10.93%-15.75%7.35%36.96%25.14%1.74%3.40%

Correlation

The correlation between XGD.TO and NEM is 0.88, 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

0.88

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

0.86

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

0.85

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

0.83

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

0.83

The correlation between XGD.TO and NEM has been stable across timeframes, ranging from 0.83 to 0.88 - 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

Newmont Corporation

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 NEM:
NEM vs. GOLDNEM vs. AEMNEM vs. GDXNEM vs. GLDNEM vs. GDXJNEM vs. FNVNEM vs. AU

Return for Risk

XGD.TO vs. NEM — 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
NEM
NEM Risk / Return Rank: 8282
Overall Rank
NEM Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
NEM Sortino Ratio Rank: 7878
Sortino Ratio Rank
NEM Omega Ratio Rank: 8080
Omega Ratio Rank
NEM Calmar Ratio Rank: 8282
Calmar Ratio Rank
NEM Martin Ratio Rank: 8484
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. NEM - 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 Newmont Corporation (NEM). 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.TONEMDifference
Sharpe ratioReturn per unit of total volatility
1.35
1.82

-0.47

Sortino ratioReturn per unit of downside risk
1.75
2.15

-0.40

Omega ratioGain probability vs. loss probability

1.25

1.30

-0.05

Calmar ratioReturn relative to maximum drawdown

1.81

3.12

-1.32

Martin ratioReturn relative to average drawdown

5.00

8.32

-3.32

XGD.TO vs. NEM - Sharpe Ratio Comparison

The current XGD.TO Sharpe Ratio is 1.35, which is comparable to the NEM Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of XGD.TO and NEM, 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. NEM - Drawdown Comparison

The maximum XGD.TO drawdown since its inception was -72.56%, roughly equal to the maximum NEM drawdown of -70.02%. Use the drawdown chart below to compare losses from any high point for XGD.TO and NEM.

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Drawdown Indicators

XGD.TONEMDifference

Max Drawdown

Largest peak-to-trough decline

-72.56%

-70.02%

-2.54%

Max Drawdown (1Y)

Largest decline over 1 year

-33.06%

-27.50%

-5.56%

Max Drawdown (3Y)

Largest decline over 3 years

-33.06%

-33.96%

+0.90%

Max Drawdown (5Y)

Largest decline over 5 years

-40.82%

-59.76%

+18.94%

Max Drawdown (10Y)

Largest decline over 10 years

-46.96%

-59.76%

+12.80%

Current Drawdown

Current decline from peak

-27.60%

-21.49%

-6.11%

Average Drawdown

Average peak-to-trough decline

-31.89%

-29.16%

-2.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.91%

10.30%

+1.61%

Volatility

XGD.TO vs. NEM - Volatility Comparison

iShares S&P/TSX Global Gold Index ETF (XGD.TO) and Newmont Corporation (NEM) have volatilities of 16.16% and 15.88%, 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.TONEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.16%

15.88%

+0.28%

Volatility (6M)

Calculated over the trailing 6-month period

36.04%

37.55%

-1.51%

Volatility (1Y)

Calculated over the trailing 1-year period

44.26%

47.44%

-3.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.95%

38.17%

-5.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.55%

36.11%

-2.56%

Dividends

XGD.TO vs. NEM - Dividend Comparison

XGD.TO's dividend yield for the trailing twelve months is around 0.64%, less than NEM's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
NEM
Newmont Corporation		1.02%1.00%2.69%3.87%4.66%3.55%1.74%3.31%1.62%0.67%0.37%0.56%
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 NEM have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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