XGD.TO vs. NGD

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 NGD (New Gold Inc.) is a stock. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

XGD.TO vs. NGD - 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 New Gold Inc. (NGD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

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%

NGD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XGD.TO vs. NGD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
NGD New Gold Inc.	4.56%	235.18%	84.25%	45.44%	-30.53%	-31.54%	142.96%	11.49%	-75.06%	-12.36%

Correlation

The correlation between XGD.TO and NGD is 0.62, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006	0.65

The correlation between XGD.TO and NGD has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.

Return for Risk

XGD.TO vs. NGD — 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: 40
XGD.TO Sharpe Ratio Rank: 43
XGD.TO Sortino Ratio Rank: 38
XGD.TO Omega Ratio Rank: 43
XGD.TO Calmar Ratio Rank: 41
XGD.TO Martin Ratio Rank: 36

NGD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. NGD - 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 New Gold Inc. (NGD). 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	NGD	Difference
Sharpe ratio: Return per unit of total volatility	1.35	—	—
Sortino ratio: Return per unit of downside risk	1.75	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	1.81	—	—
Martin ratio: Return relative to average drawdown	5.00	—	—

Drawdowns

Drawdown Indicators

	XGD.TO	NGD	Difference
Max Drawdown Largest peak-to-trough decline	-72.56%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-33.06%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-33.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-40.82%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.96%	—	—
Current Drawdown Current decline from peak	-27.60%	—	—
Average Drawdown Average peak-to-trough decline	-31.89%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	11.91%	—	—

Volatility

Volatility by Period

	XGD.TO	NGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.04%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.26%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.95%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.55%	—	—

Dividends

XGD.TO vs. NGD - Dividend Comparison

XGD.TO's dividend yield for the trailing twelve months is around 0.64%, while NGD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NGD New Gold Inc.	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

Can I hold both XGD.TO and NGD in my portfolio?

XGD.TO and NGD have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.