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

XGD.TO vs. PHYS.TO

Last updated Jun 4, 2026

XGD.TO (iShares S&P/TSX Global Gold Index ETF) is Precious Metals fund tracking the Morningstar Gbl Gold GR CAD, while PHYS.TO (Sprott Physical Gold Trust) is a stock. Over the past 5 years, XGD.TO returned 22.30%/yr vs 20.78%/yr for PHYS.TO. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

XGD.TO vs. PHYS.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 Sprott Physical Gold Trust (PHYS.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 PHYS.TO's 2.89% 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%

PHYS.TO

1D
-0.66%
1M
0.26%
YTD
2.89%
6M
3.81%
1Y
32.90%
3Y*
31.40%
5Y*
20.78%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
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%-0.18%
PHYS.TO
Sprott Physical Gold Trust		2.89%56.35%37.41%10.65%4.96%-5.37%21.38%12.13%4.21%

Correlation

The correlation between XGD.TO and PHYS.TO is 0.77, 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

0.77

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

0.71

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

0.68

Correlation (All Time)
Calculated using the full available price history since Feb 6, 2018

0.65

The correlation between XGD.TO and PHYS.TO shifts across timeframes, from 0.65 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.

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

Sprott Physical Gold Trust

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 PHYS.TO:
PHYS.TO vs. CGL-C.TOPHYS.TO vs. MNT.TOPHYS.TO vs. GLDPHYS.TO vs. KILO.TOPHYS.TO vs. ZGLD.TOPHYS.TO vs. VFV.TOPHYS.TO vs. ABX.TO

Return for Risk

XGD.TO vs. PHYS.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
PHYS.TO
PHYS.TO Risk / Return Rank: 7373
Overall Rank
PHYS.TO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
PHYS.TO Sortino Ratio Rank: 6868
Sortino Ratio Rank
PHYS.TO Omega Ratio Rank: 7373
Omega Ratio Rank
PHYS.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
PHYS.TO Martin Ratio Rank: 7373
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. PHYS.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 Sprott Physical Gold Trust (PHYS.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.TOPHYS.TODifference
Sharpe ratioReturn per unit of total volatility
1.59
1.27

+0.32

Sortino ratioReturn per unit of downside risk
1.97
1.65

+0.32

Omega ratioGain probability vs. loss probability

1.28

1.25

+0.03

Calmar ratioReturn relative to maximum drawdown

2.35

1.82

+0.53

Martin ratioReturn relative to average drawdown

6.22

4.49

+1.73

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. PHYS.TO - Sharpe Ratio Comparison

The current XGD.TO Sharpe Ratio is 1.59, which is comparable to the PHYS.TO Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of XGD.TO and PHYS.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.TOPHYS.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.59

1.27

+0.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

1.21

-0.53

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.60

-0.35

Drawdowns

XGD.TO vs. PHYS.TO - Drawdown Comparison

The maximum XGD.TO drawdown since its inception was -72.55%, which is greater than PHYS.TO's maximum drawdown of -27.08%. Use the drawdown chart below to compare losses from any high point for XGD.TO and PHYS.TO.

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Drawdown Indicators

XGD.TOPHYS.TODifference

Max Drawdown

Largest peak-to-trough decline

-72.55%

-27.08%

-45.47%

Max Drawdown (1Y)

Largest decline over 1 year

-28.95%

-18.14%

-10.81%

Max Drawdown (3Y)

Largest decline over 3 years

-28.95%

-18.14%

-10.81%

Max Drawdown (5Y)

Largest decline over 5 years

-40.82%

-18.14%

-22.68%

Max Drawdown (10Y)

Largest decline over 10 years

-46.96%

—

—

Current Drawdown

Current decline from peak

-23.49%

-16.29%

-7.20%

Average Drawdown

Average peak-to-trough decline

-28.30%

-7.83%

-20.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.93%

7.34%

+3.59%

Volatility

XGD.TO vs. PHYS.TO - Volatility Comparison

iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a higher volatility of 14.43% compared to Sprott Physical Gold Trust (PHYS.TO) at 5.61%. This indicates that XGD.TO's price experiences larger fluctuations and is considered to be riskier than PHYS.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.TOPHYS.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

14.43%

5.61%

+8.82%

Volatility (6M)

Calculated over the trailing 6-month period

34.40%

22.21%

+12.19%

Volatility (1Y)

Calculated over the trailing 1-year period

42.86%

26.13%

+16.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.64%

17.21%

+15.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.38%

26.82%

+6.56%

Dividends

XGD.TO vs. PHYS.TO - Dividend Comparison

XGD.TO's dividend yield for the trailing twelve months is around 0.60%, while PHYS.TO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
PHYS.TO
Sprott Physical Gold Trust		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		0.60%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 PHYS.TO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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